Analisis Financiero de La Em. Audifarma

Formulario
BALANCE GENERAL
Cuenta 2004 2005 2006

1105 CAJA $27.272 $13.104 $28.720
1110 BANCOS $650.461 $3,537.569 $985.150
1120 CUENTAS DE AHORRO $193.474 $116.985 $301.934
11 SUBTOTAL DISPONIBLE $871.207 $3,667.658 $1,315.804
12 INVERSIONES (ANEXO 7) $2.419 $7.150 $472.021
1305 CLIENTES (ANEXO 8) $16,595.134 $23,805.987 $41,558.982
1320 CUENTAS POR COBRAR A
VINCULADOS ECONÓMICOS (CP)
SOCIOS Y ACCIONISTAS (CP)
1330 ANTICIPOS Y AVANCES (CP) $417.760 $130.816 $334.317

1335 DEPÓSITOS (CP) $36.189 $38.853 $38.853
1345 INGRESOS POR COBRAR (CP)
1355 ANTICIPO DE IMPTOS. Y

$2,276.341 $4,909.544 $6,366.454
CONTRIB.O SALDOS A FAVOR (CP)
1360 RECLAMACIONES (CP)

$24.675 $15.801 $72.003
TRABAJADORES (CP)
1370 PRESTAMOS A PARTICULARES
$754.023 $2,151.376 $781.724
(CP)
1380 DEUDORES VARIOS (CP) $35.460 $38.417 $109.542
1399 PROVISIONES (CP) $49.104 $21.376 $512.403
13 SUBTOTAL DEUDORES (CP) $20,090.478 $31,069.418 $48,749.472
1435 M/CÍAS NO FABRICADAS POR
$12,068.516 $18,345.128 $24,440.256
LA EMP.(ANEXO 2)
1499 PROVISIONES (CP) $703.685 $599.384 $1,491.267
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14 SUBTOTAL INVENTARIOS (CP) $11,364.831 $17,745.744 $22,948.989
1705 GASTOS PAGADOS POR
$10.628 $87.023 $62.459
ANTICIPADO (CP)
1710 CARGOS DIFERIDOS (CP) $56.217 $328.618 $431.162
17 SUBTOTAL DIFERIDO (CP) $66.845 $415.641 $493.621
TOTAL ACTIVO CORRIENTE $32,395.780 $52,905.611 $73,979.907
12 INVERSIONES (ANEXO 7) $7,739.137 $8,139.564 $8,511.506
SOCIOS Y ACCIONISTAS
1330 ANTICIPOS Y AVANCES
TRABAJADORES
1370 PRESTAMOS A PARTICULARES
1380 DEUDORES VARIOS
13 SUBTOTAL DEUDORES A LARGO
PLAZO
15 PROPIEDADES PLANTA Y
$1,970.750 $2,557.055 $3,416.369
EQUIPO(ANEXO 9)
1625 DERECHOS
1698 AMORTIZACIÓN ACUMULADA
1699 PROVISIONES
16 SUBTOTAL INTANGIBLES
1710 CARGOS DIFERIDOS
17 SUBTOTAL DIFERIDOS
1805 BIENES DE ARTE Y CULTURA
18 SUBTOTAL OTROS ACTIVOS
1905 DE INVERSIONES ($4,218.156) ($3,809.783) ($3,405.274)
1910 DE PROPIEDADES PLANTA Y $165.600 $183.178 $183.178
EQUIPO (ANEXO 9)
19 SUBTOTAL VALORIZACIONES ($4,052.556) ($3,626.605) ($3,222.096)
TOTAL ACTIVO NO CORRIENTE $5,657.331 $7,070.014 $8,705.779
TOTAL ACTIVO $38,053.111 $59,975.625 $82,685.686
21 OBLIGACIONES FINANCIERAS
$11,505.323 $15,257.248 $25,466.781
(ANEXO10) (CP)
22 PROVEEDORES (ANEXO 10) (CP) $13,516.638 $19,679.377 $23,221.884
2305 CUENTAS CORRIENTES $2,370.703 $1,870.194 $312.503
COMERCIALES (CP) VINCULADAS
2315 A COMPAÑÍAS
(CP)
2335 COSTOS Y GASTOS POR PAGAR $3,560.524 $3,589.821 $2,565.591
(CP)
2345 ACREEDORES OFICIALES (CP)
2355 DEUDAS CON ACCIONISTAS O
$191.352 $48.035 $48.035
SOCIOS (CP)
2360 DIVIDENDOS O
$1,638.977 $3,548.518 $3,018.173
PARTICIPACIONES POR PAGAR (CP)
2365 RETENCIÓN EN LA FUENTE (CP) $141.939 $640.788 $798.519
2367 IMPUESTO A LAS VENTAS
$24.600 $31.841 $34.328
RETENIDO (CP) DE INDUSTRIA Y
2368 IMPUESTO
$1.126 $1.969 $2.887
COMERCIO RETENIDO
2370 RETENCIONES (CP)
Y APORTES DE
$5.405 $7.179 $3.940
NÓMINA (CP)
2380 ACREEDORES (CP) $6.421 $7.028 $7.318
23 SUBTOTAL CUENTAS POR PAGAR
$7,941.047 $9,745.373 $6,791.294
(CP)
24 IMPUESTOS GRAVÁMENES Y $1,420.597 $3,924.910 $5,217.174
TASAS (CP)
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25 OBLIGACIONES LABORALES (CP) $23.039 $71.738 $104.845
2605 PARA COSTOS Y GASTOS (CP)
2615 PARA OBLIGACIONES FISCALES
(CP)
2635 PARA CONTINGENCIAS (CP) $2,100.000
2695 PROVISIONES DIVERSAS (CP) $102.699 $0.610
26 SUBTOTAL PASIVOS ESTIMAD. Y
$102.699 $2,100.610
PROVIS. (CP)
2805 ANTICIPOS Y AVANCES
RECIBIDOS (CP)
2815 INGRESOS RECIBIDOS PARA
TERCEROS (CP)
2895 DIVERSOS (CP)
28 SUBTOTAL OTROS PASIVOS (CP)
TOTAL PASIVO CORRIENTE $34,406.644 $48,781.345 $62,902.588
21 OBLIGACIONES FINANCIERAS
(ANEXO10)
2305 CUENTAS CORRIENTES
$1,041.012 $2,041.012 $4,041.012
COMERCIALES
23 SUBTOTAL CUENTAS POR PAGAR $1,041.012 $2,041.012 $4,041.012
2605 PARA COSTOS Y GASTOS
2615 PARA OBLIGACIONES FISCALES
2695 PROVISIONES DIVERSAS
26 SUBTOTAL PASIVOS ESTIMAD. Y
PROVIS.
TOTAL PASIVO NO CORRIENTE $1,041.012 $2,041.012 $4,041.012
TOTAL PASIVO $35,447.656 $50,822.357 $66,943.600
3105 CAPITAL SUSCRITO Y PAGADO
$1,781.000 $2,481.000 $2,481.000
(ANEXO 12)
31 SUBTOTAL CAPITAL SOCIAL $1,781.000 $2,481.000 $2,481.000
33 RESERVAS (ANEXO 11) $450.000 $1,051.500 $2,767.214
34 REVALORIZACIÓN DEL $201.618 $390.605 $963.489
PATRIMONIO
36 RESULTADOS DEL EJERCICIO $4,225.393 $8,856.768 $6,022.289
3705 UTILIDADES ACUMULADAS
37 RESULTADOS DE EJERCICIOS
$6,730.190
ANTERIORES
38 SUPERÁVIT POR VALORIZACIONES ($4,052.556) ($3,626.605) ($3,222.096)
TOTAL PATRIMONIO $2,605.455 $9,153.268 $15,742.086
TOTAL PASIVO Y PATRIMONIO $38,053.111 $59,975.625 $82,685.686
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2007 2008 2009 2010
$32.836 $88.849 $259.894 $173.400
$1,255.138 $902.783 $275.083 $1,710.499
$391.584 $189.977 $32.746 $67.402
$1,679.558 $1,181.609 $567.723 $1,951.301
$4,932.629 $3,699.901 $195.439 $19,391.958
$47,493.485 $45,750.324 $134,724.024 $162,710.728
$4.944 $94.174
$7,161.140
$359.026 $499.495 $816.865 $358.136

$34.677 $924.104 $24.854 $24.054
$928.385 $1,989.060
$9,168.897 $13,271.912 $20,977.917 $44,414.258
$99.021 $55.835 $52.920 $0.334
$232.579 $186.746 $144.333
$474.370 $4,691.019 $30,550.003

$163.838 $1,054.693 $124.417
$1,970.287 $3,864.668 $6,674.132 $20,856.657
$56,055.606 $62,569.460 $188,835.670 $188,734.087
$29,880.068 $48,883.567 $80,408.798 $71,388.773
$1,700.000 $2,987.818 $3,136.603 $8,136.485
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$28,180.068 $45,895.749 $77,272.195 $63,252.288
$188.517 $259.405 $321.144 $212.640
$510.518 $466.161 $2,431.066
$699.035 $725.566 $2,752.210 $212.640
$91,546.896 $114,072.285 $269,623.237 $273,542.274
$8,568.616 $23,688.011 $18,464.658 $12,917.266
$10,485.388
$1,281.563
$110.331
$43,888.231
$3,777.358
$59,542.871
$6,217.641 $6,889.175 $7,165.737 $2,781.805
$866.440
$866.440
$0.350
$0.350
($1,402.937) $1,618.438 $4,515.714 $11,304.228
$183.178 $2,600.125 $2,600.125 $2,600.125
($1,219.759) $4,218.563 $7,115.839 $13,904.353
$13,566.498 $34,795.749 $32,746.234 $90,013.085
$105,113.394 $148,868.034 $302,369.471 $363,555.359
$18,539.931 $28,569.560 $53,257.660 $66,329.736
$30,262.237 $37,462.685 $84,518.185 $90,670.760
$275.009 $1,128.572 $4,091.742 $3,763.737
$2,588.514 $5,514.229 $20,179.274 $10,141.578
$55.340 $52.194
$1,207.484 $679.022 $6,610.388
$1,183.904 $1,672.510 $2,651.787 $363.602
$56.723 $82.493 $177.784 $114.275
$2.602 $2.048 $20.424 $26.627
$10.528 $12.036 $43.534 $79.933
$8.701 $11.467 $31.665 $38.648
$5,388.805 $9,154.571 $33,806.598 $14,528.400
$6,840.403 $9,370.416 $416.712
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$100.297 $140.086 $181.736 $467.459
$20,818.280 $19,639.154
$3,100.000
$150.535 $13,369.488 $11,448.667
$3,250.535 $13,369.488 $32,266.947 $19,639.154
$64,382.208 $98,066.806 $204,031.126 $192,052.221

$7,706.427 $6,939.796 $56,680.962 $77,058.111
$4,041.012
$4,041.012
$4.498
$22,818.280
$14,282.669
$37,105.447
$11,747.439 $6,939.796 $56,680.962 $114,163.558
$76,129.647 $105,006.602 $260,712.088 $306,215.779
$2,481.000 $2,481.000 $2,481.000 $2,481.000
$2,481.000 $2,481.000 $2,481.000 $2,481.000
$3,530.165 $3,530.165 $3,530.165 $3,530.165
$767.026 $466.696 $270.231
$11,445.099 $9,739.691 $10,095.140 $9,163.915
$11,980.216 $23,425.316 $18,165.007 $28,260.147
$11,980.216 $23,425.316 $18,165.007 $28,260.147
($1,219.759) $4,218.564 $7,115.840 $13,904.353
$28,983.747 $43,861.432 $41,657.383 $57,339.580
$105,113.394 $148,868.034 $302,369.471 $363,555.359
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2011 2012 2013 2014
$239.875 $338.871 $271.634 $258.700
$1,815.360 $1,910.168 $438.752 $4,701.030
$94.087 $39.012 $0.430 $1.663
$2,149.322 $2,288.051 $710.816 $4,961.393
$32,272.906 $40,570.354 $263.908
$255,863.257 $275,539.503 $278,809.621 $243,554.592
$94.174 $94.174 $44.174 $44.174
$10,159.453 $10,159.453 $10,159.453
$20,167.270 $422.784 $5,534.303 $1,662.634

$24.804 $25.804 $27.554 $9.730
$1,522.513 $1,518.037 $2,676.526 $14,588.400
$43,629.408 $6,020.794 $15,341.128 $19,047.449
$44.516 $35.318 $185.137
$77.655 $57.612 $87.946 $27.648
$23,900.423 $15,940.092 $7,564.451 $886.535

$4,453.331 $2,300.659 $3,217.228 $342.193
$50,752.566 $41,626.712 $48,242.150 $32,459.499
$309,139.722 $270,496.716 $275,255.552 $247,888.993
$108,505.895 $181,723.055 $146,218.380 $130,738.083
$9,136.485 $12,136.485 $11,118.022 $6,047.104
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$99,369.410 $169,586.570 $135,100.358 $124,690.979
$382.507 $731.981 $1,212.413 $818.179
$1,940.886
$2,323.393 $731.981 $1,212.413 $818.179
$445,254.753 $443,103.318 $452,849.493 $378,623.452
$12,034.524 $55,938.821 $20,583.955 $165,350.988
$2,634.086 $3,530.038 $5,029.881 $8,948.304

$891.267 $916.115
$3.402
$891.267 $912.713
$1,872.595 $1,067.140 $753.122
$1,872.595 $1,067.140 $753.122
$0.350 $0.350 $0.350 $0.350
$0.350 $0.350 $0.350 $0.350
$12,863.561 $18,198.729 $20,768.204 $62,130.858
$2,600.125 $6,917.058 $3,397.592 $3,397.592
$15,463.686 $25,115.787 $24,165.796 $65,528.450
$30,132.646 $86,457.591 $51,738.389 $241,493.927
$475,387.399 $529,560.909 $504,587.882 $620,117.379
$151,994.102 $66,058.570 $22,603.439 $10,305.797
$137,959.694 $200,274.316 $193,495.723 $195,435.626
$4,195.867 $9,383.573 $8,760.544 $4,163.408
$945.000 $945.000 $0.025 $1,318.785
$20,366.188 $21,199.576 $20,913.804 $12,331.031
$7,887.810
$8,998.326 $31,331.169 $53,666.416

$4,977.886 $4,171.412 $1,989.539 $3,944.683
$160.292 $415.477 $170.317 $93.221
$7.983 $17.131 $6.777 $86.661
$138.096 $140.807 $517.354 $449.334
$47.391 $46.749 $460.904 $569.597
$30,838.703 $45,318.051 $64,150.433 $84,510.946
$441.207 $212.406 $440.480
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$546.674 $594.719 $2,654.975 $5,692.024
$51.760 $41.025 $32.808 $9.461
$27,197.704 $3,614.718 $6,178.916 $440.405
$15,289.044 $29,534.665 $19,509.479 $4,421.375

$42,538.508 $33,190.408 $25,721.203 $4,871.241
$40,510.809 $2.875
$7,076.560 $16,934.107 $7,486.400 $7,903.965
$288.870
$47,587.369 $16,934.107 $7,489.275 $8,192.835
$411,906.257 $362,582.577 $316,555.528 $309,008.469
$87,049.470 $104,578.679 $141,870.184
$41,497.782
$41,497.782
$87,049.470 $104,578.679 $183,367.966

