Rencana Bisnis Pabrik Roti

Cover Page

Legal PageConfidentiality Agreement

The undersigned reader acknowledges that the information provided by _______________ in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of _______________.

It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious harm or damage to _______________.

Upon request, this document is to be immediately returned to _______________.

___________________ Signature

___________________Name (typed or printed)

___________________Date

This is a business plan. It does not imply an offering of securities.

Rencana Bisnis Pabrik Roti

Start-up

Requirements

Start-up Expenses

Legal Rp. 10.000.000 ATK Rp. 500.000 Komputer & Peralatan Kantor Rp. 5.000.000 Ops Pengembangan Jaringan Distributor Rp. 2.000.000 Ops Pelatihan & Uji Coba Produksi Rp. 3.000.000 Ops Pengembangan Desain Produk Rp. 2.000.000 Ops Kantor Pra Produksi Rp. 2.500.000 Total Start-up Expenses Rp. 25.000.000

Start-up Assets

Cash Required Rp. 70.000.000 Start-up Inventory Rp. 70.000.000 Other Current Assets Rp. 200.000.000 Long-term Assets Rp. 400.000.000 Total Assets Rp. 740.000.000

Total Requirements Rp. 765.000.000

Page 1

Sales

Gross Margin

Net Profit

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Year 1 Year 2 Year 3

Highlights

Rencana Bisnis Pabrik Roti

Sales Forecast

Year 1 Year 2 Year 3

Unit Sales

Roti Isi 540.000 720.000 1.080.000 Roti Tawar 217.500 360.000 540.000 Row 3 0 0 0 Total Unit Sales 757.500 1.080.000 1.620.000

Unit Prices Year 1 Year 2 Year 3Roti Isi Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Roti Tawar Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Row 3 Rp. 0,00 Rp. 0,00 Rp. 0,00

Sales

Roti Isi Rp. 810.000.000 Rp. 1.080.000.000 Rp. 1.620.000.000 Roti Tawar Rp. 1.957.500.000 Rp. 3.240.000.000 Rp. 4.860.000.000 Row 3 Rp. 0 Rp. 0 Rp. 0 Total Sales Rp. 2.767.500.000 Rp. 4.320.000.000 Rp. 6.480.000.000

Direct Unit Costs Year 1 Year 2 Year 3Roti Isi Rp. 525,00 Rp. 525,00 Rp. 525,00 Roti Tawar Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Row 3 Rp. 0,00 Rp. 0,00 Rp. 0,00

Direct Cost of Sales

Roti Isi Rp. 283.500.000 Rp. 378.000.000 Rp. 567.000.000 Roti Tawar Rp. 587.250.000 Rp. 972.000.000 Rp. 1.458.000.000 Row 3 Rp. 0 Rp. 0 Rp. 0 Subtotal Direct Cost of Sales Rp. 870.750.000 Rp. 1.350.000.000 Rp. 2.025.000.000

Page 2

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Expenses Assets Investment Loans

Start-up

Rencana Bisnis Pabrik Roti

Personnel Plan

Year 1 Year 2 Year 3

Manajer Rp. 24.000.000 Rp. 30.000.000 Rp. 37.500.000 Keuangan Rp. 21.000.000 Rp. 26.250.000 Rp. 32.812.500 Koordinator Produksi (Baker) Rp. 14.400.000 Rp. 18.000.000 Rp. 22.500.000 Koordinator Penjualan (Sales Leader) Rp. 14.400.000 Rp. 18.000.000 Rp. 22.500.000 Staff Produksi (Helper) Rp. 9.600.000 Rp. 12.000.000 Rp. 18.000.000 Staff Produksi (Helper) Rp. 9.600.000 Rp. 12.000.000 Rp. 18.000.000 Staff Pengemasan (Packaging) Rp. 9.600.000 Rp. 12.000.000 Rp. 18.000.000

Page 3

Roti Isi

Roti Tawar

Row 3

Rp, 0000

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Mon

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Mon

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Mon

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Mon

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Sales Monthly

Roti Isi

Roti Tawar

Row 3

Rp, 0000

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Rp5000000000, 0000

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Year 1 Year 2 Year 3

Sales by Year

Rencana Bisnis Pabrik Roti

Staff Pengemasan (Packaging) Rp. 9.600.000 Rp. 12.000.000 Rp. 18.000.000 Staff Penjualan (Distributor Canvas) Rp. 9.600.000 Rp. 12.000.000 Rp. 18.000.000 Total People 9 9 9

