#REF!

ESTADO DE RESULTADOS PROYECTADO A 20 AÑOS DE VIDA DEL PROYECTO.

CONCEPTO/PERIODO Proyectados
2024 2025 2026 2027 2028

INGRESOS POR VENTAS 11,830,715 26,229,571 52,165,264 82,162,220 110,228,691

% Crecimiento de Ingresos 121.7% 98.9% 57.5% 34.2%
COSTOS Y GASTOS OPERATIVOS 7,335,043 16,000,038 31,299,159 49,297,332 65,034,928

EBITDA 4,495,672 10,229,533 20,866,106 32,864,888 45,193,763

IRU 683,992 15,593,992 4,130,510 2,156,510 2,156,510
EBITDA NETO 5,179,664 25,823,525 24,996,615 35,021,398 47,350,273

DEPRECIACION Y AMORTIZACION 655,000 1,740,809 4,010,532 5,985,751 7,574,158

GASTOS FINANCIEROS
INTERESES 399,480 1,459,163 1,454,699 1,324,351 1,183,885

UTILIDADES ANTES DE IMPUESTOS 4,125,184 22,623,552 19,531,385 27,711,296 38,592,230

ISR (0%) 1,031,296 5,655,888 4,882,846 6,927,824 9,648,058

25.0% 25.0% 25.0% 25.0% 25.0%
UTILIDAD NETA 3,093,888 16,967,664 14,648,539 20,783,472 28,944,173

7,600,664.54 15,888,061.09 13,826,527.96 11,118,852.93 11,546,642.10

Proyectados
2029 2030 2031 2032 2033

139,995,136 170,729,063 197,571,968 221,313,394 243,111,337

27.0% 22.0% 15.7% 12.0% 9.8%
82,597,130 100,730,147 114,591,741 128,361,768 141,004,575

57,398,006 69,998,916 82,980,227 92,951,625 102,106,762

1,555,178 1,555,178 1,555,178 1,581,819 1,581,819
58,953,183 71,554,094 84,535,404 94,533,445 103,688,581

9,223,678 10,966,945 12,816,596 14,730,429 16,636,251

1,032,513 869,391 693,604 504,171 300,032

48,696,992 59,717,757 71,025,204 79,298,844 86,752,297

12,174,248 14,929,439 17,756,301 19,824,711 21,688,074

25.0% 25.0% 25.0% 25.0% 25.0%
36,522,744 44,788,318 53,268,903 59,474,133 65,064,223

12,202,868.97 12,947,551.57 13,396,837.25 13,340,752.45 14,133,049.47

TELECOMUNICATION CORP
Estructura Financiera
Inversion diferida
Inversiones en activo Fijo
Inversiones en activo Fijo
Inversiones en activo Fijo
Inversiones en activo Fijo
Inversiones en activo Fijo
Inversiones en activo Fijo
Inversiones en activo Fijo
Inversiones en activo Fijo
Inversiones en activo Fijo
Inversiones en activo Fijo
TOTAL
 7,600,665
15,888,061
13,826,528
11,118,853
11,546,642
12,202,869
12,947,552
13,396,837
13,340,752
14,133,049
126,001,808.35

Escenario 1
Tasa de Descuento 12.00%

Switch 1
Escenario 1 ( conservador- pesimista) 12.00%
Escenario 2 (Optimista) 10.00%
 #REF!

Resumen de Interes por año

año 1 año 2 año 3
Prestamo 1
Prestamo 2
Prestamo 3
Saldo

Prestamo 1 399,479.8 369,672.6 337,551.4

Prestamo 2 1,089,490.4 1,008,198.1
Prestamo 3 108,949.0
Intereses 399,479.8 1,459,163.0 1,454,698.6

Resumen de Cuota por año

año 1 año 2 año 3
Prestamo 383,951.9 413,759.0 445,880.2
Prestamo 1,047,141.5 1,128,433.8
Prestamo 104,714.1
Abono a Capital 383,951.9 1,460,900.5 1,679,028.2

Total Abonos ( int +Capital) 783,431.68 2,920,063.52 3,133,726.71

Switch 2
Intereses
Escenario 1 ( conservador- pesimista) 7.5%
Escenario 2 (Optimista) 6.00%

Switch 2

Escenario 1 ( conservador- pesimista) Total deuda

Escenario 2 (Optimista) Prestamos con Subsidios unicamente
año 4 año 5 año 6 año 7 año 8 año 9

302,936.6 265,634.5 225,436.6 182,118.0 135,436.4 85,130.9

920,594.8 826,190.7 724,457.8 614,827.0 496,685.4 369,372.1
100,819.8 92,059.5 82,619.1 72,445.8 61,482.7 49,668.5
1,324,351.2 1,183,884.7 1,032,513.4 869,390.8 693,604.5 504,171.5

año 4 año 5 año 6 año 7 año 8 año 9

480,495.1 517,797.2 557,995.1 601,313.7 647,995.3 698,300.8
1,216,037.0 1,310,441.1 1,412,174.1 1,521,804.8 1,639,946.5 1,767,259.8
112,843.4 121,603.7 131,044.1 141,217.4 152,180.5 163,994.6
1,809,375.5 1,949,842.0 2,101,213.3 2,264,335.9 2,440,122.2 2,629,555.3

3,133,726.71 3,133,726.71 3,133,726.71 3,133,726.71 3,133,726.71 3,133,726.71

año 10
-
2,052,304.7
395,676.1
2,447,980.8

30,920.0
232,175.1
36,937.2
300,032.2

año 10
752,511.7
1,904,456.8
176,726.0
2,833,694.5

3,133,726.71
 Monto del crédito: $5,500,000.00 # Pago Pago Interés
Tasa de interés (anual): 7.50% 1 $34,375.00
Número de pagos (mensuales): 120 2 $34,181.81
Pago (mensual): $65,285.97 3 $33,987.41
4 $33,791.79
5 $33,594.95
6 $33,396.88
7 $33,197.57
8 $32,997.02
9 $32,795.22
10 $32,592.15
11 $32,387.81
12 $32,182.20
13 $31,975.30
14 $31,767.11
15 $31,557.62
16 $31,346.81
17 $31,134.69
18 $30,921.25
19 $30,706.47
20 $30,490.35
21 $30,272.87
22 $30,054.04
23 $29,833.84
24 $29,612.27
25 $29,389.31
26 $29,164.95
27 $28,939.20
28 $28,712.03
29 $28,483.44
30 $28,253.43
31 $28,021.97
32 $27,789.07
33 $27,554.72
34 $27,318.90
35 $27,081.60
36 $26,842.82
37 $26,602.56
38 $26,360.78
39 $26,117.50
40 $25,872.70
41 $25,626.37
42 $25,378.49
43 $25,129.07
44 $24,878.09
45 $24,625.54
46 $24,371.41
47 $24,115.70
48 $23,858.38
49 $23,599.46
50 $23,338.92
51 $23,076.75
52 $22,812.94
53 $22,547.49
54 $22,280.37
55 $22,011.59
56 $21,741.12
57 $21,468.97
58 $21,195.11
59 $20,919.54
60 $20,642.25
61 $20,363.23
62 $20,082.46
63 $19,799.94
64 $19,515.65
65 $19,229.59
66 $18,941.74
67 $18,652.08
68 $18,360.62
69 $18,067.34
70 $17,772.22
71 $17,475.26
72 $17,176.44
73 $16,875.76
74 $16,573.20
75 $16,268.74
76 $15,962.38
77 $15,654.11
78 $15,343.91
79 $15,031.77
80 $14,717.68
81 $14,401.63
82 $14,083.61
83 $13,763.59
84 $13,441.58
85 $13,117.55
86 $12,791.50
87 $12,463.41
88 $12,133.26
89 $11,801.06
 90 $11,466.78
91 $11,130.41
92 $10,791.94
93 $10,451.35
94 $10,108.63
95 $9,763.77
96 $9,416.76
97 $9,067.58
98 $8,716.21
99 $8,362.65
100 $8,006.88
101 $7,648.89
102 $7,288.66
103 $6,926.17
104 $6,561.42
105 $6,194.40
106 $5,825.07
107 $5,453.44
108 $5,079.49
109 $4,703.20
110 $4,324.56
111 $3,943.55
112 $3,560.16
113 $3,174.37
114 $2,786.17
115 $2,395.55
116 $2,002.48
117 $1,606.96
118 $1,208.97
119 $808.49
120 $405.50
Pago Capital Saldo
$30,910.97 $5,469,089.03 3.5 4.5
$31,104.17 $5,437,984.86
$31,298.57 $5,406,686.29
$31,494.18 $5,375,192.11
$31,691.02 $5,343,501.09
$31,889.09 $5,311,612.00
$32,088.40 $5,279,523.60
$32,288.95 $5,247,234.65
$32,490.76 $5,214,743.89
$32,693.82 $5,182,050.07
$32,898.16 $5,149,151.91
$33,103.77 $5,116,048.13 399,480 383,952
$33,310.67 $5,082,737.46
$33,518.86 $5,049,218.60
$33,728.36 $5,015,490.24
$33,939.16 $4,981,551.08
$34,151.28 $4,947,399.80
$34,364.72 $4,913,035.08
$34,579.50 $4,878,455.57
$34,795.63 $4,843,659.95
$35,013.10 $4,808,646.85