$411,906.257 $449,632.047 $421,134.207 $492,376.435
$2,481.000 $4,000.000 $4,000.000 $6,000.000
$2,481.000 $4,000.000 $4,000.000 $6,000.000
$3,530.165 $4,289.665 $4,289.665 $5,289.665
$4,582.228 $5,252.691 $4,461.141 $2,924.614

$37,424.063 $41,270.718 $46,537.073 $47,998.215
$37,424.063 $41,270.718 $46,537.073 $47,998.215
$15,463.686 $25,115.788 $24,165.796 $65,528.450
$63,481.142 $79,928.862 $83,453.675 $127,740.944
$475,387.399 $529,560.909 $504,587.882 $620,117.379
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ANALISIS HORIZONTAL-
2015 2004-2005 2005-2006 2006-2007
$312.085 ($14.168) $15.616 $4.116
$2,392.134 $2,887.108 ($2,552.419) $269.988
$1.698 ($76.489) $184.949 $89.650
$2,705.917 $2,796.451 ($2,351.854) $363.754
$4.731 $464.871 $4,460.608
$290,628.343 $7,210.853 $17,752.995 $5,934.503
$44.174 $0.000 $0.000 $0.000
$0.000 $0.000 $0.000

$15,411.612 ($286.944) $203.501 $24.709
$2.664 $0.000 ($4.176)
$13.280 $0.000 $0.000 $0.000
$11,116.201
$0.000 $0.000 $0.000
$35,398.549
$2,633.203 $1,456.910 $2,802.443
$225.940
$0.000 $0.000 $99.021
$17.493
($8.874) $56.202 $160.576
$2,103.996 $1,397.353 ($1,369.652) ($307.354)
$1,025.082 $2.957 $71.125 $54.296
$18,648.754 ($27.728) $491.027 $1,457.884
$337,335.916 $10,978.940 $17,680.054 $7,306.134
$188,797.106 $6,276.612 $6,095.128 $5,439.812
$1,046.094 ($104.301) $891.883 $208.733
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$187,751.012 $6,380.913 $5,203.245 $5,231.079
$588.239 $76.395 ($24.564) $126.058
$272.401 $102.544 $79.356
$588.239 $348.796 $77.980 $205.414
$528,381.084 $20,509.831 $21,074.296 $17,566.989
$203,676.583 $400.427 $371.942 $57.110
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$19,661.723 $586.305 $859.314 $2,801.272
$916.115 $0.000 $0.000 $0.000
$3.402 $0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$912.713 $0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.350 $0.000 $0.000 $0.000
$0.350 $0.000 $0.000 $0.000
$62,130.859 $408.373 $404.509 $2,002.337
$3,397.592 $17.578 $0.000 $0.000
$65,528.451 $425.951 $404.509 $2,002.337
$289,779.820 $1,412.683 $1,635.765 $4,860.719
$818,160.904 $21,922.514 $22,710.061 $22,427.708
$75,553.762 $3,751.925 $10,209.533 ($6,926.850)
$322,858.407 $6,162.739 $3,542.507 $7,040.353
$4,163.408 ($500.509) ($1,557.691) ($37.494)
$311.561 $0.000 $0.000 $0.000
$15,853.682 $29.297 ($1,024.230) $22.923
$277.455 $0.000 $0.000 $0.000
($143.317) $0.000 $7.305
$55,165.082 $1,909.541 ($530.345) ($1,810.689)
$4,461.919 $498.849 $157.731 $385.385
$212.168 $7.241 $2.487 $22.395
$176.948 $0.843 $0.918 ($0.285)
$763.991 $1.774 ($3.239) $6.588
$592.343 $0.607 $0.290 $1.383
$81,978.557 $1,804.326 ($2,954.079) ($1,402.489)
$2,973.613 $2,504.313 $1,292.264 $1,623.229
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$6,351.554 $48.699 $33.107 ($4.548)
$15.467 $0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $2,100.000 $1,000.000
$1,231.995 $102.699 ($102.089) $149.925
$1,247.462 $102.699 $1,997.911 $1,149.925
$16,390.260 $0.000 $0.000 $0.000
$7,662.480 $0.000 $0.000 $0.000
$4,698.079 $0.000 $0.000 $0.000
$28,750.819 $0.000 $0.000 $0.000
$519,714.174 $14,374.701 $14,121.243 $1,479.620
$168,195.200 $0.000 $0.000 $7,706.427
$1,000.000 $2,000.000 $0.000
$1,000.000 $2,000.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$168,195.200 $1,000.000 $2,000.000 $7,706.427
$687,909.374 $15,374.701 $16,121.243 $9,186.047
$6,000.000 $700.000 $0.000 $0.000
$6,000.000 $700.000 $0.000 $0.000
$5,289.665 $601.500 $1,715.714 $762.951
$188.987 $572.884 ($196.463)
$2,510.587 $4,631.375 ($2,834.479) $5,422.810
$50,922.828 $0.000 $0.000 $11,980.216
$50,922.828 $0.000 $6,730.190 $5,250.026
$65,528.450 $425.951 $404.509 $2,002.337
$130,251.530 $6,547.813 $6,588.818 $13,241.661
$818,160.904 $21,922.514
$0.000 $22,710.061
$0.000 $22,427.708
$0.000
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NALISIS HORIZONTAL- VARIACION ABSOLUTA
2007-2008 2 008-2009 2009-2010 2010-2011 2011-2012
$56.013 $171.045 ($86.494) $66.475 $98.996
($352.355) ($627.700) $1,435.416 $104.861 $94.808
($201.607) ($157.231) $34.656 $26.685 ($55.075)
($497.949) ($613.886) $1,383.578 $198.021 $138.729
($1,232.728) ($3,504.462) $19,196.519 $12,880.948 ($32,272.906)
($1,743.161) $88,973.700 $27,986.704 $93,152.529 $19,676.246
$0.000 $4.944 $89.230 $0.000 $0.000
$0.000 $7,161.140 ($7,161.140) $10,159.453 $0.000
$140.469
$889.427 $317.370
($899.250) ($458.729)
($0.800) $19,809.134
$0.750 ($19,744.486)
$1.000
$0.000 $0.000 $0.000 $0.000 $0.000
$0.000 $928.385 $1,060.675 ($466.547) ($4.476)
$4,103.015 $7,706.005 $23,436.341 ($784.850) ($37,608.614)
($43.186) ($2.915) ($52.586) ($0.334) $44.516
($45.833) ($42.413) ($144.333) $77.655 ($20.043)

$4,216.649 $25,858.984 ($30,550.003) $23,900.423 ($7,960.331)
$890.855 ($930.276) ($124.417) $4,453.331 ($2,152.672)
$1,894.381 $2,809.464 $14,182.525 $29,895.909 ($9,125.854)
$6,513.854 $126,266.210 ($101.583) $120,405.635 ($38,643.006)
$19,003.499 $31,525.231 ($9,020.025) $37,117.122 $73,217.160
$1,287.818 $148.785 $4,999.882 $1,000.000 $3,000.000
Generado: 1/21/2020 12:50:35 PM

Pág 13 de 113
$17,715.681 $31,376.446 ($14,019.907) $36,117.122 $70,217.160
$70.888 $61.739 ($108.504) $169.867 $349.474
($44.357) $1,964.905 ($2,431.066) $1,940.886 ($1,940.886)
$26.531 $2,026.644 ($2,539.570) $2,110.753 ($1,591.412)
$22,525.389 $155,550.952 $3,919.037 $171,712.479 ($2,151.435)
$15,119.395 ($5,223.353) ($5,547.392) ($882.742) $43,904.297
$0.000 $0.000 $10,485.388 ($10,485.388) $0.000
$0.000 $0.000 $1,281.563 ($1,281.563) $0.000
$0.000 $0.000 $110.331 ($110.331) $0.000
$0.000 $0.000 $43,888.231 ($43,888.231) $0.000
$0.000 $0.000 $3,777.358 ($3,777.358) $0.000
$0.000 $0.000 $59,542.871 ($59,542.871) $0.000
$671.534 $276.562 ($4,383.932) ($147.719) $895.952
$0.000 $0.000 $0.000 $0.000 $0.000
$0.000 $0.000 $0.000 $0.000 $0.000
$0.000 $0.000 $0.000 $0.000 $0.000
$0.000 $0.000 $0.000 $0.000 $0.000
$0.000 $0.000 $866.440 ($866.440) $1,872.595
$0.000 $0.000 $866.440 ($866.440) $1,872.595
$0.000 $0.000 $0.350 $0.000 $0.000
$0.000 $0.000 $0.350 $0.000 $0.000
$3,021.375 $2,897.276 $6,788.514 $1,559.333 $5,335.168
$2,416.947 $0.000 $0.000 $0.000 $4,316.933
$5,438.322 $2,897.276 $6,788.514 $1,559.333 $9,652.101
$21,229.251 ($2,049.515) $57,266.851 ($59,880.439) $56,324.945
$43,754.640 $153,501.437 $61,185.888 $111,832.040 $54,173.510
$10,029.629 $24,688.100 $13,072.076 $85,664.366 ($85,935.532)
$7,200.448 $47,055.500 $6,152.575 $47,288.934 $62,314.622
$853.563 $2,963.170 ($328.005) $432.130 $5,187.706
$0.000 $0.000 $0.000 $945.000 $0.000
$2,925.715 $14,665.045 ($10,037.696) $10,224.610 $833.388
$0.000 $0.000 $0.000 $0.000 $0.000
($3.146) ($52.194) $0.000 $0.000 $0.000
($528.462) $5,931.366 ($6,610.388) $0.000 $8,998.326
$488.606 $979.277 ($2,288.185) $4,614.284 ($806.474)
$25.770 $95.291 ($63.509) $46.017 $255.185
($0.554) $18.376 $6.203 ($18.644) $9.148
$1.508 $31.498 $36.399 $58.163 $2.711
$2.766 $20.198 $6.983 $8.743 ($0.642)
$3,765.766 $24,652.027 ($19,278.198) $16,310.303 $14,479.348
$2,530.013 ($9,370.416) $416.712 $24.495 ($228.801)
Generado: 1/21/2020 12:50:35 PM

Pág 14 de 113
$39.789 $41.650 $285.723 $79.215 $48.045
$0.000 $0.000 $0.000 $51.760 ($10.735)
$0.000 $20,818.280 ($1,179.126) $7,558.550 ($23,582.986)
($3,100.000) $0.000 $0.000 $0.000 $0.000
$13,218.953 ($1,920.821) ($11,448.667) $15,289.044 $14,245.621
$10,118.953 $18,897.459 ($12,627.793) $22,899.354 ($9,348.100)
$0.000 $0.000 $0.000 $40,510.809 ($40,510.809)
$0.000 $0.000 $0.000 $7,076.560 $9,857.547
$0.000 $0.000 $0.000 $0.000 $0.000
$0.000 $0.000 $0.000 $47,587.369 ($30,653.262)
$33,684.598 $105,964.320 ($11,978.905) $219,854.036 ($49,323.680)
($766.631) $49,741.166 $20,377.149 ($77,058.111) $87,049.470
($4,041.012) $0.000 $0.000 $0.000 $0.000
($4,041.012) $0.000 $0.000 $0.000 $0.000
$0.000 $0.000 $4.498 ($4.498) $0.000
$0.000 $0.000 $22,818.280 ($22,818.280) $0.000
$0.000 $0.000 $14,282.669 ($14,282.669) $0.000
$0.000 $0.000 $37,105.447 ($37,105.447) $0.000
($4,807.643) $49,741.166 $57,482.596 ($114,163.558) $87,049.470
$28,876.955 $155,705.486 $45,503.691 $105,690.478 $37,725.790
$0.000 $0.000 $0.000 $0.000 $1,519.000
$0.000 $0.000 $0.000 $0.000 $1,519.000
$0.000 $0.000 $0.000 $0.000 $759.500
($300.330) ($196.465) ($270.231) $0.000 $0.000
($1,705.408) $355.449 ($931.225) ($4,581.687) $670.463
$11,445.100 ($5,260.309) $10,095.140 $9,163.916 $3,846.655
$11,445.100 ($5,260.309) $10,095.140 $9,163.916 $3,846.655
$5,438.323 $2,897.276 $6,788.513 $1,559.333 $9,652.102
$14,877.685 ($2,204.049) $15,682.197 $6,141.562 $16,447.720
$43,754.640
$0.000 $153,501.437
$0.000 $61,185.888
$0.000 $111,832.040
$0.000 $54,173.510
$0.000
Generado: 1/21/2020 12:50:35 PM

Pág 15 de 113
2012-2013 2013-14 2014-2015
($67.237) ($12.934) $53.385
($1,471.416) $4,262.278 ($2,308.896)
($38.582) $1.233 $0.035
($1,577.235) $4,250.577 ($2,255.476)
$40,570.354 ($40,306.446) ($263.908)
$3,270.118 ($35,255.029) $47,073.751
($50.000) $0.000 $0.000
$0.000 ($10,159.453) $0.000
$5,111.519
$1.750 ($3,871.669)
($17.824) $13,748.978
$3.550
$0.000 $0.000 $0.000
$1,158.489 $11,911.874 ($3,472.199)
$9,320.334 $3,706.321 $16,351.100
($9.198) $149.819 $40.803
$30.334 ($60.298) ($10.155)

($8,375.641) ($6,677.916) $1,217.461
$916.569 ($2,875.035) $682.889
$6,615.438 ($15,782.651) ($13,810.745)
$4,758.836 ($27,366.559) $89,446.923
($35,504.675) ($15,480.297) $58,059.023
($1,018.463) ($5,070.918) ($5,001.010)
Generado: 1/21/2020 12:50:35 PM

Pág 16 de 113
($34,486.212) ($10,409.379) $63,060.033
$480.432 ($394.234) ($229.940)
$0.000 $0.000 $0.000
$480.432 ($394.234) ($229.940)
$9,746.175 ($74,226.041) $149,757.632
($35,354.866) $144,767.033 $38,325.595
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$1,499.843 $3,918.423 $10,713.419
$891.267 $24.848 $0.000
$0.000 $0.000 $3.402
$0.000 $3.402 ($3.402)
$891.267 $21.446 $0.000
($805.455) ($314.018) ($753.122)
($805.455) ($314.018) ($753.122)
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$2,569.475 $41,362.654 $0.001
($3,519.466) $0.000 $0.000
($949.991) $41,362.654 $0.001
($34,719.202) $189,755.538 $48,285.893
($24,973.027) $115,529.497 $198,043.525
($43,455.131) ($12,297.642) $65,247.965
($6,778.593) $1,939.903 $127,422.781
($623.029) ($4,597.136) $0.000
($944.975) $1,318.760 ($1,007.224)
($285.772) ($8,582.773) $3,522.651
$0.000 $7,887.810 ($7,610.355)
$0.000 $0.000 $0.000
$22,332.843 $22,335.247 $1,498.666
($2,181.873) $1,955.144 $517.236
($245.160) ($77.096) $118.947
($10.354) $79.884 $90.287
$376.547 ($68.020) $314.657
$414.155 $108.693 $22.746
$18,832.382 $20,360.513 ($2,532.389)
$228.074 ($440.480) $2,973.613
Generado: 1/21/2020 12:50:35 PM

