CASO TILSEN

FLUJO DE CAJA SIN FINANCIAMIENTO

AÑO -1 0 1
INGRESO DE OPERACIÓN 23,400,000
PRECIO TM 150
CANTIDAD TM 156,000
EGRESOS DE OPERACIÓN 13,830,000
GASTOS DE VENTA 2,390,000
GASTOS ADMINISTRATIVOS 1,250,000
GASTOS DE OPERACIÓN 10,190,000
AMORTIZACION DE INTANGIBLES 60,000
DEPRECIACION (10%) 1,050,000
EDIFICIOS 150,000
MAQUINARIA, EQUIPO Y ENSERES 900,000
EQUIPO
MUEBLES Y ENSERES
GANANCIAS OPERATIVAS GRAVABLES 0 0 8,460,000
IMPUESTOS (30%) 0 0 2,538,000
INGRESOS NO GRAVABLES
DEPRECIACION 1,050,000
AMORTIZACION DE INTANGIBLES 60,000
VALOR RESIDUAL
COSTOS DE INVERSION 1,500,000 11,440,000 2,800,000
INVERSION EN ACTIVOS FIJOS 1,250,000 10,250,000 1,950,000
TERRENOS 500,000 500,000
EDIFICIOS 750,000 750,000
MAQUINARIA, EQUIPO Y ENSERES 9,000,000
EQUIPO 1,950,000
MUEBLES Y ENSERES
INVERSIONES INTANGIBLES 250,000 250,000
INVERSION EN KW 940,000
CREDITOS RECIBIDOS
AMORTIZACION DE CREDITOS Y PRESTAMOS
FLUJO DE FONDOS NETOS 0 -21,940,000 3,222,000
CAJA ACUMULADA 0 -21,940,000 -18,718,000
BENEFICIOS 0 0 23,400,000
COSTOS 1,500,000 -11,440,000 19,258,000

BENEFICIO
VENTAS 0 0 23,400,000
VALOR RESIDUAL 0 0 0
INGRESOS NO GRAVABLES 0 0 0
INGRESOS TOTAL 0 0 23,400,000
COSTO
EGRESOS 0 0 13,830,000
INVERSION DE ACTIVOS 0 0 1,250,000
INVERSION INTANGIBLE 0 0 500,000
INVERSION KW 0 0 940,000
COSTO DE INVERSION 1,500,000 11,440,000 2,800,000
COSTO 1,500,000 -11,440,000 19,258,000

VAN S/. 9,292,041.03

TIR 25%
B/C 0.42
Pr 3 años 1 mes y 2 dias
PRa 3.09 años
PRm 1.10 meses
PRd 2.86 dias
 2 3 4
31,500,000 31,500,000 31,500,000
150 150 150
210,000 210,000 210,000
17,505,000 17,505,000 17,505,000
2,200,000 2,200,000 2,200,000
1,655,000 1,655,000 1,655,000
13,650,000 13,650,000 13,650,000
60,000 60,000 320,000 500,000 180,000 320,000
1,245,000 1,630,000 1,630,000
150,000 150,000 150,000
900,000 900,000 900,000
195,000 195,000 195,000
385,000 385,000
12,690,000 12,305,000 12,045,000
3,807,000 3,691,500 3,613,500
1,790,000
1,245,000 1,630,000 1,630,000
60,000 60,000 320,000
11,745,000 6,055,000 17,800,000 11,745,000
3,850,000
3,850,000 0 0

3,850,000

1,790,000 1,790,000 1,790,000

4,278,000 12,093,500 25,706,500 mas cerca en el año 3 19,593,500

7,500,000 16,371,500 37,800,000
31,500,000 31,500,000 45,035,000
26,012,000 21,196,500 21,118,500

31,500,000 31,500,000 31,500,000

0 0 11,745,000
0 0 1,790,000
31,500,000 31,500,000 45,035,000
17,505,000 17,505,000 17,505,000
10,250,000 1,950,000 3,850,000
0 0
1,790,000 1,790,000 1,790,000
0 0
26,012,000 21,196,500 21,118,500
 CASO TILSEN

FLUJO DE CAJA CON FINANCIAMIENTO

AÑO -1 0 1
INGRESO DE OPERACIÓN 23,400,000
PRECIO TM 150
CANTIDAD TM 156,000
EGRESOS DE OPERACIÓN 13,830,000
GASTOS DE VENTA 2,390,000
GASTOS ADMINISTRATIVOS 1,250,000
GASTOS DE OPERACIÓN 10,190,000
AMORTIZACION DE INTANGIBLES 60,000
DEPRECIACION (10%) 1,050,000
EDIFICIOS 150,000
MAQUINARIA, EQUIPO Y ENSERES 900,000
EQUIPO
MUEBLES Y ENSERES
GANANCIAS OPERATIVAS GRAVABLES 0 0 8,460,000
INTERESES 767,000
IMPUESTOS (30%) 0 0 2,538,000
INGRESOS NO GRAVABLES
DEPRECIACION 1,050,000
AMORTIZACION DE INTANGIBLES 60,000
VALOR RESIDUAL
COSTOS DE INVERSION 1,500,000 11,440,000 2,800,000
INVERSION EN ACTIVOS FIJOS 1,250,000 10,250,000 1,950,000
TERRENOS 500,000 500,000
EDIFICIOS 750,000 750,000
MAQUINARIA, EQUIPO Y ENSERES 9,000,000
EQUIPO 1,950,000
MUEBLES Y ENSERES
INVERSIONES INTANGIBLES 250,000 250,000
INVERSION EN KW 940,000
CREDITOS RECIBIDOS 1,200,000 8,400,000
AMORTIZACION DE CREDITOS Y PRESTAMOS
FLUJO DE FONDOS NETOS 1,200,000 -13,540,000 2,455,000
CAJA ACUMULADA 1,200,000 -12,340,000 -11,085,000
BENEFICIOS 0 0 23,400,000
COSTOS 1,500,000 -11,440,000 19,258,000

