Quantitative model Case Study Analysis
Oliver2189
AlQantaraTemplateOH1.2.xlsxAssumption 1
| Baseline | |||||||||||||||||||||||
| CASH FLOW ANALYSIS (without funding) | AL QANTARA CABLES | ||||||||||||||||||||||
| Assumptions and Initial Data | Units | 0000's | |||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | Capital cost: Land, building | 98,205 | ('000) | 98205 | |||||||
| Capital expenditure | -104405.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Pre-op expenses | 6,200 | ('000) | 6200 | |||||||
| Capacity schedule (%) | 0.00 | 0.60 | 0.75 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | Total | 104,405 | ('000) | 104405 | |||||||
| Capacity schedule (tons) | 0.00 | 3000.00 | 3750.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | Depreciaiton Period | 10 | years | ||||||||
| Capacity of plant | 5,000 | tons pa. | |||||||||||||||||||||
| Sales revenue ('000) | 0.00 | 66900.00 | 83625.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | Average price of cable | 22,300 | per ton | 22.3 | |||||||
| Cash income ('000) | 0.00 | 44905.48 | 78126.37 | 91109.25 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | Price of raw material | 12,000 | per ton | 12 | |||||||
| Other production costs | |||||||||||||||||||||||
| Raw material CGS ('000) | 0.00 | 36000.00 | 45000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | Labour | 1,739 | ('000) | 1739 | |||||||
| Raw material invoices | 8975.34 | 38243.84 | 46495.89 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 38284.93 | Power, etc | 290 | per ton | 0.29 | |||||||
| Raw material cash outflow ('000) | 5917.81 | 35838.21 | 45817.64 | 50629.80 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 39330.01 | Overheads | 3,000 | ('000) | 3000 | |||||||
| Labour | 0.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | Managerial costs | ||||||||||
| Power,etc | 0.00 | 870.00 | 1087.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | Technical fee | 2% | of sales | ||||||||
| Production overheads | 0.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | Selling costs | 4% | of sales | ||||||||
| Total cash generated (Production) | -110322.81 | 3458.27 | 26482.23 | 34507.95 | 37803.50 | 37803.50 | 37803.50 | 37803.50 | 37803.50 | 37803.50 | 37803.50 | 49473.49 | Overheads | 1,970 | ('000) | 1970 | |||||||
| Working capital requirements | |||||||||||||||||||||||
| Management costs | Collection Period | 120 | days | ||||||||||||||||||||
| Fees | 0.00 | 1338.00 | 1672.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | Payment Period | 30 | days | ||||||||
| Selling | 0.00 | 2676.00 | 3345.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | Raw Material Inventory | 91 | days | ||||||||
| Overheads | 0.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | |||||||||||
| Tax | 0.00 | 302.39 | 470.43 | 582.45 | 612.20 | 641.95 | 641.95 | 641.95 | 641.95 | 641.95 | 641.95 | 902.96 | |||||||||||
| Total cash after man. costs & tax | -110322.81 | -2828.11 | 19024.31 | 26269.00 | 29534.80 | 29505.05 | 29505.05 | 29505.05 | 29505.05 | 29505.05 | 29505.05 | 40914.03 | |||||||||||
| AFTER DEBT FUNDING | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| SIDF Loan | 53000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Outstanding loan (at beginning of year) | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| less up-front fee | 1060.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Commercial loan principal | 0.00 | 0.00 | 0.00 | 17000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Outstanding debt (at beginning of year) | 34000.00 | 34000.00 | 34000.00 | 34000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Interest @ | 7% | 2380.00 | 2380.00 | 2380.00 | 2380.00 | 1190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||
