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A
COSTO DE PRODUCCIN Y VENTAS
($000)
Jan 12
Materias Primas
(+) Inventario Inicial
(+) Compras
(=) Materia Prima Disponible
(-) Inventario Final
Consumo Materia Prima
Feb 12
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
Mar 12
3,891,200
3,891,200
3,891,200
Apr 12
3,955,968
3,955,968
3,955,968
May 12
3,936,576
3,936,576
3,936,576
Jun 12
3,936,576
3,936,576
3,936,576
Jul 12
4,015,308
4,015,308
4,015,308
Aug 12
3,995,625
3,995,625
3,995,625
Sep 12
4,048,900
4,048,900
4,048,900
Oct 12
4,089,389
4,089,389
4,089,389
Nov 12
4,075,937
4,075,937
4,075,937
Dec 12
4,075,937
4,075,937
4,075,937
4,130,283
4,130,283
4,130,283
3,820,000
3,891,200
3,955,968
3,936,576
3,936,576
4,015,308
3,995,625
4,048,900
4,089,389
4,075,937
4,075,937
4,130,283
3,820,000
3,820,000
1,300,000
5,120,000
1,280,000
3,891,200
3,891,200
1,280,000
5,171,200
1,292,800
3,955,968
3,955,968
1,292,800
5,248,768
1,312,192
3,936,576
3,936,576
1,312,192
5,248,768
1,312,192
3,936,576
3,936,576
1,312,192
5,248,768
1,312,192
4,015,308
4,015,308
1,312,192
5,327,500
1,331,875
3,995,625
3,995,625
1,331,875
5,327,500
1,331,875
4,048,900
4,048,900
1,331,875
5,380,775
1,345,194
4,089,389
4,089,389
1,345,194
5,434,582
1,358,646
4,075,937
4,075,937
1,358,646
5,434,582
1,358,646
4,075,937
4,075,937
1,358,646
5,434,582
1,358,646
4,130,283
4,130,283
1,358,646
5,488,928
1,372,232
3,840,000
3,878,400
3,936,576
3,936,576
3,936,576
3,995,625
3,995,625
4,035,581
4,075,937
4,075,937
4,075,937
4,116,696
80.0%
80.0%
80.0%
80.0%
80.0%
80.0%
80.0%
80.0%
80.0%
80.0%
80.0%
80.0%
#REF!
#REF!
3,820,000
Feb-12
3,891,200
3,891,200
Mar-12
3,955,968
3,955,968
Apr-12
3,936,576
3,936,576
May-12
3,936,576
3,936,576
Jun-12
4,015,308
4,015,308
Jul-12
3,995,625
3,995,625
Aug-12
4,048,900
4,048,900
Sep-12
4,089,389
4,089,389
Oct-12
4,075,937
4,075,937
Nov-12
4,075,937
4,075,937
Dec-12
4,130,283
4,130,283
#REF!
0%
#REF!
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
100%
0%
0%
100%
Dec-11
Jan-12
3,860,000
7,100,000
10,960,000
4,441,163
7,052,917
11,494,080
2,900,000
1,660,000
6,400,000
10,960,000
0
3,093,338
1,657,237
6,743,505
11,494,080
0
Dec-11
Jan-12
960,000
7,100,000
8,060,000
1,347,825
7,052,917
8,400,741
600,000
1,060,000
6,400,000
8,060,000
0
597,237
1,060,000
6,743,505
8,400,741
0
Pasivos y Patrimonio
Pasivos Operativos Corrientes y no Corrientes
Pasivos Financieros
Patrimonio
Total Pasivos y Patrimonio
Check
EMPRESA COMERCIAL XYZ S.A
BALANCE GENERAL FINANCIERO
($000)
Capital Empleado Con Costo
Capital Neto de Trabajo
Activos Fijos Netos
Total Capital Empleado Con Costo
Dec-11
960,000
360,000
600,000
Jan-12
1,347,825
750,588
597,237
FUENTE Y
4,000,000
3,000,000
2,867,623
2,000,000
1,000,000
-
960,000
600,000
360,000
Dec-11
(1,000,000)
1,347,825
750,588
597,237
Jan-12
1,649,306
1,149,306
500,000
Feb-12
1,490,599
1,040,599
450,000
Mar-12
1,338,664
Apr-12
(1,528,959)
(2,000,000)
Capital Neto de Trabajo (Uso)
Dec-11
(1,000,000)
Jan-12
Feb-12
Mar-12
Apr-12
(1,528,959)
(2,000,000)
Capital Neto de Trabajo (Uso)
Jan-12
387,825
390,588
-2,763
0
0,599
0,599
000
Feb-12
Mar-12
Apr-12
May-12
Jun-12
4,725,265
7,005,833
11,731,098
4,779,215
7,458,750
12,237,965
4,550,851
7,509,583
12,060,434
4,552,251
7,460,000
12,012,251
4,619,068
7,410,417
12,029,485
3,075,958
1,560,000
7,095,139
11,731,098
0
3,288,616
1,510,000
7,439,349
12,237,965
0
3,212,186
3,927,623
4,920,625
12,060,434
0
3,395,756
3,342,763
5,273,732
12,012,251
0
3,342,272
3,047,287
5,639,926
12,029,485
0
Feb-12
Mar-12
Apr-12
May-12
Jun-12
1,649,306
7,005,833
8,655,139
1,490,599
7,458,750
8,949,349
1,338,664
7,509,583
8,848,248
1,156,495
7,460,000
8,616,495
1,276,796
7,410,417
8,687,213
500,000
1,060,000
7,095,139
8,655,139
0
450,000
1,060,000
7,439,349
8,949,349
0
2,867,623
1,060,000
4,920,625
8,848,248
0
2,282,763
1,060,000
5,273,732
8,616,495
0
1,987,287
1,060,000
5,639,926
8,687,213
0
Feb-12
1,649,306
1,149,306
500,000
Mar-12
1,490,599
1,040,599
450,000
Apr-12
1,338,664
(1,528,959)
2,867,623
May-12
1,156,495
(1,126,268)
2,282,763
Jun-12
1,276,796
(710,491)
1,987,287
2,867,623
2,282,763
1,338,664
Apr-12
(1,528,959)
1,987,287
1,276,796
1,156,495
May-12
(1,126,268)
Jun-12
(710,491)
1,387,990
1,093,326
(294,664)
Jul-12
934,891
804,062
130,830
Aug-12
776,808
565,473
211,336
Sep-12
Apr-12
(1,528,959)
May-12
(1,126,268)
Jun-12
(710,491)
(294,664)
Jul-12
130,830
Aug-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
301,482
398,718
-97,237
0
-158,707
-108,707
-50,000
0
-151,934
-2,569,557
2,417,623
0
-182,170
402,690
-584,860
0
120,302
415,777
-295,476
0
Sep-12
934,891
804,062
130,830
12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
4,619,168
7,360,833
11,980,002
4,664,281
7,311,250
11,975,531
4,709,946
7,261,667
11,971,613
5,217,474
7,212,083
12,429,557
5,786,387
7,162,500
12,948,887
3,525,842
2,447,990
6,006,170
11,980,002
0
3,729,390
1,864,062
6,382,080
11,975,531
0
3,933,138
1,271,336
6,767,139
11,971,613
0
4,116,708
1,160,000
7,152,849
12,429,557
0
4,300,278
1,110,000
7,538,609
12,948,887
0
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
1,093,326
7,360,833
8,454,160
934,891
7,311,250
8,246,141
776,808
7,261,667
8,038,475
1,100,766
7,212,083
8,312,849
1,486,109
7,162,500
8,648,609
1,387,990
1,060,000
6,006,170
8,454,160
0
804,062
1,060,000
6,382,080
8,246,141
0
211,336
1,060,000
6,767,139
8,038,475
0
100,000
1,060,000
7,152,849
8,312,849
0
50,000
1,060,000
7,538,609
8,648,609
0
Jul-12
1,093,326
(294,664)
1,387,990
776,808
565,473
211,336
Sep-12
Aug-12
934,891
130,830
804,062
1,100,766
1,000,766
100,000
Oct-12
Sep-12
776,808
565,473
211,336
1,486,109
1,436,109
50,000
Nov-12
Oct-12
1,100,766
1,000,766
100,000
1,881,287
(0)
Dec-12
Nov-12
1,486,109
1,436,109
50,000
130,830
12
100,000
Sep-12
Oct-12
50,000
Nov-12
(0)
Dec-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
-183,470
415,827
-599,297
0
