TAITTINGER COMPAGNIE COMMERCIALE ET VITICOLE CHAMPENOISE : revenue, balance sheet and financial ratios

In 2024, TAITTINGER COMPAGNIE COMMERCIALE ET VITICOLE CHAMPENOISE achieves revenue of 170.0 M€. Revenue is growing positively over 9 years (CAGR: +2.8%). Significant drop of -11% vs 2023. After deducting consumption (80.6 M€), gross margin stands at 89.4 M€, i.e. a rate of 53%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 47.0 M€, representing 27.6% of revenue. Warning negative scissor effect: despite revenue change (-11%), EBITDA varies by -20%, reducing margin by 3.2 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 32.8 M€, i.e. 19.3% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 50%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 63%. 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 8.5 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 21.4% 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 752.83. 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 9.0x. 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: 88 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 110 days. Favorable situation: supplier credit is longer than customer credit by 22 days. Inventory turnover is 675 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 833 days of revenue, i.e. 393.3 M€ to permanently finance. Over 2016-2024, WCR increased by +56%, requiring additional financing.

Based on 55 transactions of similar company sales (all years), the value of TAITTINGER COMPAGNIE COMMERCIALE ET VITICOLE CHAMPENOISE is estimated at 92 848 291 € (range 47 695 446€ - 233 874 700€). With an EBITDA of 46 974 468€, the sector multiple of 2.8x is applied. The price/revenue ratio is 0.34x (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.