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La Sia

presented by October Italy



48 months


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Roma, Italy



Marketing surveys & consulting

Presentation of the company

Created in 2004, La Sia S.r.l. is active in the engineering sector. The company, managed by Maurizio Ciardi, has 40 employees and is based in Rome (Italy).

Maurizio Ciardi, managing director, has overall 35 years of professional experience in the sector.

The company’s main activity is to offer 360 degree design services, from structural design to plant engineering and architectural design.

The company works with 8 branches spread all over the Italy serving customers mainly belonging to the telecommunication sector.

Project Description

The company requests a loan of 500 000 € over 48 months to finance restructuring costs of two offices and to buy hardware like PC, Laptop, Monitor and software licenses to support business growth. 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 245 000 €, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 7 830 319 € in 2017 and an experienced team, the company has a good track record combined with a strong operating margin.

Increase of sales and profitability is driven by bigger orders acquired and lower incidence of fixed costs. The forecast is based on the performance of 2017 and provisional account at 2018 which shows an increase in revenues and in profitability.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,33 and an excellent financial structure, with a forecast net debt / ebitda ratio of 0,04 and a net debt / shareholder equity of 4%.

The analysis of the project leads to a credit rating of B+ and a 5,5% annual interest rate.

*The multiple of FCCR at 1,33 means that the company has a safety margin of 33% 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;
  • Good repayment ability with a forecasted FCCR of 1,33;
  • Historical relationship with big customers.

Points of caution:

  • Concentration of customers.