SOCIETE HAVRAISE D HOTELLERIE : revenue, balance sheet and financial ratios

In 2024, SOCIETE HAVRAISE D HOTELLERIE achieves revenue of 4.0 M€. Revenue is growing positively over 7 years (CAGR: +1.4%). Slight decline of -6% vs 2023. After deducting consumption (321 k€), gross margin stands at 3.7 M€, i.e. a rate of 92%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 818 k€, representing 20.5% of revenue. Warning negative scissor effect: despite revenue change (-6%), EBITDA varies by -30%, reducing margin by 7.0 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 522 k€, i.e. 13.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 424%. 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 15%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 15.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 146.75. 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 6.1x. 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: 9 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 60 days. Excellent situation: suppliers finance 51 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 86 days of revenue, i.e. 949 k€ to permanently finance. Over 2016-2024, WCR increased by +1644%, requiring additional financing.

Based on 99 transactions of similar company sales in 2024, the value of SOCIETE HAVRAISE D HOTELLERIE is estimated at 3 030 281 € (range 1 002 770€ - 5 794 645€). With an EBITDA of 818 295€, the sector multiple of 4.8x is applied. The price/revenue ratio is 0.54x (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.