Analiseprojeto

1.
Informaes Sobre o Projeto:

Nome:
Hotel dos hotis
Prazo de Anlise: 5 anos
i) Investimentos Fixos:
terreno
construo civil
equip. e instalaes
projetos, montagem e outros
TOTAL
ii) Faturamento Anual (100%):
iii) Dados Sobre Custos (100%):
materiais de uso operacional
mo de obra varivel e encargos
mo de obra fixa e encargos
pessoal administrativo e encargos
seguros
manuteno de equip
fretes s/materiais de uso operacional
comisses de vendas
Impostos
despesas financeiras
Energia eltrica, Outras desp.Op.var.

aluguis, serv. de terceiros
Outras Despesas Gerais Fixas
Outras Despesas Gerais Variveis
110,000.00 R$
350,000.00 R$
170,000.00 R$
30,000.00 R$
_______________
660,000.00 R$
400,000.00 R$
20,000.00 R$
24,000.00 R$
40,000.00 R$
24,000.00 R$
2.0% s/ c.civil, equip. e inst.
7.0% s/ equip. e inst.
0.0% s/ materiais.
0.0% s/ fat.
10.0% s/ vendas
0.0% s/ compras
50.0% vendido a prazo
0.0% descontado
0.0% ao ms
num.dias (vide item v)
10,000.00 R$
5,000.00 R$
1,000.00 R$
4,000.00 R$
iv) Implantao
prazo de implantao (1 ano)
Prazo de anlise (5 anos)
dias de operao no ano
v) Giro Prprio
dias faturamento ( caixa )
dias estoque materiais de uso oper.
prazo mdio dos fornecedores
prazo de clientes (s vendas a prazo)
360 Dia(s)
2 Dia(s)
20 Dia(s)
15 Dia(s)
45 Dia(s)
vi) Financiamento
percentual financiado
60.0% s/ inv. fixo - terreno
taxa de juros
10.0%
carncia
2 Ano(s)
amortizao
3 Ano(s)
OBS: no ultrapassar prazo de anlise (item iv)
vii) Outras
depreciao: construes
4.0% a.a s/ c. civil
equip. inst.
10.0% a.a. s/ equip. e inst.
amort. desp. pre-oper.
20.0% p/ amort. pre-oper.
dividendos
0.0% s/ lucro liq. depois do I.R.
I.R.
0.0%
Valor residual (fixo)
550,000.00
Utilizao da capacidade: preencher na planilha de custos
TMA
15.00 %aa
2. Resultados:
% Utilizao Capacidade
i) Estruturao de Custos
Custos operacionais variveis
50.0%
60.0%
Ano 01
Ano 02

fretes
12,000.00
10,000.00
0.00
5,000.00
14,400.00
12,000.00
0.00
6,000.00
27,000.00
32,400.00
40,000.00
10,400.00
11,900.00
5,000.00
40,000.00
10,400.00
11,900.00
5,000.00
67,300.00
94,300.00
67,300.00
99,700.00
67,300.00
24,000.00
1,000.00
67,300.00
24,000.00
1,000.00
92,300.00
92,300.00
27,000.00
20,000.00
0.00
0.00
2,000.00
32,400.00
24,000.00
0.00
0.00
2,400.00
subtotal 4
49,000.00
58,800.00
Total Geral dos Custos

Receitas
141,300.00
200,000.00
151,100.00
240,000.00
subtotal 1
Custos operacionais fixos
seguros
manuteno de equip.
subtotal 2
subtotal operacional
Despesas Gerais Fixas
custos operacional fixo
outras desp. gerais fixas
subtotal 3
Despesas Gerais Variveis
custo operacional varivel
Impostos (liquido)
comises de vendas
desp. financeiras
outras desp. gerais variveis
ii) Capital de Giro

Necessidades
disponibilidade
estoque de materiais de uso operacional
financ. de vendas
Total
Coberturas
credito de fornec.
duplic. descontadas
giro existente
adicional de giro
Total
1,111.11
555.56
1,333.33
666.67
12,500.00
15,000.00
14,166.67
17,000.00
416.67
0.00
500.00
0.00
13,750.00
13,750.00
2,750.00
14,166.67
17,000.00
A U X I L I A R - Planilha do Financiamento
Saldo Dev.Inic. Amortizaes
Ano 00
Ano 01
330,000.00
330,000.00
0.00
Ano 02
Ano 03
Ano 04
Ano 05
Ano 06
Ano 07
Ano 08
Ano 09
Ano 10
Ano 11
Ano 12
330,000.00
330,000.00
220,000.00
110,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
110,000.00
110,000.00
110,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
iii) Demonst.Result.Exerccio
ano1
ano2
_____________ ____________
Receitas
200,000.00
240,000.00
___________________________________ _____________ ____________
(-) custos operacionais
94,300.00
99,700.00
___________________________________ _____________ ____________
a) Variveis: m.o. var. e enc.
12,000.00
14,400.00
materiais
10,000.00
12,000.00
Fretes
0.00
0.00
outros
5,000.00
6,000.00
Total Dir.
27,000.00
32,400.00
b) Fixos: m.o.fixa e enc.
40,000.00
40,000.00
Segs.
10,400.00
10,400.00
Manut.
11,900.00
11,900.00
outros
5,000.00
5,000.00
Total Ind.
67,300.00
67,300.00
___________________________________ _____________ ____________
(=) margem bruta
105,700.00
140,300.00
___________________________________ _____________ ____________
(-) Desp. Gerais

_______________________________
a) Fixas: Pessoal. Adm.
outras
b) Variveis: Vendas
impostos
Financeiras
Outras
_____
Total Var.
(-) Juros de Financ.
(-) Depreciao e Amort.
de Desp. Pre-Operac.
_______________________________
(=) Lucro Liq. Antes I.R.
_______________________________
(-) I.R.
_______________________________
(=) Lucro Liq. Aps I.R.
_______________________________
Dividendos
ndices:
lucratividade (%)
rentabilidade (%)
47,000.00
51,400.00
_____________ ____________
24,000.00
24,000.00
1,000.00
1,000.00
0.00
0.00
20,000.00
24,000.00
0.00
0.00
2,000.00
2,400.00
_____________ ____________
22,000.00
26,400.00
33,000.00
33,000.00
37,000.00
37,000.00
_____________ ____________
-11,300.00
18,900.00
_____________ ____________
0.00
0.00
_____________ ____________
-11,300.00
18,900.00
_____________ ____________
0.00
0.00
-5.65
-3.29
7.88
5.45
-------------------------------------------------------- -------------------- -----------------iv) Quadro de Usos e Fontes

Ano 00
Ano 01
______________________________________ _____________ ____________
usos:
Fixo: terreno
const. civil
equip. inst.
projetos
Giro
_____________
Total
_________________________
fontes:
Financiamentos
Rec. Prprios
_____________
Total
110,000.00
350,000.00
170,000.00
30,000.00
13,750.00
2,750.00
_____________ ____________
673,750.00
2,750.00
_____________ ____________
330,000.00
343,750.00
2,750.00
_____________ ____________
673,750.00
2,750.00
-------------------------------------------------------- -------------------- -----------------v) Capacidade de Pagamento

Ano 01
Ano 02
___________________________________ _____________ ____________
lucro liq. antes I.R.
-11,300.00
18,900.00
(-) I.R.
0.00
0.00
(+) Depreciao e Amort.
37,000.00
37,000.00
(-) Dividendos
0.00
0.00
(-) Invest. Com Rec.Prprios
2,750.00
0.00
a (=) Saldo para Amortiz.
22,950.00
55,900.00
b (-) Amortizao
0.00
0.00
_____________________________
_____________ ____________
(=) Saldo Final
22,950.00
55,900.00
Saldo Acumulado
22,950.00
78,850.00
ndice utilizao capac.pagam(b/a)
0.00
0.00
-------------------------------------------------------- -------------------- ------------------
vi) Analise do Retorno
Ano 00
Ano 01
Receitas
(-) Custos Operacionais
_______________________________
C.O .V.
C.O .F.
200,000.00
94,300.00
_____________ ____________
27,000.00
67,300.00
(-) Desp. Gerais

_______________________________
fixas
variveis
46,000.00
_____________ ____________
24,000.00
22,000.00
(-) Juros do Financ.

(-) Deprec. + Amort.de desp.pr operac.
_______________________________
(=) Lucro Antes do I.R.
(-) I.R.
(+) Juros do Financ.
(+) Deprec. + Amort.desp. Pr oper.
_______________________________
(=) Fluxo Operacional do Empreend.
(-) Amort. Financ.
(-) Juros do financ.
_______________________________
33,000.00
37,000.00
_____________ ____________
-11,300.00
0.00
33,000.00
37,000.00
_____________ ____________
58,700.00
0.00
33,000.00
_____________ ____________
(=) Fluxo Operacional do Acionista

25,700.00
________________________________
____________________
_____________________
(-) Rec. Prprios
343,750.00
2,750.00
(-) Investimento
673,750.00
2,750.00
(+) Financ.
330,000.00
0.00
_______________________________
_____________ ____________
(=) Fx. Empr. Final
-673,750.00
55,950.00
(=) Fx. Acion. Final
-343,750.00
22,950.00
-------------------------------------------------------- -------------------- -----------------tir empreendimento(%aa)

10.95
tir acionista (%aa)
11.62
Avaliao:
VPL empreendimento
VPL acionista
-90904.21
-44207.24
VAUE empreendimento
VAUE acionista
-27118.14
-13187.71
ivil, equip. e inst.
ido a prazo
v. fixo - terreno
/ equip. e inst.
mort. pre-oper.
cro liq. depois do I.R.
60.0%
70.0%
70.0%
Ano 03
Ano 04
Ano 05
14,400.00
12,000.00
0.00
6,000.00
16,800.00
14,000.00
0.00
7,000.00
16,800.00
14,000.00
0.00
7,000.00
32,400.00
37,800.00
37,800.00
40,000.00
10,400.00
11,900.00
5,000.00
40,000.00
10,400.00
11,900.00
5,000.00
40,000.00
10,400.00
11,900.00
5,000.00
67,300.00
99,700.00
67,300.00
105,100.00
67,300.00
105,100.00
67,300.00
24,000.00
1,000.00
67,300.00
24,000.00
1,000.00
67,300.00
24,000.00
1,000.00
92,300.00
92,300.00
92,300.00
32,400.00
24,000.00
0.00
0.00
2,400.00
37,800.00
28,000.00
0.00
0.00
2,800.00
37,800.00
28,000.00
0.00
0.00
2,800.00
58,800.00
68,600.00
68,600.00
151,100.00
240,000.00
160,900.00
280,000.00
160,900.00
280,000.00
1,333.33
666.67
1,555.56
777.78
1,555.56
777.78
15,000.00
17,500.00
17,500.00
17,000.00
19,833.33
19,833.33
500.00
0.00
583.33
0.00
583.33
0.00
16,500.00
0.00
16,500.00
2,750.00
19,250.00
0.00
17,000.00
19,833.33
19,833.33
Juros
33,000.00
Prestaes
33,000.00
Saldo Final
330,000.00
33,000.00
33,000.00
22,000.00
11,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
33,000.00
143,000.00
132,000.00
121,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
330,000.00
220,000.00
110,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ano3
ano4
ano5
_____________ _____________ ____________________________________________________
240,000.00
280,000.00
280,000.00
_____________ _____________ ____________________________________________________
99,700.00
105,100.00
105,100.00
_____________ _____________ ____________________________________________________
14,400.00
16,800.00
16,800.00
12,000.00
14,000.00
14,000.00
0.00
0.00
0.00
6,000.00
7,000.00
7,000.00
32,400.00
37,800.00
37,800.00
40,000.00
40,000.00
40,000.00
10,400.00
10,400.00
10,400.00
11,900.00
11,900.00
11,900.00
5,000.00
5,000.00
5,000.00
67,300.00
67,300.00
67,300.00
_____________ _____________ ____________________________________________________
140,300.00
174,900.00
174,900.00
_____________ _____________ ____________________________________________________
51,400.00
55,800.00
55,800.00
_____________ _____________ ____________________________________________________
24,000.00
24,000.00
24,000.00
1,000.00
1,000.00
1,000.00
0.00
0.00
0.00
24,000.00
28,000.00
28,000.00
0.00
0.00
0.00
2,400.00
2,800.00
2,800.00
_____________ _____________ ____________________________________________________
26,400.00
30,800.00
30,800.00
33,000.00
22,000.00
11,000.00
37,000.00
37,000.00
37,000.00
_____________ _____________ ____________________________________________________
18,900.00
60,100.00
71,100.00
_____________ _____________ ____________________________________________________
0.00
0.00
0.00
_____________ _____________ ____________________________________________________
18,900.00
60,100.00
71,100.00
_____________ _____________ ____________________________________________________
0.00
0.00
0.00
7.88
5.45
21.46
17.21
25.39
20.36
------------------- -------------------- ------------------- ------------------ ------------------
Ano 02
Ano 03
Ano 04
Ano 05
Total
_____________ _____________ _____________ ______________________________________
110,000.00
350,000.00
170,000.00
30,000.00
0.00
2,750.00
0.00
0.00
19,250.00
_____________ _____________ _____________ ____________ ______________
0.00
2,750.00
0.00
0.00
679,250.00
_____________ _____________ _____________ ____________ ______________
330,000.00
0.00
2,750.00
0.00
0.00
349,250.00
_____________ _____________ _____________ ____________ ______________
0.00
2,750.00
0.00
0.00
679,250.00
------------------- -------------------- ------------------- ------------------ ------------------
Ano 03
Ano 04
Ano 05
_____________ _____________ ____________________________________________________
18,900.00
60,100.00
71,100.00
0.00
0.00
0.00
37,000.00
37,000.00
37,000.00
0.00
0.00
0.00
2,750.00
0.00
0.00
53,150.00
97,100.00
108,100.00
110,000.00
110,000.00
110,000.00
_____________ _____________ ____________________________________________________
-56,850.00
-12,900.00
-1,900.00
22,000.00
9,100.00
7,200.00
2.07
1.13
1.02
------------------- -------------------- -----------------------------------------------------------------------------
Ano 02
Ano 03
Ano 04
Ano 05
240,000.00
240,000.00
280,000.00
280,000.00
99,700.00
99,700.00
105,100.00
105,100.00
_____________ _____________ _____________ ______________________________________
32,400.00
32,400.00
37,800.00
37,800.00
67,300.00
67,300.00
67,300.00
67,300.00
51,400.00
51,400.00
55,800.00
55,800.00
_____________ _____________ _____________ ______________________________________
24,000.00
24,000.00
24,000.00
24,000.00
26,400.00
26,400.00
30,800.00
30,800.00
33,000.00
33,000.00
22,000.00
11,000.00
37,000.00
37,000.00
37,000.00
37,000.00
_____________ _____________ _____________ ______________________________________
18,900.00
18,900.00
60,100.00
71,100.00
0.00
0.00
0.00
0.00
33,000.00
33,000.00
22,000.00
11,000.00
37,000.00
37,000.00
37,000.00
37,000.00
_____________ _____________ _____________ ______________________________________
88,900.00
88,900.00
119,100.00
119,100.00
0.00
110,000.00
110,000.00
110,000.00
33,000.00
33,000.00
22,000.00
11,000.00
_____________ _____________ _____________ ______________________________________
55,900.00
-54,100.00
-12,900.00
-1,900.00
___________________
____________________
__________________
________________
0.00
2,750.00
0.00
-569,250.00
0.00
2,750.00
0.00
-569,250.00
0.00
0.00
0.00
0.00
_____________ _____________ _____________ ______________________________________
88,900.00
86,150.00
119,100.00
688,350.00
55,900.00
-56,850.00
-12,900.00
567,350.00
------------------- -------------------- ------------------- ---------------------------------------------------------
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_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
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__________
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1.Informaes Sobre o Projeto:

Nome: Hotel dos hotis
terreno
110,000.00 R$
construo civil
350,000.00 R$
equip. e instalaes
170,000.00 R$
30,000.00 R$
___________________________
TOTAL
660,000.00 R$
seguros
manuteno de equip
fretes s/materiais de uso operacional
comisses de vendas
Impostos

400,000.00 R$
20,000.00 R$
24,000.00 R$
40,000.00 R$
24,000.00 R$
0.0% s/ M.P.
0.0% s/ fat.
10.0% s/ vendas
0.0% s/ compras
0.0% descontado
0.0% ao ms
10,000.00 R$
5,000.00 R$
1,000.00 R$
4,000.00 R$
iv) Implantao
v) Giro Prprio
dias estoque materiais de uso oper.
prazo de clientes(s vendas a prazo)
360 Dia(s)
2 Dia(s)
20 Dia(s)
Dia(s)
15 Dia(s)
45 Dia(s)
Dia(s)
vi) Financiamento
60.0% s/ inv. fixo - terreno
taxa de juros
10.0%
carncia
2 Ano(s)
amortizao
6 Ano(s)
vii) Outras
equip. inst.
dividendos
I.R.
0.0%
300,000.00
TMA
15.00 %aa
2. Resultados:
Custos operacionais variveis
50.0%
60.0%
Ano 01
Ano 02

fretes
subtotal 1
Custos operacionais fixos
seguros
manuteno de equip.
aluguis, public., materiais exped.
subtotal 2
subtotal operacional
custos operacional fixo
subtotal 3
custo operacional varivel
Impostos (liquido)
comises de vendas
desp. financeiras
subtotal 4
Receitas
12,000.00
14,400.00
10,000.00
12,000.00
0.00
0.00
5,000.00
6,000.00
___________ ___________
27,000.00
32,400.00
40,000.00
40,000.00
10,400.00
10,400.00
11,900.00
11,900.00
5,000.00
5,000.00
___________ ___________
67,300.00
67,300.00
94,300.00
99,700.00
67,300.00
67,300.00
24,000.00
24,000.00
1,000.00
1,000.00
___________ ___________
92,300.00
92,300.00
27,000.00
32,400.00
20,000.00
24,000.00
0.00
0.00
0.00
0.00
2,000.00
2,400.00
___________ ___________
49,000.00
58,800.00
___________ ___________
141,300.00 151,100.00
200,000.00 240,000.00
----------------- ----------------ii) Capital de Giro

___________ ___________
Necessidades
disponibilidade
estoque de materiais de uso operacional
financ. de vendas
Total
Coberturas
credito de fornec.
duplic. descontadas
giro existente
adicional de giro
Total
1,111.11
555.56
0.00
12,500.00
0.00
14,166.67
1,333.33
666.67
0.00
15,000.00
0.00
17,000.00
416.67
0.00
500.00
0.00
13,750.00
13,750.00
2,750.00
___________ ___________
14,166.67
17,000.00
----------------- -----------------
Saldo Devedor Amortizaes
______________________________________ ___________ ___________
Ano 00
330,000.00
Ano 01
330,000.00
0.00
Ano 02
330,000.00
0.00
Ano 03
330,000.00
55,000.00
Ano 04
275,000.00
55,000.00
Ano 05
220,000.00
55,000.00
Ano 06
165,000.00
55,000.00
Ano 07
110,000.00
55,000.00
Ano 08
55,000.00
55,000.00
Ano 09
0.00
0.00
Ano 10
0.00
0.00
Ano 11
0.00
0.00
Ano 12
0.00
0.00
______________________________________ ___________ ___________
-------------------------------------------------------- ----------------- ----------------iii) Demonst.Result.Exerccio
ano1
ano2
___________________________________ ___________ ___________
Receitas
200,000.00 240,000.00
___________________________________ ___________ ___________
(-) custos operacionais
94,300.00
99,700.00
___________________________________ ___________ ___________
a) Variveis: m.o. var. e enc.
12,000.00
14,400.00
materiais
10,000.00
12,000.00
Fretes
0.00
0.00
outros
5,000.00
6,000.00
Total Dir.
27,000.00
32,400.00
b) Fixos: m.o.fixa e enc.
40,000.00
40,000.00
Segs.
10,400.00
10,400.00
Manut.
11,900.00
11,900.00
outros
5,000.00
5,000.00
Total Ind.
67,300.00
67,300.00
___________________________________ ___________ ___________
(=) margem bruta
105,700.00 140,300.00
___________________________________ ___________ ___________
(-) Desp. Gerais

_______________________________
a) Fixas: pessoal admin.
outras
b) Variveis: Vendas
impostos
Financeiras
Outras
_____
Total Var.
_______________________________
_______________________________
(-) I.R.
_______________________________
_______________________________
Dividendos
ndices:
lucratividade (%)
rentabilidade (%)
47,000.00
51,400.00
___________ ___________
24,000.00
24,000.00
1,000.00
1,000.00
0.00
0.00
20,000.00
24,000.00
0.00
0.00
2,000.00
2,400.00
___________ ___________
22,000.00
26,400.00
33,000.00
33,000.00
37,000.00
37,000.00
___________ ___________
-11,300.00
18,900.00
___________ ___________
0.00
0.00
___________ ___________
-11,300.00
18,900.00
___________ ___________
0.00
0.00
-5.65
-3.29
7.88
5.45
-------------------------------------------------------- ----------------- ----------------iv) Quadro de Usos e Fontes

Ano 00
Ano 01
______________________________________ ___________ ___________
usos:
Fixo: terreno
const. civil
equip. inst.
projetos
Giro
_____________
Total
_________________________
fontes:
Financiamentos
Rec. Prprios
_____________
Total
110,000.00
350,000.00
170,000.00
30,000.00
13,750.00
2,750.00
___________ ___________
673,750.00
2,750.00
___________ ___________
330,000.00
343,750.00
2,750.00
___________ ___________
673,750.00
2,750.00
-------------------------------------------------------- ----------------- ----------------v) Capacidade de Pagamento

Ano 01
Ano 02
___________________________________ ___________ ___________
-11,300.00
18,900.00
(-) I.R.
0.00
0.00
37,000.00
37,000.00
(-) Dividendos
0.00
0.00
2,750.00
0.00
22,950.00
55,900.00
b (-) Amortizao
0.00
0.00
_____________________________
___________ ___________
(=) Saldo Final
22,950.00
55,900.00
Saldo Acumulado
22,950.00
78,850.00
0.00
0.00
-------------------------------------------------------- ----------------- -----------------
Ano 00
Ano 01
Receitas
(-) Custos Operacionais
_______________________________
C.O .V.
C.O .F.
200,000.00
94,300.00
___________ ___________
27,000.00
67,300.00
(-) Desp. Gerais

_______________________________
fixas
variveis
46,000.00
___________ ___________
24,000.00
22,000.00

(-) Deprec. + Amort.desp.pr oper.
_______________________________
(-) I.R.
(+) Deprec. + Amort.desp.pr oper.
_______________________________
(-) Amort. Financ.
(-) Juros do fianc.
_______________________________
33,000.00
37,000.00
___________ ___________
-11,300.00
0.00
33,000.00
37,000.00
___________ ___________
58,700.00
0.00
33,000.00
___________ ___________

25,700.00
________________________________
____________________
_____________________
(-) Rec. Prprios
343,750.00
2,750.00
(-) Investimento
673,750.00
2,750.00
(+) Financ.
330,000.00
0.00
_______________________________ ___________ ___________
(=) Fx. Empr. Final
-673,750.00
55,950.00
-343,750.00
22,950.00
-------------------------------------------------------- ----------------- ----------------tir empreendimento(%aa)

11.95
tir acionista (%aa)
13.03
Anlise:
VPL empreendimento
VPL acionista
-96514.68
-38977.58
VAUE empreendimento
VAUE acionista
-19230.75
-7766.36
.civil, equip. e inst.

quip. e inst.
dido a prazo
nv. fixo - terreno
s/ equip. e inst.
mort. pre-oper.
ucro liq. depois do I.R.
60.0%
70.0%
70.0%
70.0%
70.0%
Ano 03
Ano 04
Ano 05
Ano 06
Ano 07
14,400.00
16,800.00
16,800.00
16,800.00
16,800.00
12,000.00
14,000.00
14,000.00
14,000.00
14,000.00
0.00
0.00
0.00
0.00
0.00
6,000.00
7,000.00
7,000.00
7,000.00
7,000.00
____________ ___________ __________ ___________ _____________
32,400.00
37,800.00
37,800.00
37,800.00
37,800.00
40,000.00
40,000.00
40,000.00
40,000.00
40,000.00
10,400.00
10,400.00
10,400.00
10,400.00
10,400.00
11,900.00
11,900.00
11,900.00
11,900.00
11,900.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
____________ ___________ __________ ___________ _____________
67,300.00
67,300.00
67,300.00
67,300.00
67,300.00
99,700.00
105,100.00 105,100.00 105,100.00
105,100.00
67,300.00
67,300.00
67,300.00
67,300.00
67,300.00
24,000.00
24,000.00
24,000.00
24,000.00
24,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
____________ ___________ __________ ___________ _____________
92,300.00
92,300.00
92,300.00
92,300.00
92,300.00
32,400.00
37,800.00
37,800.00
37,800.00
37,800.00
24,000.00
28,000.00
28,000.00
28,000.00
28,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2,400.00
2,800.00
2,800.00
2,800.00
2,800.00
____________ ___________ __________ ___________ _____________
58,800.00
68,600.00
68,600.00
68,600.00
68,600.00
____________ ___________ __________ ___________ _____________
151,100.00
160,900.00 160,900.00 160,900.00
160,900.00
240,000.00
280,000.00 280,000.00 280,000.00
280,000.00
----------------- ----------------- ---------------- ---------------- -------------------
____________ ___________ __________ ___________ _____________