$35,231.93 $4,773,414.92
$35,452.13 $4,737,962.79
$35,673.71 $4,702,289.08 369,673 413,759
$35,896.67 $4,666,392.42
$36,121.02 $4,630,271.40
$36,346.78 $4,593,924.62
$36,573.94 $4,557,350.68
$36,802.53 $4,520,548.15
$37,032.55 $4,483,515.60
$37,264.00 $4,446,251.60
$37,496.90 $4,408,754.70
$37,731.26 $4,371,023.44
$37,967.08 $4,333,056.36
$38,204.37 $4,294,851.99
$38,443.15 $4,256,408.85 337,551 445,880
$38,683.42 $4,217,725.43
$38,925.19 $4,178,800.24
$39,168.47 $4,139,631.77
$39,413.27 $4,100,218.49
$39,659.61 $4,060,558.89
$39,907.48 $4,020,651.41
$40,156.90 $3,980,494.50
$40,407.88 $3,940,086.62
$40,660.43 $3,899,426.19
$40,914.56 $3,858,511.63
$41,170.28 $3,817,341.36
$41,427.59 $3,775,913.77 302,937 480,495
$41,686.51 $3,734,227.25
$41,947.05 $3,692,280.20
$42,209.22 $3,650,070.98
$42,473.03 $3,607,597.95
$42,738.49 $3,564,859.46
$43,005.60 $3,521,853.86
$43,274.39 $3,478,579.48
$43,544.85 $3,435,034.63
$43,817.01 $3,391,217.62
$44,090.86 $3,347,126.76
$44,366.43 $3,302,760.32
$44,643.72 $3,258,116.60 265,635 517,797
$44,922.74 $3,213,193.86
$45,203.51 $3,167,990.35
$45,486.03 $3,122,504.31
$45,770.32 $3,076,733.99
$46,056.39 $3,030,677.61
$46,344.24 $2,984,333.37
$46,633.89 $2,937,699.48
$46,925.35 $2,890,774.13
$47,218.63 $2,843,555.49
$47,513.75 $2,796,041.74
$47,810.71 $2,748,231.03
$48,109.53 $2,700,121.50 225,437 557,995
$48,410.21 $2,651,711.29
$48,712.78 $2,602,998.51
$49,017.23 $2,553,981.28
$49,323.59 $2,504,657.69
$49,631.86 $2,455,025.83
$49,942.06 $2,405,083.76
$50,254.20 $2,354,829.57
$50,568.29 $2,304,261.28
$50,884.34 $2,253,376.94
$51,202.37 $2,202,174.57
$51,522.38 $2,150,652.19
$51,844.40 $2,098,807.79 182,118 601,314
$52,168.42 $2,046,639.37
$52,494.48 $1,994,144.89
$52,822.57 $1,941,322.32
$53,152.71 $1,888,169.61
$53,484.91 $1,834,684.70
$53,819.19 $1,780,865.51
$54,155.56 $1,726,709.94
$54,494.04 $1,672,215.91
$54,834.62 $1,617,381.28
$55,177.34 $1,562,203.94
$55,522.20 $1,506,681.75
$55,869.21 $1,450,812.53 135,436 647,995
$56,218.39 $1,394,594.14
$56,569.76 $1,338,024.38
$56,923.32 $1,281,101.06
$57,279.09 $1,223,821.97
$57,637.09 $1,166,184.88
$57,997.32 $1,108,187.56
$58,359.80 $1,049,827.76
$58,724.55 $991,103.21
$59,091.58 $932,011.64
$59,460.90 $872,550.74
$59,832.53 $812,718.20
$60,206.48 $752,511.72 85,131 698,301
$60,582.77 $691,928.95
$60,961.42 $630,967.53
$61,342.43 $569,625.10
$61,725.82 $507,899.29
$62,111.60 $445,787.68
$62,499.80 $383,287.88
$62,890.42 $320,397.46
$63,283.49 $257,113.97
$63,679.01 $193,434.96
$64,077.00 $129,357.96
$64,477.49 $64,880.47
$64,880.47 $0.00 30,920 752,512
 Monto del crédito: $15,000,000.00 # Pago Pago Interés
Tasa de interés (anual): 7.50% 1 $93,750.00
Número de pagos (mensuales): 120 2 $93,223.11
Pago (mensual): $178,052.65 3 $92,692.92
4 $92,159.43
5 $91,622.59
6 $91,082.40
7 $90,538.84
8 $89,991.88
9 $89,441.50
10 $88,887.68
11 $88,330.40
12 $87,769.63
13 $87,205.37
14 $86,637.57
15 $86,066.23
16 $85,491.31
17 $84,912.80
18 $84,330.68
19 $83,744.92
20 $83,155.49
21 $82,562.39
22 $81,965.57
23 $81,365.03
24 $80,760.73
25 $80,152.65
26 $79,540.78
27 $78,925.08
28 $78,305.53
29 $77,682.11
30 $77,054.80
31 $76,423.56
32 $75,788.38
