x Viña Concha y Toro

RUT 90227000 - 0
12/31/2022 % Var % 12/31/2021 %
sobre sobre
M$ total M$ total
Activo Circulante
Disponible 33,791,676 2.1% -47.2% 64,006,655 4.4%
Inversiones Financieras 13,609,070 0.9% 11.6% 12,197,892 0.8%
Cuentas por cobrar Giro 253,314,587 16.0% -0.2% 253,706,485 17.6%
Existencias 411,139,331 26.0% 16.8% 352,064,738 24.4%
Impuestos por recuperar 28,771,845 1.8% -13.2% 33,139,469 2.3%
Otros activos circulantes 43,809,360 2.8% 23.2% 35,563,600 2.5%
Total 784,435,869 49.6% 4.5% 750,678,839 52.0%
Activo Fijo
terrenos 0.0% 0.0% 0.0%
Bienes raíces e instalaciones 0 0.0% 0.0% 0.0%
Maquinarias y equipos 0.0% 0.0% 0.0%
Equipos computacionales 0.0% 0.0% 0.0%
Vehículos 0.0% 0.0% 0.0%
Muebles y útiles 0.0% 0.0% 0.0%
Otros Activos Fijos 683,363,989 43.2% 9.8% 622,287,696 43.1%
depreciacion 0.0% 0.0% 0.0%
Total 683,363,989 43.2% 9.8% 622,287,696 43.1%
Otros Activos
documentos en garantía 0.0% 0.0% 0.0%
Deudores largo plazo 4,697,872 0.3% 32.7% 3,539,835 0.2%
Anticipos de sueldo y préstamos al
personal 0.0% 0.0% 0.0%
Anticipo a terceros 0.0% 0.0% 0.0%
Otros activos 109,282,050 6.9% 61.0% 67,889,139 4.7%
Ctas x cobrar relacionados 0 0.0% 0.0% 0 0.0%
Inversiones en empresas relacionadas
0 0.0% 0.0% 0 0.0%
Otros activos diferidos 0.0% 0.0% 0.0%
Total 113,979,922 7.2% 59.6% 71,428,974 4.9%
Total Activos 1,581,779,780 100.0% 9.5% 1,444,395,509 100.0%
Pasivos

Pasivo Circulante
Bancos e Inst Financieras 157,717,682 10.0% 18.1% 133,497,008 9.2%
Proveedores/Cuentas por pagar 2,362,511 0.1% 74.8% 1,351,531 0.1%
Factoring 0.0% 0.0% 0.0%
Anticipo Clientes 0.0% 0.0% 0.0%
Remuneraciones, isapres, afp 0.0% 0.0% 0.0%
Cuentas por pagar empresas
relacionadas 8,541,676 0.5% -9.5% 9,438,874 0.7%
Provisiones 38,760,013 2.5% -1.0% 39,157,762 2.7%
Otras ctas x pagar 21,581,590 1.4% -5.6% 22,857,225 1.6%
Cuentas por pagar empresas
relacionadas 173,853,544 11.0% 4.4% 166,514,668 11.5%
Impuesto x pagar 0.0% 0.0% 0.0%
otros pasivos corto plazo 39,822,511 2.5% 105.9% 19,341,764 1.3%
Total 442,639,527 28.0% 12.9% 392,158,832 27.2%

Pasivo largo Plazo

Bancos e Inst Financieras 281,928,903 17.8% -5.2% 297,273,509 20.6%
Leasing 0.0% 0.0% 0.0%
Indemnización por años de servicio
0.0% 0.0% 0.0%
Otros pasivos l/p 93,102,622 5.9% 2.9% 90,457,975 6.3%
Total 375,031,525 23.7% -3.3% 387,731,484 26.8%
Total Pasivo Exigible 817,671,052 51.7% 4.8% 779,890,316 54.0%
Patrimonio
Capital 84,178,790 5.3% 0.0% 84,178,790 5.8%
Reservas 13,654,489 0.9% -139.8% -34,303,642 -2.4%
Resultados Acumulados 676,423,359 42.8% 8.4% 624,190,604 43.2%
Ctas corrientes socios (-) -10,147,910 -0.6% 6.1% -9,560,559 -0.7%
Resultado Ejercicio 0.0% 0.0% 0.0%
Total 764,108,728 48.3% 15.0% 664,505,193 46.0%

Total Pasivos 1,581,779,780 100.0% 9.5% 1,444,395,509 100.0%

Diferencia ( A-P) 0 0

Estado Resultados
Ventas 873,489,889 100.0% 3.4% 844,881,775 100.0%
Costo Venta 711,564,571 81.5% 8.0% 659,027,536 78.0%
Margen Operacional 161,925,318 18.5% -12.9% 185,854,239 22.0%

