Model Content

Input & Calculations

Input
Capital Schedules
Capital expenditures & Depreciation
Operational expenses
Revenue calculation

Output & Analysis

Summary
Profit & Loss Account
Balance Sheet
Cash Flow Statement
Analysis

Model Details
Company Name AFN Manufacturing
Company Location New York, USA
Nature of Business Manufacturing
Model Start date 1-Jan-20
Currency $

Model Navigation
Input Cells 12,345.00
Linked cells 12,345.00
Formula cell 12,345.00
AFN Manufacturing
New York, USA
Manufacturing 2020
Menu $
Unit Input
Details C ap % Amount Rate
Equity financing 28.57% 120,00,000 25%
Debt financing 71.43% 300,00,000 6.5%
Total capital 420,00,000 10.81% Break Even Period

Average Gross Profit Average

Margin ROE Yr0 Yr1 Yr1 Yr2 Yr2 Yr3 Yr3 Yr4

Revenue 30.72m
growth change -
EBITDA 10.45m
48.00% 27.90% margin 34.03%

Performance comparison
45.00m
40.00m
Average Average Net Profit 35.00m
ROI Margin 30.00m
25.00m
20.00m
15.00m
10.00m
5.00m
18.60% 19.17% -
2020 2021 2022 20

Revenue EBITDA
NPV 14.95m
Payback Period 3 Yr
 2021 2022 2023 2024
$ $ $ $

Break Even Period

Yr2 Yr3 Yr3 Yr4 Yr4 Yr5 Yr5

32.56m 36.18m 40.56m 42.40m

6.00% 11.10% 12.11% 4.54%
11.50m 13.21m 15.32m 16.13m
35.31% 36.53% 37.77% 38.05%

ormance comparison

021 2022 2023 2024

Revenue EBITDA
AFN Manufacturing
New York, USA
Manufacturing Base
Menu
$
Unit Input
Scenarios
Base Case
Best Case
Worse Case

CAGR/Industry revenue growth rate

Base Case
Best Case
Worse Case

Inflation/cost inflation
Base Case
Best Case
Worse Case

Price increase rate/inflation

Base Case
Best Case
Worse Case

Macro-Economic Assumptions
Days in a year days
Months in a year months
CAGR/Industry revenue growth rate % 6.1%
Price increase rate/inflation %
Inflation/cost inflation %
Tax rate (corporate tax) %

Financing Assumptions
Sources of Financing
Owner's Funding
Long-term debt financing
Investors funding/Equity
Cost of Funding
Loan period
Loan interest rate
Dividend payout ratio
Interest on cash deposit
Long term cash investment/deposti
Interest on overdraft
$ 2,000,000
$ 30,000,000
$ 10,000,000
40,000,000
year 5
% 6.5%
% 25.0%
% 2.5%
% 75.0%
% 5.0%
Operating working capital Assumptions
Trade Receivable days days
Trade Payable days days
Inventory days days

Revenue Assumptions
Product
Price
Coke $/unit 100
Fanta $/unit 100
Sprite $/unit 80
Cost
Coke $/unit 50
Fanta $/unit 45
Sprite $/unit 43.5
Average unit
Coke Unit/month 12,000
Fanta Unit/month 8,000
Sprite Unit/month 7,000

Cost & Expenses Assumptions

Startup expenses and Capex Amount Depreciation
Pre-startup expenses
Business registration $ 5,000
Licensing & Permit $ 5,000
Legal & Professional cost $ 10,000
Business awareness & Ads $ 50,000
Research & Development $ 50,000
Assets
Tangible
Land & Building $ 3,000,000 0year
Plant & Machinery $ 12,000,000 10year
Office Equipment $ 5,000,000 5year
Motor Vehcile $ 5,000,000 5year
Intangible
Website $ 3,000 5year
Software $ 5,000 5year
Branding & R&D $ 100,000 10year
Pre-operational expense
Prepaid Rent/Lease $ 500,000
Prepaid Insurance $ 18,000
Inventory & raw materials $ 10,000,000
Marketing & Advertisement $ 100,000
Operating working capital
working capital $ 4,154,000

