La Manufacture Paris

Presentation
of the company

Created in 2011, LA MANUFACTURE PARIS is a company specialized in linking visual identity creation studios and professional clients. The company, managed by Clément Lafoy, employs 3 people and is based in Paris.

The company’s activities are:

– The relationship between specialized studios and end customers.

– Communications campaign management entirely in 3D.

The company works with some thirty professional clients, including SMEs and large groups including Publicis, Havas and Guerlain. Clients are connected to a base of 20 renowned international studios.

The company is very well positioned in its market with few competitors. It stands out from the competition by its seniority, its privileged relationships with renowned studios and its portfolio of regular clients.

Key
figures

Learn more about the key financial ratios used in the project’s credit analysis.

Project
Description

The company wishes to borrow 104 000€ over 36 months, to finance a new computer park. This computer equipment will improve data processing and communication with customers and studios. Installation is scheduled within the month.

This is a flexible bridge loan, offering the borrower the possibility to prepay without fees beyond the first 9 months.

Like all projects presented to private lenders on Lendix, it is co-financed with institutional investors, sophisticated investors and the management of Lendix, subscribers to the Lendix Fund.

Analyst’s
Opinion

With a turnover of €1,459,092 in 2017 and an experienced team, the company has a good performance record in terms of activity combined with solid operating profitability.

Over the last 3 years, the increase in turnover has been linked to the development of the customer portfolio.

The forecast has been prepared on the basis of 2017 performance.

The borrower has a solid repayment capacity with a Fixed Charge Cover Ratio* (FCCR) of 1.21 and a good financial structure with a net debt to EBITDA ratio of 3.1 and net debt to equity ratio of 131.0% by integrating partners’ current accounts blocked during the Lenidx financing period.

The analysis of the project and the borrower leads to a C rating with a good financial solidity and a rate of 6.20% per year.

Highlights :

• Good performance history on a diversified client base
• Excellent market positioning thanks to a strong reputation
• Good repayment capacity with a CCRF of 1.2

Point de Vigilance :

• Relatively long payment terms for customers

The multiple of CRFC at 1,21 means that the company has a safety margin of 21% 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 (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.