Attachment F â Financial Statements and Certification
Attachment F – Financial Statements and Certification
Confidential
PARTNER PRO FORMA SFO T3 Lease 2 - Super Duper Burger
Lease Term
6.0 years
Traffic Growth Pricing/Capture Growth Development Period Adjustments Enplaned Passengers RPE Sales Food & Non-alc Bev. Alcoholic Beverages Merchandise Total Cost of Sales Food & Non-alc Bev. Paper Alcoholic Beverages Merchandise Total Payroll Admin Staffing Other Controllables Pre-opening/Closing Costs Controllable Profit Margin Contract Rent Storage Rent CAM Royalties Other Invest. Factors Joint Venture Cash Flow Joint Venture Cash Flow Margin Partner Share of JV Share of JV Cash Flow 30.0% Less: Share of Annual R&R Capex Less: Share of Midterm Investment Total Pre-Tax Cash Flow to Partner
50% 2017
50% 2023 2.0% 2.0% 200.0%
2018 2.0% 2.0% 0.0%
2019 2.0% 2.0% 0.0%
2020 2.0% 2.0% 0.0%
2021 2.0% 2.0% 0.0%
2022 2.0% 2.0% 0.0%
3,121 0.78
6,304 0.80
6,430 0.82
6,559 0.84
6,690 0.85
6,824 0.87
3,480 0.89
2,434 0 0 --------2,434
5,064 0 0 --------5,064
5,268 0 0 --------5,268
5,481 0 0 --------5,481
5,703 0 0 --------5,703
5,933 0 0 --------5,933
3,086 0 0 --------3,086
32,969 0 0 --------32,969
100.0% 0.0%
645 49 0 0 --------694
1,342 101 0 0 --------1,443
1,396 105 0 0 --------1,502
1,453 110 0 0 --------1,562
1,511 114 0 0 --------1,625
1,572 119 0 0 --------1,691
818 62 0 0 --------880
8,737 659 0 0 --------9,396
26.5% 2.0%
--------28.5%
925 37 146 40 --------592 24.3%
1,925 76 304 0 --------1,316 26.0%
2,003 79 316 0 --------1,369 26.0%
2,084 82 329 0 --------1,424 26.0%
2,168 86 342 0 --------1,482 26.0%
2,256 89 356 0 --------1,541 26.0%
1,173 46 185 0 --------802 26.0%
12,535 495 1,978 40 --------8,526
38.0% 1.5% 6.0% 0.1% --------25.9%
219 6 40 122 12 --------193 7.9%
456 13 81 253 25 --------487 9.6%
477 13 0 263 26 --------589 11.2%
498 13 0 274 27 --------611 11.2%
520 13 0 285 29 --------634 11.1%
543 14 0 297 30 --------658 11.1%
283 7 0 154 15 --------343 11.1%
2,997 79 121 1,648 165 --------3,515 10.7%
9.1%
58 0 0 --------58
146 (4) 0 --------142
177 (4) 0 --------173
183 (4) 0 --------179
190 (4) 0 --------186
197 (4) 0 --------193
103 (2) 0 --------100
1,055 (23) 0 --------1,032
100.0%
TOTAL
%
--------100.0%
0.4% 5.0% 0.5% --------10.7%
These projections are based on the company’s best estimates. Any estimates and projections contained herein involve significant elements of subjective judgment and analysis, which may or may not be correct. None of Autogrill, HMSHost, any of its affiliates, or any of its direct or indirect shareholders, or any of its or their respective members, employees or agents provides any guarantee or warranty (express or implied) or assumes any responsibility with respect to the authenticity, origin, validity, accuracy or completeness of the information and data contained herein or assumes any obligation for damages, losses or costs (including, without limitation, any direct or consequential losses) resulting from any errors or omissions in these projections. These projections are necessarily based on current market conditions, which may change significantly over a short period of time. Changes and events occurring after the date hereof may, therefore, affect the validity of the conclusions contained in these projections and HMSHost assumes no obligation to update and/or revise these projections or the information and data upon which it has been based.
