Revenue by stream (R m)
|
Stream |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Company-owned restaurants |
88 |
175 |
300 |
430 |
583 |
|
Franchise operations |
0 |
22 |
75 |
160 |
233 |
|
Corporate catering & events |
9 |
25 |
47 |
72 |
106 |
|
Retail products |
5 |
15 |
28 |
43 |
85 |
|
Online ordering & delivery |
3 |
8 |
15 |
20 |
53 |
|
Total revenue |
105 |
245 |
465 |
725 |
1060 |
Restaurant & operating KPIs
|
Metric |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Company-owned restaurants |
3 |
5 |
7 |
10 |
12 |
|
Franchised restaurants |
0 |
3 |
8 |
15 |
28 |
|
Total restaurants |
3 |
8 |
15 |
25 |
40 |
|
Revenue per company restaurant (R m) |
29.3 |
35.0 |
42.9 |
43.0 |
48.6 |
|
Average spend per cover (ZAR) |
380 |
395 |
410 |
425 |
440 |
|
Total headcount |
201 |
321 |
472 |
675 |
855 |
Cash flow & balance sheet summary (R m)
|
Metric |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Operating cash flow |
8.1 |
26.6 |
55.6 |
100.8 |
162.4 |
|
Capital expenditure |
(84.0) |
(26.0) |
(31.5) |
(28.5) |
(22.0) |
|
Free cash flow (pre-equity) |
(75.9) |
0.6 |
24.1 |
72.3 |
140.4 |
|
Closing cash |
144 |
145 |
169 |
241 |
381 |
|
Net PP&E & intangibles |
74.1 |
86.9 |
101.5 |
109.7 |
110.2 |
|
Total equity |
224 |
246 |
298 |
394 |
555 |
Profit reconciliation: sponsor vs re-derived (R m)
|
Line |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
EBITDA (preserved) |
16 |
43 |
88 |
152 |
242 |
|
Less depreciation & amortisation |
(9.9) |
(13.2) |
(16.9) |
(20.3) |
(21.4) |
|
Less tax |
(1.6) |
(8.0) |
(19.2) |
(35.6) |
(59.5) |
|
Net profit (re-derived) |
4.5 |
21.8 |
51.9 |
96.1 |
161.0 |
|
Net profit (sponsor illustrative) |
6 |
22 |
51 |
96 |
160 |