| Total cash after debt funding | 83560.00 | 84620.00 | 84620.00 | 84620.00 | 68810.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Accumulated Cash | -26762.81 | -31970.92 | -15326.62 | -8437.62 | 2907.18 | 21812.23 | 40717.28 | 59622.33 | 78527.38 | 97432.43 | 126937.48 | 167851.51 | |||||||||||
| AFTER EQUITY FUNDING | |||||||||||||||||||||||
| Equity Capital | 30000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Total cash after equity funding | 3237.19 | -31970.92 | -15326.62 | -8437.62 | 2907.18 | 21812.23 | 40717.28 | 59622.33 | 78527.38 | 97432.43 | 126937.48 | 167851.51 | |||||||||||
| Accumulated Cash | 3237.19 | 409.08 | 19433.38 | 45702.38 | 75237.18 | 104742.23 | 134247.28 | 163752.33 | 193257.38 | 222762.43 | 252267.48 | 293181.51 | |||||||||||
| Profit & Loss Account | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| Sales Revenue | 0.00 | 66900.00 | 83625.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | |||||||||||
| less CGS | 0.00 | 36000.00 | 45000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | |||||||||||
| less management | 0.00 | 5984.00 | 6987.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | |||||||||||
| less depreciation | 0.00 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 0.00 | |||||||||||
| EBIT | 0.00 | 14475.50 | 21197.00 | 25678.00 | 25678.00 | 25678.00 | 25678.00 | 25678.00 | 25678.00 | 25678.00 | 25678.00 | 36118.50 | |||||||||||
| less interest | 1586.67 | 2380.00 | 2380.00 | 2380.00 | 1190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| less fee | 1060.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Profit before Tax | -2646.67 | 12095.50 | 18817.00 | 23298.00 | 24488.00 | 25678.00 | 25678.00 | 25678.00 | 25678.00 | 25678.00 | 25678.00 | 36118.50 | |||||||||||
| Less tax @ | 2.5% | 0.00 | 302.39 | 470.43 | 582.45 | 612.20 | 641.95 | 641.95 | 641.95 | 641.95 | 641.95 | 641.95 | 902.96 | ||||||||||
| Profit after tax | -2646.67 | 11793.11 | 18346.58 | 22715.55 | 23875.80 | 25036.05 | 25036.05 | 25036.05 | 25036.05 | 25036.05 | 25036.05 | 35215.54 | |||||||||||
| BALANCE SHEET | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| Assets | |||||||||||||||||||||||
| Net fixed assets | 104405.00 | 93964.50 | 83524.00 | 73083.50 | 62643.00 | 52202.50 | 41762.00 | 31321.50 | 20881.00 | 10440.50 | 0.00 | 0.00 | |||||||||||
| Raw material inventory | 8975.34 | 11219.18 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 0.00 | |||||||||||
| Receivables | 0.00 | 21994.52 | 27493.15 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | |||||||||||
| Accumulated Cash (after tax) | 1710.69 | 2111.58 | 24582.38 | 37442.88 | 44159.18 | 69035.73 | 93912.28 | 118788.83 | 143665.38 | 179141.93 | 214618.48 | 261504.01 | |||||||||||
| Total Assets | 115091.03 | 129289.77 | 148314.60 | 154400.35 | 150676.15 | 165112.20 | 179548.25 | 193984.30 | 208420.35 | 233456.40 | 258492.45 | 292662.92 | |||||||||||
| Liabilities | |||||||||||||||||||||||
| Payables | 737.70 | 3143.33 | 3821.58 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 3146.71 | |||||||||||
| Commercial debt | 34000.00 | 34000.00 | 34000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| SIDF loan | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Equity Capital | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | |||||||||||
| Accumulated P&L | -2646.67 | 9146.45 | 27493.02 | 50208.57 | 74084.37 | 99120.42 | 124156.47 | 149192.52 | 174228.57 | 199264.62 | 224300.67 | 259516.21 | |||||||||||
| Total Liabilities | 115091.03 | 129289.77 | 148314.60 | 154400.35 | 150676.15 | 165112.20 | 179548.25 | 193984.30 | 208420.35 | 233456.40 | 258492.45 | 292662.92 | |||||||||||
Assumption 2
| Cable Price Appreciation | |||||||||||||||||||||||
| CASH FLOW ANALYSIS (without funding) | AL QANTARA CABLES | ||||||||||||||||||||||
| Assumptions and Initial Data | Units | 0000's | |||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | Capital cost: Land, building | 98,205 | ('000) | 98205 | |||||||
