Rebeccas Coffee 2013 Prepared for Rebeccas Coffee 19 August 2014

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1 Prepared for Rebeccas Coffee 19 August 214 Page 1/17

2 Setup Reporting Period Year End Period Length (months) Profit & Loss Revenue 2,94, 3,4, 5,, 5,8, Gross Margin ($) 663, 865, 1,3, 1,65, EBIT 324, 36, 467, 625, Net Profit (After Tax) 98, 195,4 28, 35, Other Information Depreciation & Amortisation 5, 74, 1, 1, Interest Paid 4, 5, 1, 15, Other Income/Expenses Distributions/Dividends 45,4 18, 1, Balance Sheet Assets Total Assets 2,, 2,7, 3,6, 4,45, Cash 75, 5, Trade Debtors 4, 57, 9, 1,2, Stock 4, 6, 92, 1,25, Total Current Assets 1,, 1,5, 2,1, 2,5, Fixed Assets 8, 1,, 1,4, 1,8, Liabilities Total Liabilities 1,45, 2,, 2,8, 3,4, Trade Creditors 22, 3, 45, 5, Total Current Liabilities 45, 8, 1,6, 2,15, Funding Bank Loans - Current 4, 1,, 1,45, Bank Loans - Non Current 1,, 1,, 1,2, 1,2, Page 2/17

3 Summary Story Your Profit Story Revenue $5,8, - COGS Gross Margin = - Overheads = $4,15, $1,65, $1,25, EBIT $625, Current Period Change Revenue $5,8, +16.% Gross Margin % % EBIT % % Net Profit % % Your Balance Sheet Story Net Debt $2,65, Equity Working Capital + = + $1,5, $1,95, Other Capital $1,75, Funding Net Operating Assets Current Period Change Debtors Days days Stock Days days Creditors Days days Working Capital Days days Page 3/17

4 Your Cash Flow Story 2,65, 1,987,5 1,325, 4, 1,, 1,45, Bank loans current Bank loans non current 662,5 1,, 1,, 1,2, 1,2, Total Debt Total Debt Total Debt Total Debt Current Period Change Marginal Cash Flow % Operating Cash Flow 145, % Net Cash Flow -45, % Page 4/17

5 Chapter 1 - Profitability Revenue 5,8, EBIT 625, up by 8, up by 158, Gross Margin 1,65, Net Profit 35, up by 35, up by 7, Profitability Change Revenue 5,, 5,8, 16.% Revenue Growth % % Gross Margin % % Overheads % % EBIT % % EBITDA 567, 725, 27.87% Net Profit % % Profitability Trends last period - this period Gross Margin % EBIT % Net Profit % Revenue Growth vs COGS Growth Revenue Growth % COGS Growth % Page 5/17

6 Revenue Growth vs Overheads Growth Revenue Growth % Overheads Growth % Page 6/17

7 Chapter 2 - Working Capital Debtors 1,2, Creditors 5, up by 3, up by 5, Stock 1,25, Working Capital 1,95, up by 33, up by 58, Working Capital Change Debtors Days % Stock Days % Creditors Days % Working Capital Days % Working Capital % 27.4% 33.62% 22.7% Marginal Cash Flow % Current Ratio % Working Capital Days last period - this period Creditors days Stock days Debtors days Page 7/17

8 Working Capital Timeline at This Period Day Day 44 Day 11 Day Stock arrives Creditors paid Stock sold Cash banked Working Capital Days Last Period Day Day 44 Day 91 Day Stock arrives Creditors paid Stock sold Cash banked Working Capital Days Gross Margin vs Working Capital Gross Margin % Working Capital % Your Gap Gap Page 8/17

9 Chapter 3 - Other Capital Fixed Assets 1,8, Other Liabilities 25, up by 4, up by 1, Other Assets 2, Other Capital 1,75, down by 18, up by 12, Other Capital Change Other Capital % 32.6% 3.17% -7.45% Net Operating Assets % 6.% 63.79% 6.32% Asset Turnover % Return on Capital % 15.57% 16.89% 8.51% Return on Total Assets % 12.97% 14.4% 8.27% Return on Equity % 35.% 33.33% -4.76% Return on Capital % Chapter 1 Profit EBIT EBIT Working Capital $1,95, $625, + Other Capital $1,75, $625, = = Net Operating Assets $3,7, Return on Capital 16.89% EBIT % Working Capital % Other Capital +7.36% Chapter 2 Chapter 3 Assets Page 9/17

10 Your Growth Strategy EBIT Efficient Expanding Last Period EBIT up 17, NOA up 95, NOA This Period EBIT up 158, NOA up 7, Contracting Inefficient Page 1/17

11 Chapter 4 - Funding Net Debt 2,65, Equity 1,5, up by 45, up by 25, Funding Change Marginal Cash Flow % Operating Cash Flow 67, 145, % Net Cash Flow -85, -45, 47.6% Net Debt 2,2, 2,65, 2.45% Debt to Equity % Interest Cover % Balance Sheet Equation at Equity Other Capital Equity Other Capital $8, $1,63, $1,5, $1,75, 3,, 3,7, Net Debt $2,2, Working Capital $1,37, Net Debt $2,65, Working Capital $1,95, Page 11/17

12 Profit vs Cash Flow Profit Cash Flow Change Revenue 5,8, Cash from Customers 5,5, -3, COGS/DC 4,15, Cash to Suppliers 4,43, -28, Gross Margin 1,65, Gross Cash Profit 1,7, -58, Overheads excl Depreciation 925, Overheads excl Depreciation 925, - EBITDA 725, Operating Cash Flow 145, -58, Other Cash Outflow Interest Paid -15, Tax Paid -125, Other Income Dividends Paid -1, Fixed Assets Acquired -5, Other Net Assets Decreased +28, Capital Introduced Net Cash Flow -45, EBITDA vs Operating Cash Flow 8, 6, 4, EBITDA Operating Cash Flow 2, Page 12/17

