SOCIETE D'EXPLOITATION ET D'ACTION LOCALE DE L'AEROPORT POITIERS-BIARD : revenue, balance sheet and financial ratios

In 2024, SOCIETE D'EXPLOITATION ET D'ACTION LOCALE DE L'AEROPORT POITIERS-BIARD achieves revenue of 3.2 M€. Over the period 2020-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +19.0%. Slight decline of -2% vs 2023. After deducting consumption (21 k€), gross margin stands at 3.1 M€, i.e. a rate of 99%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 267 k€, representing 8.5% of revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 89 k€, i.e. 2.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 26%. 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 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 1.6 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.2% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 97.77. 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 12.2x. 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: 13 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 108 days. Excellent situation: suppliers finance 95 days of the operating cycle (retail model). Inventory turnover is 1 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 127 days of revenue, i.e. 1.1 M€ to permanently finance. Over 2020-2024, WCR increased by +182%, requiring additional financing.

Based on 205 transactions of similar company sales (all years), the value of SOCIETE D'EXPLOITATION ET D'ACTION LOCALE DE L'AEROPORT POITIERS-BIARD is estimated at 279 134 € (range 139 693€ - 772 643€). With an EBITDA of 266 860€, 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.