Scenario I: Based on Cost of Goods Sold using actual historical performa

year 2018 2019 2020

Periods(days) 365 365

Net Sales - 5,897,025 8,997,255
Sales Growth #DIV/0! 53%
CGS - 5,179,405 7,633,788
CGS to sales% #DIV/0! 88% 85%
As per the business plan
Description Amount in birr 15263429.4645
A Forcasted based on 2021 sales 11,673,758.06
B Average Cost of goods sold (A*62%) 9,871,703.87
C Working Capital cycle 3 B/C 3,290,567.96
D Less: Net current asset 2,183,495.54 (1,795,912.00)
E Total Bank financing required (= C-D) 1,107,072.42
F Existing facilities limit
G Additional bank finance required (E-F) 1,107,072.42

Total current asset 6,029,546.08 2,785,000.00

Total current Liabilites 2,283,335.77 1,222,285.23
Net C/A 3,746,210.31 1,583,257.71
201,741.00
278,500.00
3,285,783.94
ctual historical performance
Forcasted sales
2021 based on 2021 Average
Let us assume he will accomplish 50% because
365 the 111.9% is exaggrated
14,264,887 #DIV/0! 21,397,331.03
59% 56% #DIV/0!
11,556,420
81% 85%

17973758.061

4,465,801.31
3,244,546.08
4466831.31 6,029,546.08
(1,562,714.77)
2,283,335.77
2,183,495.54
 Scenario I: Based on Cost of Goods Sold using actual historical performan

year 2019 2020 2021

Periods(days) 365 365

Net Sales 10,934,208.00 30,438,226 29,232,714
Sales Growth 178.38% -4%
CGS 9,720,531.00 28,137,000 24,529,711
CGS to sales% 89% 92% 84%
As per the business plan
Description Amount in birr
A Forcasted based on 2021 sales 33,268,463.80
B Average Cost of goods sold (A*87%) 28,898,783.48
C Working Capital cycle 2.5 B/C 11,559,513.39
D Less: Net current asset 5,921,440.00
E Total Bank financing required (= C-D) 5,638,073.39
F Existing facilities limit
G Additional bank finance required (E-F) 5,638,073.39

Total current asset 8,246,485.96

Total current Liabilites 71,275.06
Net C/A 8,175,210.90
tual historical performance
Forcasted sales
2022 based on 2021 Average
Let us assume he will accomplish 50% because
365 the 111.9% is exaggrated
31,061,234 30,244,058 46,591,851.00
6% 60.22% 60.22%
26,167,431
84% 87%
3,024,405.80
current-prev/pr 33,268,463.80
 Scenario I: Based on Cost of Goods Sold using actual historical performance
year 2021 2022 interim
Periods(days) 365
Net Sales 23,727,510.00 25,645,764 13,464,026
Sales Growth 8.08%
CGS 19,433,983.00 18,633,380 8,355,762
CGS to sales% 82% 73% 62%
As per the business plan
Description Amount in birr

A Forcasted based on 2021 sales 26,360,000.00

B Average Cost of goods sold (A*77%) 20,297,200.00

C Working Capital cycle 3 B/C 6,765,733.33
D Less: Net current asset (1,157,594.00)
E Total Bank financing required (= C-D) 7,923,327.33
F Existing facilities limit
G Additional bank finance required (E-F) 7,923,327.33

Total current asset 11,676,165.00

Total current Liabilites 12,833,759.00
Net C/A (1,157,594.00)
torical performance
Average

24,686,637

77%

Let us assume business

sales growth increased by
8% as per historical data
 Scenario I: Based on business plan
year 2021 2022 interim Average

Periods(days) 365
Net Sales 23,727,510.00 25,645,764 13,464,026 24,686,637
Sales Growth 8.08%
CGS 19,433,983.00 18,633,380 8,355,762
CGS to sales% 82% 73% 62% 77%
As per the business plan
Description Amount in birr
A Forcasted based on 2021 sales 68,400,000.00
B Average Cost of goods sold (A*77%) 52,668,000.00
C Working Capital cycle 3 B/C 17,556,000.00
D Less: Net current asset (1,157,594.00)
E Total Bank financing required (= C-D) 18,713,594.00
F Existing facilities limit
G Additional bank finance required (E-F) 18,713,594.00

