Golden Delta Rice Business Plan — Appendix A: Consolidated Financial Summary
Consolidated five-year summary: hectares, tonnes paddy and rice, revenue, 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. The Business
- 3. Why the Mill Is the Business
- 4. Market Analysis
- 5. SWOT and Competitive Position
- 6. Production and Operations
- 7. The Outgrower Scheme
- 8. Organisation and Compliance
- 9. Financial Plan
- 10. Break-Even and Debt Service
- 11. Investment Analysis
- 12. The Finance Rate Decides This Project
- 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 Cost Schedules
- C. Appendix C: Funding and Debt Schedules
- D. Appendix D: Risk Register
- E. Appendix E: Glossary
|
₦ unless stated |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Hectares cropped |
60 |
85 |
100 |
100 |
100 |
|
Paddy yield, t/ha per crop |
4.30 |
4.70 |
5.00 |
5.15 |
5.25 |
|
Own farm paddy, t |
516 |
799 |
1 000 |
1 030 |
1 050 |
|
Outgrower paddy, t |
217 |
434 |
620 |
744 |
868 |
|
Paddy processed, t |
733 |
1 233 |
1 620 |
1 774 |
1 918 |
|
Mill utilisation |
28% |
47% |
62% |
68% |
74% |
|
Milled rice sold, t |
454 |
764 |
1 004 |
1 100 |
1 189 |
|
Ex-mill price per kg |
920 |
1 026 |
1 144 |
1 275 |
1 422 |
|
Revenue |
432 176 800 |
810 579 132 |
1 187 468 845 |
1 449 892 130 |
1 747 855 588 |
|
Farm production costs |
(148 320 000) |
(238 486 200) |
(318 449 220) |
(361 439 865) |
(410 234 246) |
|
Paddy purchased |
(76 123 600) |
(169 755 628) |
(270 396 465) |
(361 790 470) |
(470 629 103) |
|
Milling costs |
(40 754 800) |
(77 809 698) |
(116 033 002) |
(144 216 845) |
(176 972 930) |
|
Fixed cash costs |
(176 000 000) |
(198 880 000) |
(224 734 400) |
(253 949 872) |
(286 963 355) |
|
EBITDA |
(9 021 600) |
125 647 606 |
257 855 758 |
328 495 078 |
403 055 953 |
|
EBITDA margin |
-2.1% |
15.5% |
21.7% |
22.7% |
23.1% |
|
Depreciation |
(58 916 667) |
(58 916 667) |
(58 916 667) |
(58 916 667) |
(58 916 667) |
|
Finance costs |
(64 228 770) |
(64 228 770) |
(64 228 770) |
(55 691 496) |
(46 385 867) |
|
Taxation |
— |
— |
— |
(24 515 963) |
(89 326 026) |
|
Profit / (loss) after tax |
(132 167 037) |
2 502 169 |
134 710 321 |
189 370 952 |
208 427 393 |
|
Cumulative profit / (deficit) |
(132 167 037) |
(129 664 868) |
5 045 453 |
194 416 405 |
402 843 798 |
|
Cash generated from operations |
(120 463 140) |
11 724 760 |
143 958 335 |
212 451 751 |
225 972 636 |
|
Debt capital repaid |
— |
— |
(94 858 602) |
(103 395 876) |
(112 701 505) |
|
Closing cash |
187 189 860 |
198 914 620 |
248 014 353 |
357 070 228 |
470 341 359 |
|
Property, plant and equipment |
623 083 333 |
564 166 666 |
505 249 999 |
446 333 332 |
387 416 665 |
|
Trade receivables |
35 521 381 |
66 622 942 |
97 600 179 |
119 169 216 |
143 659 363 |
|
Total assets |
928 490 267 |
939 628 389 |
987 767 383 |
1 079 518 319 |
1 181 835 558 |
|
Term debt outstanding |
713 653 000 |
713 653 000 |
618 794 398 |
515 398 522 |
402 697 017 |
|
Total equity |
193 832 963 |
196 335 132 |
331 045 453 |
520 416 405 |
728 843 798 |
|
Debt service cover |
-0.14x |
1.96x |
1.62x |
2.06x |
2.53x |
|
Break-even output incl. debt service, t |
653 |
619 |
799 |
780 |
769 |