| Capital expenditure | -104405.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Pre-op expenses | 6,200 | ('000) | 6200 | |||||||
| Capacity schedule (%) | 0.00 | 0.60 | 0.75 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | Total | 104,405 | ('000) | 104405 | |||||||
| Capacity schedule (tons) | 0.00 | 3000.00 | 3750.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | Depreciaiton Period | 10 | years | ||||||||
| Capacity of plant | 5,000 | tons pa. | |||||||||||||||||||||
| Sales revenue ('000) | 0.00 | 66900.00 | 85297.50 | 98603.91 | 100575.99 | 102587.51 | 104639.26 | 106732.04 | 108866.68 | 111044.02 | 113264.90 | 115530.20 | Annual Appreciation of Cable Price (2% Annually) | 22,300 | per ton | ||||||||
| Cash income ('000) | 0.00 | 44905.48 | 79249.01 | 94229.20 | 99927.63 | 101926.19 | 103964.71 | 106044.00 | 108164.88 | 110328.18 | 112534.75 | 114785.44 | Year | Price | |||||||||
| 1992 | 22.3 | ||||||||||||||||||||||
| Raw material CGS ('000) | 0.00 | 36000.00 | 45000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 1993 | 22.30 | |||||||||
| Raw material invoices | 8975.34 | 38243.84 | 46495.89 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 38284.93 | 1994 | 22.75 | |||||||||
| Raw material cash outflow ('000) | 5917.81 | 35838.21 | 45817.64 | 50629.80 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 39330.01 | 1995 | 23.20 | |||||||||
| Labour | 0.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1996 | 23.66 | |||||||||
| Power,etc | 0.00 | 870.00 | 1087.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1997 | 24.14 | |||||||||
| Production overheads | 0.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 1998 | 24.62 | |||||||||
| Total cash generated (Production) | -110322.81 | 3458.27 | 27604.87 | 37627.90 | 42956.13 | 44954.69 | 46993.21 | 49072.50 | 51193.38 | 53356.68 | 55563.25 | 69483.94 | 1999 | 25.11 | |||||||||
| 2000 | 25.62 | ||||||||||||||||||||||
| Management costs | 2001 | 26.13 | |||||||||||||||||||||
| Fees | 0.00 | 1338.00 | 1705.95 | 1972.08 | 2011.52 | 2051.75 | 2092.79 | 2134.64 | 2177.33 | 2220.88 | 2265.30 | 2310.60 | 2002 | 26.65 | |||||||||
| Selling | 0.00 | 2676.00 | 3411.90 | 3944.16 | 4023.04 | 4103.50 | 4185.57 | 4269.28 | 4354.67 | 4441.76 | 4530.60 | 4621.21 | 2003 | 27.18 | |||||||||
| Overheads | 0.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | Price of raw material | 12,000 | per ton | 12 | |||||||
| Tax | 0.00 | 302.39 | 509.73 | 672.43 | 748.52 | 825.54 | 873.76 | 922.94 | 973.10 | 1024.27 | 1076.46 | 1129.70 | Other production costs | ||||||||||
| Total cash after man. costs & tax | -110322.81 | -2828.11 | 20007.29 | 29069.24 | 34203.05 | 36003.89 | 37871.09 | 39775.64 | 41718.28 | 43699.77 | 45720.89 | 59452.43 | Labour | 1,739 | ('000) | 1739 | |||||||
| Power, etc | 290 | per ton | 0.29 | ||||||||||||||||||||
| AFTER DEBT FUNDING | Overheads | 3,000 | ('000) | 3000 | |||||||||||||||||||
| Managerial costs | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | Technical fee | 2% | of sales | ||||||||
| SIDF Loan | 53000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Selling costs | 4% | of sales | ||||||||
| Outstanding loan (at beginning of year) | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | Overheads | 1,970 | ('000) | 1970 | |||||||
| less up-front fee | 1060.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Working capital requirements | ||||||||||
| Collection Period | 120 | days | |||||||||||||||||||||
| Commercial loan principal | 0.00 | 0.00 | 0.00 | 17000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Payment Period | 30 | days | ||||||||
| Outstanding debt (at beginning of year) | 34000.00 | 34000.00 | 34000.00 | 34000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Raw Material Inventory | 91 | days | ||||||||
| Interest @ | 7% | 2380.00 | 2380.00 | 2380.00 | 2380.00 | 1190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||