-158,435
425,493
-583,928
0
-158,083
434,643
-592,726
0
323,957
435,293
-111,336
0
385,343
435,343
-50,000
0
Dec-12
6,378,745
7,112,917
13,491,662
4,497,458
1,060,000
7,934,204
13,491,662
0
Dec-12
1,881,287
7,112,917
8,994,204
0
1,060,000
7,934,204
8,994,204
0
Dec-12
1,881,287
1,881,287
0
Dec-12
395,178
445,178
-50,000
0
Financiacin ($MM)
Pasivos Financieros
Patrimonio
Total
Estructura de Financiacin (%)
Pasivos Financieros
Patrimonio
Total
Costo (A.I)
Pasivos Financieros
Patrimonio
Costo (D.I)
Pasivos Financieros
Patrimonio
WACC (%)
Pasivos Financieros
Patrimonio
WACC (D.I) (%)
Jan-12
Feb-12
Mar-12
Apr-12
May-12
357,419.9
8,060,000
4.43%
365,233.3
8,400,741
4.35%
357,282.8
8,655,139
4.13%
374,133.1
8,949,349
4.18%
365,435.9
8,848,248
4.13%
Jan-12
1.28%
1.20%
34.53%
Feb-12
1.28%
1.20%
34.00%
Mar-12
1.30%
1.20%
34.48%
Apr-12
0.71%
1.20%
33.40%
May-12
0.51%
1.20%
33.91%
1,660,000
6,400,000
8,060,000
1,657,237
6,743,505
8,400,741
1,560,000
7,095,139
8,655,139
1,510,000
7,439,349
8,949,349
3,927,623
4,920,625
8,848,248
21%
79%
100%
20%
80%
100%
18%
82%
100%
17%
83%
100%
44%
56%
100%
1.28%
1.20%
1.28%
1.20%
1.30%
1.20%
0.71%
1.20%
0.51%
1.20%
0.84%
1.20%
0.85%
1.20%
0.85%
1.20%
0.47%
1.20%
0.34%
1.20%
0.17%
0.95%
1.13%
0.17%
0.96%
1.13%
0.15%
0.98%
1.14%
0.08%
1.00%
1.08%
0.15%
0.67%
0.82%
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
378,239.4
8,616,495
4.39%
377,855.1
8,687,213
4.35%
387,181.9
8,454,160
4.58%
395,977.7
8,246,141
4.80%
396,191.3
8,038,475
4.93%
Jun-12
0.56%
1.20%
33.10%
Jul-12
0.63%
1.20%
33.10%
Aug-12
0.77%
1.20%
32.52%
Sep-12
1.02%
1.20%
32.00%
Oct-12
1.27%
1.20%
31.96%
3,342,763
5,273,732
8,616,495
3,047,287
5,639,926
8,687,213
2,447,990
6,006,170
8,454,160
1,864,062
6,382,080
8,246,141
1,271,336
6,767,139
8,038,475
39%
61%
100%
35%
65%
100%
29%
71%
100%
23%
77%
100%
16%
84%
100%
0.56%
1.20%
0.63%
1.20%
0.77%
1.20%
1.02%
1.20%
1.27%
1.20%
0.38%
1.20%
0.42%
1.20%
0.52%
1.20%
0.70%
1.20%
0.86%
1.20%
0.15%
0.73%
0.88%
0.15%
0.78%
0.93%
0.15%
0.85%
1.00%
0.16%
0.93%
1.09%
0.14%
1.01%
1.15%
Nov-12
Dec-12
395,799.4
8,312,849
4.76%
405,269.0
8,648,609
4.69%
Nov-12
1.30%
1.20%
31.96%
Dec-12
1.30%
1.20%
31.41%
1,160,000
7,152,849
8,312,849
1,110,000
7,538,609
8,648,609
14%
86%
100%
13%
87%
100%
1.30%
1.20%
1.30%
1.20%
0.88%
1.20%
0.89%
1.20%
0.12%
1.03%
1.16%
0.11%
1.05%
1.16%
Jan-12
357,419.9
8,060,000
1.1%
266,692.95
Jan-12
8,060,000
4.4%
1.1%
266,692.95
Jan-12
343,504.5
6,400,000
1.20%
266,704.54
545939.5
21255.0
76800.0
447884.5
181180.0
266704.5
266,704.54
545939.5
21255.0
524684.5
181180.0
343504.5
76800.0
266,704.54
Jan-12
6,400,000.0
1.20%
76,800.0
283,807.4
207,007.4
1660000.0
0.84%
13927.0
73612.5
59685.6
266,692.95
Feb-12
Mar-12
Apr-12
May-12
Jun-12
365,233.3
8,400,741
1.1%
270,301.86
357,282.8
8,655,139
1.1%
258,854.70
374,133.1
8,949,349
1.1%
277,720.19
365,435.9
8,848,248
0.8%
293,067.65
378,239.4
8,616,495
0.9%
302,352.30
Feb-12
Mar-12
Apr-12
May-12
Jun-12
8,400,741
4.3%
1.1%
270,301.86
8,655,139
4.1%
1.1%
258,854.70
8,949,349
4.2%
1.1%
277,720.19
8,848,248
4.1%
0.8%
293,067.65
8,616,495
4.4%
0.9%
302,352.30
Feb-12
Mar-12
Apr-12
May-12
Jun-12
351,634.9
6,743,505
1.20%
270,712.86
344,209.3
7,095,139
1.20%
259,067.62
361,276.0
7,439,349
1.20%
272,003.77
353,106.9
4,920,625
1.20%
294,059.44
366,194.1
5,273,732
1.20%
302,909.28
553419.9
20605.0
80922.1
451892.9
181180.0
270712.9
270,712.86
545344.3
19955.0
85141.7
440247.6
181180.0
259067.6
259,067.62
561761.0
19305.0
89272.2
453183.8
181180.0
272003.8
272,003.77
552941.9
18655.0
59047.5
475239.4
181180.0
294059.4
294,059.44
565379.1
18005.0
63284.8
484089.3
181180.0
302909.3
302,909.28
553419.9
20605.0
532814.9
181180.0
351634.9
545344.3
19955.0
525389.3
181180.0
344209.3
561761.0
19305.0
542456.0
181180.0
361276.0
552941.9
18655.0
534286.9
181180.0
353106.9
565379.1
18005.0
547374.1
181180.0
366194.1
80922.1
270,712.86
85141.7
259,067.62
89272.2
272,003.77
59047.5
294,059.44
63284.8
302,909.28
Feb-12
Mar-12
Apr-12
May-12
Jun-12
6,743,504.5
1.20%
80,922.1
293,182.8
212,260.7
7,095,139.5
1.20%
85,141.7
292,886.3
207,744.6
7,439,348.7
1.20%
89,272.2
311,006.6
221,734.4
4,920,624.7
1.20%
59,047.5
203,223.6
144,176.1
5,273,731.6
1.20%
63,284.8
231,501.7
168,216.9
1657236.6
1560000.0
1510000.0
3927623.0
3342763.1
0.85%
14009.4
0.85%
13286.5
0.47%
7140.7
0.34%
13320.8
0.38%
12602.3
72050.6
58041.1
64396.6
51110.1
63126.5
55985.8
162212.3
148891.5
146737.7
134135.4
270,301.86
258,854.70
277,720.19
293,067.65
302,352.30
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
377,855.1
8,687,213
0.9%
297,298.69
387,181.9
8,454,160
1.0%
302,309.36
395,977.7
8,246,141
1.1%
306,410.88
396,191.3
8,038,475
1.1%
304,024.14
395,799.4
8,312,849
1.2%
299,704.46
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
8,687,213
4.3%
0.9%
297,298.69
8,454,160
4.6%
1.0%
302,309.36
8,246,141
4.8%
1.1%
306,410.88
8,038,475
4.9%
1.1%
304,024.14
8,312,849
4.8%
1.2%
299,704.46
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
366,244.1
5,639,926
1.20%
298,564.95
375,909.8
6,006,170
1.20%
303,835.81
385,059.8
6,382,080
1.20%
308,474.83
385,709.8
6,767,139
1.20%
304,504.11
385,759.8
7,152,849
1.20%
299,925.59
564779.1
17355.0
67679.1
479745.0
181180.0
298564.9
298,564.95
573794.8
16705.0
72074.0
485015.8
181180.0
303835.8
303,835.81
582294.8
16055.0
76585.0
489654.8
181180.0
308474.8
308,474.83
582294.8
15405.0
81205.7
485684.1
181180.0
304504.1
304,504.11
581694.8
14755.0
85834.2
481105.6
181180.0
299925.6
299,925.59
564779.1
17355.0
547424.1
181180.0
366244.1
573794.8
16705.0
557089.8
181180.0
375909.8
582294.8
16055.0
566239.8
181180.0
385059.8
582294.8
15405.0
566889.8
181180.0
385709.8
581694.8
14755.0
566939.8
181180.0
385759.8
67679.1
298,564.95
72074.0
303,835.81
76585.0
308,474.83
81205.7
304,504.11
85834.2
299,925.59
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
5,639,925.7
1.20%