33 $75,149.23
34 $74,506.08
35 $73,858.92
36 $73,207.70
37 $72,552.42
38 $71,893.05
39 $71,229.55
40 $70,561.91
41 $69,890.09
42 $69,214.07
43 $68,533.83
44 $67,849.34
45 $67,160.57
46 $66,467.49
47 $65,770.08
48 $65,068.32
49 $64,362.17
50 $63,651.60
51 $62,936.59
52 $62,217.12
53 $61,493.15
54 $60,764.65
55 $60,031.60
56 $59,293.97
57 $58,551.73
58 $57,804.85
59 $57,053.30
60 $56,297.05
61 $55,536.08
62 $54,770.35
63 $53,999.84
64 $53,224.51
65 $52,444.33
66 $51,659.28
67 $50,869.32
68 $50,074.42
69 $49,274.56
70 $48,469.70
71 $47,659.80
72 $46,844.85
73 $46,024.80
74 $45,199.62
75 $44,369.29
76 $43,533.77
77 $42,693.03
78 $41,847.03
79 $40,995.75
80 $40,139.14
81 $39,277.18
82 $38,409.83
83 $37,537.07
84 $36,658.84
85 $35,775.13
86 $34,885.90
87 $33,991.11
88 $33,090.72
89 $32,184.71
 90 $31,273.03
91 $30,355.66
92 $29,432.56
93 $28,503.68
94 $27,569.00
95 $26,628.48
96 $25,682.08
97 $24,729.76
98 $23,771.49
99 $22,807.23
100 $21,836.95
101 $20,860.60
102 $19,878.15
103 $18,889.56
104 $17,894.79
105 $16,893.80
106 $15,886.56
107 $14,873.02
108 $13,853.15
109 $12,826.90
110 $11,794.24
111 $10,755.13
112 $9,709.52
113 $8,657.37
114 $7,598.65
115 $6,533.32
116 $5,461.32
117 $4,382.62
118 $3,297.19
119 $2,204.97
120 $1,105.92
Pago Capital Saldo
$84,302.65 $14,915,697.35
$84,829.55 $14,830,867.80
$85,359.73 $14,745,508.07
$85,893.23 $14,659,614.84
$86,430.06 $14,573,184.78
$86,970.25 $14,486,214.53
$87,513.81 $14,398,700.72
$88,060.77 $14,310,639.95
$88,611.15 $14,222,028.79
$89,164.97 $14,132,863.82
$89,722.25 $14,043,141.56
$90,283.02 $13,952,858.54 $1,089,490.39 $1,047,141.46
$90,847.29 $13,862,011.26
$91,415.08 $13,770,596.17
$91,986.43 $13,678,609.75
$92,561.34 $13,586,048.40
$93,139.85 $13,492,908.55
$93,721.98 $13,399,186.58
$94,307.74 $13,304,878.84
$94,897.16 $13,209,981.68
$95,490.27 $13,114,491.41
$96,087.08 $13,018,404.33
$96,687.63 $12,921,716.70
$97,291.92 $12,824,424.78 $1,008,198.08 $1,128,433.77
$97,900.00 $12,726,524.78
$98,511.87 $12,628,012.90
$99,127.57 $12,528,885.33
$99,747.12 $12,429,138.21
$100,370.54 $12,328,767.67
$100,997.86 $12,227,769.81
$101,629.09 $12,126,140.72
$102,264.27 $12,023,876.45
$102,903.43 $11,920,973.02
$103,546.57 $11,817,426.45
$104,193.74 $11,713,232.71
$104,844.95 $11,608,387.76 $920,594.83 $1,216,037.01
$105,500.23 $11,502,887.53
$106,159.61 $11,396,727.93
$106,823.10 $11,289,904.82
$107,490.75 $11,182,414.07
$108,162.57 $11,074,251.51
$108,838.58 $10,965,412.92
$109,518.82 $10,855,894.10
$110,203.32 $10,745,690.79
$110,892.09 $10,634,798.70
$111,585.16 $10,523,213.54
$112,282.57 $10,410,930.97
$112,984.34 $10,297,946.63 $826,190.72 $1,310,441.13
$113,690.49 $10,184,256.15
$114,401.05 $10,069,855.09
$115,116.06 $9,954,739.03
$115,835.53 $9,838,903.50
$116,559.51 $9,722,343.99
$117,288.00 $9,605,055.99
$118,021.05 $9,487,034.94
$118,758.69 $9,368,276.25
$119,500.93 $9,248,775.32
$120,247.81 $9,128,527.52
$120,999.36 $9,007,528.16
$121,755.60 $8,885,772.56 $724,457.77 $1,412,174.08
$122,516.58 $8,763,255.98
$123,282.30 $8,639,973.68
$124,052.82 $8,515,920.86
$124,828.15 $8,391,092.71
$125,608.32 $8,265,484.39
$126,393.38 $8,139,091.01
$127,183.33 $8,011,907.67
