| 12 Months | 1.0 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 | ||||||
| to end Dec | 1.0 | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | ||||||
| CASHFLOW PROJECTIONS | 1.0 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | $000 | ||||||
| 1.0 | ||||||||||||||||||||
| CASH RECEIPTS | 1.0 | |||||||||||||||||||
| Cash sales & accounts receivable (Note 1) | 172.3 | 309.1 | 328.0 | 299.6 | 334.3 | 330.7 | 373.2 | 381.6 | 409.4 | 440.6 | 449.8 | 460.4 | 4,288.9 | |||||||
| Proceeds of new stock issues | 25.0 | 300.0 | 325.0 | |||||||||||||||||
| Increases in longterm debt/notes | 50.0 | 250.0 | 250.0 | 550.0 | ||||||||||||||||
| Increases in other loans | 125.0 | 125.0 | ||||||||||||||||||
| Proceeds from sale of fixed assets | 50.0 | 50.0 | ||||||||||||||||||
| VAT recovered from State | 1.3 | 6.2 | 1.5 | 4.3 | 6.7 | 1.6 | 4.4 | 4.7 | 2.6 | 2.8 | 36.1 | |||||||||
| Capital grants/subsidies received | ||||||||||||||||||||
| Revenue grants/subsidies received | ||||||||||||||||||||
| Miscellaneous income received | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 10.0 | 120.0 | |||||||
| Interest received | 0.0 | 0.2 | 0.4 | 0.4 | 1.1 | 1.4 | 1.2 | 4.8 | ||||||||||||
| Total cash receipts | 1.0 | 182.3 | 345.5 | 394.2 | 311.0 | 348.5 | 465.8 | 690.4 | 393.2 | 674.1 | 706.4 | 463.8 | 524.4 | 5,499.8 | ||||||
| 1.0 | ||||||||||||||||||||
| CASH PAYMENTS | 1.0 | |||||||||||||||||||
| Materials/goods accounts payable (Note 2) | 114.2 | 153.0 | 153.7 | 122.8 | 135.6 | 132.9 | 156.7 | 153.9 | 171.7 | 181.9 | 180.7 | 186.4 | 1,843.6 | |||||||
| Total direct cost payments (Note 3) | 6.6 | 26.7 | 40.3 | 41.4 | 45.0 | 48.6 | 52.2 | 55.8 | 56.9 | 58.0 | 61.6 | 65.2 | 557.9 | |||||||
| Total overhead expense payments (Note 4) | 64.4 | 136.5 | 163.9 | 164.9 | 164.0 | 166.0 | 165.8 | 166.7 | 167.8 | 167.9 | 168.1 | 168.7 | 1,864.4 | |||||||
| Taxes paid | ||||||||||||||||||||
| Dividends paid | ||||||||||||||||||||
| Finance lease debt repayments | 10.0 | 10.0 | 10.0 | 10.0 | 18.0 | 10.0 | 10.0 | 18.0 | 10.0 | 8.0 | 114.0 | |||||||||
| Finance lease interest paid | 5.0 | 5.0 | 5.0 | 5.0 | 10.0 | 5.0 | 5.0 | 10.0 | 5.0 | 5.0 | 60.0 | |||||||||
| Capital expenditure payments | 45.0 | 150.0 | 195.0 | |||||||||||||||||
| Operating lease payments | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 5.5 | 66.0 | |||||||
| Longterm debt/note repayments | 25.0 | 25.0 | 25.0 | 25.0 | 100.0 | |||||||||||||||
| 'Other loan' repayments | 25.0 | 25.0 | ||||||||||||||||||
| VAT paid on overheads, capex etc. | ||||||||||||||||||||
| VAT paid to State | 20.0 | 0.5 | 20.5 | |||||||||||||||||
| Opening payroll taxes/benefits paid | 25.0 | 25.0 | ||||||||||||||||||
| Changes in prepaid expenses | (10.0) | (10.0) | ||||||||||||||||||
| Changes in accrued expenses | 20.0 | 20.0 | ||||||||||||||||||
| Interest paid | 6.8 | 7.1 | 7.7 | 8.4 | 8.9 | 12.2 | 11.1 | 8.2 | 9.6 | 11.6 | 13.4 | 12.8 | 117.9 | |||||||
| Total cash payments | 1.0 | 272.4 | 363.8 | 431.0 | 383.0 | 387.0 | 380.6 | 431.3 | 418.1 | 426.5 | 474.8 | 592.2 | 438.5 | 4,999.2 | ||||||
