SOCIETE SUPPORT DU PROGRAMME LES JARDINS DE ROMANE TRANCHE 2 : revenue, balance sheet and financial ratios

In 2024, SOCIETE SUPPORT DU PROGRAMME LES JARDINS DE ROMANE TRANCHE 2 achieves revenue of 30 k€. Revenue is declining over the period 2020-2024 (CAGR: -61.4%). Significant drop of -97% vs 2023. After deducting consumption (-36 k€), gross margin stands at 66 k€, i.e. a rate of 221%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 44 k€, representing 147.9% of revenue. Positive scissor effect: EBITDA margin improves by +134.3 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 25 k€, i.e. 83.2% 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 33%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.5 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 83.2% 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 166.09. 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 31.6x. 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: 1 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: -3132 days. The gap of 3133 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 934 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 1409 days of revenue, i.e. 117 k€ to permanently finance. Notable WCR improvement over the period (-73%), freeing up cash.

Based on 80 transactions of similar company sales (all years), the value of SOCIETE SUPPORT DU PROGRAMME LES JARDINS DE ROMANE TRANCHE 2 is estimated at 36 420 € (range 13 708€ - 105 915€). With an EBITDA of 44 269€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.28x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.