Pág 17 de 113
$2,060.256 $3,037.049 $659.530
($8.217) ($23.347) $6.006
$2,564.198 ($5,738.511) ($440.405)
$0.000 $0.000 $0.000
($10,025.186) ($15,088.104) ($3,189.380)
($7,469.205) ($20,849.962) ($3,623.779)
$2.875 ($2.875) $16,390.260
($9,447.707) $417.565 ($241.485)
$0.000 $288.870 $4,409.209
($9,444.832) $703.560 $20,557.984
($46,027.049) ($7,547.059) $210,705.705
$17,529.209 $37,291.505 $26,325.016
$0.000 $41,497.782 ($41,497.782)
$0.000 $41,497.782 ($41,497.782)
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$0.000 $0.000 $0.000
$17,529.209 $78,789.287 ($15,172.766)
($28,497.840) $71,242.228 $195,532.939
$0.000 $2,000.000 $0.000
$0.000 $2,000.000 $0.000
$0.000 $1,000.000 $0.000
$0.000 $0.000 $0.000
($791.550) ($1,536.527) ($414.027)
$5,266.355 $1,461.142 $2,924.613
$5,266.355 $1,461.142 $2,924.613
($949.992) $41,362.654 $0.000
$3,524.813 $44,287.269 $2,510.586
($24,973.027)
$0.000 $115,529.497
$0.000 $198,043.525
$0.000
Generado: 1/21/2020 12:50:35 PM

Pág 18 de 113
ANALISIS HORIZONTAL-VARI
2004-2005 2005-2006 2006-2007 2007-2008
-52% 119% 14% 171%
444% -72% 27% -28%
-40% 158% 30% -51%
321% -64% 28% -30%
196% 6502% 945% -25%
43% 75% 14% -4%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
-69%
7% 156%
0% 7%
-11% 39%
2565%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
116% 30% 44% 45%
#DIV/0! #DIV/0! #DIV/0! -44%
-36% 356% 223% -20%

185% -64% -39% 889%
8% 185% 50% 544%
-56% 2297% 285% 96%
55% 57% 15% 12%
52% 33% 22% 64%
-15% 149% 14% 76%
Generado: 1/21/2020 12:50:35 PM

Pág 19 de 113
56% 29% 23% 63%
719% -28% 202% 38%
485% 31% 18% -9%
522% 19% 42% 4%
63% 40% 24% 25%
5% 5% 1% 176%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
30% 34% 82% 11%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
-10% -11% -59% -215%
11% 0% 0% 1319%
-11% -11% -62% -446%
25% 23% 56% 156%
58% 38% 27% 42%
33% 67% -27% 54%
46% 18% 30% 24%
-21% -83% -12% 310%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
1% -29% 1% 113%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
-75% 0% 15% -6%
117% -15% -60% -44%
351% 25% 48% 41%
29% 8% 65% 45%
75% 47% -10% -21%
33% -45% 167% 14%
9% 4% 19% 32%
23% -30% -21% 70%
176% 33% 31% 37%
Generado: 1/21/2020 12:50:35 PM

Pág 20 de 113
211% 46% -4% 40%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! 48% -100%
#DIV/0! -99% 24578% 8781%
#DIV/0! 1945% 55% 311%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
42% 29% 2% 52%
#DIV/0! #DIV/0! #DIV/0! -10%
96% 98% 0% -100%
96% 98% 0% -100%
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
96% 98% 191% -41%
43% 32% 14% 38%
39% 0% 0% 0%
39% 0% 0% 0%
134% 163% 28% 0%
94% 147% -20% -39%
110% -32% 90% -15%
#DIV/0! #DIV/0! #DIV/0! 96%
#DIV/0! #DIV/0! 78% 96%
-11% -11% -62% -446%
251% 72% 84% 51%
58% 38% 27% 42%
Generado: 1/21/2020 12:50:35 PM

Pág 21 de 113
IZONTAL-VARIACION RELATIVA
2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014
193% -33% 38% 41% -20% -5%
-70% 522% 6% 5% -77% 971%
-83% 106% 40% -59% -99% 287%
-52% 244% 10% 6% -69% 598%
-95% 9822% 66% -100% #DIV/0! -99%
194% 21% 57% 8% 1% -13%
#DIV/0! 1805% 0% 0% -53% 0%
#DIV/0! -100% #DIV/0! 0% 0% -100%
64%
-97% -56%
-3% 5531%
3% -98%
4% 1209%
7% -70%
-65%
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! 114% -23% 0% 76% 445%
58% 112% -2% -86% 155% 24%
-5% -99% -100% #DIV/0! -21% 424%
-23% -100% #DIV/0! -26% 53% -69%

551% -100% #DIV/0! -33% -53% -88%
-88% -100% #DIV/0! -48% 40% -89%
73% 212% 143% -18% 16% -33%
202% 0% 64% -13% 2% -10%
64% -11% 52% 67% -20% -11%
5% 159% 12% 33% -8% -46%
Generado: 1/21/2020 12:50:35 PM

Pág 22 de 113
68% -18% 57% 71% -20% -8%
24% -34% 80% 91% 66% -33%
422% -100% #DIV/0! -100% #DIV/0! #DIV/0!
279% -92% 993% -68% 66% -33%
136% 1% 63% 0% 2% -16%
-22% -30% -7% 365% -63% 703%
#DIV/0! #DIV/0! -100% #DIV/0! #DIV/0! #DIV/0!
4% -61% -5% 34% 42% 78%
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 3%
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 2%
#DIV/0! #DIV/0! -100% #DIV/0! -43% -29%
#DIV/0! #DIV/0! -100% #DIV/0! -43% -29%
#DIV/0! #DIV/0! 0% 0% 0% 0%
#DIV/0! #DIV/0! 0% 0% 0% 0%
179% 150% 14% 41% 14% 199%
0% 0% 0% 166% -51% 0%
69% 95% 11% 62% -4% 171%
-6% 175% -67% 187% -40% 367%
103% 20% 31% 11% -5% 23%
86% 25% 129% -57% -66% -54%
126% 7% 52% 45% -3% 1%
263% -8% 11% 124% -7% -52%
#DIV/0! #DIV/0! #DIV/0! 0% -100% 5275040%
266% -50% 101% 4% -1% -41%
-100% #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
874% -100% #DIV/0! #DIV/0! 248% 71%
59% -86% 1269% -16% -52% 98%
116% -36% 40% 159% -59% -45%
897% 30% -70% 115% -60% 1179%
262% 84% 73% 2% 267% -13%
176% 22% 23% -1% 886% 24%
269% -57% 112% 47% 42% 32%
-100% #DIV/0! 6% -52% 107% -100%
Generado: 1/21/2020 12:50:35 PM

Pág 23 de 113
30% 157% 17% 9% 346% 114%
#DIV/0! #DIV/0! #DIV/0! -21% -20% -71%
#DIV/0! -6% 38% -87% 71% -93%
-14% -100% #DIV/0! 93% -34% -77%
141% -39% 117% -22% -23% -81%
#DIV/0! #DIV/0! #DIV/0! -100% #DIV/0! -100%
#DIV/0! #DIV/0! #DIV/0! 139% -56% 6%
#DIV/0! #DIV/0! #DIV/0! -64% -56% 9%
108% -6% 114% -12% -13% -2%
717% 36% -100% #DIV/0! 20% 36%
717% 101% -100% #DIV/0! 20% 75%
148% 17% 35% 9% -6% 17%
0% 0% 0% 61% 0% 50%
0% 0% 0% 61% 0% 50%
0% 0% 0% 22% 0% 23%
-42% -100% #DIV/0! #DIV/0! #DIV/0! #DIV/0!
4% -9% -50% 15% -15% -34%
-22% 56% 32% 10% 13% 3%
-22% 56% 32% 10% 13% 3%
69% 95% 11% 62% -4% 171%
-5% 38% 11% 26% 4% 53%
103% 20% 31% 11% -5% 23%
Generado: 1/21/2020 12:50:35 PM

Pág 24 de 113
2014-2015 2004 2005 2006 2007 2008
21% 0% 0.0% $0.000 $0.000 $0.001
-49% 2% 5.9% $0.012 $0.012 $0.006
2% 1% 0.2% $0.004 $0.004 $0.001
-45% 2% 6.1% $0.016 $0.016 $0.008
-100% 0% 0.0% $0.006 $0.047 $0.025
19% 44% 39.7% $0.503 $0.452 $0.307
0% 0% 0.0% $0.000 $0.000 $0.000
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
827%
36% 1.10%
0.10% 0.22%
0.06% 0.40%
0.05% 0.34%
0.03% 0.34%
0.62%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
-24% 0.00% 0.00% 0.00% 0.00% 0.00%
86% 5.98% 8.19% 7.70% 8.72% 8.92%
22% 0.00% 0.00% 0.00% 0.09% 0.04%
-37% 0.06% 0.03% 0.09% 0.22% 0.13%

137% 1.98% 3.59% 0.95% 0.45% 3.15%
200% 0.09% 0.06% 0.13% 0.16% 0.71%
-43% 0.13% 0.04% 0.62% 1.87% 2.60%
36% 52.80% 51.80% 58.96% 53.33% 42.03%
44% 31.71% 30.59% 29.56% 28.43% 32.84%
-83% 1.85% 1.00% 1.80% 1.62% 2.01%
Generado: 1/21/2020 12:50:35 PM

Pág 25 de 113
51% 29.87% 29.59% 27.75% 26.81% 30.83%
-28% 0.03% 0.15% 0.08% 0.18% 0.17%
#DIV/0! 0.15% 0.55% 0.52% 0.49% 0.31%
-28% 0.18% 0.69% 0.60% 0.67% 0.49%
40% 85.13% 88.21% 89.47% 87.09% 76.63%
23% 20.34% 13.57% 10.29% 8.15% 15.91%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
120% 5.18% 4.26% 4.13% 5.92% 4.63%
0% 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
-100% 0.00% 0.00% 0.00% 0.00% 0.00%
0% 0.00% 0.00% 0.00% 0.00% 0.00%
-100% 0.00% 0.00% 0.00% 0.00% 0.00%
-100% 0.00% 0.00% 0.00% 0.00% 0.00%
0% 0.00% 0.00% 0.00% 0.00% 0.00%
0% 0.00% 0.00% 0.00% 0.00% 0.00%
0% -11.08% -6.35% -4.12% -1.33% 1.09%
0% 0.44% 0.31% 0.22% 0.17% 1.75%
0% -10.65% -6.05% -3.90% -1.16% 2.83%
20% 14.87% 11.79% 10.53% 12.91% 23.37%
32% 100.00% 100.00% 100.00% 100.00% 100.00%
633% 30.23% 25.44% 30.80% 17.64% 19.19%
65% 35.52% 32.81% 28.08% 28.79% 25.17%
0% 6.23% 3.12% 0.38% 0.26% 0.76%
-76% 0.00% 0.00% 0.00% 0.00% 0.00%
29% 9.36% 5.99% 3.10% 2.46% 3.70%
-96% 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.50% 0.08% 0.06% 0.05% 0.04%
3% 4.31% 5.92% 3.65% 1.15% 0.46%
13% 0.37% 1.07% 0.97% 1.13% 1.12%
128% 0.06% 0.05% 0.04% 0.05% 0.06%
104% 0.00% 0.00% 0.00% 0.00% 0.00%
70% 0.01% 0.01% 0.00% 0.01% 0.01%
4% 0.02% 0.01% 0.01% 0.01% 0.01%
-3% 20.87% 16.25% 8.21% 5.13% 6.15%
#DIV/0! 3.73% 6.54% 6.31% 6.51% 6.29%
Generado: 1/21/2020 12:50:35 PM

Pág 26 de 113
12% 0.06% 0.12% 0.13% 0.10% 0.09%
63% 0.00% 0.00% 0.00% 0.00% 0.00%
-100% 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 2.54% 2.95% 0.00%
-72% 0.00% 0.17% 0.00% 0.14% 8.98%
-74% 0.00% 0.17% 2.54% 3.09% 8.98%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
-3% 0.00% 0.00% 0.00% 0.00% 0.00%
1526% 0.00% 0.00% 0.00% 0.00% 0.00%
251% 0.00% 0.00% 0.00% 0.00% 0.00%
68% 90.42% 81.34% 76.07% 61.25% 65.87%
19% 0.00% 0.00% 0.00% 7.33% 4.66%
-100% 2.74% 3.40% 4.89% 3.84% 0.00%
-100% 2.74% 3.40% 4.89% 3.84% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
#DIV/0! 0.00% 0.00% 0.00% 0.00% 0.00%
-8% 2.74% 3.40% 4.89% 11.18% 4.66%
40% 93.15% 84.74% 80.96% 72.43% 70.54%
0% 4.68% 4.14% 3.00% 2.36% 1.67%
0% 4.68% 4.14% 3.00% 2.36% 1.67%
0% 1.18% 1.75% 3.35% 3.36% 2.37%
#DIV/0! 0.53% 0.65% 1.17% 0.73% 0.31%
-14% 11.10% 14.77% 7.28% 10.89% 6.54%
6% 0.00% 0.00% 0.00% 11.40% 15.74%
6% 0.00% 0.00% 8.14% 11.40% 15.74%
0% -10.65% -6.05% -3.90% -1.16% 2.83%
2% 6.85% 15.26% 19.04% 27.57% 29.46%
32% 100.00%
0% 100.00%
0.0% 100.00%
$0.000 100.00%
$0.000 100.00%
$0.000
Generado: 1/21/2020 12:50:35 PM

Pág 27 de 113
ANALISIS VERTICAL
2009 2010 2011 2012 2013 2014 2015
$0.001 $0.000 $0.001 $0.001 $0.001 $0.000 $0.000
$0.001 $0.005 $0.004 $0.004 $0.001 $0.008 $0.003
$0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000
$0.002 $0.005 $0.005 $0.004 $0.001 $0.008 $0.003
$0.001 $0.053 $0.068 $0.000 $0.080 $0.000 $0.000
$0.446 $0.448 $0.538 $0.520 $0.553 $0.393 $0.355
$0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.000
2.37% 0.00% 2.14% 1.92% 2.01% 0.00% 0.00%
0.27%
0.01% 0.10%
0.01% 4.24%
0.01% 0.08%
0.00% 1.10%
0.01% 0.27%
0.00% 1.88%
0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.31% 0.55% 0.32% 0.29% 0.53% 2.35% 1.36%
6.94% 12.22% 9.18% 1.14% 3.04% 3.07% 4.33%
0.02% 0.00% 0.00% 0.01% 0.01% 0.03% 0.03%
0.05% 0.00% 0.02% 0.01% 0.02% 0.00% 0.00%

10.10% 0.00% 5.03% 3.01% 1.50% 0.14% 0.26%
0.04% 0.00% 0.94% 0.43% 0.64% 0.06% 0.13%
2.21% 5.74% 10.68% 7.86% 9.56% 5.23% 2.28%
62.45% 51.91% 65.03% 51.08% 54.55% 39.97% 41.23%
26.59% 19.64% 22.82% 34.32% 28.98% 21.08% 23.08%
1.04% 2.24% 1.92% 2.29% 2.20% 0.98% 0.13%
Generado: 1/21/2020 12:50:35 PM

