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Holbox

presented by October Netherlands

€1,000,000

6%

60 months

B+

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Warning Lending money to SMEs presents a risk of capital loss and requires your savings to be immobilised.

location

Location

Echt, Netherlands

activity

Activity

Industry

Presentation of the company

Created in 20-07-1995, Holbox B.V is active in the designing, shaping and producing in-store displays. The company, managed by Jan and Martijn Hol, has 400 employees and is based in Echt.

The company’s main activities are:

  • First Design of displays and packaging
  • Production and printing of displays and packaging
  • Assembling of displays

The company works with productmanagers and marketingspecialists of A-brands and advertisementcompanies.

Holbox B.V executes the total process, from the first design to the logistics of the in-store displays. The company has the machinery to manage the total supplychain, like printers, punching and welding machines as well as transport.

Because of this, the company is able to deliver within 10 days and guarantee a high level of quality. “

Project Description

The company requests a loan of 1.000.000 € over 60 months to finance the repayment of a loan of LIOF of € 600,000. LIOF is the Development and Investment Company for the Dutch province of Limburg. Because Holbox B.V has revenue-wise grown to large to be eligible for the SME fund of LIOF, the company wants to repay the loan, next to investment in a new webshop and software of € 400,000. This project will be realised in the next few months.

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

Analyst’s opinion

With a turnover of 24 870 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

Forecast is based on 2018 realised results, which show a slight increase in revenue as a result of new clients.

The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,91 and a strong financial structure, with a forecast net debt / ebitda ratio of 1,68 and a net debt / shareholder equity of 173%.

The analysis of the project leads to a credit rating of B+ and a 6,0% 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.
  • Solid repayment ability with a forecasted FCCR of 1,91.
  • The company is marketleader in it’s segment

Points of caution:

  • Majority of clients active in cyclical sector