13 Power of One Your Power of One Net Cash Flow $ EBIT $ Your Current Position -45, 625, Your Power of One Impact on Cash Flow $ Impact on EBIT $ Price Increase % 2 % 92, 116, Revenue Growth % % COGS Reduction % % Overheads Reduction % 3 % 3,75 3,75 Reduction in Debtors Days 7 days 111,233 Reduction in Stock Days days Increase in Creditors Days days Total Impact 233, ,75 Your Power of One Net Cash Flow $ EBIT $ Your Adjusted Position -216,17 771,75 Your Power of One Impact 1,35,15 9,1 45,5 Current $ Your Power of One -45,5 Cash Flow EBIT Page 13/17

14 Business Value Indicator Your Current Business Value Indicator Weighted Average EBITDA $ 664,3 + 3, = 694,3 Your Expected Business Value $ 3,, EBITDA Multiple EBITDA Valuation Of Your Business 2,777,2 3,471,5 4,165,8 4,86,1 Less Total Debt 2,65, 2,65, 2,65, 2,65, Your Equity Valuation 127,2 821,5 1,515,8 2,21,1 Your Actual Equity 1,5, 1,5, 1,5, 1,5, Your Value Improvement Your Power Of One Value Uplift EBITDA Multiple Price Increase (2%) 464, 58, 696, 812, Volume Increase (%) COGS Reduction (%) Overheads Reduction (3%) 123, 153,75 184,5 215,25 Profit Impact on Valuation 587, 733,75 88,5 1,27,25 Reduction in Debtors Days (7d) 111, , , ,233 Reduction in Stock Days (d) Increase in Creditors Days (d) Cash Impact on Valuation 111, , , ,233 Your Power of One Impact 698, , ,733 1,138,483 Your Enhanced Value Indicator EBITDA Multiple Your Equity Valuation 127,2 821,5 1,515,8 2,21,1 Your Power of One Impact 698, , ,733 1,138,483 Your Enhanced Equity Indicator 825,433 1,666,483 2,57,533 3,348,583 Page 14/17

15 Sustainable Growth Your Sustainable Growth If you increase your Revenue by Your Gross Margin will be Your EBIT will be Your Retained Profit will be $ 1 $ $ 1.78 $ 4.31 Less COGS $ Less Overheads $ Less Other inc/exp $. Interest $ 2.59 Tax $ 2.16 Dividend $ 1.72 You will require Working Capital of $ You will have a shortfall of $ At your current Debt to Equity ratio of 1:2.52 you could borrow $ 1.88 Page 15/17

16 Results Profit & Loss Revenue 2,94, 3,4, 5,, 5,8, COGS 2,277, 2,535, 3,7, 4,15, Gross Margin 663, 865, 1,3, 1,65, Overheads 339, 55, 833, 1,25, EBIT 324, 36, 467, 625, Other Inc/Exp Interest 4, 5, 1, 15, Net Profit before Tax 284, 31, 367, 475, Tax 186, 114,6 87, 125, Net Profit 98, 195,4 28, 35, Dividends Paid 45,4 18, 1, Retained Profit 98, 15, 1, 25, Balance Sheet Cash 75, 5, Trade Debtors 4, 57, 9, 1,2, Stock 4, 6, 92, 1,25, Other Current Assets 125, 28, 28, 5, Current Assets 1,, 1,5, 2,1, 2,5, Fixed Assets 8, 1,, 1,4, 1,8, Other Non Current Assets 2, 2, 1, 15, Non Current Assets 1,, 1,2, 1,5, 1,95, Total Assets 2,, 2,7, 3,6, 4,45, Trade Creditors 22, 3, 45, 5, Bank Loans - Current 4, 1,, 1,45, Other Current Liabilities 23, 1, 15, 2, Current Liabilities 45, 8, 1,6, 2,15, Bank Loans - Non Current 1,, 1,, 1,2, 1,2, Other Non Current Liabilities 2, 5, Non Current Liabilities 1,, 1,2, 1,2, 1,25, Total Liabilities 1,45, 2,, 2,8, 3,4, Equity 55, 7, 8, 1,5, Page 16/17

17 Powered by TCPDF ( Rebeccas Coffee Chapter 1 - Profitability Revenue 2,94, 3,4, 5,, 5,8, Revenue Growth % N/A Gross Margin % Overheads % EBIT % EBITDA 374, 434, 567, 725, Net Profit % Chapter 2 - Working Capital Debtors Days Stock Days Creditors Days Working Capital Days Working Capital % 19.73% 25.59% 27.4% 33.62% Marginal Cash Flow Current Ratio Chapter 3 - Other Capital Operating Capital % 3.44% 34.71% 32.6% 3.17% Net Operating Assets % 5.17% 6.29% 6.% 63.79% Asset Turnover Return on Capital % 21.97% 17.56% 15.57% 16.89% Return on Total Assets % 16.2% 13.33% 12.97% 14.4% Return on Equity % 17.82% 27.91% 35.% 33.33% Chapter 4 - Funding Marginal Cash Flow Operating Cash Flow N/A 144, 67, 145, Net Cash Flow N/A -425, -85, -45, Net Debt 925, 1,35, 2,2, 2,65, Debt to Equity Interest Cover Page 17/17

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