REPRESENTATIONS INDUSTR COMMERCIALES : revenue, balance sheet and financial ratios

In 2024, REPRESENTATIONS INDUSTR COMMERCIALES achieves revenue of 111 k€. Revenue is declining over the period 2016-2024 (CAGR: -12.5%). Vs 2023: +2%. After deducting consumption (51 k€), gross margin stands at 61 k€, i.e. a rate of 55%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6 k€, representing 5.3% of revenue. Positive scissor effect: EBITDA margin improves by +14.8 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 210 k€, i.e. 188.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 43%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 66%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 188.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 273.87. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 69.1x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 105 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 15 days. The gap of 90 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 84 days of revenue, i.e. 26 k€ to permanently finance. Over 2016-2024, WCR increased by +51%, requiring additional financing.

Based on 50 transactions of similar company sales (all years), the value of REPRESENTATIONS INDUSTR COMMERCIALES is estimated at 83 290 € (range 55 013€ - 269 447€). With an EBITDA of 5 880€, the sector multiple of 1.8x is applied. The price/revenue ratio is 0.32x (conservative valuation). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.
Medium reliability: estimate to be confirmed with in-depth analysis.