Académique Documents
Professionnel Documents
Culture Documents
DATOS
Capital de Trabajo
Financiamiento
30
4%
prestamo(MMUS$ del ao 0)
tasa de interes (anual)
plazo para amortizar (aos)
forma de pago
IPA
MIBK
1
0
0
740000
0.9
1.27
1.42
72
64
44
112
2200
1620
10%
2%
1%
0.50%
30%
sin valor al rescate
10
1
10%
1%
2
0
0
3
0
0
10
25
15
20
60
10%
4
amortizacion
constante
Precios(MUS$/TM)
4
0
0
5
0
0
6
0
0
7
0
0
8
0
0
9
0
0
10
0
0
10
Produccion
Acetona
2591.01 2591.01
2591.01 2591.01
2591.01
MIBK
1824.66 1824.66
1824.66 1824.66
1824.66
IPA
3290.59 3290.59
3290.59 3290.59
3290.59
Acetona
2591.01 2591.01
2591.01 2591.01
2591.01
Requerimiento
Ventas (TM/DC)
Precio (MUS$/TM)
MUS$/DC
MMUS$/ao
1
2
1824.6
6
1824.66
4
1824.6
1824.66
6
1824.66
10
1.25
2280.8
2244.33
2
2244.33
799.2
819.18
819.18
812.52
832.5
1.23
1.2
1.22
2189.5
9
2226.08
812.52
1.23
1.22
1.23
819.18
1.25
832.5
1.23
819.18
1.24
825.84
10
3290.59
0.5
1645.29
3290.59
0.52
1711.11
3290.59
0.52
1711.11
3290.59
0.51
1678.20
3290.59
0.51
1678.20
3290.59
0.53
1744.01
3290.59
0.5
1645.29
3290.59
0.52
1711.11
3290.59
0.52
1711.11
3290.59
0.51
1678.20
612.5428
636.56413
624.55348 624.55348 612.54284
44
612.542844
2
600.5322
8
8
4
2591.01
2591.01
2591.01
2591.01
2591.01
2591.01
2591.01
2591.01
2591.01
2591.01
44
44
44
44
44
44
44
44
44
44
114.0046 114.004602
114.0046
114.00460 114.00460 114.00460 114.00460 114.00460
03
7
114.0046027
03
114.0046027
27
27
27
27
27
41.61168 41.61168
41.61168 41.61168
41.61168
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
2.2
7.2
1.44
10.84
652.98
1789.00
0.69
677.01
1854.81
0.72
677.01
1854.81
0.72
664.99
1821.90
0.70
664.99
1821.90
0.70
689.02
1887.71
0.73
652.98
1789.00
0.69
677.01
1854.81
0.72
677.01
1854.81
0.72
664.99
1821.90
0.70
10
2591.01
2591.01
2591.01
2591.01
2591.01
2591.01
2591.01
2591.01
0.72
0.70
0.70
0.73
0.69
0.72
0.72
0.70
Materia prima
(acetona)
TM/DC
MUS$/TM
2591.01 2591.01
0.69
0.72
MUS$/DC
1789.00 1854.81
1854.81
1821.90
1821.90
1887.71
1789.00
1854.81
1854.81
1821.90
MMUS$/ao
652.98
677.01
677.01
664.99
664.99
689.02
652.98
677.01
677.01
664.99
TM (de MIBK)/DC
US$/TM (de costos de
operac)
1824.66 1824.66
1824.66
1824.66
1824.66
1824.66
1824.66
1824.66
1824.66
1824.66
112
112
112
112
112
112
112
112
112
112
MUS$/DC
204.36
204.36
204.36
204.36
204.36
204.36
204.36
204.36
204.36
204.36
MMUS$/ao
Costos fijos
(MMUS$/ao)
74.59
74.59
74.59
74.59
74.59
74.59
74.59
74.59
74.59
74.59
Mano de obra
1.62
1.62
1.62
1.62
1.62
1.62
1.62
1.62
1.62
1.62
Mantenimiento
6.4
6.4
6.4
6.4
6.4
6.4
6.4
6.4
6.4
6.4
Seguro
1.28
1.28
1.28
1.28
1.28
1.28
1.28
1.28
1.28
1.28
Total fijos
9.3
9.3
9.3
9.3
9.3
9.3
9.3
9.3
9.3
9.3
MMUS$/ao
736.88
760.90
760.90
748.89
748.89
772.91
736.88
760.90
760.90
748.89
MUS$/DC
2018.84 2084.65
2084.65
2051.74
2051.74
2117.56
2018.84
2084.65
2084.65
2051.74
1.14
1.12
1.12
1.16
1.11
1.14
1.14
1.12
Costos variables
Costo de produccion
MUS$/TM
1.11
1.14
Servicio de la deuda
0
60
45
30
15
Amortizacion
15
15
15
15
Intereses
4.5
1.5
amortizacion
14.42
13.87