I, April Spears, certify that: (1) the financial statements of Auntie April’s included in this Form are true and complete in all material respects; and (2) the tax return information of Auntie April’s included in this Form reflects accurately the information reported on the tax return for Auntie April’s filed for the fiscal year ended 2016. ________________________________ April Spears President and CEO
07/10/17
Date: _________________________
Confidential
PARTNER PRO FORMA SFO T3 Lease 2 - Super Duper Burger
Lease Term
6.0 years
Traffic Growth Pricing/Capture Growth Development Period Adjustments Enplaned Passengers RPE Sales Food & Non-alc Bev. Alcoholic Beverages Merchandise Total Cost of Sales Food & Non-alc Bev. Paper Alcoholic Beverages Merchandise Total Payroll Admin Staffing Other Controllables Pre-opening/Closing Costs Controllable Profit Margin Contract Rent Storage Rent CAM Royalties Other Invest. Factors Joint Venture Cash Flow Joint Venture Cash Flow Margin Partner Share of JV Share of JV Cash Flow 30.0% Less: Share of Annual R&R Capex Less: Share of Midterm Investment Total Pre-Tax Cash Flow to Partner
50% 2017
50% 2023 2.0% 2.0% 200.0%
2018 2.0% 2.0% 0.0%
2019 2.0% 2.0% 0.0%
2020 2.0% 2.0% 0.0%
2021 2.0% 2.0% 0.0%
2022 2.0% 2.0% 0.0%
3,121 0.78
6,304 0.80
6,430 0.82
6,559 0.84
6,690 0.85
6,824 0.87
3,480 0.89
2,434 0 0 --------2,434
5,064 0 0 --------5,064
5,268 0 0 --------5,268
5,481 0 0 --------5,481
5,703 0 0 --------5,703
5,933 0 0 --------5,933
3,086 0 0 --------3,086
32,969 0 0 --------32,969
100.0% 0.0%
645 49 0 0 --------694
1,342 101 0 0 --------1,443
1,396 105 0 0 --------1,502
1,453 110 0 0 --------1,562
1,511 114 0 0 --------1,625
1,572 119 0 0 --------1,691
818 62 0 0 --------880
8,737 659 0 0 --------9,396
26.5% 2.0%
--------28.5%
925 37 146 40 --------592 24.3%
1,925 76 304 0 --------1,316 26.0%
2,003 79 316 0 --------1,369 26.0%
2,084 82 329 0 --------1,424 26.0%
2,168 86 342 0 --------1,482 26.0%
2,256 89 356 0 --------1,541 26.0%
1,173 46 185 0 --------802 26.0%
12,535 495 1,978 40 --------8,526
38.0% 1.5% 6.0% 0.1% --------25.9%
219 6 40 122 12 --------193 7.9%
456 13 81 253 25 --------487 9.6%
477 13 0 263 26 --------589 11.2%
498 13 0 274 27 --------611 11.2%
520 13 0 285 29 --------634 11.1%
543 14 0 297 30 --------658 11.1%
283 7 0 154 15 --------343 11.1%
2,997 79 121 1,648 165 --------3,515 10.7%
9.1%
58 0 0 --------58
146 (4) 0 --------142
177 (4) 0 --------173
183 (4) 0 --------179
190 (4) 0 --------186
197 (4) 0 --------193
103 (2) 0 --------100
1,055 (23) 0 --------1,032
100.0%
TOTAL
%
--------100.0%
0.4% 5.0% 0.5% --------10.7%
These projections are based on the company’s best estimates. Any estimates and projections contained herein involve significant elements of subjective judgment and analysis, which may or may not be correct. None of Autogrill, HMSHost, any of its affiliates, or any of its direct or indirect shareholders, or any of its or their respective members, employees or agents provides any guarantee or warranty (express or implied) or assumes any responsibility with respect to the authenticity, origin, validity, accuracy or completeness of the information and data contained herein or assumes any obligation for damages, losses or costs (including, without limitation, any direct or consequential losses) resulting from any errors or omissions in these projections. These projections are necessarily based on current market conditions, which may change significantly over a short period of time. Changes and events occurring after the date hereof may, therefore, affect the validity of the conclusions contained in these projections and HMSHost assumes no obligation to update and/or revise these projections or the information and data upon which it has been based.
I, April Spears, certify that: (1) the financial statements of Auntie April’s included in this Form are true and complete in all material respects; and (2) the tax return information of Auntie April’s included in this Form reflects accurately the information reported on the tax return for Auntie April’s filed for the fiscal year ended 2016. ________________________________ April Spears President and CEO
07/10/17
Date: _________________________
