CAPACIDAD MAXIMA TM PRECIO HOJALATA 360.

00
PRODUCCION 800.00 PRECIO FCO VIDRIO 350.00
ESTRUCTURA DE PRODUCCIÓN
hoja lata 40%
fco de vidrio 60% 60%

años demanda py prod actual demanda insat HOJALATA FCO VIDRIO % PROD TOT VENTA HOJALATA
2008 734 310 424 169.6 254.4 53.00% 61056
2009 742 310 432 172.8 259.2 54.00% 62208
2010 753 310 443 177.2 265.8 55.38% 63792
2011 767 310 457 182.8 274.2 57.13% 65808
2012 784 310 474 189.6 284.4 59.25% 68256
2013 800 310 490 196 294 61.25% 70560
2014 810 310 500 200 300 62.50% 72000
2015 832 310 522 208.8 313.2 65.25% 75168
2016 849 310 539 215.6 323.4 67.38% 77616
2017 942 310 632 252.8 379.2 79.00% 91008

Err:508
VENTA FCO VIDRIO VENTA TOTAL
89040 150096
90720 152928
93030 156822
95970 161778
99540 167796
102900 173460
105000 177000
109620 184788
113190 190806
132720 223728
CAPACIDAD TM PRECIO HOJALA $ 360.00 ESTRUCTURA DE INVERSIONES
PRODUCCION 800.00 PRECIO FCO VID $ 350.00 S / FINAN.
TANGIBLES

DEPRECIACIÓN VR AÑOS VALOR CONST Y EDIF 47,800.00

CONSTRUCCIONES Y EDI 47,800.00 10% 20 2,151.00 MAQUINARIA Y EQ 80,500.00
MAQ Y EQ 80,500.00 10% 10 7,245.00 EQUIPO COMPUTO 32,000.00
EQ COMPUTO 32,000.00 10% 4 7,200.00
16,596.00

AMORTIZACION DE INTANGIBLES INTANGIBLES

SIN FINANC CON FINANC ESTUDIOS Y PATENTES 6,600.00
EN 6 AÑOS 3,890.83 7,499.68 SOFTWARE 8,000.00

INTERESES PRE OPERATIVOS (Trimestrales)

IMPREVISTO (5%) 8,745.00

INTERESES PRE OPERATIVOS
INTERÉS PREOPERATIVO
21,653.09 TERRENO 32,408.00
PRESTAMO COFIDE 135,331.80
PRESTAMO BANCO 22,555.30 IMPUESTO 30% CAPITAL TRABAJO (1er Año) 9,500.00
APORTE PROPIO 67,665.90
225,553.00 COSTO DE OPORTUNIDAD 22% INVERSION 225,553.00
COFIDE BANCO
PRESTAMO 135,331.80 PRESTAMO 22,555.30 COSTO DE CAPITAL PONDERADO
INTERES 16% INTERES 20% 135,331.80 16% 0.60
TIEMPO años 8 TIEMPO (año) 4 22,555.30 22% 0.10
ANUALIDAD 31,156.66 ANUALIDAD 8,712.87 67,665.90 22% 0.30
225,553.00 1.00
 C / FINAN.

47,800.00
80,500.00
32,000.00

6,600.00
8,000.00

8,745.00
21,653.09

32,408.00

9,500.00

247,206.09

10%
2%
7%
18%
 COSTO DE PRODUCCION
AÑOS 53% 54% 55% 57% 59% 61% 63% 65% 67%
RUBRO 1 2 3 4 5 6 7 8 9
COSTOS VARIABLES
SALARIOS 1,325.00 1,350.00 1,384.38 1,428.13 1,481.25 1,531.25 1,562.50 1,631.25 1,684.38
ESPARRAGOS 3,392.00 3,456.00 3,544.00 3,656.00 3,792.00 3,920.00 4,000.00 4,176.00 4,312.00
EMB Y OTRAS MATER PRIMAS 2,597.00 2,646.00 2,713.38 2,799.13 2,903.25 3,001.25 3,062.50 3,197.25 3,301.38
PRESERVANTES Y OTROS 901.00 918.00 941.38 971.13 1,007.25 1,041.25 1,062.50 1,109.25 1,145.38
OTROS COSTOS VARIABLES

TOTAL COSTO VARIABLE 8,215.00 8,370.00 8,583.13 8,854.38 9,183.75 9,493.75 9,687.50 10,113.75 10,443.13
COSTOS FIJOS
SUELDOS 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00 3,500.00
SEGUROS 2,400.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00
DEPRECIACION CONST Y EDF 2,151.00 2,151.00 2,151.00 2,151.00 2,151.00 2,151.00 2,151.00 2,151.00 2,151.00
DEPRECIACION MAQ Y EQ 7,245.00 7,245.00 7,245.00 7,245.00 7,245.00 7,245.00 7,245.00 7,245.00 7,245.00
DEPRECIACION EQ COMP 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00
OTROS COSTOS FIJOS 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00
TOTAL COSTO FIJO 22,996.00 28,596.00 28,596.00 28,596.00 28,596.00 28,596.00 28,596.00 28,596.00 28,596.00