Gastos Adm y Ventas 57,052,119 6.5% 7.8% 52,942,066 6.3%

Resultado Operacional Bruto 104,873,199 12.0% -21.1% 132,912,173 15.7%

Depreciación 0 0.0% 0.0% 0 0.0%

Resultado Operacional neto 104,873,199 12.0% -21.1% 132,912,173 15.7%

Resultado no Operacional
Ingresos 12,414,378 1.4% 24.4% 9,981,831 1.2%
Ingresos financieros 0.0% 0.0% 1.2%
Interes y gastos bancarios 0.0% 0.0% 0.0%
Egresos 15,564,182 1.8% 19.2% 13,060,426 1.5%
Total -3,149,804 -0.4% 2.3% -3,078,595 -0.4%

Corrección Monetaria 0.0% 0.0% 0.0%

Utlidad antes Impuesto 101,723,395 11.6% -21.7% 129,833,578 15.4%

Impuesto -12,740,199 -1.5% -56.3% -29,139,260 -3.4%

Utlidad después de Impuesto 88,983,196 10.2% -11.6% 100,694,318 11.9%

N° meses 12 12
Indices
LIQUIDEZ
Razón Corriente 1.77 1.91
Prueba Ácida 0.84 1.02

Permanencia Ctas x Cobrar ( meses) 3.48 3.60

Permanencia Existencias ( meses) 6.93 6.41
Ciclo Operacional

Permanencia Ctas x Pagar ( meses ) 0.04 0.02

Rotación de Activos

ENDEUDAMIENTO
Coeficiente Endeudamiento 51.69% 53.99%
Leverage ( veces) 1.07 1.17
Endeudamiento Largo Plazo 45.87% 49.72%

RENTABILIDAD
Rentabilidad sobre patrimonio 11.65% 15.15%
Rentabilidd operacional 12.01% 15.73%
Rentabilidad sobre activos 5.63% 6.97%

COBERTURA
Flujo operacional neto 117,287,577 142,894,004
Carga financiera total anual 0 0
Flujo de equilibrio M$ 0 0
% flujo equilibrio sobre ventas 0.00% 0.00%
Carga financieras/flujo operacional
neto 0.00% 0.00%
º
Var % %
sobre
M$ total

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% 0.0%
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% 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%
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% 0.0%
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%
0.0% 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%

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%
0.0% 0 0.0%

12

0.00
0.00

0.00
0.00

0.00

0.00%
0.00
0.00%

0.00%
0.00%
0.00%

0
0.00%

0.00%
Escenario 1 Sin Proyecto

Crecimiento Ventas 1% 2022 2021

Costo Ventas 79.7% 81.46% 78.00%
Crecimiento Gav 6.4%

2022 2021 1 2
Ventas 873,489,889 844,881,775 3.4% 882,224,788 891,047,036
C.Ventas 711,564,571 659,027,536 7.97% 703,133,156 710,164,488
Ut Bruta 161,925,318 185,854,239 179,091,632 180,882,548
Depreciación 0 0
Gav 6.5% 57,052,119 52,942,066 6.3% 56,462,386 57,027,010
Ut Operacional 104,873,199 132,912,173 122,629,246 123,855,538
Otros Ingresos y Egresos ( menos) 3,149,804 3,078,595 2.3% 2,820,473 2,848,677
Diferencia de Cambio
Utilidad por Unidades Reaj
Ut ant Impuesto 101,723,395 129,833,578 -21.7% 119,808,773 121,006,861
Impuesto 27% ( menos) 12,740,199 29,139,260 -56.30% 32,348,369 32,671,852
Ut del Ejercicio 88,983,196 100,694,318 -11.63% 87,460,404 88,335,008

Flujo de Caja 87,460,404 88,335,008

Flujo Final 87,460,404 88,335,008
Flujo Acumulado 87,460,404 175,795,412

Inversión Inicial 600.00.000

Flujo de Caja

Costo Capital 20.175%

Escenario 2 Pesimista

Crecimiento Ventas 2% 2022 2021

Costo Ventas 79.7% 81.46% 78.00%
Crecimiento Gav 6.4%

2022 2021 1 2
Ventas 873,489,889 844,881,775 3.4% 890,959,687 908,778,881
C.Ventas 711,564,571 659,027,536 7.97% 710,094,870 724,296,768
Ut Bruta 161,925,318 185,854,239 180,864,816 184,482,113
Depreciación 0 0
Gav 6.5% 57,052,119 52,942,066 6.3% 57,021,420 58,161,848
Ut Operacional 104,873,199 132,912,173 123,843,396 126,320,264
Otros Ingresos y Egresos ( menos) 3,149,804 3,078,595 2.3% 2,848,398 2,905,366
Diferencia de Cambio
Utilidad por Unidades Reaj
Ut ant Impuesto 101,723,395 129,833,578 -21.7% 120,994,998 123,414,898
Impuesto 27% ( menos) 12,740,199 29,139,260 -56.30% 32,668,650 33,322,023
Ut del Ejercicio 88,983,196 100,694,318 -11.63% 88,326,349 90,092,876

