Business Growth Strategy

I need you to write about the business growth strategy of BinDawood company and to do the DCF evaluation projection of only the( depreciation and the SG&A) in excell sheet starting from 2018 to year 2025 and to write justification i have the excel sheet ready you will only do the projections  of the highlited part

(in million)	Historical Period			CAGR	Projection Period												Sensitivity Analysis
	2018	2019	2020	(18 – 20)	2021	2022	2023	2024	2025		Input			Output					Perpetuity growth %
Sales	4,554	4,844	5,157	6%	5,497	5,865	6,258	6,677	7,125		Wacc Calculation			Enterprise value			##	26,011	-1.0%	-0.5%	0.0%	0.5%	1.0%
% growth		6.4%	6.5%		6.6%	6.7%	6.7%	6.7%	6.7%		Target Capital Structure			Present value of Free Cash Flow	6,785		WACC	-2.0%	0	0	0	0	0
COGS	3,001	3,199	3,485	8%	3,732	4,516	4,819	5,142	5,486		Debt to Total Capitalization	65.79%						-1.0%	#DIV/0!	0	0	0	0
% sales	65.9%	66.0%	67.6%		67.9%	77.0%	77.0%	77.0%	77.0%		Equity to Total Capitalization	34.21%		Terminal Value	25,320			0.0%	0	0	#DIV/0!	0	0
Gross Profit	1553	1645	1672	4%	1764	1349	1439	1536	1639		Debt to Equity Ratio	1.9234		Discount Factor	0.76			1.0%	0	0	0	0	#DIV/0!
% margin	34.1%	34.0%	32.4%		32.1%	23.0%	23.0%	23.0%	23.0%					Present Value of Terminal Value	19,226			2.0%	0	0	0	0	0
SG&A	1,047	1,006	1,002	-2%	0	0	0	0	0		Cost of Equity			% of Enterprise Value	74%
% of sales	22.99%	20.77%	19.43%								Risk-free rate	3.06%
EBIT	506	639	670	15%	1,764	1,349	1,439	1,536	1,639		Market risk Premium	6.08%		Enterprise value	26,011
% margin	11.1%	13.2%	13.0%		32.1%	23.0%	23.0%	23.0%	23.0%		Levered Beta	-0.19		Less: Total debt	3,456,710
Plus: Depreciation & Amortization	155,523	160,093	165,448		0	0	0	0	0		Cost of Equity	1.9%		Plus: Cash and Cash Equi.	232,197
% of sales	34	33	32											Net Debt	3,224,513
EBITDA	156,029	160,732	166,118	3%	1,764	1,349	1,439	1,536	1,639		Cost of Debt			Less: Preferred Stock	0
% margin	34	33	32		0	0	0	0	0		Cost of Debt	8.82%		Less: Noncontrolling Interest	0
Taxes					0	34	36	38	41		Taxes	2.5%		Implied Equity Value	-3,198,502
% of EBIT	0	0	0								After Tax Cost of Debt	8.6%		Fully Diluted Outstanding shares	114,130,000
EBIAT	506	639	670		1,764	1,315	1,403	1,497	1,598					Implied share price	-0.03
Less: Capex	144	42	46		0	0	0	0	0		WACC	6.31%
% sales	3.2%	0.9%	0.9%
Less: Incr./(Dec.) in NWC	181	377	-36		-311	0	63	0	0
Unlevered Free Cash Flow	155,704	160,313	166,108		2,075	1,315	1,340	1,497	1,598
WACC	6.3%
Discount Period					0.5	1.5	2.5	3.5	4.5
Discount Factor					0.97	0.91	0.86	0.81	0.76
Present value of free cash flow					2,013	1,200	1,150	1,209	1,213
Terminal Value
Terminal Year Free Cash Flow	1,598
Perpetuity Growth Rate	0.0%
Terminal Value	25,320
Discount Period	4.5
Discount Factor	0.8
Present Value of Terminal Value	19,226
% of Enterprise Value	74%
(in million)		Actual				Forecast period
Net Working Capital	2017	2018	2019	2020		2021	2022	2023	2024	2025
Account receivables	145	157	260	313
Inventory	760	806	919	1,000
Prepaid expenses and other	0	53	52	61
Total Current Assets	905	1,016	1,231	1,374		0	0	0	0	0
% sales		22.3%	25.4%	26.6%		0.0%	0.0%	0.0%	0.0%	0.0%
Account payable	1,152	1,059	884	1,063
Accrued Liabilities
Other Current Liabilities	27	50	63	63		63	63
Total Current Liabilities	1,179	1,109	947	1,126		63	63	0	0	0
% sales		-24.4%	-19.6%	-21.8%		1.1%	1.1%	0.0%	0.0%	0.0%
Net Working Capital	-274	-93	284	248		-63	-63	0	0	0
% sales		-2%	6%	5%		-1%	-1%	0%	0%	0%