Cattle Baron Master Business Plan — Appendix A: Consolidated Financial Summary
Consolidated five-year summary: breeding cows, weaners sold, revenue, herd growth, EBITDA, cash EBITDA and owner's funds.
Appendix A: Consolidated Financial Summary
Jump to section
- Overview & contents
- i. Important Notice
- 1. Executive Summary
- 2. A Note on the Name
- 3. The Market and the FMD Crisis
- 4. Foot-and-Mouth Disease as a Business Risk
- 5. The Production System
- 6. Herd Performance
- 7. SWOT and Competitive Position
- 8. Grazing, Land and Water
- 9. Unit Economics
- 10. Route to Market
- 11. The Five-Year Build and Its Gates
- 12. Funding
- 13. People, Security and Stock Theft
- 14. Compliance and Traceability
- 15. Financial Projections
- 16. Break-Even
- 17. Sensitivity and Scenarios
- 18. Risk Management
- 19. Implementation Timeline
- 20. Returns
- 21. Key Performance Indicators
- 22. Key Assumptions
- 23. Conclusion
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Capital Schedules
- C. Appendix C: Funding and Debt Schedules
- D. Appendix D: Risk Register
- E. Appendix E: Glossary
|
R’000 unless stated |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Breeding cows at year end |
120 |
170 |
250 |
350 |
450 |
|
Average breeding cows |
120 |
145 |
210 |
300 |
400 |
|
Weaning percentage |
64.0% |
68.7% |
73.2% |
76.5% |
79.8% |
|
Calves weaned |
77 |
100 |
154 |
230 |
319 |
|
Weaners sold |
29 |
28 |
58 |
112 |
231 |
|
Weaner price, R per kg |
44.00 |
46.42 |
48.97 |
51.67 |
54.51 |
|
Weaner sales |
277 |
287 |
649 |
1 361 |
3 050 |
|
Cull cow sales |
215 |
294 |
449 |
722 |
1 016 |
|
Cash revenue |
492 |
581 |
1 098 |
2 083 |
4 065 |
|
Herd growth, non-cash |
— |
975 |
1 614 |
2 179 |
2 405 |
|
Direct costs |
(484) |
(625) |
(973) |
(1 494) |
(2 153) |
|
Gross margin |
8 |
931 |
1 740 |
2 770 |
4 317 |
|
Fixed costs |
(612) |
(778) |
(1 072) |
(1 410) |
(1 800) |
|
EBITDA |
(604) |
153 |
668 |
1 360 |
2 517 |
|
Cash EBITDA |
(604) |
(822) |
(946) |
(819) |
112 |
|
Depreciation |
(191) |
(230) |
(299) |
(388) |
(496) |
|
Interest |
(96) |
(282) |
(466) |
(702) |
(1 000) |
|
Taxation |
— |
— |
— |
— |
— |
|
Profit / (loss) after tax |
(891) |
(359) |
(97) |
270 |
1 015 |
|
Operating cash flow |
(750) |
(874) |
(1 081) |
(1 032) |
(202) |
|
Fixed capital expenditure |
(3 940) |
(764) |
(1 382) |
(1 748) |
(2 149) |
|
Closing cash |
884 |
764 |
1 657 |
1 140 |
604 |
|
Breeding herd value |
1 980 |
3 059 |
4 835 |
7 242 |
9 891 |
|
Infrastructure, net |
1 769 |
2 199 |
3 120 |
4 252 |
5 661 |
|
Total assets |
4 818 |
6 270 |
10 023 |
13 299 |
17 182 |
|
Loans outstanding |
1 670 |
3 470 |
5 692 |
8 656 |
11 471 |
|
Owner’s funds |
3 109 |
2 750 |
4 253 |
4 523 |
5 538 |
|
Gearing |
34.9% |
55.8% |
57.2% |
65.7% |
67.4% |
|
Break-even herd, cows |
n/m |
n/m |
1 801 |
718 |
377 |