SAGEC-CINEMA : revenue, balance sheet and financial ratios

In 2024, SAGEC-CINEMA achieves revenue of 1.0 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.9%. Vs 2023, growth of +10% (939 k€ -> 1.0 M€). After deducting consumption (0 €), gross margin stands at 1.0 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 41 k€, representing 4.0% of revenue. Positive scissor effect: EBITDA margin improves by +6.1 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 1.4 M€, i.e. 137.9% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 10%. 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 89%. 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 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 141.3% 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 1573.74. 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 149.1x. 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: 68 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. The gap of 41 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 1040 days of revenue, i.e. 3.0 M€ to permanently finance. Over 2015-2024, WCR increased by +757%, requiring additional financing.

Based on 173 transactions of similar company sales (all years), the value of SAGEC-CINEMA is estimated at 1 196 989 € (range 422 473€ - 3 129 511€). With an EBITDA of 41 374€, the sector multiple of 3.4x is applied. The price/revenue ratio is 0.38x (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.