SEM DES PORTS DE PLAISANCE ET EQUIPEMENTS PUBLICS DE LOISIRS DU PAYS DE LORIENT - SELLOR : revenue, balance sheet and financial ratios

In 2024, SEM DES PORTS DE PLAISANCE ET EQUIPEMENTS PUBLICS DE LOISIRS DU PAYS DE LORIENT - SELLOR achieves revenue of 12.5 M€. Revenue is growing positively over 9 years (CAGR: +4.5%). Slight decline of -0% vs 2023. After deducting consumption (1.3 M€), gross margin stands at 11.2 M€, i.e. a rate of 90%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 606 k€, representing 4.9% of revenue. Warning negative scissor effect: despite revenue change (-0%), EBITDA varies by -33%, reducing margin by 2.4 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 330 k€, i.e. 2.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 4%. 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 61%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 4.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 190.67. 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 7.6x. 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: 16 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. Excellent situation: suppliers finance 37 days of the operating cycle (retail model). Inventory turnover is 6 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. WCR is negative (-22 days): operations structurally generate cash. Notable WCR improvement over the period (-1520%), freeing up cash.

Based on 114 transactions of similar company sales (all years), the value of SEM DES PORTS DE PLAISANCE ET EQUIPEMENTS PUBLICS DE LOISIRS DU PAYS DE LORIENT - SELLOR is estimated at 4 757 503 € (range 2 437 950€ - 8 529 689€). With an EBITDA of 606 492€, the sector multiple of 5.1x is applied. The price/revenue ratio is 0.72x (in line with sector norms). 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.