Flujo de Caja 88,326,349 90,092,876

Flujo Final 88,326,349 90,092,876

Flujo Acumulado 88,326,349 178,419,225

Flujo diferencial 865,945 2,623,812

INVERSION INICIAL 600,000,000

FLUJO CAJA -100,000,000 $ 865,945 $ 2,623,812 $ 5,300,187 $ 8,922,273 $ 13,517,906

Costo Capital 20.18%

Van $615,262,105.53
Tir -24%

Escenario 3 CONSERVADOR

Crecimiento Ventas 4% 2022 2021

Costo Ventas 79.7% 81.46% 78.00%
Crecimiento Gav 6.4%

2022 2021 1 2
Ventas 873,489,889 844,881,775 3.4% 908,429,485 944,766,664
C.Ventas 711,564,571 659,027,536 7.97% 724,018,299 752,979,031
Ut Bruta 161,925,318 185,854,239 184,411,185 191,787,633
Depreciación 0 0
Gav 6.5% 57,052,119 52,942,066 6.3% 58,139,487 60,465,066
Ut Operacional 104,873,199 132,912,173 126,271,698 131,322,566
Otros Ingresos y Egresos ( menos) 3,149,804 3,078,595 2.3% 2,904,249 3,020,419
Diferencia de Cambio
Utilidad por Unidades Reaj
Ut ant Impuesto 101,723,395 129,833,578 -21.7% 123,367,449 128,302,147
Impuesto 27% ( menos) 12,740,199 29,139,260 -56.30% 33,309,211 34,641,580
Ut del Ejercicio 88,983,196 100,694,318 -11.63% 90,058,238 93,660,568

Flujo de Caja 90,058,238 93,660,568

Flujo Final 90,058,238 93,660,568
Flujo Acumulado 90,058,238 183,718,805
Flujo diferencial 89,192,293 181,094,993

INVERSION INICIAL 600,000,000

FLUJO CAJA -100,000,000 $ 89,192,293 $ 181,094,993 $ 275,825,609 $ 373,506,792 $ 474,266,560

Costo Capital 20.18%

Van $1,326,829,354.94
Tir 146%

Escenario 4 OPTIMISTA

Crecimiento Ventas 6% 2022 2021

Costo Ventas 79.7% 81.46% 78.00%
Crecimiento Gav 6.4%

2022 2021 1 2
Ventas 873,489,889 844,881,775 3.4% 925,899,282 981,453,239
C.Ventas 711,564,571 659,027,536 7.97% 737,941,728 782,218,232
Ut Bruta 161,925,318 185,854,239 187,957,554 199,235,008
Depreciación 0 0
Gav 6.5% 57,052,119 52,942,066 6.3% 59,257,554 62,813,007
Ut Operacional 104,873,199 132,912,173 128,700,000 136,422,000
Otros Ingresos y Egresos ( menos) 3,149,804 3,078,595 2.3% 2,960,100 3,137,706
Diferencia de Cambio
Utilidad por Unidades Reaj
Ut ant Impuesto 101,723,395 129,833,578 -21.7% 125,739,900 133,284,294
Impuesto 27% ( menos) 12,740,199 29,139,260 -56.30% 33,949,773 35,986,759
Ut del Ejercicio 88,983,196 100,694,318 -11.63% 91,790,127 97,297,535

Flujo de Caja 91,790,127 97,297,535

Flujo Final 91,790,127 97,297,535
Flujo Acumulado 91,790,127 189,087,662
Flujo diferencial -281,716,665 -285,178,898

INVERSION INICIAL 600,000,000

FLUJO CAJA -100,000,000 $ -281,716,665 $ -285,178,898 $ 292,223,049 $ 401,546,559 $ 517,429,480

Costo Capital 20.18%

Van $735,441,516.16
Tir 23%
 3 4 5
899,957,506 908,957,081 918,046,652
717,266,132 724,438,794 731,683,182
182,691,374 184,518,287 186,363,470

