SASCA INVESTISSEMENT : revenue, balance sheet and financial ratios

In 2024, SASCA INVESTISSEMENT achieves revenue of 15 k€. Revenue is declining over the period 2014-2024 (CAGR: -17.5%). Significant drop of -45% vs 2023. After deducting consumption (0 €), gross margin stands at 15 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 11 k€, representing 76.3% of revenue. Warning negative scissor effect: despite revenue change (-45%), EBITDA varies by -52%, reducing margin by 9.9 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1 k€, i.e. 9.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 139%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 42%. 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 829.9 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 8.5% 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 171.88. 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 88.6x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 50 days. Excellent situation: suppliers finance 50 days of the operating cycle (retail model). Overall, WCR represents 112 days of revenue, i.e. 5 k€ to permanently finance. Notable WCR improvement over the period (-60%), freeing up cash.

Indicative estimate only : the number of comparable transactions in this sector is limited (26 transactions). This range of 32 590€ to 75 411€ is provided for information purposes only and requires in-depth analysis to be confirmed.