𝐴𝑐𝑡𝑖𝑣𝑜 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 756,752

= = 1.07
𝑃𝑎𝑠𝑖𝑣𝑜 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 708,812

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•

•
•
•
•
•

𝐴𝑐𝑡𝑖𝑣𝑜 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 − 𝐼𝑛𝑣𝑒𝑛𝑡𝑎𝑟𝑖𝑜𝑠 (756,752 − 90,553)

= = 0.94
𝑃𝑎𝑠𝑖𝑣𝑜 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 708,812

•
•

•
•
•
•
•
 𝐶𝑎𝑗𝑎𝑠 𝑦 𝐵𝑎𝑛𝑐𝑜𝑠 203,351
= = 0.29
𝑃𝑎𝑠𝑖𝑣𝑜 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 708,812

•
•

•
•
•
•

𝐴𝑐𝑡𝑖𝑣𝑜 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 − 𝑃𝑎𝑠𝑖𝑣𝑜 𝐶𝑜𝑟𝑟𝑖𝑒𝑛𝑡𝑒 = 756,752 − 708,812 = 47,940

𝐷𝑒𝑢𝑑𝑎 𝑇𝑜𝑡𝑎𝑙 𝑃𝑎𝑠𝑖𝑣𝑜 1′ 562,913

= = ′ = 1.39
𝐶𝑎𝑝𝑖𝑡𝑎𝑙 𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝑁𝑒𝑡𝑜 1 121,630

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•
•
•
•

𝑇𝑜𝑡𝑎𝑙 𝑃𝑎𝑠𝑖𝑣𝑜 1′562,913

= = 0.58
𝑇𝑜𝑡𝑎𝑙 𝐴𝑐𝑡𝑖𝑣𝑜 2′684,543

𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝑁𝑒𝑡𝑜 1′121,630

= = 0.42
𝑇𝑜𝑡𝑎𝑙 𝐴𝑐𝑡𝑖𝑣𝑜 2′684,543

𝑇𝑜𝑡𝑎𝑙 𝐴𝑐𝑡𝑖𝑣𝑜 𝑇𝑜𝑡𝑎𝑙 𝐴𝑐𝑡𝑖𝑣𝑜 2′684,543

= = = 1.71
𝐷𝑒𝑢𝑑𝑎 𝑇𝑜𝑡𝑎𝑙 𝑇𝑜𝑡𝑎𝑙 𝑃𝑎𝑠𝑖𝑣𝑜 1′562,913

𝐸𝐵𝐼𝑇(𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑣𝑎) 168,908

= = 4.7636
𝐺𝑎𝑠𝑡𝑜𝑠 𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑒𝑟𝑜𝑠 (𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑒𝑠) 35,458

𝐶𝑢𝑒𝑛𝑡𝑎𝑠 𝑝𝑜𝑟 𝑐𝑜𝑏𝑟𝑎𝑟 69,121 𝑥 365

𝑥365 𝑑𝑖𝑎𝑠 = = 30.7 𝑑𝑖𝑎𝑠
𝑉𝑒𝑛𝑡𝑎𝑠 821,548
 𝐶𝑢𝑒𝑛𝑡𝑎𝑠 𝑝𝑜𝑟 𝑝𝑎𝑔𝑎𝑟 211,244 𝑥 365
𝑥365 𝑑𝑖𝑎𝑠 = = 136.5 𝑑𝑖𝑎𝑠
𝐶𝑜𝑠𝑡𝑜 𝑑𝑒 𝑣𝑒𝑛𝑡𝑎𝑠(∗) 564,809

