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CRJ Audio Visueel B.V.

presented by October Netherlands

€72,500

5.05%

6 months

B

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location

Location

Ridderkerk, Netherlands

activity

Activity

Business services

Presentation of the company

Created in 22-11-2004, CRJ Audiovisueel B.V. is active in the Installation of electronic and opitcal equipment sector. The company, managed by Christiaan Roffel, has 5 employees and is based in Ridderkerk.

The company’s main activity is the installation of audiovisual solutions for stores, boardrooms and meeting rooms.

The company works with Nike, Samsung, Roompot and various contractors.

Project’s description

The company requests a loan of 72 500 € over 6 months with 1 month of deferred repayment to finance The audiovisual equipment for furnishing Nike’s flagship store in London. This project will be realized this semester.

The amount offered on the platform is limited to 35 525 €, which is in line with the regulatory limits.

Analyst’s opinion

The borrower is the main operating company representing 96% of the group’s turnover and 90% of the profitability. The financial analysis was carried out on the consolidated financial statements, which reflects the group’s performance.

With a turnover of 1 045 000 € 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 performance of 2017 and the order book for 2019

The group has a correct repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio*) at 1.13 and a strong financial structure, with a forecast net debt / ebitda ratio of 0.14 and a net debt / shareholder equity of 19%.

The analysis of the project leads to a credit rating of B and a 5.05% annual interest rate.

*The multiple of FCCR at 1.13 means that the company has a safety margin of 13% 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 and long-term experience in audiovisual sector;
  • Good repayment ability with a forecasted FCCR of 1.13;
  • Clear repayment capacity due to signed contract.

Points of caution:

  • Customer concentration;
  • Execution risk of large projects.