SOCIETE D'EXPLOITATION DU PARC EOLIEN LES CINQ HETRES : revenue, balance sheet and financial ratios

In 2024, SOCIETE D'EXPLOITATION DU PARC EOLIEN LES CINQ HETRES achieves revenue of 1.3 M€. Revenue is growing positively over 9 years (CAGR: +1.1%). Slight decline of -8% vs 2023. After deducting consumption (0 €), gross margin stands at 1.3 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 1.0 M€, representing 78.2% of revenue. Positive scissor effect: EBITDA margin improves by +6.8 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 239 k€, i.e. 18.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1516%. 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 6%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 7.7 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 51.2% 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 454.73. 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 26.6x. 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: 56 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 110 days. Excellent situation: suppliers finance 54 days of the operating cycle (retail model). Overall, WCR represents 63 days of revenue, i.e. 225 k€ to permanently finance. Over 2016-2024, WCR increased by +79%, requiring additional financing.

Based on 85 transactions of similar company sales (all years), the value of SOCIETE D'EXPLOITATION DU PARC EOLIEN LES CINQ HETRES is estimated at 1 616 898 € (range 220 455€ - 6 410 043€). With an EBITDA of 1 002 792€, 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.