Revenue by division (R m)
|
Division |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Food-ingredients manufacturing |
7.6 |
16.0 |
27.3 |
42.9 |
61.9 |
|
Food-service products |
2.4 |
5.0 |
8.4 |
12.8 |
18.2 |
|
Technical consulting |
2.0 |
4.0 |
6.3 |
8.3 |
10.9 |
|
Total revenue |
12 |
25 |
42 |
64 |
91 |
Operating & customer KPIs
|
Metric |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Commercial customers |
120 |
220 |
320 |
450 |
600 |
|
Products in range |
45 |
70 |
120 |
150 |
180 |
|
Revenue per customer (R’000) |
100 |
114 |
131 |
142 |
152 |
|
Gross margin |
42.0% |
44.0% |
46.0% |
47.0% |
48.0% |
|
Total headcount |
27 |
44 |
66 |
93 |
121 |
Cash flow & balance sheet summary (R m)
|
Metric |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Operating cash flow |
0.03 |
1.84 |
4.39 |
7.62 |
12.26 |
|
Free cash flow (pre-equity) |
(10.27) |
0.14 |
(4.11) |
4.02 |
6.66 |
|
Closing cash |
7.7 |
7.9 |
18.8 |
22.8 |
29.4 |
|
Net PP&E & equipment |
8.8 |
8.9 |
14.5 |
14.6 |
16.3 |
|
Total equity |
18.2 |
20.2 |
39.1 |
46.4 |
58.4 |
Profit reconciliation: sponsor vs re-derived (R m)
|
Line |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
EBITDA (preserved) |
1.8 |
4.4 |
8.2 |
13.4 |
20.5 |
|
Less depreciation |
(1.46) |
(1.66) |
(2.92) |
(3.41) |
(4.00) |
|
Less tax |
(0.09) |
(0.74) |
(1.43) |
(2.70) |
(4.46) |
|
Net profit (re-derived) |
0.25 |
2.00 |
3.85 |
7.30 |
12.05 |
|
Net profit (sponsor illustrative) |
0.8 |
2.3 |
5.0 |
8.8 |
14.2 |