Total Payroll Rp. 121.800.000 Rp. 152.250.000 Rp. 205.312.500

Start-up Funding

Start-up Expenses to Fund Rp. 25.000.000 Start-up Assets to Fund Rp. 740.000.000 Total Funding Required Rp. 765.000.000

Assets

Non-cash Assets from Start-up Rp. 670.000.000 Cash Requirements from Start-up Rp. 70.000.000 Additional Cash Raised Rp. 0 Cash Balance on Starting Date Rp. 70.000.000 Total Assets Rp. 740.000.000

Liabilities and Capital

Liabilities

Current Borrowing Rp. 0 Long-term Liabilities Rp. 150.000.000 Accounts Payable (Outstanding Bills) Rp. 0 Other Current Liabilities (interest-free) Rp. 0 Total Liabilities Rp. 150.000.000

Capital

Planned Investment

Owner Rp. 400.000.000 Investor Rp. 215.000.000 Additional Investment Requirement Rp. 0 Total Planned Investment Rp. 615.000.000

Loss at Start-up (Start-up Expenses) (Rp. 25.000.000)Total Capital Rp. 590.000.000

Total Capital and Liabilities Rp. 740.000.000

Total Funding Rp. 765.000.000

Break-even Analysis

Monthly Units Break-even 14.490 Monthly Revenue Break-even Rp. 52.937.055

Assumptions:

Average Per-Unit Revenue Rp. 3.653,47 Average Per-Unit Variable Cost Rp. 1.149,50 Estimated Monthly Fixed Cost Rp. 36.281.250

Pro Forma Profit and Loss

Year 1 Year 2 Year 3

Sales Rp. 2.767.500.000 Rp. 4.320.000.000 Rp. 6.480.000.000 Direct Cost of Sales Rp. 870.750.000 Rp. 1.350.000.000 Rp. 2.025.000.000 Wholesales Discount Rp. 968.625.000 Rp. 1.512.000.000 Rp. 2.268.000.000 Working Incentive Rp. 108.900.000 Rp. 216.000.000 Rp. 324.000.000 Total Cost of Sales Rp. 1.948.275.000 Rp. 3.078.000.000 Rp. 4.617.000.000

Page 4

Rencana Bisnis Pabrik Roti

Gross Margin Rp. 819.225.000 Rp. 1.242.000.000 Rp. 1.863.000.000 Gross Margin % 29,60% 28,75% 28,75%

Expenses

Payroll Rp. 121.800.000 Rp. 152.250.000 Rp. 205.312.500 Marketing/Promotion Rp. 0 Rp. 0 Rp. 0 Depreciation Rp. 15.000.000 Rp. 15.000.000 Rp. 15.000.000 Sewa Tempat Rp. 36.000.000 Rp. 39.600.000 Rp. 43.560.000 Armada Transportasi Rp. 110.700.000 Rp. 127.305.000 Rp. 146.400.750 Utilitas Rp. 138.375.000 Rp. 159.131.250 Rp. 183.000.938 ATK & Operasi Harian Rp. 13.500.000 Rp. 15.525.000 Rp. 17.853.750 Payroll Taxes Rp. 0 Rp. 0 Rp. 0 Lain-lain Rp. 0 Rp. 0 Rp. 0

Total Operating Expenses Rp. 435.375.000 Rp. 508.811.250 Rp. 611.127.938

Profit Before Interest and Taxes Rp. 383.850.000 Rp. 733.188.750 Rp. 1.251.872.063 EBITDA Rp. 398.850.000 Rp. 748.188.750 Rp. 1.266.872.063 Interest Expense Rp. 23.313.000 Rp. 14.136.000 Rp. 4.560.000 Taxes Incurred Rp. 0 Rp. 0 Rp. 0

Net Profit Rp. 360.537.000 Rp. 719.052.750 Rp. 1.247.312.063 Net Profit/Sales 13,03% 16,64% 19,25%

Page 5

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Rp50000000, 0000

Month 1 Month 2

Month 3 Month 4

Month 5 Month 6

Month 7 Month 8

Month 9 Month 10

Month 11 Month 12

Profit Monthly

Rencana Bisnis Pabrik Roti

Pro Forma Cash Flow

Year 1 Year 2 Year 3

Cash Received

Cash from Operations

Cash Sales Rp. 2.767.500.000 Rp. 4.320.000.000 Rp. 6.480.000.000 Subtotal Cash from Operations Rp. 2.767.500.000 Rp. 4.320.000.000 Rp. 6.480.000.000

