Beruflich Dokumente
Kultur Dokumente
18.0%
30.0%
Inversin inicial
Valor Venta
IGV 18%
Maquinarias y equipos
2,966,102
1,200,000
Terreno
533,898
1,186,441
Capital de trabajo
6,252,542
Estructura de Deuda
600,000
213,559
300,000
TOTAL
Montos
747,458
W (peso)
1,000,000
23.81%
Emisin de Bonos
2,000,000
47.62%
1,200,000
28.57%
4,200,000
100.00%
Montos
Total Patrimonio
2,000,000
Utilidades Retenidas
71.43%
800,000
28.57%
2,800,000
100.00%
Importe
Deuda
4,200,000
Patrimonio
2,800,000
40.00%
7,000,000
100.00%
1,400,000
300,000
Prstamo COFIDE
Total Deuda
3,500,000
1,200,000
600,000
Construccin
Inversiones
60.00%
7,000,000
Kd
Prstamo
Emisin de Bonos
Arrendamiento financiero
Costo (Kd x W)
11.45%
23.81%
2.73%
3.50%
47.62%
1.67%
11.24%
28.57%
3.21%
100.00%
7.60%
Kd
Deuda
Patrimonio
(1 - T )
7.60%
W
0.70
10.67%
40.00%
100.00%
WACC= Wd [Kd(1-t)] + Ws Ks
WACC
8.55%
6.47%
60.00%
0.98
2.16%
CAPM
8.508%
10.668%
Prstamo
1,000,000
TEA Ao 1
12.00%
5.83%
TEA Aos 2 y 3
5.830%
11.00%
5.36%
Aos
5.357%
Cargos y Comisiones
125.40
Cuota
391,216
Prstamo
58300.52.
Periodo
Saldo
Amortizacin
Inters
Cuota
Cargos y
Comisines
Cuota Total
(1,000,000)
1,000,000.00
125.40
1,058,300.52
61,699.48
125.40
61,699.48
125.40
61,824.88
1,058,300.52
1,058,300.52
334,527.79
56,688.26
56,688.26
125.40
56,813.66
56,688.26
391,216.05
125.40
391,341.45
723,772.74
371,325.84
352,446.89
38,769.16
391,216.05
125.40
391,341.45
371,325.84
19,890.21
391,216.05
125.40
391,341.45
TIR Semestral
TIR Anual
5.57%
5.57%
11.45%
11.45%
Arrendamiento Financiero
1,200,000
TEA anual
10.50%
TES semestral
5.12%
Aos
N de Cuotas
Cargos y comisiones
25.60
Valor de Recompra
2.0%
Cuota
374,982
Periodo
Saldo
Amortizacin
Inters
Cargos y
Comisines
Cuota
Valor de
Recompra
Flujo
(1,200,000)
1,200,000
25.60
1,261,428
25.60
25.60
25.60
1,326,000
307,104
67,878
374,982
25.60
375,007
1,018,896
322,825
52,157
374,982
25.60
375,007
696,071
339,350
35,632
374,982
25.60
356,721
356,721
18,260
374,982
25.60
375,007
24,000
TIRSemestral
TEA
399,007
5.47%
11.24%
Amortizacin
Anual
Amortizacin
307,104
657,352
691,797
728,047
964,457
1,419,844
2,000,000
100
4.00%
1.98%
2
0.30%
0.20%
0.18%
20,000.00
101.63%
20,326.00
Valor Nominal
Gastos
estructuracin
60.98
Gastos de
colocacin
Gastos de
Flotacin
40.65
36.59
Flujo Final
(20,187.78)
20,000.00
396.08
###
396.08
20,000.00
396.08
###
396.08
20,000.00
396.08
###
396.08
20,000.00
396.08
###
20,396.08
TIR Sem
TEA
1.735%
3.50%
Inversin
Inversin
IGV
Modulo de Inversin
Valor de Venta
1
Maquinarias y equipos
3,500,000
1,200,000
Terreno
Construccin
Capital de trabajo
533,898
2,966,102
1,200,000
600,000
1,400,000
Inversion inicial
213,559
300,000
600,000
6,252,542
120,000
18,305
