Capital expenditure register (R m)
|
Category |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
Total |
|---|---|---|---|---|---|---|
|
Restaurant fit-out |
5.5 |
4.5 |
6.0 |
5.0 |
5.0 |
26.0 |
|
Kitchen & catering equipment |
4.2 |
2.5 |
3.0 |
2.5 |
2.5 |
14.7 |
|
Furniture & décor |
1.8 |
1.2 |
1.5 |
1.2 |
1.2 |
6.9 |
|
Delivery vehicles |
1.0 |
0.6 |
0.8 |
0.8 |
1.0 |
4.2 |
|
Technology systems |
0.8 |
0.4 |
0.5 |
0.5 |
0.6 |
2.8 |
|
Total |
13.3 |
9.2 |
11.8 |
10.0 |
10.3 |
54.6 |
Assumptions register
|
Parameter |
Value / treatment |
|---|---|
|
Repo / prime rate |
7.0% / 10.5% (SARB, mid-2026) |
|
Corporate tax |
27%, assessed losses carried forward (no SBC relief, turnover >R20m) |
|
Working capital |
5% of revenue |
|
Funding |
R18m equity (all-equity base case); ~R6.7m debt capacity as option |
|
Depreciation |
Fit-out 6-yr; kitchen & catering equipment 8-yr; furniture 6-yr; vehicles 5-yr; technology 4-yr (straight-line) |
|
Revenue mix |
Restaurants, takeaway & delivery, catering & events, retail products, franchise & cloud kitchens |
|
Exit multiple |
6×–10× EV/EBITDA (base 8×) |