1,333.33
666.67
0.00
15,000.00
0.00
17,000.00
1,555.56
777.78
0.00
17,500.00
0.00
19,833.33
1,555.56
777.78
0.00
17,500.00
0.00
19,833.33
1,555.56
777.78
0.00
17,500.00
0.00
19,833.33
1,555.56
777.78
0.00
17,500.00
0.00
19,833.33
500.00
0.00
583.33
0.00
583.33
0.00
583.33
0.00
583.33
0.00
16,500.00
16,500.00
19,250.00
19,250.00
19,250.00
0.00
2,750.00
0.00
0.00
0.00
____________ ___________ __________ ___________ _____________
17,000.00
19,833.33
19,833.33
19,833.33
19,833.33
----------------- ----------------- ---------------- ---------------- -------------------
Juros
Prestaes Saldo Final
____________ ___________ __________ ___________ _____________
33,000.00
33,000.00
330,000.00
33,000.00
33,000.00 330,000.00
33,000.00
88,000.00 275,000.00
27,500.00
82,500.00 220,000.00
22,000.00
77,000.00 165,000.00
16,500.00
71,500.00 110,000.00
11,000.00
66,000.00
55,000.00
5,500.00
60,500.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
____________ ___________ __________ ___________ _____________
----------------- ----------------- ---------------- ---------------- ------------------ano3
ano4
ano5
ano6
ano7
____________ ___________ __________ ___________ _____________
240,000.00
280,000.00 280,000.00 280,000.00
280,000.00
____________ ___________ __________ ___________ _____________
99,700.00
105,100.00 105,100.00 105,100.00
105,100.00
____________ ___________ __________ ___________ _____________
14,400.00
16,800.00
16,800.00
16,800.00
16,800.00
12,000.00
14,000.00
14,000.00
14,000.00
14,000.00
0.00
0.00
0.00
0.00
0.00
6,000.00
7,000.00
7,000.00
7,000.00
7,000.00
32,400.00
37,800.00
37,800.00
37,800.00
37,800.00
40,000.00
40,000.00
40,000.00
40,000.00
40,000.00
10,400.00
10,400.00
10,400.00
10,400.00
10,400.00
11,900.00
11,900.00
11,900.00
11,900.00
11,900.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
67,300.00
67,300.00
67,300.00
67,300.00
67,300.00
____________ ___________ __________ ___________ _____________
140,300.00
174,900.00 174,900.00 174,900.00
174,900.00
____________ ___________ __________ ___________ _____________
51,400.00
55,800.00
55,800.00
55,800.00
55,800.00
____________ ___________ __________ ___________ _____________
24,000.00
24,000.00
24,000.00
24,000.00
24,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
0.00
0.00
0.00
0.00
0.00
24,000.00
28,000.00
28,000.00
28,000.00
28,000.00
0.00
0.00
0.00
0.00
0.00
2,400.00
2,800.00
2,800.00
2,800.00
2,800.00
____________ ___________ __________ ___________ _____________
26,400.00
30,800.00
30,800.00
30,800.00
30,800.00
33,000.00
27,500.00
22,000.00
16,500.00
11,000.00
37,000.00
37,000.00
37,000.00
31,000.00
31,000.00
____________ ___________ __________ ___________ _____________
18,900.00
54,600.00
60,100.00
71,600.00
77,100.00
____________ ___________ __________ ___________ _____________
0.00
0.00
0.00
0.00
0.00
____________ ___________ __________ ___________ _____________
18,900.00
54,600.00
60,100.00
71,600.00
77,100.00
____________ ___________ __________ ___________ _____________
0.00
0.00
0.00
0.00
0.00
7.88
5.45
19.50
15.63
21.46
17.21
25.57
20.50
27.54
22.08
----------------- ----------------- ---------------- ---------------- ------------------Ano 02

Ano 03
Ano 04
Ano 05
Ano 06
____________ ___________ __________ ___________ _____________
0.00
2,750.00
0.00
0.00
0.00
____________ ___________ __________ ___________ _____________
0.00
2,750.00
0.00
0.00
0.00
____________ ___________ __________ ___________ _____________
0.00
2,750.00
0.00
0.00
0.00
____________ ___________ __________ ___________ _____________
0.00
2,750.00
0.00
0.00
0.00
----------------- ----------------- ---------------- ---------------- ------------------Ano 03

Ano 04
Ano 05
Ano 06
Ano 07
____________ ___________ __________ ___________ _____________
18,900.00
54,600.00
60,100.00
71,600.00
77,100.00
0.00
0.00
0.00
0.00
0.00
37,000.00
37,000.00
37,000.00
31,000.00
31,000.00
0.00
0.00
0.00
0.00
0.00
2,750.00
0.00
0.00
0.00
0.00
53,150.00
91,600.00
97,100.00 102,600.00
108,100.00
55,000.00
55,000.00
55,000.00
55,000.00
55,000.00
____________ ___________ __________ ___________ _____________
-1,850.00
36,600.00
42,100.00
47,600.00
53,100.00
77,000.00
113,600.00 155,700.00 203,300.00
256,400.00
1.03
0.60
0.57
0.54
0.51
----------------- ----------------- ---------------- ---------------- -------------------
Ano 02
Ano 03
Ano 04
Ano 05
Ano 06
240,000.00
240,000.00 280,000.00 280,000.00
280,000.00
99,700.00
99,700.00 105,100.00 105,100.00
105,100.00
____________ ___________ __________ ___________ _____________
32,400.00
32,400.00
37,800.00
37,800.00
37,800.00
67,300.00
67,300.00
67,300.00
67,300.00
67,300.00
51,400.00
51,400.00
55,800.00
55,800.00
55,800.00
____________ ___________ __________ ___________ _____________
24,000.00
24,000.00
24,000.00
24,000.00
24,000.00
26,400.00
26,400.00
30,800.00
30,800.00
30,800.00
33,000.00
33,000.00
27,500.00
22,000.00
16,500.00
37,000.00
37,000.00
37,000.00
37,000.00
31,000.00
____________ ___________ __________ ___________ _____________
18,900.00
18,900.00
54,600.00
60,100.00
71,600.00
0.00
0.00
0.00
0.00
0.00
33,000.00
33,000.00
27,500.00
22,000.00
16,500.00
37,000.00
37,000.00
37,000.00
37,000.00
31,000.00
____________ ___________ __________ ___________ _____________
88,900.00
88,900.00 119,100.00 119,100.00
119,100.00
0.00
55,000.00
55,000.00
55,000.00
55,000.00
33,000.00
33,000.00
27,500.00
22,000.00
16,500.00
____________ ___________ __________ ___________ _____________
55,900.00
900.00
36,600.00
42,100.00
47,600.00
___________________
____________________
__________________
________________
_________________
0.00
2,750.00
0.00
0.00
0.00
0.00
2,750.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
____________ ___________ __________ ___________ _____________
88,900.00
86,150.00 119,100.00 119,100.00
119,100.00
55,900.00
-1,850.00
36,600.00
42,100.00
47,600.00
----------------- ----------------- ---------------- ---------------- -------------------
70.0%
70.0%
70.0%
Ano 08
Ano 09
Ano 10
16,800.00
16,800.00
16,800.00
14,000.00
14,000.00
14,000.00
0.00
0.00
0.00
7,000.00
7,000.00
7,000.00
____________ _____________ _____________________________________________________
37,800.00
37,800.00
37,800.00
40,000.00
40,000.00
40,000.00
10,400.00
10,400.00
10,400.00
11,900.00
11,900.00
11,900.00
5,000.00
5,000.00
5,000.00
____________ _____________ _____________________________________________________
67,300.00
67,300.00
67,300.00
105,100.00
105,100.00
105,100.00
67,300.00
67,300.00
67,300.00
24,000.00
24,000.00
24,000.00
1,000.00
1,000.00
1,000.00
____________ _____________ _____________________________________________________
92,300.00
92,300.00
92,300.00
37,800.00
37,800.00
37,800.00
28,000.00
28,000.00
28,000.00
0.00
0.00
0.00
0.00
0.00
0.00
2,800.00
2,800.00
2,800.00
____________ _____________ _____________________________________________________
68,600.00
68,600.00
68,600.00
____________ _____________ _____________________________________________________
160,900.00
160,900.00
160,900.00
280,000.00
280,000.00
280,000.00
------------------ ------------------- -------------------------------------------------------------------------------
____________ _____________ _____________________________________________________

1,555.56
777.78
0.00
17,500.00
0.00
19,833.33
1,555.56
777.78
0.00
17,500.00
0.00
19,833.33
1,555.56
777.78
0.00
17,500.00
0.00
19,833.33
583.33
0.00
583.33
0.00
583.33
0.00
19,250.00
19,250.00
19,250.00
0.00
0.00
0.00
____________ _____________ _____________________________________________________
19,833.33
19,833.33
19,833.33
------------------ ------------------- -------------------------------------------------------------------------------
------------------ ------------------- -------------------------------------------------------------------------------
ano8
ano9
ano10
____________ _____________ _____________________________________________________
280,000.00
280,000.00
280,000.00
____________ _____________ _____________________________________________________
105,100.00
105,100.00
105,100.00
____________ _____________ _____________________________________________________
16,800.00
16,800.00
16,800.00
14,000.00
14,000.00
14,000.00
0.00
0.00
0.00
7,000.00
7,000.00
7,000.00
37,800.00
37,800.00
37,800.00
40,000.00
40,000.00
40,000.00
10,400.00
10,400.00
10,400.00
11,900.00
11,900.00
11,900.00
5,000.00
5,000.00
5,000.00
67,300.00
67,300.00
67,300.00
____________ _____________ _____________________________________________________
174,900.00
174,900.00
174,900.00
____________ _____________ _____________________________________________________
55,800.00
55,800.00
55,800.00
____________ _____________ _____________________________________________________
24,000.00
24,000.00
24,000.00
1,000.00
1,000.00
1,000.00
0.00
0.00
0.00
28,000.00
28,000.00
28,000.00
0.00
0.00
0.00
2,800.00
2,800.00
2,800.00
____________ _____________ _____________________________________________________
30,800.00
30,800.00
30,800.00
5,500.00
0.00
0.00
31,000.00
31,000.00
31,000.00
____________ _____________ _____________________________________________________
82,600.00
88,100.00
88,100.00
____________ _____________ _____________________________________________________
0.00
0.00
0.00
____________ _____________ _____________________________________________________
82,600.00
88,100.00
88,100.00
____________ _____________ _____________________________________________________
0.00
0.00
0.00
29.50
23.65
31.46
25.23
31.46
25.23
------------------ ------------------- ------------------- -----------------------------------------------------------
Ano 07
Ano 08
Ano 09
Ano 10
Total
____________ _____________ _____________ ______________ _________________________
110,000.00
350,000.00
170,000.00
30,000.00
0.00
0.00
0.00
0.00
19,250.00
____________ _____________ _____________ ______________ _________________________
0.00
0.00
0.00
0.00
679,250.00
____________ _____________ _____________ ______________ _________________________
330,000.00
0.00
0.00
0.00
0.00
349,250.00
____________ _____________ _____________ ______________ _________________________
0.00
0.00
0.00
0.00
679,250.00
------------------ ------------------- ------------------- --------------------- -------------------
Ano 08
Ano 09
Ano 10
____________ _____________ _____________________________________________________
82,600.00
88,100.00
88,100.00
0.00
0.00
0.00
31,000.00
31,000.00
31,000.00
0.00
0.00
0.00
0.00
0.00
0.00
113,600.00
119,100.00
119,100.00
55,000.00
0.00
0.00
____________ _____________ _____________________________________________________
58,600.00
119,100.00
119,100.00
315,000.00
434,100.00
553,200.00
0.48
0.00
0.00
------------------ ------------------- -------------------------------------------------------------------------------
Ano 07
Ano 08
Ano 09
Ano 10
280,000.00
280,000.00
280,000.00
280,000.00
105,100.00
105,100.00
105,100.00
105,100.00
____________ _____________ _____________ _______________________________________
37,800.00
37,800.00
37,800.00
37,800.00
67,300.00
67,300.00
67,300.00
67,300.00
55,800.00
55,800.00
55,800.00
55,800.00
____________ _____________ _____________ _______________________________________
24,000.00
24,000.00
24,000.00
24,000.00
30,800.00
30,800.00
30,800.00
30,800.00
11,000.00
5,500.00
0.00
0.00
31,000.00
31,000.00
31,000.00
31,000.00
____________ _____________ _____________ _______________________________________
77,100.00
82,600.00
88,100.00
88,100.00
0.00
0.00
0.00
0.00
11,000.00
5,500.00
0.00
0.00
31,000.00
31,000.00
31,000.00
31,000.00
____________ _____________ _____________ _______________________________________
119,100.00
119,100.00
119,100.00
119,100.00
55,000.00
55,000.00
0.00
0.00
11,000.00
5,500.00
0.00
0.00
____________ _____________ _____________ _______________________________________
53,100.00
58,600.00
119,100.00
119,100.00
_________________
_________________
__________________
__________________
0.00
0.00
0.00
-319,250.00
0.00
0.00
0.00
-319,250.00
0.00
0.00
0.00
0.00
____________ _____________ _____________ _______________________________________
119,100.00
119,100.00
119,100.00
438,350.00
53,100.00
58,600.00
119,100.00
438,350.00
------------------ ------------------- ------------------- -----------------------------------------------------------
____________________________________
____________________________________
____________________________________
____________________________________
____________________________________
------------------------------------------------------
____________________________________
____________________________________
------------------------------------------------------
----------------------------------------------------------------- -----------
____________________________________
____________________________________
____________________________________
____________________________________
____________________________________
____________________________________
____________________________________
____________________________________
____________________________________
____________________________________
____________________________________
----------------------------------------------------------------- -----------
___________________________________________
___________________________________________
___________________________________________
___________________________________________
------------------ ----------- ----------- -----------
____________________________________
____________________________________
------------------------------------------------------ ----------- -----------
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
-----------------------------------------------------------------------------

Nome:
Fbrica de Surimi
terreno
0.00 R$
construo civil
420,000.00 R$
equip. e instalaes
1,500,000.00 R$
200,000.00 R$
___________________________
TOTAL
2,120,000.00 R$
matria-prima
mo de obra direta e encargos
mo de obra indireta e encargos
pessoal administrativo
seguros
pecas de reposio
fretes
comisses de vendas
Impostos
Outros Custos Ind. Diretos

Outros Custos Ind. Indiretos
4,000,000.00 R$
1,600,000.00 R$
144,000.00 R$
108,000.00 R$
144,000.00 R$
3.0% s/ M.P.
5.0% s/ fat.
12.0% s/ vendas
0.0% s/ compras
10.0% descontado
1.0% ao ms
200,000.00 R$
0.00 R$
20,000.00 R$
0.00 R$
iv) Implantao
220 Dia(s)
v) Giro Prprio
2 Dia(s)
dias estoque mat. prima
10 Dia(s)
dias estoque prod. acab.
15 Dia(s)
15 Dia(s)
30 Dia(s)
prazo de prod.em elaborao
5 Dia(s)
vi) Financiamento
60.0% s/ inv. fixo - terreno + giro
taxa de juros
10.0%
carncia
2 Ano(s)
amortizao
3 Ano(s)
vii) Outras
equip. inst.
dividendos
I.R.
40.0%
424,000.00
TMA
12.00 %aa
2. Resultados:
Custos indust. diretos
60.0%
70.0%
Ano 01
Ano 02
mo-de-obra direta e encargos

matria-prima
fretes
outros custos ind. diretos
86,400.00
960,000.00
28,800.00
120,000.00
100,800.00
1,120,000.00
33,600.00
140,000.00
1,195,200.00
1,394,400.00
108,000.00
38,400.00
150,000.00
0.00
108,000.00
38,400.00
150,000.00
0.00
296,400.00
1,491,600.00
296,400.00
1,690,800.00
296,400.00
144,000.00
20,000.00
296,400.00
144,000.00
20,000.00
460,400.00
460,400.00
1,195,200.00
288,000.00
120,000.00
2,400.00
0.00
1,394,400.00
336,000.00
140,000.00
2,800.00
0.00
subtotal 4
1,605,600.00
1,873,200.00

