Download as xlsx, pdf, or txt
Download as xlsx, pdf, or txt
You are on page 1of 32

Course Challenge

99 Agency --->
Annual Report--->
Income Statement

$ in 000s Q1 Q2 Q3 Q4 FY 2020
Revenue Ad Campaigns 13,794 16,528 13,674 19,418 63,414
Revenue SEO Campaigns 6,682 8,140 5,231 8,091 28,144
Total Revenue 20,476 24,668 18,905 27,509 91,558
Cost of Ads (7,306) (8,278) (7,199) (10,851) (33,634)
Cost of SEO Campaigns (4,545) (5,507) (3,819) (4,934) (18,805)
Gross Profit 8,625 10,883 7,887 11,724 39,119
SG&A (5,171) (5,507) (5,390) (6,579) (22,647)
EBITDA 3,454 5,376 2,497 5,145 16,472
D&A (82) (81) (83) (89) (335)
EBIT 3,372 5,295 2,414 5,056 16,137
Interest Expense (120) (120) (120) (120) (480)
EBT 3,252 5,175 2,294 4,936 15,657
Taxes (325) (518) (229) (494) (1,566)
Net Income 2,927 4,658 2,065 4,442 14,091
Q1 Q2 Q3 Q4 FY 2021
16413 18,926 16,498 21,432 73,269
6,177 7,460 5,803 9,023 28,463
22,590 26,386 22,301 30,455 101,732
(8,816) (10,273) (9,390) (12,034) (40,513)
(3,777) (4,544) (4,263) (6,034) (18,618)
9,997 11,569 8,648 12,387 42,601
(5,696) (5,498) (5,640) (6,231) (23,065)
4,301 6,071 3,008 6,156 19,536
(85) (85) (85) (85) (340)
4,216 5,986 2,923 6,071 19,196
(234) (234) (234) (234) (936)
3,982 5,752 2,689 5,837 18,260
(398) (575) (269) (584) (1,826)
3,584 5,177 2,420 5,253 16,434
Balance Sheet

31Mar 30Jun 30Sep 31Dec 31Mar 30Jun 30Sep


$ in 000s 2020 2020 2020 2020 2021 2021 2021
Cash 414 496 410 583 492 568 495
Trade Receivables 18,044 18,070 17,834 23,838 25,144 25,014 22,868
Inventory - - - - 0 0 0
Fixed Assets 1,286 1,329 1,386 1,381 1,339 1,283 1,288
Other assets 6,684 8,542 11,559 8,159 8,445 11,170 14,713
Total Assets 26,428 28,436 31,189 33,960 35,421 38,035 39,364

Trade Payables 15,125 14,949 15,021 20,478 14,938 11,806 14,195


Other Liabilities 6,056 8,304 9,737 6,896 10,048 14,150 16,066
Financial Liabilities 3,000 3,000 3,000 3,000 4,680 4,680 4,680
Equity 2,247 2,183 3,431 3,586 5,755 7,399 4,423
Total Liabilities & Equity 26,428 28,436 31,189 33,960 35,421 38,035 39,364

DSO 79 66 85 78 100 85 92
DPO 115 98 123 117 107 72 94
31Dec
2021
643
24,231
0
1,313
12,545
38,732

11,002
15,110
4,680
7,940
38,732

72
55
Cash Flow Statement

$ in 000s Q1 Q2 Q3 Q4 FY 2021
EBITDA 4,301 6,071 3,008 6,156 19,536
Interest Expenses (234) (234) (234) (234) (936)
Taxes (398) (575) (269) (584) (1,826)
Change in Accounts Receivable (1,306) 130 2,146 (1,363) (393)
Change in Other Assets (287) (2,724) (3,543) 2,168 (4,386)
CAPEX (43) (29) (90) (110) (272)
Change in Trade Payables (5,540) (3,132) 2,389 (3,193) (9,476)
Change in Other Liabilities 3,152 4,102 1,916 (956) 8,214
Change in Financial Liabilities 1,680 - - - 1,680
Changes in Equity (1,415) (3,533) (5,396) (1,736) (12,080)
Net Cash Flow (90) 75 (73) 148 60
Budget Templates --->
Revenue: Bottom - Up

Bottom-up Approach

Number of Ad campaigns Q1 Q2 Q3 Q4 FY 2020


Client A 486 513 408 307 1,714
Client B 185 236 205 343 969
Client C 49 57 37 114 258
Other 245 331 273 353 1,202
Total number of Ad campaigns 965 1,137 923 1,118 4,144