$127,978.23 $7,883,929.44
$128,778.09 $7,755,151.35
$129,582.96 $7,625,568.39
$130,392.85 $7,495,175.54
$131,207.81 $7,363,967.73 $614,827.02 $1,521,804.82
$132,027.86 $7,231,939.88
$132,853.03 $7,099,086.85
$133,683.36 $6,965,403.49
$134,518.88 $6,830,884.61
$135,359.62 $6,695,524.98
$136,205.62 $6,559,319.36
$137,056.91 $6,422,262.45
$137,913.51 $6,284,348.94
$138,775.47 $6,145,573.46
$139,642.82 $6,005,930.64
$140,515.59 $5,865,415.06
$141,393.81 $5,724,021.25 $496,685.36 $1,639,946.49
$142,277.52 $5,581,743.73
$143,166.76 $5,438,576.97
$144,061.55 $5,294,515.42
$144,961.93 $5,149,553.49
$145,867.94 $5,003,685.55
$146,779.62 $4,856,905.93
$147,696.99 $4,709,208.94
$148,620.10 $4,560,588.84
$149,548.97 $4,411,039.87
$150,483.65 $4,260,556.21
$151,424.18 $4,109,132.03
$152,370.58 $3,956,761.46 $369,372.05 $1,767,259.79
$153,322.89 $3,803,438.56
$154,281.16 $3,649,157.40
$155,245.42 $3,493,911.98
$156,215.70 $3,337,696.27
$157,192.05 $3,180,504.22
$158,174.50 $3,022,329.72
$159,163.09 $2,863,166.63
$160,157.86 $2,703,008.76
$161,158.85 $2,541,849.92
$162,166.09 $2,379,683.82
$163,179.63 $2,216,504.19
$164,199.50 $2,052,304.69 $232,175.08 $1,904,456.76
$165,225.75 $1,887,078.94
$166,258.41 $1,720,820.53
$167,297.53 $1,553,523.01
$168,343.13 $1,385,179.87
$169,395.28 $1,215,784.59
$170,454.00 $1,045,330.59
$171,519.34 $873,811.25
$172,591.33 $701,219.92
$173,670.03 $527,549.89
$174,755.47 $352,794.43
$175,847.69 $176,946.74
$176,946.74 $0.00 $84,327.15 $2,052,304.69
 Monto del crédito: $1,500,000.00 # Pago Pago Interés
Tasa de interés (anual): 7.50% 1 $9,375.00
Número de pagos (mensuales): 120 2 $9,322.31
Pago (mensual): $17,805.27 3 $9,269.29
4 $9,215.94
5 $9,162.26
6 $9,108.24
7 $9,053.88
8 $8,999.19
9 $8,944.15
10 $8,888.77
11 $8,833.04
12 $8,776.96
13 $8,720.54
14 $8,663.76
15 $8,606.62
16 $8,549.13
17 $8,491.28
18 $8,433.07
19 $8,374.49
20 $8,315.55
21 $8,256.24
22 $8,196.56
23 $8,136.50
24 $8,076.07
25 $8,015.27
26 $7,954.08
27 $7,892.51
28 $7,830.55
29 $7,768.21
30 $7,705.48
31 $7,642.36
32 $7,578.84
33 $7,514.92
34 $7,450.61
35 $7,385.89
36 $7,320.77
37 $7,255.24
38 $7,189.30
39 $7,122.95
40 $7,056.19
41 $6,989.01
42 $6,921.41
43 $6,853.38
44 $6,784.93
45 $6,716.06
46 $6,646.75
47 $6,577.01
48 $6,506.83
49 $6,436.22
50 $6,365.16
51 $6,293.66
52 $6,221.71
53 $6,149.31
54 $6,076.46
55 $6,003.16
56 $5,929.40
57 $5,855.17
58 $5,780.48
59 $5,705.33
60 $5,629.71
61 $5,553.61
62 $5,477.03
63 $5,399.98
64 $5,322.45
65 $5,244.43
66 $5,165.93
67 $5,086.93
68 $5,007.44
69 $4,927.46
70 $4,846.97
71 $4,765.98
72 $4,684.48
73 $4,602.48
74 $4,519.96
75 $4,436.93
76 $4,353.38
77 $4,269.30
78 $4,184.70
79 $4,099.57
80 $4,013.91
81 $3,927.72
82 $3,840.98
83 $3,753.71
84 $3,665.88
85 $3,577.51
86 $3,488.59
87 $3,399.11
88 $3,309.07
89 $3,218.47
 90 $3,127.30
91 $3,035.57
92 $2,943.26
93 $2,850.37
94 $2,756.90
95 $2,662.85
96 $2,568.21
97 $2,472.98
98 $2,377.15
99 $2,280.72
100 $2,183.69
101 $2,086.06
102 $1,987.82
103 $1,888.96
104 $1,789.48
105 $1,689.38
106 $1,588.66
107 $1,487.30
108 $1,385.32
109 $1,282.69
110 $1,179.42
111 $1,075.51
112 $970.95
113 $865.74
114 $759.87
115 $653.33
116 $546.13
117 $438.26
