ReclaimHub — Projected Profit & Loss
The projected profit and loss and the revenue, margin and profitability trajectory underpinning ReclaimHub.
Section 18 · Business Plan
Projected Profit & Loss
The projected profit and loss and the revenue, margin and profitability trajectory underpinning ReclaimHub.
The independent income statement carries the sponsor revenue and
EBITDA and adds the re-derived depreciation, interest and tax. It shows
the business net loss-making for two years before turning strongly
profitable, with cumulative five-year net profit of R1.57bn.
| Line item (R m) | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Revenue | 220 | 680 | 1,600 | 3,200 | 5,700 |
| Cost of goods sold | (102) | (299) | (691) | (1,347) | (2,350) |
| Credit impairment | (3) | (15) | (37) | (84) | (162) |
| Store & corporate operating costs | (155) | (272) | (452) | (719) | (1,087) |
| EBITDA | (40) | 95 | 420 | 1,050 | 2,100 |
| Depreciation & amortisation | (36) | (69) | (102) | (140) | (200) |
| Net interest | (75) | (140) | (165) | (221) | (332) |
| Profit before tax | (151) | (114) | 153 | 689 | 1,568 |
| Taxation | -0 | -0 | (8) | (148) | (423) |
| Net profit after tax | (151) | (114) | 145 | 541 | 1,145 |
Two features stand out. First, the gap between EBITDA and net profit
is wide and persistent: depreciation rises to R200m and interest to
R332m by Year 5, of which warehouse interest alone reaches R277m — a
cost entirely invisible in an EBITDA-only presentation. Second, the
assessed-loss carry-forward from the Year 1–2 losses shelters most of
the Year-3 tax charge, a genuine cash benefit that the model captures
explicitly.
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of ReclaimHub Retail Group (Pty) Ltd.