RESUMEN GENERAL DE INFORMACIÓN

VARIABLES GENERALES
Depreciación:
Construcción obras civiles 10 Años
Factor Prestacional 62.0% Anual
Impuestos 33% Anual
Renta Presuntiva 4% Anual
Tasa de oportunidad 22% Anual
Ingresos por tasa aeroportuaria 80%
Ingresos por arriendo locales 10%
Ingreso por parqueaderos aeronaves 10%
Comisión aerolíneas 4.5% Sobre tasa
Comisión aeronáutica 46% Sobre ingresos
Pasajeros mes 800,000
Crecimiento junio 25%
Crecimiento diciembre 32%
Tasa pasajero US$ 15
Inversión Inicial 650,000,000
Porcentaje de financiación 70%
Tasa de financiación 13.50% EA
Plazo 25 Años
Costo de operador 600,000 Por mes
Porcentaje gastos de administración 5% De los ingresos

VISITANTES PRIMER AÑO

Enero 800,000
Febrero 800,000
Marzo 800,000
Abril 800,000
Mayo 800,000
Junio 1,000,000
Julio 800,000
Agosto 800,000
Septiembre 800,000
Octubre 800,000
Noviembre 800,000
Diciembre 1,056,000
Total pasajeros primer año 10,056,000

VARIABLES 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Inflación Colombia 2.00% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%
Crecimiento pasajeros 0.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Crecimiento tasa 0.00% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50%
Crecimiento costo operador 0.00% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50%
 INGRESOS 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Pasajeros 10,056,000 11,061,600 12,167,760 13,384,536 14,722,990 16,195,289 17,814,817 19,596,299 21,555,929 23,711,522 26,082,674 28,690,942 31,560,036 34,716,039 38,187,643 42,006,408 46,207,048 50,827,753 55,910,529 61,501,581 67,651,739 74,416,913 81,858,605 90,044,465 99,048,912
Tasa aeroportuaria 15.00 15.38 15.76 16.15 16.56 16.97 17.40 17.83 18.28 18.73 19.20 19.68 20.17 20.68 21.19 21.72 22.27 22.82 23.39 23.98 24.58 25.19 25.82 26.47 27.13
Ingresos generados por Tasa 150,840,000 170,072,100 191,756,293 216,205,220 243,771,386 274,852,237 309,895,898 349,407,624 393,957,097 444,186,626 500,820,421 564,675,025 636,671,091 717,846,655 809,372,103 912,567,046 1,028,919,345 1,160,106,561 1,308,020,148 1,474,792,717 1,662,828,788 1,874,839,459 2,113,881,490 2,383,401,380 2,687,285,055

Ingresos generados por Locales 18,855,000 21,259,013 23,969,537 27,025,653 30,471,423 34,356,530 38,736,987 43,675,953 49,244,637 55,523,328 62,602,553 70,584,378 79,583,886 89,730,832 101,171,513 114,070,881 128,614,918 145,013,320 163,502,518 184,349,090 207,853,599 234,354,932 264,235,186 297,925,172 335,910,632
Ingresos generados por Parqueadero 18,855,000 21,259,013 23,969,537 27,025,653 30,471,423 34,356,530 38,736,987 43,675,953 49,244,637 55,523,328 62,602,553 70,584,378 79,583,886 89,730,832 101,171,513 114,070,881 128,614,918 145,013,320 163,502,518 184,349,090 207,853,599 234,354,932 264,235,186 297,925,172 335,910,632
Total Ingresos otros conceptos 37,710,000 42,518,025 47,939,073 54,051,305 60,942,846 68,713,059 77,473,974 87,351,906 98,489,274 111,046,657 125,205,105 141,168,756 159,167,773 179,461,664 202,343,026 228,141,762 257,229,836 290,026,640 327,005,037 368,698,179 415,707,197 468,709,865 528,470,372 595,850,345 671,821,264

