Fish Master Premier Business Plan — Appendix A: Consolidated Financial Summary
Consolidated five-year summary: tonnes, fingerlings, revenue by stream, EBITDA, profit after tax and closing cash.
Appendix A: Consolidated Financial Summary
Jump to section
- Overview & contents
- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. Market and Positioning
- 3. Why the Hatchery Is the Business
- 4. Regulatory Position
- 5. The Production System
- 6. SWOT and Competitive Position
- 7. Route to Market
- 8. Management and Governance
- 9. Financial Plan
- 10. Break-Even and Debt Service
- 11. Investment Analysis
- 12. Sensitivity and Scenario Analysis
- 13. Risk Analysis
- 14. Implementation Roadmap
- 15. Key Performance Indicators
- 16. Key Assumptions
- 17. Conclusion and Recommendation
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Capital and Production Schedules
- C. Appendix C: Funding, Debt and Grant Schedules
- D. Appendix D: Risk Register
- E. Appendix E: Glossary
|
R unless stated |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Harvest, tonnes |
25 |
70 |
110 |
138 |
150 |
|
Fingerlings sold |
— |
600 000 |
1 400 000 |
2 100 000 |
2 600 000 |
|
Feed conversion ratio |
1.85 |
1.70 |
1.60 |
1.55 |
1.52 |
|
Mortality |
28% |
22% |
18% |
15% |
13% |
|
Fish sales |
2 350 000 |
6 731 000 |
10 651 000 |
13 523 000 |
14 713 000 |
|
Fingerling sales |
— |
1 560 000 |
3 640 000 |
5 460 000 |
6 760 000 |
|
Total revenue |
2 350 000 |
8 291 000 |
14 291 000 |
18 983 000 |
21 473 000 |
|
Feed |
(1 179 000) |
(3 034 000) |
(4 488 000) |
(5 454 000) |
(5 814 000) |
|
Energy |
(425 000) |
(945 000) |
(1 265 000) |
(1 449 000) |
(1 500 000) |
|
Labour |
(1 620 000) |
(2 050 000) |
(2 420 000) |
(2 680 000) |
(2 850 000) |
|
Overhead |
(1 320 000) |
(1 520 000) |
(1 720 000) |
(1 880 000) |
(2 000 000) |
|
Other direct costs |
(924 000) |
(2 047 000) |
(3 294 000) |
(4 299 000) |
(4 918 000) |
|
EBITDA |
(3 118 000) |
(1 305 000) |
1 104 000 |
3 221 000 |
4 391 000 |
|
EBITDA margin |
-132.7% |
-15.7% |
7.7% |
17.0% |
20.4% |
|
Depreciation and amortisation |
(1 051 200) |
(1 436 667) |
(1 436 667) |
(1 436 667) |
(1 436 667) |
|
Grant released to income |
— |
333 333 |
333 333 |
333 333 |
333 333 |
|
Interest |
(945 000) |
(945 000) |
(945 000) |
(945 000) |
(800 612) |
|
Taxation |
— |
— |
— |
(46 620) |
(134 301) |
|
Profit / (loss) after tax |
(5 114 200) |
(3 353 334) |
(944 334) |
1 126 046 |
2 352 753 |
|
Cumulative profit / (deficit) |
(5 114 200) |
(8 467 534) |
(9 411 868) |
(8 285 822) |
(5 933 069) |
|
Grow-out contribution |
(2 595 000) |
(1 652 000) |
(462 000) |
579 600 |
975 000 |
|
Hatchery contribution |
— |
990 000 |
2 310 000 |
3 465 000 |
4 290 000 |
|
Hatchery share of contribution |
n/m |
n/m |
125.0% |
85.7% |
81.5% |
|
Cash generated from operations |
(5 208 295) |
(3 561 036) |
(1 001 244) |
1 388 634 |
3 055 441 |
|
Capital expenditure |
(12 528 000) |
(4 872 000) |
— |
— |
— |
|
Closing cash |
6 463 705 |
2 030 669 |
1 029 425 |
1 348 521 |
3 190 036 |
|
Total assets |
20 135 225 |
20 787 845 |
19 805 329 |
19 740 148 |
20 654 135 |
|
Term debt outstanding |
7 000 000 |
7 000 000 |
7 000 000 |
5 930 462 |
4 716 536 |
|
Total equity |
12 685 800 |
9 332 466 |
8 388 132 |
9 514 178 |
11 866 931 |
|
Debt service cover |
n/a |
n/a |
1.17x |
1.60x |
2.18x |
|
Cost per kilogram of fish, R |
197.8 |
119.8 |
101.0 |
93.8 |
91.6 |
|
Realised per kilogram of fish, R |
94.0 |
96.2 |
96.8 |
98.0 |
98.1 |