Documentos de Académico
Documentos de Profesional
Documentos de Cultura
12,000,000
###
USOS
Construccion Linea Transmision
10,700,000
abogados
10,000
Gastos de constitucion
1,000
Derecho licencia transmision
20,558
Compra de equipos para O&M
877,504
Personal y capacitacion
390,938
Total Usos
Financiamiento/ Deficit
Interes
Cuota Fija (Mn.)
Tiempo del prstamo
12,000,000.00
8.00%
107,790.82
17 aos
COSTOS DE OPERACIN
TOTAL AO 1 INCREMENTO
COSTO DE OPERACIN Y MANTENIMIENTO
673,178
1.00%
Servicios al Comit Nacional de Despacho de carga es el 1% sobre los ingresos anual 1.00%
Tasa de Regulacin es el 0.95% sobre los ingresos anuales.
0.95%
El impuesto a las utilidades alcanza al 25% sobre la utilidad neta
25.00%
Tarifa dignidad equivalente al 1.5% sobre los ingresos anuales
1.50%
12,000,000
0
INGRESOS
POR TRANSMSION
POR OPERACIN Y MANTENIMIENTO
17 AOS
ANUAL
MENSUAL
INCREMENTO
62,220,000.00 3,660,000.00 305,000.00
0.00%
13,464,000.00
792,000.00
66,000.00
1.00%
Worksheet Data
3
Sheet Ref
#NAME?
#NAME?
#NAME?
Sheet Guid
a1b89c4c-22e8-4c55-a83e-9bd9a5ccc4fa
61873ee4-3394-417d-8b47-ce760a674778
67d57ea4-7c52-4f76-bdbe-d37fb5c846aa
Deleted sheet count
Data blocks
CB_Block_0
Decisioneering:7.0.0.0
31
31
CB_Block_7.0.0.0:1
CB_Block_7.0.0.0:1
Decisioneering:7.0.0.0
Decisioneering:7.0.0.0
CB_Block_0
CB_Block_0
Decisioneering:7.0.0.0
Decisioneering:7.0.0.0
Supuestos
Inflacin
Incremento Ingresos Peaje
Incremento Ingresos O&M
Incremento en Costos
0
4.50%
0.00%
1.00%
1.00%
1
4.50%
0.00%
1.00%
1.00%
2
4.50%
0.00%
1.00%
1.00%
3
4.50%
0.00%
1.00%
1.00%
4
4.50%
0.00%
1.00%
1.00%
5
4.50%
0.00%
1.00%
1.00%
6
4.50%
0.00%
1.00%
1.00%
7
4.50%
0.00%
1.00%
1.00%
8
4.50%
0.00%
1.00%
1.00%
9
4.50%
0.00%
1.00%
1.00%
10
4.50%
0.00%
1.00%
1.00%
FLUJO DE EFECTIVO
EMPRESA "B"
(En miles de dlares americanos)
-
1.00
AO 0
2.00
3.00
###
FLUJO DE INVERSIONES
###
FLUJO NETO
FLUJO ACUMULADO
###
###
VAN:
r%
8%
10%
12%
15%
TIR:
USD $M
158,032.86
-858,452.16
###
###
557,294.97
AO 8
###
10.00
502,865.50
546,366.11
AO 7
###
9.00
536,259.29
AO 6
###
8.00
SALDO
526,911.66
AO 5
###
7.00
###
###
###
###
###
###
###
###
518,265.19
AO 4
###
6.00
###
###
###
###
###
###
###
###
###
###
42,505.47
42,581.09
42,657.46
42,734.59
42,812.50
42,891.19
42,970.66
43,050.93
43,132.00
43,213.88
44,742.60
44,822.20
44,902.59
44,983.78
45,065.79
45,148.62
45,232.28
45,316.77
45,402.11
45,488.30
67,113.90
67,233.29
67,353.88
67,475.68
67,598.69
67,722.93
67,848.41
67,975.15
68,103.16
68,232.45
679,910.21 686,709.31 693,576.41 700,512.17 707,517.29 714,592.47 721,738.39 728,955.78 736,245.33 743,607.79
345,993.67 374,710.97 405,811.80 439,493.98 475,971.76 515,477.18 558,261.53 604,596.97 654,778.22 709,124.48
947,496.19 918,778.88 887,678.06 853,995.88 817,518.09 778,012.67 735,228.32 688,892.89 638,711.64 584,365.37
###
###
###
###
###
###
###
###
###
###
510,266.29
AO 3
###
5.00
###
Egresos
Tasas de Regulacin (Superintendencia Electricidad)
Servicios del CNDC
Tarifa Dignidad
Costo por O & M y Adm.
