SILEANE : revenue, balance sheet and financial ratios

In 2024, SILEANE achieves revenue of 24.0 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +14.8%. Vs 2023, growth of +21% (19.9 M€ -> 24.0 M€). After deducting consumption (5.3 M€), gross margin stands at 18.7 M€, i.e. a rate of 78%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 3.1 M€, representing 12.8% of revenue. Positive scissor effect: EBITDA margin improves by +9.2 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 3.1 M€, i.e. 13.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 75%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 34%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 13.5% 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 231.19. 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 17.1x. 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: 145 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 103 days. The gap of 42 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 101 days of revenue, i.e. 6.7 M€ to permanently finance. Over 2016-2024, WCR increased by +94%, requiring additional financing.

Based on 103 transactions of similar company sales (all years), the value of SILEANE is estimated at 4 045 603 € (range 1 565 262€ - 11 290 357€). With an EBITDA of 3 069 780€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.25x (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.