SOCIETE REUNIONNAISE DE DISTRIBUTION PHARMACEUTIQUE : revenue, balance sheet and financial ratios

In 2024, SOCIETE REUNIONNAISE DE DISTRIBUTION PHARMACEUTIQUE achieves revenue of 156.3 M€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +7.6%. Vs 2023: +5%. After deducting consumption (137.1 M€), gross margin stands at 19.2 M€, i.e. a rate of 12%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 6.2 M€, representing 4.0% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 5.8 M€, i.e. 3.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1%. 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 65%. 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 0.1 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 2.5% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 280.65. 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 13.1x. 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: 24 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 35 days. Favorable situation: supplier credit is longer than customer credit by 11 days. Inventory turnover is 74 days (= Average inventory / Cost of goods x 360). Overall, WCR represents 95 days of revenue, i.e. 41.0 M€ to permanently finance. Over 2019-2024, WCR increased by +23%, requiring additional financing.

Based on 124 transactions of similar company sales (all years), the value of SOCIETE REUNIONNAISE DE DISTRIBUTION PHARMACEUTIQUE is estimated at 13 129 488 € (range 6 813 323€ - 41 699 616€). With an EBITDA of 6 213 218€, the sector multiple of 0.7x is applied. The price/revenue ratio is 0.21x (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.