Pág 28 de 113
25.56% 17.40% 20.90% 32.02% 26.77% 20.11% 22.95%
0.11% 0.06% 0.08% 0.14% 0.24% 0.13% 0.07%
0.80% 0.00% 0.41% 0.00% 0.00% 0.00% 0.00%
0.91% 0.06% 0.49% 0.14% 0.24% 0.13% 0.07%
89.17% 75.24% 93.66% 83.67% 89.75% 61.06% 64.58%
6.11% 3.55% 2.53% 10.56% 4.08% 26.66% 24.89%
0.00% 2.88% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.35% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 12.07% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 1.04% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 16.38% 0.00% 0.00% 0.00% 0.00% 0.00%
2.37% 0.77% 0.55% 0.67% 1.00% 1.44% 2.40%
0.00% 0.00% 0.00% 0.00% 0.18% 0.15% 0.11%
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% 0.18% 0.15% 0.11%
0.00% 0.24% 0.00% 0.35% 0.21% 0.12% 0.00%
0.00% 0.24% 0.00% 0.35% 0.21% 0.12% 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%
1.49% 3.11% 2.71% 3.44% 4.12% 10.02% 7.59%
0.86% 0.72% 0.55% 1.31% 0.67% 0.55% 0.42%
2.35% 3.82% 3.25% 4.74% 4.79% 10.57% 8.01%
10.83% 24.76% 6.34% 16.33% 10.25% 38.94% 35.42%
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
17.61% 18.24% 31.97% 12.47% 4.48% 1.66% 9.23%
27.95% 24.94% 29.02% 37.82% 38.35% 31.52% 39.46%
1.35% 1.04% 0.88% 1.77% 1.74% 0.67% 0.51%
0.00% 0.00% 0.20% 0.18% 0.00% 0.21% 0.04%
6.67% 2.79% 4.28% 4.00% 4.14% 1.99% 1.94%
0.00% 0.00% 0.00% 0.00% 0.00% 1.27% 0.03%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2.19% 0.00% 0.00% 1.70% 6.21% 8.65% 6.74%
0.88% 0.10% 1.05% 0.79% 0.39% 0.64% 0.55%
0.06% 0.03% 0.03% 0.08% 0.03% 0.02% 0.03%
0.01% 0.01% 0.00% 0.00% 0.00% 0.01% 0.02%
0.01% 0.02% 0.03% 0.03% 0.10% 0.07% 0.09%
0.01% 0.01% 0.01% 0.01% 0.09% 0.09% 0.07%
11.18% 4.00% 6.49% 8.56% 12.71% 13.63% 10.02%
0.00% 0.11% 0.09% 0.04% 0.09% 0.00% 0.36%
Generado: 1/21/2020 12:50:35 PM

Pág 29 de 113
0.06% 0.13% 0.11% 0.11% 0.53% 0.92% 0.78%
0.00% 0.00% 0.01% 0.01% 0.01% 0.00% 0.00%
6.89% 5.40% 5.72% 0.68% 1.22% 0.07% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
3.79% 0.00% 3.22% 5.58% 3.87% 0.71% 0.15%
10.67% 5.40% 8.95% 6.27% 5.10% 0.79% 0.15%
0.00% 0.00% 8.52% 0.00% 0.00% 0.00% 2.00%
0.00% 0.00% 1.49% 3.20% 1.48% 1.27% 0.94%
0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.57%
0.00% 0.00% 10.01% 3.20% 1.48% 1.32% 3.51%
67.48% 52.83% 86.65% 68.47% 62.74% 49.83% 63.52%
18.75% 21.20% 0.00% 16.44% 20.73% 22.88% 20.56%
0.00% 0.00% 0.00% 0.00% 0.00% 6.69% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 6.69% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 6.28% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 3.93% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 10.21% 0.00% 0.00% 0.00% 0.00% 0.00%
18.75% 31.40% 0.00% 16.44% 20.73% 29.57% 20.56%
86.22% 84.23% 86.65% 84.91% 83.46% 79.40% 84.08%
0.82% 0.68% 0.52% 0.76% 0.79% 0.97% 0.73%
0.82% 0.68% 0.52% 0.76% 0.79% 0.97% 0.73%
1.17% 0.97% 0.74% 0.81% 0.85% 0.85% 0.65%
0.09% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
3.34% 2.52% 0.96% 0.99% 0.88% 0.47% 0.31%
6.01% 7.77% 7.87% 7.79% 9.22% 7.74% 6.22%
6.01% 7.77% 7.87% 7.79% 9.22% 7.74% 6.22%
2.35% 3.82% 3.25% 4.74% 4.79% 10.57% 8.01%
13.78% 15.77% 13.35% 15.09% 16.54% 20.60% 15.92%
100.00%
$0.000 100.00%
$0.000 100.00%
$0.000 100.00%
$0.000 100.00%
$0.000 100.00%
$0.000 100.00%
$0.000
Generado: 1/21/2020 12:50:35 PM

