VerdeVale Global Produce Business Plan — Projected Cash Flow

The cash flow statement reconciles net profit to the movement in cash, capturing the heavy investing outflows of orchard establishment and facility construction and the financing inflows that fund them. Operating cash flow turns firmly positive from Year 2 as the orchards bear and the processing streams scale; the cash balance remains positive throughout, supported by the equity-first drawdown and the grace period on debt principal.

	Year 1	Year 2	Year 3	Year 4	Year 5
Operating cash flow	-30	45	160	368	653
Investing (capex)	-786	-765	-542	-253	-135
Financing	1,730	450	88	-288	-500
Net change in cash	914	-270	-293	-172	18
Closing cash	914	644	352	179	197

Figure 24. *Cumulative five-year cash flow waterfall (ZAR millions)*

Figure 25. *Pre-dividend free cash flow to equity*

NoteWhy the cash balance holds through establishment

The plan draws equity first and phases debt to match capital deployment, holds a grace period on principal through Years 1–2, and defers dividends until the orchards are bearing and the business has deleveraged. Together these keep the cash balance positive across the entire establishment ramp, the difference between a financeable structure and a funding gap in a business whose principal asset takes years to reach full production.