Prerequites

*Risk-free interest rate

*tax rate
Revenue model
Advertisement
Units
5,000.00 Big
yoy % change
3,000.00 Medium
yoy % change
1,000.00 Small
yoy % change
Units of advertisements
Revenue from adverisements
yoy % change

0
200.00
1,000,000.00
500.00
800.00
1,500.00
3,300,000.00

1
2
210.00
220.50
5%
5%
1,050,000.00 1,102,500.00
550.00
605.00
10%
10%
864.00
933.12
8%
8%
1,624.00
1,758.62
3,564,000.00 3,850,620.00
7.4%
7.4%

Income Statement
Revenue
COGS
Gross margin
Gross profit
Operating expenses
Operating margin
EBITDA
Depreciation
****
EBIT
3.50% Interest
35% Tax (35%)
Net Income

0
3,300,000

1
3,564,000

2
3,850,620

1,000,000
70%
2,300,000
1,610,000
30%
690,000
20,000

1,069,200
70%
2,494,800
1,746,360
30%
748,440
25,000

1,155,186
70%
2,695,434
1,886,804
30%
808,630
23,000

670,000
3,500
233,275
433,225

723,440
3,500
251,979
467,961

785,630
3,500
273,746
508,385

0
433,225

1
467,961

2
508,385

20,000
0
20,000

25,000
0
25,000

23,000
0
23,000

CFS
Net Income
CFO
Depreciation
Change in NWC
Cash Inflow (Outflow) from operating activities
CFI
Capex

Cash Inflow (Outflow) from investing activities

CFF
Loan (5-year, 3.5%)
Loan repayments
Cash Inflow (Outflow) from financing activities

100000

-20000
-20000

-20000
-20000

553,225

472,961

511,385

100000

Cash Inflow (Outflow) for the year

Incremental cash flow of the year

Cash Inflow (Outflow) for the year

800,000
600,000
400,000
200,000
0
(200,000)
(400,000)
(600,000)
(800,000)

Initial Investment Schedule

Units
3
4
5
231.53
243.10
255.26
5%
5%
5%
1,157,625.00 1,215,506.25 1,276,281.56
665.50
732.05
805.26
10%
10%
10%
1,045.09
1,149.60
1,264.56
12%
10%
10%
1,942.12
2,124.76
2,325.08
4,199,219.40 4,561,260.09 4,956,610.79
8.3%
7.9%
8.0%

Cost of acquiring land

Fixtures
Decoration

1000
1000
1000

Cost to be capitalized

3000

Debt Schedule
3
4,199,219

4
4,561,260

5
4,956,611

1,259,766
70%
2,939,454
2,057,618
30%
881,836
25,000

1,368,378
70%
3,192,882
2,235,017
30%
957,865
20,000

1,486,983
70%
3,469,628
2,428,739
30%
1,040,888
15,000

856,836
3,500
298,668
554,668

937,865
3,500
327,028
607,337

1,025,888
3,500
357,836
664,552

3
554,668

4
607,337

5
664,552

25,000
0
25,000

20,000
0
20,000

15,000
0
15,000

-100000

Loan
Repayment
3.50% interest payment

6,000,000
5,000,000
4,000,000

0
100000
3500

Revenue and Net Income

4,561,260
4,199,219
3,850,620
3,564,000
3,300,000

*Debt Tax Shield

3,000,000
2,000,000
1,000,000

433,225 467,961 508,385 554,668

607,337

0
1

-100000

-20000
-20000

-20000
-20000

-30000
-30000

459,668

(607,337)

649,552

-20000
2922.5

-20000
2222.5

-20000
2922.5

and Net Income

4,956,611
4,561,260

Net Income
Revenue
Linear (Revenue)
664,552
607,337

4
-20000
2922.5