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G.M. Cataforesi

presented by October Italy

€600,000

5.2%

48 months

B+

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location

Location

Camposanto, Italy

activity

Activity

Industry

Presentation of the company

Created in 2001, G.M. Cataforesi S.r.l. is active in the coating painting sector. The company, managed by Mario Pinca, has 31 employees and is based in Camposanto (Italy).

Mr. Mario Pinca, managing director, has overall 20 years of professional experience in the sector.

The company’s main activities are:

  • Cataphoresis treatment;
  • Powder coating painting.

The company works with well known luxury car brands and other companies in the automotive sector.

Project Description

The company requests a loan of 600 000 € over 48 months to finance an investment in a powder coating plant to increase the current production capacity and a tensile structure where to store the products before and after processing. This project will be realized by the end of the year.

This project is not covered by the Italian state guarantee.

The amount offered on the platform is limited to 294 000 €, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 5 470 000 € in 2018 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The growth in profitability and sales in 2018 has been driven by the acquisition of new projects. The first trimester of 2019 shows an additional increase in turnover. The forecast is based on the performance of 2018

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1.44 and an excellent financial structure, with a forecast net debt / ebitda ratio of 1.96 and a net debt / shareholder equity of 68%.

The analysis of the project leads to a credit rating of B+ and a 5.2% annual interest rate.

*The multiple of FCCR at 1,44 means that the company has a safety margin of 44% 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;
  • Good repayment ability with a forecasted FCCR of 1,44;
  • Market niche related to luxury brands

Points of caution:

  • Activity connected to automotive industry.