Question
Year ($million) 31st Mar. 2020 (Actual) 31st Mar. 2021 (Forecast) 31st Mar. 2022 (Forecast) Income Statement Sales of Properties 420.0 475.0 450.0 Rental Income 200.0
Year ($million) | 31st Mar. 2020 (Actual) | 31st Mar. 2021 (Forecast) | 31st Mar. 2022 (Forecast) | |
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Income Statement |
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Sales of Properties | 420.0 | 475.0 | 450.0 | |
Rental Income | 200.0 | 205.0 | 262.0 | |
Dividends Received (investment of listed shares) | 20.0 | 22.0 | 20.0 | |
Impairment of Properties in Development | -18.0 | -59.0 | -32.0 | |
Operating Costs | -400.0 | -412.0 | -423.0 | |
EBITDA | 222.0 | 231.0 | 277.0 | |
Depreciation | -120.0 | -130.0 | -140.0 | |
EBIT | 102.0 | 101.0 | 137.0 | |
Net Interest | -14.0 | -12.6 | -14.3 | |
Pre-Tax Profit | 88.0 | 88.4 | 122.7 | |
Tax | -26.4 | -26.5 | -36.8 | |
Net Profit | 61.6 | 61.9 | 85.9 | |
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Balance Sheet |
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Assets |
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PPE | 380.0 | 400.0 | 435.0 | |
Inventory, Debtors & Operating Cash | 340.0 | 330.0 | 355.0 | |
Other Investments | 200.0 | 200.0 | 200.0 | |
Total Assets | 920.0 | 930.0 | 990.0 | |
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Funding |
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Debt (Note: Trading at par) | 180.0 | 128.1 | 102.2 | |
Creditors | 150.0 | 160.0 | 170.0 | |
Ordinary Equity | 590.0 | 641.9 | 717.8 | |
Total Funding | 920.0 | 930.0 | 990.0 | |
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Shares on Issue | Million |
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Opening Number of Shares | 100.0 |
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Shares Issued on 30 June 2019 | 20.0 |
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Closing Number of Shares | 120.0 |
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Additional information: |
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Number of issued shares | 120 million |
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Share price | $4.23 |
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Equity Beta | 0.90 |
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Equity Risk Premium | 5.0% |
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Risk-Free Rate Proxy | 3.0% |
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Implied Interest Rate | 7.8% | (based on 2020 year end debt and interest expense) | ||
XGG Corp. Bond Market Yield | 4.7% | (publicly listed) | ||
Tax rate | 30% |
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Capital structure | Currently at long-term target | |||
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Simplifying conventions: | All cash flows occur as at year-end | |||
| Tax rate of 30% applies to all income | |||
| All ratios to be estimated based on year-end values |
Q1: Whats the companys NOPLAT for financial year end 2022?
Q2: Whats the companys Operating Invested Capital for financial year end 2022?
Q3: Whats the companys Capex for financial year end 2022?
Q4: Whats the companys Capital Turnover for financial year end 2022?
Q5: Whats the companys cost of equity (rounded to two decimal places)?
Q6: Whats the companys target capital structure, or debt to equity ratio D/E (rounded to two decimal places)?
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