SenS Glas B.V.

Presentation of the company

Sens Glas is the holding company set up in 2014 to acquire active in the window and glass sector. , managed by Martijn Rameker, has 22 employees and is based in Den Hoorn.

The company’s main activities are:

• The supply and assembly of glass and windows for renovationprojects Glass repairs and maintenance Trading of glass Glass solutions for the hotel industryThe company works with businesses, housing corporations and consumers.

Sens Glas B. V sees an increasing share of revenue coming from the renovation of buildings and houses. The glass the company supplies, isolates the building and in that way reduces the energy costs.

The company has all machines inhouse to deliver customized glass to the client on time. In addition, the company maintains several buildings and houses based on a subscription base.

Project Description

The company requests a loan of 42. 000 € over 24 months to finance the purchase of inventory for a large project. This project will be realised in the next few months.

The amount offered on the platform is limited to 20580€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 1 550 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The forecast is based on 2018 draft results, which show a strong increase in revenue, as a result of the merger of the company with Sterglas BV. In 2018 the preliminary results indicate a turnover of above 2 mln.

The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,54 and an excellent financial structure with a positive cash balance.

The analysis of the project leads to a credit rating of C and a 6,8% annual interest rate.

*The multiple of FCCR at 1,54 means that the company has a safety margin of 54% 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.

• Excellent repayment ability with a forecasted FCCR of 1,54 Shareholders have a longstanding track record in the industryPoints of caution: