presented by October France
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Warning Lending money to SMEs presents a risk of capital loss and requires your savings to be immobilised.
Founded in 2000, Webhelp is a global leader in customer experience and business process outsourcing (BPO), specializing in the interactions between companies and their customers. Webhelp is a major player in customer relations, payment management, sales and marketing services.
Around 50,000 employees at more than 140 sites in 35 countries are working to continuously improve consumer relations across all communication channels using innovative technologies. More than 500 customers from all sectors of activity (Telecom, Financial Services, Energy, Retail, Travel, Automotive…) have trusted Webhelp for years all over the world.
Webhelp has increased its turnover by more than 250% over the last 4 years, investing in its employees, the working environment and its analytical and operational skills.
The group is still led by its founders, Olivier Duha and Frédéric Jousset.
And since March 2016, the financial investor KKR has held a significant stake in the capital.
The group wishes to borrow €100,000 over 24 months as part of the Grow Together operation. For the Webhelp group, this is a communication project that will be carried out as part of the operation.
Through the Growing Together operation, 11 major groups will lead the way in diversifying sources of financing for SMEs by borrowing on a lending platform.
Large groups are used to borrowing outside the banking system and diversifying their sources of funding. They have simple and easy access to credit.
In October 2014, a new regulation opening a breach in the banking monopoly allowed SMEs to borrow directly from individuals and institutions, in addition to their banks. Small and medium-sized companies can now do as big as large ones.
AccorHotels, The Adecco Group, Allianz France, Arkéa, Edenred, ENGIE, Iliad, JC Decaux, SUEZ, Unibail-Rodamco-Westfield and Webhelp are joining the transaction and showing their VSE/SME ecosystem that they can now finance themselves differently, thanks to the loan platforms.
These 11 major sponsors, each borrowing €100,000 from October, give their VSE/SME partners the right to borrow up to €1,000,000 each, without any administrative costs.
This project, which is part of the Grow Together operation, is only available to individual investors on the platform. Unlike all the other projects presented on the platform, institutional investors and October’s management cannot lend on the projects of this campaign.
The borrower is a holding company whose revenues are derived from services invoiced to its subsidiaries. The financial analysis was carried out on consolidated financial statements, which reflect the Group’s performance.
With a turnover of €910 million in 2017 and an experienced team, the company has a good track record combined with a double-digit operating margin.
In 2018, the group acquired Sellbytel’s and several other medium-sized companies for a total of approximately €500 million.
All external growth operations were financed by 7-year In-fine debt and a shareholder loan.
In recent years, the increase in turnover has been driven by growth in the business combined with various company acquisitions.
The forecast is based on the 2018 budget.
The borrower has an excellent repayment capacity with a projected Fixed Charge Cover Ratio (FCCR) of 2.73 and an excellent financial structure with a positive cash balance by integrating into shareholders’ equity, the shareholder loan and acquisition debts whose maturities are after the October debt.
The analysis of the project leads to a credit rating of A+ and an annual interest rate of 2.5%.
*The multiple of FCCR at 2.73 means that the company has a safety margin of 173% in relation to its ability to repay its credit maturities.
The expert opinion is given for information purposes on the basis of the information provided by the project leader and information from our databases (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.
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