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A & A Marketing Service

gepresenteerd door October Italië

€300.000

6.7%

24 maanden

C

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location

Locatie

Milano, Italië

activity

Sector

Commerce

Presentation of the company

Created in 2008, A&A Marketing Service S.r.l. is active in the mattress and pool distribution sector. The company, managed by Giorgio Anelli, has 11 employees and is based in Milan (Italy).

The company’s main activity is:

– Exclusive distribution of Intex products thoughout Italian market

The company works with a diversified customer base, including Amazon, Auchan, Autogrill, Coop, Rotex, Obi and Kasanova.

Project Description

The company wishes to borrow 300 000 € over 24 months to finance marketing campaigns with the aim of enhancing brand awareness, the expansion of Intex stores over Italian territory and the consolidation of Intex presence on e-commerce sites This project will be realised in the next few months.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

This project is not covered by a guarantee.

The amount offered on the platform is limited to 147 000 €, in line with regulatory limits.

Analyst’s Opinion

With a turnover of 16 796 000 € in 2017 and an experienced team, the company has a good track record combined with a strong operating margin.

Increase of T/O driven by the distribution of Intex’s products throughout Italian market and by the rising success of e-commerce channels. Ebitda margin is stable at 8%.

The borrower has a correct repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,01 and a good financial structure, with a forecast net debt / ebitda ratio of 3,42 and a net debt / shareholder equity of 147%.

The analysis of the project leads to a credit rating of C and a 6,70% annual interest rate.

Strong points:

  • Good historical performance based on diversified client base;
  • Correct repayment ability with a forecasted FCCR of 1,01 reinforced by the support of shareholders;
  • Exclusive distribution rights of Intex products on Italian market.

Points of vigilance:

  • High levels of financing requirement to sustain the operating business.

*The multiple of FCCR at 1,01 means that the company has a safety margin of 1 % relative to its ability to repay its credit maturities.

The expert opinion is given as an indication on the basis of the elements provided by the project holder and information from our databases (ModeFinance, Crif). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.