Tarlton Beetroot Business Plan — Projected Cash Flow

Operating, investing and financing cash flows, and the depth and timing of the funding trough.

Section 25 of 37

Projected Cash Flow

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Cumulative free cash flow across five years is negative R29.5 million; the business consumes cash for four of the five years.

Table 38 Projected cash flow statement, R thousand, base case

R’000

Year 1
FY2028

Year 2
FY2029

Year 3
FY2030

Year 4
FY2031

Year 5
FY2032

EBITDA

(1 466)

(1 623)

(2 179)

2 807

5 792

Working capital movement

99

(23)

(532)

(260)

(508)

Taxation paid

0

0

0

0

0

Cash flow from operations

(1 367)

(1 646)

(2 710)

2 547

5 284

Capital expenditure

(2 389)

0

(27 870)

(1 380)

0

Free cash flow

(3 756)

(1 646)

(30 580)

1 167

5 284

Equity subscribed

3 950

0

20 500

0

0

Debt drawn

650

0

10 440

0

0

Debt repaid

(99)

(113)

(404)

(999)

(1 178)

Interest paid

(77)

(64)

(816)

(1 236)

(1 098)

Net movement in cash and overdraft

667

(1 823)

(861)

(1 068)

3 008

Net debt at year end

(116)

1 649

12 659

13 213

9 533

Taxation paid is nil throughout because the assessed loss balance, subject to the 80 per cent utilisation cap, exceeds taxable income in every year of the horizon.

Monthly net cash position across 60 months, showing the funding trough
Figure 1. Monthly net cash position across 60 months, showing the funding trough.
Cash bridge from inception to Year 5 close
Figure 2. Cash bridge from inception to Year 5 close.

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