Total Ingresos 188,550,000 212,590,125 239,695,366 270,256,525 304,714,232 343,565,297 387,369,872 436,759,531 492,446,371 555,233,283 626,025,527 705,843,781 795,838,863 897,308,318 1,011,715,129 1,140,708,808 1,286,149,181 1,450,133,202 1,635,025,185 1,843,490,896 2,078,535,985 2,343,549,323 2,642,351,862 2,979,251,724 3,359,106,319
COSTOS Y GASTOS DE OPERACIÓN 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Cobro aerolíneas 6,787,800 7,653,245 8,629,033 9,729,235 10,969,712 12,368,351 13,945,315 15,723,343 17,728,069 19,988,398 22,536,919 25,410,376 28,650,199 32,303,099 36,421,745 41,065,517 46,301,371 52,204,795 58,860,907 66,365,672 74,827,295 84,367,776 95,124,667 107,253,062 120,927,827
Cobro Aeronáutica 69,386,400 78,233,166 88,207,895 99,454,401 112,134,837 126,432,029 142,552,113 160,727,507 181,220,264 204,325,848 230,377,394 259,750,512 292,868,702 330,209,461 372,311,168 419,780,841 473,302,899 533,649,018 601,689,268 678,404,650 764,901,243 862,426,151 972,385,485 1,096,364,635 1,236,151,125
Costo Operador 7,200,000 7,452,000 7,712,820 7,982,769 8,262,166 8,551,341 8,850,638 9,160,411 9,481,025 9,812,861 10,156,311 10,511,782 10,879,694 11,260,484 11,654,601 12,062,512 12,484,699 12,921,664 13,373,922 13,842,009 14,326,480 14,827,907 15,346,883 15,884,024 16,439,965
Gastos administración y servicios 9,427,500 10,629,506 11,984,768 13,512,826 15,235,712 17,178,265 19,368,494 21,837,977 24,622,319 27,761,664 31,301,276 35,292,189 39,791,943 44,865,416 50,585,756 57,035,440 64,307,459 72,506,660 81,751,259 92,174,545 103,926,799 117,177,466 132,117,593 148,962,586 167,955,316
Total costos y gastos 92,801,700 103,967,917 116,534,516 130,679,231 146,602,427 164,529,986 184,716,560 207,449,238 233,051,677 261,888,771 294,371,900 330,964,859 372,190,538 418,638,460 470,973,269 529,944,310 596,396,428 671,282,138 755,675,356 850,786,876 957,981,817 1,078,799,299 1,214,974,629 1,368,464,307 1,541,474,234
 INVERSIONES 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
INV. FIJAS - ACTIVOS FIJOS
Activos no depreciables
Terrenos
Activos Depreciables
Construcciones y obras civiles 634,533,050
Maquinaria y equipo
Muebles y enseres
Hardware
Total activos fijos 634,533,050 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

INV. DIFERIDAS - ACT. INTANGIBLES

Estudios de evaluación
Gastos de organización
Gastos de montaje
Gastos de instalación, pruebas y puesta en marcha
Total inversiones diferidas 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

CAPITAL DE TRABAJO
Capital de Trabajo 15,466,950
Total capital de trabajo 15,466,950 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
FLUJO DE INVERSIÓN 650,000,000 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
 CUADRO DE AMORTIZACION CREDITO

Capital 455,000,000 (incluye Inversion Activos y el Capital Trabajo)

Plazo 25 Años Valores Tasa Participacion
Plazo 50 Semestres Recursos propios 195,000,000 22% 30%
Tasa 13.5% Anual Prestamos 455,000,000 13.5% 70%
Tasa mes 6.536% Semestral 650,000,000 WACC 16.05%
Cuota $31,050,212 Semestral