| Total cash after debt funding | 83560.00 | 84620.00 | 84620.00 | 84620.00 | 68810.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Accumulated Cash | -26762.81 | -31970.92 | -14343.63 | 12345.60 | 45358.65 | 81362.55 | 119233.64 | 159009.28 | 200727.56 | 244427.33 | 290148.22 | 349600.65 | |||||||||||
| AFTER EQUITY FUNDING | |||||||||||||||||||||||
| Equity Capital | 30000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Total cash after equity funding | 3237.19 | -31970.92 | -14343.63 | 12345.60 | 45358.65 | 81362.55 | 119233.64 | 159009.28 | 200727.56 | 244427.33 | 290148.22 | 349600.65 | |||||||||||
| Accumulated Cash | 3237.19 | 409.08 | 20416.37 | 49485.60 | 83688.65 | 119692.55 | 157563.64 | 197339.28 | 239057.56 | 282757.33 | 328478.22 | 387930.65 | |||||||||||
| Profit & Loss Account | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| Sales Revenue | 0.00 | 66900.00 | 85297.50 | 98603.91 | 100575.99 | 102587.51 | 104639.26 | 106732.04 | 108866.68 | 111044.02 | 113264.90 | 115530.20 | |||||||||||
| less CGS | 0.00 | 36000.00 | 45000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | |||||||||||
| less management | 0.00 | 5984.00 | 7087.85 | 7886.23 | 8004.56 | 8125.25 | 8248.36 | 8373.92 | 8502.00 | 8632.64 | 8765.89 | 8901.81 | |||||||||||
| less depreciation | 0.00 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | |||||||||||
| EBIT | 0.00 | 14475.50 | 22769.15 | 29277.18 | 31130.93 | 33021.76 | 34950.40 | 36917.62 | 38924.18 | 40970.88 | 43058.50 | 45187.88 | |||||||||||
| less interest | 2380.00 | 2380.00 | 2380.00 | 2380.00 | 1190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| less fee | 1060.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Profit before Tax | -3440.00 | 12095.50 | 20389.15 | 26897.18 | 29940.93 | 33021.76 | 34950.40 | 36917.62 | 38924.18 | 40970.88 | 43058.50 | 45187.88 | |||||||||||
| Less tax @ | 2.5% | 0.00 | 302.39 | 509.73 | 672.43 | 748.52 | 825.54 | 873.76 | 922.94 | 973.10 | 1024.27 | 1076.46 | 1129.70 | ||||||||||
| Profit after tax | -3440.00 | 11793.11 | 19879.42 | 26224.75 | 29192.41 | 32196.21 | 34076.64 | 35994.68 | 37951.08 | 39946.60 | 41982.04 | 44058.19 | |||||||||||
| BALANCE SHEET | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| Assets | |||||||||||||||||||||||
| Net fixed assets | 104405.00 | 93964.50 | 83524.00 | 73083.50 | 62643.00 | 52202.50 | 41762.00 | 31321.50 | 20881.00 | 10440.50 | 0.00 | 0.00 | |||||||||||
| Raw material inventory | 8975.34 | 11219.18 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 0.00 | |||||||||||
| Receivables | 0.00 | 21994.52 | 28043.01 | 32417.72 | 33066.08 | 33727.40 | 34401.95 | 35089.99 | 35791.79 | 36507.62 | 37237.77 | 37982.53 | |||||||||||
| Accumulated Cash (after tax) | 917.36 | 1318.24 | 24772.03 | 40432.77 | 51817.32 | 83192.71 | 116435.31 | 151582.45 | 188672.23 | 238343.50 | 290035.88 | 345019.31 | |||||||||||
| Total Assets | 114297.70 | 128496.44 | 149054.11 | 158649.06 | 160241.47 | 181837.68 | 205314.32 | 230709.00 | 258060.08 | 298006.69 | 339988.73 | 383001.84 | |||||||||||
| Liabilities | |||||||||||||||||||||||
| Payables | 737.70 | 3143.33 | 3821.58 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 3146.71 | |||||||||||
| Commercial debt | 34000.00 | 34000.00 | 34000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| SIDF loan | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Equity Capital | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | |||||||||||
| Accumulated P&L | -3440.00 | 8353.11 | 28232.53 | 54457.28 | 83649.69 | 115845.90 | 149922.54 | 185917.22 | 223868.30 | 263814.91 | 305796.95 | 349855.13 | |||||||||||
| Total Liabilities | 114297.70 | 128496.44 | 149054.11 | 158649.06 | 160241.47 | 181837.68 | 205314.32 | 230709.00 | 258060.08 | 298006.69 | 339988.73 | 383001.84 |
Assumption 3
| Price of Raw Material Appreciation | |||||||||||||||||||||||