13.33
12.82
Intereses
5.77
4.16
2.67
1.28
Moneda corriente
Deuda
Moneda constante
(US$ de 0)
Efecto de la inflacion
efecto de la inflacion
acumulado
0.58
0.58
1.13
1.71
1.67
3.37
2.18
5.55
10
3290.587397
3290.587397
3290.5874
3290.587397
3656.208219
3656.20822
3656.208219
109.6862466
0.52
109.686247
0.51
109.6862466
0.51
57.03684822
55.9399858
55.93998575
Activo circulante
Inv de materia prima(30 dias)
TM/DC 3290.5874
2591.013699
2591.013699
2591.0137
2591.013699
TM/DO 2878.90411
2878.90411
2878.90411
2878.90411
2878.90411
2878.90411
2878.90411
2878.90411
2878.90411
2878.90411
MTM/ao 28.7890411
28.7890411
28.7890411
28.7890411
28.7890411
28.7890411
28.7890411
28.7890411
28.7890411
28.7890411
0.715862166
0.70316217
0.703162166
20.60898533
20.2433645
20.24336451
1824.657534
1824.65753
1824.657534
TM/DO 2027.39726
2027.39726
2027.39726
2027.39726
2027.39726
2027.39726
50.68493151
50.6849315
50.68493151
MUS$/TM 1.10642024
1.14248824
1.14248824
1.12445424
1.12445424
1.16052224
1.10642024
1.14248824
1.14248824
1.12445424
MMUS$/ao 56.0788341
57.9069382
57.9069382
56.9928861
56.99288615
58.82099026 56.07883409
57.9069382
57.9069382
56.99288615
2244.328767
2280.82192
2244.328767
33.66493151
34.2123288
33.66493151
163.643537 168.9440046
169.2177033
167.388565
166.8411679
MUS$/DC
1645.2937
1711.105447
1711.105447
1678.19957
1678.199573
MMUS$/ao
Capital de trabajo
32.905874
34.22210893
34.22210893
33.5639915
33.56399145
MMUS$/ao
130.737663 134.7218957
134.9955943
133.824574
133.2771765
130.737663 3.984232986
0.27369863
-1.1710206
-0.54739726
2027.39726
2027.39726
2027.39726
2027.39726
171.32054
Capital de trabajo
MMUS$/ao
-0.54739726 -134.9955943
10
799.2
812.52
819.18
832.5
819.18
812.52
819.18
832.5
819.18
825.84
Egtresos
Materia prima
costos variables
Costos fijos
Gastos de produccion
Utilidad bruta
612.5428
636.56413
624.55348 624.55348 612.54284
44
612.542844
2
600.5322
8
8
4
116.2036
116.20368
8
116.20368 116.20368 116.20368 116.20368 116.20368 116.20368
116.20368
20.14
20.14
20.14
20.14
20.14
20.14
20.14
20.14
20.14
20.14
736.8758
748.8865
772.90781
760.89716 760.89716 748.88652
8
760.897168 760.897168
24
748.886524
2
736.87588
8
8
4
83.61347
62.32412 51.622832 58.282832
6
70.293476 39.612188 82.30412 71.602832 58.282832 76.953476
Gastos administrativos
7.992
8.1252
8.1918
Gastos de ventas
3.996
4.0626
4.0959
Utilidad de operacin
depreciacion
Renta neta
impuesto a la renta
utilidad neta
reserva legal
utilidad retenida
dividendos
Perdida
50.33612 39.435032
13.6
13.6
36.73612 25.835032
11.02083
6
7.7505096
25.71528
4
18.0845224
2.571528
4
1.80845224
0.257152 0.18084522
84
4
22.88660 16.0952249
28
4
0
8.325
8.1918
4.1625
4.0959
71.12597
45.995132
6
58.005776
13.6
13.6
57.52597
32.395132
6
17.25779
9.7185396
28
40.26818
22.6765924
32
4.026818
2.26765924
32
0.402681
0.226765924
83
35.83868
20.18216724
3
0
13.6
44.405776
13.3217328
31.0840432
3.10840432
0.310840432
27.66479845
0
8.1252
8.1918
8.325
8.1918
8.2584
4.0626
4.0959
4.1625
4.0959
4.1292
13.6
13.6
13.6