Total current asset 11,676,165.00

Total current Liabilites 12,833,759.00
Net C/A (1,157,594.00)
Let us assume he will accomplish 50% of the
business plan because the 533% is exaggrated
 year 2018 2019 2020
Periods(days) 365 365
Net Sales 10,256,389.56 12,826,850 17,923,453
Sales Growth 25.06% 40%
CGS 8,750,725.54 10,704,510 14,773,774
CGS to sales% 85% 83% 82%

Description Amount in birr

Forcasted based on 2022 sales 46,347,000.00
Average Cost of goods sold (A*76%) 30,589,020.00
Working Capital cycle 3 B/C 12,235,608.00
Less: Net current asset 4,819,620.35
Total Bank financing required (= C-D) 7,415,987.65
Existing facilities limit 6,781,858.06
Additional bank finance required (E-F) 7,415,987.65 1,962,237.71
 Forcasted sales
2021 2022 based on 2021 Average
365 365
22,356,489 25,436,896 21,905,612.41
25% 14% 26%
16,156,015 18,318,135 16,415,974.68
72% 72% 75% 79%

5695459.225733 27,601,071.63

46,347,000.00
30,607,590.00
66%

4,819,620.35
 year 2019 2020 2021
Periods(days) 365 365 365
Net Sales 24,286,275 20,595,394 8,700,108
Sales Growth -15% -58%
CGS 22,377,769 18,393,168 7,338,315
CGS to sales% 92% 89% 84%

Description Amount in birr

Forcasted based on 2022 sales

Average Cost of goods sold (A*76%)

Working Capital cycle 3 B/C
Less: Net current asset
Total Bank financing required (= C-D)
Existing facilities limit 6,781,858.06 4,819,620.35
Additional bank finance required (E-F) - 1,962,237.71
 2022 Average
365
34,110,534 21,135,345 4,227,069.07 25,362,414.40
292% 0.89
31,695,774 22,572,548.82
93% 89% 9,029,019.53
4,836,596.00
#REF! 4,192,423.53 380,667.00 4,836,596.00

30,358,375.26 18,810,457.35
46,347,000.00 12,143,350.10 7,524,182.94
30,607,590.00 4,836,596.00 4,836,596.00
66% 7,306,754.10 2,687,586.94
 year 2019 2020 2021
Periods(days) 365 365 365
Net Sales 154,286,135 114,940,360 95,400,000
Sales Growth % -26% -17%
CGS 106,756,064 88,175,870 82,367,110
CGS to sales% 69% 77% 86%
246%

Description Amount in birr

Forcasted based on 2022/23 sales 140,051,232.00

Average Cost of goods sold (A*76%) 113,441,497.92

Working Capital cycle 3 B/C 45,376,599.17
Less: Net current asset 16,715,857.00 47371035
Total Bank financing required (= C-D) 28,660,742.17 30655178
Existing facilities limit 17,000,000.00 16,715,857.00
Additional bank finance required (E-F) 11,660,742.17
 2022 Average
365
209,813,336 420,153,696 140,051,232.00
120%
173,627,629
83% 77%
0.819355083063

17,000,000.00
 year 2019 2020 2021
Periods(days) 365 365
Net Sales 12,942,619 15,795,676
Sales Growth #DIV/0! 22%
CGS 11,911,502 13,875,654
CGS to sales% #DIV/0! 92% 88%

Description Amount in birr

Forcasted based on 2022 sales 40,752,546.08
Average Cost of goods sold (A*76%) 37,899,867.85
Working Capital cycle 3 B/C 9,474,966.96 911,494.47
Less: Net current asset 661,197.08
Total Bank financing required (= C-D) 8,813,769.88
Existing facilities limit
Additional bank finance required (E-F) -
2022 Average
365
29,746,384 19,494,893 2,924,233.94 22,419,126.89
88% 110.36% 37% 0.37 11,006,162.08 40,752,546.08
29,444,762
99% 93% 37%

7,213,110.39 26,708,003.34 24,838,443.11

8,279,481.04
7,618,283.96

250,297.39 661,197.08
 year 2019 2020 2021 2022
Periods(days) 365 365 365
Net Sales 18,267,762 21,940,953 39,055,202
Sales Growth #DIV/0! 20% 78%
CGS 16,239,123 18,917,731 37,679,922
CGS to sales% #DIV/0! 89% 86% 96%

Description Amount in birr

Forcasted based on 2022/23 sales 51,943,418.81

Average Cost of goods sold (A*91%)