Number of SEO campaigns Q1 Q2 Q3 Q4 FY 2020


Client A 384 463 266 368 1,481
Client B 327 347 229 318 1,221
Client C 280 280 262 419 1,240
Other 372 471 274 502 1,619
Total number of SEO campaigns 1,363 1,560 1,031 1,607 5,561

Average revenue per Ad campaign Q1 Q2 Q3 Q4 FY 2020


Client A 12.5 13.2 13.4 15.8 13.5
Client B 16.4 16.1 16.7 19.8 17.6
Client C 28.1 25.9 22.1 13.6 20.3
Other 13.5 13.5 14.5 17.6 14.9
Average revenue Ad campaigns 14.3 14.5 14.8 17.4 15.3

Average revenue per SEO campaign Q1 Q2 Q3 Q4 FY 2020


Client A 5.4 5.1 5.3 5.5 5.3
Client B 4.5 5.4 5.7 6.1 5.4
Client C 3.1 3.2 2.8 2.9 3.0
Other 6.1 6.4 6.5 5.8 6.2
Average revenue SEO campaigns 4.9 5.2 5.1 5.0 5.1

Revenue in 000s Q1 Q2 Q3 Q4 FY 2020


Client A 6,069 6,776 5,470 4,855 23,170
Client B 3,035 3,801 3,419 6,796 17,051
Client C 1,379 1,488 820 1,553 5,241
Other 3,311 4,463 3,965 6,214 17,952
Total revenue Ad campaigns 13,794 16,528 13,674 19,418 63,414

Revenue in 000s Q1 Q2 Q3 Q4 FY 2020


Client A 2,071 2,361 1,412 2,023 7,867
Client B 1,470 1,872 1,308 1,942 6,592
Client C 869 895 732 1,214 3,710
Other 2,272 3,012 1,779 2,913 9,975
Total revenue SEO campaigns 6,682 8,140 5,231 8,091 28,144
Q1 Q2 Q3 Q4 FY 2021 Var% Y-o-Y Feedback Q1
374 462 418 402 1,657 -3.4% 0.0% 374
223 206 215 363 1,006 3.8% 4.0% 232
99 186 226 516 1,027 298.2% 30.0% 128
413 415 309 71 1,208 0.5% 1.0% 417
1,109 1,268 1,168 1,352 4,898 18.2% 1,152

Q1 Q2 Q3 Q4 FY 2021 Var% Y-o-Y Feedback Q1


353 451 350 541 1,695 14.5% 20.0% 424
343 341 285 367 1,336 9.4% 10.0% 377
412 597 555 1,074 2,638 112.7% 30.0% 535
252 249 157 201 858 -47.0% -30.0% 177
1,360 1,638 1,347 2,183 6,528 17.4% 1,513

Q1 Q2 Q3 Q4 FY 2021 Var% Y-o-Y Feedback Q1


11.4 12.3 13.8 21.3 14.7 8.5% 10.0% 12.5
18.4 19.3 16.9 20.1 18.9 7.3% 6.0% 19.5
18.3 15.3 12.4 8.3 11.4 -43.8% -30.0% 12.8
15.1 15.5 13.9 18.1 15.1 1.2% 2.0% 15.4
14.8 14.9 14.1 15.8 15.0 -2.2% 15.0

Q1 Q2 Q3 Q4 FY 2021 Var% Y-o-Y Feedback Q1


4.9 4.8 5.3 5.5 5.1 -3.1% -2.0% 4.8
4.5 5.9 5.3 5.9 5.4 0.3% 0.0% 4.5
2.7 2.5 2.3 2.1 2.3 -22.2% -15.0% 2.3
7.1 7.2 7.4 8.1 7.4 20.4% 25.0% 8.9
4.5 4.6 4.3 4.1 4.4 -13.8% 4.3

Q1 Q2 Q3 Q4 FY 2021 Var% Y-o-Y Q1


4,267 5,678 5,774 8,573 24,292 4.8% 4,694
4,103 3,974 3,630 7,287 18,994 11.4% 4,523
1,805 2,839 2,805 4,286 11,735 123.9% 1,643
6,237 6,435 4,289 1,286 18,247 1.6% 6,425
16,413 18,926 16,498 21,432 73,269 15.5% 17,286

Q1 Q2 Q3 Q4 FY 2021 Var% Y-o-Y Q1


1,730 2,163 1,857 2,978 8,728 10.9% 2,034
1,544 2,014 1,509 2,166 7,233 9.7% 1,699
1,112 1,492 1,277 2,256 6,136 65.4% 1,229
1,791 1,790 1,161 1,624 6,366 -36.2% 1,567
6,177 7,460 5,803 9,023 28,463 1.1% 6,529
Budget
Q2 Q3 Q4 FY 2022
462 418 402 1,657
214 223 377 1,046
241 294 671 1,335
419 312 72 1,220
1,336 1,248 1,523 5,258

Budget
Q2 Q3 Q4 FY 2022
541 420 650 2,035
376 313 404 1,470
776 722 1,396 3,429
174 110 140 601
1,866 1,565 2,590 7,534

Budget
Q2 Q3 Q4 FY 2022
13.5 15.2 23.4 16.1
20.5 17.9 21.3 20.0
10.7 8.7 5.8 8.0
15.8 14.2 18.5 15.4
14.8 13.9 14.9 14.7

Budget
Q2 Q3 Q4 FY 2022
4.7 5.2 5.4 5.0
5.9 5.3 5.9 5.4
2.1 2.0 1.8 2.0
9.0 9.3 10.1 9.3
4.3 4.0 3.8 4.1

Budget
Q2 Q3 Q4 FY 2022
6,246 6,352 9,430 26,722
4,381 4,001 8,033 20,939
2,583 2,552 3,901 10,679
6,629 4,419 1,325 18,798
19,840 17,324 22,689 77,138

Budget
Q2 Q3 Q4 FY 2022
2,544 2,184 3,502 10,264
2,216 1,660 2,382 7,956
1,649 1,411 2,493 6,781
1,567 1,016 1,421 5,571
7,975 6,270 9,797 30,571
Revenue: Top - Down
Top-down Approach
FY 2022
Country ABC population (million people) 60
Percentage of people using Internet 64%
Number of Internet Users (million people) 38.4
Average revenue per internet user (in $) 540
Total Revenue Internet Industry (in million $) 20,736
% spent on Agency fees 3.5%
Agency Revenue 725.8
99 Agency Market Share 18%
99 Agency Revenue (in million $) 130.6
Revenue Budget

Bottom-Up Approach 107,709


Top-Down Approach 130,637
Average Revenue Projection 119,173

Previous Year 101,732


Y-o-Y Growth % 17.1%

Last Year
Q1 Q2 Q3 Q4 FY 2021
Revenue Ad campaigns 16,413 18,926 16,498 21,432 73,269
Revenue SEO campaigns 6,177 7,460 5,803 9,023 28,463
Total Revenue 22,590 26,386 22,301 30,455 101,732

Budget
Q1 Q2 Q3 Q4 FY 2022 Var% Y-o-Y
Revenue Ad campaigns 20,162 23,300 20,205 26,473 90,141
Revenue SEO campaigns 6,301 7,609 5,919 9,203 29,032
Total Revenue 26,463 30,910 26,124 35,676 119,173
Var% Y-o-Y
23%
2%
17.1%
Cost of Sales - Ad Campaigns
Last Year Actuals
in '000 Q1 Q2 Q3 Q4 FY21 Q1
Number of Ad Personnel 14 14 15 15 15
Average salary ($ in 000s) (41.2) (43.2) (44.5) (42.4) (42.8)
Cost of Ad Personnel (577) (605) (668) (636) (2,485) (642)

Number of Ad Campaigns 1,109 1,268 1,168 1,352 4,898 1,152


Average Cost per ad campaign (7.4) (7.6) (7.5) (8.4) (7.8) (7.7)
Cost of Ad Campaigns (8,239) (9,668) (8,723) (11,398) (38,028) (8,911)

Cost of Sales - Ad Campaigns (8,816) (10,273) (9,390) (12,034) (40,513) (9,553)


Budget
Q2 Q3 Q4 FY22
15 15 15
(42.8) (42.8) (42.8)
(642) (642) (642) (2,570)

1,336 1,248 1,523 5,258


(7.7) (7.7) (7.7) (7.7)
(10,339) (9,652) (11,781) (40,682)

(10,981) (10,294) (12,423) (43,251)


Cost of Sales - SEO Campaigns
Last Year Actuals Budget
in '000 Q1 Q2 Q3 Q4 FY21 Q1
Number of SEO Personnel 19 19 20 21 21
Average salary ($ in 000s) (61.2) (64.5) (68.3) (61.9) (64.0)
Cost of SEO Personnel (1,163) (1,226) (1,366) (1,300) (5,054) (1,343)

Number of SEO Campaigns 1,360 1,638 1,347 2,183 6,528 1,513


Average Cost per SEO campaign (1.9) (2.0) (2.2) (2.2) (2.1) (2.1)
Cost of SEO Campaigns (2,614) (3,319) (2,897) (4,734) (13,564) (3,127)

