SODIGE : revenue, balance sheet and financial ratios

In 2025, SODIGE achieves revenue of 358 k€. Revenue is declining over the period 2017-2025 (CAGR: -7.8%). Significant drop of -73% vs 2024. After deducting consumption (2.1 M€), gross margin stands at -1.7 M€, i.e. a rate of -484%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 95 k€, representing 26.5% of revenue. Warning negative scissor effect: despite revenue change (-73%), EBITDA varies by -75%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 54 k€, i.e. 15.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 1191%. Critical situation: debt significantly exceeds equity, severely limiting borrowing capacity and exposing the company to default risk. Financial autonomy (= Equity / Total assets x 100) reaches 6%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 18.3 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 15.2% 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 171.90. 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 29.5x. 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: 0 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 97 days. Excellent situation: suppliers finance 97 days of the operating cycle (retail model). Inventory turnover is 2533 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 2563 days of revenue, i.e. 2.5 M€ to permanently finance.

Based on 258 transactions of similar company sales (all years), the value of SODIGE is estimated at 363 834 € (range 144 178€ - 690 425€). With an EBITDA of 94 615€, the sector multiple of 4.9x is applied. The price/revenue ratio is 0.65x (in line with sector norms). 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.