Savannah & Sakura Hospitality Group — Appendices

Supporting appendices - the detailed revenue build by division, the capital-expenditure schedule, the margin and cost ratios, the monthly Year-1 cash-flow detail and the glossary and notes underpinning the SSHG business plan and financial model.

Savannah & Sakura Hospitality Group Business PlanSection 17 › Appendices

Section 17 · Business Plan

Appendices

Supporting appendices – the detailed revenue build by division, the capital-expenditure schedule, the margin and cost ratios, the monthly Year-1 cash-flow detail and the glossary and notes underpinning the SSHG business plan and financial model.

Appendix A — Detailed Revenue Build by Division (R’m)

  Year 1 Year 2 Year 3 Year 4 Year 5
Signature Fine Dining 70 140 255 415 620
Heritage Table 38 90 140 185 220
Savannah Retreat 22 55 95 140 180
Consumer Products 12 30 52 70 85
Culinary Tourism Experiences 8 20 40 55 65
Savannah House 6 10 18 25 30
Hospitality Advisory 5 6 12 22 30
Culinary Academy 4 4 8 18 25
Total revenue 165 355 620 930 1,255

Table 24. Revenue build by division, Year 1 to
Year 5 (R’m).

Appendix B — Capital Expenditure Schedule (R’m)

  Year 1 Year 2 Year 3 Year 4 Year 5
Cape Town Flagship 60 0 0 0 0
Johannesburg Flagship 0 55 0 0 0
Stellenbosch Flagship 0 0 45 0 0
Casual Dining Rollout 25 25 15 0 0
Culinary Retreat Estate 40 50 20 0 0
Culinary Academy 0 10 10 0 0
Central Production Kitchen 10 8 0 0 0
Technology Infrastructure 7 5 3 0 0
Brand Development 8 6 4 0 0
Total capex 150 159 97 0 0

Table 25. Capital expenditure deployment by
category, Year 1 to Year 5 (R’m).

Appendix C — Margin & Cost Ratios (% of revenue)

  Year 1 Year 2 Year 3 Year 4 Year 5
Gross margin 65.5 67.0 68.2 69.0 69.5
Food & beverage cost 34.5 33.0 31.8 31.0 30.5
EBITDA margin 15.2 20.3 23.4 25.3 25.7
Net margin 1.1 4.4 10.0 13.9 15.6

Table 26. Key margin and cost ratios as a
percentage of revenue.

Appendix D — Monthly Year-1 Cash-Flow Detail (R’m)

Month Revenue EBITDA Closing cash
Jan 7.4 0.1 66.8
Feb 8.2 0.3 53.8
Mar 9.9 0.4 40.9
Apr 11.6 0.6 28.2
May 13.2 0.9 15.8
Jun 14.0 1.1 3.6
Jul 14.8 1.4 (8.3)
Aug 15.7 1.6 (20.0)
Sep 16.5 1.9 (31.4)
Oct 17.8 2.3 (42.4)
Nov 18.1 2.5 (53.2)
Dec 17.7 2.7 (63.8)

Table 27. Monthly Year-1 revenue, EBITDA and
closing-cash detail (R’m).

Appendix E — Glossary & Notes

EBITDA — earnings before interest, tax, depreciation and
amortisation. DSCR — debt-service cover ratio, being operating cash flow
available for debt service divided by scheduled principal and interest.
IRR — internal rate of return. CAGR — compound annual growth rate. HNWI
— high-net-worth individual. DFI — development-finance institution.
B-BBEE — Broad-Based Black Economic Empowerment. All financial figures
are in South African Rand and, unless stated otherwise, in millions
(R’m). Projections are management estimates dependent on execution and
prevailing market conditions.

Important notice

This business plan contains forward-looking statements and management
projections that are subject to significant business, economic and
competitive uncertainties. Actual results may differ materially. This
document is for information only and does not constitute an offer of
securities or investment advice. Prospective investors and lenders
should conduct their own due diligence and obtain independent
professional advice before committing capital.

Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Savannah & Sakura Hospitality Group (Pty) Ltd.