Table 5.

Description and total Amount of Investments, in Euro

Transport
Description Invoice Value Total
Expenses
Buildings € 1,327,500 - € 1,327,500
Technology and Equipment € 9,948,700
Machinery € 8,584,500 € 46,000 € 8,630,500
         Handling system for drying trays € 1,856,000 - -
         Supervisions of erection € 116,500 - -
         Dryer equipments € 599,000 - -
         Electricity / Regulation € 530,000 - -
         Tunnel kiln masonry € 1,390,000 - -
         Tunnel kiln equipment € 840,000 - -
         32 kiln cars € 677,500 - -
Elektricity / Regulation € 425,000 - -
Dryer cars / klin cars handling € 1,286,500 - -
Computorized supervision system € 145,000 - -
General Engineering € 719,000 - -
Equipment for colouring € 635,000 € 11,500 € 646,500
Supporting Technology € 144,000 € 3,000 € 147,000
Warehouse Inventory and Equipment € 195,500 € 1,000 € 196,500
Transportation Equipments and Vehicles € 269,000 € 10,000 € 279,000
Office Hardware and Inventory € 49,200 - € 49,200
TOTAL INVESTMENT € 19,789,200 € 71,500 € 21,224,900
Sales volume of standard tiles throughout the years, in million

Products 2012 2013 2014

Standard tiles & Tile Side covers piece 6 9 10

Production Volume, in million units.

Measuring Technology
Year
Product unit capacity

2012 2013 2014

Tiles piece 22 6 9 10
Roof side covers piece 5 1 2 2
Plates for floor piece 20 0,5
Plates for stairs piece 20 0,5
Plates for walls piece 5 0,2
Decorative bricks piece 10 1

2012 2013 2014

Revenue € 2,520,000 € 3,780,000 € 4,200,000

Pricing Strategy
Price of Decreased
Our prices
imported tiles percentage

(per piece)
Wholesale price 0.47 € 10% 0.42 €
Retail price 0.55 € 10% 0.49 €
 2015
10

2015
10
2
0,5
0,5
0,2
1

2015

€ 4,200,000
Salaries first two years
Nr. of Employer
Gross Monthly Gross Yearly Yearly Salary
Employe Pension
Salaries Salary Expense
es Contribution
General Manager 1 1500 € 18,000 € 900 € 18,900
Deputy Manager 1 1250 € 15,000 € 750 € 15,750
Unit Manager 4 700 € 8,400 € 420 € 8,820
Process Engineer 3 650 € 7,800 € 390 € 8,190
Technical Specialist 4 600 € 7,200 € 360 € 7,560
Technicians 20 400 € 4,800 € 240 € 5,040
Administration Staff 7 310 € 3,720 € 186 € 3,906
Production Staff 35 300 € 3,600 € 180 € 3,780
Total 75 € 68,520 € 3,426 € 71,946

Salaries last two years

Nr. of Employer
Gross Monthly Gross Yearly Yearly Salary
Employe Pension
Salaries Salary Expense
es Contribution
General Manager 1 1500 € 18,000 € 900 € 18,900
Deputy Manager 1 1250 € 15,000 € 750 € 15,750
Unit Manager 6 700 € 8,400 € 420 € 8,820
Process Engineer 6 650 € 7,800 € 390 € 8,190
Technical Specialist 6 600 € 7,200 € 360 € 7,560
Technicians 30 400 € 4,800 € 240 € 5,040
Administration Staff 14 310 € 3,720 € 186 € 3,906
Production Staff 70 300 € 3,600 € 180 € 3,780
Total 75 € 68,520 € 3,426 € 71,946
 Total Gross
Salary

€ 18,900
€ 15,750
€ 35,280
€ 24,570
€ 30,240
€ 100,800
€ 27,342
€ 132,300
€ 385,182

Total Gross
Salary

€ 18,900
€ 15,750
€ 52,920
€ 49,140
€ 45,360
€ 151,200
€ 54,684
€ 264,600
€ 652,554
Variable Costs 2012 2013 2014
Purchase of Clay € 6,000 € 9,000 € 10,000
Purchase of Soil € 700 € 1,200 € 1,200
Purchase of finished product for production € 10,000 € 60,000 € 60,000
Energy € 200,000 € 487,500 € 492,500
General Production Maintenance € 100,000 € 220,000 € 220,000
Purchase of Sand € 1,200 € 2,000 € 2,000
Other unpredictable costs (additional materials and
€ 60,000 € 140,000 € 140,000
repair)
Bank Charges and Fees € 3,000 € 4,000 € 5,000
Marketing Costs € 120,000 € 150,000 € 150,000
TOTAL € 500,900 € 1,073,700 € 1,080,700

