Capital expenditure register — Series A (R m)
|
Component |
Amount |
Treatment / life |
|---|---|---|
|
Property leasehold improvements |
1.8 |
Depreciated 5 years |
|
Car wash equipment |
2.6 |
Depreciated 8 years |
|
Detailing equipment |
0.7 |
Depreciated 6 years |
|
Water recycling system |
0.9 |
Depreciated 10 years (Section 12B eligible) |
|
Customer lounge & office fit-out |
0.5 |
Depreciated 6 years |
|
IT systems & POS |
0.3 |
Depreciated 4 years |
|
Branding & marketing |
0.5 |
Expensed |
|
Working capital |
1.2 |
Funds early operating cycles |
|
Total (Series A) |
8.5 |
Assumptions register
|
Parameter |
Value / treatment |
|---|---|
|
Repo / prime rate |
7.0% / 10.5% (SARB, mid-2026) |
|
Corporate tax |
27%, assessed losses carried forward |
|
Asset-finance rate |
13.0% (prime + 250bps), Series B equipment |
|
Funding |
Series A R8.5m equity (Y1) + Series B R12m (Y3); R16.5m equity + R4m asset finance |
|
Depreciation |
Component; wash equip 8-yr, detailing 6-yr, recycling 10-yr, leasehold 5-yr, fit-out 6-yr, IT 4-yr |
|
Working capital |
6% of revenue (cash/card retail; fleet receivables) |
|
Capacity |
1 → 5 company sites; 120 → 560 cars/day; members to ~4,800 |
|
Revenue mix |
Express 35% / detailing 30% / fleet 20% / membership 10% / retail 5% |
|
Exit multiple |
5×–9× EV/EBITDA (consumer-services / franchise) |