Amortizacion a capital
Interes prestamo
AO 2
###
4.00
AO 10
###
AO 1
###
569,113.92
AO 9
###
581,896.68
595,723.08
###
###
###
###
###
###
###
###
###
###
###
###
### 746,173.65
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
### 963,717.83
###
###
### 920,940.76 832,143.95
###
### 914,292.25 811,809.88 720,436.58
### 901,796.94 780,200.34 674,676.54 583,119.03
###
###
8%
###
###
###
###
886,411.90
751,476.16
638,979.86
503,696.36
814,791.80
678,199.33
566,374.87
434,816.29
###
TABLE 2: LOAN
SCHEDULE OF LOAN REPAYMENT
Interest Rate:
Month
Balance
Principal payment
8%
Interest
payment
Total payment
12,000,000.00
11,972,209.18
27,790.82
80,000.00
107,790.82
11,944,233.09
27,976.09
79,814.73
107,790.82
11,916,070.48
28,162.60
79,628.22
107,790.82
11,887,720.13
28,350.35
79,440.47
107,790.82
11,859,180.78
28,539.35
79,251.47
107,790.82
11,830,451.16
28,729.62
79,061.21
107,790.82
11,801,530.02
28,921.15
78,869.67
107,790.82
11,772,416.06
29,113.95
78,676.87
107,790.82
11,743,108.02
29,308.05
78,482.77
107,790.82
10
11,713,604.58
29,503.43
78,287.39
107,790.82
11
11,683,904.46
29,700.12
78,090.70
107,790.82
12
11,654,006.33
Year 1
29,898.12
77,892.70
107,790.82
345,993.67
947,496.19
1,293,489.85
13
11,623,908.89
30,097.45
77,693.38
107,790.82
14
11,593,610.79
30,298.10
77,492.73
107,790.82
15
11,563,110.71
30,500.08
77,290.74
107,790.82
16
11,532,407.29
30,703.42
77,087.40
107,790.82
17
11,501,499.19
30,908.11
76,882.72
107,790.82
18
11,470,385.03
31,114.16
76,676.66
107,790.82
19
11,439,063.44
31,321.59
76,469.23
107,790.82
20
11,407,533.04
31,530.40
76,260.42
107,790.82
21
11,375,792.44
31,740.60
76,050.22
107,790.82
22
11,343,840.23
31,952.20
75,838.62
107,790.82
23
11,311,675.01
32,165.22
75,625.60
107,790.82
24
11,279,295.36
32,379.65
75,411.17
107,790.82
374,710.97
918,778.88
1,293,489.85
Year 2
25
11,246,699.84
32,595.52
75,195.30
107,790.82
26
11,213,887.02
32,812.82
74,978.00
107,790.82
27
11,180,855.44
33,031.57
74,759.25
107,790.82
28
11,147,603.66
33,251.78
74,539.04
107,790.82
29
11,114,130.20
33,473.46
74,317.36
107,790.82
30
11,080,433.58
33,696.62
74,094.20
107,790.82
31
11,046,512.31
33,921.26
73,869.56
107,790.82
32
11,012,364.91
34,147.41
73,643.42
107,790.82
33
10,977,989.85
34,375.06
73,415.77
107,790.82
34
10,943,385.63
34,604.22
73,186.60
107,790.82
35
10,908,550.71
34,834.92
72,955.90
107,790.82
36
10,873,483.56
35,067.15
72,723.67
107,790.82
405,811.80
887,678.06
1,293,489.85
Year 3
Ingreso Annual
Anual Increase
INGRESOS TRANSMISION
###
0.00%
INGRESOS POR O&M
792,000
1.00%
###
%
Penalizaciones
0.50%
Total Revenue
Revenue
Ao 0
Ao 1 Ao 2 Ao 3 Ao 4 Ao 5 Ao 6 Ao 7 Ao 8 Ao 9 Ao 10
0
###
###
###
###
###
###
###
###
###
###
0 792,000 799,920 807,919 815,998 824,158 832,400 840,724 849,131 857,623 866,199
0
###
###
###
###
###
###
###
###
###
###
22,260
###
22,300
###
22,340
###
22,380
###
22,421
###
22,462
###
22,504
###
22,546
###
22,588
###
22,631
###
Expense
EXP/Yr.
