SELAS HENRIKA MAASSEN : revenue, balance sheet and financial ratios

In 2024, SELAS HENRIKA MAASSEN achieves revenue of 686 k€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +18.1%. Vs 2023, growth of +14% (602 k€ -> 686 k€). After deducting consumption (0 €), gross margin stands at 686 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 318 k€, representing 46.4% of revenue. Positive scissor effect: EBITDA margin improves by +2.3 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 224 k€, i.e. 32.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 28%. 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 46%. 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 0.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 35.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 224.57. 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 0.2x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 41 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 196 days. Excellent situation: suppliers finance 155 days of the operating cycle (retail model). Overall, WCR represents 47 days of revenue, i.e. 90 k€ to permanently finance. Over 2019-2024, WCR increased by +908%, requiring additional financing.

Based on 131 transactions of similar company sales (all years), the value of SELAS HENRIKA MAASSEN is estimated at 993 791 € (range 312 865€ - 1 903 586€). With an EBITDA of 318 403€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.36x (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.