SOCIETE COOPERATIVE AGRICOLE DE VINIFICATION LES VIGNERONS DE LA VOIE ROMAINE ET DU CABARDES : revenue, balance sheet and financial ratios

In 2024, SOCIETE COOPERATIVE AGRICOLE DE VINIFICATION LES VIGNERONS DE LA VOIE ROMAINE ET DU CABARDES achieves revenue of 6.2 M€. Revenue is growing positively over 5 years (CAGR: +1.1%). Significant drop of -11% vs 2022. After deducting consumption (4.7 M€), gross margin stands at 1.5 M€, i.e. a rate of 24%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 527 k€, representing 8.5% of revenue. Positive scissor effect: EBITDA margin improves by +4.4 pts, sign of improved operational efficiency. This level of operating margin is satisfactory for the sector. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 14 k€, i.e. 0.2% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 65%. Debt remains under control: the company retains capacity to raise new debt if needed. Financial autonomy (= Equity / Total assets x 100) reaches 35%. The balance between equity and debt is satisfactory. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 6.4 years of cash flow to repay all financial debt. This ratio remains within usual banking standards. Cash flow represents 6.4% 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 173.74. 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 25.8x. 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: 148 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 27 days. The gap of 121 days means the company finances its customers for over a month before being paid relative to supplier payments. This weighs on cash flow. Inventory turnover is 244 days (= Average inventory / Cost of goods x 360). This high level ties up cash and potentially creates obsolescence risk. Overall, WCR represents 206 days of revenue, i.e. 3.6 M€ to permanently finance. Notable WCR improvement over the period (-55%), freeing up cash.

Based on 55 transactions of similar company sales (all years), the value of SOCIETE COOPERATIVE AGRICOLE DE VINIFICATION LES VIGNERONS DE LA VOIE ROMAINE ET DU CABARDES is estimated at 1 369 878 € (range 712 410€ - 3 370 830€). With an EBITDA of 527 074€, 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.