| 1.0 | ||||||||||||||||||||
| Net cashflow | 1.0 | (90.1) | (18.4) | (36.7) | (72.0) | (38.5) | 85.2 | 259.1 | (24.8) | 247.7 | 231.5 | (128.4) | 85.9 | 500.5 | ||||||
| Opening | 1.0 | Opening | ||||||||||||||||||
| Closing net cash balance (deficit) | (110.0) | 1.0 | (110.0) | (200.1) | (218.5) | (255.2) | (327.2) | (365.7) | (280.5) | (21.4) | (46.2) | 201.4 | 433.0 | 304.6 | 390.5 | 390.5 | ||||
| Notes on Cashflow Projections | 1.0 | |||||||||||||||||||
| 1.0 | ||||||||||||||||||||
| Note 1 | 1.0 | |||||||||||||||||||
| Cash sales & accounts receivable: | 1.0 | |||||||||||||||||||
| - Group1 | 16.0 | 86.8 | 101.9 | 101.1 | 114.4 | 102.7 | 127.0 | 117.1 | 131.5 | 145.9 | 149.1 | 146.9 | 1,340.4 | |||||||
| - Group2 | 5.3 | 32.3 | 54.3 | 68.9 | 76.9 | 77.1 | 88.3 | 98.3 | 107.8 | 114.2 | 115.7 | 124.5 | 963.5 | |||||||
| - Group3 | 2.6 | 15.9 | 26.7 | 34.0 | 37.9 | 38.0 | 43.5 | 48.4 | 53.1 | 56.3 | 57.0 | 61.3 | 474.8 | |||||||
| - Group4 | 13.3 | 74.2 | 95.1 | 95.6 | 105.0 | 112.8 | 114.4 | 117.8 | 117.0 | 124.3 | 128.0 | 127.7 | 1,225.2 | |||||||
| Opening accounts receivable | 135.0 | 100.0 | 50.0 | 285.0 | ||||||||||||||||
| 1.0 | 172.3 | 309.1 | 328.0 | 299.6 | 334.3 | 330.7 | 373.2 | 381.6 | 409.4 | 440.6 | 449.8 | 460.4 | 4,288.9 | |||||||
| Note 2 | 1.0 | |||||||||||||||||||
| Materials/goods accounts payable: | 1.0 | |||||||||||||||||||
| - Group1 | 8.6 | 32.0 | 39.3 | 41.0 | 46.4 | 41.8 | 55.8 | 46.4 | 58.6 | 63.1 | 61.2 | 60.8 | 555.2 | |||||||
| - Group2 | 3.1 | 15.0 | 28.3 | 33.8 | 35.1 | 34.8 | 41.7 | 45.5 | 49.7 | 51.0 | 51.5 | 55.4 | 444.7 | |||||||
| - Group3 | 1.4 | 6.8 | 12.8 | 15.3 | 15.9 | 15.8 | 18.9 | 20.7 | 22.5 | 23.1 | 23.3 | 25.1 | 201.8 | |||||||
| - Group4 | 6.1 | 24.3 | 33.2 | 32.7 | 38.2 | 40.5 | 40.2 | 41.3 | 40.9 | 44.7 | 44.6 | 45.1 | 431.8 | |||||||
| Opening accounts payable | 95.0 | 75.0 | 40.0 | 210.0 | ||||||||||||||||
| 1.0 | 114.2 | 153.0 | 153.7 | 122.8 | 135.6 | 132.9 | 156.7 | 153.9 | 171.7 | 181.9 | 180.7 | 186.4 | 1,843.6 | |||||||
| Note 3 | 1.0 | |||||||||||||||||||
| Direct cost payments: | 1.0 | |||||||||||||||||||
| -Wages and salaries (direct) | 6.6 | 7.3 | 7.9 | 8.6 | 9.2 | 9.9 | 10.6 | 11.2 | 11.9 | 12.5 | 13.2 | 13.9 | 122.8 | |||||||
| -Payroll taxes/benefits (direct) | 4.4 | 4.8 | 5.3 | 5.7 | 6.2 | 6.6 | 7.0 | 7.5 | 7.9 | 8.4 | 8.8 | 9.2 | 72.6 | |||||||
| -Energy (variable) | 12.5 | 12.5 | 12.5 | 15.0 | 15.0 | 17.5 | 17.5 | 17.5 | 17.5 | 20.0 | 157.5 | |||||||||
| -Repairs/maintenance (variable) | 15.0 | 15.0 | 15.0 | 17.5 | 17.5 | 20.0 | 20.0 | 20.0 | 20.0 | 22.5 | 22.5 | 205.0 | ||||||||
| -Subcontract | ||||||||||||||||||||
| -Consumables A | ||||||||||||||||||||
| -Consumables B | ||||||||||||||||||||
| -Consumables C | ||||||||||||||||||||
| 1.0 | 6.6 | 26.7 | 40.3 | 41.4 | 45.0 | 48.6 | 52.2 | 55.8 | 56.9 | 58.0 | 61.6 | 65.2 | 557.9 | |||||||
| Note 4 | 1.0 | |||||||||||||||||||
| Overhead expense payments: | ||||||||||||||||||||