SOC COOP AGRICOLE LINIERE NORD DE CAEN : revenue, balance sheet and financial ratios

In 2024, SOC COOP AGRICOLE LINIERE NORD DE CAEN achieves revenue of 76.3 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +30.5%. Vs 2023, growth of +89% (40.3 M€ -> 76.3 M€). After deducting consumption (38.0 M€), gross margin stands at 38.3 M€, i.e. a rate of 50%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 5.7 M€, representing 7.5% of revenue. Warning negative scissor effect: despite revenue change (+89%), EBITDA varies by -5%, reducing margin by 7.5 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 5.9 M€, i.e. 7.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 169%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. 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 6.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 7.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 1876.58. 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 14.1x. 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: 51 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 10 days. The gap of 41 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 30 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 111 days of revenue, i.e. 23.6 M€ to permanently finance. Over 2016-2024, WCR increased by +651%, requiring additional financing.