Case 11 Horniman Horticulture 20170504

Exhibit 1 Financial Statement Projection (Unit: thousands of dollars) 200 200! 200" F

2002

2003

%&&'! 02' 3&!'" 301'2 3'2 !0'2 1%'" 32'"

&0%'" 2&'& 3%&'& 302'0 3 & ' 3 &' 1 3 '1 2 !'3

0&'2 3%'% %0'! 3!"'0 3"'3 %&'2 2"'2 !2'0

10&'& !03' !!' 0'!  0 ' 100'0 3  '2 " 0' &

13"3' "!' %0'0 !22'% "'0 10'3 '& 0'!

Balance sheet ash .ccounts recei$able n$entor4 ther current assets urrent assets  et fixed assets otal assets

120'1 0'" "&'3 20' "' 332'1 1032'0

10!'2   '! !0%'" 1  '3 %31'" 332'! 10"'1

""'& 11'! !23' 22'" %32'3 3&'3 111"'"

 ' 1"' "!"' 2 0' &33'" 3%' 11&1'!

(1"!'3) 10'3 &!'0 32'! 11' 3%"' 12&&'3

.ccounts ,a4able 5a*es ,a4able ther ,a4ables urrent liabilities et 6orth

"'0 1'% 10'2 3!' "'1

! '3 2 2' 0 1 ! '  2' % 1021'

'! 22'1 1"'" 3'2 10%3'

! '0 2  ' 1 % '  % '3 113'2

"'!" 3'1 23'0 "3'" 122'%

a,ital ex,enditure Purchases

22'0 10'&

3 & '& 1!'2

&&'1 1"1'2

 '! 1&!'1

%! 22'&

Profit and loss statement #e$enue ost of *oods sold +ross ,rofit S+-. ex,ense /e,reciation ,eratin* ,rofit axes et ,rofit

Exhibit 2 Free ash Flo6 .nal4sis .nal4sis 2002 et ,rofit .dd: /e,reciation 7ess: ncrease in 5or8in* a,ital 7ess: .PE

2003 2 ! '3 3 & ' 93'& 93&'&

(Unit: thousands of dollars) 200 200! 200" F !2'0 " 0 '& 0'! 3"'3  0' "'0 93&'" 91!'" 923"'3 9&&'1 9'! 9%!'0

FF hec8

91'

93&'

9!%'

91%'%

0'0

0'0

0'0

0'0

Exhibit 3 /etails of chan*e in net 6or8in* ca,ital (Unit: thousands of dollars) 2002 2003 200 200! 200" F han*e in .ccounts recei$able &' 20'0 2"' 3' han*e in n$entor4 3'3 1!'& 133'! 1%'1 han*e in ther current assets 91'" 3'3 91'% 11'" han*e in .ccounts ,a4able 90'% 90'& 0'! 1'" han*e in 5a*es ,a4able 2'3 0'1 2'3 '% han*e in ther ,a4ables !'2 1'2 1'3 !'1 ncrease in 5or8in* a,ital 3'& 3&'" 1!'" 23"'3

2002 #e$enue *ro6th .ccounts recei$able *ro6th

2003 2; 10;

200 12; 20;

200! 1!; 23;

200" F 30; 30;

Percenta*e of et ,eratin* of 5or8in* a 2002 2003 200 200!  et ,eratin* 5or8in* a,ital 100'0; 100'0; 100'0; 100'0; .ccounts recei$able 1"'%; 1%'0; 1'2; 1&'&; n$entor4 &"'1; &%'0; &'1; &'"; ther current assets 3'&; 3'3; 3'"; 2'%; .ccounts ,a4able 91'1; 90'; 90'%; 90'"; 5a*es ,a4able 93'"; 93'&; 93'"; 93'1; ther ,a4ables 91'; 92'"; 92'%; 92'3; Exhibit  +o6th of #e$enue and .ccount #ecei$able

n$entor4 *ro6th

&;

3;

2";

 

,ital ar .$era*e 100'0; 1%'; &!'; 3'; 90'&; 93'!; 92';

30;

Exhibit ! Financial #atio and 3"!)  F. turno$er (#e$enue = F.) ash on$ersion 4cle

1' 2'2 1!'" 2' !0'"

!'0 32'1 13'3 2' "3'%

&'0 3"'! 10'2 2' %'3

!0' %"'3 ' 3'0 !1%'

21'& 3&"'3 2"' 2'% 3&1'2

1