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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)

Income Statement

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

Balance Sheet

Assets

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

Funding

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

Shares on Issue

Million

Opening Number of Shares

100.0

Shares Issued on 30 June 2019

20.0

Closing Number of Shares

120.0

Additional information:

Number of issued shares

120 million

Share price

$4.23

Equity Beta

0.90

Equity Risk Premium

5.0%

Risk-Free Rate Proxy

3.0%

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%

Capital structure

Currently at long-term target

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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