SOCIETE MARITIME D'ARMENT DE BRETAGNE : revenue, balance sheet and financial ratios

In 2025, SOCIETE MARITIME D'ARMENT DE BRETAGNE achieves revenue of 28.4 M€. Over the period 2016-2025, the company shows strong growth with a CAGR (compound annual growth rate) of +8.1%. Vs 2024, growth of +65% (17.3 M€ -> 28.4 M€). After deducting consumption (0 €), gross margin stands at 28.4 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 14.6 M€, representing 51.4% of revenue. Warning negative scissor effect: despite revenue change (+65%), EBITDA varies by -2%, reducing margin by 34.9 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 9.7 M€, i.e. 34.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 19%. 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 80%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 2.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 46.4% 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 374.94. 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 11.1x. 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: 69 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 53 days. The company must finance 16 days of gap between collections and payments. Overall, WCR represents 274 days of revenue, i.e. 21.6 M€ to permanently finance. Over 2016-2025, WCR increased by +99%, requiring additional financing.

Based on 100 transactions of similar company sales (all years), the value of SOCIETE MARITIME D'ARMENT DE BRETAGNE is estimated at 21 277 321 € (range 6 801 697€ - 45 944 160€). With an EBITDA of 14 624 035€, the sector multiple of 1.6x 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.