67,679.1
245,311.7
177,632.6
6,006,169.8
1.20%
72,074.0
275,069.4
202,995.3
6,382,079.6
1.20%
76,585.0
306,465.9
229,880.9
6,767,139.4
1.20%
81,205.7
333,531.1
252,325.5
7,152,849.2
1.20%
85,834.2
340,568.4
254,734.2
3047287.3
2447990.0
1864061.6
1271335.7
1160000.0
0.42%
12877.3
0.52%
12798.5
0.70%
12981.8
0.86%
10961.5
0.88%
10260.8
132543.4
119666.1
112112.6
99314.0
89511.8
76530.0
62660.2
51698.7
55231.0
44970.2
297,298.69
302,309.36
306,410.88
304,024.14
299,704.46
Dec-12
405,269.0
8,648,609
1.2%
304,908.51
Dec-12
8,648,609
4.7%
1.2%
304,908.51
Dec-12
395,594.7
7,538,609
1.20%
305,131.42
590879.7
14105.0
90463.3
486311.4
181180.0
305131.4
305,131.42
590879.7
14105.0
576774.7
181180.0
395594.7
90463.3
305,131.42
Dec-12
7,538,609.0
1.20%
90,463.3
353,255.0
262,791.7
1110000.0
0.89%
9897.2
52014.0
42116.8
304,908.51
Feb-12
($000)
Mar-12
($000)
Apr-12
($000)
May-12
($000)
Jun-12
($000)
Jul-12
($000)
Aug-12
($000)
Sep-12
($000)
Oct-12
($000)
Nov-12
($000)
Dec-12
($000)
ACTIVIDADES DE OPERACIN
Ingresos Generados por la Operacin
Ingresos Operacionales (Recaudo de Cartera)
Otras Cuentas por Cobrar y Otros Activos Corrientes
Ingresos No Operacionales
Anticipo de Clientes
Total Ingresos Generados por la Operacin
4,700,000
4,700,000
4,824,000
4,824,000
4,884,360
4,884,360
4,920,720
4,920,720
4,920,720
4,920,720
4,957,625
4,957,625
4,994,531
4,994,531
5,019,503
5,019,503
5,069,698
5,069,698
5,094,921
5,094,921
5,094,921
5,094,921
5,120,395
5,120,395
#REF!
(174,931)
#REF!
(21,255)
(1,500)
(2,000)
#REF!
(3,872,000)
(256,916)
(196,440)
(20,605)
(131,500)
(2,000)
(4,479,462)
(3,926,880)
(169,550)
(209,277)
(19,955)
(8,500)
(2,000)
(4,336,161)
(3,936,576)
(169,550)
(197,777)
(19,305)
(261,500)
(2,000)
(4,586,707)
(3,936,576)
(178,452)
(197,277)
(18,655)
(1,500)
(2,000)
(4,334,460)
(3,985,783)
(186,507)
(198,125)
(18,005)
(261,500)
(2,000)
(4,651,921)
(3,995,625)
(179,928)
(198,725)
(17,355)
(1,500)
(2,000)
(4,395,133)
(4,028,922)
(180,927)
(198,700)
(16,705)
(1,500)
(2,000)
(4,428,754)
(4,069,211)
(181,936)
(199,280)
(16,055)
(1,500)
(2,000)
(4,469,982)
(4,075,937)
(181,936)
(199,280)
(15,405)
(1,500)
(2,000)
(4,476,058)
(4,075,937)
(181,936)
(199,880)
(14,755)
(1,500)
(2,000)
(4,476,008)
(4,109,903)
(189,725)
(199,866)
(14,105)
(1,500)
(2,000)
(4,517,098)
503,926
344,538
548,199
334,013
586,260
305,705
599,397
590,750
599,717
618,863
618,913
603,297
(500,000)
(500,000)
(100,000)
(100,000)
(50,000)
(50,000)
2,417,623
(2,880,000)
(462,377)
Actividades de Inversin
Efectivo Provisto (Demandado) por las actividades de inversin:
Disminucin (Aumento) Propiedad, Planta y Equipo
Disminucin (Aumento) Activos Diferidos
Disminucin (Aumento) Otros Activos No Corrientes
Disminucin (Aumento) Valorizaciones
Disminucin (Aumento) Inversiones Permanentes
Flujo de Efectivo Neto en Actividades de Inversin:
Actividades de Financiacin
Efectivo Provisto (Demandado) por las actividades de financiacin:
Aumento (Disminucin) Pasivos Financieros (Corto Plazo)
Aumento (Disminucin) Pasivos Financieros (Largo Plazo)
Aumento (Disminucin) Proveedores y Cuentas por Pagar (Largo Plazo)
Aumento (Disminucin) Crdito por Correccin Monetaria Diferida
Dividendos
Aumento (Disminucin) Supervit por valorizaciones
Aumento (Disminucin) en Capital Suscrito y Pagado
Aumento (Disminucin) en Revalorizacin Patrimonial
Flujo de Efectivo Neto en Actividade Financiacin
(2,763)
(2,763)
(97,237)
(97,237)
(584,860)
(584,860)
(295,476)
(295,476)
(599,297)
(599,297)
(583,928)
(583,928)
(592,726)
(592,726)
(111,336)
(111,336)
501,163
247,302
(1,801)
(228,364)
1,400
10,229
100
200,000
701,163
948,465
946,663
718,299
719,699
729,928
701,163
0
948,465
0
946,663
0
718,299
0
719,699
0
729,928
0
730,028
0
736,850
0
(50,000)
(50,000)
(50,000)
(50,000)
6,822
6,991
507,527
568,913
553,297
730,028
736,850
743,840
1,251,368
1,820,281
743,840
0
1,251,368
0
1,820,281
0
2,373,578
0
Feb-12
($000)
Mar-12
($000)
Apr-12
($000)
May-12
($000)
Jun-12
($000)
Jul-12
($000)
Aug-12
($000)
Sep-12
($000)
Oct-12
($000)
Nov-12
($000)
Dec-12
($000)
Actividades de Operacin
Utilidad del Ejercicio
Partidas que no afectan el efectivo:
(+) Gasto Depreciacin
(-) Retiro Depreciacin
(+) Amortizacin de Diferidos
(+)Provisin de Inversiones, Deudores y Otros Activos
(-/+) (Utilidad) Prdida en Venta Propiedad, Planta y Equipo
Efectivo Causado Generado en la Operacin (EGO)
343,505
47,083
45,000
2,083
390,588
351,635
47,083
45,000
2,083
398,718
344,209
47,083
45,000
2,083
391,293
(100,000)
20,000
(80,000)
(24,000)
(12,800)
(36,800)
(36,360)
(19,392)
(55,752)
20,000
(7,842)
181,180
193,338
19,200
(87,760)
51,180
(17,380)
29,088
2,390
181,180
212,658
361,276
49,167
47,083
2,083
410,443
353,107
49,583
47,500
2,083
402,690
366,194
49,583
47,500
2,083
415,777
366,244
49,583
47,500
2,083
415,827
375,910
49,583
47,500
2,083
425,493
385,060
49,583
47,500
2,083
434,643
(24,973)
(13,319)
(38,291)
(25,222)
(13,452)
(38,674)
385,710
49,583
47,500
2,083
435,293
385,760
49,583
47,500
2,083
435,343
395,595
49,583
47,500
2,083
445,178
(36,905)
(19,683)
(56,588)
2,390
(78,820)
(76,430)
2,390
181,180
183,570
29,524
(4,189)
(78,820)
(53,484)
2,390
181,180
183,570
19,978
2,390
181,180
203,548
20,178
2,390
181,180
203,748
2,390
181,180
183,570
2,390
181,180
183,570
(25,475)
(13,586)
(39,061)
20,380
(4,380)
181,180
197,180
113,338
(54,180)
156,906
(76,430)
183,570
(110,073)
183,570
165,257
165,074
183,570
183,570
158,119
503,926
344,538
548,199
334,013
586,260
305,705
599,397
590,750
599,717
618,863
618,913
603,297
(500,000)
(500,000)
(100,000)
(100,000)
(50,000)
(50,000)
2,417,623
(2,880,000)
(462,377)
Actividades de Inversin
Efectivo Provisto (Demandado) por las actividades de inversin:
Disminucin (Aumento) Propiedad, Planta y Equipo
Disminucin (Aumento) Activos Diferidos
Disminucin (Aumento) Otros Activos No Corrientes
Disminucin (Aumento) Inversiones
Disminucin (Aumento) Valorizaciones
