Capital expenditure register (R m)
|
Category |
Amount |
Depreciation life |
|---|---|---|
|
Building acquisition & renovation |
24.0 |
25 years |
|
Kitchen equipment |
8.5 |
8 years |
|
Restaurant fit-out & interior |
11.0 |
10 years |
|
Performance stage & AV systems |
4.5 |
7 years |
|
Furniture, fixtures & décor |
6.0 |
8 years |
|
Technology & POS systems |
2.0 |
4 years |
|
Initial inventory |
2.5 |
n/a (working capital) |
|
Marketing & brand launch |
4.0 |
n/a (expensed) |
|
Working capital |
10.0 |
n/a |
|
Contingency |
3.0 |
n/a |
|
Total |
75.5 |
Assumptions register
|
Parameter |
Value / treatment |
|---|---|
|
Repo / prime rate |
7.0% / 10.5% (SARB, mid-2026) |
|
Corporate tax |
27%, assessed losses carried forward |
|
Funding |
R75.5m equity (all-equity base case) |
|
Debt capacity (option) |
~R28m secured facility at ~13.5% |
|
Working capital |
4% of revenue |
|
Cumulative capex |
~R165m over 5 years (flagship + CT + Durban) |
|
Average guest spend |
~R1,150 rising to ~R1,430 |
|
Flagship seats |
220 |
|
Exit multiple |
6×–10× EV/EBITDA |