Thaba Goats Business Plan — Appendix A: Consolidated Financial Summary
Consolidated five-year summary: breeding does, goats sold, cash revenue, herd growth, EBITDA, cash EBITDA and net asset value.
Appendix A: Consolidated Financial Summary
Jump to section
- Overview & contents
- i. Important Notice
- 1. Executive Summary
- 2. The South African Goat Market
- 3. Why the Informal Market Matters More Than the Abattoir
- 4. Seasonality
- 5. SWOT and Competitive Position
- 6. The Five-Stage Roadmap and Gates
- 7. The Funding Ladder
- 8. Herd and Reproduction
- 9. Kid Mortality: The Industry's Named Constraint
- 10. Grazing, Land and Water
- 11. Animal Health
- 12. Route to Market
- 13. People and Operations
- 14. Regulation and Compliance
- 15. Unit Economics
- 16. Capital Expenditure
- 17. Financial Projections
- 18. Break-Even and Sensitivity
- 19. Risk Management
- 20. Implementation Timeline
- 21. Returns and Net Asset Value
- 22. Key Performance Indicators
- 23. Key Assumptions
- 24. Conclusion
- A. Appendix A: Consolidated Financial Summary
- B. Appendix B: Stage Capital Schedules
- C. Appendix C: Debt Schedules
- D. Appendix D: Risk Register
- E. Appendix E: Funding Application Checklist
- F. Appendix F: Glossary
|
R’000 unless stated |
Year 1 |
Year 2 |
Year 3 |
Year 4 |
Year 5 |
|---|---|---|---|---|---|
|
Breeding does at year end |
50 |
80 |
130 |
200 |
300 |
|
Average breeding does |
50 |
65 |
105 |
165 |
250 |
|
Kids weaned per doe |
1.38 |
1.54 |
1.68 |
1.82 |
1.94 |
|
Kid survival to weaning |
82% |
85% |
87% |
89% |
91% |
|
Goats sold |
39 |
50 |
106 |
200 |
426 |
|
Blended price per goat, R |
2 398 |
2 603 |
2 843 |
3 069 |
3 292 |
|
Cash revenue |
108 |
151 |
336 |
670 |
1 490 |
|
Herd growth (non-cash) |
— |
74 |
133 |
202 |
305 |
|
Total revenue |
108 |
225 |
469 |
872 |
1 795 |
|
Direct costs |
(52) |
(75) |
(137) |
(240) |
(412) |
|
Gross margin |
56 |
150 |
332 |
631 |
1 383 |
|
Fixed costs |
(204) |
(261) |
(393) |
(544) |
(714) |
|
EBITDA |
(148) |
(111) |
(61) |
87 |
669 |
|
Cash EBITDA |
(148) |
(185) |
(194) |
(115) |
364 |
|
Depreciation |
(7) |
(18) |
(34) |
(59) |
(84) |
|
Interest |
(8) |
(51) |
(100) |
(121) |
(173) |
|
Taxation |
— |
— |
— |
— |
— |
|
Profit / (loss) after tax |
(163) |
(180) |
(195) |
(93) |
412 |
|
Operating cash flow |
(212) |
(263) |
(353) |
(334) |
22 |
|
Fixed capital expenditure |
(369) |
(181) |
(516) |
(499) |
(585) |
|
Closing cash |
69 |
255 |
278 |
417 |
598 |
|
Breeding herd value |
103 |
184 |
333 |
561 |
902 |
|
Total assets |
491 |
943 |
1 645 |
2 532 |
3 702 |
|
Loans outstanding |
150 |
780 |
1 112 |
1 524 |
2 268 |
|
Owner’s funds |
337 |
157 |
522 |
989 |
1 401 |
|
Debt service |
8 |
51 |
168 |
138 |
290 |
|
Debt service cover on cash EBITDA |
n/a |
n/a |
n/a |
n/a |
1.26x |
|
Break-even herd, does |
182 |
113 |
124 |
142 |
129 |