SNC DES LICES : revenue, balance sheet and financial ratios

In 2024, SNC DES LICES achieves revenue of 2.0 M€. Over the period 2015-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +67.8%. Vs 2023, growth of +23% (1.6 M€ -> 2.0 M€). After deducting consumption (0 €), gross margin stands at 2.0 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 617 k€, representing 30.5% of revenue. Warning negative scissor effect: despite revenue change (+23%), EBITDA varies by -16%, reducing margin by 14.5 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 54 k€, i.e. 2.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at -1051%. 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 -9%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 220.4 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 2.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 530.82. 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 118.0x. 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: 141 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: -5552 days. The gap of 5693 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 885 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 1458 days of revenue, i.e. 8.2 M€ to permanently finance. Over 2015-2024, WCR increased by +146%, requiring additional financing.

Indicative estimate only : the number of comparable transactions in this sector is limited (22 transactions). This range of 1 182 537€ to 2 074 477€ is provided for information purposes only and requires in-depth analysis to be confirmed.