Page 6

Rp, 0000

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Year 1 Year 2 Year 3

Profit Yearly

Net Cash Flow

Cash Balance

Rp, 0000

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Mon

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Mon

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Cash

Rencana Bisnis Pabrik Roti

Additional Cash Received

Sales Tax, VAT, HST/GST Received Rp. 0 Rp. 0 Rp. 0 New Current Borrowing Rp. 0 Rp. 0 Rp. 0 New Other Liabilities (interest-free) Rp. 0 Rp. 0 Rp. 0 New Long-term Liabilities Rp. 0 Rp. 0 Rp. 0 Sales of Other Current Assets Rp. 0 Rp. 0 Rp. 0 Sales of Long-term Assets Rp. 0 Rp. 0 Rp. 0 New Investment Received Rp. 0 Rp. 0 Rp. 0 Subtotal Cash Received Rp. 2.767.500.000 Rp. 4.320.000.000 Rp. 6.480.000.000

Expenditures Year 1 Year 2 Year 3

Expenditures from Operations

Cash Spending Rp. 2.546.963.000 Rp. 3.709.784.459 Rp. 5.375.100.728 Bill Payments Rp. 0 Rp. 0 Rp. 0 Subtotal Spent on Operations Rp. 2.546.963.000 Rp. 3.709.784.459 Rp. 5.375.100.728

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out Rp. 0 Rp. 0 Rp. 0 Principal Repayment of Current Borrowing Rp. 0 Rp. 0 Rp. 0 Other Liabilities Principal Repayment Rp. 0 Rp. 0 Rp. 0 Long-term Liabilities Principal Repayment Rp. 50.400.000 Rp. 50.400.000 Rp. 50.400.000 Purchase Other Current Assets Rp. 0 Rp. 0 Rp. 0 Purchase Long-term Assets Rp. 0 Rp. 0 Rp. 0 Dividends Rp. 0 Rp. 0 Rp. 0 Subtotal Cash Spent Rp. 2.597.363.000 Rp. 3.760.184.459 Rp. 5.425.500.728

Net Cash Flow Rp. 170.137.000 Rp. 559.815.541 Rp. 1.054.499.272 Cash Balance Rp. 240.137.000 Rp. 799.952.541 Rp. 1.854.451.813

Pro Forma Balance Sheet

Year 1 Year 2 Year 3

Assets

Current Assets

Cash Rp. 240.137.000 Rp. 799.952.541 Rp. 1.854.451.813 Inventory Rp. 225.000.000 Rp. 348.837.209 Rp. 506.250.000 Other Current Assets Rp. 200.000.000 Rp. 200.000.000 Rp. 200.000.000 Total Current Assets Rp. 665.137.000 Rp. 1.348.789.750 Rp. 2.560.701.813

Long-term Assets

Long-term Assets Rp. 400.000.000 Rp. 400.000.000 Rp. 400.000.000 Accumulated Depreciation Rp. 15.000.000 Rp. 30.000.000 Rp. 45.000.000 Total Long-term Assets Rp. 385.000.000 Rp. 370.000.000 Rp. 355.000.000 Total Assets Rp. 1.050.137.000 Rp. 1.718.789.750 Rp. 2.915.701.813

Liabilities and Capital Year 1 Year 2 Year 3

Current Liabilities

Accounts Payable Rp. 0 Rp. 0 Rp. 0 Current Borrowing Rp. 0 Rp. 0 Rp. 0 Other Current Liabilities Rp. 0 Rp. 0 Rp. 0 Subtotal Current Liabilities Rp. 0 Rp. 0 Rp. 0

Long-term Liabilities Rp. 99.600.000 Rp. 49.200.000 (Rp. 1.200.000)Total Liabilities Rp. 99.600.000 Rp. 49.200.000 (Rp. 1.200.000)

Paid-in Capital Rp. 615.000.000 Rp. 615.000.000 Rp. 615.000.000 Retained Earnings (Rp. 25.000.000) Rp. 335.537.000 Rp. 1.054.589.750 Earnings Rp. 360.537.000 Rp. 719.052.750 Rp. 1.247.312.063 Total Capital Rp. 950.537.000 Rp. 1.669.589.750 Rp. 2.916.901.813 Total Liabilities and Capital Rp. 1.050.137.000 Rp. 1.718.789.750 Rp. 2.915.701.813