Flujo de Efectivo Neto en Actividades de Inversin:
Actividades de Financiacin
Efectivo Provisto (Demandado) por las actividades de financiacin:
Aumento (Disminucin) Pasivos Financieros (Corto Plazo)
Aumento (Disminucin) Pasivos Financieros (Largo Plazo)
Aumento (Disminucin) Proveedores y Cuentas por Pagar (Largo Plazo)
Aumento (Disminucin) Crdito por Correccin Monetaria Diferida
Dividendos
Readquisicin de Acciones
Aumento (Disminucin) en Capital Suscrito y Pagado
Aumento (Disminucin) en Revalorizacin Patrimonial
Flujo de Efectivo Neto en Actividade Financiacin
(2,763)
(2,763)
(97,237)
(97,237)
(584,860)
(584,860)
(295,476)
(295,476)
(599,297)
(599,297)
(583,928)
(583,928)
(592,726)
(592,726)
(111,336)
(111,336)
501,163
247,302
(1,801)
(228,364)
1,400
10,229
100
200,000
701,163
948,465
946,663
718,299
719,699
729,928
701,163
0
948,465
0
946,663
0
718,299
0
719,699
0
729,928
0
730,028
0
736,850
0
(50,000)
(50,000)
(50,000)
(50,000)
6,822
6,991
507,527
568,913
553,297
730,028
736,850
743,840
1,251,368
1,820,281
743,840
0
1,251,368
0
1,820,281
0
2,373,578
0
Feb-12
($000)
(%)
Mar-12
($000)
(%)
Apr-12
($000)
(%)
May-12
($000)
(%)
Jun-12
($000)
(%)
Jul-12
($000)
(%)
Aug-12
($000)
(%)
Sep-12
($000)
(%)
Oct-12
($000)
(%)
Nov-12
($000)
(%)
Dec-12
($000)
(%)
FUENTE DE FONDOS
Caja, Bancos
Inversiones Temporales
0
0
0%
0%
0
0
0%
0%
1,801
0
0%
0%
228,364
0
49%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
20,000
0%
3%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
45,000
0%
7%
0
45,000
0%
10%
0
0
0%
0%
0
0
0%
0%
0
47,500
0%
10%
0
47,500
0%
10%
0
47,500
0%
10%
0
47,500
0%
10%
0
47,500
0%
10%
0
47,500
0%
10%
0
47,500
0%
10%
0
47,500
0%
10%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
2,083
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
67,083
11%
47,083
10%
3,885
1%
230,448
49%
49,583
11%
49,583
11%
49,583
11%
49,583
11%
49,583
11%
49,583
11%
49,583
11%
49,583
11%
0
20,000
0%
3%
0
19,200
0%
4%
0
29,088
0%
6%
2,417,623
0
515%
0%
0
0
0%
0%
0
29,524
0%
6%
0
0
0%
0%
0
19,978
0%
4%
0
20,178
0%
4%
0
0
0%
0%
0
0
0%
0%
0
20,380
0%
4%
Obligaciones Laborales
Impuesto de renta
0
181,180
0%
30%
0
51,180
0%
11%
2,390
181,180
1%
39%
2,390
0
1%
0%
2,390
181,180
1%
39%
0
0
0%
0%
2,390
181,180
1%
39%
2,390
181,180
1%
39%
2,390
181,180
1%
39%
2,390
181,180
1%
39%
2,390
181,180
1%
39%
0
181,180
0%
39%
Pasivos estimados
Otros Pasivos Fiscales
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
201,180
0%
33%
0
70,380
0%
15%
0
212,658
0%
45%
0
2,420,013
0%
516%
0
183,570
0%
39%
0
29,524
0%
6%
0
183,570
0%
39%
0
203,548
0%
43%
0
203,748
0%
43%
0
183,570
0%
39%
0
183,570
0%
39%
0
201,560
0%
43%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
343,505
0
56%
0%
351,635
0
75%
0%
344,209
0
73%
0%
0
0
0%
0%
353,107
0
75%
0%
366,194
0
78%
0%
366,244
0
78%
0%
375,910
0
80%
0%
385,060
0
82%
0%
385,710
0
82%
0%
385,760
0
82%
0%
395,595
0
84%
0%
Revalorizacin Patrimonial
Total Aumento de Patrimonio
0
343,505
0%
56%
0
351,635
0%
75%
0
344,209
0%
73%
0
0
0%
0%
0
353,107
0%
75%
0
366,194
0%
78%
0
366,244
0%
78%
0
375,910
0%
80%
0
385,060
0%
82%
0
385,710
0%
82%
0
385,760
0%
82%
0
395,595
0%
84%
611,768
100%
469,098
100%
560,752
120%
2,650,461
565%
586,260
125%
445,302
95%
599,397
128%
629,041
###
638,391
136%
618,863
###
618,913
132%
646,738
138%
Caja, Bancos
501,163
Inversiones Temporales
Cuentas por Cobrar Clientes
APLICACIN DE FONDOS
82%
247,302
53%
0%
0%
1,400
0%
10,229
2%
100
0%
6,822
1%
6,991
1%
507,527
108%
568,913
121%
553,297
118%
0
100,000
0%
16%
0
24,000
0%
5%
0
36,360
0%
8%
0
0
0%
0%
0
0
0%
0%
0
36,905
0%
8%
0
0
0%
0%
0
24,973
0%
5%
0
25,222
0%
5%
0
0
0%
0%
0
0
0%
0%
0
25,475
0%
5%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
Inventarios
Gastos Prepagados
0
0
0%
0%
12,800
0
3%
0%
19,392
0
4%
0%
0
0
0%
0%
0
0
0%
0%
19,683
0
4%
0%
0
0
0%
0%
13,319
0
3%
0%
13,452
0
3%
0%
0
0
0%
0%
0
0
0%
0%
13,586
0
3%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
455,000
0
97%
0%
52,917
0
11%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
Cargos diferidos
Otros Activos No Corrientes
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
601,163
0%
98%
0
284,102
0%
61%
0
510,752
0%
109%
0
52,917
0%
11%
0
1,400
0%
0%
0
66,817
0%
14%
0
100
0%
0%
0
45,113
0%
10%
0
45,665
0%
10%
0
507,527
0%
###
0
568,913
0%
121%
0
592,358
0%
126%
2,763
295,476
Proveedores
Obligaciones Laborales
Valorizaciones
Total Aumento de Activos
0%
97,237
21%
50,000
11%
0%
584,860
125%
63%
599,297
128%
583,928
124%
592,726
126%
111,336
24%
50,000
11%
50,000
11%
0
7,842
0%
1%
0
87,760
0%
19%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
4,189
0%
1%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
4,380
0%
1%
Impuesto de renta
Pasivos estimados
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
78,820
0
17%
0%
0
0
0%
0%
78,820
0
17%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
10,605
2%
184,997
39%
50,000
11%
78,820
17%
584,860
125%
378,484
81%
599,297
128%
583,928
###
592,726
126%
111,336
24%
50,000
11%
54,380
12%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
2,518,724
0%
537%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0
0
0%
0%
0%
0%
0%
2,518,724
537%
0%
0%
0%
0%
0%
0%
0%
0%
611,768
100%
469,098
100%
560,752
120%
2,650,461
565%
586,260
125%
445,302
95%
599,397
128%
629,041
###
638,391
136%
618,863
###
618,913
132%
646,738
138%
0%
0%
Feb-12
($000)
($000)
Caja, Bancos
Inversiones Temporales
20,000
Gastos Prepagados
Inversiones Permanentes
45,000
45,000
FUENTE DE FONDOS
Disminucin de Activos
Inventarios
Gasto Depreciacin
Gasto Amortizacin Diferidos
2,083
2,083
Valorizaciones
67,083
47,083
Aumento de Pasivos
Obligaciones Financieras (Corto Plazo)
Proveedores
Obligaciones Laborales
20,000
19,200
Impuesto de renta
181,180
51,180
Pasivos estimados
0
201,180
0
70,380
343,505
351,635
Revalorizacin Patrimonial
Total Aumento de Patrimonio
0
343,505
0
351,635
611,768
469,098
501,163
247,302
Utilidad Neta
APLICACIN DE FONDOS
Aumento de Activos
Caja, Bancos
Inversiones Temporales
100,000
24,000
Inventarios
12,800
Gastos Prepagados
Inversiones Permanentes
Retiro depreciacin
Valorizaciones
0
601,163
0
284,102
2,763
97,237
7,842
87,760
Impuesto de renta
Pasivos estimados
0
10,605
0
184,997
Dividendos
0
0
0
0
611,768
469,098
Obligaciones Laborales
Revalorizacin Patrimonial
Total Disminucin de Patrimonio
TOTAL APLICACIN DE FONDOS
CIFRA DE CHEQUEO
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
221,180
70,380
214,459
2,648,377
183,570
29,524
183,570
203,548
203,748
183,570
183,570
201,560
FUENTE DE FONDOS
Corto Plazo
Total Fuentes de Fondos (Corto Plazo)
Largo Plazo
Inversiones Permanentes
Valorizaciones
Revalorizacin Patrimonial
390,588
398,718
391,293
410,443
402,690
415,777
415,827
425,493
434,643
435,293
435,343
445,178
611,768
469,098
605,752
3,058,820
586,260
445,302
599,397
629,041
638,391
618,863
618,913
646,738
611,768
469,098
105,752
78,820
586,260
445,302
599,397
629,041
638,391
618,863
618,913
646,738
Inversiones Permanentes
Valorizaciones
500,000
100,000
Revalorizacin Patrimonial
500,000
100,000
APLICACIN DE FONDOS
Corto Plazo
Total Aplicacin de Fondos (Corto Plazo)
Largo Plazo
2,880,000
611,768
469,098
605,752
3,058,820
586,260
445,302
599,397
629,041
638,391
618,863
618,913
646,738
CIFRA DE CHEQUEO
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
($000)
390,588
398,718
391,293
410,443
402,690
415,777
415,827
425,493
434,643
435,293
435,343
445,178
390,588
398,718
391,293
410,443
402,690
415,777
415,827
425,493
434,643
435,293
435,343
445,178
500,000
100,000
Supervit (Dficit)
390,588
398,718
-108,707
310,443
402,690
415,777
415,827
425,493
434,643
435,293
435,343
445,178
NORMAL
NORMAL
ANORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
NORMAL
390,588
398,718
391,293
410,443
402,690
415,777
415,827
425,493
434,643
435,293
435,343
445,178
(-) Dividendos
Supervit (Dficit)
2,880,000
390,588
398,718
391,293
-2,469,557
402,690
415,777
415,827
425,493
434,643
435,293
435,343
445,178
Feb-12
($000)
Mar-12
($000)
Apr-12
($000)
May-12
($000)
Jun-12
($000)
Jul-12
($000)
Aug-12
($000)
Sep-12
($000)
Oct-12
($000)
Nov-12
($000)
Dec-12
($000)
343,505
45,000
2,083
390,588
351,635
45,000
2,083
398,718
344,209
45,000
2,083
391,293
361,276
47,083
2,083
410,443
353,107
47,500
2,083
402,690
366,194
47,500
2,083
415,777
366,244
47,500
2,083
415,827
375,910
47,500
2,083
425,493
385,060
47,500
2,083
434,643
385,710
47,500
2,083
435,293
385,760
47,500
2,083
435,343
395,595
47,500
2,083
445,178
Revalorizacin Patrimonial
Supervit por valorizaciones
390,588
398,718
391,293
410,443
500,000
100,000
402,690
415,777
415,827
425,493
434,643
435,293
435,343
445,178
Valorizaciones
Total aumento de activos no corrientes
500,000
100,000
390,588
398,718
Caja, Bancos
501,163
247,302
Inversiones Temporales
Cuentas por Cobrar Clientes
100,000
24,000
2,880,000
-
500,000
2,980,000
(108,707)
(2,569,557)
402,690
415,777
415,827
(1,801)
(228,364)
1,400
10,229
100
36,905
425,493
434,643
435,293
435,343
445,178
6,822
6,991
507,527
568,913
553,297
24,973
25,222
(20,000)
581,163
12,800
284,102
36,360
19,392
-
53,951
(228,364)
1,400
19,683
66,817
100
13,319
45,113
13,452
45,665
507,527
568,913
25,475
13,586
592,358
2,763
(20,000)
97,237
(19,200)
50,000
(29,088)
(2,417,623)
-
7,842
(181,180)
87,760
(51,180)
(2,390)
(181,180)
(2,390)
78,820
584,860
-
295,476
(29,524)
599,297
-
583,928
(19,978)
592,726
(20,178)
111,336
-
(2,390)
(181,180)
4,189
78,820
(2,390)
(181,180)
(2,390)
(181,180)
(2,390)
(181,180)
(2,390)
(181,180)
50,000
(2,390)
(181,180)
Pasivos estimados
Otros Pasivos Fiscales
50,000
(20,380)
4,380
(181,180)
-
(190,575)
114,617
(162,658)
(2,341,193)
401,290
348,960
415,727
380,380
388,978
(72,234)
(133,570)
(147,180)
390,588
398,718
(108,707)
(2,569,557)
402,690
415,777
415,827
425,493
434,643
435,293
435,343
445,178
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
545,940
45,000
0
0
2,083
593,023
(181,180)
(21,255)
390,588
553,420
45,000
0
0
2,083
600,503
(181,180)
(20,605)
398,718
545,344
45,000
0
0
2,083
592,428
(181,180)
(19,955)
391,293
561,761
47,083
0
0
2,083
610,928
(181,180)
(19,305)
410,443
(581,163)
(501,163)
(100,000)
0
0
20,000
0
0
193,338
20000
(7,842)
181,180
0
0
0
0
0
0
(387,825)
(284,102)
(53,951)
(247,302)
1,801
(24,000)
(36,360)
0
0
0
0
(12,800)
(19,392)
0
0
0
0
(17,380)
212,658
19200 29087.9999999998
(87,760)
2,390
51,180
181,180
0
0
0
0
0
0
0
0
0
0
0
0
(301,482)
158,707
228,364
228,364
0
0
0
0
0
0
(76,430)
0
2,390
(78,820)
0
0
0
0
0
0
151,934
552,942
47,500
0
0
2,083
602,525
(181,180)
(18,655)
402,690
565,379
47,500
0
0
2,083
614,962
(181,180)
(18,005)
415,777
564,779
47,500
0
0
2,083
614,362
(181,180)
(17,355)
415,827
573,795
47,500
0
0
2,083
623,378
(181,180)
(16,705)
425,493
582,295
47,500
0
0
2,083
631,878
(181,180)
(16,055)
434,643
582,295
47,500
0
0
2,083
631,878
(181,180)
(15,405)
435,293
581,695
47,500
0
0
2,083
631,278
(181,180)
(14,755)
435,343
590,880
47,500
0
0
2,083
640,463
(181,180)
(14,105)
445,178
(1,400)
(66,817)
(1,400)
(10,229)
0
(36,905)
0
0
0
0
0
(19,683)
0
0
0
0
183,570
(53,484)
0 29524.3199999996
2,390
(4,189)
181,180
(78,820)
0
0
0
0
0
0
0
0
0
0
0
0
182,170
(120,302)
(100)
(45,113)
(45,665)
(100)
(6,822)
(6,991)
0
(24,973)
(25,222)
0
0
0
0
0
0
0
(13,319)
(13,452)
0
0
0
0
0
0
183,570
203,548
203,748
0 19978.1232000003 20177.9044319997
2,390
2,390
2,390
181,180
181,180
181,180
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
183,470
158,435
158,083
(507,527)
(507,527)
0
0
0
0
0
0
183,570
0
2,390
181,180
0
0
0
0
0
0
(323,957)
(568,913)
(592,358)
(568,913)
(553,297)
0
(25,475)
0
0
0
0
0
(13,586)
0
0
0
0
183,570
197,180
0 20379.6834763205
2,390
(4,380)
181,180
181,180
0
0
0
0
0
0
0
0
0
0
0
0
(385,343)
(395,178)
2,763
97,237
550,000
562,377
584,860
295,476