118 $329.72
119 $220.50
120 $110.59
Pago Capital Saldo
$8,430.27 $1,491,569.73
$8,482.95 $1,483,086.78
$8,535.97 $1,474,550.81
$8,589.32 $1,465,961.48
$8,643.01 $1,457,318.48
$8,697.02 $1,448,621.45
$8,751.38 $1,439,870.07
$8,806.08 $1,431,063.99
$8,861.12 $1,422,202.88
$8,916.50 $1,413,286.38
$8,972.23 $1,404,314.16
$9,028.30 $1,395,285.85 $108,949.04 $104,714.15
$9,084.73 $1,386,201.13
$9,141.51 $1,377,059.62
$9,198.64 $1,367,860.97
$9,256.13 $1,358,604.84
$9,313.99 $1,349,290.86
$9,372.20 $1,339,918.66
$9,430.77 $1,330,487.88
$9,489.72 $1,320,998.17
$9,549.03 $1,311,449.14
$9,608.71 $1,301,840.43
$9,668.76 $1,292,171.67
$9,729.19 $1,282,442.48 $100,819.81 $112,843.38
$9,790.00 $1,272,652.48
$9,851.19 $1,262,801.29
$9,912.76 $1,252,888.53
$9,974.71 $1,242,913.82
$10,037.05 $1,232,876.77
$10,099.79 $1,222,776.98
$10,162.91 $1,212,614.07
$10,226.43 $1,202,387.64
$10,290.34 $1,192,097.30
$10,354.66 $1,181,742.64
$10,419.37 $1,171,323.27
$10,484.49 $1,160,838.78 $92,059.48 $121,603.70
$10,550.02 $1,150,288.75
$10,615.96 $1,139,672.79
$10,682.31 $1,128,990.48
$10,749.07 $1,118,241.41
$10,816.26 $1,107,425.15
$10,883.86 $1,096,541.29
$10,951.88 $1,085,589.41
$11,020.33 $1,074,569.08
$11,089.21 $1,063,479.87
$11,158.52 $1,052,321.35
$11,228.26 $1,041,093.10
$11,298.43 $1,029,794.66 $82,619.07 $131,044.11
$11,369.05 $1,018,425.61
$11,440.11 $1,006,985.51
$11,511.61 $995,473.90
$11,583.55 $983,890.35
$11,655.95 $972,234.40
$11,728.80 $960,505.60
$11,802.11 $948,703.49
$11,875.87 $936,827.63
$11,950.09 $924,877.53
$12,024.78 $912,852.75
$12,099.94 $900,752.82
$12,175.56 $888,577.26 $72,445.78 $141,217.41
$12,251.66 $876,325.60
$12,328.23 $863,997.37
$12,405.28 $851,592.09
$12,482.81 $839,109.27
$12,560.83 $826,548.44
$12,639.34 $813,909.10
$12,718.33 $801,190.77
$12,797.82 $788,392.94
$12,877.81 $775,515.13
$12,958.30 $762,556.84
$13,039.29 $749,517.55
$13,120.78 $736,396.77 $61,482.70 $152,180.48
$13,202.79 $723,193.99
$13,285.30 $709,908.68
$13,368.34 $696,540.35
$13,451.89 $683,088.46
$13,535.96 $669,552.50
$13,620.56 $655,931.94
$13,705.69 $642,226.25
$13,791.35 $628,434.89
$13,877.55 $614,557.35
$13,964.28 $600,593.06
$14,051.56 $586,541.51
$14,139.38 $572,402.12 $49,668.54 $163,994.65
$14,227.75 $558,174.37
$14,316.68 $543,857.70
$14,406.15 $529,451.54
$14,496.19 $514,955.35
$14,586.79 $500,368.55
$14,677.96 $485,690.59
$14,769.70 $470,920.89
$14,862.01 $456,058.88
$14,954.90 $441,103.99
$15,048.37 $426,055.62
$15,142.42 $410,913.20
$15,237.06 $395,676.15 $36,937.21 $176,725.98
$15,332.29 $380,343.86
$15,428.12 $364,915.74
$15,524.54 $349,391.20
$15,621.57 $333,769.63
$15,719.21 $318,050.42
$15,817.45 $302,232.97
$15,916.31 $286,316.66
$16,015.79 $270,300.88
$16,115.88 $254,184.99
$16,216.61 $237,968.38
$16,317.96 $221,650.42
$16,419.95 $205,230.47 $23,217.51 $190,445.68
$16,522.57 $188,707.89
$16,625.84 $172,082.05
$16,729.75 $155,352.30
$16,834.31 $138,517.99
$16,939.53 $121,578.46
$17,045.40 $104,533.06
$17,151.93 $87,381.13
$17,259.13 $70,121.99
$17,367.00 $52,754.99
$17,475.55 $35,279.44
$17,584.77 $17,694.67
$17,694.67 $0.00 $8,432.72 $205,230.47
Este credito perdió subsidio y debe ser cancelado