Net Worth Rp. 950.537.000 Rp. 1.669.589.750 Rp. 2.916.901.813

Page 7

Rencana Bisnis Pabrik Roti

Ratio Analysis

Year 1 Year 2 Year 3 Industry Profile

Sales Growth n.a. 56,10% 50,00% 0,00%

Percent of Total Assets

Inventory 21,43% 20,30% 17,36% 0,00% Other Current Assets 19,05% 11,64% 6,86% 100,00% Total Current Assets 63,34% 78,47% 87,82% 100,00% Long-term Assets 36,66% 21,53% 12,18% 0,00% Total Assets 100,00% 100,00% 100,00% 100,00%

Current Liabilities 0,00% 0,00% 0,00% 0,00% Long-term Liabilities 9,48% 2,86% -0,04% 0,00% Total Liabilities 9,48% 2,86% -0,04% 0,00% Net Worth 90,52% 97,14% 100,04% 100,00%

Percent of Sales

Sales 100,00% 100,00% 100,00% 100,00% Gross Margin 29,60% 28,75% 28,75% 0,00% Selling, General & Administrative Expenses 16,57% 12,11% 9,50% 0,00% Advertising Expenses 0,00% 0,00% 0,00% 0,00% Profit Before Interest and Taxes 13,87% 16,97% 19,32% 0,00%

Main Ratios

Current 0,00 0,00 0,00 0,00 Quick 0,00 0,00 0,00 0,00 Total Debt to Total Assets 9,48% 2,86% -0,04% 0,00% Pre-tax Return on Net Worth 37,93% 43,07% 42,76% 0,00% Pre-tax Return on Assets 34,33% 41,83% 42,78% 0,00%

Additional Ratios Year 1 Year 2 Year 3

Net Profit Margin 13,03% 16,64% 19,25% n.aReturn on Equity 37,93% 43,07% 42,76% n.a

Activity Ratios

Inventory Turnover 6,00 4,71 4,74 n.aAccounts Payable Turnover 0,00 0,00 0,00 n.aPayment Days 0 0 0 n.aTotal Asset Turnover 2,64 2,51 2,22 n.a

Debt Ratios

Debt to Net Worth 0,10 0,03 -0,00 n.aCurrent Liab. to Liab. 0,00 0,00 0,00 n.a

Liquidity Ratios

Net Working Capital Rp. 665.137.000 Rp. 1.348.789.750 Rp. 2.560.701.813 n.aInterest Coverage 16,47 51,87 274,53 n.a

Additional Ratios

Assets to Sales 0,38 0,40 0,45 n.aCurrent Debt/Total Assets 0% 0% 0% n.aAcid Test 0,00 0,00 0,00 n.aSales/Net Worth 2,91 2,59 2,22 n.aDividend Payout 0,00 0,00 0,00 n.a

Page 8

Appendix

Sales Forecast

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Unit Sales

Roti Isi 30.000 30.000 30.000 40.000 40.000 40.000 50.000 50.000 50.000 60.000 60.000 60.000

Roti Tawar 7.500 7.500 7.500 15.000 15.000 15.000 20.000 20.000 20.000 30.000 30.000 30.000

Row 3 0 0 0 0 0 0 0 0 0 0 0 0

Total Unit Sales 37.500 37.500 37.500 55.000 55.000 55.000 70.000 70.000 70.000 90.000 90.000 90.000

Unit Prices Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Roti Isi Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00 Rp. 1.500,00

Roti Tawar Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00 Rp. 9.000,00

Row 3 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00

Sales

Roti Isi Rp. 45.000.000

Rp. 45.000.000 Rp. 45.000.000

Rp. 60.000.000

Rp. 60.000.000

Rp. 60.000.000

Rp. 75.000.000

Rp. 75.000.000 Rp. 75.000.000

Rp. 90.000.000

Rp. 90.000.000

Rp. 90.000.000

Roti Tawar Rp. 67.500.000

Rp. 67.500.000 Rp. 67.500.000

Rp. 135.000.000

Rp. 135.000.000

Rp. 135.000.000

Rp. 180.000.000

Rp. 180.000.000 Rp. 180.000.000

Rp. 270.000.000

Rp. 270.000.000

Rp. 270.000.000

Row 3 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Total Sales Rp. 112.500.000

