Trading density per m²

32 958

41 527

46 095

49 552

52 773

Against the national benchmark

76%

92%

98%

102%

104%

Transactions per trading day

11.5

13.9

14.9

15.4

15.7

Revenue

1 812 670

2 283 965

2 535 201

2 725 341

2 902 488

Cost of sales

(933 525)

(1 141 983)

(1 237 178)

(1 313 614)

(1 387 389)

Gross profit

879 145

1 141 982

1 298 023

1 411 727

1 515 099

Gross margin

48.5%

50.0%

51.2%

51.8%

52.2%

Occupancy costs

(213 180)

(228 103)

(246 813)

(265 040)

(282 571)

Payroll and commission

(399 650)

(453 571)

(596 676)

(653 611)

(711 345)

Other operating costs

(273 951)

(275 274)

(290 157)

(304 493)

(319 111)

EBITDA

(7 636)

185 034

164 377

188 582

202 071

EBITDA before owner remuneration

160 364

389 034

418 291

479 462

529 977

Depreciation

(85 400)

(85 400)

(85 400)

(85 205)

(90 226)

Finance costs

(58 378)

(49 509)

(37 801)

(24 411)

(9 097)

Profit / (loss) after tax

(237 414)

50 125

41 176

78 966

102 748

Net margin

-13.1%

2.2%

1.6%

2.9%

3.5%

Cash generated from operations

(139 797)

136 770

153 401

190 776

208 142

Term loan capital repaid

(36 822)

(81 490)

(93 198)

(106 588)

(121 902)

Closing cash

92 351

147 631

183 809

242 891

302 896

Property, plant and equipment

331 600

246 200

184 825

124 726

60 735

Inventory

359 048

380 661

374 902

364 893

365 102

Total assets

835 961

830 037

800 458

790 473

787 667

Term loan outstanding

403 178

321 688

228 490

121 902

—

Total equity

362 586

412 711

453 887

532 853

635 601

Stock turn

2.6x

3.0x

3.3x

3.6x

3.8x

Creditor days

24

30

35

38

40

Occupancy cost ratio

11.8%

10.0%

9.7%

9.7%

9.7%

Debt service cover

-0.08x

1.41x

1.25x

1.44x

1.54x

Break-even including debt service

2 038 297

2 206 405

2 503 996

2 646 671

2 798 827

Margin of safety

-12.4%

3.4%

1.2%

2.9%

3.6%