Re Teh d.o.o.

Edo Seifried
edo.seifried@reteh.com

Academic Version

Table of Contents

Academic Version

Re Teh d.o.o.

Table: Start-up
Start-up
Requirements
Start-up Expenses
legal fees for establising the bussines
Layer fees
Public notary fee
Office rent
Funding capital
Car loan
Stationery, forms, etc.
Total Start-up Expenses

$1.000
$500
$300
$900
$3.000
$6.300
$500
$12.500

Start-up Assets
Cash Required
Start-up Inventory
Other Current Assets
Long-term Assets
Total Assets

$1.000
$10.000
$600
$0
$11.600

Total Requirements

$24.100

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Re Teh d.o.o.

Table: Market Analysis

Market Analysis
Potential Customers
Marine
Mobile
Solar
Consultancy
Other
Total

Growth
20%
10%
50%
5%
5%
-100,00%

2010

2011

2012

2013

2014

15
3
10
2
1
31

0
0
0
0
0
0

0
0
0
0
0
0

0
0
0
0
0
0

0
0
0
0
0
0

Academic Version

CAGR
-100,00%
-100,00%
-100,00%
-100,00%
-100,00%
-100,00%

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Re Teh d.o.o.
Table: Sales Forecast
Sales Forecast
FY 2011

FY 2012

FY 2013

Sales
1st tier partner
2nd tier partner
OEM
Goverment
Local goverment
Project offices
End buyer- Solar
Total Sales

$177.302
$50.738
$23.666
$243.116
$15.000
$3.000
$24.000
$536.822

$250.000
$50.000
$35.000
$300.000
$20.000
$10.000
$17.000
$682.000

$300.000
$60.000
$40.000
$400.000
$25.000
$15.000
$18.000
$858.000

Direct Cost of Sales

Mastervolt
Reteh
promotions
Subtotal Direct Cost of Sales

FY 2011
$219.960
$205.162
$16.969
$442.091

FY 2012
$258.000
$240.000
$20.000
$518.000

FY 2013
$308.000
$350.000
$20.000
$678.000

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Re Teh d.o.o.

Table: Personnel
Personnel Plan

Total People

FY 2011
$15.799
$0
2

FY 2012
$20.000
$0
2

FY 2013
$25.000
$0
2

Total Payroll

$15.799

$20.000

$25.000

Edo Seifried

Academic Version

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Re Teh d.o.o.
Table: Start-up Funding
Start-up Funding
Start-up Expenses to Fund
Start-up Assets to Fund
Total Funding Required

$12.500
$11.600
$24.100

Assets
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Total Assets

$10.600
$1.000
$110.325
$111.325
$121.925

Liabilities and Capital

Liabilities
Current Borrowing
Long-term Liabilities
Accounts Payable (Outstanding Bills)
Other Current Liabilities (interest-free)
Total Liabilities

$800
$50.000
$1.000
$2.000
$53.800

Capital
Planned Investment
Personal Investment
Other
Additional Investment Requirement
Total Planned Investment

$80.625
$0
$0
$80.625

Loss at Start-up (Start-up Expenses)

Total Capital

($12.500)
$68.125

Total Capital and Liabilities

$121.925

Total Funding

$134.425

Table: Break-even Analysis

Break-even Analysis
Monthly Revenue Break-even

$23.754

Assumptions:
Average Percent Variable Cost
Estimated Monthly Fixed Cost

82%
$4.192

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Re Teh d.o.o.

Table: Profit and Loss

Pro Forma Profit and Loss
FY 2011
$536.822
$442.091
$12.000
-----------$454.091

FY 2012
$682.000
$518.000
$15.000
-----------$533.000

FY 2013
$858.000
$678.000
$18.000
-----------$696.000

$82.731
15,41%

$149.000
21,85%

$162.000
18,88%

$15.799

$20.000

$25.000

$13.404

$15.734

$18.489

$3.062
$1.200
$2.400
$360
$1.440
$3.600
$0
$5.400
$3.636
-----------$50.300

$2.800
$1.500
$2.400
$360
$1.500
$4.000
$0
$5.952
$4.000
-----------$58.246

$2.600
$1.500
$2.400
$360
$1.800
$5.000
$0
$9.902
$4.000
-----------$71.051

Profit Before Interest and Taxes

EBITDA
Interest Expense
Taxes Incurred

$32.431
$35.492
$5.080
$6.450

$90.754
$93.554
$5.080
$21.419

$90.949
$93.549
$5.080
$21.825

Net Profit
Net Profit/Sales

$20.901
3,89%

$64.256
9,42%

$64.044
7,46%

Sales
Direct Costs of Goods
Unknown
Cost of Goods Sold
Gross Margin
Gross Margin %

Expenses
Payroll
Sales and Marketing and Other
Expenses
Depreciation
Office Supplies
Utilities
Security/alarm
Insurance
Rent
Leased Equipment
Payroll Taxes
Other
Total Operating Expenses

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Re Teh d.o.o.

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Re Teh d.o.o.

