SPL HALLES ET REPUBLIQUE : revenue, balance sheet and financial ratios

In 2024, SPL HALLES ET REPUBLIQUE achieves revenue of 1.9 M€. Over the period 2019-2024, the company shows strong growth with a CAGR (compound annual growth rate) of +27.8%. Slight decline of -1% vs 2023. After deducting consumption (373 k€), gross margin stands at 1.5 M€, i.e. a rate of 80%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 172 k€, representing 9.2% of revenue. Warning negative scissor effect: despite revenue change (-1%), EBITDA varies by -19%, reducing margin by 2.1 pts. This reflects costs rising faster than revenue. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 108 k€, i.e. 5.8% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 10%. 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 41%. 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 0.4 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 6.9% 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 175.98. 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 0.2x. 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: 41 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 152 days. Excellent situation: suppliers finance 111 days of the operating cycle (retail model). Inventory turnover is 3 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 40 days of revenue, i.e. 207 k€ to permanently finance. Over 2019-2024, WCR increased by +50%, requiring additional financing.

Based on 69 transactions of similar company sales in 2024, the value of SPL HALLES ET REPUBLIQUE is estimated at 881 835 € (range 342 638€ - 1 365 183€). With an EBITDA of 171 578€, the sector multiple of 4.3x is applied. The price/revenue ratio is 0.66x (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.
Medium reliability: estimate to be confirmed with in-depth analysis.