SOGIMEX : revenue, balance sheet and financial ratios

In 2024, SOGIMEX achieves revenue of 2.0 M€. Over the period 2016-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +5.7%. Vs 2023, growth of +30% (1.5 M€ -> 2.0 M€). After deducting consumption (1.5 M€), gross margin stands at 436 k€, i.e. a rate of 22%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 117 k€, representing 5.9% of revenue. Positive scissor effect: EBITDA margin improves by +5.3 pts, sign of improved operational efficiency. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 80 k€, 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 4%. 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 76%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 5.4% 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 471.24. 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 10.7x. 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: 19 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 29 days. Favorable situation: supplier credit is longer than customer credit by 10 days. Overall, WCR represents 7 days of revenue, i.e. 39 k€ to permanently finance. Notable WCR improvement over the period (-74%), freeing up cash.

Based on 229 transactions of similar company sales (all years), the value of SOGIMEX is estimated at 315 311 € (range 132 770€ - 898 519€). With an EBITDA of 117 400€, the sector multiple of 1.6x is applied. The price/revenue ratio is 0.32x (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.