Projection cas assumptions for year 2020:

Sales Sales growth at same historical growth rate

COGS COGS/ Sales is average historical rate
SG&A SG&A / Sales is average historical rate

CIP Expected to ended at 2019 ,50% of ending 2019 witll tranfer to bulding at the other 50% will tran

Maintenance NO
Depreciation Direct 3% & indirect 2% of the gross fixed asset less land
Copmany is scheduled to pay EGP 20.000 of the outstanding MTL line on 30th June 2020 and the
Paid Facility
June 2021 . And there is no other LTD
Existing facility 12%
Intrest Rate
New STD 10%
Cash Company keeps 20 % of sales in the form of cash
Credit Policy is as follows :
DOH
AR 110
RM 130
WIP 20
FG 35
AP 90
DP 13
Projection should be conservative on current liabilities
Non Current liabilities Same As last historical
Common stock No Change
Taxes 20% of NPBT
Dividends 25% of NPAUI
Legal Reserves 5% of NPAUI
Land & fixed asset As the same 2019
g at the other 50% will transfer to machinary

on 30th June 2020 and the same amount on 30th

 Projected income statement

(1000) 12/31/2018 12/31/2019 31/12/2020 ( Projected )

Sales 180 194

COGS -108 -113

Depreciation -7 -8

Gross Profit 65 73

SG&A -9 -14

Depreciation -5 -5

Net Operating Profit 51 54

Intrest Exp. ( Exist ) -18 -15

Intrest Exp. ( New)

Sundry Exp. -5 -7

Net Profit Before Tax 28 32

Tax Exp. -7 -6

Net Profit After Tax 21 26

NPAUI 21 26

Common Stock dividance -10 -10

Other Adjustment -2 -2

Total Change in RE 9 14
e statement

7.777778 209.0889
 Projected Balance Sheet

(1000) 12/31/2018 12/31/2019 31/12/202 ( Projected )

Asset

Current Assets

Cash 22 33

AR 50 62

Inventory

RM 38 44

WIP 5 6

FG 9 13

Total Inventory 52 63

Total Current Assets 124 158

Fixed Assets

Land 50 50

Bulding 90 103

Machinery 75 85

Other 30 30

Total fixed Asset 245 268

Accumulated Depreciation -53 -66

Net Fixed Asset 192 202

Construction In Progress 60 40

other Investment 60 65

Total Asset 436 465

 Projected Balance Sheet

(1000) 12/31/2018 12/31/2019 31/12/202 ( Projected )

Liabilities & OE

Current Liabilities

STD 35 37

CPLTD 20 20

AP 22 27

Down Payment 5 7

Tax Payable 3 4

Intrest Payable 8 5

Dividance Payable 5 6

Total Current Liabilities 98 106

LTD 120 115

Other Long Term Liab. 5 15

Total Liabilities 223 236

Common Stock 150 150

RE opening 45 54

Plus : Net Income 21 26

Less : Dividance -10 -10

Less : Adjustments -2 -2

RE closing 54 68

others 9 11

Toatl Equity 213 229

Total Liabilities &OE 436 465

 2018 2019 2020 2021
CPLTD 20 20 20 20
LTD 120 115 95 75
140 135 115 95

Intrest 15