Total startup expenses $ 40,000,000

Operating Expenses
Salary Number per month
Production staff 5 15,000
Admin staff 5 18,000
Managers 2 30,000
Supervisor 2 20,000
Marketers 5 16,000
Admin & Maintenance Expenses
Utilities per month 2,000
Rent/Lease per month 41,667
Office supplies per month 3,000
Insurance per month 1,500
Marketing per month 5,000
Maintenance per month 2,500
Telephone expenses per month 500
Subscriptions per month 300
Transportation expenses per month 1,500
Miscellaneous per month 3,000
2020 2021 2022 2023 2024
$ $ $ $ $

0% 6.00% 10.00% 11.00% 3.50%

0.0% 6.0% 10.0% 11.0% 3.5%
0.0% 11.0% 15.0% 16.0% 8.5%
0.0% 4.0% 8.0% 9.0% 1.5%

2.73% 2.27% 2.23% 2.23% 2.24%

2.73% 2.27% 2.23% 2.23% 2.24%
1.73% 1.27% 1.23% 1.23% 1.24%
4.7% 4.3% 4.2% 4.2% 4.2%

0% 0% 1.00% 1.00% 1.00%

0.0% 0.0% 1.0% 1.0% 1.0%
1.73% 1.27% 1.23% 1.23% 1.24%
4.7% 4.3% 4.2% 4.2% 4.2%

366 365 365 365 366

12 12 12 12 12
0% 6.00% 10.00% 11.00% 3.50% https://www.marketsandmarkets.com/food-equipment-and-technology-mar
0% 0% 1.00% 1.00% 1.00%
2.73% 2.27% 2.23% 2.23% 2.24% https://www.statista.com/statistics/244983/projected-inflation-rate-in-the-u
21.0% 21.0% 21.0% 21.0% 21.0% https://www.taxpolicycenter.org/briefing-book/how-does-corporate-incom
30 30 30 30 30
30 30 30 30 30
25 25 25 25 25
ment-and-technology-market-research-209.html

cted-inflation-rate-in-the-united-states/
ow-does-corporate-income-tax-work
AFN Manufacturing
New York, USA
Manufacturing Menu

Unit Input

Equity & Owner's Funding

Owner's Funding $ 2,000,000
Investors funding/Equity $
Dividend payout ratio 25%

Share Capital Schedule

Opening balance
Change
Ending balance

Long-term debt Financing

Long-term debt financing $
Loan period year 5
Loan interest rate % 6.5%

Loan Active period mask

Principal repayment $ 7,219,036.13

Loan Schedule
Begining balance
Add: new issue of debt
Less: Repayment
Ending balance

Loan interest rate

Interest expense

Cost of Capital/WACC
Details Cap % Amount Rate
Equity financing 28.57% 12,000,000 25%
Debt financing 71.43% 30,000,000 6.5%
Total capital 42,000,000 10.81%

WACC formula (% of Equity * cost of equity) + [(% of debt * cost of debt)*(1-ta

Tax rate 21.00%
WACC 10.8%
Dividend
Dividend payout ratio % 25%
Net Income
Dividend paid

Retained Earnings
Beginning balance
Add: Net income
Less: dividend paid
Retained earnings

Tax Calculation
Tax rate (corporate tax)
Earnings before tax

Tax mask
Tax expense
 Base 2020 2021 2022 2023 2024
$ $ $ $ $ $

- - - - -
10,000,000 - - - - -

2,000,000 12,000,000 12,000,000 12,000,000 12,000,000

10,000,000 - - - -
2,000,000.00 12,000,000.00 12,000,000.00 12,000,000.00 12,000,000.00 12,000,000.00

30,000,000.00 0.00 0.00 0.00 0.00 0.00

1 1 1 1 1

30,000,000 24,730,964 19,119,440 13,143,168 6,778,438

- - - - -
5,269,036 5,611,523 5,976,273 6,364,730 6,778,438
30,000,000.00 24,730,963.87 19,119,440.40 13,143,167.89 6,778,437.68 0.00

