SODEREC INTERNATIONAL : revenue, balance sheet and financial ratios

In 2024, SODEREC INTERNATIONAL achieves revenue of 8.8 M€. Revenue is growing positively over 9 years (CAGR: +1.7%). Vs 2023: +7%. After deducting consumption (3.7 M€), gross margin stands at 5.1 M€, i.e. a rate of 58%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 729 k€, representing 8.3% of revenue. Warning negative scissor effect: despite revenue change (+7%), EBITDA varies by -36%, reducing margin by 5.5 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 229 k€, i.e. 2.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 17%. 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 40%. The balance between equity and debt is satisfactory. 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 4.7% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 125.84. 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 8.1x. 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: 50 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 71 days. Favorable situation: supplier credit is longer than customer credit by 21 days. Inventory turnover is 32 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 79 days of revenue, i.e. 1.9 M€ to permanently finance.

Based on 74 transactions of similar company sales (all years), the value of SODEREC INTERNATIONAL is estimated at 542 915 € (range 269 633€ - 1 380 425€). With an EBITDA of 729 136€, the sector multiple of 0.6x is applied. The price/revenue ratio is 0.11x (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.