SOCIETE NOUVELLE ROHRBACH AUTOMOBILES : revenue, balance sheet and financial ratios

In 2023, SOCIETE NOUVELLE ROHRBACH AUTOMOBILES achieves revenue of 761 k€. Revenue is declining over the period 2016-2023 (CAGR: -10.4%). Slight decline of -8% vs 2022. After deducting consumption (320 k€), gross margin stands at 441 k€, i.e. a rate of 58%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 201 k€, representing 26.4% of revenue. Positive scissor effect: EBITDA margin improves by +4.6 pts, sign of improved operational efficiency. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 50 k€, i.e. 6.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 51%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 52%. 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 1.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 23.7% 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 89.21. 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 5.0x. 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: 23 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 116 days. Excellent situation: suppliers finance 93 days of the operating cycle (retail model). Inventory turnover is 8 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 51 days of revenue, i.e. 107 k€ to permanently finance. Notable WCR improvement over the period (-76%), freeing up cash.

Based on 276 transactions of similar company sales (all years), the value of SOCIETE NOUVELLE ROHRBACH AUTOMOBILES is estimated at 1 858 047 € (range 371 985€ - 2 690 798€). With an EBITDA of 201 241€, the sector multiple of 11.9x is applied. The price/revenue ratio is 2.33x (premium 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.