6.5% 6.5% 6.5% 6.5% 6.5%

1,950,000.00 1,607,512.65 1,242,763.63 854,305.91 440,598.45

ty) + [(% of debt * cost of debt)*(1-tax rate)]

 25% 25% 25% 25% 25%
4,181,309 5,523,617 6,951,483 9,119,804 9,996,960
1,045,327 1,380,904 1,737,871 2,279,951 2,499,240

- 3,135,982 7,278,694 12,492,307 19,332,160

4,181,309 5,523,617 6,951,483 9,119,804 9,996,960
1,045,327 1,380,904 1,737,871 2,279,951 2,499,240
3,135,982 7,278,694 12,492,307 19,332,160 26,829,880

21% 21% 21% 21% 21%

5,292,796 6,991,920 8,799,346 11,544,056 12,654,380

1 1 1 1 1
1,111,487 1,468,303 1,847,863 2,424,252 2,657,420
AFN Manufacturing
New York, USA
Manufacturing
Startup Expenses
Capex & start-up cost
Pre-startup expenses
Business registration
Licensing & Permit
Legal & Professional cost
Business awareness & Ads
Research & Development
Assets
Tangible
Land & Building
Plant & Machinery
Office Equipment
Motor Vehcile
Intangible
Website
Software
Branding & R&D
Pre-operational expense
Prepaid Rent/Lease
Prepaid Insurance
Inventory & raw materials
Marketing & Advertisement
Operating working capital
working capital
Total startup expenses
Pre-start Expenses
Expenses in P&L
Business registration
Licensing & Permit
Legal & Professional cost
Business awareness & Ads
Research & Development
Marketing & Advertisement
Total Pre-operational expenses
Capex schedule & Calculation
Tangible
Menu
Unit Input
Amount Depreciation
$ 5,000
$ 5,000
$ 10,000
$ 50,000
$ 50,000
$ 3,000,000 0 Yr
$ 12,000,000 10 Yr
$ 5,000,000 5 Yr
$ 5,000,000 5 Yr
$ 3,000 5 Yr
$ 5,000 5 Yr
$ 100,000 10 Yr
$ 500,000
$ 18,000
$ 10,000,000
$ 100,000
$ 4,154,000
40,000,000
$ 5,000
$ 5,000
$ 10,000
$ 50,000
$ 50,000
$ 100,000
220,000
 Land & Building $ 0 Yr
Plant & Machinery $ 10 Yr
Office Equipment $ 5 Yr
Motor Vehcile $ 5 Yr
Intangible
Website $ 5 Yr
Software $ 5 Yr
Branding & R&D $ 10 Yr

Summary
Tangible
Beginning balance
Add: New Assets
Less: Depreciation
Ending balance

Intangible
Beginning balance
Add: New Assets
Less: Depreciation
Ending balance

Depreciation Schedule
Land & Building
Beginning balance
Add: New Assets
Less: Depreciation
Ending balance

dep yr
3,000,000
0
0
0
0

Plant & Machinery

Beginning balance
Add: New Assets
Less: Depreciation
Ending balance

dep yr
 12,000,000
0
0
0
0

Office Equipment
Beginning balance
Add: New Assets
Less: Depreciation
Ending balance

dep yr

5,000,000
0
0
0
0

Motor Vehcile
Beginning balance
Add: New Assets
Less: Depreciation
Ending balance

dep yr

5,000,000
0
0
0
0

Website
Beginning balance
Add: New Assets
Less: Depreciation
Ending balance
 dep yr

3,000
0
0
0
0

Software
Beginning balance
Add: New Assets
Less: Depreciation
Ending balance

dep yr

5,000
0
0
0
0

Branding & R&D

Beginning balance
Add: New Assets
Less: Depreciation
Ending balance

dep yr

100,000
0
0
0
0
Base 2020 2021 2022 2023 2024
$ $ $ $ $ $
 3,000,000 - - - -
12,000,000 - - - -
5,000,000 - - - -
5,000,000 - - - -

