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Berkel en Rodenrijs, Netherlands
Created in 2009, Little Dutch Trading B.V. is active in the children and baby supplies sector. The company, managed by Ad Ammerlaan, has 30 employees and is based in Berkel en Rodenrijs. Since its foundation, Little Dutch has grown into an established name in The Netherlands and Europe. With more than 850 points of sale, both offline and online, the brand offers more than 1500 items, accessories and toys for babies and children.
The company’s main activity is:
– Design and sales of items, accessories and toys for children and babies
The company works with Amazon, Bol.com, Top1Toys and numerous retailers
The company requests a loan of 350,000 € over 24 months to finance the growth of the company including the acquisition of inventory to support the growing order book. This project will be realised by the end of the year.
The amount offered on the platform is limited to 171500€, which is in line with the regulatory limits
The borrower is the main operating company representing 97% of the group’s turnover and 95% of the profitability. The financial analysis was carried out on the consolidated financial statements, which reflects the group’s performance.
With a turnover of 4 631 000 € in 2018 and an experienced team, the company has a good track record combined with a strong operating margin.
The forecast is based on the actual performance of 2018, the internal January-April 2019 figures and the order book of 2019 at similar profitabily levels.
The borrower has a correct repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1.11 and a strong financial structure, with a forecast net debt / ebitda ratio of 0.98 and a net debt / shareholder equity of 88%.
The analysis of the project leads to a credit rating of C and a 6.5% annual interest rate.
*The multiple of FCCR at 1.11 means that the company has a safety margin 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 (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.
– Excellent historical performance and significant growth based on diversified client base
– Good repayment ability with a forecasted FCCR of 1.11
– Well-established brand with much growth potential in Europe
Points of caution:
– Cyclical market
– Operational risks related to fast growth