Switch 2
 TELECOMUNICATION CORP
EVALUACION FINANCIERA
INDICADORES FINANCIEROS
FLUJO NETO DE EFECTIVO
Inversiones para el proyecto
Año de Ingresos Egresos Diferida
operación totales totales
0
1 17,330,714.94 9,149,770.90 7,600,664.54
2 41,229,570.60 24,575,989.66 15,888,061.09
3 53,665,264.30 39,315,731.46 13,826,527.96
4 82,162,220.40 59,358,882.99 11,118,852.93
5 110,228,690.85 77,816,711.86 11,546,642.10
6 139,995,135.57 97,905,104.61 12,202,868.97
7 170,729,062.61 118,793,313.00 12,947,551.57
8 197,571,967.87 135,481,769.14 13,396,837.25
9 221,313,393.80 151,320,206.06 13,340,752.45
10 243,111,336.96 165,826,376.48 14,133,049.47

CALCULO DEL VAN, R B/C Y TIR CON UNA TASA DE DESCUENTO

Año Costos Beneficios Factor de
de totales totales actualización
operación ($) ($) 12.00%
0 1.000
1 16,750,435 17,330,715 0.89
2 40,464,051 41,229,571 0.80
3 53,142,259 53,665,264 0.71
4 70,477,736 82,162,220 0.64
5 89,363,354 110,228,691 0.57
6 110,107,974 139,995,136 0.51
7 131,740,865 170,729,063 0.45
8 148,878,606 197,571,968 0.40
9 164,660,959 221,313,394 0.36
10 179,959,426 243,111,337 0.32
Total 1,005,545,665 1,277,337,358