Costo de O&M
673,178.43
Tasas de Regulacin (Superintendencia Electricidad)
42,505.47
Servicios del CNDC
44,742.60
Tarifa Dignidad
1,200.00
Annual
Increase
1.00%
1.00%
0.00%
0.00%
Ao 0
Ao 1
Ao 2
Ao 3
Ao 4
Ao 5
Ao 6
Ao 7
Ao 8
Ao 9 Ao 10
679,910 686,709 693,576 700,512 707,517 714,592 721,738 728,956 736,245 743,608
42,505
42,581
42,657
42,735
42,813
42,891
42,971
43,051
43,132
43,214
44,743
44,822
44,903
44,984
45,066
45,149
45,232
45,317
45,402
45,488
67,114
67,233
67,354
67,476
67,599
67,723
67,848
67,975
68,103
68,232
- 834,272 841,346 848,490 855,706 862,994 870,355 877,790 885,299 892,883 900,542
Depreciacin
Aos vida
Depreciaci
ACTIVOS
til / aos Coeficiente Cantidad Valor Activon Anual
Linea de Transmision
17
5.88%
1 10,700,000
629,412
Equipos de medicion O&M
17
5.88%
1
877,504
51,618
Maquinaria en general
8
12.50%
0
0
0
Equipos e instalaciones
8
12.50%
0
0
0
Vehculos automotores
5
20.00%
0
0
0
Equipos de computacin
4
25.00%
0
0
0
Depreciacin anual
ACTIVOS FIJOS
Linea de Transmision
Equipos de medicion O&M
Maquinaria en general
Equipos e instalaciones
Vehculos automotores
Equipos de computacin
Depreciacion Total
Ao 0
0
0
0
0
0
0
0
Ao 1
629,412
51,618
0
0
0
0
681,030
Ao 2
629,412
51,618
0
0
0
0
681,030
Ao 3
629,412
51,618
0
0
0
0
681,030
Ao 4
629,412
51,618
0
0
0
0
681,030
Ao 5
629,412
51,618
0
0
0
0
681,030
Ao 6
629,412
51,618
0
0
0
0
681,030
Ao 7
629,412
51,618
0
0
0
0
681,030
Ao 8
629,412
51,618
0
0
0
0
681,030
Ao 9
Ao 10
629,412 629,412
51,618
51,618
0
0
0
0
0
0
0
0
681,030 681,030
Balance Sheet
ACTIVO
Activo Corriente
Banco
Gastos organizacin
Activo no Corriente
Activo Fijo
Linea de Transmision
Equipos de medicion O&M
Maquinaria en general
Equipos e instalaciones
Vehculos automotores
Equipos de computacin
Ao 0
Ao 1
Ao 2
Ao 3
Ao 4
Ao 5
Ao 6
Ao 7
Ao 8
Ao 9
###
###
###
###
###
###
###
###
### 9,426,449
422,496 2,266,128 4,103,246 4,089,627 4,074,780 4,058,602 4,040,983 4,021,800 4,000,923 3,978,212
1,843,632 3,680,750 3,667,131 3,652,284 3,636,106 3,618,487 3,599,304 3,578,427 3,555,716
422,496
422,496
422,496
422,496
422,496
422,496
422,496
422,496
422,496
422,496
###
###
### 9,534,415 8,853,385 8,172,356 7,491,326 6,810,296 6,129,267 5,448,237
###
###
### 9,534,415 8,853,385 8,172,356 7,491,326 6,810,296 6,129,267 5,448,237
###
### 9,441,176 8,811,765 8,182,353 7,552,941 6,923,529 6,294,118 5,664,706 5,035,294
877,504
825,886
774,268
722,650
671,032
619,415
567,797
516,179
464,561
412,943
TOTAL ACTIVO
###
###
###
###
###
PASIVO
Pasivo Corriente
C. x P. Proveedores
IUE POR PAGAR
###
###
502,865
###
510,266
###
518,265
###
526,912
502,865
510,266
518,265
526,912
Pasivo no Corriente
Prestamo
###
###
PATRIMONIO
Acciones normales
Retencin de Utilidades
TOTAL PASIVO Y PATRIMONIO ###
###
###
###
###
###
###
###
###
###
Ao 10
8,720,719
3,953,512
3,531,016
422,496
4,767,208
4,767,208
4,405,882
361,325
546,366
557,295
569,114
581,897
595,723
