Highveld Detailing Business Plan — Key Performance Indicators and Management Dashboard

The throughput, revenue per vehicle, repeat-rate and labour indicators reported weekly, with targets.

Section 33 of 38

Key Performance Indicators and Management Dashboard

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Every operating metric improves across the plan except revenue per vehicle, which falls by 41%. Understanding why that decline is intended rather than alarming is the test of whether a reader has understood the strategy.

Figure 1. Executive KPI dashboard, FY2028–FY2032

Table 64. Key performance indicators

	FY2028	FY2029	FY2030	FY2031	FY2032
Revenue growth	n/a	207%	103%	45%	27%
Vehicles processed	8 871	39 594	83 849	131 614	172 876
Revenue per vehicle	R872	R599	R574	R530	R515
Gross margin	58.3%	54.4%	52.8%	49.7%	46.9%
EBITDA margin	-57.0%	-5.4%	5.3%	10.0%	11.4%
Net margin	-77.1%	-15.8%	-4.3%	1.9%	4.5%
Direct labour as a percentage of revenue	26.1%	30.0%	31.5%	34.5%	37.2%
Revenue per employee	R235k	R270k	R346k	R381k	R400k
Retail share of revenue	61.3%	43.2%	38.4%	30.5%	25.4%
Debtor days	41.9	42.4	38.6	39.2	40.4
Cash conversion cycle, days	99.2	77.4	67.1	64.0	64.6
Return on invested capital	-48.6%	-15.4%	-4.7%	8.8%	18.9%
Return on equity	-66.0%	-26.2%	-16.8%	10.0%	22.8%

Return on invested capital only exceeds the 16.4% cost of capital in FY2032, reaching 18.9%. For four of the five plan years the business earns less on its capital than that capital costs — which is the arithmetic behind the negative present value of the explicit forecast period noted in Section 30.

Management dashboard

Table 65. Executive dashboard: the metrics the board should govern by

Metric	Target	Frequency	Owner	Why it matters
Protection bay utilisation	78%	Weekly	Studio Manager	Determines studio profitability almost entirely; the highest-contribution capacity in the group
Contribution per labour hour by line	Above R300 blended	Monthly	Finance Manager	The only measure that correctly ranks work; prevents chasing low-value volume
Unit-level EBITDA margin	26.1%	Monthly	Area Manager	A consolidated profit can conceal several loss-making sites
Embedded unit utilisation	86%	Weekly	Operations Director	A 10% shortfall removes 73.2% of FY2032 EBITDA
Dealer contract pipeline	One qualified conversation per week	Weekly	Commercial Manager	The binding constraint on the scale-up phase
Contract renewal rate	Above 85%	Per renewal	Managing Director	Contract tenure is the closest thing to a moat this business has
Dealer revenue concentration	No group above 30%	Quarterly	Managing Director	The largest single structural risk in the register
Damage claims per vehicles processed	Below 0.5%	Monthly	Quality Controller	Liability transfer is a core part of the proposition; failure destroys it
Academy throughput and attrition	Net positive to plan	Monthly	HR & Training Manager	Labour supply is the constraint on growth, not demand
Debtor days	52 days on dealer accounts	Monthly	Finance Manager	Working capital is the principal cash drag through the growth years
Debt service cover	Above 1.15x from FY2031	Quarterly	Finance Manager	FY2030 cover of 1.03x leaves no cushion
Liquidity: cash plus undrawn facility	Above R1.5m	Weekly	Finance Manager	The binding constraint in FY2031
Revenue mix: CPO share of dealer work	Rising year on year	Quarterly	Commercial Manager	The most accessible margin improvement available to management