Industry Comparson
Ice Fili Ice Cream Average Ice Cream Industry Average Costs
Ingredients % of Manufacturing Price RUB of Manufacturing Price RUB of Manufacturing Components % of Manufacturing Price RUB of Manufacturing Price RUB of Manufacturing Components
Condensed Milk 13.0% [$RUB] 0.37 12.6% [$RUB] 0.30
Milk powder 5.0% [$RUB] 0.14 5.0% [$RUB] 0.12
Butter 5.8% [$RUB] 0.17 5.5% [$RUB] 0.13
Oils 1.3% [$RUB] 0.04 1.3% [$RUB] 0.03
Sugar 5.0% [$RUB] 0.14 5.0% [$RUB] 0.12
Flavorings (cocoa, berries, etc) 12.6% [$RUB] 0.36 12.6% [$RUB] 0.30
Total Ingredients 42.7% [$RUB] 1.23 [$RUB] 1.23 42.0% [$RUB] 1.01 [$RUB] 1.01
Packaging 13.0% [$RUB] 0.37 13.0% [$RUB] 0.31
Manufacturing labor 11.7% [$RUB] 0.34 11.7% [$RUB] 0.28
Manufacturing overhead 10.2% [$RUB] 0.29 10.2% [$RUB] 0.24
Total Manufacturing Cost 77.6% [$RUB] 2.23 [$RUB] 1.01 76.9% [$RUB] 1.85 [$RUB] 0.84
SG&A Labor 4.2% [$RUB] 0.12 1.3% [$RUB] 0.03
SG&A Overhead 8.4% [$RUB] 0.24 5.8% [$RUB] 0.14
Marketing 2.0% [$RUB] 0.06 1.0% [$RUB] 0.02
Total Discretionary Costs 92.2% [$RUB] 2.66 [$RUB] 0.42 85.0% [$RUB] 2.04 [$RUB] 0.19
Manufacturers Margin 7.8% [$RUB] 0.22 15.0% [$RUB] 0.36
Manufacturers Price 100.0% [$RUB] 2.88 [$RUB] 0.22 100.0% [$RUB] 2.40 [$RUB] 0.36
Ice Fili Industry
Assumption 1: Ice Fili Ice Cream Retail Price page 4 [$RUB] 6.00 Assumption 1: Ice Cream Retail Price [$RUB] 5.00
Assumption 2: Manufacturer Price 48% of Retail Price page 22 [$RUB] 2.88 Assumption 2: Manufacturer Price 48% of Retail Price [$RUB] 2.40
Assumption 3: Ice Fili COGS using Financials Page 20 77.6% Assumption 3: Industry data from page 9
Assumptoin 4: Ice Fili spends more on butter & milk (appr .4% milk & .3% butter) (Page 6)
Assumption 5: Net Income for Ice Fili using Financials (page 20) 7.8%
Assumption 6: Marketing spend by Ice Fili $500k page 9 and page 19 2.0%
Assumption 7: SG&A labor 40% of employees have been there 20 years (page 5) quadruple labor.
Assumption 8: Moscow operations and headquarters Exhibit 11 page 24 add 2.6%Total Ingredients Ice Fili Industry 1.22976 1.008 Total Manufacturing Cost Ice Fili Industry 1.00512 0.8375999999999999 Total Discretionary Costs Ice Fili Industry 0.42047999999999996 0.19439999999999999 Manufacturers Margin Ice Fili Industry 0.22463999999999998 0.36