COSTO DE PRODUCCION ECONOMICO 31,211.00 36,966.00 37,179.13 37,450.38 37,779.75 38,089.75 38,283.50 38,709.75 39,039.13

PRODUCCION HOJALATA 169.60 172.80 177.20 182.80 189.60 196.00 200.00 208.80 215.60
PRECIO HOJALATA 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00
ING VENTA HOJALATA 61,056.00 62,208.00 63,792.00 65,808.00 68,256.00 70,560.00 72,000.00 75,168.00 77,616.00
PRODUCCION FCO VIDRIO 254.40 259.20 265.80 274.20 284.40 294.00 300.00 313.20 323.40
PRECIO FCO VIDRIO 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00
ING VENTA FCO VIDRIO 89,040.00 90,720.00 93,030.00 95,970.00 99,540.00 102,900.00 105,000.00 109,620.00 113,190.00
INGRESO VENTAS TOTAL 150,096.00 152,928.00 156,822.00 161,778.00 167,796.00 173,460.00 177,000.00 184,788.00 190,806.00
COSTO UNITARIO PRODUCCION HOJALATA 184.03 213.92 209.81 204.87 199.26 194.34 191.42 185.39 181.07
COSTO UNITARIO PRODUCCION FCO VIDRIO 122.68 142.62 139.88 136.58 132.84 129.56 127.61 123.59 120.71
CAPITAL DE TRABAJO ECONOMICO 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00
CAPITAL DE TRABAJO FINANCIERO 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00 9,500.00

PUNTO DE EQUILIBRIO ECONOMICO 24,327.48 30,251.73 30,251.73 30,251.73 30,251.73 30,251.73 30,251.73 30,251.73 30,251.73
PUNTO DE EQUILIBRIO FINANCIERO 24,327.48 30,251.73 30,251.73 30,251.73 30,251.73 30,251.73 30,251.73 30,251.73 30,251.73
 79%
10

1,975.00 2500
5,056.00 6400
3,871.00 4900
1,343.00 1700

12,245.00

3,500.00
8,000.00
2,151.00
7,245.00
7,200.00
500.00
28,596.00

40,841.00

252.80
360.00
91,008.00
379.20
350.00
132,720.00
223,728.00
161.55
107.70
9,500.00
9,500.00

30,251.73
30,251.73
 Total Prestamo 135,331.80
Interes 16%
N° Periodos 8

AMORTIZACIONES (METODO FRANCES)

AÑOS DEUDA INTERES AMORTIZA. ANUALIDAD
0 135,331.80 21,653.09 0.00 31,156.66
1 135,331.80 21,653.09 9,503.58 31,156.66
2 125,828.22 20,132.52 11,024.15 31,156.66
3 114,804.08 18,368.65 12,788.01 31,156.66
4 102,016.07 16,322.57 14,834.09 31,156.66
5 87,181.97 13,949.12 17,207.55 31,156.66
6 69,974.42 11,195.91 19,960.76 31,156.66
7 50,013.67 8,002.19 23,154.48 31,156.66
8 26,859.19 4,297.47 26,859.19 31,156.66
# DE AÑOS 8 135,574.60 135,331.80 280,409.97

Total Prestamo 22,555.30

Interes 20%
N° Periodos 8

AMORTIZACIONES (METODO FRANCES)

AÑOS DEUDA INTERES AMORTIZA. ANUALIDAD
1 22,555.30 4,511.06 4,201.81 8,712.87
2 18,353.49 3,670.70 5,042.17 8,712.87
3 13,311.32 2,662.26 6,050.60 8,712.87
4 7,260.72 1,452.14 7,260.72 8,712.87
# DE AÑOS 4 12,296.17 22,555.30 34,851.47
 ESTADO DE GANANCIAS Y PERDIDAS S / FINANCIAMIENTTO

AÑOS
2008 2009 2010 2011 2012 2013 2014 2015
RUBRO
INGRESO / VENTAS 150,096.00 152,928.00 156,822.00 161,778.00 167,796.00 173,460.00 177,000.00 184,788.00
(COSTO DE PRODUCCION) 31,211.00 36,966.00 37,179.13 37,450.38 37,779.75 38,089.75 38,283.50 38,709.75
UTILIDAD BRUTA 118,885.00 115,962.00 119,642.88 124,327.63 130,016.25 135,370.25 138,716.50 146,078.25
(GASTOS ADM. Y VENTAS) 5,436.00 5,436.00 5,436.00 7,896.00 7,896.00 7,896.00 9,080.00 9,080.00
AMORTIZACION INTANGIBLES 3,890.83 3,890.83 3,890.83 3,890.83 3,890.83 3,890.83
UTILIDAD ANTES DEL IMP. 109,558.17 106,635.17 110,316.04 112,540.79 118,229.42 123,583.42 129,636.50 136,998.25
(IMPUESTOS) 32,867.45 31,990.55 33,094.81 33,762.24 35,468.83 37,075.03 38,890.95 41,099.48
UTILIDAD DE OPERACIÓN 76,690.72 74,644.62 77,221.23 78,778.55 82,760.59 86,508.39 90,745.55 95,898.78