Receitas
2,066,000.00
2,400,000.00
2,333,600.00
2,800,000.00
subtotal 1
Custos indust. indiretos
mo-de-obra indireta e encargos
seguros
manuteno
outros custos indust. indiretos
subtotal 2
subtotal Industrial
custos indust. indir.
despesas admin.
subtotal 3
custos indust. dir.
Impostos (liquido)
vendas
desp. financeiras
ii) Capital de Giro

Necessidades
disponibilidade
estoque de M.P.
estoque de P.E.
financ. de vendas
estoque de P.A .
Total
Coberturas
credito de fornec.
duplic. descontadas
financiamento de curto prazo
giro existente
adicional de giro
Total
21,818.18
44,945.45
28,186.36
327,272.73
101,700.00
523,922.73
25,454.55
52,436.36
32,322.73
381,818.18
115,281.82
607,313.64
65,454.55
32,727.27
76,363.64
38,181.82
425,740.91
425,740.91
67,027.27
523,922.73
607,313.64
Saldo Dev.Inic. Amortizaes
Ano 00
Ano 01
1,527,444.55
1,527,444.55
0.00
Ano 02
Ano 03
Ano 04
Ano 05
Ano 06
Ano 07
Ano 08
Ano 09
Ano 10
Ano 11
Ano 12
1,527,444.55
1,527,444.55
1,018,296.36
509,148.18
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
509,148.18
509,148.18
509,148.18
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ano1
ano2
____________ ____________
Receitas
2,400,000.00 2,800,000.00
___________________________________ ____________ ____________
(-) custos de produo
1,491,600.00 1,690,800.00
___________________________________ ____________ ____________
a) Diretos: M.O.D.
86,400.00
100,800.00
M.P.
960,000.00 1,120,000.00
Fretes
28,800.00
33,600.00
outros
120,000.00
140,000.00
Total Dir.
1,195,200.00 1,394,400.00
b) Indiretos: M.O.I.
108,000.00
108,000.00
Segs.
38,400.00
38,400.00
Manut.
150,000.00
150,000.00
outros
0.00
0.00
Total Ind.
296,400.00
296,400.00
___________________________________ ____________ ____________
(=) margem bruta
908,400.00 1,109,200.00
___________________________________ ____________ ____________
(-) Desp. Gerais

_______________________________
a) Fixas: Desp. Adm.
outras
b) Variveis: Vendas
Impostos
Financeiras
Outras
_____
Total Var.
_______________________________
_______________________________
(-) I.R.
_______________________________
_______________________________
Dividendos
ndices:
lucratividade (%)
rentabilidade (%)
574,400.00
642,800.00
____________ ____________
144,000.00
144,000.00
20,000.00
20,000.00
120,000.00
140,000.00
288,000.00
336,000.00
2,400.00
2,800.00
0.00
0.00
____________ ____________
410,400.00
478,800.00
152,744.45
152,744.45
206,800.00
206,800.00
____________ ____________
-25,544.45
106,855.55
____________ ____________
-10,217.78
42,742.22
____________ ____________
-15,326.67
64,113.33
____________ ____________
0.00
0.00
-0.64
-1.51
2.29
5.91
-------------------------------------------------------- ------------------ -----------------iv) Quadro de Usos e Fontes

Ano 00
Ano 01
______________________________________ ____________ ____________
usos:
Fixo: terreno
const. civil
equip. inst.
projetos
Giro
_____________
Total
_________________________
fontes:
Financiamentos
Rec. Prprios
_____________
Total
0.00
420,000.00
1,500,000.00
200,000.00
425,740.91
67,027.27
____________ ____________
2,545,740.91
67,027.27
____________ ____________
1,527,444.55
1,018,296.36
67,027.27
____________ ____________
2,545,740.91
67,027.27
-------------------------------------------------------- ------------------ -----------------v) Capacidade de Pagamento

Ano 01
Ano 02
___________________________________ ____________ ____________
-25,544.45
106,855.55
(-) I.R.
-10,217.78
42,742.22
206,800.00
206,800.00
(-) Dividendos
0.00
0.00
67,027.27
67,027.27
124,446.05
203,886.05
b (-) Amortizao
0.00
0.00
_____________________________
____________ ____________
(=) Saldo Final
124,446.05
203,886.05
Saldo Acumulado
124,446.05
328,332.11
0.00
0.00
-------------------------------------------------------- ------------------ ------------------
Ano 00
Ano 01
Receitas
(-) Custos de Produo
_______________________________
C.I.D.
C.I.I.
2,400,000.00
1,491,600.00
____________ ____________
1,195,200.00
296,400.00
(-) Desp. Gerais

_______________________________
fixas
variveis
554,400.00
____________ ____________
144,000.00
410,400.00

(-) Deprec. + Amort.de desp.pr operac.
_______________________________
(-) I.R.
(+) Deprec. + Amort.desp. Pr oper.
_______________________________
(-) Amort. Financ.
_______________________________
152,744.45
206,800.00
____________ ____________
-25,544.45
-10,217.78
152,744.45
206,800.00
____________ ____________
344,217.78
0.00
152,744.45
____________ ____________

191,473.33
________________________________
____________________
_____________________
(-) Rec. Prprios
1,018,296.36
67,027.27
(-) Investimento
2,545,740.91
67,027.27
(+) Financ.
1,527,444.55
0.00
_______________________________
____________ ____________
(=) Fx. Empr. Final
-2,545,740.91
277,190.51
-1,018,296.36
124,446.05
-------------------------------------------------------- ------------------ -----------------tir empreendimento(%aa)

7.61
tir acionista (%aa)
4.56
VPL empreendimento
VPL acionista
Avaliao:
-356702.37
-264608.09
ivil, equip. e inst.
ido a prazo
v. fixo - terreno + giro
/ equip. e inst.
mort. pre-oper.
cro liq. depois do I.R.
80.0%
100.0%
100.0%
Ano 03
Ano 04
Ano 05
115,200.00
1,280,000.00
38,400.00
160,000.00
144,000.00
1,600,000.00
48,000.00
200,000.00
144,000.00
1,600,000.00
48,000.00
200,000.00
1,593,600.00
1,992,000.00
1,992,000.00
108,000.00
38,400.00
150,000.00
0.00
108,000.00
38,400.00
150,000.00
0.00
108,000.00
38,400.00
150,000.00
0.00
296,400.00
1,890,000.00
296,400.00
2,288,400.00
296,400.00
2,288,400.00
296,400.00
144,000.00
20,000.00
296,400.00
144,000.00
20,000.00
296,400.00
144,000.00
20,000.00
460,400.00
460,400.00
460,400.00
1,593,600.00
384,000.00
160,000.00
3,200.00
0.00
1,992,000.00
480,000.00
200,000.00
4,000.00
0.00
1,992,000.00
480,000.00
200,000.00
4,000.00
0.00
2,140,800.00
2,676,000.00
2,676,000.00
2,601,200.00
3,200,000.00
3,136,400.00
4,000,000.00
3,136,400.00
4,000,000.00
29,090.91
59,927.27
36,459.09
436,363.64
128,863.64
690,704.55
36,363.64
74,909.09
44,731.82
545,454.55
156,027.27
857,486.36
36,363.64
74,909.09
44,731.82
545,454.55
156,027.27
857,486.36
87,272.73
43,636.36
109,090.91
54,545.45
109,090.91
54,545.45
492,768.18
67,027.27
559,795.45
134,054.55
693,850.00
0.00
690,704.55
857,486.36
857,486.36
Juros
152,744.45
Prestaes
152,744.45
Saldo Final
1,527,444.55
152,744.45
152,744.45
101,829.64
50,914.82
0.00
0.00
0.00
0.00
0.00
0.00
0.00
152,744.45
661,892.64
610,977.82
560,063.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1,527,444.55
1,018,296.36
509,148.18
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
ano3
ano4
ano5
_____________ _____________ ____________________________________________________
3,200,000.00
4,000,000.00
4,000,000.00
_____________ _____________ ____________________________________________________
1,890,000.00
2,288,400.00
2,288,400.00
_____________ _____________ ____________________________________________________
115,200.00
144,000.00
144,000.00
1,280,000.00
1,600,000.00
1,600,000.00
38,400.00
48,000.00
48,000.00
160,000.00
200,000.00
200,000.00
1,593,600.00
1,992,000.00
1,992,000.00
108,000.00
108,000.00
108,000.00
38,400.00
38,400.00
38,400.00
150,000.00
150,000.00
150,000.00
0.00
0.00
0.00
296,400.00
296,400.00
296,400.00
_____________ _____________ ____________________________________________________
1,310,000.00
1,711,600.00
1,711,600.00
_____________ _____________ ____________________________________________________
711,200.00
848,000.00
848,000.00
_____________ _____________ ____________________________________________________
144,000.00
144,000.00
144,000.00
20,000.00
20,000.00
20,000.00
160,000.00
200,000.00
200,000.00
384,000.00
480,000.00
480,000.00
3,200.00
4,000.00
4,000.00
0.00
0.00
0.00
_____________ _____________ ____________________________________________________
547,200.00
684,000.00
684,000.00
152,744.45
101,829.64
50,914.82
206,800.00
206,800.00
206,800.00
_____________ _____________ ____________________________________________________
239,255.55
554,970.36
605,885.18
_____________ _____________ ____________________________________________________
95,702.22
221,988.15
242,354.07
_____________ _____________ ____________________________________________________
143,553.33
332,982.22
363,531.11
_____________ _____________ ____________________________________________________
0.00
0.00
0.00
4.49
12.46
8.32
25.88
9.09
28.26
------------------- -------------------- ------------------- ------------------ ------------------
Ano 02
Ano 03
Ano 04
Ano 05
Total
_____________ _____________ _____________ ______________________________________
0.00
420,000.00
1,500,000.00
200,000.00
67,027.27
134,054.55
0.00
0.00
693,850.00
_____________ _____________ _____________ ____________ ______________
67,027.27
134,054.55
0.00
0.00 2,813,850.00
_____________ _____________ _____________ ____________ ______________
1,527,444.55
67,027.27
134,054.55
0.00
0.00 1,286,405.45
_____________ _____________ _____________ ____________ ______________
67,027.27
134,054.55
0.00
0.00 2,813,850.00
------------------- -------------------- ------------------- ------------------ ------------------
Ano 03
Ano 04
Ano 05
_____________ _____________ ____________________________________________________
239,255.55
554,970.36
605,885.18
95,702.22
221,988.15
242,354.07
206,800.00
206,800.00
206,800.00
0.00
0.00
0.00
134,054.55
0.00
0.00
216,298.78
539,782.22
570,331.11
509,148.18
509,148.18
509,148.18
_____________ _____________ ____________________________________________________
-292,849.40
30,634.04
61,182.93
35,482.71
66,116.75
127,299.67
2.35
0.94
0.89
------------------- -------------------- -----------------------------------------------------------------------------
Ano 02
Ano 03
Ano 04
Ano 05
2,800,000.00
3,200,000.00
4,000,000.00 4,000,000.00
1,690,800.00
1,890,000.00
2,288,400.00 2,288,400.00
_____________ _____________ _____________ ______________________________________
1,394,400.00
1,593,600.00
1,992,000.00 1,992,000.00
296,400.00
296,400.00
296,400.00
296,400.00
642,800.00
711,200.00
848,000.00
848,000.00
_____________ _____________ _____________ ______________________________________
144,000.00
144,000.00
144,000.00
144,000.00
478,800.00
547,200.00
684,000.00
684,000.00
152,744.45
152,744.45
101,829.64
50,914.82
206,800.00
206,800.00
206,800.00
206,800.00
_____________ _____________ _____________ ______________________________________
106,855.55
239,255.55
554,970.36
605,885.18
42,742.22
95,702.22
221,988.15
242,354.07
152,744.45
152,744.45
101,829.64
50,914.82
206,800.00
206,800.00
206,800.00
206,800.00
_____________ _____________ _____________ ______________________________________
423,657.78
503,097.78
641,611.85
621,245.93
0.00
509,148.18
509,148.18
509,148.18
152,744.45
152,744.45
101,829.64
50,914.82
_____________ _____________ _____________ ______________________________________
270,913.33
-158,794.85
30,634.04
61,182.93
___________________
____________________
__________________
________________
67,027.27
134,054.55
0.00 -1,117,850.00
67,027.27
134,054.55
0.00 -1,117,850.00
0.00
0.00
0.00
0.00
_____________ _____________ _____________ ______________________________________
356,630.51
369,043.24
641,611.85 1,739,095.93
203,886.05
-292,849.40
30,634.04 1,179,032.93
------------------- -------------------- ------------------- ---------------------------------------------------------
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
_____________________________________________________________________________________
__________
__________
__________
----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
_____________________________________________________________________
_____________________________________________________________________
------------------------------------------------------------------------------------------------------------------------------
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
------------------------------------------------------------------------------------------------------------------------------
-----------
________________
-----------------------
________________
________________
________________
________________
________________
________________
-----------------------

Nome:
Fbrica de Surimi
terreno
0.00 R$
construo civil
420,000.00 R$
equip. e instalaes
1,500,000.00 R$
200,000.00 R$
___________________________
TOTAL
2,120,000.00 R$
matria-prima
seguros
pecas de reposio
fretes
comisses de vendas
Impostos