599,297
583,928
592,726
111,336
50,000
50,000
0
0
0
0
0
0
0
0
0
0
(500,000)
0
0
0
(500,000)
(100,000)
0
0
0
(100,000)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,763
97,237
50,000
462,377
584,860
295,476
599,297
583,928
592,726
111,336
50,000
50,000
(2,763)
0
(2,763)
(97,237)
0
(97,237)
(50,000)
0
(50,000)
2,417,623
0
2,417,623
(584,860)
0
(584,860)
(295,476)
0
(295,476)
(599,297)
0
(599,297)
(583,928)
0
(583,928)
(592,726)
0
(592,726)
(111,336)
0
(111,336)
(50,000)
0
(50,000)
(50,000)
0
(50,000)
0
0
0
0
0
0
0
0
0
0
(2,880,000)
(2,880,000)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(2,763)
0
(97,237)
0
(50,000)
(0)
(462,377)
0
(584,860)
0
(295,476)
0
(599,297)
0
(583,928)
0
(592,726)
0
(111,336)
0
(50,000)
0
(50,000)
0
Feb-12
Mar-12
Apr-12
Jun-12
Jul-12
Sep-12
Oct-12
Nov-12
Dec-12
545,940
45,000
0
0
2,083
593,023
(181,180)
411,843
553,420
45,000
0
0
2,083
600,503
(181,180)
419,323
545,344
45,000
0
0
2,083
592,428
(181,180)
411,248
561,761
47,083
0
0
2,083
610,928
(181,180)
429,748
552,942
47,500
0
0
2,083
602,525
(181,180)
421,345
565,379
47,500
0
0
2,083
614,962
(181,180)
433,782
564,779
47,500
0
0
2,083
614,362
(181,180)
433,182
573,795
47,500
0
0
2,083
623,378
(181,180)
442,198
582,295
47,500
0
0
2,083
631,878
(181,180)
450,698
582,295
47,500
0
0
2,083
631,878
(181,180)
450,698
581,695
47,500
0
0
2,083
631,278
(181,180)
450,098
590,880
47,500
0
0
2,083
640,463
(181,180)
459,283
(80,000)
193,338
113,338
(36,800)
(17,380)
(54,180)
(55,752)
212,658
156,906
0
(76,430)
(76,430)
0
183,570
183,570
(56,588)
(53,484)
(110,073)
0
183,570
183,570
(38,291)
203,548
165,257
(38,674)
203,748
165,074
0
183,570
183,570
0
183,570
183,570
(39,061)
197,180
158,119
525,181
365,143
568,154
353,318
604,915
323,710
616,752
607,455
615,772
634,268
633,668
617,402
0
0
0
0
0
0
0
0
0
0
(500,000)
0
0
0
(500,000)
(100,000)
0
0
0
(100,000)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
525,181
365,143
68,154
253,318
604,915
323,710
616,752
607,455
615,772
634,268
633,668
617,402
(2,763)
0
(21,255)
(24,018)
(97,237)
0
(20,605)
(117,842)
(50,000)
0
(19,955)
(69,955)
2,417,623
0
(19,305)
2,398,318
(584,860)
0
(18,655)
(603,515)
(295,476)
0
(18,005)
(313,481)
(599,297)
0
(17,355)
(616,652)
(583,928)
0
(16,705)
(600,633)
(592,726) (111,336)
0
0
(16,055)
(15,405)
(608,781) (126,741)
(50,000)
0
(14,755)
(64,755)
(50,000)
0
(14,105)
(64,105)
501,163
0
247,302
0
(1,801)
(0)
2,651,636
0
1,400
(0)
10,229
0
100
0
6,822
(0)
568,913
0
553,297
0
May-12
Aug-12
6,991
(0)
507,527
0
1.4%
BASES
Dias
(%)
40878
200,000
0
16.7%
(200,000)
90
25.0%
2,300,000
0
(2,300,000)
12.5%
1,300,000
0
(1,300,000)
Materia Prima
Inventarios (Balance)
Inventarios (segn poltica) (%/Costo de ventas)
Dficit(Exceso)
701,163
#REF!
90
300.0%
2,400,000
14,400,000
12,000,000
948,465
709,716
2,424,000
14,544,000
12,120,000
60,000
60,000
0
45
150.0%
0.0%
0
0
0
0.0%
0
0
0
0.0%
0
0
0
0.0%
0
#REF!
#REF!
16.7%
(238,748)
300.0%
1,280,000
5,760,000
4,480,000
45
BASES
Dias
(%)
Feb-12
16.7%
#REF!
60,000
60,000
0
45
Producto en Proceso
Inventarios (Balance)
Inventarios (segn poltica) (%/Costo de ventas)
Dficit(Exceso)
BASES
Dias
(%)
Jan-12
90
BASES
Dias
(%)
Mar-12
946,663
724,281
300.0%
2,460,360
14,762,160
12,301,800
60,000
60,000
0
150.0%
1,292,800
5,817,600
4,524,800
0.0%
0
0
0
0.0%
0
0
0
90
45
BASES
Dias
(%)
Apr-12
718,299
717,965
16.7%
(222,382)
16.7%
(333)
300.0%
2,460,360
14,762,160
12,301,800
60,000
60,000
0
150.0%
1,312,192
5,904,864
4,592,672
0.0%
0
0
0
0.0%
0
0
0
90
45
BASES
Dias
(%)
May-12
719,699
719,366
300.0%
2,460,360
14,762,160
12,301,800
60,000
60,000
0
150.0%
1,312,192
5,904,864
4,592,672
0.0%
0
0
0
0.0%
0
0
0
90
45
BASES
Dias
(%)
Jun-12
729,928
732,875
16.7%
(333)
16.7%
2,947
300.0%
2,497,265
14,983,592
12,486,327
60,000
60,000
0
150.0%
1,312,192
5,904,864
4,592,672
0.0%
0
0
0
0.0%
0
0
0
90
45
BASES
Dias
(%)
Jul-12
730,028
729,695
16.7%
(333)
300.0%
2,497,265
14,983,592
12,486,327
60,000
60,000
0
150.0%
1,331,875
5,993,437
4,661,562
0.0%
0
0
0
0.0%
0
0
0
90
45
BASES
Dias
(%)
Aug-12
736,850
738,736
16.7%
1,886
300.0%
2,522,238
15,133,428
12,611,190
60,000
60,000
0
150.0%
1,331,875
5,993,437
4,661,562
0.0%
0
0
0
0.0%
0
0
0
90
45
BASES
Dias
(%)
Sep-12
743,840
745,749
16.7%
1,909
300.0%
2,547,460
15,284,763
12,737,302
60,000
60,000
0
150.0%
1,345,194
6,053,371
4,708,178
0.0%
0
0
0
0.0%
0
0
0
90
45
BASES
Dias
(%)
Oct-12
1,251,368
743,507
16.7%
(507,861)
300.0%
2,547,460
15,284,763
12,737,302
60,000
60,000
0
150.0%
1,358,646
6,113,905
4,755,259
0.0%
0
0
0
0.0%
0
0
0
90
45
BASES
Dias
(%)
Nov-12
1,820,281
743,607
16.7%
(1,076,674)
300.0%
2,547,460
15,284,763
12,737,302
60,000
60,000
0
150.0%
1,358,646
6,113,905
4,755,259
45
0.0%
0
0
0
0.0%
0
0
0
90
Dec-12
2,373,578
752,832
(1,620,746)
300.0%
2,572,935
15,437,610
12,864,675
60,000
60,000
0
60,000
60,000
0
150.0%
1,358,646
6,113,905
4,755,259
150.0%
1,372,232
6,175,044
4,802,812
0.0%
0
0
0
0.0%
0
0
0
0.0%
0
0
0
0.0%
0
0
0
90
45
Otros inventarios
Inventarios (Balance)
Inventarios (segn poltica) (%/Costo de ventas)
Dficit(Exceso)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Inventarios en trnsito
Inventarios (Balance)
Inventarios (segn poltica) (%/Costo de ventas)
Dficit(Exceso)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,292,800
5,817,600
4,524,800
1,312,192
5,904,864
4,592,672
1,312,192
5,904,864
4,592,672
1,312,192
5,904,864
4,592,672
1,331,875
5,993,437
4,661,562
1,331,875
5,993,437
4,661,562
1,345,194
6,053,371
4,708,178
1,358,646
6,113,905
4,755,259
1,358,646
6,113,905
4,755,259
1,358,646
6,113,905
4,755,259
1,372,232
6,175,044
4,802,812
Inventarios (Balance)
Inventarios (segn poltica) (%/Costo de ventas)
Dficit(Exceso)
1,300,000
0
(1,300,000)
90
25.0%
1,900,000
0
1,900,000
1,280,000
#REF!
#REF!
90
300.0%
1,000,000
1,000,000
0
1,920,000
#REF!
#REF!
90
300.0%
1,939,200
12,262,921
(10,323,721)
1,173,338
1,173,338
0
1,900,000
#REF!