101,695
Capital de trabajo
593,220
593,220
400,000
400,000
400,000
59,322
Depreciacin Depreciacin
Aos 4y5
acumulada
593,220
59,322
2,966,102
1,200,000
59,322
296,610
4,462,712
5
1,052,542
59,322
Depreciacin anual
Depreciacin
Ao 3
593,220
20
300,000
747,458
Depreciacin
Ao 2
1,186,441
7,000,000
Inversiones Adicionales
Aos de
Depreciacin
Depreciacin
Ao 1
65,000
45,000
35,000
1,052,542
20,339
20,339
1,072,881
672,881
61,017
Valor residual
600,000
889,831
300,000
1,789,831
40,678
1,830,508
Gastos financieros
Emisin de Bonos
79,215.61
Gastos estructuracin
6,097.80
Gastos colocacin
4,065.20
Gastos de flotacin
79,215.61
3,658.68
Subtotal
93,037.29
79,216
61,699.48
113,376.53
250.80
250.80
250.80
61,950.28
113,627.33
58,910.17
120,034.76
53,892.24
Prstamo COFIDE
Interes
Cargos y Comisiones
Subtotal
58,659.37
Arrendamiento Financiero
Interes
Cargos y Comisiones
51.20
51.20
Valor de Recompra
51.20
24,000.00
Subtotal
51.20
120,085.96
77,943.44
312,929
136,854
6,000.00
Costos de Colocacin
4,000.00
Costos de Flotacin
3,600.00
Subtotal
13,600.00
168,639
1.03
Estado de Ganancias y Prdidas
Ventas incrementales
6,000,000
6,180,000
6,365,400
6,556,362
6,753,053
Costo de ventas
2,700,000
2,781,000
2,864,430
2,950,363
3,038,874
45%
Utilidad Bruta
3,300,000
3,399,000
3,500,970
3,605,999
3,714,179
Gastos administrativos 8%
480,000
494,400
509,232
524,509
540,244
Gastos de Ventas 7%
420,000
432,600
445,578
458,945
472,714
Depreciacin
1,052,542
1,052,542
1,072,881
672,881
672,881
1,347,458
1,419,458
1,473,279
1,949,663
2,028,340
168,639
312,929
136,854
1,178,819
1,106,529
1,336,425
1,949,663
2,028,340
353,646
331,959
400,928
584,899
608,502
Utilidad neta
825,173
774,570
935,498
1,364,764
1,419,838
2,400,000
2,472,000
2,546,160
2,622,545
2,701,221
Gastos Financieros
Utilidad imponible
Ventas incrementales
6,000,000
6,180,000
6,365,400
6,556,362
6,753,053
Costo de ventas
2,700,000
2,781,000
2,864,430
2,950,363
3,038,874
3,300,000
3,399,000
3,500,970
3,605,999
3,714,179
Gastos administrativos 8%
480,000
494,400
509,232
524,509
540,244
Gastos de Ventas 7%
420,000
432,600
445,578
458,945
472,714
Depreciacin
1,052,542
1,052,542
1,072,881
672,881
672,881
1,347,458
1,419,458
1,473,279
1,949,663
2,028,340
404,237
425,837
441,984
584,899
608,502
943,220
993,620
1,031,295
1,364,764
1,419,838
1,052,542
1,052,542
1,072,881
672,881
672,881
-65,000
-45,000
-35,000
145,000
45%
Utilidad Bruta
Impuestos
EBIT - impuestos = NOPAT
(+) Depreciacin y amortizacin
(-) Cambio en capital de trabajo
(+) Valor residual
1,830,508
Inversiones
(7,000,000)
(7,000,000)
VAN
WACC
TIR
2,476,036
(120,000)
1,995,763
2,476,036.33
7.46%
18.60%
18.598%
1,981,163
1,939,176
2,002,646
4,068,228