3,000 - - - -
5,000 - - - -
100,000 - - - -

- 21,800,000 18,600,000 15,400,000 12,200,000

25,000,000 - - - -
3,200,000 3,200,000 3,200,000 3,200,000 3,200,000
21,800,000 18,600,000 15,400,000 12,200,000 9,000,000

- 96,400 84,800 73,200 61,600

108,000 - - - -
11,600 11,600 11,600 11,600 11,600
96,400 84,800 73,200 61,600 50,000

- 3,000,000 3,000,000 3,000,000 3,000,000

3,000,000 - - - -
- - - - -
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000

0 Yr 2020 2021 2022 2023 2024

2020 - - - - -
2021 - - - - -
2022 - - - - -
2023 - - - - -
2024 - - - - -

Depreciation - - - - -

- 10,800,000 9,600,000 8,400,000 7,200,000

12,000,000 - - - -
1,200,000 1,200,000 1,200,000 1,200,000 1,200,000
10,800,000 9,600,000 8,400,000 7,200,000 6,000,000

10 Yr 2020 2021 2022 2023 2024

 2020 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000
2021 - - - - -
2022 - - - - -
2023 - - - - -
2024 - - - - -

Depreciation 1,200,000 1,200,000 1,200,000 1,200,000 1,200,000

- 4,000,000 3,000,000 2,000,000 1,000,000

5,000,000 - - - -
1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
4,000,000 3,000,000 2,000,000 1,000,000 -

5 Yr 2020 2021 2022 2023 2024

2020 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000

2021 0 0 0 0 0
2022 0 0 0 0 0
2023 0 0 0 0 0
2024 0 0 0 0 0

Depreciation 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000

- 4,000,000 3,000,000 2,000,000 1,000,000

5,000,000 - - - -
1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
4,000,000 3,000,000 2,000,000 1,000,000 -

5 Yr 2020 2021 2022 2023 2024

2020 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000

2021 - - - - -
2022 - - - - -
2023 - - - - -
2024 - - - - -

Depreciation 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000

- 2,400 1,800 1,200 600

3,000 - - - -
600 600 600 600 600
2,400 1,800 1,200 600 -
 5 Yr 2020 2021 2022 2023 2024

2020 600 600 600 600 600

2021 - - - - -
2022 - - - - -
2023 - - - - -
2024 - - - - -

Depreciation 600 600 600 600 600

- 4,000 3,000 2,000 1,000

5,000 - - - -
1,000 1,000 1,000 1,000 1,000
4,000 3,000 2,000 1,000 -

5 Yr 2020 2021 2022 2023 2024

2020 1,000 1,000 1,000 1,000 1,000

2021 - - - - -
2022 - - - - -
2023 - - - - -
2024 - - - - -

Depreciation 1,000 1,000 1,000 1,000 1,000

- 90,000 80,000 70,000 60,000

100,000 - - - -
10,000 10,000 10,000 10,000 10,000
90,000 80,000 70,000 60,000 50,000

10 Yr 2020 2021 2022 2023 2024

2020 10,000 10,000 10,000 10,000 10,000

2021 - - - - -
2022 - - - - -
2023 - - - - -
2024 - - - - -

Depreciation 10,000 10,000 10,000 10,000 10,000

AFN Manufacturing
New York, USA
Manufacturing Menu Base
$
Unit Input

Operating Expenses
Months in a year months
Inflation/cost inflation %

Salary
Utilities per month 2,000
Rent/Lease per month 41,667
Office supplies per month 3,000
Insurance per month 1,500
Marketing per month 5,000
Maintenance per month 2,500
Telephone expenses per month 500
Subscriptions per month 300
Transportation expenses per month 1,500
Miscellaneous per month 3,000
Total Operational Expenses

Depreciation & Amortization

Interest expenses

Overhead Labour cost

Salary Calculation
Months in a year months
Inflation/cost inflation %

Overhead Salaries Per month

Production staff 5 15,000
Total overhead labour cost

Admin & Selling Salaries

Admin staff 5 18,000
Managers 2 30,000
Supervisor 2 20,000
Marketers 5 16,000
Total Admin & Selling Labout cost