90
300.0%
1,968,288
12,495,734
(10,527,446)
90
300.0%
1,968,288
12,403,058
(10,434,770)
90
300.0%
1,968,288
12,401,558
(10,433,270)
90
300.0%
1,997,812
12,640,299
(10,642,486)
90
300.0%
1,997,812
12,583,050
(10,585,238)
40878
Jan-12
Feb-12
Mar-12
2,037,968
12,825,650
(10,787,681)
90
300.0%
2,037,968
12,827,450
(10,789,481)
90
300.0%
2,058,348
12,990,445
(10,932,097)
1,895,170
1,895,170
0
2,078,740
2,078,740
0
2,262,310
2,262,310
0
2,439,110
2,439,110
0
(10,323,721)
(10,527,446)
(10,434,770)
(10,433,270)
(10,642,486)
(10,585,238)
(10,725,008)
(10,828,037)
(10,787,681)
(10,789,481)
(10,932,097)
Sep-12
Oct-12
Nov-12
Dec-12
948,465
946,663
718,299
719,699
729,928
730,028
736,850
743,840
1,251,368
1,820,281
2,373,578
0
2,460,360
1,312,192
60,000
0
2,460,360
1,312,192
60,000
0
2,460,360
1,312,192
60,000
0
2,497,265
1,331,875
60,000
0
2,497,265
1,331,875
60,000
0
2,522,238
1,345,194
60,000
0
2,547,460
1,358,646
60,000
0
2,547,460
1,358,646
60,000
0
2,547,460
1,358,646
60,000
0
2,572,935
1,372,232
60,000
Apr-12
May-12
Jun-12
Jul-12
Aug-12
3,860,000
4,441,163
4,725,265
4,779,215
4,550,851
4,552,251
4,619,068
4,619,168
4,664,281
4,709,946
5,217,474
5,786,387
6,378,745
Pasivos Operativos
Proveedores
Otros Pasivos Operativos
1,900,000
1,000,000
1,920,000
1,173,338
1,939,200
1,136,758
1,968,288
1,320,328
1,968,288
1,243,898
1,968,288
1,427,468
1,997,812
1,344,460
1,997,812
1,528,030
2,017,790
1,711,600
2,037,968
1,895,170
2,037,968
2,078,740
2,037,968
2,262,310
2,058,348
2,439,110
2,900,000
3,093,338
3,075,958
3,288,616
3,212,186
3,395,756
3,342,272
3,525,842
3,729,390
3,933,138
4,116,708
4,300,278
4,497,458
960,000
1,347,825
1,649,306
1,490,599
1,338,664
1,156,495
1,276,796
1,093,326
934,891
776,808
1,100,766
1,486,109
1,881,287
387,825
301,482
(158,707)
(151,934)
(182,170)
120,302
(183,470)
(158,435)
(158,083)
323,957
385,343
40878
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
3,860,000
4,441,163
4,725,265
4,779,215
4,550,851
4,552,251
4,619,068
4,619,168
4,664,281
4,709,946
5,217,474
5,786,387
6,378,745
395,178
Pasivos Operativos
Proveedores
Otros Pasivos Operativos
0
1,000,000
#REF!
1,173,338
12,262,921
1,136,758
12,495,734
1,320,328
12,403,058
1,243,898
12,401,558
1,427,468
12,640,299
1,344,460
12,583,050
1,528,030
12,742,798
1,711,600
12,866,005
1,895,170
12,825,650
2,078,740
12,827,450
2,262,310
12,990,445
2,439,110
1,000,000
#REF!
13,399,679
13,816,062
13,646,956
13,829,026
13,984,758
14,111,080
14,454,398
14,761,175
14,904,389
15,089,759
15,429,555
2,860,000
#REF!
(8,674,415)
(9,036,847)
(9,096,105)
(9,276,775)
(9,365,690)
(9,491,911)
(9,790,116)
(10,051,229)
(9,686,915)
(9,303,372)
(9,050,810)
#REF!
#REF!
(362,432)
(59,258)
(180,670)
(88,915)
(126,221)
(298,205)
(261,112)
364,313
383,543
252,563
40878
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Incremento anual
300.0%
1,711,600
1,711,600
0
0
2,424,000
1,292,800
60,000
90
1,528,030
1,528,030
0
701,163
2,037,968
12,866,005
(10,828,037)
1,344,460
1,344,460
0
0
2,400,000
1,280,000
60,000
300.0%
1,427,468
1,427,468
0
200,000
Incremento anual
90
1,243,898
1,243,898
0
0
2,300,000
1,300,000
60,000
Incremento anual
2,017,790
12,742,798
(10,725,008)
1,320,328
1,320,328
0
Inversiones Temporales
Cuentas por Cobrar Clientes
Inventarios
Otros Activos Corrientes Operativos
300.0%
1,136,758
1,136,758
0
90
0
0
0
60,000
#REF!
21,131,316
21,451,305
21,444,989
21,446,390
21,769,905
21,766,724
21,985,536
22,204,417
22,202,175
22,202,275
22,425,487
1,000,000
#REF!
13,399,679
13,816,062
13,646,956
13,829,026
13,984,758
14,111,080
14,454,398
14,761,175
14,904,389
15,089,759
15,429,555
(940,000)
#REF!
7,731,637
7,635,243
7,798,033
7,617,364
7,785,146
7,655,645
7,531,138
7,443,242
7,297,786
7,112,516
6,995,932
#REF!
#REF!
(96,394)
162,791
(180,670)
167,782
(129,502)
(124,506)
(87,896)
(145,456)
(185,270)
(116,584)
Patrimonio
Pasivos Financieros a Largo Plazo
Activos no Corrientes
Financiacion de Capital de Trabajo
Necesidad de capital de trabajo Real
Necesidad de capital de trabajo Ideal
Dec-11
($000)
6,400,000
1,060,000
7,100,000
360,000
Jan-12
($000)
6,743,505
1,060,000
7,052,917
750,588
Feb-12
($000)
7,095,139
1,060,000
7,005,833
1,149,306
Mar-12
($000)
7,439,349
1,060,000
7,458,750
1,040,599
Apr-12
($000)
4,920,625
1,060,000
7,509,583
(1,528,959)
May-12
($000)
5,273,732
1,060,000
7,460,000
(1,126,268)
Jun-12
($000)
5,639,926
1,060,000
7,410,417
(710,491)
Jul-12
($000)
6,006,170
1,060,000
7,360,833
(294,664)
Aug-12
($000)
6,382,080
1,060,000
7,311,250
130,830
Sep-12
($000)
6,767,139
1,060,000
7,261,667
565,473
Oct-12
($000)
7,152,849
1,060,000
7,212,083
1,000,766
Nov-12
($000)
7,538,609
1,060,000
7,162,500
1,436,109
Dec-12
($000)
7,934,204
1,060,000
7,112,917
1,881,287
2,860,000
(940,000)
#REF!
#REF!
(8,674,415)
7,731,637
(9,036,847)
7,635,243
(9,096,105)
7,798,033
(9,276,775)
7,617,364
(9,365,690)
7,785,146
(9,491,911)
7,655,645
(9,790,116)
7,531,138
(10,051,229)
7,443,242
(9,686,915)
7,297,786
(9,303,372)
7,112,516
(9,050,810)
6,995,932
Dec-11
($000)
(1,300,000)
Jan-12
($000)
#REF!
Feb-12
($000)
6,582,331
Mar-12
($000)
6,594,644
Apr-12
($000)
9,326,992
May-12
($000)
8,743,632
Jun-12
($000)
8,495,637
Jul-12
($000)
7,950,308
Aug-12
($000)
7,400,309
Sep-12
($000)
6,877,769
Oct-12
($000)
6,297,020
Nov-12
($000)
5,676,407
Dec-12
($000)
5,114,645
200,000
2,300,000
1,300,000
0
3,800,000
#REF!
(12,000,000)
#REF!
0
#REF!
238,748
(12,120,000)
(4,524,800)
0
(16,406,052)
222,382
(12,301,800)
(4,592,672)
0
(16,672,090)
333
(12,301,800)
(4,592,672)
0
(16,894,139)
333
(12,301,800)
(4,592,672)
0
(16,894,139)
(2,947)
(12,486,327)
(4,661,562)
0
(17,150,836)
333
(12,486,327)
(4,661,562)
0
(17,147,556)
(1,886)
(12,611,190)
(4,708,178)
0
(17,321,254)
(1,909)
(12,737,302)
(4,755,259)
0
(17,494,470)
507,861
(12,737,302)
(4,755,259)
0
(16,984,701)
1,076,674
(12,737,302)
(4,755,259)
0
(16,415,888)
1,620,746
(12,864,675)
(4,802,812)
0
(16,046,741)
2,500,000
0
#REF!
#REF!