13.6
32.395132 50.965876
15.289762
9.7185396
8
22.676592 35.676113
4
2
2.2676592 3.5676113
4
2
0.2267659 0.3567611
24
32
20.182167 31.751740
24
75
0
0
Inversion
capital fijo
utilidad neta
depreciacion
10
136
130.7376 3.984232 0.2736 1.1710206 0.54739 3.16313 4.88155 3.98423 0.54739 134.99
627
986
9863
03
726
7096
4959
2986
726
559
Capital de trabajo
total inversion
91.42237 27.70028 36.002 55.039203 45.2314 20.1139 57.9730 41.4764 36.8239 184.27
Flujo neto de fondos -136
871
941
8938
8
4046
345
4896
9941
8966 1708
91.42237
Aportes
136
871
0
0
0
0
0
0
0
0
0
22.88660 16.095 20.182167 35.8386 27.6647 8.61259 35.1474 28.3560 20.182
Dividendos
0
0
276
2249
24
8305
9845
3724
2966
5184 1672
Saldo anual
Caja acumulada
10
Activo
Caja Banco
136
Total activo
136
4.81368665
0
4
54.8431232 57.0368482
9
2
19.8777436 20.6089853
8
3
56.0788340
9
57.9069382
32.8438356 33.3912328
2
8
24.7213
555
57.0368
482
20.6089
853
57.9069
382
33.6649
315
59.57839205
55.93998575
20.24336451
56.99288615
34.21232877
122.4
108.8
95.2
81.6
286.043536 282.557691 289.139
7
3
059 308.5669572
136
136
1
799.2
2
812.52
3
819.18
4
832.5
5
819.18
612.54284
4
612.542844
6
812.52
7
819.18
8
832.5
9
819.18
10
825.84
Materia prima
600.5322 624.553488
624.553488
costos variables
Costos fijos
116.2036
8
116.20368
20.14
20.14
116.20368 116.20368
20.14
20.14
gatos de produccioon
736.8758
8
760.897168
760.897168
Utilidad bruta
Gastos administrativos
Gastos de ventas
62.32412 51.622832
7.992
8.1252
3.996
4.0626
58.282832 83.613476
8.1918
8.325
4.0959
4.1625
70.293476
8.1918
4.0959
39.612188
8.1252
4.0626
82.30412
8.1918
4.0959
Utilidad de operacin
50.33612 39.435032
45.995132 71.125976
58.005776
27.424388
70.01642
gastos financieros
depreciacion
5.769230
1.2822062
77
4.160502959 2.666989076
9
13.6
13.6
13.6
13.6
13.6
13.6
13.6
Renta neta
30.96688
56.243769
92
21.67452904 29.72814292
7
44.405776
13.824388
56.41642
impuesto a la renta
9.290066
16.873130
77
6.502358712 8.918442877
9
13.3217328
utilidad neta
21.67682
39.370638
25
15.17217033 20.80970005
8
31.0840432
reserva legal
2.167682
3.9370638
25
1.517217033 2.080970005
8
3.10840432
utilidad retenida
0.216768
22
0.151721703
dividendos
19.29237
35.039868
8.61259372 35.1474296 28.3560518 20.1821672 31.7517407
2
13.50323159 18.52063304
5
27.66479845
4
6
4
4
5
Perdida
0.208097
116.20368
20.14
748.88652
4
748.886524
13.6
13.6
13.6
0.3937063
0.09677071
0.31860732 0.22676592 0.35676113
9
0.310840432
6
0.39491494
4
4
2
10
Inversion
capital fijo
76
14.4230769
13.33494
2
13.8683432
54
12.82206287
Amortizacion de la deuda
Capital de trabajo
130.737662
0.273698
3.16313709 4.88155495 3.98423298
134.995
7
3.984232986
63
-1.171020603 0.54739726
6
9
6
0.54739726 59
total inversion
145.160739
13.60864
3.16313709 4.88155495 3.98423298
134.995
6
17.85257618
4
11.65104226 0.54739726
6
9
6
0.54739726 59
76
21.6768224
6
15.17217033 20.8097
utilidad neta
depreciacion
13.6
13.6
13.6
13.6
13.6
13.6
13.6
13.6
35.6761
132
13.6
-76
109.883917
20.80105
45.2314404
57.9730489 41.4764994 36.8239896 184.271