Total Salary
Working Capital
Days in a year
Total Revenue
Total cost of Sales

Trade Receivable days days

Trade Payable days days
Inventory days days

Trade Receivables
Trade Payables
Inventory
2020 2021 2022 2023 2024
$ $ $ $ $

12 12 12 12 12
2.73% 2.27% 2.23% 2.23% 2.24%

3,240,000 3,313,548 3,387,440 3,462,980 3,540,551

24,000 24,545 25,092 25,652 26,226
500,004 511,354 522,757 534,415 546,386
36,000 36,817 37,638 38,478 39,339
18,000 18,409 18,819 19,239 19,670
60,000 61,362 62,730 64,129 65,566
30,000 30,681 31,365 32,065 32,783
6,000 6,136 6,273 6,413 6,557
3,600 3,682 3,764 3,848 3,934
18,000 18,409 18,819 19,239 19,670
36,000 36,817 37,638 38,478 39,339
3,971,604 4,061,759 4,152,337 4,244,934 4,340,020

3,211,600 3,211,600 3,211,600 3,211,600 3,211,600

1,950,000 1,607,513 1,242,764 854,306 440,598

900,000 920,430 940,956 961,939 983,486

12 12 12 12 12
2.73% 2.27% 2.23% 2.23% 2.24%

900,000 920,430 940,956 961,939 983,486

900,000 920,430 940,956 961,939 983,486

1,080,000 1,104,516 1,129,147 1,154,327 1,180,184

720,000 736,344 752,764 769,551 786,789
480,000 490,896 501,843 513,034 524,526
960,000 981,792 1,003,686 1,026,068 1,049,052
3,240,000 3,313,548 3,387,440 3,462,980 3,540,551

4,140,000 4,233,978 4,328,396 4,424,919 4,524,037

 366 365 365 365 366
30,720,000 32,563,200 36,177,715 40,558,837 42,398,180
15,174,000 16,084,440 17,869,813 20,033,847 20,942,382

30 30 30 30 30
30 30 30 30 30
25 25 25 25 25

2,518,033 2,676,427 2,973,511 3,333,603 3,475,261

1,243,770 1,322,009 1,468,752 1,646,618 1,716,589
1,036,475 1,101,674 1,223,960 1,372,181 1,430,491
AFN Manufacturing
New York, USA
Manufacturing Menu Base 2020
$ $
Unit Input

Revenue Calculation
Assumptions
CAGR/Industry revenue growth rate 0.00%
Price increase rate/inflation 0.00%
Product
Price
Coke $/unit 100.00
Fanta $/unit 100.00
Sprite $/unit 80.00
Cost
Coke $/unit 50.00 50.00%
Fanta $/unit 45.00 45.00%
Sprite $/unit 43.50 54.38%
Average unit
Coke Unit/month 12,000.00
Fanta Unit/month 8,000.00
Sprite Unit/month 7,000.00

Pricing Calculations
Price inflation increase 0.00%
Coke $/unit 100.00 100.00
Fanta $/unit 100.00 100.00
Sprite $/unit 80.00 80.00

Product Cost of Production

Coke $/unit 50.00 50.00% 50.00
Fanta $/unit 45.00 45.00% 45.00
Sprite $/unit 43.50 54.38% 43.50

Unit Product
Months in a year months 12
CAGR/Industry revenue growth rate 0.00%

Coke Unit/month 12,000 144,000

Fanta Unit/month 8,000 96,000
Sprite Unit/month 7,000 84,000
Total production 324,000
Revenue
Coke $ 14,400,000
Fanta $ 9,600,000
Sprite $ 6,720,000
Total Revenue $ 30,720,000

Cost of Sales
Coke $ 7,200,000
Fanta $ 4,320,000
Sprite $ 3,654,000
Total cost of Sales $ 15,174,000
2021 2022 2023 2024
$ $ $ $