| CASH FLOW ANALYSIS (without funding) | AL QANTARA CABLES | ||||||||||||||||||||||
| Assumptions and Initial Data | Units | 0000's | |||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | Capital cost: Land, building | 98,205 | ('000) | 98205 | |||||||
| Capital expenditure | -104405.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Pre-op expenses | 6,200 | ('000) | 6200 | |||||||
| Capacity schedule (%) | 0.00 | 0.60 | 0.75 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | Total | 104,405 | ('000) | 104405 | |||||||
| Capacity schedule (tons) | 0.00 | 3000.00 | 3750.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | Depreciaiton Period | 10 | years | ||||||||
| Capacity of plant | 5,000 | tons pa. | |||||||||||||||||||||
| Sales revenue ('000) | 0.00 | 66900.00 | 83625.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | Average price of cable | 22,300 | per ton | 22.3 | |||||||
| Cash income ('000) | 0.00 | 44905.48 | 78126.37 | 91109.25 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | Price of raw material (2% Appreciation) | 12,000 | per ton | ||||||||
| Year | Price | ||||||||||||||||||||||
| Raw material CGS ('000) | 0.00 | 36720.00 | 46818.00 | 54121.61 | 55204.04 | 56308.12 | 57434.28 | 58582.97 | 59754.63 | 60949.72 | 62168.72 | 63412.09 | 1992 | 12.00 | |||||||||
| Raw material invoices | 9154.85 | 39237.58 | 48638.90 | 54391.47 | 55479.30 | 56588.89 | 57720.67 | 58875.08 | 60052.58 | 61253.63 | 62478.71 | 47602.50 | 1993 | 12.24 | |||||||||
| Raw material cash outflow ('000) | 6036.16 | 36765.03 | 47866.19 | 53918.66 | 55389.89 | 56497.69 | 57627.65 | 58780.20 | 59955.80 | 61154.92 | 62378.02 | 48825.20 | 1994 | 12.48 | |||||||||
| Labour | 0.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1995 | 12.73 | |||||||||
| Power,etc | 0.00 | 870.00 | 1087.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1996 | 12.99 | |||||||||
| Production overheads | 0.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 3000.00 | 1997 | 13.25 | |||||||||
| Total cash generated (Production) | -110441.16 | 2531.45 | 24433.68 | 31219.09 | 33413.61 | 32305.81 | 31175.85 | 30023.30 | 28847.70 | 27648.58 | 26425.48 | 39978.30 | 1998 | 13.51 | |||||||||
| 1999 | 13.78 | ||||||||||||||||||||||
| Management costs | 2000 | 14.06 | |||||||||||||||||||||
| Fees | 0.00 | 1338.00 | 1672.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 2001 | 14.34 | |||||||||
| Selling | 0.00 | 2676.00 | 3345.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 2002 | 14.63 | |||||||||
| Overheads | 0.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 1970.00 | 2003 | 14.92 | |||||||||
| Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Other production costs | ||||||||||
| Total cash after man. costs & tax | -110441.16 | -3452.55 | 17446.18 | 23562.59 | 25757.11 | 24649.31 | 23519.35 | 22366.80 | 21191.20 | 19992.08 | 18768.98 | 32321.80 | Labour | 1,739 | ('000) | 1739 | |||||||
| Power, etc | 290 | per ton | 0.29 | ||||||||||||||||||||
| AFTER DEBT FUNDING | Overheads | 3,000 | ('000) | 3000 | |||||||||||||||||||
| Managerial costs | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | Technical fee | 2% | of sales | ||||||||
| SIDF Loan | 53000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Selling costs | 4% | of sales | ||||||||
| Outstanding loan (at beginning of year) | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | Overheads | 1,970 | ('000) | 1970 | |||||||
| less up-front fee | 1060.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Working capital requirements | ||||||||||
| Collection Period | 120 | days | |||||||||||||||||||||
| Commercial loan principal | 0.00 | 0.00 | 0.00 | 17000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Payment Period | 30 | days | ||||||||
| Outstanding debt (at beginning of year) | 34000.00 | 34000.00 | 34000.00 | 34000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Raw Material Inventory | 91 | days | ||||||||
