SOCIETE BRETONNE D'ENERGIE D'ARMORIQUE : revenue, balance sheet and financial ratios

In 2024, SOCIETE BRETONNE D'ENERGIE D'ARMORIQUE achieves revenue of 1.9 M€. Activity remains stable over the period (CAGR: -2.6%). Significant drop of -32% vs 2023. After deducting consumption (0 €), gross margin stands at 1.9 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 1.0 M€, representing 52.7% of revenue. Warning negative scissor effect: despite revenue change (-32%), EBITDA varies by -51%, reducing margin by 20.0 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 660 k€, i.e. 33.9% 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 71%. 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 1.7 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 42.9% 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 404.60. 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 4.1x. Financial charges are adequately covered by operations.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 268 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 167 days. The gap of 101 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. WCR is negative (-510 days): operations structurally generate cash. Over 2013-2024, WCR increased by +79%, requiring additional financing.

Based on 85 transactions of similar company sales (all years), the value of SOCIETE BRETONNE D'ENERGIE D'ARMORIQUE is estimated at 2 024 038 € (range 312 058€ - 8 104 353€). With an EBITDA of 1 025 314€, the sector multiple of 2.4x is applied. The price/revenue ratio is 0.69x (in line with sector norms). 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.