Los indicadores financieros que arroja el proyecto son:

VAN= 113,973,033.07
TIR = Err:523
B/C = 1.24
Total Flujo Neto Descontado 113,973,033
Valor Terminal Descontado ( EN 10 AÑOS ) 947,278,665
Deuda Estimada en el año 10 2,447,981
Valor Empresarial 1,058,803,717
Tasa de crecimiento perpetuo estimada 5%

10%

= TIR = TIR
= TIR
RP

Flujo Neto de Efectivo

Neto

0.00
580,279.49
765,519.85
523,004.88
11,684,484.48
20,865,336.88
29,887,161.99
38,988,198.04
48,693,361.47
56,652,435.29
63,151,911.00

Costos Beneficios Flujo neto de

actualizados actualizados efectivo act.
($) ($) ($)

14,955,746 15,473,853 518,107

32,257,694 32,867,961 610,268
37,825,611 38,197,875 372,265
44,789,875 52,215,576 7,425,701
50,707,167 62,546,719 11,839,553
55,784,126 70,925,892 15,141,766
59,592,877 77,229,158 17,636,281
60,129,572 79,796,004 19,666,432
59,378,392 79,807,828 20,429,436
57,942,119 78,275,344 20,333,225
473,363,178 587,336,212 113,973,033
 #REF!
Proyeccion de Flujo de Caja

Concepto Año 0 Año 1 Año 2 Año 3 Año 4 Año 5

Entradas
Ventas 11,830,715 26,229,571 52,165,264 82,162,220 110,228,691
Financiamiento 5,500,000 15,000,000 1,500,000
Total de Entradas 17,330,715 41,229,571 53,665,264 82,162,220 110,228,691
Salidas
Inversión en Activos Fijos 7,600,665 15,888,061 13,826,528 11,118,853 11,546,642
Costos Operativos administracion 7,335,043 16,000,038 31,299,159 49,297,332 65,034,928
Intereses 399,480 1,459,163 1,454,699 1,324,351 1,183,885
Abono a Prestamo 383,952 1,460,901 1,679,028 1,809,375 1,949,842
ISR 1,031,296 5,655,888 4,882,846 6,927,824 9,648,058
Total de Salidas 16,750,435 40,464,051 53,142,259 70,477,736 89,363,354
Flujo N. E. Acumulado - 580,279 1,345,799 1,868,804 13,553,289 34,418,626

Flujo anual operativo / por año 580,279 765,520 523,005 11,684,484 20,865,337

Flujo anual operativo / por año

70,000,000

60,000,000

50,000,000

38,98
40,000,000
29,887,162
30,000,000
20,865,337
20,000,000
11,684,484
10,000,000
580,279 765,520 523,005
-
1 2 3 4 5 6 7 8
40,000,000
29,887,162
30,000,000
20,865,337
20,000,000
11,684,484
10,000,000
580,279 765,520 523,005
-
1 2 3 4 5 6 7 8
 Año 6 Año 7 Año 8 Año 9 Año 10

139,995,136 170,729,063 197,571,968 221,313,394 243,111,337

139,995,136 170,729,063 197,571,968 221,313,394 243,111,337

12,202,869 12,947,552 13,396,837 13,340,752 14,133,049

82,597,130 100,730,147 114,591,741 128,361,768 141,004,575
1,032,513 869,391 693,604 504,171 300,032
2,101,213 2,264,336 2,440,122 2,629,555 2,833,694
12,174,248 14,929,439 17,756,301 19,824,711 21,688,074
110,107,974 131,740,865 148,878,606 164,660,959 179,959,426
64,305,788 103,293,986 151,987,347 208,639,782 271,791,693

29,887,162 38,988,198 48,693,361 56,652,435 63,151,911

o
63,151,911
56,652,435

48,693,361

38,988,198

29,887,162

7 8 9 10 11
29,887,162

7 8 9 10 11