2
10.91959415
6
41.31959654
6
20.1139345
6
1
6
708
Aportes
76
109.883917
2
Dividendos
19.29237199
7.297824
10.1915719 7.55086394 49.3604552 6.32906975 8.46793782 164.089
8.372777843
44
22.7989635
3
4
3
4
4
54
1.074953
31.9155820 24.3647180 73.7251733 80.0542430 88.5221808 252.611
4
21.7240101
2
8
2
7
9
721
Saldo anual
Caja acumulada
13.50323
35.0398685 27.6647984 8.61259372 35.1474296 28.3560518 20.1821
16
18.52063304
3
5
4
6
4
672
10
Activo
Caja Banco
Inventario de materia
prima
Inv. De productos en
proceso
Inv. De productos
terminados
19.87774368 20.60898533
56.07883409 57.9069382
32.84383562 33.39123288
136
Total activo
Pasivo corto plazo:
136
dividendos
Pasivo a largo plazo
Deuda
Patrimonio:
capital social (suma de los
aportes)
15
45
76
Perdida acumulada
Total Pasivo
122.4
136
55.93998575
20.24336451
56.99288615
34.21232877
95.2
81.6
263.3427
286.0435367 277.7440046
5
270.7125753
15
15
30
15
34.22210
33.5639914 34.8802264 32.9058739 34.2221089 34.2221089
89
33.56399145
5
1
7
3
3
15
0
0
0
0
0
0
0
18.52063
27.6647984 8.61259372 35.1474296 28.3560518 20.1821672 31.7517
19.29237199 13.50323159
3
35.03986853
5
4
6
4
4
407
185.8839
185.883917 185.883917 185.883917 185.883917 185.883917 185.883
17
185.8839172
2
2
2
2
2
917
5.765869
12.8113374 13.7790446 17.7281940 20.9142672 23.1819265 26.7495
2.167682246 3.684899279
28
9.702933164
8
4
4
8
2
378
0.576586
1.28113374 1.37790446 1.77281940 2.09142672 2.31819265 2.67495
0.216768225 0.368489928
93
0.970293316
8
4
4
8
2
378
185.8839172 185.8839172
21.7240101
108.8
32.90587397 34.22210893
54.84312329 57.03684822
Amortizacion de la deuda
1.074953
4
57.03684
82
20.60898
53
57.90693
82
33.66493
15
5.427841952
0
0
0
0
0
0
0
0
3.373634
5.55157163 5.55157163 5.55157163 5.55157163 5.55157163 5.55157
0.576923077 1.708579882
5
5.551571636
6
6
6
6
6
164
263.3427
266.756749
278.989805 277.019343 271.339884 252.611
286.0435367 274.7990687
5
270.7125753
9
250.085258
9
6
2
721
RESUMEN
0
Inversion economica
Inversion financiera
10
-136
-76
-136
ingresos financiero
Egresos financiero
ingresos economico
Egresos economico
812.52
819.18
832.5
819.18
812.52
819.18
832.5
819.18
825.84
812.52
819.18
832.5
819.18
812.52
819.18
832.5
819.18
825.84
-76
136
76
ndices de Rentabilidad
VPN, TIR, B/C, IVP, Tiempo de
recupero
ndices de rentabilidad
El anlisis de rentabilidad del proyecto, e hizo
determinando los ndices VPN, TIR, B/C e IVP
Donde:
TD=15%
Perodo de duracin del proyecto:10 aos
ndices de rentabilidad
Tabla N1 ndices de rentabilidad del proyecto
VPN ($)
TIR (%)
B/C
IVP15%,0
E. Econmica -16.86
13.40
0.996
-0.077
E. Financiera
14.62
0.999
-0.017
-3.44
ndices de rentabilidad
10
E. E.
-136
-216
-195
-171
-140
-117
-109
-87
-73
-63
-17
E. F.
-76
-172. -164
-150
-126
-104
-95
-63
-60
-49
-4
ndices de rentabilidad
Tiempo de recupero
Evaluacin Econmica
0
0
-50
VPNA
-100
-150
-200
-250
Ao J
10
12
ndices de rentabilidad
Tiempo de recupero
Evaluacin Financiera
0
0
-20
-40
-60
VPNA
-80
-100
-120
-140
-160
-180
-200
Ao J
10
12