Rp. 112.500.000

Rp. 112.500.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 255.000.000

Rp. 255.000.000 Rp. 255.000.000

Rp. 360.000.000

Rp. 360.000.000

Rp. 360.000.000

Direct Unit Costs Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Roti Isi 35,00% Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Rp. 525,00 Roti Tawar 30,00% Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Rp. 2.700,00 Row 3 0,00% Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00 Rp. 0,00

Direct Cost of Sales

Roti Isi Rp. 15.750.000

Rp. 15.750.000 Rp. 15.750.000

Rp. 21.000.000

Rp. 21.000.000

Rp. 21.000.000

Rp. 26.250.000

Rp. 26.250.000 Rp. 26.250.000

Rp. 31.500.000

Rp. 31.500.000

Rp. 31.500.000

Roti Tawar Rp. 20.250.000

Rp. 20.250.000 Rp. 20.250.000

Rp. 40.500.000

Rp. 40.500.000

Rp. 40.500.000

Rp. 54.000.000

Rp. 54.000.000 Rp. 54.000.000

Rp. 81.000.000

Rp. 81.000.000

Rp. 81.000.000

Row 3 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Subtotal Direct Cost of Sales Rp. 36.000.000

Rp. 36.000.000 Rp. 36.000.000

Rp. 61.500.000

Rp. 61.500.000

Rp. 61.500.000

Rp. 80.250.000

Rp. 80.250.000 Rp. 80.250.000

Rp. 112.500.000

Rp. 112.500.000

Rp. 112.500.000

Page 1

Appendix

Personnel Plan

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Manajer Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Rp. 2.000.000

Keuangan Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Rp. 1.750.000

Koordinator Produksi (Baker) Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Koordinator Penjualan (Sales Leader) Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Rp. 1.200.000

Staff Produksi (Helper) Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000

Staff Produksi (Helper) Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000

Staff Pengemasan (Packaging) Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000

Staff Pengemasan (Packaging) Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000

Staff Penjualan (Distributor Canvas) Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000 Rp. 800.000

Total People 9 9 9 9 9 9 9 9 9 9 9 9

Total Payroll Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Page 2

Appendix

Pro Forma Profit and Loss

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Sales Rp. 112.500.000 Rp. 112.500.000

Rp. 112.500.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 195.000.000 Rp. 255.000.000

Rp. 255.000.000

Rp. 255.000.000

Rp. 360.000.000

Rp. 360.000.000

Rp. 360.000.000

Direct Cost of Sales Rp. 36.000.000 Rp. 36.000.000

Rp. 36.000.000

Rp. 61.500.000

Rp. 61.500.000

Rp. 61.500.000 Rp. 80.250.000

Rp. 80.250.000

Rp. 80.250.000

Rp. 112.500.000

Rp. 112.500.000

Rp. 112.500.000

Wholesales Discount Rp. 39.375.000 Rp. 39.375.000

Rp. 39.375.000

Rp. 68.250.000

Rp. 68.250.000

Rp. 68.250.000 Rp. 89.250.000

Rp. 89.250.000

Rp. 89.250.000

Rp. 126.000.000

Rp. 126.000.000

Rp. 126.000.000

Working Incentive Rp. 2.250.000 Rp. 2.250.000 Rp. 2.250.000

Rp. 5.850.000 Rp. 5.850.000

Rp. 5.850.000 Rp. 10.200.000

Rp. 10.200.000

Rp. 10.200.000

Rp. 18.000.000

Rp. 18.000.000

Rp. 18.000.000

Total Cost of Sales Rp. 77.625.000 Rp. 77.625.000

Rp. 77.625.000

Rp. 135.600.000

Rp. 135.600.000

Rp. 135.600.000 Rp. 179.700.000

Rp. 179.700.000

Rp. 179.700.000

Rp. 256.500.000

Rp. 256.500.000

Rp. 256.500.000

Gross Margin Rp. 34.875.000 Rp. 34.875.000

Rp. 34.875.000

Rp. 59.400.000

Rp. 59.400.000

Rp. 59.400.000 Rp. 75.300.000

Rp. 75.300.000

Rp. 75.300.000

Rp. 103.500.000

Rp. 103.500.000

Rp. 103.500.000

Gross Margin % 31,00% 31,00% 31,00% 30,46% 30,46% 30,46% 29,53% 29,53% 29,53% 28,75% 28,75% 28,75%

Expenses

Payroll Rp. 10.150.000 Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000 Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Rp. 10.150.000

Marketing/Promotion Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Depreciation Rp. 1.250.000 Rp. 1.250.000 Rp. 1.250.000

