TRANSART INTERNATIONAL : revenue, balance sheet and financial ratios

In 2024, TRANSART INTERNATIONAL achieves revenue of 3.5 M€. Activity remains stable over the period (CAGR: -1.8%). Significant drop of -16% vs 2023. After deducting consumption (57 k€), gross margin stands at 3.5 M€, i.e. a rate of 98%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 156 k€, representing 4.4% of revenue. Warning negative scissor effect: despite revenue change (-16%), EBITDA varies by -69%, reducing margin by 7.4 pts. This reflects costs rising faster than revenue. The operating margin remains fragile, requiring cost vigilance. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 92 k€, i.e. 2.6% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 37%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 50%. 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 2.9 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 3.9% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment.

The liquidity ratio (= Current assets / Current liabilities) stands at 318.84. 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 1.2x. Coverage is limited: any activity downturn would jeopardize interest payments.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 36 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 22 days. The company must finance 14 days of gap between collections and payments. Inventory turnover is 5 days (= Average inventory / Cost of goods x 360). Fast turnover, sign of good inventory management. Overall, WCR represents 86 days of revenue, i.e. 838 k€ to permanently finance. Over 2016-2024, WCR increased by +353%, requiring additional financing.

Based on 77 transactions of similar company sales (all years), the value of TRANSART INTERNATIONAL is estimated at 253 064 € (range 141 278€ - 633 002€). With an EBITDA of 155 609€, the sector multiple of 1.0x is applied. The price/revenue ratio is 0.14x (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.