SEA-INVEST BORDEAUX : revenue, balance sheet and financial ratios

In 2024, SEA-INVEST BORDEAUX achieves revenue of 20.8 M€. Activity remains stable over the period (CAGR: -0.9%). Slight decline of -1% vs 2023. After deducting consumption (390 k€), gross margin stands at 20.4 M€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 71 k€, representing 0.3% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -93%, reducing margin by 4.4 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Net income is negative at -5 k€ (-0.0% of revenue), which will impact equity.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.0 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.7% 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 52.15. 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 183.7x. 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: 55 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 92 days. Excellent situation: suppliers finance 37 days of the operating cycle (retail model). Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-57 days): operations structurally generate cash. Notable WCR improvement over the period (-172%), freeing up cash.

Based on 205 transactions of similar company sales (all years), the value of SEA-INVEST BORDEAUX is estimated at 1 210 600 € (range 764 989€ - 3 739 824€). With an EBITDA of 70 730€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.15x (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.