Rp. 1.250.000 Rp. 1.250.000

Rp. 1.250.000 Rp. 1.250.000

Rp. 1.250.000

Rp. 1.250.000

Rp. 1.250.000

Rp. 1.250.000

Rp. 1.250.000

Sewa Tempat Rp. 3.000.000 Rp. 3.000.000 Rp. 3.000.000

Rp. 3.000.000 Rp. 3.000.000

Rp. 3.000.000 Rp. 3.000.000

Rp. 3.000.000

Rp. 3.000.000

Rp. 3.000.000

Rp. 3.000.000

Rp. 3.000.000

Armada Transportasi Rp. 4.500.000 Rp. 4.500.000 Rp. 4.500.000

Rp. 7.800.000 Rp. 7.800.000

Rp. 7.800.000 Rp. 10.200.000

Rp. 10.200.000

Rp. 10.200.000

Rp. 14.400.000

Rp. 14.400.000

Rp. 14.400.000

Utilitas Rp. 5.625.000 Rp. 5.625.000 Rp. 5.625.000

Rp. 9.750.000 Rp. 9.750.000

Rp. 9.750.000 Rp. 12.750.000

Rp. 12.750.000

Rp. 12.750.000

Rp. 18.000.000

Rp. 18.000.000

Rp. 18.000.000

ATK & Operasi Harian Rp. 1.125.000 Rp. 1.125.000 Rp. 1.125.000

Rp. 1.125.000 Rp. 1.125.000

Rp. 1.125.000 Rp. 1.125.000

Rp. 1.125.000

Rp. 1.125.000

Rp. 1.125.000

Rp. 1.125.000

Rp. 1.125.000

Payroll Taxes 0% Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Lain-lain Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Total Operating Expenses Rp. 25.650.000 Rp. 25.650.000

Rp. 25.650.000

Rp. 33.075.000

Rp. 33.075.000

Rp. 33.075.000 Rp. 38.475.000

Rp. 38.475.000

Rp. 38.475.000

Rp. 47.925.000

Rp. 47.925.000

Rp. 47.925.000

Profit Before Interest and Taxes

Rp. 9.225.000 Rp. 9.225.000 Rp. 9.225.000

Rp. 26.325.000

Rp. 26.325.000

Rp. 26.325.000 Rp. 36.825.000

Rp. 36.825.000

Rp. 36.825.000

Rp. 55.575.000

Rp. 55.575.000

Rp. 55.575.000

EBITDA Rp. 10.475.000 Rp. 10.475.000

Rp. 10.475.000

Rp. 27.575.000

Rp. 27.575.000

Rp. 27.575.000 Rp. 38.075.000

Rp. 38.075.000

Rp. 38.075.000

Rp. 56.825.000

Rp. 56.825.000

Rp. 56.825.000

Interest Expense Rp. 2.308.500 Rp. 2.242.000 Rp. 2.175.500

Rp. 2.109.000 Rp. 2.042.500

Rp. 1.976.000 Rp. 1.909.500

Rp. 1.843.000

Rp. 1.776.500

Rp. 1.710.000

Rp. 1.643.500

Rp. 1.577.000

Taxes Incurred Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Net Profit Rp. 6.916.500 Rp. 6.983.000 Rp. 7.049.500

Rp. 24.216.000

Rp. 24.282.500

Rp. 24.349.000 Rp. 34.915.500

Rp. 34.982.000

Rp. 35.048.500

Rp. 53.865.000

Rp. 53.931.500

Rp. 53.998.000

Net Profit/Sales 6,15% 6,21% 6,27% 12,42% 12,45% 12,49% 13,69% 13,72% 13,74% 14,96% 14,98% 15,00%

Page 3

Appendix

Pro Forma Cash Flow

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Cash Received

Cash from Operations

Cash Sales Rp. 112.500.000

Rp. 112.500.000

Rp. 112.500.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 255.000.000

Rp. 255.000.000

Rp. 255.000.000

Rp. 360.000.000

Rp. 360.000.000

Rp. 360.000.000

Subtotal Cash from Operations Rp. 112.500.000

Rp. 112.500.000

Rp. 112.500.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 255.000.000

Rp. 255.000.000

Rp. 255.000.000

Rp. 360.000.000

Rp. 360.000.000

Rp. 360.000.000

Additional Cash Received

Sales Tax, VAT, HST/GST Received

0,00% Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

New Current Borrowing Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

New Other Liabilities (interest-free)

Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

New Long-term Liabilities Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Sales of Other Current Assets Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Sales of Long-term Assets Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

New Investment Received Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Subtotal Cash Received Rp. 112.500.000

Rp. 112.500.000

Rp. 112.500.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 195.000.000

Rp. 255.000.000

Rp. 255.000.000

Rp. 255.000.000

Rp. 360.000.000

Rp. 360.000.000

Rp. 360.000.000

Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Expenditures from Operations

Cash Spending Rp. 106.333.500

Rp. 104.267.000

Rp. 104.200.500

Rp. 220.534.000

Rp. 169.467.500

Rp. 169.401.000

Rp. 256.334.500

Rp. 218.768.000

Rp. 218.701.500

Rp. 369.385.000

Rp. 304.818.500

Rp. 304.752.000

Bill Payments Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Subtotal Spent on Operations Rp. 106.333.500

Rp. 104.267.000

Rp. 104.200.500

Rp. 220.534.000

Rp. 169.467.500

Rp. 169.401.000

Rp. 256.334.500

Rp. 218.768.000

Rp. 218.701.500

Rp. 369.385.000

Rp. 304.818.500

Rp. 304.752.000

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out

Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Principal Repayment of Current Borrowing

Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Other Liabilities Principal Repayment

Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Long-term Liabilities Principal Repayment

Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000 Rp. 4.200.000

Purchase Other Current Assets Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Purchase Long-term Assets Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Dividends Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Subtotal Cash Spent Rp. 110.533.500

Rp. 108.467.000

Rp. 108.400.500

Rp. 224.734.000

Rp. 173.667.500

Rp. 173.601.000

Rp. 260.534.500

Rp. 222.968.000

Rp. 222.901.500

Rp. 373.585.000

Rp. 309.018.500

Rp. 308.952.000

Net Cash Flow Rp. 1.966.500 Rp. 4.033.000 Rp. 4.099.500 (Rp. 29.734.000)

Rp. 21.332.500

Rp. 21.399.000

(Rp. 5.534.500)

Rp. 32.032.000

Rp. 32.098.500

(Rp. 13.585.000)

Rp. 50.981.500

Rp. 51.048.000

Cash Balance Rp. Rp. Rp. Rp. Rp. Rp. Rp. Rp. Rp. Rp. Rp. Rp.

Page 4

Appendix

71.966.500 75.999.500 80.099.000 50.365.000 71.697.500 93.096.500 87.562.000 119.594.000 151.692.500 138.107.500 189.089.000 240.137.000

