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48 months


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Modena, Italy




Presentation of the company

Created in 1997, Meccano S.r.l. is active in the industrial automation sector. The company, managed by Roberto Malagoli, has 22 employees and is based in Modena.

Mr. Roberto Malagoli, managing director, has overall 20 years of professional experience in the sector.

The main activity of the company is the development of industrial automations.

The company works with several Italian and international clients working in different industries such as automotive, packaging and oleodynamic.

Project Description

The company requests a loan of 150 000 € for 48 months to finance the acquisition of a new rectifier machine that will allow the company to insource an activity today outsourced, generating cost savings . This project will be realized in the next few months.

This project is not covered by the Italian state guarantee.

The amount offered on the platform is limited to 73 500 €, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 8 006 012 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

2018 financials show a stable level of turnover and slightly increased profitability The forecast is based on the performance in 2018 and the order profolio on 2019 and 2020.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,24 and a good financial structure, with a forecast net debt / ebitda ratio of 4,1 and a net debt / shareholder equity of 284%.

The analysis of the project leads to a credit rating of B and a 7,1% 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;
  • Company working in a niche market with longstanding relationship with main clients.

Points of caution:

  • High level of financial debt due to the investments done in the last years.