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Re Teh d.o.o.
Table: Cash Flow
Pro Forma Cash Flow
FY 2011

FY 2012

FY 2013

$402.617
$127.856
$530.472

$511.500
$168.783
$680.283

$643.500
$212.418
$855.918

$0

$0

$0

$0
$0
$0
$0
$0
$0
$530.472

$0
$0
$0
$0
$0
$0
$680.283

$0
$0
$0
$0
$0
$0
$855.918

FY 2011

FY 2012

FY 2013

$15.799
$510.852
$526.651

$20.000
$598.849
$618.849

$25.000
$774.862
$799.862

$0

$0

$0

$0

$0

$0

$0

$0

$0

Cash Received
Cash from Operations
Cash Sales
Cash from Receivables
Subtotal Cash from Operations
Additional Cash Received
Sales Tax, VAT, HST/GST
Received
New Current Borrowing
New Other Liabilities (interest-free)
New Long-term Liabilities
Sales of Other Current Assets
Sales of Long-term Assets
New Investment Received
Subtotal Cash Received
Expenditures
Expenditures from Operations
Cash Spending
Bill Payments
Subtotal Spent on Operations
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out
Principal Repayment of Current
Borrowing
Other Liabilities Principal
Repayment
Long-term Liabilities Principal
Repayment
Purchase Other Current Assets
Purchase Long-term Assets
Dividends
Subtotal Cash Spent

$0

$0

$0

$0
$0
$0
$526.651

$0
$0
$0
$618.849

$0
$0
$0
$799.862

Net Cash Flow

Cash Balance

$3.821
$115.146

$61.434
$176.580

$56.056
$232.635

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Re Teh d.o.o.
Table: Balance Sheet
Pro Forma Balance Sheet
FY 2011

FY 2012

FY 2013

Current Assets
Cash
Accounts Receivable
Inventory
Other Current Assets
Total Current Assets

$115.146
$6.350
$43.915
$600
$166.011

$176.580
$8.067
$51.455
$600
$236.702

$232.635
$10.149
$67.349
$600
$310.734

Long-term Assets
Long-term Assets
Accumulated Depreciation
Total Long-term Assets
Total Assets

$0
$3.062
($3.062)
$162.949

$0
$5.862
($5.862)
$230.841

$0
$8.462
($8.462)
$302.272

Liabilities and Capital

FY 2011

FY 2012

FY 2013

Current Liabilities
Accounts Payable
Current Borrowing
Other Current Liabilities
Subtotal Current Liabilities

$21.124
$800
$2.000
$23.924

$24.760
$800
$2.000
$27.560

$32.147
$800
$2.000
$34.947

Long-term Liabilities
Total Liabilities

$50.000
$73.924

$50.000
$77.560

$50.000
$84.947

$80.625
($12.500)
$20.901
$89.026
$162.949

$80.625
$8.401
$64.256
$153.281
$230.841

$80.625
$72.656
$64.044
$217.325
$302.272

$89.026

$153.281

$217.325

Assets

Paid-in Capital
Retained Earnings
Earnings
Total Capital
Total Liabilities and Capital
Net Worth

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Re Teh d.o.o.
Table: Ratios
Ratio Analysis
Sales Growth

FY 2011
0,00%

FY 2012
27,04%

FY 2013
25,81%

Industry Profile
4,90%

Percent of Total Assets

Accounts Receivable
Inventory
Other Current Assets
Total Current Assets
Long-term Assets
Total Assets

3,90%
26,95%
0,37%
101,88%
-1,88%
100,00%

3,49%
22,29%
0,26%
102,54%
-2,54%
100,00%

3,36%
22,28%
0,20%
102,80%
-2,80%
100,00%

14,50%
47,50%
14,40%
76,40%
23,60%
100,00%

14,68%
30,68%
45,37%
54,63%

11,94%
21,66%
33,60%
66,40%

11,56%
16,54%
28,10%
71,90%

39,20%
15,50%
54,70%
45,30%

100,00%
15,41%

100,00%
21,85%

100,00%
18,88%

100,00%
32,00%

23,41%

23,06%

24,10%

19,60%

0,49%
6,04%

0,50%
13,31%

0,50%
10,60%

1,40%
1,50%

6,94
5,10
45,37%
30,72%
16,78%

8,59
6,72
33,60%
55,89%
37,11%

8,89
6,96
28,10%
39,51%
28,41%

2,03
0,59
54,70%
3,50%
7,60%

FY 2011
3,89%
23,48%

FY 2012
9,42%
41,92%

FY 2013
7,46%
29,47%

n.a
n.a

21,13
14
10,80
25,14
13
3,29

21,13
15
10,86
24,33
14
2,95

21,13
15
11,41
24,33
13
2,84

n.a
n.a
n.a
n.a
n.a
n.a

0,83
0,32

0,51
0,36

0,39
0,41

n.a
n.a

$142.087
6,38

$209.143
17,86

$275.786
17,90

n.a
n.a

0,30
15%
4,84
6,03
0,00

0,34
12%
6,43
4,45
0,00

0,35
12%
6,67
3,95
0,00

n.a
n.a
n.a
n.a
n.a

Current Liabilities
Long-term Liabilities
Total Liabilities
Net Worth
Percent of Sales
Sales
Gross Margin
Selling, General & Administrative
Expenses
Advertising Expenses
Profit Before Interest and Taxes
Main Ratios
Current
Quick
Total Debt to Total Assets
Pre-tax Return on Net Worth
Pre-tax Return on Assets
Additional Ratios
Net Profit Margin
Return on Equity
Activity Ratios
Accounts Receivable Turnover
Collection Days
Inventory Turnover
Accounts Payable Turnover
Payment Days
Total Asset Turnover
Debt Ratios
Debt to Net Worth
Current Liab. to Liab.
Liquidity Ratios
Net Working Capital
Interest Coverage
Additional Ratios
Assets to Sales
Current Debt/Total Assets
Acid Test
Sales/Net Worth
Dividend Payout

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