Perido Saldo Inicial Intereses Cuota Amortizacion Saldo Final Fecha Año
0 455,000,000 31-Dec-10 2010
1 455,000,000 29,740,523 31,050,212 1,309,689 453,690,311 30-Jun-11 2011
2 453,690,311 29,654,917 31,050,212 1,395,295 452,295,017 31-Dec-11 2011
3 452,295,017 29,563,715 31,050,212 1,486,497 450,808,520 30-Jun-12 2012
4 450,808,520 29,466,552 31,050,212 1,583,660 449,224,861 31-Dec-12 2012
5 449,224,861 29,363,038 31,050,212 1,687,174 447,537,687 30-Jun-13 2013
6 447,537,687 29,252,758 31,050,212 1,797,454 445,740,234 31-Dec-13 2013
7 445,740,234 29,135,270 31,050,212 1,914,942 443,825,292 30-Jun-14 2014
8 443,825,292 29,010,102 31,050,212 2,040,110 441,785,182 31-Dec-14 2014
9 441,785,182 28,876,753 31,050,212 2,173,459 439,611,723 30-Jun-15 2015
10 439,611,723 28,734,687 31,050,212 2,315,525 437,296,198 31-Dec-15 2015
11 437,296,198 28,583,336 31,050,212 2,466,876 434,829,322 30-Jun-16 2016
12 434,829,322 28,422,091 31,050,212 2,628,120 432,201,201 31-Dec-16 2016
13 432,201,201 28,250,308 31,050,212 2,799,904 429,401,297 30-Jun-17 2017
14 429,401,297 28,067,295 31,050,212 2,982,917 426,418,380 31-Dec-17 2017
15 426,418,380 27,872,320 31,050,212 3,177,891 423,240,489 30-Jun-18 2018
16 423,240,489 27,664,601 31,050,212 3,385,610 419,854,878 31-Dec-18 2018
17 419,854,878 27,443,305 31,050,212 3,606,907 416,247,972 30-Jun-19 2019
18 416,247,972 27,207,544 31,050,212 3,842,668 412,405,304 31-Dec-19 2019
19 412,405,304 26,956,373 31,050,212 4,093,839 408,311,464 30-Jun-20 2020
20 408,311,464 26,688,784 31,050,212 4,361,428 403,950,036 31-Dec-20 2020
21 403,950,036 26,403,704 31,050,212 4,646,508 399,303,529 30-Jun-21 2021
22 399,303,529 26,099,991 31,050,212 4,950,221 394,353,308 31-Dec-21 2021
23 394,353,308 25,776,426 31,050,212 5,273,786 389,079,522 30-Jun-22 2022
24 389,079,522 25,431,711 31,050,212 5,618,501 383,461,021 31-Dec-22 2022
25 383,461,021 25,064,465 31,050,212 5,985,747 377,475,274 30-Jun-23 2023
26 377,475,274 24,673,214 31,050,212 6,376,998 371,098,276 31-Dec-23 2023
27 371,098,276 24,256,389 31,050,212 6,793,823 364,304,453 30-Jun-24 2024
28 364,304,453 23,812,319 31,050,212 7,237,893 357,066,560 31-Dec-24 2024
29 357,066,560 23,339,223 31,050,212 7,710,989 349,355,571 30-Jun-25 2025
30 349,355,571 22,835,203 31,050,212 8,215,009 341,140,562 31-Dec-25 2025
31 341,140,562 22,298,239 31,050,212 8,751,973 332,388,589 30-Jun-26 2026
32 332,388,589 21,726,177 31,050,212 9,324,035 323,064,554 31-Dec-26 2026
33 323,064,554 21,116,723 31,050,212 9,933,489 313,131,065 30-Jun-27 2027
34 313,131,065 20,467,432 31,050,212 10,582,779 302,548,286 31-Dec-27 2027
35 302,548,286 19,775,702 31,050,212 11,274,510 291,273,776 30-Jun-28 2028
36 291,273,776 19,038,757 31,050,212 12,011,455 279,262,321 31-Dec-28 2028
37 279,262,321 18,253,643 31,050,212 12,796,569 266,465,752 30-Jun-29 2029
38 266,465,752 17,417,211 31,050,212 13,633,001 252,832,751 31-Dec-29 2029
39 252,832,751 16,526,106 31,050,212 14,524,106 238,308,646 30-Jun-30 2030
40 238,308,646 15,576,756 31,050,212 15,473,456 222,835,190 31-Dec-30 2030
41 222,835,190 14,565,352 31,050,212 16,484,860 206,350,330 30-Jun-31 2031
42 206,350,330 13,487,839 31,050,212 17,562,373 188,787,957 31-Dec-31 2031
43 188,787,957 12,339,896 31,050,212 18,710,316 170,077,641 30-Jun-32 2032
44 170,077,641 11,116,919 31,050,212 19,933,293 150,144,348 31-Dec-32 2032
45 150,144,348 9,814,003 31,050,212 21,236,209 128,908,139 30-Jun-33 2033
46 128,908,139 8,425,924 31,050,212 22,624,288 106,283,851 31-Dec-33 2033
47 106,283,851 6,947,115 31,050,212 24,103,097 82,180,754 30-Jun-34 2034
48 82,180,754 5,371,645 31,050,212 25,678,567 56,502,188 31-Dec-34 2034
49 56,502,188 3,693,197 31,050,212 27,357,015 29,145,173 30-Jun-35 2035
50 29,145,173 1,905,039 31,050,212 29,145,173 0 31-Dec-35 2035
1,097,510,596
 PRESUPUESTO GENERAL 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Ingresos 188,550,000 212,590,125 239,695,366 270,256,525 304,714,232 343,565,297 387,369,872 436,759,531 492,446,371 555,233,283 626,025,527 705,843,781 795,838,863 897,308,318 1,011,715,129 1,140,708,808 1,286,149,181 1,450,133,202 1,635,025,185 1,843,490,896 2,078,535,985 2,343,549,323 2,642,351,862 2,979,251,724 3,359,106,319
- Costo Aerolíneas 6,787,800 7,653,245 8,629,033 9,729,235 10,969,712 12,368,351 13,945,315 15,723,343 17,728,069 19,988,398 22,536,919 25,410,376 28,650,199 32,303,099 36,421,745 41,065,517 46,301,371 52,204,795 58,860,907 66,365,672 74,827,295 84,367,776 95,124,667 107,253,062 120,927,827
- Costo Aeronáutica 69,386,400 78,233,166 88,207,895 99,454,401 112,134,837 126,432,029 142,552,113 160,727,507 181,220,264 204,325,848 230,377,394 259,750,512 292,868,702 330,209,461 372,311,168 419,780,841 473,302,899 533,649,018 601,689,268 678,404,650 764,901,243 862,426,151 972,385,485 1,096,364,635 1,236,151,125
UTILIDAD BRUTA 112,375,800 126,703,715 142,858,438 161,072,889 181,609,682 204,764,917 230,872,444 260,308,680 293,498,037 330,919,037 373,111,214 420,682,894 474,319,963 534,795,758 602,982,217 679,862,450 766,544,912 864,279,388 974,475,010 1,098,720,574 1,238,807,447 1,396,755,397 1,574,841,710 1,775,634,028 2,002,027,366

