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 $384,922,143.90 $411,699,791.73 $441,235,546.49 $471,521,513.17 $502,179,841.95

Inventario inicial $0.00 $5,000,000.00 $32,076,845.33 $34,308,315.98 $36,769,628.87 $39,293,459.43

Compras $5,000,000.00 $411,998,989.23 $413,931,262.38 $443,696,859.39 $474,045,343.72 $504,734,702.68

Inventario final $5,000,000.00 $32,076,845.33 $34,308,315.98 $36,769,628.87 $39,293,459.43 $41,848,320.16

UTILIDAD BRUTA $0.00 $164,966,633.10 $176,442,767.88 $189,100,948.50 $202,080,648.50 $215,219,932.26

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

Gastos por beneficios a empleados $0.00 $2,474,499.50 $2,646,641.52 $2,836,514.23 $3,031,209.73 $3,228,298.98

Gastos por depreciación $0.00 $25,000,000.00 $25,000,000.00 $25,000,000.00 $25,000,000.00 $25,000,000.00

UTILIDAD OPERATIVA $0.00 $71,505,480.36 $78,219,019.21 $85,624,054.87 $93,217,179.37 $100,903,660.37

Intereses $0.00 $15,175,000.00 $12,792,942.36 $10,121,702.93 $7,126,175.03 $3,766,990.04

Bonos $0.00 $18,750,000.00 $18,750,000.00 $18,750,000.00 $18,750,000.00 $18,750,000.00

Gastos financieros $0.00 $33,925,000.00 $31,542,942.36 $28,871,702.93 $25,876,175.03 $22,516,990.04

UTILIDAD ANTES DE IMPUESTOS $0.00 $37,580,480.36 $46,676,076.85 $56,752,351.94 $67,341,004.34 $78,386,670.33

Impuesto sobre la renta $0.00 $12,401,558.52 $15,403,105.36 $18,728,276.14 $22,222,531.43 $25,867,601.21

UTILIDAD NETA DEL EJERCICIO $0.00 $25,178,921.84 $31,272,971.49 $38,024,075.80 $45,118,472.91 $52,519,069.12

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 $71,505,480.36 $78,219,019.21 $85,624,054.87 $93,217,179.37 $100,903,660.37

Tasa de impuesto (Tx) $0.00 $0.33 $0.33 $0.33 $0.33 $0.33

UODI $0.00 $47,908,671.84 $52,406,742.87 $57,368,116.76 $62,455,510.18 $67,605,452.45

Capital de trabajo operativo $5,000,000.00 ($22,828,513.67) ($19,070,808.52) ($20,452,918.25) ($21,835,501.23) ($23,228,631.66)

Inversión en capital de trabajo neto operativo KTNO $5,000,000.00 ($27,828,513.67) $3,757,705.15 ($1,382,109.74) ($1,382,582.98) ($1,393,130.43)

Flujo de caja bruto $0.00 $72,908,671.84 $77,406,742.87 $82,368,116.76 $87,455,510.18 $92,605,452.45

Inversión neta en KTNO $5,000,000.00 ($27,828,513.67) $3,757,705.15 ($1,382,109.74) ($1,382,582.98) ($1,393,130.43)

Inversión en activos fijos $250,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00

Flujo de caja libre FCF $255,000,000.00 $45,080,158.17 $81,164,448.02 $80,986,007.03 $86,072,927.20 $91,212,322.02

Factor de descuento $1.00 $0.91 $0.82 $0.75 $0.68 $18.47

VP FCF $255,000,000.00 $40,916,193.84 $66,862,934.33 $60,553,517.44 $58,412,495.14 $1,684,447,624.95

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 $277,833,215.63 $315,662,710.90 $363,480,090.45 $415,686,823.97 $347,156,351.89

Efectivo y equivalentes a efectivo $145,000,000.00 $218,261,931.46 $251,947,266.94 $295,193,636.82 $342,713,256.46 $269,438,043.02

Cuentas comerciales por cobrar y otras cuentas por cobrar $0.00 $27,494,438.85 $29,407,127.98 $31,516,824.75 $33,680,108.08 $35,869,988.71

Inventarios $5,000,000.00 $32,076,845.33 $34,308,315.98 $36,769,628.87 $39,293,459.43 $41,848,320.16

Activo no Corriente $250,000,000.00 $225,000,000.00 $200,000,000.00 $175,000,000.00 $150,000,000.00 $125,000,000.00

Propiedades, planta y equipo $250,000,000.00 $250,000,000.00 $250,000,000.00 $250,000,000.00 $250,000,000.00 $250,000,000.00

Depreciación $0.00 $25,000,000.00 $50,000,000.00 $75,000,000.00 $100,000,000.00 $125,000,000.00

Propiedades, planta y equipo neto $250,000,000.00 $225,000,000.00 $200,000,000.00 $175,000,000.00 $150,000,000.00 $125,000,000.00

TOTAL ACTIVO $400,000,000.00 $502,833,215.63 $515,662,710.90 $538,480,090.45 $565,686,823.97 $472,156,351.89

Pasivo Corriente $0.00 $94,801,356.36 $98,189,357.84 $107,467,648.02 $117,031,600.18 $126,814,541.75

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

Proveedores y cuentas por pagar $0.00 $82,399,797.85 $82,786,252.48 $88,739,371.88 $94,809,068.74 $100,946,940.54

Impuesto sobre la renta $0.00 $12,401,558.52 $15,403,105.36 $18,728,276.14 $22,222,531.43 $25,867,601.21

Pasivo no corriente $250,000,000.00 $232,852,937.42 $211,021,459.73 $186,536,473.30 $159,060,781.76 $3,228,298.98

Pasivo por beneficio a empleados $0.00 $2,474,499.50 $2,646,641.52 $2,836,514.23 $3,031,209.73 $3,228,298.98

Pasivos financieros $125,000,000.00 $105,378,437.93 $83,374,818.22 $58,699,959.07 $31,029,572.03 $0.00

Títulos emitidos – bonos en circulación $125,000,000.00 $125,000,000.00 $125,000,000.00 $125,000,000.00 $125,000,000.00 $0.00

TOTAL PASIVO $250,000,000.00 $327,654,293.79 $309,210,817.57 $294,004,121.32 $276,092,381.93 $130,042,840.73

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

Utilidad acumulada $0.00 $0.00 $25,178,921.84 $56,451,893.33 $94,475,969.13 $139,594,442.04

Utilidad del periodo $0.00 $25,178,921.84 $31,272,971.49 $38,024,075.80 $45,118,472.91 $52,519,069.12

TOTAL PATRIMONIO $150,000,000.00 $175,178,921.84 $206,451,893.33 $244,475,969.13 $289,594,442.04 $342,113,511.16

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS

 ESTADO DE SITUACIÓN FINANCIERA

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

TOTAL PASIVO Y PATRIMONIO $400,000,000.00 $502,833,215.63 $515,662,710.90 $538,480,090.45 $565,686,823.97 $472,156,351.89

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

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS