ESTADO DE RESULTADOS

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año5 

Ingresos operacionales - Ventas $0.00 $758,534,200.00 $811,302,693.57 $869,506,360.11 $929,188,407.16 $989,604,237.40

Costo de mercancia Vendida $0.00 $493,047,230.00 $527,346,750.82 $565,179,134.07 $603,972,464.66 $643,242,754.31

Inventario inicial $0.00 $123,555,000.00 $41,087,269.17 $43,945,562.57 $47,098,261.17 $50,331,038.72

Compras $123,555,000.00 $410,579,499.17 $530,205,044.22 $568,331,832.68 $607,205,242.20 $646,515,278.44

Inventario final $123,555,000.00 $41,087,269.17 $43,945,562.57 $47,098,261.17 $50,331,038.72 $53,603,562.86

UTILIDAD BRUTA $0.00 $265,486,970.00 $283,955,942.75 $304,327,226.04 $325,215,942.51 $346,361,483.09

Gastos administrativos $0.00 $53,097,394.00 $56,791,188.55 $60,865,445.21 $65,043,188.50 $69,272,296.62

Gastos operativos $0.00 $75,853,420.00 $81,130,269.36 $86,950,636.01 $92,918,840.72 $98,960,423.74

Gastos por beneficios a empleados $0.00 $4,171,938.10 $4,462,164.81 $4,782,284.98 $5,110,536.24 $5,442,823.31

Gastos por depreciación $0.00 $10,000,000.00 $10,000,000.00 $10,000,000.00 $10,000,000.00 $10,000,000.00

UTILIDAD OPERATIVA $0.00 $122,364,217.90 $131,572,320.03 $141,728,859.84 $152,143,377.05 $162,685,939.43

Intereses $0.00 $9,198,000.00 $7,782,553.20 $6,181,116.69 $4,369,251.42 $2,319,307.05

Bonos $0.00 $4,500,000.00 $4,500,000.00 $4,500,000.00 $4,500,000.00 $4,500,000.00

Gastos financieros $0.00 $13,698,000.00 $12,282,553.20 $10,681,116.69 $8,869,251.42 $6,819,307.05

UTILIDAD ANTES DE IMPUESTOS $0.00 $108,666,217.90 $119,289,766.83 $131,047,743.15 $143,274,125.63 $155,866,632.37

Impuesto sobre la renta $0.00 $38,033,176.27 $41,751,418.39 $45,866,710.10 $50,145,943.97 $54,553,321.33

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE RESULTADOS

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año5 

UTILIDAD NETA DEL EJERCICIO $0.00 $70,633,041.64 $77,538,348.44 $85,181,033.05 $93,128,181.66 $101,313,311.04

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 VALORACIÓN DE LA EMPRESA

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Perpetuidad 

Utilidad operativa $0.00 $122,364,217.90 $131,572,320.03 $141,728,859.84 $152,143,377.05 $162,685,939.43

Tasa de impuesto (Tx) $0.00 $0.35 $0.35 $0.35 $0.35 $0.35

UODI $0.00 $79,536,741.64 $85,522,008.02 $92,123,758.90 $98,893,195.08 $105,745,860.63

Capital de trabajo operativo $123,555,000.00 $37,956,029.25 $31,490,192.82 $33,740,395.91 $36,069,934.86 $38,432,246.88

Inversión en capital de trabajo neto

$123,555,000.00 ($85,598,970.75) ($6,465,836.43) $2,250,203.09 $2,329,538.95 $2,362,312.03
operativo KTNO

Flujo de caja bruto $0.00 $89,536,741.64 $95,522,008.02 $102,123,758.90 $108,893,195.08 $115,745,860.63

Inversión neta en KTNO $123,555,000.00 ($85,598,970.75) ($6,465,836.43) $2,250,203.09 $2,329,538.95 $2,362,312.03

Inversión en activos fijos $100,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

Flujo de caja libre FCF $223,555,000.00 $3,937,770.89 $89,056,171.59 $104,373,961.98 $111,222,734.03 $118,108,172.65

