Tarlton Beetroot Business Plan — Projected Cash Flow
Operating, investing and financing cash flows, and the depth and timing of the funding trough.
Section 25 of 37
Projected Cash Flow
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- i. Important Notice and Basis of Preparation
- 1. Executive Summary
- 2. Investment Thesis
- 3. Company, Structure and Stage of Development
- 4. Customer Problem, Value Proposition and Monetisation
- 5. Products, Portfolio and Unit Economics
- 6. Industry Analysis
- 7. Market Analysis and Sizing
- 8. Customer and Channel Analysis
- 9. Competitive Landscape
- 10. Business Model
- 11. Go-to-Market Strategy
- 12. Operating Model: Agronomy and Production
- 13. Operating Model: Post-Harvest, Packhouse and Logistics
- 14. Water, Energy and Land: The Three Binding Constraints
- 15. Management and Organisation
- 16. Strategic Plan
- 17. SWOT Analysis
- 18. Risk Analysis and Register
- 19. ESG and Development Impact
- 20. Implementation Roadmap
- 21. Financial Assumptions
- 22. Projected Income Statement
- 23. Projected Balance Sheet
- 24. Projected Cash Flow
- 25. Capital Expenditure and Working Capital
- 26. Funding Requirement and Structure
- 27. Break-even Analysis
- 28. Debt Serviceability
- 29. Investment Returns and Valuation
- 30. Sensitivity and Scenario Analysis
- 31. Phase 3: Processing Optionality
- 32. Key Performance Indicators and Management Dashboard
- 33. Conclusion and Investment Recommendation
- A. Appendix A: Monthly Projections, Year 1
- B. Appendix B: Detailed Assumptions Register
- C. Appendix C: Glossary
Cumulative free cash flow across five years is negative R29.5 million; the business consumes cash for four of the five years.
Table 38 Projected cash flow statement, R thousand, base case
|
R’000 |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
EBITDA |
(1 466) |
(1 623) |
(2 179) |
2 807 |
5 792 |
|
Working capital movement |
99 |
(23) |
(532) |
(260) |
(508) |
|
Taxation paid |
0 |
0 |
0 |
0 |
0 |
|
Cash flow from operations |
(1 367) |
(1 646) |
(2 710) |
2 547 |
5 284 |
|
Capital expenditure |
(2 389) |
0 |
(27 870) |
(1 380) |
0 |
|
Free cash flow |
(3 756) |
(1 646) |
(30 580) |
1 167 |
5 284 |
|
Equity subscribed |
3 950 |
0 |
20 500 |
0 |
0 |
|
Debt drawn |
650 |
0 |
10 440 |
0 |
0 |
|
Debt repaid |
(99) |
(113) |
(404) |
(999) |
(1 178) |
|
Interest paid |
(77) |
(64) |
(816) |
(1 236) |
(1 098) |
|
Net movement in cash and overdraft |
667 |
(1 823) |
(861) |
(1 068) |
3 008 |
|
Net debt at year end |
(116) |
1 649 |
12 659 |
13 213 |
9 533 |
Taxation paid is nil throughout because the assessed loss balance, subject to the 80 per cent utilisation cap, exceeds taxable income in every year of the horizon.
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