Project Palm Financial Model v2.xlsx

	B	C	D	E	F	G	H	I	J	K	L	M	N	O	P
1	Project Palm
2	Assumptions Page
3
4					0	1	2	3	4	5	6	7	8	9	10
5				Comments
6
7	General Assumptions
8		Number of days in a year	365
9		Number of months in a year	12
10		Number of days in a month	30
11		Number of quarters in a year	4
12		Number of months in a quarter	3
13		Number of hours in a day	24
14		Current year	2013
15
16	Macro Economic Assumptions
17		Inflation rate (Local Currency)	9%	IMF	9.0%	8.2%	7.0%	7.0%	7.0%	7.0%	7.0%	7.0%	7.0%	7.0%	7.0%
18		Adjusted Inflation (USD)	4%	Bloomberg	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%	4.0%
19		Naira/USD Exchange Rate	160	CBN	160.00	166.40	173.06	179.98	187.18	194.66	202.45	210.55	218.97	227.73	236.84
20		Company Income tax rate:
21		Corporate Tax Rate	30%	CITA Act
22		Education Tax Rate	2%	CITA Act
23			32%		32%	32%	32%	32%	32%	32%	32%	32%	32%	32%	32%
24		Annual GDP growth rate	6%
25
26	Timing
27		Model Start Date	1-May-13
28
29		Fund Raising
30		Start	1-May-13
31		Duration (months)	4
32		End	31-Aug-13
33
39		Operations
40		Start	1-Mar-16
41		Duration (years)	10
42		End	28-Feb-26
43
44	Operating Assumptions
45		Revenue Assumptions
46		Seeds:
47		Sales Target/month	500.00			500.00	525.00	551.25	578.81	607.75	638.14	670.05	703.55	738.73	775.66
48		Price Per Metric tonne (M/T)	50,000.00	BioFeeds Report		300,000,000.00	315,000,000.00	330,750,000.00	347,287,500.00	364,651,875.00	382,884,468.75	402,028,692.19	422,130,126.80	443,236,633.14	465,398,464.79
49		Sales Growth rate	5%
50
51		Shells:
52		Sales Target/month	500.00			500.00	525.00	551.25	578.81	607.75	638.14	670.05	703.55	738.73	775.66
53		Price Per Metric tonne (M/T)	18,800.00	BioFeeds Report		300,000,000.00	315,000,000.00	330,750,000.00	347,287,500.00	364,651,875.00	382,884,468.75	402,028,692.19	422,130,126.80	443,236,633.14	465,398,464.79
54		Sales Growth rate	5%
55
56		Operating Expenditure Assumptions
57		Direct Costs
58		Seeds:
59		Price Per Metric tonne (M/T)	45,000.00	BioFeeds Report		270,000,000.00	283,500,000.00	297,675,000.00	312,558,750.00	328,186,687.50	344,596,021.88	361,825,822.97	379,917,114.12	398,912,969.82	418,858,618.31
60
61		Shells:
62		Price Per Metric tonne (M/T)	12,000.00	BioFeeds Report		72,000,000.00	75,600,000.00	79,380,000.00	83,349,000.00	87,516,450.00	91,892,272.50	96,486,886.13	101,311,230.43	106,376,791.95	111,695,631.55
63
64		Admin,Selling & Distribution Exp	20,000,000
65		Insurance Warehouse+ Building	0.40%
66		Insurance Other Assets	3%
67		Working Capital (Months)	4	OPEX
68		Contingencies	5%	of Total Cost
69
70		Taxation
71		Tax Holiday (years)	5
72		Tax Holiday Expiration		Starts from year of operations
73
74	Capital Expenditure (CAPEX)
75		Warehouse + Processing Equipments
76		Agricultural Land	-	25,000,000
77		Cracking Machines	5.00	3,200,000
78		Drying Machines	2.00	1,920,000
79		Warehouse + Building	2.00	10,000,000
80		Trailers	1.00	13,500,000
81		Briquetting Machines	2.00	2,400,000
82
83		Warehouse + Processing Equipments (Total Costs)
84		Agricultural Land	25,000,000.00
85		Cracking Machines	16,000,000.00
86		Drying Machines	3,840,000.00
87		Warehouse + Building	20,000,000.00
88		Trailers	13,500,000.00
89		Briquetting Machines	4,800,000.00
90
91		Depreciation Rates (%)
92		Land	0%
93		Cracking Machines	10%
94		Drying Machines	10%
95		Warehouse + Building	4%
96		Trailers	20%
97		Briquetting Machines	10%
98
99		TOTAL - PROJECT COSTS	102,877,333.33
100
101	Financing Assumptions
102		Financing Mix
103		Equity	30%
104		Debt	70%
105		Total	100%