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 $357,427,705.05 $382,292,663.75 $409,718,721.74 $437,841,405.08 $466,309,853.24

Inventario inicial $0.00 $5,000,000.00 $29,785,642.09 $31,857,721.98 $34,143,226.81 $36,486,783.76

Compras $5,000,000.00 $382,213,347.14 $384,364,743.64 $412,004,226.57 $440,184,962.03 $468,682,223.92

Inventario final $5,000,000.00 $29,785,642.09 $31,857,721.98 $34,143,226.81 $36,486,783.76 $38,859,154.44

UTILIDAD BRUTA $0.00 $192,461,071.95 $205,849,895.87 $220,617,773.25 $235,760,756.58 $251,089,920.98

Gastos administrativos $0.00 $60,487,765.47 $64,695,681.56 $69,337,014.45 $74,096,237.78 $78,913,975.16

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 $4,124,165.83 $4,411,069.20 $4,727,523.71 $5,052,016.21 $5,380,498.31

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 $62,860,262.95 $67,928,889.15 $73,519,585.59 $79,252,286.42 $85,055,470.08

Intereses $0.00 $6,570,000.00 $5,558,966.57 $4,415,083.35 $3,120,893.87 $1,656,647.90

Bonos $0.00 $7,500,000.00 $7,500,000.00 $7,500,000.00 $7,500,000.00 $7,500,000.00

Gastos financieros $0.00 $14,070,000.00 $13,058,966.57 $11,915,083.35 $10,620,893.87 $9,156,647.90

UTILIDAD ANTES DE IMPUESTOS $0.00 $48,790,262.95 $54,869,922.58 $61,604,502.24 $68,631,392.55 $75,898,822.19

Impuesto sobre la renta $0.00 $17,076,592.03 $19,204,472.90 $21,561,575.78 $24,020,987.39 $26,564,587.77

UTILIDAD NETA DEL EJERCICIO $0.00 $31,713,670.92 $35,665,449.68 $40,042,926.45 $44,610,405.16 $49,334,234.42

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 $62,860,262.95 $67,928,889.15 $73,519,585.59 $79,252,286.42 $85,055,470.08

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

UODI $0.00 $40,859,170.92 $44,153,777.95 $47,787,730.63 $51,513,986.17 $55,286,055.55

Capital de trabajo operativo $5,000,000.00 $57,280,080.94 $61,264,849.96 $65,660,051.56 $70,166,891.84 $74,729,143.15

Inversión en capital de trabajo neto operativo KTNO $5,000,000.00 $52,280,080.94 $3,984,769.02 $4,395,201.60 $4,506,840.28 $4,562,251.31

Flujo de caja bruto $0.00 $50,859,170.92 $54,153,777.95 $57,787,730.63 $61,513,986.17 $65,286,055.55

Inversión neta en KTNO $5,000,000.00 $52,280,080.94 $3,984,769.02 $4,395,201.60 $4,506,840.28 $4,562,251.31

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

Flujo de caja libre FCF $105,000,000.00 $103,139,251.86 $58,138,546.97 $62,182,932.23 $66,020,826.45 $69,848,306.86

Factor de descuento $1.00 $0.91 $0.84 $0.76 $0.70 $23.80

VP FCF $105,000,000.00 $94,250,143.79 $48,548,997.08 $47,450,995.84 $46,037,648.75 $1,662,682,724.82

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 $205,220,110.44 $244,594,992.59 $287,462,241.45 $333,713,126.25 $333,311,772.70

Efectivo y equivalentes a efectivo $145,000,000.00 $147,940,029.51 $183,330,142.63 $221,802,189.89 $263,546,234.41 $258,582,629.55

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 $29,785,642.09 $31,857,721.98 $34,143,226.81 $36,486,783.76 $38,859,154.44

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 $250,000,000.00 $295,220,110.44 $324,594,992.59 $357,462,241.45 $393,713,126.25 $383,311,772.70

Pasivo Corriente $0.00 $17,076,592.03 $19,204,472.90 $21,561,575.78 $24,020,987.39 $26,564,587.77

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

Proveedores y cuentas por pagar $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Impuesto sobre la renta $0.00 $17,076,592.03 $19,204,472.90 $21,561,575.78 $24,020,987.39 $26,564,587.77

Pasivo no corriente $100,000,000.00 $96,429,847.49 $88,011,399.09 $78,478,618.62 $67,659,686.65 $5,380,498.31

Pasivo por beneficio a empleados $0.00 $4,124,165.83 $4,411,069.20 $4,727,523.71 $5,052,016.21 $5,380,498.31

Pasivos financieros $50,000,000.00 $42,305,681.66 $33,600,329.90 $23,751,094.91 $12,607,670.44 $0.00

Títulos emitidos – bonos en circulación $50,000,000.00 $50,000,000.00 $50,000,000.00 $50,000,000.00 $50,000,000.00 $0.00

TOTAL PASIVO $100,000,000.00 $113,506,439.52 $107,215,872.00 $100,040,194.40 $91,680,674.05 $31,945,086.07

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 $31,713,670.92 $67,379,120.60 $107,422,047.05 $152,032,452.21

Utilidad del periodo $0.00 $31,713,670.92 $35,665,449.68 $40,042,926.45 $44,610,405.16 $49,334,234.42

TOTAL PATRIMONIO $150,000,000.00 $181,713,670.92 $217,379,120.60 $257,422,047.05 $302,032,452.21 $351,366,686.63

TOTAL PASIVO Y PATRIMONIO $250,000,000.00 $295,220,110.44 $324,594,992.59 $357,462,241.45 $393,713,126.25 $383,311,772.70

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

POLITECNICO GRANCOLOMBIANO FINANZAS CORPORATIVAS