Pág 30 de 113
AN
2004-2005 2005-2006 2006-2007
-14168 15616 4116
2887108 -2552419 269988
-76489 184949 89650
2796451 -2351854 363754
4731 464871 4460608
7210853 17752995 5934503
0 0 0
0 0 0
-286944 203501 24709
2664 0 -4176
0 0 0
0 0 0
2633203 1456910 2802443
0 0 99021
-8874 56202 160576
1397353 -1369652 -307354
2957 71125 54296
-27728 491027 1457884
10978940 17680054 7306134
6276612 6095128 5439812
-104301 891883 208733
6380913 5203245 5231079
76395 -24564 126058
272401 102544 79356
348796 77980 205414
20509831 21074296 17566989
400427 371942 57110
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
586305 859314 2801272
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
408373 404509 2002337
17578 0 0
425951 404509 2002337
1412683 1635765 4860719
21922514 22710061 22427708
3751925 10209533 -6926850
6162739 3542507 7040353
-500509 -1557691 -37494
0 0 0
29297 -1024230 22923
0 0 0
-143317 0 7305
1909541 -530345 -1810689
498849 157731 385385
7241 2487 22395
843 918 -285
1774 -3239 6588
607 290 1383
1804326 -2954079 -1402489
2504313 1292264 1623229
48699 33107 -4548
0 0 0
0 0 0
0 2100000 1000000
102699 -102089 149925
102699 1997911 1149925
0 0 0
0 0 0
0 0 0
0 0 0
14374701 14121243 1479620
0 0 7706427
1000000 2000000 0
1000000 2000000 0
0 0 0
0 0 0
0 0 0
0 0 0
1000000 2000000 7706427
15374701 16121243 9186047
700000 0 0
700000 0 0
601500 1715714 762951
188987 572884 -196463
4631375 -2834479 5422810
0 0 11980216
0 6730190 5250026
425951 404509 2002337
6547813 6588818 13241661
21922514 22710061 22427708
ANALISIS HORIZONTAL- VARIACION ABSOLUTA
2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014
56013 171045 -86494 66475 98996 -67237 -12934
-352355 -627700 1435416 104861 94808 -1471416 4262278
-201607 -157231 34656 26685 -55075 -38582 1233
-497949 -613886 1383578 198021 138729 -1577235 4250577
-1232728 -3504462 19196519 12880948 -32272906 40570354 -40306446
-1743161 88973700 27986704 93152529 19676246 3270118 -35255029
0 4944 89230 0 0 -50000 0
0 7161140 -7161140 10159453 0 0 -10159453
140469 317370 -458729 19809134 -19744486 5111519 -3871669
889427 -899250 -800 750 1000 1750 -17824
0 0 0 0 0 0 0
0 928385 1060675 -466547 -4476 1158489 11911874
4103015 7706005 23436341 -784850 -37608614 9320334 3706321
-43186 -2915 -52586 -334 44516 -9198 149819
-45833 -42413 -144333 77655 -20043 30334 -60298
4216649 25858984 -30550003 23900423 -7960331 -8375641 -6677916
890855 -930276 -124417 4453331 -2152672 916569 -2875035
1894381 2809464 14182525 29895909 -9125854 6615438 -15782651
6513854 126266210 -101583 120405635 -38643006 4758836 -27366559
19003499 31525231 -9020025 37117122 73217160 -35504675 -15480297
1287818 148785 4999882 1000000 3000000 -1018463 -5070918
17715681 31376446 -14019907 36117122 70217160 -34486212 -10409379
70888 61739 -108504 169867 349474 480432 -394234
-44357 1964905 -2431066 1940886 -1940886 0 0
26531 2026644 -2539570 2110753 -1591412 480432 -394234
22525389 155550952 3919037 171712479 -2151435 9746175 -74226041
15119395 -5223353 -5547392 -882742 43904297 -35354866 144767033
0 0 10485388 -10485388 0 0 0
0 0 1281563 -1281563 0 0 0
0 0 110331 -110331 0 0 0
0 0 43888231 -43888231 0 0 0
0 0 3777358 -3777358 0 0 0
0 0 59542871 -59542871 0 0 0
671534 276562 -4383932 -147719 895952 1499843 3918423
0 0 0 0 0 891267 24848
0 0 0 0 0 0 0
0 0 0 0 0 0 3402
0 0 0 0 0 891267 21446
0 0 866440 -866440 1872595 -805455 -314018
0 0 866440 -866440 1872595 -805455 -314018
0 0 350 0 0 0 0
0 0 350 0 0 0 0
3021375 2897276 6788514 1559333 5335168 2569475 41362654
2416947 0 0 0 4316933 -3519466 0
5438322 2897276 6788514 1559333 9652101 -949991 41362654
21229251 -2049515 57266851 -59880439 56324945 -34719202 189755538
43754640 153501437 61185888 111832040 54173510 -24973027 115529497
10029629 24688100 13072076 85664366 -85935532 -43455131 -12297642
7200448 47055500 6152575 47288934 62314622 -6778593 1939903
853563 2963170 -328005 432130 5187706 -623029 -4597136
0 0 0 945000 0 -944975 1318760
2925715 14665045 -10037696 10224610 833388 -285772 -8582773
0 0 0 0 0 0 7887810
-3146 -52194 0 0 0 0 0
-528462 5931366 -6610388 0 8998326 22332843 22335247
488606 979277 -2288185 4614284 -806474 -2181873 1955144
25770 95291 -63509 46017 255185 -245160 -77096
-554 18376 6203 -18644 9148 -10354 79884
1508 31498 36399 58163 2711 376547 -68020
2766 20198 6983 8743 -642 414155 108693
3765766 24652027 -19278198 16310303 14479348 18832382 20360513
2530013 -9370416 416712 24495 -228801 228074 -440480
39789 41650 285723 79215 48045 2060256 3037049
0 0 0 51760 -10735 -8217 -23347
0 20818280 -1179126 7558550 -23582986 2564198 -5738511
-3100000 0 0 0 0 0 0
13218953 -1920821 -11448667 15289044 14245621 -10025186 -15088104
10118953 18897459 -12627793 22899354 -9348100 -7469205 -20849962
0 0 0 40510809 -40510809 2875 -2875
0 0 0 7076560 9857547 -9447707 417565
0 0 0 0 0 0 288870
0 0 0 47587369 -30653262 -9444832 703560
33684598 105964320 -11978905 219854036 -49323680 -46027049 -7547059
-766631 49741166 20377149 -77058111 87049470 17529209 37291505
-4041012 0 0 0 0 0 41497782
-4041012 0 0 0 0 0 41497782
0 0 4498 -4498 0 0 0
0 0 22818280 -22818280 0 0 0
0 0 14282669 -14282669 0 0 0
0 0 37105447 -37105447 0 0 0
-4807643 49741166 57482596 -114163558 87049470 17529209 78789287
28876955 155705486 45503691 105690478 37725790 -28497840 71242228
0 0 0 0 1519000 0 2000000
0 0 0 0 1519000 0 2000000
0 0 0 0 759500 0 1000000
-300330 -196465 -270231 0 0 0 0
-1705408 355449 -931225 -4581687 670463 -791550 -1536527
11445100 -5260309 10095140 9163916 3846655 5266355 1461142
11445100 -5260309 10095140 9163916 3846655 5266355 1461142
5438323 2897276 6788513 1559333 9652102 -949992 41362654
14877685 -2204049 15682197 6141562 16447720 3524813 44287269
43754640 153501437 61185888 111832040 54173510 -24973027 115529497
2014-2015
53385
-2308896
35
-2255476
-263908
47073751
0
0
13748978
3550
0
-3472199
16351100
40803
-10155
1217461
682889
-13810745
89446923
58059023
-5001010
63060033
-229940
0
-229940
149757632
38325595
0
0
0
0
0
0
10713419
0
3402
-3402
0
-753122
-753122
0
0
1
0
1
48285893
198043525
65247965
127422781
0
-1007224
3522651
-7610355
0
1498666
517236
118947
90287
314657
22746
-2532389
2973613
659530
6006
-440405
0
-3189380
-3623779
16390260
-241485
4409209
20557984
210705705
26325016
-41497782
-41497782
0
0
0
0
-15172766
195532939
0
0
0
0
-414027
2924613
2924613
0
2510586
198043525
ANALISIS H
2004-2005 2005-2006 2006-2007
-0.51950719 1.191697192 0.143314763
4.438556654 -0.7215178 0.274057758
-0.39534511 1.580963371 0.296919194
3.209858277 -0.64124136 0.276449988
1.955766846 65.01692308 9.450020232
0.434516106 0.745736566 0.142797121
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
-0.68686327 1.555627752 0.073908895
0.073613529 0 -0.10748205
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
1.156770009 0.296750574 0.440188997
#DIV/0! #DIV/0! #DIV/0!
-0.35963526 3.55686349 2.2301293
1.853196786 -0.63663999 -0.39317457
0.083389735 1.851393914 0.495663764
-0.56467905 22.97094873 2.845190212
0.546474803 0.569050054 0.149871039
0.520081508 0.332247777 0.222575901
-0.14822115 1.487999346 0.13997024
0.561461319 0.293210868 0.227943767
7.188088069 -0.2822702 2.018251973
4.845527154 0.312046206 0.18405147
5.217981898 0.18761383 0.416137077
0.633101935 0.398337636 0.237456219
0.051740524 0.045695568 0.006709741
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
0.297503489 0.336056127 0.819955924
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
-0.09681316 -0.10617639 -0.58801054
0.106147343 0 0
-0.10510675 -0.1115393 -0.62143927
0.249708387 0.231366586 0.558332459
0.576103068 0.378654845 0.271240514
0.326103404 0.669159537 -0.27199551
0.455937268 0.180011136 0.303177511
-0.21112261 -0.83290343 -0.11997965
#DIV/0! #DIV/0! #DIV/0!
0.008228283 -0.28531506 0.008934783
#DIV/0! #DIV/0! #DIV/0!
-0.74897048 0 0.152076611
1.165081023 -0.14945535 -0.59992883
3.51453089 0.246151613 0.482624709
0.294349593 0.078106843 0.652382894
0.748667851 0.466226511 -0.09871839
0.328214616 -0.45117704 1.672081218
0.094533562 0.041263517 0.188986062
0.227215127 -0.30312631 -0.20651278
1.762859558 0.329246785 0.31113185
2.113763618 0.461498787 -0.04337832
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! 0.476190476
#DIV/0! -0.99406031 245.7786885
#DIV/0! 19.45404532 0.54742432
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
0.417788524 0.289480395 0.023522403
#DIV/0! #DIV/0! #DIV/0!
0.96060372 0.979906047 0
0.96060372 0.979906047 0
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0!
0.96060372 0.979906047 1.907053728
0.433729694 0.317207701 0.13722069
0.393037619 0 0
0.393037619 0 0
1.336666667 1.631682359 0.275710877
0.937351824 1.466658133 -0.20390788
1.096081477 -0.32003537 0.90045662
#DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! 0.780070994
-0.10510675 -0.1115393 -0.62143927
2.513116903 0.719832305 0.841163045
0.576103068 0.378654845 0.271240514
ANALISIS HORIZONTAL-VARIACION RELATIVA
2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014
1.70584115 1.925120148 -0.33280491 0.383362168 0.41269828 -0.19841474 -0.04761554
-0.28073009 -0.69529444 5.218119622 0.061304333 0.052225454 -0.77030711 9.714549449
-0.51484994 -0.82763177 1.058327735 0.395908133 -0.58536248 -0.98897775 2.86744186
-0.29647622 -0.51953396 2.437065259 0.101481524 0.064545471 -0.6893356 5.979855546
-0.24991298 -0.94717724 98.22256049 0.664241744 -1 #DIV/0! -0.99349505
-0.03670316 1.944766555 0.207733581 0.572503916 0.076901413 0.011868055 -0.12644839
#DIV/0! #DIV/0! 18.04813916 0 0 -0.5309321 0
#DIV/0! #DIV/0! -1 #DIV/0! 0 0 -1
0.391250216 0.635381736 -0.5615726 55.31176425 -0.97903613 12.09014296 -0.69957662
25.64890273 -0.97310476 -0.03218798 0.031179845 0.040316078 0.067818943 -0.64687523
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! 1.142494762 -0.23455652 -0.00293988 0.763149383 4.450498146
0.447492757 0.580625083 1.117191044 -0.01767113 -0.86200147 1.548024065 0.241593773
-0.43612971 -0.0522074 -0.99368859 -1 #DIV/0! -0.20662234 4.242001246
-0.19706422 -0.22711598 -1 #DIV/0! -0.25810315 0.526522252 -0.68562527
8.888945338 5.512444951 -1 #DIV/0! -0.33306235 -0.52544496 -0.88280247
5.437413787 -0.88203487 -1 #DIV/0! -0.48338468 0.398394112 -0.89363732
0.961474648 0.726961281 2.124999176 1.43339889 -0.17981069 0.158922905 -0.3271548
0.116203436 2.018016617 -0.00053794 0.637964434 -0.12500175 0.017592953 -0.09942237
0.635992495 0.644904473 -0.11217709 0.519929401 0.674775873 -0.19537793 -0.10587107
0.75754 0.04979721 1.59404362 0.122903195 0.328353847 -0.08391746 -0.45609894
0.628659981 0.683646017 -0.18143534 0.571001036 0.706627522 -0.20335462 -0.07704923
0.376029748 0.238002352 -0.33786713 0.798847818 0.913640796 0.656344905 -0.32516477
-0.08688626 4.215078052 -1 #DIV/0! -1 #DIV/0! #DIV/0!
0.037953751 2.79319042 -0.92273845 9.926415538 -0.68495171 0.656344905 -0.32516477
0.246053007 1.363617394 0.014535235 0.627736534 -0.00483192 0.021995265 -0.16390885
1.764508411 -0.22050619 -0.30043297 -0.06833815 3.648195558 -0.63202737 7.033003764
#DIV/0! #DIV/0! #DIV/0! -1 #DIV/0! #DIV/0! #DIV/0!
0.108004627 0.040144429 -0.6117908 -0.05310185 0.340137718 0.424880129 0.779028967
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.027879412
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.024062374
#DIV/0! #DIV/0! #DIV/0! -1 #DIV/0! -0.43012771 -0.2942613
#DIV/0! #DIV/0! #DIV/0! -1 #DIV/0! -0.43012771 -0.2942613
#DIV/0! #DIV/0! #DIV/0! 0 0 0 0
#DIV/0! #DIV/0! #DIV/0! 0 0 0 0
-2.15360704 1.790168051 1.503309111 0.137942458 0.414750472 0.141189805 1.991633653
13.19452664 0 0 0 1.660279025 -0.50880967 0
-4.45852172 0.686792161 0.954000505 0.11214711 0.624178543 -0.03782446 1.711619762
1.564829111 -0.0589013 1.748807237 -0.66524149 1.869233289 -0.40157494 3.667596569
0.416261319 1.03112423 0.202354715 0.307606633 0.113956554 -0.04715799 0.228958128
0.540974451 0.864140015 0.245449687 1.291492642 -0.56538728 -0.6578273 -0.54406066
0.237935087 1.2560632 0.072795872 0.521545579 0.451687157 -0.03384654 0.01002556
3.103763877 2.625592341 -0.08016268 0.11481408 1.236384757 -0.06639571 -0.52475463
#DIV/0! #DIV/0! #DIV/0! #DIV/0! 0 -0.99997354 52750.4
1.130268177 2.659491472 -0.49742602 1.008187286 0.040920176 -0.01348008 -0.41038794
-0.05684857 -1 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
-0.43765549 8.735160275 -1 #DIV/0! #DIV/0! 2.481888631 0.712876273
0.412707449 0.58551339 -0.86288416 12.69048025 -0.16201134 -0.52305382 0.982712076
0.454313065 1.155140436 -0.35722562 0.402686502 1.592000848 -0.59006876 -0.4526618
-0.21291314 8.97265625 0.30371132 -0.70019153 1.145935112 -0.60440138 11.7875166
0.143237082 2.616982386 0.836105113 0.727646904 0.019631271 2.674206538 -0.13147671
0.317894495 1.761402285 0.220527396 0.226221279 -0.01354688 8.859119981 0.235825682
0.698812817 2.692865346 -0.57024957 1.122649638 0.469518708 0.415560281 0.317386993
0.36986315 -1 #DIV/0! 0.058781605 -0.51857971 1.073764395 -1
0.396711766 0.297317362 1.572187129 0.169458712 0.087886016 3.464251184 1.1439087
#DIV/0! #DIV/0! #DIV/0! #DIV/0! -0.20739954 -0.2002925 -0.71162521
#DIV/0! #DIV/0! -0.05663897 0.384871466 -0.86709474 0.709377052 -0.92872455
-1 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
87.81315309 -0.14367199 -1 #DIV/0! 0.931753548 -0.33943795 -0.77337298
3.11301155 1.413476642 -0.39135382 1.166005114 -0.21975618 -0.22504107 -0.8106138
#DIV/0! #DIV/0! #DIV/0! #DIV/0! -1 #DIV/0! -1
#DIV/0! #DIV/0! #DIV/0! #DIV/0! 1.392985716 -0.55790996 0.055776475
#DIV/0! #DIV/0! #DIV/0! #DIV/0! -0.64414702 -0.55774019 0.093942338
0.523197309 1.080531979 -0.05871116 1.144761747 -0.11974492 -0.12694225 -0.02384119
-0.09947943 7.167525674 0.359506054 -1 #DIV/0! 0.201370657 0.356588029
-0.40925031 7.167525674 1.014142915 -1 #DIV/0! 0.201370657 0.753397229
0.379312871 1.482816157 0.174536176 0.345150333 0.091588291 -0.06338036 0.169167517
0 0 0 0 0.612253124 0 0.5
0 0 0 0 0.612253124 0 0.5
0 0 0 0 0.215145751 0 0.233118437
-0.39155126 -0.42096997 -1 #DIV/0! #DIV/0! #DIV/0! #DIV/0!
-0.14900771 0.036494895 -0.09224488 -0.49997048 0.146318123 -0.15069419 -0.34442467
0.95533336 -0.22455659 0.555746552 0.324269934 0.102785606 0.127605122 0.031397376
0.95533336 -0.22455659 0.555746552 0.324269934 0.102785606 0.127605122 0.031397376
-4.45852254 0.686791998 0.95400023 0.11214711 0.624178608 -0.0378245 1.711619762
0.513311305 -0.05025027 0.376456606 0.107108598 0.259096158 0.044099377 0.530680872
0.416261319 1.03112423 0.202354715 0.307606633 0.113956554 -0.04715799 0.228958128
2014-2015
0.2063587167
-0.491146834
0.0210463019
-0.45460539
-1
0.193278027
0
#DIV/0!
8.2693954292
0.3648509764
#DIV/0!
-0.238010954
0.8584404137
0.2203935464
-0.367296007
1.3732802427
1.9956252758
-0.425476222
0.3608345894
0.4440865406
-0.827009094
0.5057305148
-0.281038746
#DIV/0!
-0.281038746
0.3955318436
0.2317832839
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
1.1972569327
0
#DIV/0!
-1
0
-1
-1
0
0
1.609506E-08
0
1.526055E-08
0.199946614
0.3193645779
6.3311905911
0.6519936186
0
-0.763751483
0.2856736797
-0.964824837
#DIV/0!
0.0279255839
0.1311223234
1.2759678613
1.0418411973
0.7002741836
0.0399334968
-0.029965219
#DIV/0!
0.115869153
0.6348166156
-1
#DIV/0!
-0.721354782
-0.743912896
#DIV/0!
-0.030552387
15.263644546
2.5092637652
0.6818767967
0.1855570724
-1
-1
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
-0.082744911
0.3971208309
0
0
0
#DIV/0!
-0.141566374
0.0609317034
0.0609317034
0
0.0196537298
0.3193645779
2004 2005 2006 2007
0.0007166825 0.000218489 0.0003473394 0.0003123865
0.0170935039 0.058983445 0.0119143959 0.0119407999
0.0050843149 0.001950542 0.0036515873 0.0037253483
0.0228945013 0.061152477 0.0159133227 0.0159785346
6.356905E-05 0.000119215 0.0057086181 0.0469267408
0.4361045277 0.396927702 0.5026139833 0.4518309532
0 0 0 0
0 0 0 0
0.0109783402 0.002181153 0.004043227 0.0034156066
0.0009510129 0.000647813 0.0004698879 0.0003299009
0 0 0 0
0 0 0 0
0.0598201025 0.081858989 0.0769958418 0.0872286266
0 0 0 0.0009420398
0.0006484358 0.000263457 0.0008708037 0.0022126486
0.0198150159 0.035870839 0.0094541636 0.0045129358
0.0009318555 0.000640544 0.0013248 0.0015586786
0.001290407 0.000356411 0.0061969976 0.0187443952
0.5279588836 0.518034085 0.5895757096 0.5332869948
0.3171492601 0.305876396 0.2955802532 0.2842650861
0.0184921806 0.009993793 0.0180353707 0.0161730103
0.2986570796 0.295882602 0.2775448824 0.2680920759
0.0002792939 0.001450973 0.0007553786 0.0017934632
0.0014773299 0.005479193 0.0052144696 0.0048568311
0.0017566238 0.006930165 0.0059698483 0.0066502943
0.8513306573 0.882118544 0.8947123811 0.8709346404
0.2033772482 0.135714534 0.1029380829 0.0815178321
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0.0517894582 0.042634904 0.0413175383 0.0591517481
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
-0.110849176 -0.06352219 -0.041183355 -0.013346891
0.0043518124 0.003054207 0.0022153532 0.0017426704
-0.106497364 -0.06046798 -0.038968002 -0.01160422
0.1486693427 0.117881456 0.1052876189 0.1290653596
1 1 1 1
0.3023490773 0.254390813 0.307995038 0.1763802908
0.3552045456 0.328122917 0.2808452723 0.2879008645
0.0622998472 0.031182568 0.0037794087 0.0026163079
0 0 0 0
0.093567225 0.059854666 0.0310282363 0.0246259197
0 0 0 0
0.0050285508 0.000800909 0.0005809349 0.0005264791
0.0430707755 0.059166003 0.0365017592 0.0114874418
0.0037300235 0.01068414 0.0096572822 0.0112631127
0.0006464649 0.000530899 0.0004151625 0.0005396363
2.959022E-05 3.283E-05 3.491535E-05 2.475422E-05
0.0001420383 0.000119699 4.765033E-05 0.0001001585
0.0001687378 0.000117181 8.850383E-05 8.277727E-05
0.2086832533 0.162488894 0.0821338533 0.0512665874
0.0373319543 0.065441752 0.063096459 0.0650764164
0.0006054433 0.001196119 0.0012679946 0.0009541791
0 0 0 0
0 0 0 0
0 0 0.0253973826 0.0294919599
0 0.001712346 7.377335E-06 0.0014321201
0 0.001712346 0.0254047599 0.03092408
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0.9041742737 0.813352841 0.760743377 0.6125024181
0 0 0 0.0733153665
0.0273568172 0.034030692 0.0488719656 0.0384443109
0.0273568172 0.034030692 0.0488719656 0.0384443109
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0.0273568172 0.034030692 0.0488719656 0.1117596774
0.9315310908 0.847383533 0.8096153426 0.7242620955
0.0468030065 0.041366805 0.0300051934 0.0236030814
0.0468030065 0.041366805 0.0300051934 0.0236030814
0.0118255772 0.017532122 0.0334666631 0.0335843499
0.0052983316 0.006512729 0.011652428 0.007297129
0.1110393576 0.147672792 0.0728335132 0.1088833551
0 0 0 0.1139742096
0 0 0.081394862 0.1139742096
-0.106497364 -0.06046798 -0.038968002 -0.01160422
0.0684689092 0.152616467 0.1903846574 0.2757379045
1 1 1 1
ANALISIS VERTICAL
2008 2009 2010 2011 2012 2013 2014
0.0005968306 0.0008595246 0.0004769562 0.0005045885 0.0006399094 0.0005383284 0.0004171791
0.0060643173 0.0009097579 0.0047049203 0.0038186961 0.0036070789 0.0008695254 0.0075808712
0.0012761437 0.000108298 0.0001853968 0.0001979165 7.366858E-05 8.521806E-07 2.68175E-06
0.0079372916 0.0018775804 0.0053672734 0.004521201 0.0043206569 0.001408706 0.0080007321
0.0248535626 0.0006463582 0.0533397666 0.0678875925 0 0.0804029495 0.0004255775
0.3073213421 0.4455609343 0.4475542004 0.5382205282 0.5203169235 0.5525491811 0.3927556302
0 1.635086E-05 0.0002590362 0.0001980995 0.0001778341 8.754471E-05 7.12349E-05
0 0.0236834095 0 0.0213708925 0.0191846732 0.0201341597 0
0.0033552871 0.0027015459 0.0009850934 0.0424228115 0.0007983671 0.0109679665 0.0026811601
0.0062075381 8.219745E-05 6.616324E-05 5.217639E-05 4.872716E-05 5.460694E-05 1.569058E-05
0 0 0 0 0 0 0
0 0.0030703662 0.0054711338 0.0032026785 0.0028665957 0.0053043803 0.0235252236
0.089152195 0.0693784228 0.1221664236 0.0917765344 0.0113694079 0.0304032827 0.0307158768
0.0003750637 0.0001750177 9.187047E-07 0 8.40621E-05 6.999375E-05 0.0002985515
0.0012544399 0.0004773399 0 0.000163351 0.000108792 0.0001742927 4.458511E-05
0.0315112578 0.1010353423 0 0.0502756763 0.0301005828 0.014991345 0.0014296245
0.0070847513 0.0004114734 0 0.0093677935 0.0043444653 0.0063759518 0.0005518197
0.0259603616 0.0220727707 0.0573685863 0.106760436 0.0786060891 0.0956070324 0.0523441208
0.4203015135 0.6245196295 0.5191343831 0.6502901058 0.5107943419 0.5455056727 0.3997452763
0.3283684595 0.2659289568 0.1963628681 0.2282473099 0.343157986 0.289777827 0.2108279617
0.0200702456 0.0103734117 0.0223803193 0.0192190307 0.0229180153 0.0220338664 0.0097515474
0.308298214 0.2555555452 0.1739825488 0.2090282793 0.3202399707 0.2677439606 0.2010764143
0.0017425165 0.0010620914 0.0005848903 0.0008046217 0.0013822414 0.0024027787 0.0013193938
0.0031313707 0.0080400511 0 0.004082746 0 0 0
0.0048738872 0.0091021425 0.0005848903 0.0048873677 0.0013822414 0.0024027787 0.0013193938
0.7662644688 0.8917012558 0.7524088622 0.9366145462 0.8367372109 0.8974640675 0.6105673939
0.1591208694 0.061066542 0.0355303963 0.0253151935 0.105632459 0.0407935976 0.2666446605
0 0 0.0288412418 0 0 0 0
0 0 0.0035250835 0 0 0 0
0 0 0.0003034779 0 0 0 0
0 0 0.1207195271 0 0 0 0
0 0 0.010390049 0 0 0 0
0 0 0.1637793792 0 0 0 0
0.0462770604 0.0236986127 0.0076516683 0.0055409252 0.0066659716 0.0099682953 0.0144300165
0 0 0 0 0 0.0017663266 0.0014773252
0 0 0 0 0 0 0
0 0 0 0 0 0 5.486058E-06
0 0 0 0 0 0.0017663266 0.0014718391
0 0 0.0023832409 0 0.0035361277 0.0021148744 0.001214483
0 0 0.0023832409 0 0.0035361277 0.0021148744 0.001214483
0 0 9.627145E-07 7.362416E-07 6.609249E-07 6.936354E-07 5.644093E-07
0 0 9.627145E-07 7.362416E-07 6.609249E-07 6.936354E-07 5.644093E-07
0.0108716288 0.0149344244 0.0310935535 0.0270591123 0.0343656956 0.0411587451 0.1001920928
0.0174659726 0.0085991651 0.0071519369 0.0054694866 0.0130618742 0.0067333999 0.0054789498
0.0283376013 0.0235335895 0.0382454904 0.0325285988 0.0474275698 0.047892145 0.1056710426
0.2337355312 0.1082987442 0.2475911378 0.0633854538 0.1632627891 0.1025359325 0.3894326061
1 1 1 1 1 1 1
0.1919119856 0.1761343823 0.1824474165 0.3197268214 0.1247421569 0.0447958419 0.0166191069
0.2516502972 0.2795195716 0.2494001471 0.2902047768 0.3781893878 0.3834727902 0.3151590854
0.0075810231 0.013532259 0.0103525829 0.0088262058 0.0177195349 0.0173617804 0.0067139031
0 0 0 0.0019878524 0.0017844973 4.954538E-08 0.00212667
0.0370410548 0.0667371409 0.0278955536 0.0428412449 0.0400323658 0.0414472974 0.019884995
0 0 0 0 0 0 0.0127198661
0.0003506058 0 0 0 0 0 0
0.0045612344 0.0218619558 0 0 0.0169920511 0.062092591 0.0865423512
0.0112348498 0.0087700223 0.0010001283 0.0104712199 0.0078771147 0.0039428989 0.0063611876
0.0005541351 0.0005879694 0.0003143263 0.0003371818 0.0007845689 0.0003375368 0.000150328
1.375715E-05 6.75465E-05 7.324057E-05 1.679262E-05 3.234944E-05 1.343076E-05 0.0001397493
8.085013E-05 0.0001439762 0.0002198647 0.0002904915 0.0002658939 0.0010253001 0.0007245951
7.702795E-05 0.0001047229 0.0001063057 9.968922E-05 8.82788E-05 0.0009134266 0.0009185309
0.0614945382 0.111805593 0.039962002 0.0648706782 0.0855766546 0.1271343116 0.1362821763
0.0629444465 0 0.0011462133 0.0009280999 0.0004010983 0.00087295 0
0.0009410079 0.0006010395 0.0012857987 0.0011499548 0.0011230417 0.0052616702 0.0091789461
0 0 0 0.0001088796 7.746984E-05 6.50194E-05 1.525679E-05
0 0.0688504694 0.0540197071 0.0572116637 0.0068258777 0.0122454705 0.0007101962
0 0 0 0 0 0 0
0.089807648 0.037863171 0 0.0321612311 0.0557719886 0.0386641846 0.0071299002
0.089807648 0.1067136404 0.0540197071 0.0894817744 0.0626753362 0.0509746744 0.0078553531
0 0 0 0.0852164132 0 5.697719E-06 0
0 0 0 0.0148858805 0.0319776379 0.0148366623 0.0127459176
0 0 0 0 0 0 0.0004658312
0 0 0 0.1001022936 0.0319776379 0.01484236 0.0132117487
0.6587499234 0.6747742268 0.5282612847 0.8664643991 0.6846853135 0.6273545983 0.4983064166
0.0466170998 0.1874559684 0.2119570214 0 0.1643804679 0.2072556293 0.2287795647
0 0 0 0 0 0 0.0669192372
0 0 0 0 0 0 0.0669192372
0 0 1.237226E-05 0 0 0 0
0 0 0.0627642515 0 0 0 0
0 0 0.0392860912 0 0 0 0
0 0 0.102062715 0 0 0 0
0.0466170998 0.1874559684 0.3140197364 0 0.1643804679 0.2072556293 0.2956988019
0.7053670233 0.8622301952 0.8422810211 0.8664643991 0.8490657814 0.8346102275 0.7940052185
0.0166657672 0.0082051934 0.0068242702 0.0052189015 0.0075534276 0.0079272613 0.0096755876
0.0166657672 0.0082051934 0.0068242702 0.0052189015 0.0075534276 0.0079272613 0.0096755876
0.023713385 0.0116750047 0.0097101168 0.0074258699 0.0081004185 0.0085013239 0.0085301028
0.0031349645 0.0008937113 0 0 0 0 0
0.0654249992 0.0333867701 0.0252063813 0.0096389345 0.0099189553 0.0088411576 0.0047162265
0.1573562529 0.0600755326 0.0777327202 0.0787232962 0.0779338454 0.0922278847 0.077401822
0.1573562529 0.0600755326 0.0777327202 0.0787232962 0.0779338454 0.0922278847 0.077401822
0.0283376081 0.0235335928 0.0382454904 0.0325285988 0.0474275717 0.047892145 0.1056710426
0.2946329767 0.1377698048 0.1577189789 0.1335356009 0.1509342186 0.1653897725 0.2059947815
1 1 1 1 1 1 1
2015
0.000381447
0.0029237941
2.075386E-06
0.0033073164
0
0.3552214993
5.399182E-05
0
0.0188368962
1.623153E-05
0
0.0135868152
0.0432659992
0.0002761559
2.138088E-05
0.0025716164
0.00125291
0.0227935042
0.4123099923
0.230757917
0.001278592
0.229479325
0.0007189772
0
0.0007189772
0.6458156109
0.2489444094
0
0
0
0
0
0
0.0240316091
0.0011197247
4.158106E-06
0
0.0011155666
0
0
4.277887E-07
4.277887E-07
0.0759396577
0.0041527186
0.0800923763
0.3541843891
1
0.0923458474
0.3946148067
0.0050887399
0.0003808065
0.0193772178
0.0003391203
0
0.0674257126
0.005453596
0.0002593231
0.0002162753
0.0009337906
0.0007239933
0.1001985754
0.0036345088
0.0077632089
1.890459E-05
0
0
0.0015058102
0.0015247148
0.0200330521
0.0093654927
0.0057422433
0.0351407881
0.6352224501
0.205577166
0
0
0
0
0
0
0.205577166
0.8407996161
0.0073335208
0.0073335208
0.0064653114
0
0.0030685737
0.062240603
0.062240603
0.0800923751
0.1592003839
1
2004 2005
total activo corriente 85% 88%
total activo no corriente 15% 12%
100% 100%
2004 2005
CLIENTES $ 16,595,134 $ 23,805,987
PROPIEDAD PLANTA Y EQU $ 1,970,750 $ 2,557,055
PROVEEDORES $ 13,516,638 $ 19,679,377
$350,000,000
$300,000,000
$250,000,000
$200,000,000
$150,000,000
$100,000,000
$50,000,000
$-
2004 2005 2006 2007 20
$200,000,000
$150,000,000
$100,000,000
$50,000,000
$-
2004 2005 2006 2007 20
2004 2005
TOTAL ACTIVO CORRIENTE $ 32,395,780 $ 52,905,611
TOTAL ACTIVO NO CORRIEN$ 5,657,331 $ 7,070,014
TOTAL ACTIVOS $ 38,053,111 $ 59,975,625
$900,000,000
$800,000,000
$700,000,000
$600,000,000
$500,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$-
2004 2005 2006 2007
2006 2007 2008 2009 2010
89% 87% 77% 89% 75%
11% 13% 23% 11% 25%
100% 100% 100% 100% 100%
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2006 2007 2008 2009 2010

