ESTADO DE RESULTADOS

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

Ingresos operacionales - Ventas $0.00 $549,888,777.00 $588,142,559.62 $630,336,494.99 $673,602,161.67 $717,399,774.22

Costo de mercancia Vendida $0.00 $329,933,266.20 $352,885,535.77 $378,201,896.99 $404,161,297.00 $430,439,864.53

Inventario inicial $0.00 $5,000,000.00 $27,494,438.85 $29,407,127.98 $31,516,824.75 $33,680,108.08

Compras $5,000,000.00 $352,427,705.05 $354,798,224.90 $380,311,593.76 $406,324,580.33 $432,629,745.16

Inventario final $5,000,000.00 $27,494,438.85 $29,407,127.98 $31,516,824.75 $33,680,108.08 $35,869,988.71

UTILIDAD BRUTA $0.00 $219,955,510.80 $235,257,023.85 $252,134,597.99 $269,440,864.67 $286,959,909.69

Gastos administrativos $0.00 $38,492,214.39 $41,169,979.17 $44,123,554.65 $47,152,151.32 $50,217,984.20

Gastos operativos $0.00 $54,988,877.70 $58,814,255.96 $63,033,649.50 $67,360,216.17 $71,739,977.42

Gastos por beneficios a empleados $0.00 $3,024,388.27 $3,234,784.08 $3,466,850.72 $3,704,811.89 $3,945,698.76

Gastos por depreciación $0.00 $20,000,000.00 $20,000,000.00 $20,000,000.00 $20,000,000.00 $20,000,000.00

UTILIDAD OPERATIVA $0.00 $103,450,030.44 $112,038,004.63 $121,510,543.12 $131,223,685.29 $141,056,249.31

Intereses $0.00 $11,140,000.00 $9,356,220.34 $7,373,727.63 $5,170,385.23 $2,721,590.48

Bonos $0.00 $15,000,000.00 $15,000,000.00 $15,000,000.00 $15,000,000.00 $15,000,000.00

Gastos financieros $0.00 $26,140,000.00 $24,356,220.34 $22,373,727.63 $20,170,385.23 $17,721,590.48

UTILIDAD ANTES DE IMPUESTOS $0.00 $77,310,030.44 $87,681,784.29 $99,136,815.50 $111,053,300.07 $123,334,658.83

Impuesto sobre la renta $0.00 $26,285,410.35 $29,811,806.66 $33,706,517.27 $37,758,122.02 $41,933,784.00

UTILIDAD NETA DEL EJERCICIO $0.00 $51,024,620.09 $57,869,977.63 $65,430,298.23 $73,295,178.05 $81,400,874.83

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 VALORACIÓN DE LA EMPRESA

Variable  Año 0  Año 1  Año 2  Año 3  Año 4  Año 5 (Perpetuidad)



Utilidad operativa $0.00 $103,450,030.44 $112,038,004.63 $121,510,543.12 $131,223,685.29 $141,056,249.31

Tasa de impuesto (Tx) $0.00 $0.34 $0.34 $0.34 $0.34 $0.34

UODI $0.00 $68,277,020.09 $73,945,083.06 $80,196,958.46 $86,607,632.29 $93,097,124.55

Capital de trabajo operativo $5,000,000.00 $11,997,775.54 $17,261,738.96 $18,488,155.50 $19,775,408.18 $21,084,017.10

Inversión en capital de trabajo neto operativo KTNO $5,000,000.00 $6,997,775.54 $5,263,963.42 $1,226,416.53 $1,287,252.69 $1,308,608.92

Flujo de caja bruto $0.00 $88,277,020.09 $93,945,083.06 $100,196,958.46 $106,607,632.29 $113,097,124.55

Inversión neta en KTNO $5,000,000.00 $6,997,775.54 $5,263,963.42 $1,226,416.53 $1,287,252.69 $1,308,608.92

Inversión en activos fijos $200,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

