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Groupe Seeb

presented by October France

€2,000,000

6%

54 months

B

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location

Location

Chauffailles, France

activity

Activity

Financial

Warning

Unfortunately, you cannot lend to this project.

Why? Why? Because this project* does not fall within the regulatory framework of October IFP, defined by the ordinance of 30 May 2014 (ordinance on participatory financing). It is therefore not offered to individual lenders as part of participatory financing.

*According to the Ordinance of 30 May 2014, a project consists of a purchase or a set of purchases of goods or services contributing to the completion of a predefined transaction in terms of purpose, amount and timetable.

Presentation of the company

Created in 2002, Groupe Seeb is active in the industrial sector. The company, managed by Bertrand Lajugie, has 240 employees and is based in Chauffailles.

The company’s main activities are:

  • mecanical outsourcing
  • industrial engineering
  • manufacture of sawing equipment

The company works with private companies in many industrial sector.

Project Description

The company requests a loan of 2 000 000 € over 54 months to finance part of the repayment of a 2.5M€ bond, the balance being financed by cash. This project will be realised in the next few months.

The amount offered on the platform is limited to 980 000€, 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 34 430 000 € in 2018 and an experienced team, the company has a good track record combined with a strong operating margin.

The turnover increase is linked to a higher order book. In 2017, the profitability increase is linked to a production rationalization The forecast is based on the performance of last’s year activity.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,24 and a strong financial structure, with a forecast net debt / ebitda ratio of 1.9 and a net debt / shareholder equity of 135 % .

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

*The multiple of FCCR at 1,24 means that the company has a safety margin of 24% 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 1,24.
  • Leader in the wood cut industry machining.

Point of caution:

  • High annual Capex level to be always on the top from a technology standpoint.