【正文】 9 9 39。9 7 39。0 0020406039。9 8 39。9 6 39。9 9 39。9 7 39。0 0020406039。9 8 39。9 6 39。9 9 39。9 7 39。0 03132333439。9 8 39。9 6 39。9 9 39。9 7 39。0 0Exhibit 10 49 ? TREND ANALYSIS – CASH NOT EXHAUSTIVE The cash flow tree can be disaggregated to show the other relevant KPIs of a BU Exhibit 11 Cash flow generated PhP million Operating cash flow PhP million Investing cash flow PhP million + Net ine PhP million Noncash expenses PhP million + Change in working capital PhP million + 020406039。9 8 39。9 6 39。9 9 39。9 7 39。0 005101539。9 8 39。9 6 39。9 9 39。9 7 39。0 012141639。9 8 39。9 6 39。9 9 39。9 7 39。0 0020040060039。9 8 39。9 6 39。9 9 39。9 7 39。 Revenue PhP million Operating margin Percent x (1 tax rate) Percent x Market share Percent Industry sales PhP million x 0102039。vis the benefits provided and the price charged Who is your target customer? What are the explicit benefits you provide to your customers? What perceived value do you provide to the customer better than petition? How much value do your customers attach to the benefits you provide? 22 ? IIIA. STRATEGY ARTICULATION – BACKUP 3 What is your business model? ? Delivery and munication of customer value proposition (value delivery system) ? Competitive advantage in delivering these benefits to the customer How will the value proposition be provided and municated? Which of your BU’s existing strengths can be leveraged? What skills/capabilities do you need to build? 23 ? IIIA. STRATEGY ARTICULATION – BACKUP 4 How does your chosen strategy exploit the industry opportunities and address the industry/petitive threats? ? Industry attractiveness and implication review ? Alignment of strategy and environmental realities Instructions: A review of the section on Industry Dynamics and Implications, together with the frameworks used (Exhibit 2,3 or 4) is useful for answering this question 24 ? IIIB. STRATEGIC INITIATIVES – SUMMARY B. What will be the impact of major strategic initiatives? B3. How much value will be created from each strategic initiative? B4. What resources will each strategic initiative require? B1. What major strategic initiatives are required to successfully implement your selected business model? B2. What are the sources of value created from each strategic initiative? 25 ? IIIB. STRATEGIC INITIATIVES – BACKUP 1 What major strategic initiatives are required to successfully implement your selected business model? ? Possible strategic initiatives list 26 ? IIIB. STRATEGIC INITIATIVES – BACKUP 2 What are the sources of value created from each strategic initiative? ? Sources of value from each strategic initiative (., EBIT, capital employed) Category of initiatives Volume increase EBIT impact via Price increase Cost reduction Other Investment Capital employed impact via Divestment Capital efficiency* Other ? ? ? ? * . improved working capital employment, increased asset utilization, changes to asset ownership Specific actionable initiatives ? ? ? ? ? ? ? ? 27 ? IIIB. STRATEGIC INITIATIVES – BACKUP 3 Operating ine ongoing impact 20232023 PhP millions Capital employed ongoing impact 20232023 PhP billions Present operating ine Volume increase Price increase Cost reduction benefit Additional costs Total ongoing operating ine Present capital employed Improved capital efficiency Divestments Investments (capex and acquisitions) Total ongoing capital employed How much value will be created from each strategic initiative? onetime EBIT impact = onetime costs = ? Financial impact from each strategic initiative ? Expected financial outlay for each initiative + + + – = + – = – 28 ? IIIB. STRATEGIC INITIATIVES – BACKUP 4 What resources will each strategic initiative require? ? Resources required to make strategy work ? Availability of resources in the anization ? Plan for filling resource gaps Categories of initiatives Specific actionable initiatives People/skills Resource requirements Funding ExCom involvement ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 29 ? IIIC. FINANCIAL PROJECTIONS – SUMMARY C. What are the expected financial returns of your strategy? What is your expected cash generation ability over the medium term? What is your expected capital productivity? What is your projected ine in the next few years? What are the key assumptions? 30 ? IIIC. FINANCIAL PROJECTIONS – BACKUP 1 What are the key assumptions? ? Profit and loss (. revenues, costs, margin) ? Balance sheet ? Corporate center directives ? Corporate center assumptions BASE CASE Business unit assumptions Revenues ? Market size ? Market share ? Price Costs ? Input costs ? Production costs ? Other costs ( . SGA) Margins ? Gross margin ? Operating margin Capital ? Planned investments/ divestments ? Changes in working capital 2023 KEY FORECAST ASSUMPTIONS 2023 2023 Growth rate Corporate center assumptions 2023 2023 2023 Key economic indicators ? GDP growth ? Consumer price index ? Exchange rate ( PhP / USD ) ? 91day Tbill rate Corporate tax rate 31 ? IIIC. FINANCIAL PROJECTIONS – BACKUP 2 What is your projected ine in the next few years? ? Ine statement forecast BASE CASE Historical Sales Cost of goods sold Gross profit Operating expenses Operating profit Other expenses Taxes Net profit 1999 FORECASTED INCOME STATEMENT 2023 In PhP million Forec