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NVP #02

presented by October Italy

€550,000

6.1%

36 months

B

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location

Location

San Piero Patti,Italy

activity

Activity

Information & Communication

Presentation of the company

NVP is the holding company set up in 11/05/2007 to acquire active in the TV broadcasting services sector. Managed by Massimo Pintabona, has 21 employees and is based in San Piero Patti.

The company’s main activities are:

  • TV broadcasting services;
  • TV staff assistance;
  • Corporate TV, commercial campaigns, docufilms and consulting on major TV projects.

The company works with a diversified client base including major TV providers such as Sky Italia, Mediaset, Rai, Infront, Dubai TV Racing, Mediapro.

Project Description

The company wishes to borrow 550 000 € over 36 months to finance the purchase of 4k Canon cameras and professional camera support equipment such as tripods systems and fluid heads. These purchases would consolidate the company’s competitive advantage and extend the range of services it could provide through 4K technology Obvan This project will be realised in the next few months.

As a reminder, the Lendix lending community supported NVP on June 2017 with 240 000 e to finance the purchase of 4K cameras. Current outstanding debt at 174 000 € without any payment incident.

This project is not covered by the Italian state guarantee.

Analyst’s Opinion

With a turnover of 3 839 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

Increase of turnover and profitability is driven by the application of 4K Obvan technology and by client base’s consolidation. Forecast has been based on 2017 performance.

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 2 and a net debt / shareholder equity of 170%.

The analysis of the project leads to a credit rating of B and a 6,1% annual interest rate.

Strong Points:

  • Good historical performance based on diversified client base;
  • Correct repayment ability with a forecasted FCCR of 1,1 reinforced by the support of banking pool;
  • Management with extensive experience in the business.

Points of vigilence:

  • Highly competitive market;
  • High technology requirements.

*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 (ModeFinance, Crif). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.

*The multiple of FCCR at 1,2 means that the company has a safety margin of 20 % 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.