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Constar Beheer B.V.

presented by October Netherlands

€1,000,000

3.5%

12 months

A

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location

Location

Tiel, Netherlands

activity

Activity

Industry

Presentation of the company

Constar Beheer B.V. is the holding company of the Constar group set up in 4/4/1984, active in the Concrete production sector, managed by A. de Regt and G. Boers, has 100 employees and is based in Tiel.

The company’s main activities are:

  • Production of wet concrete
  • Production of concrete sheets and blocks
  • Production of prefab concrete building parts

The company works with o.a. Aalbers, Dura Vermeer, VolkerWessels and various Dutch municipalities

Project description

The company requests a loan of 1,000,000 € over 12 months to finance inventory for the growth of the company. This project will be realised by the end of the year.

The amount offered on the platform is limited to 490000€, which is in line with the regulatory limits.”

Analyst’s opinion

The borrower is a holding company whose revenues are derived from services invoiced to its subsidiaries. The financial analysis was carried out on consolidated financial statements, which reflect the group’s performance.

With a turnover of 41 703 000 € in 2017 and an experienced team, the group has a good track record combined with a two-digits operating margin.

The forecast is based on the internal figures of 2018.

The group has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1.91 and an excellent financial structure, with a forecast net debt / ebitda ratio of 0.24 and a net debt / shareholder equity of 11%.

The analysis of the project leads to a credit rating of A and a 3.5% annual interest rate.

*The multiple of FCCR at 1.91 means that the company has a safety margin of 91% 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 1.91
  • Well positioned in a growing market

Points of caution:

  • Cyclical market
  • High yearly maintenance costs