1,005,731 2,830,435 2,558,607 2,320,662 2,119,410 1,957,898 1,839,421 1,767,551 1,746,156 1,779,425
-502,865
-208,961 -2,035,584 -3,854,264 -5,664,293 -7,464,904 -9,255,266
###
###
###
1,508,596 3,039,395 4,594,191 6,174,926 7,783,704 9,422,802
###
###
###
###
###
###
###
###
###
###
###
ESTADO DE RESULTADOS
Revenue
INGRESOS TRANSMISION
INGRESOS POR O&M
Ao 0
Ao 1
Ao 2
Ao 3
Ao 4
Ao 5
Ao 6
Ao 7
Ao 8
Ao 9
Ao 10
0 3,660,000
###
###
###
###
###
###
###
###
###
0
792,000 799,920 807,919 815,998 824,158 832,400 840,724 849,131 857,623 866,199
0 4,452,000
###
###
###
###
###
###
###
###
###
Penalizaciones
22,260
22,300
22,340
22,380
22,421
22,462
22,504
22,546
22,588
22,631
Otros Ingresos
Total Revenue
0
0
0 4,474,260
0
###
0
###
0
###
0
###
0
###
0
###
0
###
0
###
0
###
Expense
Costo de O&M
0
679,910 686,709 693,576 700,512 707,517 714,592 721,738 728,956 736,245 743,608
Tasas de Regulacin (Superintendencia Electricidad)
0
42,505
42,581
42,657
42,735
42,813
42,891
42,971
43,051
43,132
43,214
Servicios del CNDC
0
44,743
44,822
44,903
44,984
45,066
45,149
45,232
45,317
45,402
45,488
Tarifa Dignidad
67,114
67,233
67,354
67,476
67,599
67,723
67,848
67,975
68,103
68,232
Costo
0
834,272 841,346 848,490 855,706 862,994 870,355 877,790 885,299 892,883 900,542
Utilidad Operativa
0 3,639,988
###
###
###
###
###
###
###
###
###
Gastos Adm.
0
0
0
0
0
0
0
0
0
0
0 3,639,988
0
0
0
0
0
###
Gastos financieros
Depreciacin
Utilidad antes de Impuestos
IUE POR PAGAR
Utilidad neta de Impuestos
0
947,496 918,779 887,678 853,996 817,518 778,013 735,228 688,893 638,712 584,365
0
681,030 681,030 681,030 681,030 681,030 681,030 681,030 681,030 681,030 681,030
0 2,011,462
###
###
###
###
###
###
###
###
###
0
502,865 510,266 518,265 526,912 536,259 546,366 557,295 569,114 581,897 595,723
0 1,508,596
###
###
###
###
###
###
###
###
###
Utilidad Neta
0 1,508,596
###
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
0
0
###
###
0
0
0
0
0
###
###
Razones de Liquidez
Razon Activo Circulante
Prueba cida
Inventarios con respecto al
capital de trabajo
Razones de Endeudamiento
o Apalancamiento
Deuda a capital contable
Deuda a Largo Plazo a capital
contable
Deuda a Activos Fijos
Capitalizacin Total
Cobertura de Inters
0
-
1
4.51
2
8.04
3
7.89
4
7.73
5
7.57
6
7.40
7
7.22
8
7.03
9
6.84
10
6.64
0.84
0.83
0.82
0.80
0.79
0.77
0.76
0.74
0.73
0.71
#DIV/0!
12.09
4.06
4.32
4.57
4.77
4.89
4.89
4.73
4.40
3.90
#DIV/0!
1.00
1.00
#DIV/0!
11.59
0.92
0.96
3.84
3.88
0.80
0.83
3.96
4.12
0.81
0.84
4.10
4.34
0.82
0.86
4.27
4.52
0.83
0.86
4.46
4.61
0.83
0.87
4.68
4.59
0.83
0.88
4.96
4.41
0.83
0.87
5.29
4.07
0.81
0.87
5.71
3.57
0.80
0.85
6.24
0.00
0.00
0.41
0.34
0.44
0.31
0.47
0.33
0.51
0.35
0.55
0.37
0.60
0.39
0.66
0.42
0.74
0.45
0.83
0.48
0.95
0.52
#DIV/0!
0.81
0.81
0.81
0.81
0.81
0.81
0.81
0.80
0.80
0.80
#DIV/0!
0.34
0.34
0.35
0.35
0.36
0.36
0.37
0.38
0.38
0.39
0.00
0.34
0.31
0.33
0.35
0.37
0.39
0.42
0.45
0.48
0.52
0.00
0.11
0.11
0.11
0.12
0.13
0.14
0.15
0.17
0.19
0.20
#DIV/0!