Factor de descuento $1.00 $0.88 $0.77 $0.68 $0.60 $8.13

VP FCF $223,555,000.00 $3,459,461.92 $68,735,364.88 $70,772,820.02 $66,256,121.34 $960,633,230.41

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE SITUACIÓN FINANCIERA

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año5 

Activo Corriente $191,873,000.00 $344,997,060.24 $436,318,939.56 $525,959,134.34 $621,981,347.83 $694,314,588.30

Efectivo y equivalentes a efectivo $68,318,000.00 $265,983,081.08 $351,808,242.31 $435,385,555.17 $525,190,888.75 $591,230,813.58

Cuentas comerciales por cobrar y otras

$0.00 $37,926,710.00 $40,565,134.68 $43,475,318.01 $46,459,420.36 $49,480,211.87
cuentas por cobrar

Inventarios $123,555,000.00 $41,087,269.17 $43,945,562.57 $47,098,261.17 $50,331,038.72 $53,603,562.86

Activo no Corriente $100,000,000.00 $90,000,000.00 $80,000,000.00 $70,000,000.00 $60,000,000.00 $50,000,000.00

Propiedades, planta y equipo $100,000,000.00 $100,000,000.00 $100,000,000.00 $100,000,000.00 $100,000,000.00 $100,000,000.00

Depreciación $0.00 $10,000,000.00 $20,000,000.00 $30,000,000.00 $40,000,000.00 $50,000,000.00

Propiedades, planta y equipo neto $100,000,000.00 $90,000,000.00 $80,000,000.00 $70,000,000.00 $60,000,000.00 $50,000,000.00

TOTAL ACTIVO $291,873,000.00 $434,997,060.24 $516,318,939.56 $595,959,134.34 $681,981,347.83 $744,314,588.30

Pasivo Corriente $0.00 $79,091,126.18 $94,771,922.81 $102,699,893.37 $110,866,468.19 $119,204,849.17

Obligaciones financieras Corto plazo $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Proveedores y cuentas por pagar $0.00 $41,057,949.92 $53,020,504.42 $56,833,183.27 $60,720,524.22 $64,651,527.84

Impuesto sobre la renta $0.00 $38,033,176.27 $41,751,418.39 $45,866,710.10 $50,145,943.97 $54,553,321.33

Pasivo no corriente $100,000,000.00 $93,399,892.43 $81,502,626.67 $68,033,817.85 $52,761,274.86 $5,442,823.31

Pasivo por beneficio a empleados $0.00 $4,171,938.10 $4,462,164.81 $4,782,284.98 $5,110,536.24 $5,442,823.31

Pasivos financieros $70,000,000.00 $59,227,954.33 $47,040,461.85 $33,251,532.87 $17,650,738.62 $0.00

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE SITUACIÓN FINANCIERA

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año5 

Títulos emitidos – bonos en circulación $30,000,000.00 $30,000,000.00 $30,000,000.00 $30,000,000.00 $30,000,000.00 $0.00

TOTAL PASIVO $100,000,000.00 $172,491,018.61 $176,274,549.48 $170,733,711.22 $163,627,743.05 $124,647,672.48

Capital emitido $191,873,000.00 $191,873,000.00 $191,873,000.00 $191,873,000.00 $191,873,000.00 $191,873,000.00

Utilidad acumulada $0.00 $0.00 $70,633,041.64 $148,171,390.07 $233,352,423.12 $326,480,604.78

Utilidad del periodo $0.00 $70,633,041.64 $77,538,348.44 $85,181,033.05 $93,128,181.66 $101,313,311.04

TOTAL PATRIMONIO $191,873,000.00 $262,506,041.64 $340,044,390.07 $425,225,423.12 $518,353,604.78 $619,666,915.82

TOTAL PASIVO Y PATRIMONIO $291,873,000.00 $434,997,060.24 $516,318,939.56 $595,959,134.34 $681,981,347.83 $744,314,588.30

Cuadre ($0.00) $0.00 $0.00 $0.00 $0.00 $0.00

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS