ROBATEL INDUSTRIES : revenue, balance sheet and financial ratios

In 2023, ROBATEL INDUSTRIES achieves revenue of 20.7 M€. Revenue is growing positively over 6 years (CAGR: +1.6%). Vs 2022, growth of +16% (17.8 M€ -> 20.7 M€). After deducting consumption (12.9 M€), gross margin stands at 7.8 M€, i.e. a rate of 38%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 464 k€, representing 2.2% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 637 k€, i.e. 3.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 30%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 23%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 383.17. 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 14.3x. 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: 167 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 75 days. The gap of 92 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-55 days): operations structurally generate cash. Notable WCR improvement over the period (-153%), freeing up cash.

Based on 276 transactions of similar company sales (all years), the value of ROBATEL INDUSTRIES is estimated at 1 915 630 € (range 874 500€ - 4 164 477€). With an EBITDA of 464 373€, the sector multiple of 1.7x is applied. The price/revenue ratio is 0.18x (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.