SOC GENERALE DESAMIANTAGE ET EXPORTATION : revenue, balance sheet and financial ratios

In 2024, SOC GENERALE DESAMIANTAGE ET EXPORTATION achieves revenue of 7.1 M€. Revenue is declining over the period 2019-2024 (CAGR: -6.2%). Vs 2023, growth of +22% (5.9 M€ -> 7.1 M€). After deducting consumption (78 k€), gross margin stands at 7.1 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 366 k€, representing 5.1% of revenue. Positive scissor effect: EBITDA margin improves by +18.3 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 293 k€, i.e. 4.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 332%. 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 7%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 3.0 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 5.4% 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 167.43. 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 16.5x. 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: 125 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 88 days. The gap of 37 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 11 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 118 days of revenue, i.e. 2.3 M€ to permanently finance. Notable WCR improvement over the period (-31%), freeing up cash.