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Lilly Confezioni

presented by October Italy

€250,000

6.3%

42 months

B

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location

Location

Cornedo Vicentino, Italy

activity

Activity

Industry

Company Presentation

Created in 2015, Lilly Confezioni is active in the fashion sector. The company, managed by Leo Alessandro, has 73 employees and is based in Vicenza.

The company’s main activities are:

  • Modelling and prototype clothings;
  • Manufacturing light clothing like trousers, skirts and dresses;
  • Manufacturing men’s and women’s coats, jackets and sportswear.

The company works with leading luxory intarnational brands.

The Company was set up by a pool of investors and managers with experience in the fashion industry acquiring distressed companies with strong know how and experienced resources.

Key Numbers

Find out all the details of the financial indices used in the project credit analysis.

https://help.lendix.com/tutorials-in-english/understand-and-analyze-projects/understanding-key-financial-figures

Project Presentation

The company wishes to borrow 250 000 € over 42 months to finance the acquisition of new small productions machinery and a new accounting & CRM system. This project will be realised this semester.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 12 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

Analyst Opinion

With a turnover of 4 306 000 € in 2017 and an experienced team, the company has a good track record combined with a strong operating margin.

Turnover growth is mainly driven by the integration of the new business lines and acquisition of new customers. The forecast is based on the 2017 performance and considering orders already acquired.

The borrower has a correct repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,11 and a good financial structure, with a forecast net debt / ebitda ratio of 0,98 and a net debt / shareholder equity of 82% taking into consideration a capital increase that will be done for 80 000€ before Lendix loan and for 70 000 € before the 31st of July 2018

The analysis of the project leads to a credit rating of B and a 6,3% annual interest rate.

Strong points:

  • Good historical performance based on diversified client base;
  • Correct repayment ability with a FCCR of 1,11 reinforced by the support of shareholders;
  • Management with long and relevant experience in the industry.

Points of vigilence:

  • Fast growing company with increased financing needs and investments

*The multiple of FCCR at 1,11 means that the company has a margin of safety of 11% 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 (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.