SOGEDEX ACCESSORIES : revenue, balance sheet and financial ratios

In 2024, SOGEDEX ACCESSORIES achieves revenue of 3.7 M€. Revenue is growing positively over 7 years (CAGR: +0.0%). Slight decline of -5% vs 2023. After deducting consumption (1.5 M€), gross margin stands at 2.2 M€, i.e. a rate of 60%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 614 k€, representing 16.7% of revenue. Warning negative scissor effect: despite revenue change (-5%), EBITDA varies by -21%, reducing margin by 3.4 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 494 k€, i.e. 13.5% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 0%. 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 87%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Cash flow represents 12.9% 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 468.69. 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 1.5x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 33 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 45 days. Favorable situation: supplier credit is longer than customer credit by 12 days. Inventory turnover is 96 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 116 days of revenue, i.e. 1.2 M€ to permanently finance. Over 2016-2024, WCR increased by +84%, requiring additional financing.

Based on 145 transactions of similar company sales (all years), the value of SOGEDEX ACCESSORIES is estimated at 1 338 078 € (range 475 325€ - 3 370 762€). With an EBITDA of 613 586€, the sector multiple of 2.6x is applied. The price/revenue ratio is 0.19x (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.