4,000,000.00 R$
1,600,000.00 R$
144,000.00 R$
108,000.00 R$
144,000.00 R$
3.0% s/ M.P.
5.0% s/ fat.
12.0% s/ vendas
0.0% s/ compras
10.0% descontado
1.0% ao ms
200,000.00 R$
0.00 R$
20,000.00 R$
0.00 R$
iv) Implantao
v) Giro Prprio
vi) Financiamento
taxa de juros
carncia
amortizao
220 Dia(s)
2
10
15
15
30
5
Dia(s)
Dia(s)
Dia(s)
Dia(s)
Dia(s)
Dia(s)

10.0%
2 Ano(s)
6 Ano(s)
vii) Outras
equip. inst.
dividendos
I.R.
40.0%
212,000.00
TMA
12.00 %aa
2.Resultados:
% Utilizao Capacidade:
60.0%
70.0%
70.0%
Ano 01
Ano 02
Ano 03

matria-prima
fretes
subtotal 1
seguros
manuteno
subtotal 2
subtotal Industrial
despesas admin.
subtotal 3
custos indust. dir.
Impostos (liquido)
vendas
desp. financeiras
subtotal 4
Receitas
86,400.00 100,800.00
100,800.00
960,000.00 1,120,000.00 1,120,000.00
28,800.00
33,600.00
33,600.00
120,000.00 140,000.00
140,000.00
___________ ___________ ____________
1,195,200.00 1,394,400.00 1,394,400.00
108,000.00 108,000.00
108,000.00
38,400.00
38,400.00
38,400.00
150,000.00 150,000.00
150,000.00
0.00
0.00
0.00
___________ ___________ ____________
296,400.00 296,400.00
296,400.00
1,491,600.00 1,690,800.00 1,690,800.00
296,400.00 296,400.00
296,400.00
144,000.00 144,000.00
144,000.00
20,000.00
20,000.00
20,000.00
___________ ___________ ____________
460,400.00 460,400.00
460,400.00
1,195,200.00 1,394,400.00 1,394,400.00

288,000.00 336,000.00
336,000.00
120,000.00 140,000.00
140,000.00
2,400.00
2,800.00
2,800.00
0.00
0.00
0.00
___________ ___________ ____________
1,605,600.00 1,873,200.00 1,873,200.00
___________ ___________ ____________
2,066,000.00 2,333,600.00 2,333,600.00
2,400,000.00 2,800,000.00 2,800,000.00
-------------------------------------------------- ----------------- ----------------- ----------------ii) Capital de Giro

___________ ___________ ____________
Necessidades
disponibilidade
estoque de M.P.
estoque de P.E.
financ. de vendas
estoque de P.A .
Total
Coberturas
credito de fornec.
duplic. descontadas
giro existente
adicional de giro
21,818.18
44,945.45
28,186.36
327,272.73
101,700.00
523,922.73
25,454.55
52,436.36
32,322.73
381,818.18
115,281.82
607,313.64
25,454.55
52,436.36
32,322.73
381,818.18
115,281.82
607,313.64
65,454.55
32,727.27
76,363.64
38,181.82
76,363.64
38,181.82
425,740.91
492,768.18
425,740.91
67,027.27
0.00
___________ ___________ ____________
Total
523,922.73 607,313.64
607,313.64
-------------------------------------------------- ----------------- ----------------- -----------------
Saldo Devedor Amortizaes
Juros
__________________________________ ___________ ___________ ____________
Ano 00
1,527,444.55
Ano 01
1,527,444.55
0.00
152,744.45
Ano 02
1,527,444.55
0.00
152,744.45
Ano 03
1,527,444.55 254,574.09
152,744.45
Ano 04
1,272,870.45 254,574.09
127,287.05
Ano 05
1,018,296.36 254,574.09
101,829.64
Ano 06
763,722.27 254,574.09
76,372.23
Ano 07
509,148.18 254,574.09
50,914.82
Ano 08
254,574.09 254,574.09
25,457.41
Ano 09
0.00
0.00
0.00
Ano 10
0.00
0.00
0.00
Ano 11
0.00
0.00
0.00
Ano 12
0.00
0.00
0.00
__________________________________ ___________ ___________ ____________
-------------------------------------------------- ----------------- ----------------- ----------------iii) Demonst.Result.Exerccio
ano1
ano2
ano3
___________________________________
___________ ___________ ____________
Receitas
2,400,000.00 2,800,000.00 2,800,000.00
___________________________________
___________ ___________ ____________
1,491,600.00 1,690,800.00 1,690,800.00
___________________________________
___________ ___________ ____________
a) Diretos: M.O.D.
86,400.00 100,800.00
100,800.00
M.P.
960,000.00 1,120,000.00 1,120,000.00
Fretes
28,800.00
33,600.00
33,600.00
outros
120,000.00 140,000.00
140,000.00
Total Dir.
1,195,200.00 1,394,400.00 1,394,400.00
108,000.00 108,000.00
108,000.00
Segs.
38,400.00
38,400.00
38,400.00
Manut.
150,000.00 150,000.00
150,000.00
outros
0.00
0.00
0.00
Total Ind.
296,400.00 296,400.00
296,400.00
___________________________________
___________ ___________ ____________
(=) lucro bruto
908,400.00 1,109,200.00 1,109,200.00
___________________________________
___________ ___________ ____________
(-) Desp. Gerais

574,400.00 642,800.00
642,800.00
_______________________________
___________ ___________ ____________
144,000.00 144,000.00
144,000.00
outras
20,000.00
20,000.00
20,000.00
b) Variveis: Vendas
120,000.00 140,000.00
140,000.00
impostos
288,000.00 336,000.00
336,000.00
Financ.
2,400.00
2,800.00
2,800.00
Outras
0.00
0.00
0.00
_____
___________ ___________ ____________
Total Var.
410,400.00 478,800.00
478,800.00
152,744.45 152,744.45
152,744.45
206,800.00 206,800.00
206,800.00
_______________________________
___________ ___________ ____________
-25,544.45 106,855.55
106,855.55
_______________________________
___________ ___________ ____________
(-) I.R.
-10,217.78
42,742.22
42,742.22
_______________________________
___________ ___________ ____________
-15,326.67
64,113.33
64,113.33
_______________________________
___________ ___________ ____________
Dividendos
0.00
0.00
0.00
ndices:
lucratividade (%)
rentabilidade (%)
-0.64
-1.51
2.29
5.91
2.29
5.91
-------------------------------------------------- ----------------- ----------------- ----------------iv) Quadro de Usos e Fontes

Ano 00
Ano 01
Ano 02
__________________________________ ___________ ___________ ____________
usos:
Fixo: terreno
const. civil
equip. inst.
projetos
0.00
420,000.00
1,500,000.00
200,000.00
Giro
425,740.91
67,027.27
0.00
_____________
___________ ___________ ____________
Total
2,545,740.91
67,027.27
0.00
_________________________ ___________ ___________ ____________
fontes:
Financiamentos
1,527,444.55
Rec. Prprios
1,018,296.36
67,027.27
0.00
_____________
___________ ___________ ____________
Total
2,545,740.91
67,027.27
0.00
-------------------------------------------------- ----------------- ----------------- ----------------v) Capacidade de Pagamento

Ano 01
Ano 02
Ano 03
___________________________________
___________ ___________ ____________
-25,544.45 106,855.55
106,855.55
(-) I.R.
-10,217.78
42,742.22
42,742.22
206,800.00 206,800.00
206,800.00
(-) Dividendos
0.00
0.00
0.00
67,027.27
0.00
134,054.55
124,446.05 270,913.33
136,858.78
b (-) Amortizao
0.00
0.00
254,574.09
________________________________________ ___________ ____________
(=) Saldo Final
124,446.05 270,913.33 -117,715.31
Saldo Acumulado
124,446.05 395,359.38
277,644.07
0.00
0.00
1.86
-------------------------------------------------- ----------------- ----------------- -----------------
Ano 00
Ano 01
Ano 02
Receitas
2,400,000.00 2,800,000.00
1,491,600.00 1,690,800.00
_______________________________
___________ ___________ ____________
C.I.D.
1,195,200.00 1,394,400.00
C.I.I.
296,400.00
296,400.00
(-) Desp. Gerais
554,400.00
642,800.00
_______________________________
___________ ___________ ____________
fixas
144,000.00
144,000.00
variveis
410,400.00
478,800.00
152,744.45
152,744.45
206,800.00
206,800.00
_______________________________
___________ ___________ ____________
-25,544.45
106,855.55
(-) I.R.
-10,217.78
42,742.22
152,744.45
152,744.45
206,800.00
206,800.00
_______________________________
___________ ___________ ____________
344,217.78
423,657.78
(-) Amort. Financ.
0.00
0.00
(-) Juros do fianc.
152,744.45
152,744.45
_______________________________
___________ ___________ ____________
191,473.33
270,913.33
________________________________
____________________
_____________________
___________________
(-) Rec. Prprios
1,018,296.36
67,027.27
0.00
(-) Investimento
2,545,740.91
67,027.27
0.00
(+) Financ.
1,527,444.55
0.00
0.00
_______________________________
___________ ___________ ____________
(=) Fx. Empr. Final
-2,545,740.91 277,190.51
423,657.78
-1,018,296.36 124,446.05
270,913.33
-------------------------------------------------- ----------------- ----------------- ----------------tir empreendimento(%aa)

15.30
tir acionista (%aa)
19.73
VPL empreendimento
VPL acionista
Anlise:
447637.11
563146.34
90.0%
100.0%
100.0%
100.0%
100.0%
Ano 04
Ano 05
Ano 06
Ano 07
Ano 08
129,600.00 144,000.00 144,000.00

144,000.00
144,000.00
1,440,000.00 1,600,000.00 1,600,000.00
1,600,000.00 1,600,000.00
43,200.00
48,000.00
48,000.00
48,000.00
48,000.00
180,000.00 200,000.00 200,000.00
200,000.00
200,000.00
___________ __________ ___________ _____________ ____________
1,792,800.00 1,992,000.00 1,992,000.00
1,992,000.00 1,992,000.00
108,000.00 108,000.00 108,000.00

108,000.00
108,000.00
38,400.00
38,400.00
38,400.00
38,400.00
38,400.00
150,000.00 150,000.00 150,000.00
150,000.00
150,000.00
0.00
0.00
0.00
0.00
0.00
___________ __________ ___________ _____________ ____________
296,400.00 296,400.00 296,400.00
296,400.00
296,400.00
2,089,200.00 2,288,400.00 2,288,400.00
2,288,400.00 2,288,400.00
296,400.00 296,400.00 296,400.00

296,400.00
296,400.00
144,000.00 144,000.00 144,000.00
144,000.00
144,000.00
20,000.00
20,000.00
20,000.00
20,000.00
20,000.00
___________ __________ ___________ _____________ ____________
460,400.00 460,400.00 460,400.00
460,400.00
460,400.00
1,792,800.00 1,992,000.00 1,992,000.00

1,992,000.00 1,992,000.00
432,000.00 480,000.00 480,000.00
480,000.00
480,000.00
180,000.00 200,000.00 200,000.00
200,000.00
200,000.00
3,600.00
4,000.00
4,000.00
4,000.00
4,000.00
0.00
0.00
0.00
0.00
0.00
___________ __________ ___________ _____________ ____________
2,408,400.00 2,676,000.00 2,676,000.00
2,676,000.00 2,676,000.00
___________ __________ ___________ _____________ ____________
2,868,800.00 3,136,400.00 3,136,400.00
3,136,400.00 3,136,400.00
3,600,000.00 4,000,000.00 4,000,000.00
4,000,000.00 4,000,000.00
----------------- ---------------- ---------------- ------------------- ------------------
___________ __________ ___________ _____________ ____________

32,727.27
67,418.18
40,595.45
490,909.09
142,445.45
774,095.45
36,363.64
74,909.09
44,731.82
545,454.55
156,027.27
857,486.36
36,363.64
74,909.09
44,731.82
545,454.55
156,027.27
857,486.36
36,363.64
74,909.09
44,731.82
545,454.55
156,027.27
857,486.36
36,363.64
74,909.09
44,731.82
545,454.55
156,027.27
857,486.36
98,181.82
49,090.91
109,090.91
54,545.45
109,090.91
54,545.45
109,090.91
54,545.45
109,090.91
54,545.45
492,768.18 626,822.73 693,850.00

693,850.00
693,850.00
134,054.55
67,027.27
0.00
0.00
0.00
___________ __________ ___________ _____________ ____________
774,095.45 857,486.36 857,486.36
857,486.36
857,486.36
----------------- ---------------- ---------------- ------------------- ------------------
Prestaes Saldo Final

___________ __________ ___________ _____________
152,744.45 1,527,444.55
152,744.45 1,527,444.55
407,318.55 1,272,870.45
381,861.14 1,018,296.36
356,403.73 763,722.27
330,946.32 509,148.18
305,488.91 254,574.09
280,031.50
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
___________ __________ ___________ _____________
----------------- ---------------- ---------------- ------------------- -----------------ano4
ano5
ano6
ano7
ano8
___________ __________ ___________ _____________ ____________
3,600,000.00 4,000,000.00 4,000,000.00
4,000,000.00 4,000,000.00
___________ __________ ___________ _____________ ____________
2,089,200.00 2,288,400.00 2,288,400.00
2,288,400.00 2,288,400.00
___________ __________ ___________ _____________ ____________
129,600.00 144,000.00 144,000.00
144,000.00
144,000.00
1,440,000.00 1,600,000.00 1,600,000.00
1,600,000.00 1,600,000.00
43,200.00
48,000.00
48,000.00
48,000.00
48,000.00
180,000.00 200,000.00 200,000.00
200,000.00
200,000.00
1,792,800.00 1,992,000.00 1,992,000.00
1,992,000.00 1,992,000.00
108,000.00 108,000.00 108,000.00
108,000.00
108,000.00
38,400.00
38,400.00
38,400.00
38,400.00
38,400.00
150,000.00 150,000.00 150,000.00
150,000.00
150,000.00
0.00
0.00
0.00
0.00
0.00
296,400.00 296,400.00 296,400.00
296,400.00
296,400.00
___________ __________ ___________ _____________ ____________
1,510,800.00 1,711,600.00 1,711,600.00
1,711,600.00 1,711,600.00
___________ __________ ___________ _____________ ____________
779,600.00 848,000.00 848,000.00