- Operador 7,200,000 7,452,000 7,712,820 7,982,769 8,262,166 8,551,341 8,850,638 9,160,411 9,481,025 9,812,861 10,156,311 10,511,782 10,879,694 11,260,484 11,654,601 12,062,512 12,484,699 12,921,664 13,373,922 13,842,009 14,326,480 14,827,907 15,346,883 15,884,024 16,439,965
- Adminsitración y servicios 9,427,500 10,629,506 11,984,768 13,512,826 15,235,712 17,178,265 19,368,494 21,837,977 24,622,319 27,761,664 31,301,276 35,292,189 39,791,943 44,865,416 50,585,756 57,035,440 64,307,459 72,506,660 81,751,259 92,174,545 103,926,799 117,177,466 132,117,593 148,962,586 167,955,316
- Depreciación 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322
- Intereses 59,395,441 59,030,268 58,615,797 58,145,372 57,611,440 57,005,427 56,317,603 55,536,922 54,650,849 53,645,157 52,503,695 51,208,137 49,737,678 48,068,708 46,174,426 44,024,416 41,584,155 38,814,459 35,670,854 32,102,862 28,053,191 23,456,815 18,239,927 12,318,760 5,598,236
UTILIDAD ANTES DE IMPUESTOS 10,971,537 24,210,618 39,163,731 56,050,600 75,119,043 96,648,561 120,954,387 148,392,049 179,362,522 214,318,033 253,768,609 298,289,464 348,529,325 405,219,828 469,186,112 541,358,759 622,787,276 714,655,283 818,297,653 935,219,836 1,067,119,655 1,215,911,887 1,383,755,984 1,573,087,335 1,786,652,527
- Impuestos 3,620,607 7,989,504 12,924,031 18,496,698 24,789,284 31,894,025 39,914,948 48,969,376 59,189,632 70,724,951 83,743,641 98,435,523 115,014,677 133,722,543 154,831,417 178,648,391 205,519,801 235,836,243 270,038,225 308,622,546 352,149,486 401,250,923 456,639,475 519,118,820 589,595,334
Utilidad Neta 7,350,930 16,221,114 26,239,700 37,553,902 50,329,759 64,754,536 81,039,439 99,422,673 120,172,890 143,593,082 170,024,968 199,853,941 233,514,648 271,497,285 314,354,695 362,710,369 417,267,475 478,819,040 548,259,427 626,597,290 714,970,169 814,660,964 927,116,509 1,053,968,514 1,197,057,193
 PRESUPUESTO GENERAL 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Ingresos 188,550,000 212,590,125 239,695,366 270,256,525 304,714,232 343,565,297 387,369,872 436,759,531 492,446,371 555,233,283 626,025,527 705,843,781 795,838,863 897,308,318 1,011,715,129 1,140,708,808 1,286,149,181 1,450,133,202 1,635,025,185 1,843,490,896 2,078,535,985 2,343,549,323 2,642,351,862 2,979,251,724 3,359,106,319
- Costo Aerolíneas 6,787,800 7,653,245 8,629,033 9,729,235 10,969,712 12,368,351 13,945,315 15,723,343 17,728,069 19,988,398 22,536,919 25,410,376 28,650,199 32,303,099 36,421,745 41,065,517 46,301,371 52,204,795 58,860,907 66,365,672 74,827,295 84,367,776 95,124,667 107,253,062 120,927,827
- Costo Aeronáutica 69,386,400 78,233,166 88,207,895 99,454,401 112,134,837 126,432,029 142,552,113 160,727,507 181,220,264 204,325,848 230,377,394 259,750,512 292,868,702 330,209,461 372,311,168 419,780,841 473,302,899 533,649,018 601,689,268 678,404,650 764,901,243 862,426,151 972,385,485 1,096,364,635 1,236,151,125
UTILIDAD BRUTA 112,375,800 126,703,715 142,858,438 161,072,889 181,609,682 204,764,917 230,872,444 260,308,680 293,498,037 330,919,037 373,111,214 420,682,894 474,319,963 534,795,758 602,982,217 679,862,450 766,544,912 864,279,388 974,475,010 1,098,720,574 1,238,807,447 1,396,755,397 1,574,841,710 1,775,634,028 2,002,027,366

