Quick and Efficient Gas Business Plan — Appendix A: Consolidated Financial Summary

Consolidated five-year summary: fills, tonnes, margin per kilogram, revenue, EBITDA, profit after tax and debt service cover.

Appendix A: Consolidated Financial Summary

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R unless stated

Year 1

Year 2

Year 3

Year 4

Year 5

Cylinder fills a trading day

27.3

37.6

44.2

47.0

49.4

Tonnes of LPG sold

143.0

197.2

231.7

246.5

258.9

Maximum retail price, R/kg

42.00

43.89

45.87

47.93

50.09

Effective gas cost, R/kg

31.36

32.83

34.38

35.99

37.68

Gas margin, R/kg

10.64

11.05

11.48

11.93

12.40

LPG revenue

6 005 334

8 655 965

10 628 443

11 815 662

12 964 736

Accessories and services

2 054 000

2 618 645

3 095 367

3 469 054

3 821 116

Total revenue

8 059 334

11 274 609

13 723 809

15 284 716

16 785 851

Gross profit — LPG

1 520 699

2 179 533

2 660 974

2 941 259

3 208 660

Gross profit — accessories

684 750

872 988

1 031 914

1 156 492

1 273 860

Total gross profit

2 205 449

3 052 521

3 692 889

4 097 751

4 482 520

Gross margin

27.4%

27.1%

26.9%

26.8%

26.7%

Operating costs

(2 405 104)

(2 530 169)

(2 661 738)

(2 800 148)

(2 945 756)

EBITDA

(199 655)

522 352

1 031 151

1 297 602

1 536 764

EBITDA margin

-2.5%

4.6%

7.5%

8.5%

9.2%

Depreciation

(268 067)

(268 067)

(268 067)

(268 067)

(268 067)

Finance costs

(266 888)

(245 630)

(202 130)

(152 650)

(96 366)

Profit / (loss) before tax

(904 610)

8 655

560 954

876 885

1 172 331

Taxation

(55 993)

(225 727)

Profit / (loss) after tax

(904 610)

8 655

560 954

820 892

946 604

Cumulative profit / (deficit)

(904 610)

(895 955)

(335 001)

485 891

1 432 495

Cash generated from operations

(414 624)

250 054

810 890

1 080 605

1 207 443

Debt capital repaid

(154 603)

(375 163)

(418 663)

(468 143)

(524 428)

Closing cash

610 773

485 664

877 891

1 490 353

2 173 368

Total assets

3 456 962

3 233 902

3 487 833

3 915 057

4 409 840

Term loan outstanding

1 786 397

1 411 234

992 571

524 428

0

Total equity

1 195 390

1 204 045

1 764 999

2 585 891

3 532 495

Debt service cover

-0.47x

0.84x

1.66x

2.09x

2.48x

Gearing

59.9%

54.0%

36.0%

16.9%

0.0%