47,268,511.11 597,431.99
Working Capital cycle 2.5 B/C 18,907,404.45 1,313.13
Less/add: Net current asset 596,118.86
Total Bank financing required (= C-D 18,311,285.59
Existing facilities limit
Additional bank finance required (E- 18,311,285.59
Average 8,719,030.90 35,140,336.67

26,421,305.77 12,888,216.70 51,943,418.81

32.70% 12,888,216.70
24,278,925
91% 91%

596,118.86
 year 2019 2020 2021
Periods(days) 365 365
Net Sales 3,800,000.00 5,328,000
Sales Growth 40%
CGS 4,438,826
CGS to sales% #DIV/0! 0% 72%

Description Amount in birr

Forcasted based on 2022 sales 6,000,378.67
Average Cost of goods sold (A*76%) 4,500,284.00
Working Capital cycle 3 B/C 1,500,094.67
Less: Net current asset
Total Bank financing required (= C-D)
Existing facilities limit
Additional bank finance required (E-F) -
2022 Average
365
6,127,200 5,085,067
15% 18.00% 6% 0.37 #REF! #REF!
4,759,050
78% 93%

915,312.00

5
-

2023 2012 11
 Scenario II: Based on the Presented Business Plan
year Year 1 Year 2
Periods(days) 365 365
Net Sales 98,808,000 119,557,680
Assume it will achieve 25% 24,702,000 29,889,420
Sales Growth 21%
CGS 82,340,000.00 99,631,400
CGS to sales% 83.3% 83%
As per the business plan
Description Amount in birr
A Sales assumed to be Achieved 24,702,000.00
B Average Cost of goods sold (A*62%) 15,315,240.00
C Working Capital cycle 3 B/C 5,105,080.00 Less: Net current asse
D Less: Net current asset 8,175,210.90 Bank loan installmen
E Total Bank financing required (= C-D) (3,070,130.90)
F Existing facilities limit 2,300,000.00
G Additional bank finance required (E-F) -5,370,130.90
iness Plan
Year 3 Average
365
144,664,793
36,166,198
21%
120,553,994
83% 83%

1,374,886.9 949,886.92
425,000
 Working capital requirement per birr of sale
Description
A Forecasted Total sales 9,410,317.79

B Average/computed working capital required per one birr sale

0.42
C Working Capital Requirement Per Cycle(A*B) 3,952,333.47
D Net current asset 8,175,210.90
E Total bank financing required (=C-D) (4,222,877.43)
F Existing facilities limit 2,300,000.00
G Additional bank finance required (E-F) (6,522,877.43)

Less: Net current asset 8175210.9

Total Bank financing required (= C-D) -1794435.84
Existing facilities limit 2300000
0.42

1.26
 Current year FCY request $
Selling rate 27/07/2022

Description Amount in birr

A Current year FCY request in birr 16,360,005.47
B Net current asset 8,175,210.96
C Existing facilities limit 2,300,000.00
D Additional bank finance required (E-F) 5,884,794.51
 307,184.00
53.258
16,360,005.47
Total current asset 8,246,486.0
Total current liabilities 71,275
Net current asset 8,175,210.96
 Scenario III: Based on Cost of Goods Sold using Interim change to f

year 2019 2020

Periods(days) 365 365
Net Sales 18,579,620 12,979,810
Sales Growth 430.33% -30.14%
CGS 11,869,639.00 7,365,850
CGS to sales% 63.89% 56.75%
As per the Interim change to full year
Description Amount in birr
A Interim change to full year 33,628,409.10
B Average Cost of goods sold (A*62%) 20,849,613.64
C Working Capital cycle 3 B/C 6,949,871.21 Less: Net current
D Less: Net current asset 8,175,210.90 Bank loan instal
E Total Bank financing required (= C-D) (1,225,339.69)
F Existing facilities limit 2,300,000.00
G Additional bank finance required (E-F) (3,525,339.69)
Sold using Interim change to full year
Interim change to full
2021 year(june 27 interim) Average
365
4,449,530 17,245,338.00 95%
-65.72% 111%
2,851,296
64.08% 62%

262,888,989.00

1,374,886.9 949,886.92
425,000

262,888,989.00 32,861,123.63 65,722,247.25

328,611,236.25
 16,383,071.10
33,628,409.10
33,628,409.10