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Eusebio Sald

presented by October Italy

€230,000

6%

36 months

C

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location

Location

Settimo Torinese, Italy

activity

Activity

Industry

Presentation of the company

Created in 2009, Eusebio Sald S.r.l. is active in the precision welding sector. The company, managed by Roberto Eusebio, has 8 employees and is based in Settimo torinese.

Mr. Roberto Eusebio, managing director, has overall 20 years of professional experience in the sector.

The company’s main activity is the provide of laser and TIG welding services.

The company works with prominent companies in various sectors such as automotive, aerospace, medical and power generation.

Project Description

The company requests a loan of 230 000 € over 36 months to finance the acquisition of a new fiber optic laser welding machine that will enable the company to triple the current performance while using less energy. This project will be realized next month.

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 112 700 €, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 1 084 000 € in 2018 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The turnover has increased in 2018 thanks to the acquisition of two important clients during 2017 while the profitability has decreased due to the lower margin of works performed for these new clients The forecast is based on the historical performance and 2018 approved financial statements

The borrower has a correct repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1.06 and a strong financial structure, with a forecast net debt / ebitda ratio of 2.46 and a net debt / shareholder equity of 272%.

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

*The multiple of FCCR at 1.06 means that the company has a 6% margin of safety in relation to its ability to repay its credit maturities.

The expert opinion is given for information purposes on the basis of the information provided by the project leader and information from our databases (external data file). 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;
  • Correct repayment ability with a forecasted FCCR of 1.06 reinforced by the support of banking pool;
  • Very specialized company providing high value added services

Points of caution:

  • Small company in a niche market.