SOCIETE DE GESTION DU PARC DES EXPOSITIONS DE L'AIN SOGEPEA : revenue, balance sheet and financial ratios

In 2024, SOCIETE DE GESTION DU PARC DES EXPOSITIONS DE L'AIN SOGEPEA achieves revenue of 2.8 M€. Revenue is growing positively over 9 years (CAGR: +2.6%). Vs 2023, growth of +38% (2.0 M€ -> 2.8 M€). After deducting consumption (43 k€), gross margin stands at 2.8 M€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 300 k€, representing 10.6% of revenue. Positive scissor effect: EBITDA margin improves by +8.5 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 264 k€, i.e. 9.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 11%. 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 60%. 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 9.3% 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 347.12. 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 0.4x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 90 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 42 days. The gap of 48 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Overall, WCR represents 55 days of revenue, i.e. 434 k€ to permanently finance. Notable WCR improvement over the period (-30%), freeing up cash.

Based on 63 transactions of similar company sales (all years), the value of SOCIETE DE GESTION DU PARC DES EXPOSITIONS DE L'AIN SOGEPEA is estimated at 904 508 € (range 390 402€ - 2 321 316€). With an EBITDA of 300 100€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.68x (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.