BENEFICIO
VENTAS 0 0 23,400,000
VALOR RESIDUAL 0 0 0
INGRESOS NO GRAVABLES 0 0 0
INGRESOS TOTAL 0 0 23,400,000

COSTO
EGRESOS 0 0 13,830,000
INVERSION DE ACTIVOS 0 0 1,250,000
INVERSION INTANGIBLE 0 0 500,000
INVERSION KW 0 0 940,000
COSTO DE INVERSION 1,500,000 11,440,000 2,800,000
COSTO 1,500,000 -11,440,000 19,258,000

VAN 10,021,350
TIR 34%
B/C 0.74
Pr 2 años 9 meses y 23 dias
PRa 2.81 años
PRm 9.77 meses
PRd 23.01 dias
 DATO
AÑOS
2 3 4 1
31,500,000 31,500,000 31,500,000 2
150 150 150 3
210,000 210,000 210,000 4
17,505,000 17,505,000 17,505,000 5
2,200,000 2,200,000 2,200,000 6
1,655,000 1,655,000 1,655,000 7
13,650,000 13,650,000 13,650,000 8
60,000 60,000 320,000 500,000 180,000 320,000
1,245,000 1,630,000 1,630,000
150,000 150,000 150,000
900,000 900,000 900,000
195,000 195,000 195,000
385,000 385,000
12,690,000 12,305,000 12,045,000
749,000 595,000 1,175,000
3,807,000 3,691,500 3,613,500
1,790,000
1,245,000 1,630,000 1,630,000
60,000 60,000 320,000
11,745,000 6,055,000 17,800,000 11,745,000
3,850,000
3,850,000 0 0

3,850,000

1,790,000 1,790,000 1,790,000

240,000 1,920,000 5,760,000

3,289,000 9,578,500 18,771,500 mas cerca en el año 2 5,744,000
5,744,000 12,867,500 28,350,000
31,500,000 31,500,000 45,035,000
26,012,000 21,196,500 21,118,500

31,500,000 31,500,000 31,500,000

0 0 11,745,000
0 0 1,790,000
31,500,000 31,500,000 45,035,000

17,505,000 17,505,000 17,505,000

10,250,000 1,950,000 3,850,000
0 0
1,790,000 1,790,000 1,790,000
0 0
26,012,000 21,196,500 21,118,500
 DATO
PRESTAMO AMORTIZACON INTERESES
1,200,000 - -
8,400,000 - -
- - 767,000
- 240,000 749,000
- 1,920,000 595,000
- 1,920,000 442,000
- 1,920,000 445,000
- 1,920,000 288,000
 CASO TILSEN

ESTADO DE GANANCIAS Y PERDIDAS CON PROYECTO

AÑO -1 0 1
INGRESO DE OPERACIÓN 23,400,000
PRECIO TM 150
CANTIDAD TM 156,000
EGRESOS DE OPERACIÓN 13,830,000
GASTOS DE VENTA 2,390,000
GASTOS ADMINISTRATIVOS 1,250,000
GASTOS DE OPERACIÓN 10,190,000
INTERESES 767,000
AMORTIZACION DE INTANGIBLES 60,000
DEPRECIACION (10%) 1,050,000
GANANCIAS OPERATIVAS GRAVABLES 0 0 7,693,000
IMPUESTOS (30%) 0 0 2,307,900
UTILIDAD DESPUES DE IMPUESTO 5,385,100

BALANCE GENERAL PROYECTADO

AÑO -1 0 1
ACTIVO 2,700,000 -340,000 1,755,000
ACTIVO CORRIENTE EN CAJA 1,200,000 -12,340,000 -11,085,000
ACTIVO NETO 1,250,000 11,500,000 12,400,000
ACTIVO INTANGIBLE 250,000 500,000 440,000
CAPITAL DE TRABAJO 940,000
PASIVO Y PATRIMONIO 1,500,000 12,000,000 12,000,000
DEUDA A LP 1,200,000 9,600,000 9,600,000
PATRIMONIO 300,000 2,400,000 2,400,000
VALOR RESIDUAL
UTILIDAD RETENIDA 5,385,100
CTO
2 3 4
31,500,000 31,500,000 31,500,000
150 150 150
210,000 210,000 210,000
17,505,000 17,505,000 17,505,000
2,200,000 2,200,000 2,200,000
1,655,000 1,655,000 1,655,000
13,650,000 13,650,000 13,650,000
749,000 595,000 1,175,000
60,000 60,000 320,000
1,245,000 1,630,000 1,630,000
11,941,000 11,710,000 10,870,000
3,582,300 3,513,000 3,261,000
8,358,700 8,197,000 7,609,000

2 3 4
21,129,000 26,562,500 40,095,000
5,744,000 12,867,500 28,350,000
15,005,000 13,375,000 11,745,000
380,000 320,000 0
2,730,000 4,520,000 6,310,000
11,760,000 9,840,000 2,400,000
9,360,000 7,440,000 0
2,400,000 2,400,000 2,400,000
11,745,000
13,743,800 21,940,800 29,549,800