A.L. Allestimenti

Presentation of the company

Created in 2006, A.L. Allestimenti S.R.L. is active in the trade fair installations sector. The company, managed by Pasquale Alfonso, has 12 employees and is based in Chiuduno. The company has been always managed by the Alfonso family which is composed by 3 siblings and the youngest one is now the managing director.

Mr. Pasquale Alfonso, managing director, has overall 3 years of professional experience in the sector.

The company’s main activity is the design and production of exhibition stands for trade fairs.

The company works with a very diversified portfolio of clients.

The managing director is helped by his siblings and a senior manager who has been in the company since the beginning and has more than 20 years of professional experience in the sector.

Project Description

The company requests a loan of 250,000 € over 36 months to finance the acquisition of a led wall, which consists of a series of smaller led screens than can be combined to form a larger surface. This project will be realised in the next few months.

At least 40% of the risk of this loan is covered by a guarantee from the Republic of Italy via the ‘Fondo di Garanzia PMI’.

The amount offered on the platform is limited to 122 500€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 6 089 000 € in 2018 and an experienced team, the company has a good track record combined with a two-digits operating margin.

Turnover has increased thanks to the laquering services offered that have gained popularity lately. The forecast is based on 2018 performance considering also the historical trends.

The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1.59 and a strong financial structure, with a forecast net debt / ebitda ratio of 1.73 and a net debt / shareholder equity of 283%.

The analysis of the project leads to a credit rating of B and a 5.10% annual interest rate.

*The multiple of FCCR at 1,6 means that the company has a safety margin of 60% 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 (External data provider). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.

Strong points:

• Good historical performance based on diversified client base.
• Excellent repayment ability with a forecasted FCCR of 1,59.
• Flexible and quick services.

Point of caution:

• Small company in a niche market.