$ 41,558,982 $ 47,493,485 $ 45,750,324 $ 134,724,024 $ 162,710,728
$ 3,416,369 $ 6,217,641 $ 6,889,175 $ 7,165,737 $ 2,781,805
$ 23,221,884 $ 30,262,237 $ 37,462,685 $ 84,518,185 $ 90,670,760
$350,000,000
$300,000,000
$250,000,000
$200,000,000
CLIENTES
PROPIEDAD PLANTA
$150,000,000
PROVEEDORES
$100,000,000
$50,000,000
$-
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
$200,000,000
CLIENTES
PROPIEDAD PLANTA
$150,000,000
PROVEEDORES
$100,000,000
$50,000,000
$-
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2006 2007 2008 2009 2010

$ 73,979,907 $ 91,546,896 $ 114,072,285 $ 269,623,237 $ 273,542,274
$ 8,705,779 $ 13,566,498 $ 34,795,749 $ 32,746,234 $ 90,013,085
$ 82,685,686 $ 105,113,394 $ 148,868,034 $ 302,369,471 $ 363,555,359
$900,000,000
$800,000,000
$700,000,000
$600,000,000
$500,000,000 TOTAL ACTIVO CO

TOTAL ACTIVO NO
$400,000,000
TOTAL ACTIVOS
$300,000,000
$200,000,000
$100,000,000
$-
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2011 2012 2013 2014 2015
94% 84% 90% 61% 0.6458156108618
6% 16% 10% 39% 0.3541843891382
100% 100% 100% 100% 100%
total activo corriente

total activo no corriente
2012 2013 2014 2015
2011 2012 2013 2014 2015

$ 255,863,257 $ 275,539,503 $ 278,809,621 $ 243,554,592 $ 290,628,343
$ 2,634,086 $ 3,530,038 $ 5,029,881 $ 8,948,304 $ 19,661,723
$ 137,959,694 $ 200,274,316 $ 193,495,723 $ 195,435,626 $ 322,858,407
CLIENTES
PROPIEDAD PLANTA Y EQUIPO
PROVEEDORES
014 2015
CLIENTES
PROPIEDAD PLANTA Y EQUIPO
PROVEEDORES
014 2015
2011 2012 2013 2014 2015

$ 445,254,753 $ 443,103,318 $ 452,849,493 $ 378,623,452 $ 528,381,084
$ 30,132,646 $ 86,457,591 $ 51,738,389 $ 241,493,927 $ 289,779,820
$ 475,387,399 $ 529,560,909 $ 504,587,882 $ 620,117,379 $ 818,160,904
TOTAL ACTIVO CORRIENTE

TOTAL ACTIVO NO CORRIENTE
TOTAL ACTIVOS
2014 2015
82%
18%
2004 2005
ACTIVO CORRIENTE $ 32,395,780 $ 52,905,611
PASIVO CORRIENTE $ 34,406,644 $ 48,781,345
Razón corriente 0.94 1.08
$600,000,000
$500,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$-
2004 2
2004 2005
ACTIVO CORRIENTE $ 32,395,780 $ 52,905,611
PASIVO CORRIENTE $ 34,406,644 $ 48,781,345
subtotal inventario $ 11,364,831 $ 17,745,744
Prueba acida 0.61 0.72
2004 2005
ACTIVO CORRIENTE $ 32,395,780.00 $ 52,905,611.00
PASIVO CORRIENTE $ 34,406,644.00 $ 48,781,345.00
KTM(capital de trabajo neto-$ 2,010,864.00 $ 4,124,266.00
600000000
500000000
400000000
300000000
200000000
100000000
0
1 2
2006 2007 2008
$ 73,979,907 $ 91,546,896 $ 114,072,285
$ 62,902,588 $ 64,382,208 $ 98,066,806
1.18 1.42 1.16
600,000,000
500,000,000
400,000,000
300,000,000
200,000,000
100,000,000
$-
2004 2005 2006 2007 2008 2009 2010 2
2006 2007 2008

$ 73,979,907 $ 91,546,896 $ 114,072,285
$ 62,902,588 $ 64,382,208 $ 98,066,806
$ 22,948,989 $ 28,180,068 $ 45,895,749
0.81 0.98 0.70
$600,000,000
$500,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$400,000,000
$300,000,000
$200,000,000
$100,000,000
$-
2004 2005 2006 2007 2008 2009 2010
2006 2007 2008

$ 73,979,907.00 $ 91,546,896.00 $ 114,072,285.00
$ 62,902,588.00 $ 64,382,208.00 $ 98,066,806.00
$ 11,077,319.00 $ 27,164,688.00 $ 16,005,479.00
600000000
500000000
400000000
300000000
200000000
100000000
0
1 2 3 4 5 6 7 8
2009 2010 2011
$ 269,623,237 $ 273,542,274 $ 445,254,753
$ 204,031,126 $ 192,052,221 $ 411,906,257
1.32 1.42 1.08
1.60
1.40
1.20
1.00
0.80
0.60
0.40
0.20
-
2008 2009 2010 2011 2012 2013 2014 2015
2009 2010 2011

$ 269,623,237 $ 273,542,274 $ 445,254,753
$ 204,031,126 $ 192,052,221 $ 411,906,257
$ 77,272,195 $ 63,252,288 $ 99,369,410
0.94 1.09 0.84
1.20
1.00
0.80
0.60
0.40
0.20
0.80
0.60
0.40
0.20
0.00
2007 2008 2009 2010 2011 2012 2013 2014 2015
2009 2010 2011

$ 269,623,237.00 $ 273,542,274.00 $ 445,254,753.00
$ 204,031,126.00 $ 192,052,221.00 $ 411,906,257.00
$ 65,592,111.00 $ 81,490,053.00 $ 33,348,496.00
160000000
140000000
120000000
100000000
80000000
60000000
40000000
20000000
-20000000
6 7 8 9 10 11 12 13
2012 2013 2014
$ 443,103,318 $ 452,849,493 $ 378,623,452
$ 362,582,577 $ 316,555,528 $ 309,008,469
1.22 1.43 1.23
1.60
1.40
1.20
1.00
ACTIVO CORRIENTE
0.80
PASIVO CORRIENTE
Razón corriente
0.60
0.40
0.20
-
2014 2015
2012 2013 2014

