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Olympus Club

presented by October Italy

€200,000

6.3%

48 months

B

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location

Location

Firenze,Italy

activity

Activity

Events

Company Presentation

Created in 2007, Olympus Club is active in the sport management sector. The company, managed by Massimo Caponnetto, has 45 employees and is based in Florence.

The company’s main activities are:

  • management of a sport centre which covers an area of 8,000 square meters including a private parking, an indoor pool, 3 training rooms, a wellness and a beauty centre;
  • management of a small bar.

The company works with abot 4,400 private customers.

In the last two years, the company has been investing in the renovation of some existing structures (changing rooms, soccer field) and in the development of a new multi-functional soccer/tennis field and 2 new paddle fields. This expansion led to an increase in the number of customers of about 1,000 between 2014 and 2018.

Key Numbers

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

Project Presentation

The company wishes to borrow 200 000 € over 48 months to finance the renovation costs of the areas where to set and develop a sport medical centre, a new heating system and a street to access to the centre. This project will be realised in the next few months.

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

Analyst Opinion

Over the last years, the company has been investing in the renovation of some existing structures (changing rooms, soccer field) and in the development of a new multi-functional soccer/tennis field and 2 new paddle fields. This expansion led to a considerable increase in the number of customers.

With a turnover of 2 528 511 € in 2016 and an experienced team, the company has a good track record combined with a two-digits operating margin.

In 2015, decrease of profitability is related to some renovation works self financed.

The forecast is based on 2017 performance and on the business plan.

In 2017, company is expecting around € 2 500 000 € turnover with a double digit profitability.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,09 and a good financial structure, with a forecast net debt / ebitda ratio of 1 and a net debt / shareholder equity of 1,12.

The analysis of the project leads to a credit rating of B and a 6,30% annual interest rate.

Strong points:

  • Good historical performance based on diversified client base;
  • Good repayment ability with a forecasted FCCR of 1,09;
  • Large sport centre offering a wide range of activities and experienced team of trainers.

Point of vigilence:

  • Competitive market.

*The multiple of FCCR at 1,09 means that the company has a safety margin of 9% 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.

*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.