Phuket Doll New Heritage Doll Company

Topics: 2010s, Years in the future Pages: 12 (1179 words) Published: April 12, 2015
Exhibit
 1

Selected
 Operating
 Projections
 for
 Match
 My
 Doll
 Clothing
 Line
 Expansion
2010

Revenue
Revenue
 Growth
Production
 Costs
Fixed
 Production
 Expense
 (excl
 depreciation)
Variable
 Production
 Costs
Depreciation
Total
 Production
 Costs
Selling,
 General
 &
 Administrative
Total
 Operating
 Expenses
Operating
 Profit

2011
4,500.00

2012
6,860.00
52.44%

0.00
1,250.00

575.00
2,035.00
152.20
2,762.20
1,155.00

575.00
3,403.80
152.20
4,131.00
1,735.00

1,250.00
-­‐1,250.00

3,917.20
582.80

5,866.00
994.00

3.0%
59.2x
7.7x
30.8x

3.0%
59.2x
8.3x
30.9x

952.20

152.20

2010

2011

2012

800.00
-­‐800.00

135.00
76.05
359.66
127.35
443.37
356.63

205.80
115.94
500.12
189.84
632.02
-­‐188.65

-­‐1,250.00
0.00
-­‐1,250.00

582.80
233.12
349.68
152.20
501.88

994.00
397.60
596.40
152.20
748.60

-­‐1,250.00
-­‐800.00
-­‐1,470.00

501.88
356.63
-­‐952.20

748.60
-­‐188.65
-­‐152.20

Working
 Capital
 Assumptions:
Minimum
 Cash
 Balance
 as
 %
 of
 Sales
Days
 Sales
 Outstanding
Inventory
 Turnover
 (prod.
 cost/ending
 inv.)
Days
 Payable
 Outstanding
 (based
 on
 tot.
 op.
 exp.)
Capital
 Expenditures

Net
 Working
 Capital
 (NWC)
Minimum
 Cash
 Balance
Accounts
 Receivables
Inventory
Payables
Total
 NWC
Change
 in
 NWC
Operating
 Cash
 Flow
 (OCF)
EBIT
Tax
 (40%
 Corporate
 Rate)
Earning
 After
 Tax
Depreciation
Total
 OCF
Free
 Cash
 Flow
 (FCF)
OCF
Change
 in
 NWC
Capital
 Expenditure

1,470.00

-­‐1,250.00

Tax
 Benefit
 (40%
 of
 R&D
 and
 Marketing
 Expenditures
 from
 table
 2)
Total
 FCF
-­‐3,520.00

500.00

406.31

407.75

Terminal
 Value
 (TV)
 at
 low
 risk
Cash
 Flow
 After
 TV
 at
 low
 risk
Net
 Cash
 Flow

-­‐3,520.00

406.31
-­‐3,113.69

407.75
-­‐2,705.94

Terminal
 Value
 (TV)
 at
 medium
 risk
Cash
 Flow
 After
 TV
 at
 medium
 risk
New
 Cash
 Flow

-­‐3,520.00

406.31
-­‐3,113.69

407.75
-­‐2,705.94

-­‐3,520.00

406.31
-­‐3,113.69

407.75
-­‐2,705.94

Terminal
 Value
 (TV)
 at
 high
 risk
Cash
 Flow
 After
 TV
 at
 high
 risk

Net
 Cash
 Flow
Risk
 level
Bajo
 
Medio
Alto

Exhibit
 2

Rate
7.7%
8.4%
9.0%

NPV
9304.57
7782.97
6724.72

Payback
 Period
5.85
5.85
5.85

IRR
27.56%
26.63%
25.94%

Selected
 Operating
 Projections
 for
 Design
 Your
 Own
 Doll
2010
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