6.00% 10.00% 11.00% 3.50%

0.00% 1.00% 1.00% 1.00%

0.00% 1.00% 1.00% 1.00%

100.00 101.00 102.01 103.03
100.00 101.00 102.01 103.03
80.00 80.80 81.61 82.42

50.00 50.50 51.01 51.52

45.00 45.45 45.90 46.36
43.50 43.94 44.37 44.82

12 12 12 12
6.00% 10.00% 11.00% 3.50%

152,640 167,904 186,373 192,897

101,760 111,936 124,249 128,598
89,040 97,944 108,718 112,523
343,440 377,784 419,340 434,017
15,264,000 16,958,304 19,011,955 19,874,147
10,176,000 11,305,536 12,674,636 13,249,431
7,123,200 7,913,875 8,872,245 9,274,602
32,563,200 36,177,715 40,558,837 42,398,180

7,632,000 8,479,152 9,505,977 9,937,073

4,579,200 5,087,491 5,703,586 5,962,244
3,873,240 4,303,170 4,824,283 5,043,065
16,084,440 17,869,813 20,033,847 20,942,382
AFN Manufacturing
New York, USA
Manufacturing Menu Base 2020
$ $
Unit Input

Income Statement
Revenue
Coke 14,400,000
Fanta 9,600,000
Sprite 6,720,000
Total Revenue 30,720,000
Cost of Sales
Coke 7,200,000
Fanta 4,320,000
Sprite 3,654,000
Overhead Labour cost 900,000
Total Cost of sales 16,074,000
Gross Profit 14,646,000
Operational Expenses
Pre-operational expenses 220,000
Salary 3,240,000
Utilities 24,000
Rent/Lease 500,004
Office supplies 36,000
Insurance 18,000
Marketing 60,000
Maintenance 30,000
Telephone expenses 6,000
Subscriptions 3,600
Transportation expenses 18,000
Miscellaneous 36,000
Total Operational Expenses 4,191,604
EBITDA 10,454,396
Depreciation & Amortization 3,211,600
EBIT 7,242,796
Interest expenses 1,950,000
Interest income -
EBT 5,292,796
Tax expense 1,111,487
Net Profit 4,181,309

Summarized Income Statement

Revenue 30,720,000
COGS 16,074,000
Gross Profit 14,646,000
SG&A 4,191,604
EBITDA 10,454,396
Depreciation 3,211,600
EBIT 7,242,796
Interest expense 1,950,000
Interest income -
EBT 5,292,796
Tax expense 1,111,487
Profit after tax 4,181,309
Cash Balance 16,771,295
 2021 2022 2023 2024
$ $ $ $

15,264,000 16,958,304 19,011,955 19,874,147

10,176,000 11,305,536 12,674,636 13,249,431
7,123,200 7,913,875 8,872,245 9,274,602
32,563,200 36,177,715 40,558,837 42,398,180

7,632,000 8,479,152 9,505,977 9,937,073

4,579,200 5,087,491 5,703,586 5,962,244
3,873,240 4,303,170 4,824,283 5,043,065
920,430 940,956 961,939 983,486
17,004,870 18,810,768 20,995,786 21,925,868
15,558,330 17,366,947 19,563,050 20,472,311

3,313,548 3,387,440 3,462,980 3,540,551

24,545 25,092 25,652 26,226
511,354 522,757 534,415 546,386
36,817 37,638 38,478 39,339
18,409 18,819 19,239 19,670
61,362 62,730 64,129 65,566
30,681 31,365 32,065 32,783
6,136 6,273 6,413 6,557
3,682 3,764 3,848 3,934
18,409 18,819 19,239 19,670
36,817 37,638 38,478 39,339
4,061,759 4,152,337 4,244,934 4,340,020
11,496,571 13,214,610 15,318,117 16,132,291
3,211,600 3,211,600 3,211,600 3,211,600
8,284,971 10,003,010 12,106,517 12,920,691
1,607,513 1,242,764 854,306 440,598
314,462 39,100 291,846 174,287
6,991,920 8,799,346 11,544,056 12,654,380
1,468,303 1,847,863 2,424,252 2,657,420
5,523,617 6,951,483 9,119,804 9,996,960