| Interest @ | 7% | 2380.00 | 2380.00 | 2380.00 | 2380.00 | 1190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||
| Total cash after debt funding | 83560.00 | 84620.00 | 84620.00 | 84620.00 | 68810.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Accumulated Cash | -26881.16 | -32713.71 | -17647.53 | 3535.05 | 28102.16 | 52751.47 | 76270.82 | 98637.62 | 119828.82 | 139820.90 | 158589.89 | 190911.69 | |||||||||||
| AFTER EQUITY FUNDING | |||||||||||||||||||||||
| Equity Capital | 30000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Total cash after equity funding | 3118.84 | -32713.71 | -17647.53 | 3535.05 | 28102.16 | 52751.47 | 76270.82 | 98637.62 | 119828.82 | 139820.90 | 158589.89 | 190911.69 | |||||||||||
| Accumulated Cash | 3118.84 | -333.71 | 17112.47 | 40675.05 | 66432.16 | 91081.47 | 114600.82 | 136967.62 | 158158.82 | 178150.90 | 196919.89 | 229241.69 | |||||||||||
| Profit & Loss Account | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| Sales Revenue | 0.00 | 66900.00 | 83625.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | |||||||||||
| less CGS | 0.00 | 36720.00 | 46818.00 | 54121.61 | 55204.04 | 56308.12 | 57434.28 | 58582.97 | 59754.63 | 60949.72 | 62168.72 | 63412.09 | |||||||||||
| less management | 0.00 | 5984.00 | 6987.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | 7656.50 | |||||||||||
| less depreciation | 0.00 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 0.00 | |||||||||||
| EBIT | 0.00 | 13755.50 | 19379.00 | 22556.39 | 21473.96 | 20369.88 | 19243.72 | 18095.03 | 16923.37 | 15728.28 | 14509.28 | 23706.41 | |||||||||||
| less interest | 2380.00 | 2380.00 | 2380.00 | 2380.00 | 1190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| less fee | 1060.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Profit before Tax | -3440.00 | 11375.50 | 16999.00 | 20176.39 | 20283.96 | 20369.88 | 19243.72 | 18095.03 | 16923.37 | 15728.28 | 14509.28 | 23706.41 | |||||||||||
| Less tax @ | 2.5% | 0.00 | 284.39 | 424.98 | 504.41 | 507.10 | 509.25 | 481.09 | 452.38 | 423.08 | 393.21 | 362.73 | 592.66 | ||||||||||
| Profit after tax | -3440.00 | 11091.11 | 16574.03 | 19671.98 | 19776.86 | 19860.63 | 18762.62 | 17642.66 | 16500.29 | 15335.07 | 14146.55 | 23113.75 | |||||||||||
| BALANCE SHEET | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| Assets | |||||||||||||||||||||||
| Net fixed assets | 104405.00 | 93964.50 | 83524.00 | 73083.50 | 62643.00 | 52202.50 | 41762.00 | 31321.50 | 20881.00 | 10440.50 | 0.00 | 0.00 | |||||||||||
| Raw material inventory | 9154.85 | 12392.43 | 16031.33 | 19422.81 | 23902.11 | 29491.00 | 36211.67 | 44086.75 | 53139.33 | 63392.97 | 74871.68 | 71474.18 | |||||||||||
| Receivables | 0.00 | 21994.52 | 27493.15 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | |||||||||||
| Accumulated Cash (after tax) | 752.60 | -475.33 | 18174.37 | 24702.44 | 22929.91 | 37133.35 | 49108.83 | 58811.78 | 66196.77 | 81817.42 | 95026.46 | 120315.01 | |||||||||||
| Total Assets | 114312.45 | 127876.12 | 145222.86 | 148367.65 | 140633.92 | 149985.75 | 158241.40 | 165378.94 | 171376.01 | 186809.80 | 201057.04 | 222948.09 | |||||||||||
| Liabilities | |||||||||||||||||||||||
| Payables | 752.45 | 3225.01 | 3997.72 | 4470.53 | 4559.94 | 4651.14 | 4744.16 | 4839.05 | 4935.83 | 5034.55 | 5135.24 | 3912.53 | |||||||||||
| Commercial debt | 34000.00 | 34000.00 | 34000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| SIDF loan | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Equity Capital | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | |||||||||||
| Accumulated P&L | -3440.00 | 7651.11 | 24225.14 | 43897.12 | 63673.98 | 83534.61 | 102297.24 | 119939.89 | 136440.18 | 151775.25 | 165921.80 | 189035.55 | |||||||||||
| Total Liabilities | 114312.45 | 127876.12 | 145222.86 | 148367.65 | 140633.92 | 149985.75 | 158241.40 | 165378.94 | 171376.01 | 186809.80 | 201057.04 | 222948.09 | |||||||||||
