SAHINLER : revenue, balance sheet and financial ratios

In 2024, SAHINLER achieves revenue of 67.0 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +8.8%. Vs 2023, growth of +10% (60.8 M€ -> 67.0 M€). After deducting consumption (44.7 M€), gross margin stands at 22.3 M€, i.e. a rate of 33%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.4 M€, representing 6.5% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3.9 M€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 42%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 32%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.8 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.6% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 205.64. 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 7.5x. 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: 64 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 62 days. The company must finance 2 days of gap between collections and payments. Inventory turnover is 30 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 91 days of revenue, i.e. 17.0 M€ to permanently finance. Over 2016-2024, WCR increased by +133%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of SAHINLER is estimated at 10 584 364 € (range 4 455 625€ - 24 213 035€). With an EBITDA of 4 383 774€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.17x (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.