Two Seasons Garlic Business Plan — Projected Cash Flow
Operating, investing and financing cash flows across five seasons, and the cash trough during the expansion years.
Projected Cash Flow
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- Overview & contents
- 1. Executive Summary
- 2. Investment Thesis
- 3. Company and Business Overview
- 4. Problem, Customer Need and Value Proposition
- 5. Products and Services
- 6. Industry Analysis
- 7. Market Analysis
- 8. Customer Analysis
- 9. Market and Competitive Landscape
- 10. Business Model
- 11. Go-to-Market Strategy
- 12. Operating Model
- 13. Management and Organisation
- 14. Strategic Plan
- 15. SWOT Analysis and Strategic Implications
- 16. Risk Analysis
- 17. ESG and Sustainability
- 18. Implementation Roadmap
- 19. Financial Model and Revenue Build
- 20. Projected Income Statement
- 21. Projected Balance Sheet
- 22. Projected Cash Flow
- 23. Capital Expenditure and Working Capital
- 24. Funding Requirement and Structure
- 25. Break-Even Analysis
- 26. Investment Case and Returns
- 27. Debt Serviceability
- 28. Sensitivity and Scenario Analysis
- 29. Key Performance Indicators and Management Dashboard
- 30. Conclusion
- A. Appendix A: Assumption Register
- B. Appendix B: Conditions Precedent to the Seed Subscription
- C. Appendix C: Glossary
Three equity tranches and one term facility carry the business through a cumulative R33m of capex and early losses; from FY2030 operations fund debt service and expansion.
|
R million |
FY2027 |
FY2028 |
FY2029 |
FY2030 |
FY2031 |
|---|---|---|---|---|---|
|
EBITDA |
(4.58) |
(1.35) |
3.06 |
9.82 |
18.01 |
|
Working-capital movement |
(0.14) |
(0.80) |
(1.58) |
(2.21) |
(2.25) |
|
Taxes paid |
0.00 |
0.00 |
0.00 |
0.00 |
(2.02) |
|
Operating cash flow |
(4.72) |
(2.16) |
1.49 |
7.61 |
13.74 |
|
Capital expenditure |
(6.05) |
(9.90) |
(12.60) |
(7.15) |
(5.00) |
|
Investing cash flow |
(6.05) |
(9.90) |
(12.60) |
(7.15) |
(5.00) |
|
Equity injections |
9.00 |
15.00 |
11.00 |
0.00 |
0.00 |
|
Debt drawdowns |
14.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Debt repayments |
0.00 |
0.00 |
(2.80) |
(2.80) |
(2.80) |
|
Interest paid |
(1.61) |
(1.61) |
(1.45) |
(1.13) |
(0.81) |
|
Dividends |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Financing cash flow |
21.39 |
13.39 |
6.75 |
(3.93) |
(3.60) |
|
Net cash movement |
10.62 |
1.33 |
(4.36) |
(3.47) |
5.13 |
|
Opening cash |
0.00 |
10.62 |
11.96 |
7.59 |
4.13 |
|
Closing cash |
10.62 |
11.96 |
7.59 |
4.13 |
9.26 |
Table 40. Projected cash-flow statement (R million). Closing cash reconciles to the balance sheet.
22.1 FY2027 monthly cash flow
|
R million |
Jul-26 |
Aug-26 |
Sep-26 |
Oct-26 |
Nov-26 |
Dec-26 |
Jan-27 |
Feb-27 |
Mar-27 |
Apr-27 |
May-27 |
Jun-27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Cash receipts |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.30 |
0.76 |
0.91 |
0.82 |
|
Field costs |
(0.03) |
(0.04) |
(0.06) |
(0.06) |
(0.06) |
(0.07) |
(0.12) |
(0.21) |
(0.24) |
(0.21) |
(0.21) |
(0.18) |
|
Planting stock |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
(0.18) |
(0.42) |
(0.36) |
(0.12) |
(0.12) |
0.00 |
|
Curing and packing |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
(0.05) |
(0.12) |
(0.14) |
(0.16) |
|
Overheads |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
(0.37) |
|
Interest |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
(0.13) |
|
Capex |
(1.20) |
(1.10) |
(0.70) |
(0.50) |
(0.40) |
(0.30) |
(0.35) |
(0.40) |
(0.40) |
(0.30) |
(0.20) |
(0.20) |
|
Working capital |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.11 |
|
Equity |
9.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Term facility |
14.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Net movement |
21.26 |
(1.65) |
(1.27) |
(1.07) |
(0.97) |
(0.88) |
(1.16) |
(1.53) |
(1.25) |
(0.49) |
(0.26) |
(0.12) |
|
Closing cash |
21.26 |
19.61 |
18.34 |
17.28 |
16.31 |
15.43 |
14.27 |
12.74 |
11.49 |
11.01 |
10.74 |
10.62 |
Table 41. FY2027 monthly cash flow (R million).
