SOGEPROM REALISATIONS : revenue, balance sheet and financial ratios

In 2024, SOGEPROM REALISATIONS achieves revenue of 97.6 M€. Revenue is growing positively over 9 years (CAGR: +3.9%). Significant drop of -49% vs 2023. After deducting consumption (84.4 M€), gross margin stands at 13.2 M€, i.e. a rate of 14%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 2.7 M€, representing 2.7% of revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 4.0 M€, i.e. 4.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 2789%. 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 1%. Low autonomy: the company heavily depends on external financing (banks, suppliers). Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 19.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 6.1% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. Satisfactory level allowing partial financing of growth.

The liquidity ratio (= Current assets / Current liabilities) stands at 706.50. 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 144.0x. 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: 430 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 84 days. The gap of 346 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 491 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 352 days of revenue, i.e. 95.3 M€ to permanently finance. Over 2016-2024, WCR increased by +1777%, requiring additional financing.

Based on 80 transactions of similar company sales (all years), the value of SOGEPROM REALISATIONS is estimated at 11 389 660 € (range 4 075 451€ - 29 333 677€). With an EBITDA of 2 659 872€, 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.