Beruflich Dokumente
Kultur Dokumente
BALANCE SHEET
Net operating assets 66,949 79,000 93,220 110,000 135,000
Without adjustment
EVA= NOPAT-CoC*Capital 548 10,962 12,642 14,625 24,775
INCOME STATEMENT 2,012 2013 2014
Income before following Items 24,694 31,512
yoy growth 28%
R&D(old values in Yellow) 4,632 12,487 7,554
R&D as % of income 51%
Consumer Advertising Exp 11 34 24
BALANCE SHEET
Net operating assets 66,949 79,000
yoy growth 18%
Asset Added(R&D) 12,487 37,770
Less: Accumulated amortisation 4,632 14,321
Gross Asset R&D 7,855 23,449
Add Advertising 34 72
Less: Accumulated amortisation 11 24
23 48
74,827 102,497
Cost of capital/Capital charge 11% 11%
11 24
PnL Cumulative 34 72
Actual Cumulative 11 35
23 37
- - 10,000 -
38 41 45 50
180,734
18% Add back Advertising expense less accumulated ammortization
173,274
111,622
61,653
322
55
268
242,654
11%
2019
16.667
18.150
19.965
55
322
264
58
2019
3,419
4,000 4,000
7,800
5,476
6,406 6,406 6,406
27,101
173,274
111,622
61,653
17,892
242,654
-8,800
2013 2014
EVA (Calculated) 4,802.00 - 6,756.89 -
3,150.68
2019
-8,800.32 373.73 41% -22% -29%
Estimated EVA
Apprrox -90%
1. Founded in 1945
2. 15 Subsidiaries : Valuation of 2.7 billions USD
3. Finn was CEO for 18 years importance was given to Profits and EPS
4. Old compensation: Half based on operating results and other half was subjective
5. Corporate restructuring is done for implement EVA( challenges for implementation of EVA
s and EPS
ther half was subjective
enges for implementation of EVA)