- Operador 7,200,000 7,452,000 7,712,820 7,982,769 8,262,166 8,551,341 8,850,638 9,160,411 9,481,025 9,812,861 10,156,311 10,511,782 10,879,694 11,260,484 11,654,601 12,062,512 12,484,699 12,921,664 13,373,922 13,842,009 14,326,480 14,827,907 15,346,883 15,884,024 16,439,965
- Adminsitración y servicios 9,427,500 10,629,506 11,984,768 13,512,826 15,235,712 17,178,265 19,368,494 21,837,977 24,622,319 27,761,664 31,301,276 35,292,189 39,791,943 44,865,416 50,585,756 57,035,440 64,307,459 72,506,660 81,751,259 92,174,545 103,926,799 117,177,466 132,117,593 148,962,586 167,955,316
- Depreciación y Amortización 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322

UTILIDAD OPERACIONAL 70,366,978 83,240,886 97,779,528 114,195,972 132,730,483 153,653,989 177,271,990 203,928,971 234,013,371 267,963,190 306,272,304 349,497,601 398,267,003 453,288,536 515,360,538 585,383,176 664,371,431 753,469,742 853,968,507 967,322,698 1,095,172,846 1,239,368,702 1,401,995,911 1,585,406,095 1,792,250,763

- Impuestos *** corregido 23,221,103 27,469,492 32,267,244 37,684,671 43,801,059 50,705,816 58,499,757 67,296,560 77,224,413 88,427,853 101,069,860 115,334,208 131,428,111 149,585,217 170,068,978 193,176,448 219,242,572 248,645,015 281,809,607 319,216,490 361,407,039 408,991,672 462,658,651 523,184,011 591,442,752
+ Depreciación y amortización 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322 25,381,322

