SOCODIM NORD LOISIRS : revenue, balance sheet and financial ratios

In 2024, SOCODIM NORD LOISIRS achieves revenue of 8.8 M€. Over the period 2018-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +16.0%. Vs 2023: +1%. After deducting consumption (7.7 M€), gross margin stands at 1.1 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 75 k€, representing 0.9% of revenue. Warning negative scissor effect: despite revenue change (+1%), EBITDA varies by -80%, reducing margin by 3.5 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 13 k€, i.e. 0.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 120%. Debt level is high: negotiating margin with banks is reduced. Financial autonomy (= Equity / Total assets x 100) reaches 25%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 43.8 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 0.3% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 214.44. 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 61.5x. 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: 2 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 60 days. Excellent situation: suppliers finance 58 days of the operating cycle (retail model). Inventory turnover is 125 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 131 days of revenue, i.e. 3.2 M€ to permanently finance. Over 2018-2024, WCR increased by +315%, requiring additional financing.

Based on 56 transactions of similar company sales (all years), the value of SOCODIM NORD LOISIRS is estimated at 361 897 € (range 242 524€ - 1 292 655€). With an EBITDA of 75 231€, the sector multiple of 0.8x is applied. The price/revenue ratio is 0.13x (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.