SOCIETE EUROPEENNE DE VEHICULES LEGERS DU NORD - SEVEL NORD : revenue, balance sheet and financial ratios

In 2024, SOCIETE EUROPEENNE DE VEHICULES LEGERS DU NORD - SEVEL NORD achieves revenue of 2.3 Bn€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.0%. Significant drop of -18% vs 2023. After deducting consumption (1.9 Bn€), gross margin stands at 376.3 M€, i.e. a rate of 16%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 112.5 M€, representing 4.9% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 78.2 M€, i.e. 3.4% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2%. 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 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 128.04. 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 10.0x. 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: 42 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 71 days. Favorable situation: supplier credit is longer than customer credit by 29 days. Inventory turnover is 15 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 87 days of revenue, i.e. 556.7 M€ to permanently finance. Over 2016-2024, WCR increased by +45%, requiring additional financing.

Based on 61 transactions of similar company sales (all years), the value of SOCIETE EUROPEENNE DE VEHICULES LEGERS DU NORD - SEVEL NORD is estimated at 284 055 633 € (range 172 290 837€ - 831 786 520€). With an EBITDA of 112 536 483€, the sector multiple of 1.1x is applied. The price/revenue ratio is 0.30x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.