32,563,200 36,177,715 40,558,837 42,398,180

17,004,870 18,810,768 20,995,786 21,925,868
15,558,330 17,366,947 19,563,050 20,472,311
4,061,759 4,152,337 4,244,934 4,340,020
11,496,571 13,214,610 15,318,117 16,132,291
3,211,600 3,211,600 3,211,600 3,211,600
8,284,971 10,003,010 12,106,517 12,920,691
1,607,513 1,242,764 854,306 440,598
314,462 39,100 291,846 174,287
6,991,920 8,799,346 11,544,056 12,654,380
1,468,303 1,847,863 2,424,252 2,657,420
5,523,617 6,951,483 9,119,804 9,996,960
6,147,074 19,717,433 13,540,261 22,276,642
AFN Manufacturing
New York, USA
Manufacturing Menu Base
$
Unit Input

Asset
Non current Asset
Tangible asset
Intangible asset
Long term investment
Net non current asset
Current asset
Inventories
Receivables
Cash and Cash equivalent
Total current asset
Total Assets
Liabilities and Equity
Liabilities
Non current liabilites
Long term loan
Total non current liabilities
Current liabilities
Overdraft/Revolver
Trade payables
Tax payable
Total current liabilites
Total liabilities
Equity
Share capital
Retained earnings
Total equity
Total liabilities and equity

Balance check
2020 2021 2022 2023 2024
$ $ $ $ $

21,800,000 18,600,000 15,400,000 12,200,000 9,000,000

96,400 84,800 73,200 61,600 50,000
- 12,578,471 1,563,986 11,673,822 6,971,495
21,896,400 31,263,271 17,037,186 23,935,422 16,021,495

1,036,475 1,101,674 1,223,960 1,372,181 1,430,491

2,518,033 2,676,427 2,973,511 3,333,603 3,475,261
16,771,295 6,147,074 19,717,433 13,540,261 22,276,642
20,325,803 9,925,175 23,914,903 18,246,045 27,182,393
42,222,203 41,188,446 40,952,089 42,181,467 43,203,889

24,730,964 19,119,440 13,143,168 6,778,438 -

24,730,964 19,119,440 13,143,168 6,778,438 -

- - - - -
1,243,770 1,322,009 1,468,752 1,646,618 1,716,589
1,111,487 1,468,303 1,847,863 2,424,252 2,657,420
2,355,258 2,790,312 3,316,614 4,070,869 4,374,008
27,086,222 21,909,752 16,459,782 10,849,307 4,374,008

12,000,000 12,000,000 12,000,000 12,000,000 12,000,000

3,135,982 7,278,694 12,492,307 19,332,160 26,829,880
15,135,982 19,278,694 24,492,307 31,332,160 38,829,880
42,222,203 41,188,446 40,952,089 42,181,467 43,203,889

- - - - -
AFN Manufacturing
New York, USA
Manufacturing Menu Base
$
Unit Input

Cashflow from operating activities

EBT
Depreciation & amortization
Changes in working capital
Inventories
Receivables
Payables
Taxation
Tax paid
Net cash flow from operating activities
Cashflow from Investing activities
Tangible asset
Intangible asset
Long term investment
Net cash flow from investing activities
Cashflow from financing
Share capital
Long term loan
Principal repayment
Dividend
Net cash flow from financing activities
Cash Analysis
Beginning balance
Cash generated for the period
Ending balance 2,000,000

Closing cash balance

Minimum cash needed
Cash available for investment
Cash invested 75.0%
Interest income 2.5%
 2020 2021 2022 2023 2024
$ $ $ $ $

5,292,796 6,991,920 8,799,346 11,544,056 12,654,380

3,211,600 3,211,600 3,211,600 3,211,600 3,211,600

(1,036,475) (65,199) (122,286) (148,222) (58,309)

(2,518,033) (158,395) (297,083) (360,092) (141,658)
1,243,770 78,238 146,743 177,866 69,971

- (1,111,487) (1,468,303) (1,847,863) (2,424,252)

