SOCIETE NORMANDE D'AMENAGEMENT FONCIER : revenue, balance sheet and financial ratios

In 2024, SOCIETE NORMANDE D'AMENAGEMENT FONCIER achieves revenue of 1.8 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +61.1%. Significant drop of -14% vs 2023. After deducting consumption (273 k€), gross margin stands at 1.5 M€, i.e. a rate of 85%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 107 k€, representing 6.0% of revenue. Warning negative scissor effect: despite revenue change (-14%), EBITDA varies by -53%, reducing margin by 5.0 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 58 k€, i.e. 3.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 46%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 64%. 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 23.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 3.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 1431.48. 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 28.4x. 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: 165 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 26 days. The gap of 139 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 770 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 943 days of revenue, i.e. 4.7 M€ to permanently finance.

Indicative estimate only : the number of comparable transactions in this sector is limited (22 transactions). This range of 387 583€ to 905 631€ is provided for information purposes only and requires in-depth analysis to be confirmed.