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AB Custom Transport & Logistics

presented by October Spain

€120,000

6.1%

48 months

B

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location

Location

Parets del Vallès, Spain

activity

Activity

Transport

Presentation of the company

Created in 2007, AB Custom Transport & Logistics SL is active in the logistic sector. The company, managed by Alberto Bernedo, has 120 employees and is based in Barcelona.

Mr. Alberto Bernedo, managing director, has overall 15 years of professional experience in the sector.

The company’s main activity is:

  • Transportation and installation of furniture and other decoration items.

The company works with a relatively concentrated client base, such as La Maison du Monde or IKEA.

Project Description

The company requests a loan of 120.000 € over 48 months to finance the purchase 2 land lots in Madrid. This project will be realised next month.

The amount offered on the platform is limited to 58.800€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 14.967.422 € in 2017 and an experienced team, the company has a good track record combined with an acceptable operating margin.

Better margins in 2016 were driven by lower costs of gasoline. The forecast is based on the performance in 2018, where the company reported a 18.854.821€ turnover and a pre-tax profit of 648.284€

The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,63 and a good financial structure, with a forecast net debt / ebitda ratio of 2,88 and a net debt / shareholder equity of 142%.

The analysis of the project leads to a credit rating of B and a 6,1% annual interest rate.

*The multiple of FCCR at 1,63 means that the company has a safety margin of 63% 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 1,63x.
  • Management has over 15 years of experience in the sector.

Points of caution:

  • Strong copmetition in the sector.