6,193,658 8,946,678 10,270,017 12,577,346 13,311,732

(25,000,000) - - - -
(108,000) - - - -
- (12,578,471) 11,014,485 (10,109,836) 4,702,327
(25,108,000) (12,578,471) 11,014,485 (10,109,836) 4,702,327

10,000,000 - - - -
30,000,000 - - - -
(5,269,036) (5,611,523) (5,976,273) (6,364,730) (6,778,438)
(1,045,327) (1,380,904) (1,737,871) (2,279,951) (2,499,240)
33,685,637 (6,992,428) (7,714,143) (8,644,681) (9,277,678)

2,000,000 16,771,295 6,147,074 19,717,433 13,540,261

14,771,295 (10,624,221) 13,570,359 (6,177,172) 8,736,381
16,771,295 6,147,074 19,717,433 13,540,261 22,276,642

16,771,295 6,147,074 19,717,433 13,540,261 22,276,642

4,061,759 4,152,337 4,244,934 4,340,020
16,771,295 2,085,314 15,565,096 9,295,327 17,936,622
12,578,471 1,563,986 11,673,822 6,971,495 13,452,466
314,462 39,100 291,846 174,287
AFN Manufacturing
New York, USA
Manufacturing Menu Base
$
Unit Input

Net Present Value (NPV) -

Cash Flow (42,000,000)
Discount rate 10.8%
Discounted 1.000
Present Value (42,000,000)
Net Present Value 14,946,363

Payback Period -
Cash flow (42,000,000)
Cummulative cash flow (42,000,000)
Payback period 3.0year

Break even analysis

Sales
Variable Cost
Contribution
Contribution-sales ratio (c/s)

Fixed cost

Break Even Point in Sales Revenue

Break even mask
Break even year 1.0year

Margin average
Revenue growth 8.44% 91.56%
Gross margin 48.00% 52.00%
Opex to sales 11.66% 88.34%
EBITDA margin 36.34% 63.66%
Net profit margin 19.17% 80.83%

ROI 18.60% 81.40%

ROE 27.90% 72.10%
ROA 17.01% 82.99%

Dupont Analysis
Net profit margin 19.17% 80.83%
Sales/Asset 0.87x 0.13x
Asset/equity 1.81x 0.00x
ROE 27.90% 72.10%
 2020 2021 2022 2023 2024
$ $ $ $ $

1 2 3 4 5
16,771,295 6,147,074 19,717,433 13,540,261 22,276,642
10.8% 10.8% 10.8% 10.8% 10.8%
0.902 0.814 0.735 0.663 0.599
15,135,084 5,006,162 14,491,225 8,980,490 13,333,401

1 2 3 4 5
16,771,295 6,147,074 19,717,433 13,540,261 22,276,642
(25,228,705) (19,081,631) 635,801 14,176,062 36,452,704
3.0

1 2 3 4 5
30,720,000 32,563,200 36,177,715 40,558,837 42,398,180
16,074,000 17,004,870 18,810,768 20,995,786 21,925,868
14,646,000 15,558,330 17,366,947 19,563,050 20,472,311
0.48 0.48 0.48 0.48 0.48

4,191,604 4,061,759 4,152,337 4,244,934 4,340,020

8,791,894 8,501,162 8,649,883 8,800,753 8,988,187

1 1 1 1 1
1

- 6.00% 11.10% 12.11% 4.54%

47.68% 47.78% 48.00% 48.23% 48.29%
13.64% 12.47% 11.48% 10.47% 10.24%
34.03% 35.31% 36.53% 37.77% 38.05%
13.61% 16.96% 19.21% 22.49% 23.58%

10.49% 14.39% 18.47% 23.93% 25.75%

27.62% 28.65% 28.38% 29.11% 25.75%
9.90% 13.41% 16.97% 21.62% 23.14%

13.61% 16.96% 19.21% 22.49% 23.58%

0.73x 0.79x 0.88x 0.96x 0.98x
2.79x 2.14x 1.67x 1.35x 1.11x
27.62% 28.65% 28.38% 29.11% 25.75%