SOCIETE AEROPORTUAIRE DE GESTION ET D EXPLOITATION DE BEAUVAIS : revenue, balance sheet and financial ratios

In 2024, SOCIETE AEROPORTUAIRE DE GESTION ET D EXPLOITATION DE BEAUVAIS achieves revenue of 91.7 M€. Revenue is growing positively over 9 years (CAGR: +4.8%). Slight decline of -7% vs 2023. After deducting consumption (380 k€), gross margin stands at 91.3 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 11.5 M€, representing 12.6% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -20%, reducing margin by 2.0 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 12.4 M€, i.e. 13.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 23%. 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 62%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 16.7% 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 389.27. 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 8.1x. 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: 8 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 37 days. Favorable situation: supplier credit is longer than customer credit by 29 days. Overall, WCR represents 52 days of revenue, i.e. 13.2 M€ to permanently finance. Over 2014-2024, WCR increased by +262%, requiring additional financing.

Based on 205 transactions of similar company sales (all years), the value of SOCIETE AEROPORTUAIRE DE GESTION ET D EXPLOITATION DE BEAUVAIS is estimated at 11 379 538 € (range 5 236 004€ - 31 563 778€). With an EBITDA of 11 539 917€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.15x (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.