SALAISONS CELTIQUES : revenue, balance sheet and financial ratios

In 2024, SALAISONS CELTIQUES achieves revenue of 188.4 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.8%. Vs 2023: +1%. After deducting consumption (116.2 M€), gross margin stands at 72.1 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 11.1 M€, representing 5.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 13.4 M€, i.e. 7.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 137%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 31%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 133.97. 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 15.1x. 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: 22 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 35 days. Favorable situation: supplier credit is longer than customer credit by 13 days. Inventory turnover is 26 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 33 days of revenue, i.e. 17.0 M€ to permanently finance. Over 2016-2024, WCR increased by +128%, requiring additional financing.

Based on 108 transactions of similar company sales (all years), the value of SALAISONS CELTIQUES is estimated at 46 431 184 € (range 24 069 044€ - 104 105 088€). With an EBITDA of 11 087 113€, the sector multiple of 3.6x is applied. The price/revenue ratio is 0.26x (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.