57,597,280 58,173,253 58,754,986

125,094,093 126,345,034 127,608,485
2,877,164 2,905,936 2,934,995

122,216,929 123,439,098 124,673,489

32,998,571 33,328,557 33,661,842
89,218,358 90,110,542 91,011,647

89,218,358 90,110,542 91,011,647

89,218,358 90,110,542 91,011,647
265,013,771 355,124,313 446,135,960
 3 4 5
926,954,458 945,493,547 964,403,418
738,782,703 753,558,357 768,629,524
188,171,755 191,935,190 195,773,894

59,325,085 60,511,587 61,721,819

128,846,670 131,423,603 134,052,075
2,963,473 3,022,743 3,083,198

125,883,196 128,400,860 130,968,877

33,988,463 34,668,232 35,361,597
91,894,733 93,732,628 95,607,281

91,894,733 93,732,628 95,607,281

91,894,733 93,732,628 95,607,281

270,313,958 364,046,586 459,653,866

5,300,187 8,922,273 13,517,906

 3 4 5
982,557,331 1,021,859,624 1,062,734,009
783,098,192 814,422,120 846,999,005
199,459,138 207,437,504 215,735,004

62,883,669 65,399,016 68,014,977

136,575,469 142,038,488 147,720,027
3,141,236 3,266,885 3,397,561

133,434,233 138,771,602 144,322,467

36,027,243 37,468,333 38,967,066
97,406,990 101,303,270 105,355,401

97,406,990 101,303,270 105,355,401

97,406,990 101,303,270 105,355,401
281,125,796 382,429,065 487,784,466
275,825,609 373,506,792 474,266,560
 3 4 5
1,040,340,434 1,102,760,860 1,168,926,511
829,151,326 878,900,405 931,634,429
211,189,108 223,860,455 237,292,082

66,581,788 70,576,695 74,811,297

144,607,320 153,283,759 162,480,785
3,325,968 3,525,526 3,737,058

141,281,352 149,758,233 158,743,727

38,145,965 40,434,723 42,860,806
103,135,387 109,323,510 115,882,921

103,135,387 109,323,510 115,882,921

103,135,387 109,323,510 115,882,921
292,223,049 401,546,559 517,429,480
292,223,049 401,546,559 517,429,480
Escenario 1 Sin Proyecto

Crecimiento Ventas 2% 2022 2021

Costo Ventas 79.7% 81.46% 78.00%

Crecimiento Gav 6.4%

2022 2021
Ventas 873,489,889 844,881,775 3.4%
C.Ventas 711,564,571 659,027,536 7.97%
Ut Bruta 161,925,318 185,854,239
Depreciación 0 0
Gav 6.5% 57,052,119 52,942,066 6.3%
Ut Operacional 104,873,199 132,912,173
Otros Ingresos y Egresos ( menos) 3,149,804 3,078,595 2.3%
Diferencia de Cambio
Utilidad por Unidades Reaj
Ut ant Impuesto 101,723,395 129,833,578 -21.7%
Impuesto 27% ( menos) 12,740,199 29,139,260 -56.30%
Ut del Ejercicio 88,983,196 100,694,318 -11.63%

Flujo de Caja
Flujo Final
Flujo Acumulado
Flujo diferenci al

INVERSION INICIAL 600,000

FLUJO CAJA -100,000,000

Inversión Inicial 600.00.000

Flujo de Caja

Costo Capital 20.175%

 1 2 3 4 5
890,959,687 908,778,881 926,954,458 945,493,547 964,403,418
710,094,870 724,296,768 738,782,703 753,558,357 768,629,524
180,864,816 184,482,113 188,171,755 191,935,190 195,773,894

57,021,420 58,161,848 59,325,085 60,511,587 61,721,819

123,843,396 126,320,264 128,846,670 131,423,603 134,052,075
2,848,398 2,905,366 2,963,473 3,022,743 3,083,198

120,994,998 123,414,898 125,883,196 128,400,860 130,968,877

32,668,650 33,322,023 33,988,463 34,668,232 35,361,597
88,326,349 90,092,876 91,894,733 93,732,628 95,607,281

88,326,349 90,092,876 91,894,733 93,732,628 95,607,281

88,326,349 90,092,876 91,894,733 93,732,628 95,607,281
88,326,349 178,419,225 270,313,958 364,046,586 459,653,866
 Inversión Inicial 1 2 3
-600,000,000 865,945 2,623,812 5,300,187

Tasa de descuento 20.175%

TIR -49%
VAN -584737894
 4 5
8,922,273 13,517,906