(9,823,721)
0
(10,077,446)
0
(7,567,147)
0
(8,150,506)
0
(8,655,199)
0
(9,197,248)
0
(9,920,946)
0
(10,616,701)
0
(10,687,681)
0
(10,739,481)
0
(10,932,097)
0
10,000,000
7,731,637
7,798,033
7,635,243
7,617,364
7,785,146
7,655,645
(710,491)
Jun-12
(294,664)
Jul-12
7,531,138
7,443,242
7,297,786
7,112,516
6,995,932
5,000,000
2,860,000
0 360,000
(940,000)
Dec-11
1,149,306
750,588
Jan-12
Feb-12
1,040,599
Mar-12
Apr-12
(1,528,959)
(1,126,268)
May-12
(9,096,105)
(9,276,775)
565,473
130,830
Aug-12
Sep-12
1,881,287
1,436,109
1,000,766
Oct-12
Nov-12
Dec-12
(5,000,000)
(8,674,415)
(10,000,000)
(9,036,847)
(9,365,690)
(9,491,911)
(9,790,116)
(10,051,229)
(9,050,810)
(9,303,372)
(9,686,915)
(15,000,000)
Financiacion de Capital de Trabajo
Jan-12
($000)
Feb-12
($000)
Mar-12
($000)
Apr-12
($000)
May-12
($000)
Jun-12
($000)
Jul-12
($000)
Aug-12
($000)
Sep-12
($000)
Oct-12
($000)
Nov-12
($000)
Dec-12
($000)
(1,300,000)
200,000
2,300,000
1,300,000
0
0
0
2,500,000
#REF!
#REF!
0
#REF!
0
#REF!
0
#REF!
6,582,331
238,748
0
0
0
10,323,721
0
17,144,800
6,594,644
222,382
0
0
0
10,527,446
0
17,344,472
9,326,992
333
0
0
0
10,434,770
0
19,762,095
8,743,632
333
0
0
0
10,433,270
0
19,177,235
8,495,637
0
0
0
0
10,642,486
0
19,138,124
7,950,308
333
0
0
0
10,585,238
0
18,535,879
7,400,309
0
0
0
0
10,725,008
0
18,125,316
6,877,769
0
0
0
0
10,828,037
0
17,705,806
6,297,020
507,861
0
0
0
10,787,681
0
17,592,562
5,676,407
1,076,674
0
0
0
10,789,481
0
17,542,562
5,114,645
1,620,746
0
0
0
10,932,097
0
17,667,487
0
0
0
0
1,900,000
0
1,900,000
#REF!
12,000,000
#REF!
0
#REF!
0
#REF!
0
12,120,000
4,524,800
0
0
0
16,644,800
0
12,301,800
4,592,672
0
0
0
16,894,472
0
12,301,800
4,592,672
0
0
0
16,894,472
0
12,301,800
4,592,672
0
0
0
16,894,472
2,947
12,486,327
4,661,562
0
0
0
17,150,836
0
12,486,327
4,661,562
0
0
0
17,147,889
1,886
12,611,190
4,708,178
0
0
0
17,321,254
1,909
12,737,302
4,755,259
0
0
0
17,494,470
0
12,737,302
4,755,259
0
0
0
17,492,562
0
12,737,302
4,755,259
0
0
0
17,492,562
0
12,864,675
4,802,812
0
0
0
17,667,487
600,000
0
#REF!
#REF!
500,000
0
450,000
0
2,867,623
0
2,282,763
0
1,987,287
0
1,387,990
0
804,062
0
211,336
0
100,000
0
50,000
0
(0)
0
Jan-12
($000)
Feb-12
($000)
Mar-12
($000)
Apr-12
($000)
May-12
($000)
Jun-12
($000)
Jul-12
($000)
Aug-12
($000)
Sep-12
($000)
Oct-12
($000)
Nov-12
($000)
Dec-12
($000)
(940,000)
7,100,000
6,160,000
#REF!
7,052,917
#REF!
7,731,637
7,005,833
14,737,470
7,635,243
7,458,750
15,093,993
7,798,033
7,509,583
15,307,617
7,617,364
7,460,000
15,077,364
7,785,146
7,410,417
15,195,563
7,655,645
7,360,833
15,016,478
7,531,138
7,311,250
14,842,388
7,443,242
7,261,667
14,704,908
7,297,786
7,212,083
14,509,869
7,112,516
7,162,500
14,275,016
6,995,932
7,112,917
14,108,848
1,060,000
(1,300,000)
6,400,000
6,160,000
0
1,060,000
#REF!
6,743,505
#REF!
#REF!
1,060,000
6,582,331
7,095,139
14,737,470
0
1,060,000
6,594,644
7,439,349
15,093,993
0
1,060,000
9,326,992
4,920,625
15,307,617
0
1,060,000
8,743,632
5,273,732
15,077,364
0
1,060,000
8,495,637
5,639,926
15,195,563
0
1,060,000
7,950,308
6,006,170
15,016,478
0
1,060,000
7,400,309
6,382,080
14,842,388
0
1,060,000
6,877,769
6,767,139
14,704,908
0
1,060,000
6,297,020
7,152,849
14,509,869
0
1,060,000
5,676,407
7,538,609
14,275,016
0
1,060,000
5,114,645
7,934,204
14,108,848
0
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
($000)
545,940
45,000
0
2,083
593,023
181,180
21,255
390,588
($000)
553,420
45,000
0
2,083
600,503
181,180
20,605
398,718
($000)
545,344
45,000
0
2,083
592,428
181,180
19,955
391,293
($000)
561,761
47,083
0
2,083
610,928
181,180
19,305
410,443
($000)
552,942
47,500
0
2,083
602,525
181,180
18,655
402,690
($000)
565,379
47,500
0
2,083
614,962
181,180
18,005
415,777
($000)
564,779
47,500
0
2,083
614,362
181,180
17,355
415,827
390,588
NORMAL
789,306
NORMAL
1,180,599
NORMAL
1,591,041
NORMAL
1,993,732
NORMAL
2,409,509
NORMAL
2,825,336
NORMAL
Ingresos Operacionales
EBITDA
Margen EBITDA(%)
Jan-12
4,800,000
593,023
12.4%
Feb-12
4,848,000
600,503
12.4%
Mar-12
4,920,720
592,428
12.0%
Apr-12
4,920,720
610,928
12.4%
May-12
4,920,720
602,525
12.2%
Jun-12
4,994,531
614,962
12.3%
Jul-12
4,994,531
614,362
12.3%
Jan-12
2.3%
Feb-12
2.8%
Mar-12
2.5%
Apr-12
2.3%
May-12
2.0%
Jun-12
2.1%
Jul-12
1.8%
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
($000)
573,795
47,500
0
2,083
623,378
181,180
16,705
425,493
($000)
582,295
47,500
0
2,083
631,878
181,180
16,055
434,643
($000)
582,295
47,500
0
2,083
631,878
181,180
15,405
435,293
($000)
581,695
47,500
0
2,083
631,278
181,180
14,755
435,343
($000)
590,880
47,500
0
2,083
640,463
181,180
14,105
445,178
3,250,830
NORMAL
3,685,473
NORMAL
4,120,766
NORMAL
4,556,109
NORMAL
5,001,287
NORMAL
Aug-12
5,044,476
623,378
12.4%
Sep-12
5,094,921
631,878
12.4%
Oct-12
5,094,921
631,878
12.4%
Nov-12
5,094,921
631,278
12.4%
Dec-12
5,145,870
640,463
12.4%
Aug-12
1.5%
Sep-12
1.3%
Oct-12
1.8%
Nov-12
2.4%
Dec-12
3.0%
TOTAL
($000)
6,800,524
562,083
0
25,000
7,387,607
2,174,160
212,160
5,001,287
Jan-12
($000)
266,692.9
MACROINDUCTORES DE VALOR
FLUJO DE CAJA LIBRE
Flujo de Caja Libre Operativo
Generacin Operacional
Disminucin(Incremento) en capital de trabajo
Generacin de efectivo operativo (GEO)
Disminucin(Incremento) en Activos Fijos
Flujo de Caja Libre Operativo
390,588
(387,825)
2,763
2,763
(2,763)
-
(2,763)
RENTABILIDAD (%)
Rentabilidad sobre capital empleado con costo (ROCE)
4.43%
1.28%
1.20%
1.13%
3.31%
5.4%
CAPITAL DE TRABAJO
Capital de Trabajo (Fuente)
Capital de trabajo (Uso)
750,588
Jan-12
($000)
1,347,825
Feb-12
($000)
270,301.9
3,609
398,718
(301,482)
97,237
97,237
(97,237)
(97,237)
4.35%
1.28%
1.20%
1.13%
3.22%
5.2%
1,149,306
Feb-12
($000)
1,649,306