SOC COOPERATIVE VINIFICATION : revenue, balance sheet and financial ratios

In 2024, SOC COOPERATIVE VINIFICATION achieves revenue of 1.9 M€. Activity remains stable over the period (CAGR: -1.4%). Slight decline of -7% vs 2023. After deducting consumption (1.2 M€), gross margin stands at 716 k€, i.e. a rate of 37%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 89 k€, representing 4.7% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -86%, reducing margin by 27.0 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 21 k€, i.e. 1.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 52%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 26%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.6 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.5% 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 126.38. 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 9.5x. 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: 48 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 341 days. Excellent situation: suppliers finance 293 days of the operating cycle (retail model). Inventory turnover is 319 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 297 days of revenue, i.e. 1.6 M€ to permanently finance. Over 2016-2024, WCR increased by +72%, requiring additional financing.

Based on 55 transactions of similar company sales (all years), the value of SOC COOPERATIVE VINIFICATION is estimated at 326 022 € (range 172 145€ - 798 601€). With an EBITDA of 88 981€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.34x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.