$ 443,103,318 $ 452,849,493 $ 378,623,452
$ 362,582,577 $ 316,555,528 $ 309,008,469
$ 169,586,570 $ 135,100,358 $ 124,690,979
0.75 1.00 0.82
1.20
1.00
0.80
ACTIVO CORRIENTE
0.60 PASIVO CORRIENTE
subtotal inventario
Prueba acida
0.40
0.20
0.80
ACTIVO CORRIENTE
0.60 PASIVO CORRIENTE
subtotal inventario
Prueba acida
0.40
0.20
0.00
13 2014 2015
2012 2013 2014

$ 443,103,318.00 $ 452,849,493.00 $ 378,623,452.00
$ 362,582,577.00 $ 316,555,528.00 $ 309,008,469.00
$ 80,520,741.00 $ 136,293,965.00 $ 69,614,983.00
160000000
140000000
120000000
100000000
80000000 ACTIVO CORRIENTE

60000000 PASIVO CORRIENTE
KTM(capital de trabajo neto)
40000000
20000000
-20000000
12 13
2015
$ 528,381,084
$ 519,714,174
1.02 1.21
2015
$ 528,381,084
$ 519,714,174
$ 187,751,012
0.66 0.83
2015
$ 528,381,084.00
$ 519,714,174.00
$ 8,666,910.00 $ 44,324,012.25
2004
1305 CLIENTES (ANEXO 8) $ 16,595,134.00
41 INGRESOS OPERACIONALES (ANEXO 1) $ 76,565,000.00
r. cxc 79.1121780186769
$1,200,000,000.00
$1,000,000,000.00
$800,000,000.00
$600,000,000.00
$400,000,000.00
$200,000,000.00
$-
2004 2005
COSTO DE VENTAS
subtotal inventario
Rotacion de inventario
1000000000
900000000
800000000
700000000
600000000
500000000
400000000
300000000
200000000
100000000
0
2
400000000
300000000
200000000
100000000
0
2
2004
22 PROVEEDORES $ 13,516,638.00
61 MENOS: COSTO DE VENTAS Y DE PRESTA$ 56,002,408.00
Rotacion de cuentas por pagar 88.0957274194352
$1,000,000,000.00
$900,000,000.00
$800,000,000.00
$700,000,000.00
$600,000,000.00
$500,000,000.00
$400,000,000.00
$300,000,000.00
$200,000,000.00
$100,000,000.00
$-
2004 2005 2006 2007 200
2004
ciclo operativo 84.0398718840763
ciclo efectivo 172.135599303512
TOTAL ACTIVO $ 38,053,111.00
Rotacion de activo 2.01205625474353
$1,200,000,000.00
$1,000,000,000.00
$800,000,000.00
$600,000,000.00
$400,000,000.00
$200,000,000.00
$-
2004 2005 2006 2
Total cuentas por cobrar $ 24,675.00
Rotacion de cartera 0.0003223
Días 8.82945728806E-07
Meses 2.68562659178E-05
1320 CUENTAS POR COBRAR A VINC

1325 CUENTAS POR COBRAR A SOC
1365 CUENTAS POR C
1325 CUENTAS POR COBRAR A SOC
1365 CUENTAS POR COBRAR A TRA
Total cuentas por cob
2005 2006 2007 2008
$ 23,805,987.00 $ 41,558,982.00 $ 47,493,485.00 $ 45,750,324.00
$ 124,171,248.00 $ 184,814,481.00 $ 249,416,524.00 $ 346,264,398.00
69.9774335440359 82.0770555852709 69.5027007312475 48.225773011755
00.00
00.00
00.00
00.00
00.00
00.00
$-
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
2004 2005 2006 2007

$ 56,002,408.00 $ 95,887,546.00 $ 146,924,005.00 $ 194,360,115.00
$ 11,364,831.00 $ 17,745,744.00 $ 22,948,989.00 $ 28,180,068.00
4.92769386539932 5.40341086854403 6.4021994607257 6.89707757270139
1000000000 10
900000000 9
800000000 8
700000000 7
600000000 6
COSTO DE VENTAS
500000000 5
subtotal inventario
400000000 4 Rotacion de invent
300000000 3
200000000 2
100000000 1
0 0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
400000000 4 Rotacion de invent
300000000 3
200000000 2
100000000 1
0 0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2005 2006 2007 2008

$ 19,679,377.00 $ 23,221,884.00 $ 30,262,237.00 $ 37,462,685.00
$ 95,887,546.00 $ 146,924,005.00 $ 194,360,115.00 $ 274,338,860.00
74.9103810102722 57.6896039554598 56.8311893878021 49.843029984888
140
120
100
80
60
40
20
0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2005 2006 2007 2008

75.3808444125799 88.4792550459966 76.3997783039489 54.2032080896748
150.291225422852 146.168859001456 133.230967691751 104.046238074563
$ 124,171,248.00 $ 184,814,481.00 $ 249,416,524.00 $ 346,264,398.00
$ 59,975,625.00 $ 82,685,686.00 $ 105,113,394.00 $ 148,868,034.00
2.07036188451558 2.23514479882286 2.37283294267903 2.32598220515225
250
200 41
ciclo
150
Rot
100
50
0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
$ 124,171,248.00 $ 184,814,481.00 $ 249,416,524.00 $ 346,264,398.00
$ 15,801.00 $ 72,003.00 $ 232,579.00 $ 186,746.00
0.0001273 0.0003896 0.0009325 0.0005393
3.486347415861E-07 1.067386560205E-06 2.554773555124E-06 1.477578635481E-06
1.060430672324E-05 3.246634120624E-05 7.770769563501E-05 4.49430168292E-05
$1,200,000,000.00
Rotacion de cartera
$1,000,000,000.00
$800,000,000.00
$600,000,000.00
$400,000,000.00
$200,000,000.00
$-
1 2 3 4 5 6 7
41 INGRESOS OPERACIONALES (ANEXO 1) Total cuentas por cobr
2004 2005 2006 2007

NTAS POR COBRAR A VINCULADOS ECONÓMICOS (CP)
NTAS POR COBRAR A SOCIOS Y ACCIONISTAS (CP)
24675 15801 72003 232579
NTAS POR COBRAR A SOCIOS Y ACCIONISTAS
NTAS POR COBRAR A TRABAJADORES
24675 15801 72003 232579
2009 2010 2011 2012
$ 134,724,024.00 $ 162,710,728.00 $ 255,863,257.00 $ 275,539,503.00
$ 512,851,555.00 $ 722,325,624.00 $ 689,913,594.00 $ 862,323,601.00
95.88402000653 82.2197271517534 135.364906007346 116.628976034485
160
140
120
100
1305 CLIENTES (ANEXO 8)
80
41 INGRESOS OPERACIONALES (ANEXO 1)
60 r. cxc
40
20
0
1 2012 2013 2014 2015
2008 2009 2010 2011

$ 274,338,860.00 $ 417,058,757.00 $ 598,313,137.00 $ 574,970,006.00
$ 45,895,749.00 $ 77,272,195.00 $ 63,252,288.00 $ 99,369,410.00
5.97743507791974 5.39726815059414 9.45915406253763 5.78618717772401
10
9
8
7
6
COSTO DE VENTAS
5
subtotal inventario
4 Rotacion de inventario
3
2
1
0
014 2015
4 Rotacion de inventario
3
2
1
0
014 2015
2009 2010 2011 2012

$ 84,518,185.00 $ 90,670,760.00 $ 137,959,694.00 $ 200,274,316.00
$ 417,058,757.00 $ 598,313,137.00 $ 574,970,006.00 $ 690,967,909.00
73.9683246238611 55.3135563192556 87.5789828765433 105.793806612226
140
120
100 22 PROVEEDORES
80
61 MENOS: COSTO DE VENTAS Y DE PRESTACIÓN DE SERVICIOS (ANEXO 2)
60
40 Rotacion de cuentas por pagar
20
0
014 2015
2009 2010 2011 2012

101.281288157124 91.678881214291 141.15109318507 120.703401910308
175.249612780985 146.992437533547 228.730076061613 226.497208522534
$ 512,851,555.00 $ 722,325,624.00 $ 689,913,594.00 $ 862,323,601.00
$ 302,369,471.00 $ 363,555,359.00 $ 475,387,399.00 $ 529,560,909.00
1.69610891372033 1.98683805950994 1.45126605259472 1.62837472771239
250
200 41 INGRESOS OPERACIONALES (ANEXO 1) TOTAL ACTIVO
ciclo operativo ciclo efectivo

150
Rotacion de activo
100
50
0
2014 2015
$ 512,851,555.00 $ 722,325,624.00 $ 689,913,594.00 $ 862,323,601.00
$ 7,310,417.00 $ 10,689,893.00 $ 10,331,282.00 $ 10,311,239.00
0.0142545 0.0147993 0.0149747 0.0119575
3.905328848233E-05 4.054594923548E-05 4.102670600774E-05 3.276028840015E-05
0.001187870858004 0.001233272622579 0.001247895641069 0.000996458772171
0.0160000
Rotacion de cartera
0.0140000
0.0120000
0.0100000
0.0080000
0.0060000
0.0040000
0.0020000
-
5 6 7 8 9 10 11 12
ONALES (ANEXO 1) Total cuentas por cobrar Rotacion de cartera
2008 2009 2010 2011

4944 94174 94174
7161140 10159453
186746 144333 77655
10485388
110331
186746 7310417 10689893 10331282
2013 2014 2015
$ 278,809,621.00 $ 243,554,592.00 $ 290,628,343.00
$ 962,772,073.00 $ 902,506,382.00 $ 1,099,557,460.00
105.700523019845 98.5006065918324 96.4745809600528 89.9723733885692 Días
ES (ANEXO 1)
2012 2013 2014 2015

$ 690,967,909.00 $ 801,458,170.00 $ 791,241,711.00 $ 922,777,618.00
$ 169,586,570.00 $ 135,100,358.00 $ 124,690,979.00 $ 187,751,012.00
4.0744258758226 5.93231714456301 6.34562112949646 4.91490090077384 5.959807607
2013 2014 2015
$ 193,495,723.00 $ 195,435,626.00 $ 322,858,407.00
$ 801,458,170.00 $ 791,241,711.00 $ 922,777,618.00
88.1218029070687 90.1545033563075 127.70500308667 79.6671592949824 Días
VICIOS (ANEXO 2)
2013 2014 2015

111.632840164408 104.846227721329 101.389481860827
199.754643071476 195.000731077636 229.094484947497
$ 962,772,073.00 $ 902,506,382.00 $ 1,099,557,460.00
$ 504,587,882.00 $ 620,117,379.00 $ 818,160,904.00
1.90803645379657 1.45537992090365 1.34393791566457 1.87386001081795
ACTIVO
ectivo
$ 962,772,073.00 $ 902,506,382.00 $ 1,099,557,460.00
$ 10,291,573.00 $ 71,822.00 $ 61,667.00
0.0106895 0.0000796 0.0000561 0.005760
2.928636091728E-05 2.180290429677E-07 1.53653347894622E-07
0.000890793477901 6.631716723602E-06 4.67362266512808E-06
0.0160000
0.0140000
0.0120000
0.0100000
0.0080000
0.0060000
0.0040000
0.0020000
-
12
2012 2013 2014 2015

94174 44174 44174 44174
10159453 10159453
57612 87946 27648 17493
10311239 10291573 71822 61667
2004
UTILIDAD BRUTA $ 20,562,592.00
41 INGRESOS OPER $ 76,565,000.00
MARGENBRUTO 0.268563860771893
2004
UTILIDAD OPERAC $ 5,032,886.00
41 INGRESOS OPER $ 76,565,000.00
Margen operaciona0.065733507477307
2004
UTILIDAD NETA $ 4,225,393.00
41 INGRESOS OPER $ 76,565,000.00
Margen neto 0.055187004505975
2004
GANANCIAS Y PER $ 4,225,393.00
TOTAL PATRIMONI $ 2,605,455.00
ROE 1.62174860053234
2004
GANANCIAS Y PER $ 4,225,393.00
TOTAL ACTIVO $ 38,053,111.00
ROA 0.111039357596807
2004
MENOS: GASTOS O$ 11,435,363.00
GASTOS OPERACIO $ 4,094,343.00
GASTOS NO OPERA$ 2,981,739.00
Gasto Financieros $ 18,511,445.00
2005 2006 2007 2008
$ 28,283,702.00 $ 37,890,476.00 $ 55,056,409.00 $ 71,925,538.00
$ 124,171,248.00 $ 184,814,481.00 $ 249,416,524.00 $ 346,264,398.00
0.227779799716598 0.205018977923056 0.220740823891844 0.207718548067422
$1,200,000,000.00
$1,000,000,000.00
$800,000,000.00
$600,000,000.00
$400,000,000.00
$200,000,000.00
$-
2004 2005 2006 2007 2008 2009 2010
2005 2006 2007 2008

$ 12,553,326.00 $ 11,803,112.00 $ 20,776,905.00 $ 21,674,123.00
$ 124,171,248.00 $ 184,814,481.00 $ 249,416,524.00 $ 346,264,398.00
0.101096881944844 0.063864649220858 0.083302038961942 0.062594142294698
$1,200,000,000.00
$1,000,000,000.00
$800,000,000.00
$600,000,000.00
$400,000,000.00
$200,000,000.00
$-
2004 2005 2006 2007 2008 2009 2010 2011 2
-$200,000,000.00
$400,000,000.00
$200,000,000.00
$-
2004 2005 2006 2007 2008 2009 2010 2011 2
-$200,000,000.00
2005 2006 2007 2008

$ 8,856,768.00 $ 6,022,289.00 $ 11,445,099.00 $ 9,739,691.00
$ 124,171,248.00 $ 184,814,481.00 $ 249,416,524.00 $ 346,264,398.00
0.071327043439235 0.032585590519825 0.045887493003471 0.028127901846843
$1,200,000,000.00
$1,000,000,000.00
$800,000,000.00
$600,000,000.00
$400,000,000.00
$200,000,000.00
$-
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20
2005 2006 2007 2008

$ 8,856,768.00 $ 6,022,289.00 $ 11,445,099.00 $ 9,739,691.00
$ 9,153,268.00 $ 15,742,086.00 $ 28,983,747.00 $ 43,861,432.00
0.967607197778979 0.382559782737815 0.394879895963762 0.222055928315336
$140,000,000.00
$120,000,000.00
$100,000,000.00
$80,000,000.00
$60,000,000.00
$40,000,000.00
$20,000,000.00
$-
$60,000,000.00
$40,000,000.00
$20,000,000.00
$-
2004 2005 2006 2007 2008 2009 2010 2011 2012
2005 2006 2007 2008

$ 8,856,768.00 $ 6,022,289.00 $ 11,445,099.00 $ 9,739,691.00
$ 59,975,625.00 $ 82,685,686.00 $ 105,113,394.00 $ 148,868,034.00
0.147672792071779 0.072833513166959 0.108883355055589 0.065424999164025
$900,000,000.00
$800,000,000.00
$700,000,000.00
$600,000,000.00
$500,000,000.00
$400,000,000.00
$300,000,000.00
$200,000,000.00
$100,000,000.00
$-
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
2005 2006 2007 2008