Flujo de caja libre FCF $205,000,000.00 $95,274,795.63 $99,209,046.48 $101,423,375.00 $107,894,884.98 $114,405,733.46

Factor de descuento $1.00 $0.92 $0.84 $0.77 $0.70 $26.07

VP FCF $205,000,000.00 $87,248,620.53 $83,197,899.57 $77,889,638.47 $75,879,249.99 $2,983,024,442.26

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE SITUACIÓN FINANCIERA

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

Activo Corriente $150,000,000.00 $304,807,574.99 $369,092,284.31 $443,973,376.46 $524,778,718.23 $511,426,380.62

Efectivo y equivalentes a efectivo $145,000,000.00 $222,324,258.44 $280,870,900.37 $349,422,902.21 $423,738,393.98 $403,816,414.48

Cuentas comerciales por cobrar y otras cuentas por cobrar $0.00 $54,988,877.70 $58,814,255.96 $63,033,649.50 $67,360,216.17 $71,739,977.42

Inventarios $5,000,000.00 $27,494,438.85 $29,407,127.98 $31,516,824.75 $33,680,108.08 $35,869,988.71

Activo no Corriente $200,000,000.00 $180,000,000.00 $160,000,000.00 $140,000,000.00 $120,000,000.00 $100,000,000.00

Propiedades, planta y equipo $200,000,000.00 $200,000,000.00 $200,000,000.00 $200,000,000.00 $200,000,000.00 $200,000,000.00

Depreciación $0.00 $20,000,000.00 $40,000,000.00 $60,000,000.00 $80,000,000.00 $100,000,000.00

Propiedades, planta y equipo neto $200,000,000.00 $180,000,000.00 $160,000,000.00 $140,000,000.00 $120,000,000.00 $100,000,000.00

TOTAL ACTIVO $350,000,000.00 $484,807,574.99 $529,092,284.31 $583,973,376.46 $644,778,718.23 $611,426,380.62

Pasivo Corriente $0.00 $96,770,951.36 $100,771,451.64 $109,768,836.02 $119,023,038.09 $128,459,733.03

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

Proveedores y cuentas por pagar $0.00 $70,485,541.01 $70,959,644.98 $76,062,318.75 $81,264,916.07 $86,525,949.03

Impuesto sobre la renta $0.00 $26,285,410.35 $29,811,806.66 $33,706,517.27 $37,758,122.02 $41,933,784.00

Pasivo no corriente $200,000,000.00 $187,012,003.54 $169,426,234.95 $149,879,644.49 $128,135,606.14 $3,945,698.76

Pasivo por beneficio a empleados $0.00 $3,024,388.27 $3,234,784.08 $3,466,850.72 $3,704,811.89 $3,945,698.76

Pasivos financieros $100,000,000.00 $83,987,615.27 $66,191,450.87 $46,412,793.76 $24,430,794.25 ($0.00)

Títulos emitidos – bonos en circulación $100,000,000.00 $100,000,000.00 $100,000,000.00 $100,000,000.00 $100,000,000.00 $0.00

TOTAL PASIVO $200,000,000.00 $283,782,954.90 $270,197,686.59 $259,648,480.51 $247,158,644.23 $132,405,431.79

Capital emitido $150,000,000.00 $150,000,000.00 $150,000,000.00 $150,000,000.00 $150,000,000.00 $150,000,000.00

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE SITUACIÓN FINANCIERA

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

Utilidad acumulada $0.00 $0.00 $51,024,620.09 $108,894,597.72 $174,324,895.95 $247,620,074.00

Utilidad del periodo $0.00 $51,024,620.09 $57,869,977.63 $65,430,298.23 $73,295,178.05 $81,400,874.83

TOTAL PATRIMONIO $150,000,000.00 $201,024,620.09 $258,894,597.72 $324,324,895.95 $397,620,074.00 $479,020,948.82

TOTAL PASIVO Y PATRIMONIO $350,000,000.00 $484,807,574.99 $529,092,284.31 $583,973,376.46 $644,778,718.23 $611,426,380.62

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

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS