Page 57 - Investing in Praetura Group - Christopher Carter

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Ventures Forecasts

Financial Forecasts

2018 2019 2020 2021 2022 2023
Recurring Revenue 3,034 5,279 6,088 7,486 9,205
Non-Recurring Revenue - 1,180 1,880 1,430 1,580 1,746
Turnover 289 4,214 7,159 7,518 9,066 10,951
Sources of Revenue Cost of Sales (176) (336) (396) (336) (336) (336)
Net Income 113 3,878 6,763 7,182 8,730 10,615
Employment Costs (1,063) (2,372) (2,598) (3,698) (4,397) (5,268)
Recurring revenue represents new Fund based Overheads (226) (482) (482) (482) (482) (482)
revenue streams for Ventures. This includes all EBITDA (1,176) 1,024 3,684 3,002 3,851 4,865
monitoring fees payable from portfolio companies
except PAF/PCF Interest on Bank Facilities - - - - - -
PBT (1,176) 1,024 3,684 3,002 3,851 4,865
Non-recurring revenue represents existing Praetura
Capital sources of income which would not fall within
the scope of Praetura Ventures. Examples include:

• Arrangement fees on non-Ventures investments
• Corporate finance fees for corporate transactions Non-Recurring Revenue
• Other, ad hoc, opportunities available to the Group
Yr 18/19 Yr 19/20 Yr 20/21 Yr 21/22 Yr 22/23
By way of background to these numbers, in the last 12 Equity Rounds (3%) 3 4 5 5 3 6 4 4 5 4
Debt Raises (Fee Based)
months, we have: Deal Fees (3%) 3 5 3 4 4
Equity Rounds (ave Round) 5,000 5,000 5,000 5,000 5,000
80
95
70
99
• Billed £300k on the PAF deal Debt Raises (per Raise) 5,000 5,000 5,000 5,000 5,000
75
Deal Fees (ave Deal)
• Billed £150k on a corporate disposal of NRG
• Billed £250k on an investment into Pioneer Equity Rounds Total 15,000 25,000 15,000 20,000 25,000
75
95
88
99
Debt Raises
70
• Charged c. £250k re Sorted refinancings (which Deal Fees Total 15,000 25,000 15,000 20,000 20,000
would not be PV related) Equity Rounds (3%) 450 750 450 600 750
• Agreed £100k fees on a potential Challenge Debt Raises (Fee Based) 280 375 525 380 396
600
600
450
450
750
Deal Fees (3%)
transaction
Revenue £1,180 £1,875 £1,425 £1,580 £1,746