$ 10,024,606.00 $ 16,349,231.00 $ 19,284,870.00 $ 32,649,573.00
$ 5,705,770.00 $ 9,738,133.00 $ 14,994,634.00 $ 17,601,842.00
$ 4,574,974.00 $ 6,708,547.00 $ 11,334,167.00 $ 19,851,634.00
$ 20,305,350.00 $ 32,795,911.00 $ 45,613,671.00 $ 70,103,049.00
2009 2010 2011 2012
$ 95,792,798.00 $ 124,012,487.00 $ 114,943,588.00 $ 171,355,692.00
$ 512,851,555.00 $ 722,325,624.00 $ 689,913,594.00 $ 862,323,601.00
0.186784649604894 0.171685016950195 0.166605773534012 0.198713907170447
0.3
0.25
0.2
UTILIDAD BRUTA
0.15
41 INGRESOS OPERACIONALE
MARGENBRUTO
0.1
0.05
0
6 2007 2008 2009 2010 2011 2012 2013 2014 2015
2009 2010 2011 2012

$ 33,652,237.00 $ 31,269,941.00 $ 10,629,437.00 $ 18,230,822.00
$ 512,851,555.00 $ 722,325,624.00 $ 689,913,594.00 $ 862,323,601.00
0.065617890151469 0.04329064338994 0.015406910506535 0.021141508801172
0.12
0.1
0.08
0.06
UTILIDAD OPERACIONAL
0.04 41 INGRESOS OPERACIONALES (ANEXO 1)
Margen operacional
0.02
-0.02
07 2008 2009 2010 2011 2012 2013 2014 2015
-0.04
Margen operacional
0.02
-0.02
07 2008 2009 2010 2011 2012 2013 2014 2015
-0.04
2009 2010 2011 2012

$ 10,095,140.00 $ 9,163,915.00 $ 4,582,228.00 $ 5,252,691.00
$ 512,851,555.00 $ 722,325,624.00 $ 689,913,594.00 $ 862,323,601.00
0.019684331463127 0.012686681318674 0.006641741864272 0.006091322322512
0.08
0.07
0.06
0.05
UTILIDAD NETA
0.04
Margen neto
0.03
0.02
0.01
0
09 2010 2011 2012 2013 2014 2015
2009 2010 2011 2012

$ 10,095,140.00 $ 9,163,915.00 $ 4,582,228.00 $ 5,252,691.00
$ 41,657,383.00 $ 57,339,580.00 $ 63,481,142.00 $ 79,928,862.00
0.242337354701326 0.159818313981372 0.072182507365731 0.065717074765809
1.8
1.6
1.4
1.2
1
GANANCIAS Y PERDIDAS
TOTAL PATRIMONIO
0.8
ROE
0.6
0.4
0.2
0
TOTAL PATRIMONIO
0.8
ROE
0.6
0.4
0.2
0
2009 2010 2011 2012 2013 2014 2015
2009 2010 2011 2012

$ 10,095,140.00 $ 9,163,915.00 $ 4,582,228.00 $ 5,252,691.00
$ 302,369,471.00 $ 363,555,359.00 $ 475,387,399.00 $ 529,560,909.00
0.033386770055235 0.025206381292814 0.009638934497715 0.009918955328328
0.16
0.14
0.12
0.1
TOTAL ACTIVO
0.08
0.06 ROA
0.04
0.02
0
2010 2011 2012 2013 2014 2015
2009 2010 2011 2012

$ 36,728,984.00 $ 55,838,147.00 $ 68,595,464.00 $ 111,471,541.00
$ 25,411,577.00 $ 36,904,399.00 $ 35,718,687.00 $ 41,653,329.00
$ 34,931,348.00 $ 58,014,525.00 $ 40,953,022.00 $ 45,511,718.00
$ 97,071,909.00 $ 150,757,071.00 $ 145,267,173.00 $ 198,636,588.00
2013 2014 2015
$ 161,313,903.00 $ 111,264,671.00 $ 176,779,842.00
$ 962,772,073.00 $ 902,506,382.00 $ 1,099,557,460.00
0.167551497933821 0.12328408221716 0.160773627964836 0.192101714
0.3
0.25
0.2
UTILIDAD BRUTA
0.15
MARGENBRUTO
0.1
0.05
2013 2014 2015

$ 4,086,084.00 -$ 18,106,808.00 $ 51,765,236.00
$ 962,772,073.00 $ 902,506,382.00 $ 1,099,557,460.00
0.004244082389374 -0.02006280327888 0.047078245460678 0.046108975
UTILIDAD OPERACIONAL
Margen operacional
Margen operacional
2013 2014 2015

$ 4,461,141.00 $ 2,924,614.00 $ 2,510,587.00
$ 962,772,073.00 $ 902,506,382.00 $ 1,099,557,460.00
0.004633641881717 0.003240546613664 0.00228327039862 0.024031381
IONALES (ANEXO 1)
2013 2014 2015

$ 4,461,141.00 $ 2,924,614.00 $ 2,510,587.00
$ 83,453,675.00 $ 127,740,944.00 $ 130,251,530.00
0.053456495474885 0.022894883256852 0.01927491369967 0.352044412
NANCIAS Y PERDIDAS
AL PATRIMONIO
NANCIAS Y PERDIDAS
AL PATRIMONIO
2013 2014 2015

$ 4,461,141.00 $ 2,924,614.00 $ 2,510,587.00
$ 504,587,882.00 $ 620,117,379.00 $ 818,160,904.00
0.008841157624154 0.004716226474279 0.00306857366042 0.050052585
2013 2014 2015

$ 103,784,253.00 $ 62,878,034.00 $ 46,802,557.00
$ 53,443,566.00 $ 66,493,445.00 $ 78,212,049.00
$ 44,883,779.00 $ 46,956,584.00 $ 91,615,648.00
$ 202,111,598.00 $ 176,328,063.00 $ 216,630,254.00
2004 2005
TOTAL ACTIVO 38053111 59975625
TOTAL PASIVO 35447656 50822357
INDICE DE ENDEUDAMIENTO 1.073501475 1.180103178
900000000
800000000
700000000
600000000
500000000
400000000
300000000
200000000
100000000
0
2004 2005 2006 2007 2008 200
2004 2005
OBLIGACIONES FINANCIERAS 11505323 15257248
INGRESOS OPERACIONALES 76565000 124171248
ENDEUDAMIENTO FINANCIERO 0.1502687 0.122872632
1200000000
1000000000
800000000
600000000
400000000
200000000
0
2004 2005 2006 2007 2008 2009
400000000
200000000
0
2004 2005 2006 2007 2008 2009
2004 2005
Ingresos operaciones 76565000 124171248
Gasto Financieros 18511445 20305350
IMPACTO CARGA FINANCIERA 4.136089862 6.115198605
1200000000
1000000000
800000000
600000000
400000000
200000000
0
2004 2005 2006 2007 2008 2009
2004 2005
TOTAL PASIVO CORRIENTE 34406644 48781345
TOTAL PASIVO 35447656 50822357
CONCENTRACION DE LA DEUDA 0.970632416 0.959840273
800000000
700000000
600000000
500000000
400000000
300000000
200000000
600000000
500000000
400000000
300000000
200000000
100000000
0
2004 2005 2006 2007
2004 2005
TOTAL PASIVO 35447656 50822357
TOTAL PATRIMONIO 2605455 9153268
LERVERAGE TOTAL 13.60516915 5.552372879
800000000
700000000
600000000
500000000
400000000
300000000
200000000
100000000
0
2004 2005 2006 2007 2008
2004 2005
TOTAL ACTIVO 38053111 59975625
TOTAL PATRIMONIO 2605455 9153268
APALANCAMIENTO FINANCIERO 14.60516915 6.552372879
900000000
800000000
700000000
600000000
500000000
400000000
300000000
200000000
100000000
0
600000000
500000000
400000000
300000000
200000000
100000000
0
2006 2007 2008 2009 2010 2011 2012 2013
82685686 105113394 148868034 302369471 363555359 475387399 529560909 504587882
66943600 76129647 105006602 260712088 306215779 411906257 449632047 421134207
1.235154458 1.380715636 1.41770166 1.15978309 1.187252206 1.154115508 1.177765047 1.198164085
1.6
1.4
1.2
1
TOTAL ACTIVO
0.8
TOTAL PASIVO
0.6 INDICE DE ENDEUDAMIENTO
0.4
0.2
0
006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2006 2007 2008 2009 2010 2011 2012 2013

25466781 18539931 28569560 53257660 66329736 151994102 66058570 22603439
184814481 249416524 346264398 512851555 722325624 689913594 862323601 962772073
0.137796459 0.074333211 0.082507934 0.103846151 0.091828026 0.220308896 0.076605314 0.023477456
0.25
0.2
0.15
OBLIGACIONES FINANCIERAS
INGRESOS OPERACIONALES
0.1 ENDEUDAMIENTO FINANCIERO
0.05
0
06 2007 2008 2009 2010 2011 2012 2013 2014 2015
INGRESOS OPERACIONALES
0.1 ENDEUDAMIENTO FINANCIERO
0.05
0
06 2007 2008 2009 2010 2011 2012 2013 2014 2015
2006 2007 2008 2009 2010 2011 2012 2013

184814481 249416524 346264398 512851555 722325624 689913594 862323601 962772073
32795911 45613671 70103049 97071909 150757071 145267173 198636588 202111598
5.635290357 5.468021287 4.93936288 5.283212829 4.791321689 4.749273905 4.34121231 4.763566676
4
Ingresos operaciones
Gasto Financieros
3 IMPACTO CARGA FINANCIERA
0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2006 2007 2008 2009 2010 2011 2012 2013

62902588 64382208 98066806 204031126 192052221 411906257 362582577 316555528
66943600 76129647 105006602 260712088 306215779 411906257 449632047 421134207
0.939635574 0.845691666 0.93391086 0.782591738 0.627179375 1 0.80639843 0.751673749
1.2
0.8
TOTAL PASIVO CORRIENTE

0.6
TOTAL PASIVO
CONCENTRACION DE LA DEUDA
0.4
0.8
TOTAL PASIVO CORRIENTE

0.6
TOTAL PASIVO
CONCENTRACION DE LA DEUDA
0.4
0.2
0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2006 2007 2008 2009 2010 2011 2012 2013

66943600 76129647 105006602 260712088 306215779 411906257 449632047 421134207
15742086 28983747 43861432 41657383 57339580 63481142 79928862 83453675
4.252524094 2.626632333 2.394053208 6.258484552 5.340391035 6.488639681 5.625402836 5.046323089
16
14
12
10
TOTAL PASIVO
8
TOTAL PATRIMONIO
6 LERVERAGE TOTAL
4
2
0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
2006 2007 2008 2009 2010 2011 2012 2013

82685686 105113394 148868034 302369471 363555359 475387399 529560909 504587882
15742086 28983747 43861432 41657383 57339580 63481142 79928862 83453675
5.252524094 3.626632333 3.394053208 7.258484552 6.340391035 7.488639681 6.625402836 6.046323089
0000 16
0000 14
0000 12
0000
10
0000
8 TOTAL ACTIVO
0000
6 TOTAL PATRIMONIO
0000 APALANCAMIENTO FINANCIERO
0000 4
0000 2
0 0
0000
10
0000
8 TOTAL ACTIVO
0000
6 TOTAL PATRIMONIO
0000 APALANCAMIENTO FINANCIERO
0000 4
0000 2
0 0
2014 2015
620117379 818160904
492376435 687909374
1.259437566 1.189344025 1.217753161
2014 2015
10305797 75553762
902506382 1099557460
0.011419085 0.068712882 0.096998062
2014 2015
902506382 1099557460
176328063 216630254
5.11833662 5.075733605 5.034718385
2014 2015
309008469 519714174
492376435 687909374
0.627585821 0.755498026 0.833386494
VO CORRIENTE
VO
ACION DE LA DEUDA
VO CORRIENTE
VO
ACION DE LA DEUDA
2014 2015
492376435 687909374
127740944 130251530
3.854491908 5.281391888 5.527156388
2014 2015
620117379 818160904
127740944 130251530
4.854491908 6.281391888 6.527156388

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Formulario

Cuenta 2004 2005 2006

1330 ANTICIPOS Y AVANCES (CP) $417.760 $130.816 $334.317

1345 INGRESOS POR COBRAR (CP)

1355 ANTICIPO DE IMPTOS. Y

1360 RECLAMACIONES (CP)

Generado: 1/21/2020 12:50:35 PM

Generado: 1/21/2020 12:50:35 PM

$359.026 $499.495 $816.865 $358.136

$9,168.897 $13,271.912 $20,977.917 $44,414.258

$99.021 $55.835 $52.920 $0.334

$232.579 $186.746 $144.333

$474.370 $4,691.019 $30,550.003

Generado: 1/21/2020 12:50:35 PM

$2,588.514 $5,514.229 $20,179.274 $10,141.578

Generado: 1/21/2020 12:50:35 PM

$64,382.208 $98,066.806 $204,031.126 $192,052.221

Generado: 1/21/2020 12:50:35 PM

$10,159.453 $10,159.453 $10,159.453

$20,167.270 $422.784 $5,534.303 $1,662.634

$1,522.513 $1,518.037 $2,676.526 $14,588.400

$43,629.408 $6,020.794 $15,341.128 $19,047.449

$44.516 $35.318 $185.137

$77.655 $57.612 $87.946 $27.648

$23,900.423 $15,940.092 $7,564.451 $886.535

Generado: 1/21/2020 12:50:35 PM

$2,634.086 $3,530.038 $5,029.881 $8,948.304

$8,998.326 $31,331.169 $53,666.416

Generado: 1/21/2020 12:50:35 PM

$15,289.044 $29,534.665 $19,509.479 $4,421.375

$87,049.470 $104,578.679 $183,367.966

$4,582.228 $5,252.691 $4,461.141 $2,924.614

Generado: 1/21/2020 12:50:35 PM

$0.000 $0.000 $0.000

Generado: 1/21/2020 12:50:35 PM

Generado: 1/21/2020 12:50:35 PM

Generado: 1/21/2020 12:50:35 PM

$0.000 $7,161.140 ($7,161.140) $10,159.453 $0.000

$0.000 $928.385 $1,060.675 ($466.547) ($4.476)

$4,103.015 $7,706.005 $23,436.341 ($784.850) ($37,608.614)

($43.186) ($2.915) ($52.586) ($0.334) $44.516

($45.833) ($42.413) ($144.333) $77.655 ($20.043)

Generado: 1/21/2020 12:50:35 PM

Generado: 1/21/2020 12:50:35 PM

Generado: 1/21/2020 12:50:35 PM

$0.000 ($10,159.453) $0.000

$1,158.489 $11,911.874 ($3,472.199)

$9,320.334 $3,706.321 $16,351.100

($9.198) $149.819 $40.803

$30.334 ($60.298) ($10.155)

Generado: 1/21/2020 12:50:35 PM

Generado: 1/21/2020 12:50:35 PM

Generado: 1/21/2020 12:50:35 PM

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!

116% 30% 44% 45%

#DIV/0! #DIV/0! #DIV/0! -44%

-36% 356% 223% -20%