848,000.00
848,000.00
___________ __________ ___________ _____________ ____________
144,000.00 144,000.00 144,000.00
144,000.00
144,000.00
20,000.00
20,000.00
20,000.00
20,000.00
20,000.00
180,000.00 200,000.00 200,000.00
200,000.00
200,000.00
432,000.00 480,000.00 480,000.00
480,000.00
480,000.00
3,600.00
4,000.00
4,000.00
4,000.00
4,000.00
0.00
0.00
0.00
0.00
0.00
___________ __________ ___________ _____________ ____________
615,600.00 684,000.00 684,000.00
684,000.00
684,000.00
127,287.05
101,829.64
76,372.23
50,914.82
25,457.41
206,800.00 206,800.00 166,800.00

166,800.00
166,800.00
___________ __________ ___________ _____________ ____________
397,112.95 554,970.36 620,427.77
645,885.18
671,342.59
___________ __________ ___________ _____________ ____________
158,845.18 221,988.15 248,171.11
258,354.07
268,537.04
___________ __________ ___________ _____________ ____________
238,267.77 332,982.22 372,256.66
387,531.11
402,805.55
___________ __________ ___________ _____________ ____________
0.00
0.00
0.00
0.00
0.00
6.62
19.54
8.32
25.88
9.31
28.94
9.69
30.13
10.07
31.31
----------------- ---------------- ---------------- ------------------- -----------------Ano 03

Ano 04
Ano 05
Ano 06
Ano 07
___________ __________ ___________ _____________ ____________
134,054.55
67,027.27
0.00
0.00
0.00
___________ __________ ___________ _____________ ____________
134,054.55
67,027.27
0.00
0.00
0.00
___________ __________ ___________ _____________ ____________
134,054.55
67,027.27
0.00
0.00
0.00
___________ __________ ___________ _____________ ____________
134,054.55
67,027.27
0.00
0.00
0.00
----------------- ---------------- ---------------- ------------------- -----------------Ano 04

Ano 05
Ano 06
Ano 07
Ano 08
___________ __________ ___________ _____________ ____________
397,112.95 554,970.36 620,427.77
645,885.18
671,342.59
158,845.18 221,988.15 248,171.11
258,354.07
268,537.04
206,800.00 206,800.00 166,800.00
166,800.00
166,800.00
0.00
0.00
0.00
0.00
0.00
67,027.27
0.00
0.00
0.00
0.00
378,040.50 539,782.22 539,056.66
554,331.11
569,605.55
254,574.09 254,574.09 254,574.09
254,574.09
254,574.09
___________ __________ ___________ _____________ ____________
123,466.41 285,208.13 284,482.57
299,757.02
315,031.46
401,110.48 686,318.61 970,801.18
1,270,558.20 1,585,589.66
0.67
0.47
0.47
0.46
0.45
----------------- ---------------- ---------------- ------------------- ------------------
Ano 03
Ano 04
Ano 05
Ano 06
Ano 07
2,800,000.00 3,600,000.00 4,000,000.00

4,000,000.00 4,000,000.00
1,690,800.00 2,089,200.00 2,288,400.00
2,288,400.00 2,288,400.00
___________ __________ ___________ _____________ ____________
1,394,400.00 1,792,800.00 1,992,000.00
1,992,000.00 1,992,000.00
296,400.00 296,400.00 296,400.00
296,400.00
296,400.00
642,800.00 779,600.00 848,000.00
848,000.00
848,000.00
___________ __________ ___________ _____________ ____________
144,000.00 144,000.00 144,000.00
144,000.00
144,000.00
478,800.00 615,600.00 684,000.00
684,000.00
684,000.00
152,744.45 127,287.05 101,829.64
76,372.23
50,914.82
206,800.00 206,800.00 206,800.00
166,800.00
166,800.00
___________ __________ ___________ _____________ ____________
106,855.55 397,112.95 554,970.36
620,427.77
645,885.18
42,742.22 158,845.18 221,988.15
248,171.11
258,354.07
152,744.45 127,287.05 101,829.64
76,372.23
50,914.82
206,800.00 206,800.00 206,800.00
166,800.00
166,800.00
___________ __________ ___________ _____________ ____________
423,657.78 572,354.82 641,611.85
615,428.89
605,245.93
254,574.09 254,574.09 254,574.09
254,574.09
254,574.09
152,744.45 127,287.05 101,829.64
76,372.23
50,914.82
___________ __________ ___________ _____________ ____________
16,339.24 190,493.68 285,208.13

284,482.57
299,757.02
____________________
__________________
________________
_________________
_________________
134,054.55
67,027.27
0.00
0.00
0.00
134,054.55
67,027.27
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
___________ __________ ___________ _____________ ____________
289,603.24 505,327.55 641,611.85
615,428.89
605,245.93
-117,715.31 123,466.41 285,208.13
284,482.57
299,757.02
----------------- ---------------- ---------------- ------------------- ------------------
100.0%
100.0%
Ano 09
Ano 10
144,000.00
144,000.00
1,600,000.00
1,600,000.00
48,000.00
48,000.00
200,000.00
200,000.00
_____________ __________________________________________________________________
1,992,000.00
1,992,000.00
108,000.00
108,000.00
38,400.00
38,400.00
150,000.00
150,000.00
0.00
0.00
_____________ __________________________________________________________________
296,400.00
296,400.00
2,288,400.00
2,288,400.00
296,400.00
296,400.00
144,000.00
144,000.00
20,000.00
20,000.00
_____________ __________________________________________________________________
460,400.00
460,400.00
1,992,000.00
1,992,000.00
480,000.00
480,000.00
200,000.00
200,000.00
4,000.00
4,000.00
0.00
0.00
_____________ __________________________________________________________________
2,676,000.00
2,676,000.00
_____________ __________________________________________________________________
3,136,400.00
3,136,400.00
4,000,000.00
4,000,000.00
------------------- --------------------------------------------------------------------------------------------------
_____________ __________________________________________________________________
36,363.64
74,909.09
44,731.82
545,454.55
156,027.27
857,486.36
36,363.64
74,909.09
44,731.82
545,454.55
156,027.27
857,486.36
109,090.91
54,545.45
109,090.91
54,545.45
693,850.00
693,850.00
0.00
0.00
_____________ __________________________________________________________________
857,486.36
857,486.36
------------------- --------------------------------------------------------------------------------------------------
------------------- --------------------------------------------------------------------------------------------------
ano9
ano10
_____________ __________________________________________________________________
4,000,000.00
4,000,000.00
_____________ __________________________________________________________________
2,288,400.00
2,288,400.00
_____________ __________________________________________________________________
144,000.00
144,000.00
1,600,000.00
1,600,000.00
48,000.00
48,000.00
200,000.00
200,000.00
1,992,000.00
1,992,000.00
108,000.00
108,000.00
38,400.00
38,400.00
150,000.00
150,000.00
0.00
0.00
296,400.00
296,400.00
_____________ __________________________________________________________________
1,711,600.00
1,711,600.00
_____________ __________________________________________________________________
848,000.00
848,000.00
_____________ __________________________________________________________________
144,000.00
144,000.00
20,000.00
20,000.00
200,000.00
200,000.00
480,000.00
480,000.00
4,000.00
4,000.00
0.00
0.00
_____________ __________________________________________________________________
684,000.00
684,000.00
0.00
0.00
166,800.00
166,800.00
_____________ __________________________________________________________________
696,800.00
696,800.00
_____________ __________________________________________________________________
278,720.00
278,720.00
_____________ __________________________________________________________________
418,080.00
418,080.00
_____________ __________________________________________________________________
0.00
0.00
10.45
32.50
10.45
32.50
------------------- ------------------- ------------------------------------------------------------------------------
Ano 08
Ano 09
Ano 10
Total
_____________ _____________ ______________ ______________________________________
0.00
420,000.00
1,500,000.00
200,000.00
0.00
0.00
0.00
693,850.00
_____________ _____________ ______________ ______________________________________
0.00
0.00
0.00 2,813,850.00
_____________ _____________ ______________ ______________________________________
1,527,444.55
0.00
0.00
0.00 1,286,405.45
_____________ _____________ ______________ ______________________________________
0.00
0.00
0.00 2,813,850.00
------------------- ------------------- --------------------- ------------------- ------------------
Ano 09
Ano 10
_____________ __________________________________________________________________
696,800.00
696,800.00
278,720.00
278,720.00
166,800.00
166,800.00
0.00
0.00
0.00
0.00
584,880.00
584,880.00
0.00
0.00
_____________ __________________________________________________________________
584,880.00
584,880.00
2,170,469.66
2,755,349.66
0.00
0.00
------------------- --------------------------------------------------------------------------------------------------
Ano 08
Ano 09
Ano 10
4,000,000.00
4,000,000.00
4,000,000.00
2,288,400.00
2,288,400.00
2,288,400.00
_____________ _____________ _____________________________________________________
1,992,000.00
1,992,000.00
1,992,000.00
296,400.00
296,400.00
296,400.00
848,000.00
848,000.00
848,000.00
_____________ _____________ _____________________________________________________
144,000.00
144,000.00
144,000.00
684,000.00
684,000.00
684,000.00
25,457.41
0.00
0.00
166,800.00
166,800.00
166,800.00
_____________ _____________ _____________________________________________________
671,342.59
696,800.00
696,800.00
268,537.04
278,720.00
278,720.00
25,457.41
0.00
0.00
166,800.00
166,800.00
166,800.00
_____________ _____________ _____________________________________________________
595,062.96
584,880.00
584,880.00
254,574.09
0.00
0.00
25,457.41
0.00
0.00
_____________ _____________ _____________________________________________________
315,031.46
584,880.00
584,880.00
_________________
__________________
__________________
0.00
0.00
-905,850.00
0.00
0.00
-905,850.00
0.00
0.00
0.00
_____________ _____________ _____________________________________________________
595,062.96
584,880.00
1,490,730.00
315,031.46
584,880.00
1,490,730.00
------------------- ------------------- ------------------------------------------------------------------------------
_______________________
_______________________
_______________________
_______________________
_______________________
-----------------------------------
_______________________
_______________________
-----------------------------------
---------------------------------------------- -----------
_______________________
_______________________
_______________________
_______________________
_______________________
_______________________
_______________________
_______________________
_______________________
_______________________
_______________________
---------------------------------------------- -----------
_______________________________
_______________________________
_______________________________
_______________________________
----------- ----------- -----------
_______________________
_______________________
----------------------------------- ----------- -----------
_______________________________________
_______________________________________
_______________________________________
_______________________________________
_______________________________________
_______________________________________
----------------------------------------------------------

Nome:
Fbrica de Surimi
terreno
0.00 R$
construo civil
420,000.00 R$
equip. e instalaes
1,500,000.00 R$
200,000.00 R$
___________________________
_______________
TOTAL
2,120,000.00 R$
matria-prima
seguros
pecas de reposio
fretes
comisses de vendas
Impostos

iv) Implantao
4,000,000.00 R$
1,600,000.00 R$
144,000.00 R$
108,000.00 R$
144,000.00 R$
3.0% s/ M.P.
5.0% s/ fat.
12.0% s/ vendas
0.0% s/ compras
10.0% descontado
1.0% ao ms
200,000.00 R$
0.00 R$
20,000.00 R$
0.00 R$
220 Dia(s)
v) Giro Prprio
vi) Financiamento
taxa de juros
carncia
amortizao
2
10
15
15
30
5
Dia(s)
Dia(s)
Dia(s)
Dia(s)
Dia(s)
Dia(s)

10.0%
2 Ano(s)
6 Ano(s)
vii) Outras
equip. inst.
dividendos
I.R.
40.0%
212,000.00
TMA
12.00 %aa
2.Resultados:
% Utilizao Capacidade:
matria-prima
fretes
subtotal 1
60.0%
70.0%
80.0%
Ano 01
Ano 02
Ano 03
86,400.00 100,800.00 115,200.00

960,000.00
### 1,280,000.00
28,800.00 33,600.00
38,400.00
120,000.00 140,000.00 160,000.00
1,195,200.00
### 1,593,600.00

seguros
manuteno
subtotal 2
subtotal Industrial
despesas admin.
subtotal 3
custos indust. dir.
Impostos (liquido)
vendas
desp. financeiras
subtotal 4
Receitas
108,000.00 108,000.00
38,400.00 38,400.00
150,000.00 150,000.00
0.00
0.00
108,000.00
38,400.00
150,000.00
0.00
296,400.00 296,400.00 296,400.00

1,491,600.00
### 1,890,000.00
296,400.00 296,400.00
144,000.00 144,000.00
20,000.00 20,000.00
296,400.00
144,000.00
20,000.00
460,400.00 460,400.00
460,400.00
1,195,200.00
### 1,593,600.00
288,000.00 336,000.00 384,000.00
120,000.00 140,000.00 160,000.00
2,400.00
2,800.00
3,200.00
0.00
0.00
0.00
1,605,600.00
### 2,140,800.00
2,066,000.00
2,400,000.00
### 2,601,200.00
### 3,200,000.00
--------------------------------------------------- ---------------- --------------- ---------------ii) Capital de Giro