Fixed Costs
Fixed Costs 2012 2013 2014
Staff € 385,182 € 385,182 € 652,554
Staff Life Insurance € 5,400 € 5,400 € 10,800
Depreciation € 1,571,905 € 1,571,905 € 1,571,905
Office Costs
Telephone € 15,000 € 15,000 € 15,000
Stationery € 9,000 € 9,000 € 9,000
Electricity € 6,000 € 7,000 € 7,000
IT maintenance € 1,000 € 1,000 € 1,000
Maintenance Costs for Building € - € 12,000 € 12,000
Insurance € 12,050 € 12,050 € 12,050
TOTAL € 2,005,537 € 2,018,537 € 2,291,309
€ 433,632 € 446,632 € 719,404

Total Cost € 2,506,437 € 3,092,237 € 3,372,009

Energy Type Measure 2012 2013 2014

Electrical Energy
Quantity KW 600000 1500000 1500000
Value € 30,000 € 75,000 € 75,000

Oil and Derivatives

Quantity Ton 50 100 100
Value € 53,000 € 100,000 € 105,000

Gas
Quantity Ton 237 631 631
Value € 95,000 € 252,500 € 252,500

Gasoline
Quantity Ton 20 50 50
Value € 22,000 € 60,000 € 60,000
Total Value € 200,000 € 487,500 € 492,500
 2015
€ 10,000
€ 1,200
€ 60,000
€ 492,500
€ 220,000
€ 2,000
€ 140,000
€ 5,000
€ 150,000
€ 1,080,700

2015
€ 652,554
€ 10,800
€ 1,571,905

€ 15,000
€ 9,000
€ 7,000
€ 1,000
€ 12,000
€ 12,050
€ 2,291,309
€ 719,404

€ 3,372,009

2015

1500000
€ 75,000

100
€ 105,000

631
€ 252,500
 50
€ 60,000
€ 492,500
Profit and Loss Statement
In EURO Projected Projected Projected
2012 2013 2014
Revenues 2,520,000 3,780,000 4,200,000
Costs of Goods Sold -377,900 -919,700 -925,700
Gross margin 2,142,100 2,860,300 3,274,300

Storage, Transport & Marketing -120,000 -150,000 -150,000

Staff costs -390,582 -390,582 -663,354
Travel costs 0 0 0
Office costs -31,000 -32,000 -32,000
Equipment & maintenance costs 0 -10,000 -10,000
Third-Party cost -15,050 -16,050 -17,050
Other costs 0 0 0
Total indirect costs -556,632 -598,632 -872,404

EBITDA 1,585,468 2,261,668 2,401,896

Depreciation -1,571,905 -1,571,905 -1,571,905

EBIT 13,563 689,763 829,991

Interest charges -360,000 -360,000 -300,000

Taxable profit -346,437 329,763 529,991

Tax expense 0 -32,976 -52,999

Net Income (avail. to shareholders) -580,805 296,787 476,992

Dividend expense 0 0 0
Income to retained earnings -580,805 296,787 476,992
Projected
2015
4,200,000
-925,700
3,274,300

-150,000
-663,354
0
-32,000
-10,000
-17,050
0
-872,404

2,401,896

-1,571,905
829,991

-240,000
589,991

-58,999
530,992

0
530,992
Balance Sheet Te zhvillohet nga vet studenti
In EURO Projected Projected Projected
2012 2013 2014

Cash
Accounts Receivable
Inventory
Current assets

Fixed Assets (net)

Total Assets

Accounts Payable
Current liabilities

Interest bearing debt

Equity
Share capital (including grants)
Retained earnings (per period)
Acummulated earnings / Reserves
Other reserves
Total Liabilities
Projected
2015
Cash Flow Te zhvillohet nga vet studenti
In EURO Projected Projected Projected

Revenues
Change in Account Receivables
Cash Collection in period

COGS
Change in Inventory
Change in Receivables
Cash output in period

Total indirect expenses

Operational cash flow (Gross CFO)

Interest expenses
Tax expense
Net operational cash flow (Net CFO)

Capex (Capital Expenses)

Cash Flow after investment (CFI)

Change in interest bearing debt

Change in share capital / grants
Change in other reserves
Dividends paid
Cash Flow form Financing (CFF)

Change in total cash flow

Beginning cash balance

Change in cash
Ending cash balance
Projected