Page 5

Appendix

Pro Forma Balance Sheet

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Assets Starting Balances

Current Assets

Cash Rp. 70.000.000 Rp. 71.966.500 Rp. 75.999.500

Rp. 80.099.000

Rp. 50.365.000 Rp. 71.697.500

Rp. 93.096.500

Rp. 87.562.000

Rp. 119.594.000

Rp. 151.692.500

Rp. 138.107.500

Rp. 189.089.000

Rp. 240.137.000

Inventory Rp. 70.000.000 Rp. 72.000.000 Rp. 72.000.000

Rp. 72.000.000

Rp. 123.000.000 Rp. 123.000.000

Rp. 123.000.000

Rp. 160.500.000

Rp. 160.500.000

Rp. 160.500.000

Rp. 225.000.000

Rp. 225.000.000

Rp. 225.000.000

Other Current Assets Rp. 200.000.000

Rp. 200.000.000 Rp. 200.000.000

Rp. 200.000.000

Rp. 200.000.000 Rp. 200.000.000

Rp. 200.000.000

Rp. 200.000.000

Rp. 200.000.000

Rp. 200.000.000

Rp. 200.000.000

Rp. 200.000.000

Rp. 200.000.000

Total Current Assets Rp. 340.000.000

Rp. 343.966.500 Rp. 347.999.500

Rp. 352.099.000

Rp. 373.365.000 Rp. 394.697.500

Rp. 416.096.500

Rp. 448.062.000

Rp. 480.094.000

Rp. 512.192.500

Rp. 563.107.500

Rp. 614.089.000

Rp. 665.137.000

Long-term Assets

Long-term Assets Rp. 400.000.000

Rp. 400.000.000 Rp. 400.000.000

Rp. 400.000.000

Rp. 400.000.000 Rp. 400.000.000

Rp. 400.000.000

Rp. 400.000.000

Rp. 400.000.000

Rp. 400.000.000

Rp. 400.000.000

Rp. 400.000.000

Rp. 400.000.000

Accumulated Depreciation Rp. 0 Rp. 1.250.000 Rp. 2.500.000

Rp. 3.750.000

Rp. 5.000.000 Rp. 6.250.000

Rp. 7.500.000

Rp. 8.750.000

Rp. 10.000.000

Rp. 11.250.000

Rp. 12.500.000

Rp. 13.750.000

Rp. 15.000.000

Total Long-term Assets Rp. 400.000.000

Rp. 398.750.000 Rp. 397.500.000

Rp. 396.250.000

Rp. 395.000.000 Rp. 393.750.000

Rp. 392.500.000

Rp. 391.250.000

Rp. 390.000.000

Rp. 388.750.000

Rp. 387.500.000

Rp. 386.250.000

Rp. 385.000.000

Total Assets Rp. 740.000.000

Rp. 742.716.500 Rp. 745.499.500

Rp. 748.349.000

Rp. 768.365.000 Rp. 788.447.500

Rp. 808.596.500

Rp. 839.312.000

Rp. 870.094.000

Rp. 900.942.500

Rp. 950.607.500

Rp. 1.000.339.00

0

Rp. 1.050.137.000

Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Current Liabilities

Accounts Payable Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Current Borrowing Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Other Current Liabilities Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Subtotal Current Liabilities Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0 Rp. 0

Long-term Liabilities Rp. 150.000.000

Rp. 145.800.000 Rp. 141.600.000

Rp. 137.400.000

Rp. 133.200.000 Rp. 129.000.000

Rp. 124.800.000

Rp. 120.600.000

Rp. 116.400.000

Rp. 112.200.000

Rp. 108.000.000

Rp. 103.800.000

Rp. 99.600.000

Total Liabilities Rp. 150.000.000

Rp. 145.800.000 Rp. 141.600.000

Rp. 137.400.000

Rp. 133.200.000 Rp. 129.000.000

Rp. 124.800.000

Rp. 120.600.000

Rp. 116.400.000

Rp. 112.200.000

Rp. 108.000.000

Rp. 103.800.000

Rp. 99.600.000

Paid-in Capital Rp. 615.000.000

Rp. 615.000.000 Rp. 615.000.000

Rp. 615.000.000

Rp. 615.000.000 Rp. 615.000.000

Rp. 615.000.000

Rp. 615.000.000

Rp. 615.000.000

Rp. 615.000.000

Rp. 615.000.000

Rp. 615.000.000

Rp. 615.000.000

Retained Earnings (Rp. 25.000.000)

(Rp. 25.000.000) (Rp. 25.000.000)

(Rp. 25.000.000)

(Rp. 25.000.000) (Rp. 25.000.000)

(Rp. 25.000.000)

(Rp. 25.000.000)

(Rp. 25.000.000)

(Rp. 25.000.000)

(Rp. 25.000.000)

(Rp. 25.000.000)

(Rp. 25.000.000)

Earnings Rp. 0 Rp. 6.916.500 Rp. 13.899.500

Rp. 20.949.000

Rp. 45.165.000 Rp. 69.447.500

Rp. 93.796.500

Rp. 128.712.000

Rp. 163.694.000

Rp. 198.742.500

Rp. 252.607.500

Rp. 306.539.000

Rp. 360.537.000

Total Capital Rp. 590.000.000

Rp. 596.916.500 Rp. 603.899.500

Rp. 610.949.000

Rp. 635.165.000 Rp. 659.447.500

Rp. 683.796.500

Rp. 718.712.000

Rp. 753.694.000

Rp. 788.742.500

Rp. 842.607.500

Rp. 896.539.000

Rp. 950.537.000

Total Liabilities and Capital Rp. 740.000.000

Rp. 742.716.500 Rp. 745.499.500

Rp. 748.349.000

Rp. 768.365.000 Rp. 788.447.500

Rp. 808.596.500

Rp. 839.312.000

Rp. 870.094.000

Rp. 900.942.500

Rp. 950.607.500

Rp. 1.000.339.00

0

Rp. 1.050.137.000

Net Worth Rp. 590.000.000

Rp. 596.916.500 Rp. 603.899.500

Rp. 610.949.000

Rp. 635.165.000 Rp. 659.447.500

Rp. 683.796.500

Rp. 718.712.000

Rp. 753.694.000

Rp. 788.742.500

Rp. 842.607.500

Rp. 896.539.000

Rp. 950.537.000

Page 6