𝐶𝑜𝑠𝑡𝑜 𝑑𝑒 𝑣𝑒𝑛𝑡𝑎𝑠 = 𝐼𝑛𝑣𝑒𝑛𝑡𝑎𝑟𝑖𝑜 𝐼𝑛𝑖𝑐𝑖𝑎𝑙 + 𝐶𝑜𝑚𝑝𝑟𝑎𝑠 − 𝐼𝑛𝑣𝑒𝑛𝑡𝑎𝑟𝑖𝑜 𝐹𝑖𝑛𝑎𝑙

581,224 = 106,968 + 𝐶𝑜𝑚𝑝𝑟𝑎𝑠 − 90,553

𝐶𝑜𝑚𝑝𝑟𝑎𝑠 = 564,809

𝐼𝑛𝑣𝑒𝑛𝑡𝑎𝑟𝑖𝑜𝑠 90,553 𝑥 365

𝑥365 𝑑𝑖𝑎𝑠 = = 56.9 𝑑𝑖𝑎𝑠
𝐶𝑜𝑠𝑡𝑜 𝑑𝑒 𝑣𝑒𝑛𝑡𝑎𝑠 581,224

𝑃𝑒𝑟𝑖𝑜𝑑𝑜 𝑝𝑟𝑜𝑚𝑒𝑑𝑖𝑜 𝑑𝑒 𝑐𝑜𝑏𝑟𝑎𝑛𝑧𝑎𝑠 + 𝑅𝑜𝑡𝑎𝑐𝑖ó𝑛 𝑑𝑒 𝐼𝑛𝑣𝑒𝑛𝑡𝑎𝑟𝑖𝑜𝑠 − 𝑃𝑒𝑟𝑖𝑜𝑑𝑜 𝑝𝑟𝑜𝑚𝑒𝑑𝑖𝑜 𝑑𝑒 𝑝𝑎𝑔𝑜𝑠

= 30.7 + 56.9 − 136.5 = −48.9 𝑑𝑖𝑎𝑠

𝐸𝐵𝐼𝑇 = 168,908 (000)𝑈𝑆$

𝐸𝐵𝐼𝑇(𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑣𝑎) 168,908

= = 0.205 = 20.50%
𝑉𝑒𝑛𝑡𝑎𝑠 821,548

𝐸𝐵𝐼𝑇𝐷𝐴 = 168,908 + (105,502) = 274,410 (000)𝑈𝑆$

 𝐸𝐵𝐼𝑇𝐷𝐴 274,410
= = 0.3340 = 33.40%
𝑉𝑒𝑛𝑡𝑎𝑠 821,548

𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑁𝑒𝑡𝑎 84,406

= = 0.1027 = 10.27%
𝑉𝑒𝑛𝑡𝑎𝑠 821,548

𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑁𝑒𝑡𝑎 (𝑁𝑂𝑃𝐴𝑇) 𝐸𝐵𝐼𝑇 − 𝐼𝑚𝑝𝑢𝑒𝑠𝑡𝑜𝑠

=
𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜

168,908 − 49,044
= = 0.1067 = 10.67%
1′ 121,630

𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑁𝑒𝑡𝑎 (𝑁𝑂𝑃𝐴𝑇) 168,908 − 49,044

= = 0.0446 = 4.46%
𝐴𝑐𝑡𝑖𝑣𝑜 𝑇𝑜𝑡𝑎𝑙 2′ 684,543

𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝐵𝑟𝑢𝑡𝑎 240,324

= = 3.3651
𝐺𝑎𝑠𝑡𝑜𝑠 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑣𝑜𝑠 71,416
 𝑈𝑡𝑖𝑙𝑖𝑑𝑎𝑑 𝑁𝑒𝑡𝑎 84,406
= = 0.022 (000)𝑈𝑆$
𝑁ú𝑚𝑒𝑟𝑜 𝑑𝑒 𝑎𝑐𝑐𝑖𝑜𝑛𝑒𝑠 3′ 858,520

𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝐵𝑢𝑟𝑠á𝑡𝑖𝑙 𝑁ú𝑚𝑒𝑟𝑜 𝑑𝑒 𝑎𝑐𝑐𝑖𝑜𝑛𝑒𝑠 𝑥 𝑉𝑎𝑙𝑜𝑟 𝑑𝑒 𝑎𝑐𝑐𝑖ó𝑛

=
𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝐶𝑜𝑛𝑡𝑎𝑏𝑙𝑒 𝑃𝑎𝑡𝑟𝑖𝑚𝑜𝑛𝑖𝑜 𝑇𝑜𝑡𝑎𝑙

1′ 633,414,553 𝑥 1.41 + 2′ 443,157,622 𝑥 0.72

= = 3.6217
1′ 121,630,000

Pag. 68 de EEFF