= Flujo de caja bruto 72,527,197 81,152,716 90,893,606 101,892,623 114,310,746 128,329,494 144,153,555 162,013,733 182,170,281 204,916,659 230,583,766 259,544,714 292,220,214 329,084,641 370,672,882 417,588,050 470,510,181 530,206,049 597,540,222 673,487,529 759,147,129 855,758,352 964,718,583 1,087,603,406 1,226,189,333
(+/-) D Capital de Trabajo 15,466,950 0 1,861,036 2,094,433 2,357,452 2,653,866 2,987,927 3,364,429 3,788,780 4,267,073 4,806,182 5,413,855 6,098,826 6,870,947 7,741,320 8,722,468 9,828,507 11,075,353 12,480,952 14,065,536 15,851,920 17,865,823 20,136,247 22,695,888 25,581,613 28,834,988
(-) Inversión en Activos Preoperativos
(-) Inversión en Activos Fijos 634,533,050
Flujo de Caja Libre -650,000,000 72,527,197 79,291,680 88,799,172 99,535,171 111,656,880 125,341,568 140,789,126 158,224,953 177,903,208 200,110,477 225,169,911 253,445,888 285,349,267 321,343,321 361,950,414 407,759,543 459,434,828 517,725,098 583,474,685 657,635,609 741,281,305 835,622,105 942,022,694 1,062,021,793 1,197,354,346
+Préstamo 455,000,000
- Gasto Financiero * ahorro de impuesto 39,794,945 39,550,279 39,272,584 38,957,399 38,599,665 38,193,636 37,732,794 37,209,738 36,616,069 35,942,255 35,177,476 34,309,452 33,324,245 32,206,034 30,936,865 29,496,359 27,861,384 26,005,688 23,899,472 21,508,918 18,795,638 15,716,066 12,220,751 8,253,570 3,750,818
-Amortización Capital 2,704,983 3,070,156 3,484,627 3,955,052 4,488,984 5,094,997 5,782,821 6,563,502 7,449,575 8,455,267 9,596,728 10,892,287 12,362,745 14,031,716 15,925,998 18,076,007 20,516,268 23,285,965 26,429,570 29,997,562 34,047,233 38,643,609 43,860,496 49,781,663 56,502,188
Flujo de caja del periodo -195,000,000 30,027,269 36,671,244 46,041,961 56,622,720 68,568,231 82,052,935 97,273,511 114,451,713 133,837,564 155,712,955 180,395,707 208,244,149 239,662,277 275,105,571 315,087,551 360,187,176 411,057,176 468,433,445 533,145,643 606,129,130 688,438,435 781,262,430 885,941,447 1,003,986,560 1,137,101,340

TIO 22.00%
VPN -9,898,190
TIR 21.79%

WACC 16.05%
VPN 601,797,759
TIR 34.11%

Cambios en Capital de Trabajo 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Capital de trabajo operativo( dos meses de costos
operativos) 15,466,950 $ 15,466,950 $ 17,327,986 $ 19,422,419 $ 21,779,872 $ 24,433,738 $ 27,421,664 $ 30,786,093 $ 34,574,873 $ 38,841,946 $ 43,648,129 $ 49,061,983 $ 55,160,810 $ 62,031,756 $ 69,773,077 $ 78,495,545 $ 88,324,052 $ 99,399,405 $ 111,880,356 $ 125,945,893 $ 141,797,813 $ 159,663,636 $ 179,799,883 $ 202,495,771 $ 228,077,385 $ 256,912,372
Capital de Trabajo $ 15,466,950 $ 15,466,950 $ 17,327,986 $ 19,422,419 $ 21,779,872 $ 24,433,738 $ 27,421,664 $ 30,786,093 $ 34,574,873 $ 38,841,946 $ 43,648,129 $ 49,061,983 $ 55,160,810 $ 62,031,756 $ 69,773,077 $ 78,495,545 $ 88,324,052 $ 99,399,405 $ 111,880,356 $ 125,945,893 $ 141,797,813 $ 159,663,636 $ 179,799,883 $ 202,495,771 $ 228,077,385 $ 256,912,372
D Capital de Trabajo $ 15,466,950 $ - $ 1,861,036 $ 2,094,433 $ 2,357,452 $ 2,653,866 $ 2,987,927 $ 3,364,429 $ 3,788,780 $ 4,267,073 $ 4,806,182 $ 5,413,855 $ 6,098,826 $ 6,870,947 $ 7,741,320 $ 8,722,468 $ 9,828,507 $ 11,075,353 $ 12,480,952 $ 14,065,536 $ 15,851,920 $ 17,865,823 $ 20,136,247 $ 22,695,888 $ 25,581,613 $ 28,834,988

Asumimos dos meses de costos operativos como esta referenciado en el capital de trabajo inicical, ya que no tiene datos de balances como cartera,inventarios y proveedores

Valor % tasa Ponderación

Credito 455,000,000 70% 13.5% 9.5%
Aportes Socios 195,000,000 30% 22.0% 6.6%
WACC 650,000,000 100% 16.1%