Movipack

Presentation of the company

Created in 2012, Movipack S.r.l.  is active in the production of industrial machines for packaging and handling and in the industrial gas distribution sector. The company, managed by Pasquale Carmine Faiella, has 5 full-time and 4 temporary employees and is based in Sarnico (Italy).

The company’s main activities are:

• Design and production of industrial machines aimed at the robotization of industrial handling and packaging processes;
• Distribution of industrial technical gas on behalf of Linde Gas.

The company works with 80 clients and has installed machines in Italy and the rest of the world for the food packaging sector while it works with an additional 160 clients for the gas distribution business line.

Project Description

The company wishes to borrow 120 000 € over 36 months to finance the expansion of the research and development department of the company, registration of two patents and the development of a new industrial machine for the food and beverage sector . This project will be realised by the end of the year.

The amount offered on the platform is limited to 58 800 €, in line with regulatory limits.

This project is not covered by the Italian state guarantee.

Like all projects presented to private lenders on Lendix, it is co-financed with institutional investors, sophisticated investors and the management of Lendix, subscribers to the Lendix Fund.

Analyst’s Opinion

With a turnover of 1 119 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The company has been growing steadily especially thanks to expansion of the export market. The forecast is based on the historical performance and trend of the company.

The borrower has an excellent repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1.65 and a good financial structure with a positive cash balance.

The analysis of the project leads to a credit rating of C and a 7% annual interest rate.

Strong Points:

• Good historical performance based on diversified client base;
• Excellent repayment ability with a forecasted FCCR of 1,65;
• Highly valuable technical know-how of the employees.

Points of Vigilance:

• Client concentration.

*The multiple of FCCR at 1,65 means that the company has a safety margin of 65 % 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 (ModeFinance, Crif, Cerved). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.