Cash Ratio Template Strictly Confidential

Table of Contents

Cash Ratio

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Balance Sheet

All figures in USD thousands unless stated 2020A 2021A 2022A 2023F 2024F 2025F 2026F 2027F

ASSETS
Cash 9,125 4,793 3,727 5,477 7,999 10,809 14,173 17,441
Accounts Receivable 5,708 6,333 6,624 6,963 7,103 7,246 7,355 7,429
Inventories 1,792 1,923 2,009 1,857 1,894 1,932 1,961 1,981
Total Current Assets 16,625 13,049 12,360 14,298 16,997 19,987 23,490 26,851

Property Plant & Equipment 58,759 64,296 67,974 70,453 72,734 74,881 76,591 78,417

Total Assets 75,384 77,345 80,334 84,751 89,730 94,868 100,081 105,268

LIABILITIES
Accounts Payable 3,024 3,205 3,319 2,971 3,031 3,092 3,138 3,170
Revolving Credit Line – – – – – – – –
Total Current Liabilities 3,024 3,205 3,319 2,971 3,031 3,092 3,138 3,170

Long-Term Debt 28,000 24,000 20,000 16,000 12,000 8,000 4,000 -

Total Liabilities 31,024 27,205 23,319 18,971 15,031 11,092 7,138 3,170

EQUITY
Common Equity 38,670 38,670 38,670 37,670 36,670 35,670 34,670 33,670
Retained Earnings 5,690 11,470 18,345 28,110 38,030 48,107 58,273 68,428
Total Shareholders' Equity 44,360 50,140 57,015 65,780 74,700 83,776 92,943 102,098

Total Liabilities & Equity 75,384 77,345 80,334 84,751 89,730 94,868 100,081 105,268

Check – – – – – – – –

Cash Ratio 3.02 1.50 1.12 1.84 2.64 3.50 4.52 5.50