SEBRO : revenue, balance sheet and financial ratios

In 2024, SEBRO achieves revenue of 358 k€. Revenue is declining over the period 2016-2024 (CAGR: -7.6%). Significant drop of -49% vs 2023. After deducting consumption (274 k€), gross margin stands at 84 k€, i.e. a rate of 23%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 22 k€, representing 6.1% of revenue. Warning negative scissor effect: despite revenue change (-49%), EBITDA varies by -70%, reducing margin by 4.4 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 21 k€, i.e. 5.7% of revenue. This profit can be retained or distributed to shareholders.

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 0%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Cash flow represents 6.0% 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 247.52. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months.

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: 43 days. Excellent situation: suppliers finance 43 days of the operating cycle (retail model). Inventory turnover is 749 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 438 days of revenue, i.e. 436 k€ to permanently finance. Over 2016-2024, WCR increased by +43612%, requiring additional financing.

Based on 229 transactions of similar company sales (all years), the value of SEBRO is estimated at 59 601 € (range 25 026€ - 172 555€). With an EBITDA of 21 953€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.32x (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.