SEE SAUTEREAU : revenue, balance sheet and financial ratios

In 2024, SEE SAUTEREAU achieves revenue of 1.4 M€. Activity remains stable over the period (CAGR: -0.2%). Slight decline of -8% vs 2023. After deducting consumption (189 k€), gross margin stands at 1.2 M€, i.e. a rate of 87%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 51 k€, representing 3.6% of revenue. Warning negative scissor effect: despite revenue change (-8%), EBITDA varies by -76%, reducing margin by 10.2 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 33 k€, i.e. 2.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 9%. 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 24%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 98.10. 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 1.7x. Coverage is limited: any activity downturn would jeopardize interest payments.

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: 173 days. Excellent situation: suppliers finance 109 days of the operating cycle (retail model). Inventory turnover is 23 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 95 days of revenue, i.e. 377 k€ to permanently finance. Over 2016-2024, WCR increased by +54%, requiring additional financing.

Based on 104 transactions of similar company sales (all years), the value of SEE SAUTEREAU is estimated at 149 652 € (range 85 007€ - 408 259€). With an EBITDA of 51 077€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.27x (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.