SPL CHERBOURG PORT : revenue, balance sheet and financial ratios

In 2024, SPL CHERBOURG PORT achieves revenue of 20.1 M€. Over the period 2022-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +9.4%. Vs 2023: +5%. After deducting consumption (-396 €), gross margin stands at 20.1 M€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 4.2 M€, representing 20.8% of revenue. Warning negative scissor effect: despite revenue change (+5%), EBITDA varies by -14%, reducing margin by 4.4 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 2.9 M€, i.e. 14.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 26%. 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 65%. 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 3.7 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 10.6% 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 240.18. 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 0.7x. Danger: operating income does not cover interest charges, unsustainable situation.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 40 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 84 days. Excellent situation: suppliers finance 44 days of the operating cycle (retail model). Inventory turnover is 10 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 15 days of revenue, i.e. 848 k€ to permanently finance. Notable WCR improvement over the period (-30%), freeing up cash.

Based on 205 transactions of similar company sales (all years), the value of SPL CHERBOURG PORT is estimated at 3 297 835 € (range 1 431 902€ - 8 806 384€). With an EBITDA of 4 188 012€, the sector multiple of 0.9x is applied. The price/revenue ratio is 0.15x (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.