SOCIETE D'EXPLOITATION DU PARC EOLIEN DE SACHIN : revenue, balance sheet and financial ratios

In 2024, SOCIETE D'EXPLOITATION DU PARC EOLIEN DE SACHIN achieves revenue of 2.0 M€. Activity remains stable over the period (CAGR: -4.6%). Significant drop of -23% vs 2023. After deducting consumption (0 €), gross margin stands at 2.0 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 1.3 M€, representing 62.3% of revenue. Warning negative scissor effect: despite revenue change (-23%), EBITDA varies by -41%, reducing margin by 19.2 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 126 k€, i.e. 6.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 340%. 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 20%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 9.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 49.8% 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 240.77. 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 16.3x. 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: 40 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 235 days. Excellent situation: suppliers finance 195 days of the operating cycle (retail model). Overall, WCR represents 142 days of revenue, i.e. 795 k€ to permanently finance. Over 2020-2024, WCR increased by +872%, requiring additional financing.

Based on 85 transactions of similar company sales (all years), the value of SOCIETE D'EXPLOITATION DU PARC EOLIEN DE SACHIN is estimated at 2 013 025 € (range 267 909€ - 8 102 865€). With an EBITDA of 1 257 315€, 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.