Necessidades
disponibilidade
estoque de M.P.
estoque de P.E.
financ. de vendas
21,818.18 25,454.55
44,945.45 52,436.36
28,186.36 32,322.73
327,272.73 381,818.18
29,090.91
59,927.27
36,459.09
436,363.64
estoque de P.A .
Total
Coberturas
credito de fornec.
duplic. descontadas
giro existente
adicional de giro
101,700.00 115,281.82
523,922.73 607,313.64
65,454.55
32,727.27
128,863.64
690,704.55
76,363.64
38,181.82
87,272.73
43,636.36
425,740.91
425,740.91 67,027.27
492,768.18
67,027.27
Total
523,922.73 607,313.64 690,704.55
--------------------------------------------------- ---------------- --------------- ----------------
Saldo DevedorAmortizaes
Ano 00
Ano 01
Ano 02
Ano 03
Ano 04
Ano 05
Ano 06
Ano 07
Ano 08
Ano 09
Ano 10
Ano 11
Ano 12
1,527,444.55
1,527,444.55
1,527,444.55
1,527,444.55
1,272,870.45
1,018,296.36
763,722.27
509,148.18
254,574.09
0.00
0.00
0.00
0.00
0.00
0.00
254,574.09
254,574.09
254,574.09
254,574.09
254,574.09
254,574.09
0.00
0.00
0.00
0.00
Juros
152,744.45
152,744.45
152,744.45
127,287.05
101,829.64
76,372.23
50,914.82
25,457.41
0.00
0.00
0.00
0.00
--------------------------------------------------- ---------------- --------------- ----------------
ano1
ano2
ano3
___________________________________
______________________ __________
Receitas
2,400,000.00
### 3,200,000.00
___________________________________
___________ __________ __________
1,491,600.00
### 1,890,000.00
___________________________________
___________ __________ __________
a) Diretos: M.O.D.
86,400.00 100,800.00 115,200.00
M.P.
960,000.00
### 1,280,000.00
Fretes
28,800.00 33,600.00
38,400.00
outros
120,000.00 140,000.00 160,000.00
Total Dir.
1,195,200.00
### 1,593,600.00
108,000.00 108,000.00 108,000.00
Segs.
38,400.00 38,400.00
38,400.00
Manut.
150,000.00 150,000.00 150,000.00
outros
0.00
0.00
0.00
Total Ind.
296,400.00 296,400.00 296,400.00
___________________________________
___________ __________ __________
(=) lucro bruto
908,400.00
### 1,310,000.00
___________________________________
___________ __________ __________
(-) Desp. Gerais
574,400.00 642,800.00 711,200.00
__________________________________________ __________ __________
144,000.00 144,000.00 144,000.00
outras
20,000.00 20,000.00
20,000.00
b) Variveis: Vendas
120,000.00 140,000.00 160,000.00
Impostos
288,000.00 336,000.00 384,000.00
Financ.
2,400.00
2,800.00
3,200.00
Outras
0.00
0.00
0.00
_____
___________ __________ __________
Total Var.
410,400.00 478,800.00 547,200.00
152,744.45 152,744.45 152,744.45
206,800.00 206,800.00 206,800.00
__________________________________________ __________ __________
-25,544.45 106,855.55 239,255.55
__________________________________________ __________ __________

(-) I.R.
-10,217.78 42,742.22
95,702.22
__________________________________________ __________ __________
-15,326.67 64,113.33 143,553.33
__________________________________________ __________ __________
Dividendos
0.00
0.00
0.00
ndices:
lucratividade (%)
rentabilidade (%)
-0.64
-1.51
2.29
5.91
4.49
12.46
--------------------------------------------------- ---------------- --------------- ---------------iv) Quadro de Usos e Fontes

Ano 00
Ano 01
Ano 02
__________________________________ ___________ __________ __________
usos:
Fixo: terreno
0.00
const. civil
420,000.00
equip. inst.
1,500,000.00
projetos
200,000.00
Giro
_____________
Total
_________________________
fontes:
Financiamentos
Rec. Prprios
_____________
Total
425,740.91 67,027.27
67,027.27
___________ __________ __________
2,545,740.91 67,027.27
67,027.27
___________ __________ __________
1,527,444.55
1,018,296.36 67,027.27
67,027.27
___________ __________ __________
2,545,740.91 67,027.27
67,027.27
--------------------------------------------------- ---------------- --------------- ---------------v) Capacidade de Pagamento
Ano 01
Ano 02
Ano 03
___________________________________
___________ __________ __________
-25,544.45 106,855.55 239,255.55
(-) I.R.
-10,217.78 42,742.22
95,702.22
206,800.00 206,800.00 206,800.00
(-) Dividendos
0.00
0.00
0.00
67,027.27 67,027.27 134,054.55
124,446.05 203,886.05 216,298.78
b (-) Amortizao
0.00
0.00 254,574.09
________________________________________ __________ __________
(=) Saldo Final
124,446.05 203,886.05 -38,275.31
Saldo Acumulado
124,446.05 328,332.11 290,056.80
0.00
0.00
1.18
--------------------------------------------------- ---------------- --------------- ---------------vi) Analise do Retorno
Ano 00
Ano 01
Ano 02
Receitas
### 2,800,000.00
### 1,690,800.00
__________________________________________ __________ __________
C.I.D.
### 1,394,400.00
C.I.I.
296,400.00 296,400.00
(-) Desp. Gerais
554,400.00 642,800.00
__________________________________________ __________ __________
fixas
144,000.00 144,000.00
variveis
410,400.00 478,800.00
152,744.45 152,744.45
206,800.00 206,800.00
__________________________________________ __________ __________
-25,544.45 106,855.55
(-) I.R.
-10,217.78
42,742.22
152,744.45 152,744.45
206,800.00 206,800.00
__________________________________________ __________ __________
344,217.78 423,657.78
(-) Amort. Financ.

0.00
0.00
152,744.45 152,744.45
__________________________________________ __________ __________
191,473.33 270,913.33
________________________________
____________________
_____________________
___________________
(-) Rec. Prprios
1,018,296.36 67,027.27
67,027.27
(-) Investimento
2,545,740.91 67,027.27
67,027.27
(+) Financ.
1,527,444.55
0.00
0.00
__________________________________________ __________ __________
(=) Fx. Empr. Final
-2,545,740.91 277,190.51 356,630.51
-1,018,296.36 124,446.05 203,886.05
--------------------------------------------------- ---------------- --------------- ---------------tir empreendimento(%aa)
17.97
tir acionista (%aa)
23.34
eno + giro
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Ano 04
Ano 05
Ano 06
Ano 07
Ano 08
Ano 09
144,000.00 144,000.00 144,000.00 144,000.00 144,000.00 144,000.00

1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00
48,000.00 48,000.00 48,000.00
48,000.00
48,000.00 48,000.00
200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00
108,000.00 108,000.00 108,000.00

38,400.00 38,400.00 38,400.00
150,000.00 150,000.00 150,000.00
0.00
0.00
0.00
108,000.00
38,400.00
150,000.00
0.00
108,000.00 108,000.00
38,400.00 38,400.00
150,000.00 150,000.00
0.00
0.00
296,400.00 296,400.00 296,400.00 296,400.00 296,400.00 296,400.00

2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00
296,400.00 296,400.00 296,400.00

144,000.00 144,000.00 144,000.00
20,000.00 20,000.00 20,000.00
296,400.00
144,000.00
20,000.00
296,400.00 296,400.00
144,000.00 144,000.00
20,000.00 20,000.00
460,400.00 460,400.00 460,400.00
460,400.00
460,400.00 460,400.00
1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00

480,000.00 480,000.00 480,000.00 480,000.00 480,000.00 480,000.00
200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
4,000.00
4,000.00
4,000.00
4,000.00
4,000.00
4,000.00
0.00
0.00
0.00
0.00
0.00
0.00
2,676,000.00 2,676,000.00 2,676,000.00 2,676,000.00 2,676,000.00 2,676,000.00
3,136,400.00 3,136,400.00 3,136,400.00 3,136,400.00 3,136,400.00 3,136,400.00
4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00
---------------- --------------- --------------- ---------------- ---------------- ---------------
36,363.64 36,363.64 36,363.64

74,909.09 74,909.09 74,909.09
44,731.82 44,731.82 44,731.82
545,454.55 545,454.55 545,454.55
36,363.64
74,909.09
44,731.82
545,454.55
36,363.64 36,363.64
74,909.09 74,909.09
44,731.82 44,731.82
545,454.55 545,454.55
156,027.27 156,027.27 156,027.27

857,486.36 857,486.36 857,486.36
156,027.27
857,486.36
156,027.27 156,027.27
857,486.36 857,486.36
109,090.91 109,090.91 109,090.91

54,545.45 54,545.45 54,545.45
109,090.91
54,545.45
109,090.91 109,090.91
54,545.45 54,545.45
559,795.45 693,850.00 693,850.00

134,054.55
0.00
0.00
693,850.00
0.00
693,850.00 693,850.00
0.00
0.00
857,486.36 857,486.36 857,486.36 857,486.36 857,486.36 857,486.36

---------------- --------------- --------------- ---------------- ---------------- ---------------
Prestaes
Saldo Final
152,744.45 1,527,444.55
152,744.45 1,527,444.55
407,318.55 1,272,870.45
381,861.14 1,018,296.36
356,403.73 763,722.27
330,946.32 509,148.18
305,488.91 254,574.09
280,031.50
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
---------------- --------------- --------------- ---------------- ---------------- ---------------
ano4
ano5
ano6
ano7
ano8
ano9
__________ __________ __________ ___________ ___________ __________
4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00
__________ __________ __________ ___________ ___________ __________
2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00
__________ __________ __________ ___________ ___________ __________
144,000.00 144,000.00 144,000.00 144,000.00 144,000.00 144,000.00
1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00
48,000.00 48,000.00 48,000.00
48,000.00
48,000.00 48,000.00
200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00
108,000.00 108,000.00 108,000.00 108,000.00 108,000.00 108,000.00
38,400.00 38,400.00 38,400.00
38,400.00
38,400.00 38,400.00
150,000.00 150,000.00 150,000.00 150,000.00 150,000.00 150,000.00
0.00
0.00
0.00
0.00
0.00
0.00
296,400.00 296,400.00 296,400.00 296,400.00 296,400.00 296,400.00
__________ __________ __________ ___________ ___________ __________
1,711,600.00 1,711,600.00 1,711,600.00 1,711,600.00 1,711,600.00 1,711,600.00
__________ __________ __________ ___________ ___________ __________
848,000.00 848,000.00 848,000.00 848,000.00 848,000.00 848,000.00
__________ __________ __________ ___________ ___________ __________
144,000.00 144,000.00 144,000.00 144,000.00 144,000.00 144,000.00
20,000.00 20,000.00 20,000.00
20,000.00
20,000.00 20,000.00
200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
480,000.00 480,000.00 480,000.00 480,000.00 480,000.00 480,000.00
4,000.00
4,000.00
4,000.00
4,000.00
4,000.00
4,000.00
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ ___________ ___________ __________
684,000.00 684,000.00 684,000.00 684,000.00 684,000.00 684,000.00
127,287.05 101,829.64
76,372.23
50,914.82
25,457.41
0.00
206,800.00 206,800.00 166,800.00 166,800.00 166,800.00 166,800.00

__________ __________ __________ ___________ ___________ __________
529,512.95 554,970.36 620,427.77 645,885.18 671,342.59 696,800.00
__________ __________ __________ ___________ ___________ __________

211,805.18 221,988.15 248,171.11 258,354.07 268,537.04 278,720.00
__________ __________ __________ ___________ ___________ __________
317,707.77 332,982.22 372,256.66 387,531.11 402,805.55 418,080.00
__________ __________ __________ ___________ ___________ __________
0.00
0.00
0.00
0.00
0.00
0.00
7.94
24.70
8.32
25.88
9.31
28.94
9.69
30.13
10.07
31.31
10.45
32.50
---------------- --------------- --------------- ---------------- ---------------- --------------Ano 03

Ano 04
Ano 05
Ano 06
Ano 07
Ano 08
__________ __________ __________ ___________ ___________ __________
134,054.55
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ ___________ ___________ __________
134,054.55
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ ___________ ___________ __________
134,054.55
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ ___________ ___________ __________
134,054.55
0.00
0.00
0.00
0.00
0.00
---------------- --------------- --------------- ---------------- ---------------- --------------Ano 04
Ano 05
Ano 06
Ano 07
Ano 08
Ano 09
__________ __________ __________ ___________ ___________ __________

529,512.95 554,970.36 620,427.77 645,885.18 671,342.59 696,800.00
211,805.18 221,988.15 248,171.11 258,354.07 268,537.04 278,720.00
206,800.00 206,800.00 166,800.00 166,800.00 166,800.00 166,800.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
524,507.77 539,782.22 539,056.66 554,331.11 569,605.55 584,880.00
254,574.09 254,574.09 254,574.09 254,574.09 254,574.09
0.00
__________ __________ __________ ___________ ___________ __________
269,933.68 285,208.13 284,482.57 299,757.02 315,031.46 584,880.00
559,990.48 845,198.61 1,129,681.18 1,429,438.20 1,744,469.66 2,329,349.66
0.49
0.47
0.47
0.46
0.45
0.00
---------------- --------------- --------------- ---------------- ---------------- --------------Ano 03
Ano 04
Ano 05
Ano 06
Ano 07
Ano 08
3,200,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00

