Tuscanlogistics

Presentation of the company

Created in 1997, Tuscanlogistics S.r.l. is active in the logistic and transport sector. The company, managed by Davide Bardi, has 11 employees and is based in Montale (Italy).

The company’s main activities are:

• Logistics services mainly supporting import activities;
• Customs warehouse and fiscal storage services.

The company works with clients active in different sectors, mostly operating as trading companies.

With a good positioning among competitors, the company offers flexible and customized services to its consolidated clients.

Project Description

The company requests a loan of 110 000 € over 36 months to finance the purchase of new equipment necessary to carry out logistics services for a new contract defined in early 2019. This project will be realized this quarter.

This project is not covered by the Italian state guarantee.

The amount offered on the platform is limited to 53 900 €, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 2 007 387 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

Turnover quite stable between 2016 and 2017. Increase in turnover is expected in 2018 due to the increase in the number of orders. The forecast is based on the performance of 2018 interim financials and business plan provided by the company.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,32 and a strong financial structure, with a forecast net debt / ebitda ratio of 1,81 and a net debt / shareholder equity of 92%.

The analysis of the project leads to a credit rating of C and a 6,95% annual interest rate.

*The multiple of FCCR at 1,32 means that the company has a safety margin of 32% 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 1,32;
• Extensive experience of the management team in transportations and logistics.

Points of Caution:

• Long payment terms vs clients