Assumption 4
| Baseline | |||||||||||||||||||||||
| CASH FLOW ANALYSIS (without funding) | AL QANTARA CABLES | ||||||||||||||||||||||
| Assumptions and Initial Data | Units | 0000's | |||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | Capital cost: Land, building | 98,205 | ('000) | 98205 | |||||||
| Capital expenditure | -104405.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Pre-op expenses | 6,200 | ('000) | 6200 | |||||||
| Capacity schedule (%) | 0.00 | 0.60 | 0.75 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | Total | 104,405 | ('000) | 104405 | |||||||
| Capacity schedule (tons) | 0.00 | 3000.00 | 3750.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | 4250.00 | Depreciaiton Period | 10 | years | ||||||||
| Capacity of plant | 5,000 | tons pa. | |||||||||||||||||||||
| Sales revenue ('000) | 0.00 | 66900.00 | 83625.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | Average price of cable | 22,300 | per ton | 22.3 | |||||||
| Cash income ('000) | 0.00 | 44905.48 | 78126.37 | 91109.25 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | Price of raw material | 12,000 | per ton | 12 | |||||||
| Other production costs | |||||||||||||||||||||||
| Raw material CGS ('000) | 0.00 | 36000.00 | 45000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | Labour | 1,739 | ('000) | 1739 | |||||||
| Raw material invoices | 8975.34 | 38243.84 | 46495.89 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 38284.93 | Power, etc | 290 | per ton | 0.29 | |||||||
| Raw material cash outflow ('000) | 5917.81 | 35838.21 | 45817.64 | 50629.80 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 39330.01 | Overheads | 2,700 | ('000) | 2,700 | |||||||
| Labour | 0.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | 1739.00 | Managerial costs | ||||||||||
| Power,etc | 0.00 | 870.00 | 1087.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | 1232.50 | Technical fee | 2% | of sales | ||||||||
| Production overheads | 0.00 | 2700.00 | 2700.00 | 2700.00 | 2700.00 | 2700.00 | 2700.00 | 2700.00 | 2700.00 | 2700.00 | 2700.00 | 2700.00 | Selling costs | 4% | of sales | ||||||||
| Total cash generated (Production) | -110322.81 | 3758.27 | 26782.23 | 34807.95 | 38103.50 | 38103.50 | 38103.50 | 38103.50 | 38103.50 | 38103.50 | 38103.50 | 49773.49 | Overheads | 1,773 | ('000) | 1,773 | |||||||
| Working capital requirements | |||||||||||||||||||||||
| Management costs | Collection Period | 120 | days | ||||||||||||||||||||
| Fees | 0.00 | 1338.00 | 1672.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | 1895.50 | Payment Period | 30 | days | ||||||||
| Selling | 0.00 | 2676.00 | 3345.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | 3791.00 | Raw Material Inventory | 91 | days | ||||||||
| Overheads | 0.00 | 1773.00 | 1773.00 | 1773.00 | 1773.00 | 1773.00 | 1773.00 | 1773.00 | 1773.00 | 1773.00 | 1773.00 | 1773.00 | |||||||||||
| Tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Total cash after man. costs & tax | -110322.81 | -2028.73 | 19991.73 | 27348.45 | 30644.00 | 30644.00 | 30644.00 | 30644.00 | 30644.00 | 30644.00 | 30644.00 | 42313.99 | |||||||||||
| AFTER DEBT FUNDING | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| SIDF Loan | 53000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Outstanding loan (at beginning of year) | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| less up-front fee | 1060.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Commercial loan principal | 0.00 | 0.00 | 0.00 | 17000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Outstanding debt (at beginning of year) | 34000.00 | 34000.00 | 34000.00 | 34000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Interest @ | 7% | 2380.00 | 2380.00 | 2380.00 | 2380.00 | 1190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||