1.50
0.54
0.61
0.68
0.76
0.84
0.91
0.97
1.00
1.00
80.85%
169.86%
133.33%
36.85%
577.09%
80.72%
166.76%
133.33%
39.15%
589.01%
80.59%
163.53%
133.33%
41.76%
588.89%
80.46%
160.18%
133.33%
44.73%
573.12%
80.33%
156.70%
133.33%
48.16%
539.84%
80.20%
153.10%
133.33%
52.16%
490.09%
75.91%
83.72%
90.89%
96.59%
Razones de actvidad
Ventas Anuales al Crdito / Cuentas por
Rotacin de Cuentas por Cobrar Cobrar
Cmbio de Cuentas por Cobrar Das en el ao / Rotacin de Cuentas por
en Das
Cobrar
Compras Anuales al Crdito / Cuentas
Rotacin de Cuentas por Pagar por Pagar
Cmbio de Cuentas por Pagar Das en el ao / Rotacin de Cuentas por
en Das
Pagar
Rotacin de Inventarios
Costo de Bienes Vendidos / Inventarios
Rotacin de Inventarios en Das Das en el ao / Rotacin de Inventarios
Rotacin de Activos Fijos
Ventas / Activos Fijos
Rotacin de Activos Totales
Ventas / Activos Totales
Razones de Rentabilidad
Margen Bruto de Utilidad
Utilidad Bruta / Ventas Netas
Utilidad despus de Impuestos / Ventas
Margen Neto de Utilidad
Netas
ROA (Rentabilidad del Activo
Total)
Ventas Netas / Activo Total
ROI (Rentabilidad sobre la
Utilidad despus de Impuestos / Activo
Inversin)
Total
ROE (Rentabilidad sobre el
Utilidad despus de Impuestos /
Patrimonio)
Patrimonio de los Accionistas
DUPONT
OPERACIONES
EBIT / VENTAS
FINANCIAMIENTO
EBIT / EBT
IMPUESTOS
EBT / EAT
ROTACION
VENTAS / ACTIVOS
APALANCAMIENTO
ACTIVOS / PATRIMONIO
Utilidad despus de Impuestos /
ROE
Patrimonio de los Accionistas
60.77%
68.12%
99.97% 100.44%
XXXXXXXXXXXXXXXX
PRESEPUESTO PROYECTADO
DESCRIPCION
CTA FLUJO
DESCRIPCION
Gestin 2008
Err:509
TOTAL EGRESOS
EGRESOS OPERATIVOS
SERV. GENERALES
REMUNERACION
PERSONAL
SEGURIDAD Y MEDIO
AMBIENTE
SERVICIOS MEDICOS
CAPACITACION
ALQUILERES ESPEC.
SERV. BASICOS
SERV. MANT. VEHICULOS
SERV. VARIOS
SERV. DE ALQUILERES
SERV. TRANSPORTE
EQUIPOS
HERRAMIENTAS
COMUNICACIN
REP. GENERALES
REP. AUTOMOTORES
COMBUSTIBLES
MAT. ESCRITORIO
MAT. HIGIENE
MAT. LIMPIEZA
MAT. MANT BIENES
ROPA TRABAJO
MAT. GENERALES
SALARIOS
APORTES PATRONALES
VIATICOS
SEGURIDAD
3,000.00
5,401.17
3,700.00
3,598.30
2,218.39
1,028.57
3,394.56
6,679.81
22,000.00
400.00
4,068.42
1,556.01
1,380.00
9,961.00
1,440.00
1,000.00
750.00
934.57
4,288.32
2,015.39
430,486.47
130,767.44
28,800.00
1,810.00
SEGURIDAD Y MEDIO
AMBIENTE
GESTION SOCIAL
Salarios
2,500.00
673,178.43
FLUJO NETO
Err:509
APORTES PATRONALES
VIATICOS
Ingeniero Regional
Especialista Liniero
Especialista Liniero
Tecnico Mtto. De Lineas
Ingeniero Regional
24,000.00
12,000.00
12,000.00
12,000.00
21,600.00
81,600.00
7,290.40
3,645.20
3,645.20
3,645.20
6,561.36
24,787.36
12,000.00
14,400.00
14,400.00
4,374.24
4,374.24
2,400.00
Ingeniero Regional
24,000.00
Tecnico Operador
14,400.00
Tecnico Operador
14,400.00
Tecnico Operador
14,400.00
Tecnico Operador
14,400.00
Serv. Externo Operacin SE PUN6,000.00
OPERACIN
87,600.00
7,290.40
4,374.24
4,374.24
4,374.24
4,374.24
1,822.60
26,609.96
14,400.00
MANTENIMIENTO LT
1 Tecnico Mantenimiento SE
MANTENIMEINTO SE
1
2
3
4
5
6
9,113.00
976.26
1,665.40
1,447.59
21,871.20
5,103.28
25,516.40
1,153.82
4,943.45
3,205.48
74,995.88
430,486.47
130,767.44
28,800.00