VISION MEDITERRANEE IMMOBILIER : revenue, balance sheet and financial ratios

In 2021, VISION MEDITERRANEE IMMOBILIER achieves revenue of 155 k€. Activity remains stable over the period (CAGR: -4.3%). Slight decline of -2% vs 2020. After deducting consumption (0 €), gross margin stands at 155 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 7 k€, representing 4.5% of revenue. Warning negative scissor effect: despite revenue change (-2%), EBITDA varies by -71%, reducing margin by 11.0 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 18 k€, i.e. 11.7% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 47%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 62%. 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 29.0 years of cash flow to repay all financial debt. Beyond 7 years, banks generally consider credit risk as high. Cash flow represents 10.7% 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 515.61. 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 12.0x. 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: 8 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 357 days. Excellent situation: suppliers finance 349 days of the operating cycle (retail model). Overall, WCR represents 1073 days of revenue, i.e. 461 k€ to permanently finance. Notable WCR improvement over the period (-61%), freeing up cash.

Based on 98 transactions of similar company sales in 2021, the value of VISION MEDITERRANEE IMMOBILIER is estimated at 57 303 € (range 26 120€ - 122 682€). With an EBITDA of 7 006€, the sector multiple of 5.2x is applied. The price/revenue ratio is 0.46x (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.