1,890,000.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00
__________ __________ __________ ___________ ___________ __________
1,593,600.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00
296,400.00 296,400.00 296,400.00 296,400.00 296,400.00 296,400.00
711,200.00 848,000.00 848,000.00 848,000.00 848,000.00 848,000.00
__________ __________ __________ ___________ ___________ __________
144,000.00 144,000.00 144,000.00 144,000.00 144,000.00 144,000.00
547,200.00 684,000.00 684,000.00 684,000.00 684,000.00 684,000.00
152,744.45 127,287.05 101,829.64
76,372.23
50,914.82 25,457.41
206,800.00 206,800.00 206,800.00 166,800.00 166,800.00 166,800.00
__________ __________ __________ ___________ ___________ __________
239,255.55 529,512.95 554,970.36 620,427.77 645,885.18 671,342.59
95,702.22 211,805.18 221,988.15 248,171.11 258,354.07 268,537.04
152,744.45 127,287.05 101,829.64
76,372.23
50,914.82 25,457.41
206,800.00 206,800.00 206,800.00 166,800.00 166,800.00 166,800.00
__________ __________ __________ ___________ ___________ __________
503,097.78 651,794.82 641,611.85 615,428.89 605,245.93 595,062.96
254,574.09 254,574.09 254,574.09 254,574.09 254,574.09 254,574.09

152,744.45 127,287.05 101,829.64
76,372.23
50,914.82 25,457.41
__________ __________ __________ ___________ ___________ __________
95,779.24 269,933.68 285,208.13 284,482.57 299,757.02 315,031.46

___________________
__________________
________________
_________________
_________________
_________________
134,054.55
0.00
0.00
0.00
0.00
0.00
134,054.55
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ ___________ ___________ __________
369,043.24 651,794.82 641,611.85 615,428.89 605,245.93 595,062.96
-38,275.31 269,933.68 285,208.13 284,482.57 299,757.02 315,031.46
---------------- --------------- --------------- ---------------- ---------------- ---------------
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Ano 10
Ano 11
Ano 12
Ano 13
Ano 14
Ano 15
144,000.00 144,000.00 144,000.00 144,000.00 144,000.00 144,000.00

1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00
###
48,000.00
48,000.00
48,000.00
48,000.00
48,000.00 48,000.00
200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00
###
108,000.00
38,400.00
150,000.00
0.00
108,000.00 108,000.00
38,400.00
38,400.00
150,000.00 150,000.00
0.00
0.00
108,000.00
38,400.00
150,000.00
0.00
108,000.00 108,000.00
38,400.00 38,400.00
150,000.00 150,000.00
0.00
0.00
296,400.00 296,400.00 296,400.00 296,400.00 296,400.00 296,400.00

2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00
###
296,400.00
144,000.00
20,000.00
296,400.00
144,000.00
20,000.00
296,400.00
144,000.00
20,000.00
296,400.00
144,000.00
20,000.00
296,400.00 296,400.00
144,000.00 144,000.00
20,000.00 20,000.00
460,400.00
460,400.00
460,400.00
460,400.00
460,400.00 460,400.00
1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00

###
480,000.00 480,000.00 480,000.00 480,000.00 480,000.00 480,000.00
200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
4,000.00
4,000.00
4,000.00
4,000.00
4,000.00
4,000.00
0.00
0.00
0.00
0.00
0.00
0.00
2,676,000.00 2,676,000.00 2,676,000.00 2,676,000.00 2,676,000.00
###
3,136,400.00 3,136,400.00 3,136,400.00 3,136,400.00 3,136,400.00

4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00
###
###
--------------- ---------------- --------------- ---------------- --------------- ---------------
36,363.64
74,909.09
44,731.82
545,454.55
36,363.64
74,909.09
44,731.82
545,454.55
36,363.64
74,909.09
44,731.82
545,454.55
36,363.64
74,909.09
44,731.82
545,454.55
36,363.64 36,363.64
74,909.09 74,909.09
44,731.82 44,731.82
545,454.55 545,454.55
156,027.27
857,486.36
156,027.27
857,486.36
156,027.27
857,486.36
156,027.27
857,486.36
156,027.27 156,027.27
857,486.36 857,486.36
109,090.91
54,545.45
109,090.91
54,545.45
109,090.91
54,545.45
109,090.91
54,545.45
109,090.91 109,090.91
54,545.45 54,545.45
693,850.00
0.00
693,850.00 693,850.00
0.00
0.00
693,850.00
0.00
693,850.00 693,850.00
0.00
0.00
857,486.36 857,486.36 857,486.36 857,486.36 857,486.36 857,486.36

--------------- ---------------- --------------- ---------------- --------------- ---------------
--------------- ---------------- --------------- ---------------- --------------- ---------------
ano10
ano11
ano12
ano13
ano14
ano15
__________ __________ __________ __________ __________ __________
4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00
###
__________ __________ __________ __________ __________ __________
2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00
###
__________ __________ __________ __________ __________ __________
144,000.00 144,000.00 144,000.00 144,000.00 144,000.00 144,000.00
1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00 1,600,000.00
###
48,000.00
48,000.00
48,000.00
48,000.00
48,000.00 48,000.00
200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00
###
108,000.00 108,000.00 108,000.00 108,000.00 108,000.00 108,000.00
38,400.00
38,400.00
38,400.00
38,400.00
38,400.00 38,400.00
150,000.00 150,000.00 150,000.00 150,000.00 150,000.00 150,000.00
0.00
0.00
0.00
0.00
0.00
0.00
296,400.00 296,400.00 296,400.00 296,400.00 296,400.00 296,400.00
__________ __________ __________ __________ __________ __________
1,711,600.00 1,711,600.00 1,711,600.00 1,711,600.00 1,711,600.00
###
__________ __________ __________ __________ __________ __________
848,000.00 848,000.00 848,000.00 848,000.00 848,000.00 848,000.00
__________ __________ __________ __________ __________ __________
144,000.00 144,000.00 144,000.00 144,000.00 144,000.00 144,000.00
20,000.00
20,000.00
20,000.00
20,000.00
20,000.00 20,000.00
200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00
480,000.00 480,000.00 480,000.00 480,000.00 480,000.00 480,000.00
4,000.00
4,000.00
4,000.00
4,000.00
4,000.00
4,000.00
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ __________ __________ __________
684,000.00 684,000.00 684,000.00 684,000.00 684,000.00 684,000.00
0.00
0.00
0.00
0.00
0.00
0.00
166,800.00
16,800.00
16,800.00
16,800.00
16,800.00 16,800.00
__________ __________ __________ __________ __________ __________
696,800.00 846,800.00 846,800.00 846,800.00 846,800.00 846,800.00
__________ __________ __________ __________ __________ __________

278,720.00 338,720.00 338,720.00 338,720.00 338,720.00 338,720.00
__________ __________ __________ __________ __________ __________
418,080.00 508,080.00 508,080.00 508,080.00 508,080.00 508,080.00
__________ __________ __________ __________ __________ __________
0.00
0.00
0.00
0.00
0.00
0.00
10.45
32.50
12.70
39.50
12.70
39.50
12.70
39.50
12.70
39.50
12.70
39.50
--------------- ---------------- --------------- ---------------- --------------- --------------Ano 09

Ano 10
Ano 11
Ano 12
Ano 13
Ano 14
__________ __________ __________ __________ __________ __________
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ __________ __________ __________
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ __________ __________ __________
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ __________ __________ __________
0.00
0.00
0.00
0.00
0.00
0.00
--------------- ---------------- --------------- ---------------- --------------- --------------Ano 10
Ano 11
Ano 12
Ano 13
Ano 14
Ano 15
__________ __________ __________ __________ __________ __________

696,800.00 846,800.00 846,800.00 846,800.00 846,800.00 846,800.00
278,720.00 338,720.00 338,720.00 338,720.00 338,720.00 338,720.00
166,800.00
16,800.00
16,800.00
16,800.00
16,800.00 16,800.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
584,880.00 524,880.00 524,880.00 524,880.00 524,880.00 524,880.00
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ __________ __________ __________
584,880.00 524,880.00 524,880.00 524,880.00 524,880.00 524,880.00
2,914,229.66 3,439,109.66 3,963,989.66 4,488,869.66 5,013,749.66
###
0.00
0.00
0.00
0.00
0.00
0.00
--------------- ---------------- --------------- ---------------- --------------- --------------Ano 09
Ano 10
Ano 11
Ano 12
Ano 13
Ano 14
4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00 4,000,000.00

###
2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00 2,288,400.00
###
__________ __________ __________ __________ __________ __________
1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00 1,992,000.00
###
296,400.00 296,400.00 296,400.00 296,400.00 296,400.00 296,400.00
848,000.00 848,000.00 848,000.00 848,000.00 848,000.00 848,000.00
__________ __________ __________ __________ __________ __________
144,000.00 144,000.00 144,000.00 144,000.00 144,000.00 144,000.00
684,000.00 684,000.00 684,000.00 684,000.00 684,000.00 684,000.00
0.00
0.00
0.00
0.00
0.00
0.00
166,800.00 166,800.00
16,800.00
16,800.00
16,800.00 16,800.00
__________ __________ __________ __________ __________ __________
696,800.00 696,800.00 846,800.00 846,800.00 846,800.00 846,800.00
278,720.00 278,720.00 338,720.00 338,720.00 338,720.00 338,720.00
0.00
0.00
0.00
0.00
0.00
0.00
166,800.00 166,800.00
16,800.00
16,800.00
16,800.00 16,800.00
__________ __________ __________ __________ __________ __________
584,880.00 584,880.00 524,880.00 524,880.00 524,880.00 524,880.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ __________ __________ __________
584,880.00 584,880.00 524,880.00 524,880.00 524,880.00 524,880.00
__________________
__________________
_____________________
___________________
__________________
________________
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
__________ __________ __________ __________ __________ __________
584,880.00 584,880.00 524,880.00 524,880.00 524,880.00 524,880.00
584,880.00 584,880.00 524,880.00 524,880.00 524,880.00 524,880.00
--------------- ---------------- --------------- ---------------- --------------- ---------------
--------------- ----------------
--------------- ---------------Ano 15
Total
__________ __________
0.00
420,000.00
1,500,000.00
200,000.00
0.00 693,850.00
__________ __________
0.00 2,813,850.00
__________ __________
1,527,444.55
0.00 1,286,405.45
__________ __________
0.00 2,813,850.00
---------------
--------------- ---------------Ano 15
4,000,000.00
2,288,400.00
_____________________
1,992,000.00
296,400.00
848,000.00
_____________________
144,000.00
684,000.00
0.00
16,800.00
__________ __________
846,800.00
338,720.00
0.00
16,800.00
_____________________
524,880.00
0.00
0.00
_____________________
524,880.00
___________________
________________
-905,850.00
-905,850.00
0.00
__________ __________
1,430,730.00
1,430,730.00
--------------- ----------------

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1.

Informaes Sobre o Projeto:

Energia eltrica, Outras desp.Op.var.

mo de obra varivel e encargos

Total Geral dos Custos

ii) Capital de Giro

(-) Desp. Gerais

-------------------------------------------------------- -------------------- -----------------iv) Quadro de Usos e Fontes

-------------------------------------------------------- -------------------- -----------------v) Capacidade de Pagamento

vi) Analise do Retorno

(-) Desp. Gerais

(-) Juros do Financ.

(=) Fluxo Operacional do Acionista

-------------------------------------------------------- -------------------- -----------------tir empreendimento(%aa)

ivil, equip. e inst.

------------------- -------------------- ------------------- ------------------ ------------------

------------------- -------------------- ------------------- ------------------ ------------------

------------------- -------------------- ------------------- ---------------------------------------------------------

----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------

----------- ----------- ----------- ----------- ----------- ----------- ----------- ----------- -----------

1.Informaes Sobre o Projeto:

Energia eltrica, Outras desp.Op.var.

mo de obra varivel e encargos

----------------- ----------------ii) Capital de Giro

(-) Desp. Gerais

-------------------------------------------------------- ----------------- ----------------iv) Quadro de Usos e Fontes

-------------------------------------------------------- ----------------- ----------------v) Capacidade de Pagamento

vi) Analise do Retorno

(-) Desp. Gerais

(-) Juros do Financ.

(=) Fluxo Operacional do Acionista

-------------------------------------------------------- ----------------- ----------------tir empreendimento(%aa)

.civil, equip. e inst.

nv. fixo - terreno

----------------- ----------------- ---------------- ---------------- -------------------

____________ ___________ __________ ___________ _____________

----------------- ----------------- ---------------- ---------------- ------------------Ano 02

----------------- ----------------- ---------------- ---------------- ------------------Ano 03

----------------- ----------------- ---------------- ---------------- -------------------

------------------ ------------------- -------------------------------------------------------------------------------

____________ _____________ _____________________________________________________

------------------ ------------------- -------------------------------------------------------------------------------

------------------ ------------------- ------------------- -----------------------------------------------------------

------------------ ------------------- ------------------- --------------------- -------------------

------------------ ------------------- ------------------- -----------------------------------------------------------

------------------ ----------- ----------- -----------

------------------------------------------------------ ----------- -----------

1.Informaes Sobre o Projeto:

Outros Custos Ind. Diretos

mo-de-obra direta e encargos

Total Geral dos Custos

ii) Capital de Giro

(-) Desp. Gerais

-------------------------------------------------------- ------------------ -----------------iv) Quadro de Usos e Fontes

-------------------------------------------------------- ------------------ -----------------v) Capacidade de Pagamento

vi) Analise do Retorno

(-) Desp. Gerais

(-) Juros do Financ.

(=) Fluxo Operacional do Acionista

-------------------------------------------------------- ------------------ -----------------tir empreendimento(%aa)

ivil, equip. e inst.

v. fixo - terreno + giro

------------------- -------------------- ------------------- ------------------ ------------------

------------------- -------------------- ------------------- ------------------ ------------------

______ _ _ _________

______ _ _______________________________________________

_____ _ _ ______

______________________________

____ _ _ ____

____ _ _ ____