| Total cash after debt funding | 83560.00 | 84620.00 | 84620.00 | 84620.00 | 68810.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Accumulated Cash | -26762.81 | -31171.53 | -13559.80 | 11408.64 | 40862.64 | 71506.64 | 102150.64 | 132794.64 | 163438.64 | 194082.64 | 224726.64 | 267040.64 | |||||||||||
| AFTER EQUITY FUNDING | |||||||||||||||||||||||
| Equity Capital | 30000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Total cash after equity funding | 3237.19 | -31171.53 | -13559.80 | 11408.64 | 40862.64 | 71506.64 | 102150.64 | 132794.64 | 163438.64 | 194082.64 | 224726.64 | 267040.64 | |||||||||||
| Accumulated Cash | 3237.19 | 1208.47 | 21200.20 | 48548.64 | 79192.64 | 109836.64 | 140480.64 | 171124.64 | 201768.64 | 232412.64 | 263056.64 | 305370.64 | |||||||||||
| Profit & Loss Account | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| Sales Revenue | 0.00 | 66900.00 | 83625.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | 94775.00 | |||||||||||
| less CGS | 0.00 | 36000.00 | 45000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | 51000.00 | |||||||||||
| less management | 0.00 | 5787.00 | 6790.50 | 7459.50 | 7459.50 | 7459.50 | 7459.50 | 7459.50 | 7459.50 | 7459.50 | 7459.50 | 7459.50 | |||||||||||
| less depreciation | 0.00 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 10440.50 | 0.00 | |||||||||||
| EBIT | 0.00 | 14672.50 | 21394.00 | 25875.00 | 25875.00 | 25875.00 | 25875.00 | 25875.00 | 25875.00 | 25875.00 | 25875.00 | 36315.50 | |||||||||||
| less interest | 2380.00 | 2380.00 | 2380.00 | 2380.00 | 1190.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| less fee | 1060.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Profit before Tax | -3440.00 | 12292.50 | 19014.00 | 23495.00 | 24685.00 | 25875.00 | 25875.00 | 25875.00 | 25875.00 | 25875.00 | 25875.00 | 36315.50 | |||||||||||
| Less tax @ | 2.5% | 0.00 | 307.31 | 475.35 | 587.38 | 617.13 | 646.88 | 646.88 | 646.88 | 646.88 | 646.88 | 646.88 | 907.89 | ||||||||||
| Profit after tax | -3440.00 | 11985.19 | 18538.65 | 22907.63 | 24067.88 | 25228.13 | 25228.13 | 25228.13 | 25228.13 | 25228.13 | 25228.13 | 35407.61 | |||||||||||
| BALANCE SHEET | |||||||||||||||||||||||
| Year (end of) | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||
| Assets | |||||||||||||||||||||||
| Net fixed assets | 104405.00 | 93964.50 | 83524.00 | 73083.50 | 62643.00 | 52202.50 | 41762.00 | 31321.50 | 20881.00 | 10440.50 | 0.00 | 0.00 | |||||||||||
| Raw material inventory | 8975.34 | 11219.18 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 12715.07 | 0.00 | |||||||||||
| Receivables | 0.00 | 21994.52 | 27493.15 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | 31158.90 | |||||||||||
| Accumulated Cash (after tax) | 917.36 | 1510.32 | 24173.20 | 37225.77 | 44134.15 | 69202.77 | 94271.40 | 119340.02 | 144408.65 | 180077.27 | 215745.90 | 262823.50 | |||||||||||
| Total Assets | 114297.70 | 128688.52 | 147905.42 | 154183.24 | 150651.12 | 165279.24 | 179907.37 | 194535.49 | 209163.62 | 234391.74 | 259619.87 | 293982.41 | |||||||||||
| Liabilities | |||||||||||||||||||||||
| Payables | 737.70 | 3143.33 | 3821.58 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 4191.78 | 3146.71 | |||||||||||
| Commercial debt | 34000.00 | 34000.00 | 34000.00 | 17000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| SIDF loan | 53000.00 | 53000.00 | 53000.00 | 53000.00 | 42400.00 | 31800.00 | 21200.00 | 10600.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||
| Equity Capital | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | 30000.00 | |||||||||||
| Accumulated P&L | -3440.00 | 8545.19 | 27083.84 | 49991.46 | 74059.34 | 99287.46 | 124515.59 | 149743.71 | 174971.84 | 200199.96 | 225428.09 | 260835.70 | |||||||||||
| Total Liabilities | 114297.70 | 128688.52 | 147905.42 | 154183.24 | 150651.12 | 165279.24 | 179907.37 | 194535.49 | 209163.62 | 234391.74 | 259619.87 | 293982.41 |