Cost of Sales - SEO Campaigns (3,777) (4,544) (4,263) (6,034) (18,618) (4,471)
Budget
Q2 Q3 Q4 FY22
21 21 21
(64.0) (64.0) (64.0)
(1,343) (1,343) (1,343) (5,374)

1,866 1,565 2,590 7,534


(2.1) (2.1) (2.1) (2.1)
(3,857) (3,235) (5,354) (15,573)

(5,201) (4,578) (6,697) (20,947)


SG&A
Last Year Actuals Budget
in '000 Q1 Q2 Q3 Q4 FY21 Q1 Q2
Office Rent (300) (300) (300) (300) (1,200) (300) (300)
fixed fee

Accounting Services (20) (20) (20) (24) (84) (21) (21)


fixed fee

Legal Fees (53) (52) (52) (54) (211) (53) (53)


fixed fee

Staff Training (50) (50) (50) (50) (200) (50) (50)


fixed fee

Management Salaries (2,000) (2,000) (2,000) (2,000) (8,000) (2,000) (2,000)


fixed fee

Administration (788) (174) (765) (453) (2,179) (545) (545)


fixed fee

External Services (226) (264) (223) (305) (1,017) (265) (309)


as a % of Revenue 1% 1% 1% 1% 1% 1% 1%

Selling Commissions (2,259) (2,639) (2,230) (3,046) (10,173) (2,646) (3,091)


as a % of Revenue 10% 10% 10% 10% 10% 10% 10%

SG&A (5,696) (5,498) (5,640) (6,231) (23,065) (5,880) (6,369)


Budget
Q3 Q4 FY22
(300) (300) (1,200)

(21) (21) (84)

(53) (53) (211)

(50) (50) (200)

(2,000) (2,000) (8,000)

(545) (545) (2,179)

(261) (357) (1,192)


1% 1% 1%

(2,612) (3,568) (11,917)


10% 10% 10%

(5,842) (6,893) (24,983)


Fixed Assets
Last Year Actuals Budget
31Mar 30Jun 30Sep 31Dec 31Mar
$ in 000s 2021 2021 2021 2021 2022
Beginning value of Fixed Assets 1,381 1,339 1,283 1,288 1,313
D&A (85) (85) (85) (85) (81)
D&A as a % of Beginning value of Fixed Assets -6.2% -6.2% -6.2% -6.2% -6.2%
CAPEX 43 29 90 110 70
Ending Value of Fixed Assets 1,339 1,283 1,288 1,313 1,303

Total Revenue 22,590 26,386 22,301 30,455 26,463


CAPEX as a % of Revenue 0.2% 0.1% 0.4% 0.4% 0.3%
Budget
30Jun 30Sep 31Dec
2022 2022 2022
1,303 1,305 1,294
(80) (80) (80)
-6.2% -6.2% -6.2%
82 70 95
1,305 1,294 1,309

30,910 26,124 35,676


0.3% 0.3% 0.3%
Working Capital
Last Year Actuals Budget
31Mar 30Jun 30Sep 31Dec 31Mar
$ in 000s 2021 2021 2021 2021 2022
Total Revenues 22,590 26,386 22,301 30,455 26,463
Cost of Sales (12,593) (14,817) (13,653) (18,068) (14,024)

Trade Receivables 25,144 25,014 22,868 24,231 25,683


DSO 100.2 85.3 92.3 71.6 87.3

Trade Payables 14,938 11,806 14,195 11,002 12,732


DPO 106.8 71.7 93.6 54.8 81.7

Inventory 0 0 0 0 0
DIO 0 0 0 0 0
Budget
30Jun 30Sep 31Dec
2022 2022 2022
30,910 26,124 35,676
(16,182) (14,872) (19,120)

29,999 25,354 34,625


87.3 87.3 87.3

14,692 13,503 17,359


81.7 81.7 81.7

0 0 0
0 0 0
Financial Liabilities

Last Year Actuals Budget


31Mar 30Jun 30Sep 31Dec 31Mar 30Jun 30Sep
$ in 000s 2021 2021 2021 2021 2022 2022 2022
Financial Liabilities 4,680 4,680 4,680 4,680 4,250 4,250 4,250
Interest expenses -234 -234 -234 -234 -213 -213 -213
Interest rate % -5.0% -5.0% -5.0% -5.0% -5.0% -5.0% -5.0%
dget
31Dec
2022
4,250
-213
-5.0%
Income Statement

