IPC 3.

50%

Activo
Pasivo 1,000,000 ###
Patrimonio 1,500,000 ###

Ao 0 Ao 1 Ao 2

Crecimiento 4%
Unidades 1,500 1,560

Crecimiento 3%
Precio 2600 2,678
Costo 520 536

Crecimiento 25% 25%

Acumulado 2,500,000 2,500,000 2,500,000
Activos nuevos 625,000 625,000
Depreciacion 625,000 625,000

45 Cartera Und 188 195

Cartera $ 487,500 522,210
30 Inventario Und 130 137
Inventario $ 338,000 365,547
60 CxP

Inicial - 130
Compra 1,630 1,697
Venta 1,500 1,560
Final 130 137

Estado de resultados

Ventas 3,900,000 4,177,680

20% Costo Compra 780,000 903,136
25% Costo Variable 975,000 1,044,420
Depreciacion 625,000 625,000
Resultado 1,520,000 1,605,124
 12% Intereses 120,000 120,000
10% Gasto admon 390,000 417,768
Resultado 1,010,000 1,067,356

30% Impuestos 303,000 320,207

Resultado 707,000 747,149

EBITDA 1,130,000 1,187,356

Flujo de caja

Flujo de caja Operacional

Ventas 3,900,000 4,665,180
Cartera 487,500 522,210
Total 3,412,500 4,142,970

Costo de Compra 780,000 970,736

Inventarios 67,600 73,109
Costo de compra total 712,400 897,627

Costo Variable 707,000 747,149

Gastos admon 625,000 625,000
60 CxP 340,733 378,296
Total Costos 1,703,667 2,232,213

Resultado 1,708,833 1,910,757

Flujo de caja Financiacion

Intereses - 120,000 - 120,000

Flujo de caja Inversion

Activos - 2,500,000 - 625,000 - 625,000

Total - 2,500,000 963,833 1,165,757

Capital de trabajo
Inventario 67,600 73,109
Cartera 487,500 522,210
CxP 340,733 378,296
 Total 214,367 217,023

Productividad KTNO
KTNO 214,367 217,023
Ventas 3,900,000 4,665,180
KTNO/Ventas 0.05 0.05
Ventas/KTNO 18 21

EBITDA Var 57,356

KTNO Var 2,657
Palanca Crecimiento 22

12% Pasivo 1,000,000 1,000,000

25% Patrimonio 1,500,000 1,500,000
 3.50% 3.50% 3.50%

1,000,000 ### 1,000,000

1,500,000 ### 1,500,000

Ao 3 Ao 4 Ao 5

5% 5% 5% 5%
1,638 1,720 1,806 1,896

3% 3% 3%
2,758 2,841 2,926
552 568 585

25% 25% 25%

2,500,000 2,500,000 2,500,000
625,000 625,000 625,000
625,000 625,000 625,000

205 215 226 Inventarios

564,770 610,799 660,579 Crecen
143 150 158 Decrecen
395,339 427,559 462,405

137 143 150

1,781 1,870 1,964
1,638 1,720 1,806
143 150 158

4,518,161 4,886,391 5,284,632

976,742 1,056,346 1,142,438
1,129,540 1,221,598 1,321,158
625,000 625,000 625,000
1,786,879 1,983,447 2,196,036
 120,000 120,000 120,000
451,816 488,639 528,463
1,215,063 1,374,808 1,547,573

364,519 412,442 464,272

850,544 962,366 1,083,301

1,335,063 1,494,808 1,667,573

5,040,371 5,451,161 5,895,431

564,770 610,799 660,579
4,475,601 4,840,362 5,234,852

1,049,851 1,135,414 1,227,950

79,068 85,512 92,481
970,783 1,049,902 1,135,469

850,544 962,366 1,083,301

625,000 625,000 625,000
407,721 439,545 473,962
2,416,902 2,605,444 2,809,353

2,058,699 2,234,918 2,425,499

- 120,000 - 120,000 - 120,000

- 625,000 - 625,000 - 625,000

1,313,699 1,489,918 1,680,499

79,068 85,512 92,481

564,770 610,799 660,579
407,721 439,545 473,962
 236,117 256,766 279,098

236,117 256,766 279,098

5,040,371 5,451,161 5,895,431
0.05 0.05 0.05
21 21 21

147,707 159,745 172,764

19,093 20,649 22,332
8 8 8

1,000,000 1,000,000 1,000,000

1,500,000 1,500,000 1,500,000
Variacion CxP
15 10
15 -20
 IPC 3.50%

Activo
Pasivo 1,000,000 ###
Patrimonio 1,500,000 ###

Ao 0 Ao 1 Ao 2

Crecimiento 4%
Unidades 1,500 1,560

Crecimiento 3%
Precio 2600 2,678
Costo 520 536

Crecimiento 25% 25%

Acumulado 2,500,000 2,500,000 2,500,000
Activos nuevos 625,000 625,000
Depreciacion 625,000 625,000

Unidades
45 Cartera Und 188 195
Cartera $ 487,500 522,210
30 Inventario Und 130 137
Inventario $ 338,000 365,547
60 CxP

Inicial - 130
Compra 1,630 1,697
Venta 1,500 1,560
Final 130 137

Estado de resultados

Ingresos 3,412,500 3,655,470

20% Costos F 847,600 908,645
25% Costo V 975,000 913,868
Depreciacion 625,000 625,000
Resultado 964,900 1,207,957
 12% Intereses 120,000 120,000
10% Gasto admon 341,250 365,547
Resultado 503,650 722,410

30% Impuestos 151,095 216,723

Resultado 352,555 505,687

Flujo de caja

Flujo de caja Operacional

Ingresos 2,925,000 3,620,760
Costos 2,160,600 2,188,060

Resultado 352,555 505,687

Depreciacion 625,000 625,000
Interes
Resultado 977,555 1,130,687
 3.50% 3.50% 3.50%

1,000,000 ### 1,000,000

1,500,000 ### 1,500,000

Ao 3 Ao 4 Ao 5

5% 5% 5%
1,638 1,720 1,806

3% 3% 3%
2,758 2,841 2,926
552 568 585

25% 25% 25%

2,500,000 2,500,000 2,500,000
625,000 625,000 625,000
625,000 625,000 625,000

205 215 226 Inventarios

564,770 610,799 660,579 Crecen
143 150 - Decrecen
395,339 427,559 -

137 143 150

1,781 1,870 1,806
1,638 1,720 1,806
143 150 -

3,953,391 4,275,592 4,624,053

982,700 1,062,790 1,056,926
988,348 1,068,898 1,156,013
625,000 625,000 625,000
1,357,343 1,518,904 1,786,113
 120,000 120,000 120,000
395,339 427,559 462,405
842,004 971,345 1,203,708

252,601 291,403 361,112

589,403 679,941 842,596

3,910,831 4,229,563 4,574,273

2,366,387 2,559,247 2,212,940

589,403 679,941 842,596

625,000 625,000 625,000

1,214,403 1,304,941 1,467,596

Variacion CxP
15 10
15 -20