Last Year Actuals Budget


in '000 Q1 Q2 Q3 Q4 FY 21 Q1 Q2
Revenue Ad Campaigns 16,413 18,926 16,498 21,432 73,269 20,162 23,300
Revenue SEO Campaigns 6,177 7,460 5,803 9,023 28,463 6,301 7,609
Total Revenue 22,590 26,386 22,301 30,455 101,732 26,463 30,910
Cost of Ads (8,816) (10,273) (9,390) (12,034) (40,513) (9,553) (10,981)
Cost of SEO Campaigns (3,777) (4,544) (4,263) (6,034) (18,618) (4,471) (5,201)
Gross Profit 9,997 11,569 8,648 12,387 42,601 12,439 14,727
SG&A (5,696) (5,498) (5,640) (6,231) (23,065) (5,880) (6,369)
EBITDA 4,301 6,071 3,008 6,156 19,536 6,560 8,359
D&A (85) (85) (85) (85) (340) (81) (80)
EBIT 4,216 5,986 2,923 6,071 19,196 6,479 8,279
Interest Expense (234) (234) (234) (234) (936) (213) (213)
EBT 3,982 5,752 2,689 5,837 18,260 6,266 8,066
Taxes (398) (575) (269) (584) (1,826) (627) (807)
Net Income 3,584 5,177 2,420 5,253 16,434 5,640 7,259
Budget
Q3 Q4 FY 22
20,205 26,473 90,141
5,919 9,203 29,032
26,124 35,676 119,173
(10,294) (12,423) (43,251)
(4,578) (6,697) (20,947)
11,252 16,556 54,974
(5,842) (6,893) (24,983)
5,410 9,663 29,991
(80) (80) (321)
5,329 9,583 29,670
(213) (213) (850)
5,117 9,371 28,820
(512) (937) (2,882)
4,605 8,434 25,938
Balance Sheet

Last Year Actuals Budget


31Mar 30Jun 30Sep 31Dec 31Mar 30Jun
$ in 000s 2021 2021 2021 2021 2022 2022
Cash 492 568 495 643 6,141 11,043
Trade Receivables 25,144 25,014 22,868 24,231 25,683 29,999
Inventory 0 0 0 0 0 0

Fixed Assets 1,339 1,283 1,288 1,313 1,303 1,305


Other assets 8,445 11,170 14,713 12,545 12,545 12,545

Total Assets 35,421 38,035 39,364 38,732 45,672 54,891

Trade Payables 14,938 11,806 14,195 11,002 12,732 14,692


Other Liabilities 10,048 14,150 16,066 15,110 15,110 15,110

Financial Liabilities 4,680 4,680 4,680 4,680 4,250 4,250

Equity 5,755 7,399 4,423 7,940 13,580 20,839

Total Liabilities & Equity 35,421 38,035 39,364 38,732 45,672 54,891

Check - - - - - -
Budget hh
30Sep 31Dec
2022 2022
19,114 22,118
25,354 34,625
0 0

1,294 1,309
12,545 12,545

58,307 70,597

13,503 17,359
15,110 15,110

4,250 4,250

25,444 33,878

58,307 70,597

- -
Cash Flow Statement

Last Year Actuals


31Mar 30Jun 30Sep 31Dec
$ in 000s 2021 2021 2021 2021
EBITDA 4,301 6,071 3,008 6,156
Interest Paid (234) (234) (234) (234)
Taxes Paid (398) (575) (269) (584)

Change in Accounts Receivable (1,306) 130 2,146 (1,363)


Change in Other Assets (287) (2,724) (3,543) 2,168
CAPEX (43) (29) (90) (110)

Change in Trade Payables (5,540) (3,132) 2,389 (3,193)


Change in Other Liabilities 3,152 4,102 1,916 (956)
Change in Financial Liabilities 1,680 - - -

Changes in Equity (Dividend Payments, Increase in Equity) (1,415) (3,533) (5,396) (1,736)

Net Cash Flow (90) 75 (73) 148


Actuals Budget
31Mar 30Jun 30Sep 31Dec
FY 21 2022 2022 2022 2022 FY 22
19,536 6,560 8,359 5,410 9,663 29,991
(936) (213) (213) (213) (213) (850)
(1,826) (627) (807) (512) (937) (2,882)

(393) (1,452) (4,316) 4,644 (9,270) (10,394)


(4,386) - - - - -
(272) (70) (82) (70) (95) (317)

(9,476) 1,730 1,960 (1,189) 3,856 6,357


8,214 - - - - -
1,680 (430) - - - (430)

(12,080) - - - - -

60 5,498 4,901 8,071 3,005 21,475

You might also like