ESTADO DE GANANCIAS Y PERDIDAS C / FINANCIAMIENTO

AÑOS
2008 2009 2010 2011 2012 2013 2014 2015
RUBRO
INGRESO / VENTAS 150,096.00 152,928.00 156,822.00 161,778.00 167,796.00 173,460.00 177,000.00 184,788.00
(COSTO DE PRODUCCION) 31,211.00 36,966.00 37,179.13 37,450.38 37,779.75 38,089.75 38,283.50 38,709.75
UTILIDAD BRUTA 118,885.00 115,962.00 119,642.88 124,327.63 130,016.25 135,370.25 138,716.50 146,078.25
(GASTOS ADM. Y VENTAS) 5,436.00 5,436.00 5,436.00 7,896.00 7,896.00 7,896.00 9,080.00 9,080.00
AMORTIZACION INTANGIBLES 7,499.68 7,499.68 7,499.68 7,499.68 7,499.68 7,499.68
(GASTOS FINANCIEROS COFIDE) 21,653.09 20,132.52 18,368.65 16,322.57 13,949.12 11,195.91 8,002.19 4,297.47
(GASTOS FINANCIEROS BANCO) 4,511.06 3,670.70 2,662.26 1,452.14

UTILIDAD ANTES DEL IMP. 79,785.17 79,223.10 85,676.28 91,157.23 100,671.45 108,778.66 121,634.31 132,700.78
(IMPUESTOS) 23,935.55 23,766.93 25,702.88 27,347.17 30,201.44 32,633.60 36,490.29 39,810.23
UTILIDAD DE OPERACIÓN 55,849.62 55,456.17 59,973.39 63,810.06 70,470.02 76,145.06 85,144.02 92,890.55

SIN FINANC

RENTABILIDAD UTIL. MEDIA 0.39

INV. TOTAL

TIEMPO DE PAGO INV. TOTAL 2.55

 UTIL. MEDIA 2 años 6 meses 19 días

CAPACIDAD DE PAGO UTIL. MEDIA - DEPREC. 71,713.31

 2016 2017
190,806.00 223,728.00
39,039.13 40,841.00
151,766.88 182,887.00
10,295.00 10,295.00

141,471.88 172,592.00
42,441.56 51,777.60
99,030.31 120,814.40

2016 2017
190,806.00 223,728.00
39,039.13 40,841.00
151,766.88 182,887.00
10,295.00 10,295.00

0.00 0.00

141,471.88 172,592.00
42,441.56 51,777.60
99,030.31 120,814.40

CON FINANC
0.55 6.65 19.48
0.32 2 años 6 meses 19 días

0.17 2.05 1.56

3.17 3 años 2 meses 2 días
3 años 2 meses 2 días

61,362.36
 FLUJO DE CAJA ECONÓMICO
AÑOS 0 1 2 3 4 5 6 7 8 9 10
RUBRO
INGRESOS
INGRESO VENTAS 150,096.00 152,928.00 156,822.00 161,778.00 167,796.00 173,460.00 177,000.00 184,788.00 190,806.00 223,728.00
VALOR LIBROS (TERRENO) 32,408.00
VALOR RECUPERO
EDIFICIO 21,510.00
MAQUINARIA 0.00
EQ. COMPUTO 14,400.00

VALOR DE RESIDUAL

EDIFICIOS 4,780.00
MAQUINARIA 8,050.00
EQ. COMPUTO 3,200.00 3,200.00 3,200.00

CAPITAL DE TRABAJO 100% 9,500.00

TOTAL INGRESO 0.00 150,096.00 152,928.00 156,822.00 164,978.00 167,796.00 173,460.00 177,000.00 187,988.00 190,806.00 317,576.00

EGRESOS
APORTE PROPIO 225,553.00
COSTO DE PRODUCCION 31,211.00 36,966.00 37,179.13 37,450.38 37,779.75 38,089.75 38,283.50 38,709.75 39,039.13 40,841.00
(DEPRECIACION) 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00

ADQUISICIÓN DE EQ COMPUTO 32,000.00 32,000.00

GASTOS ADM. Y VENTAS 5,436.00 5,436.00 5,436.00 7,896.00 7,896.00 7,896.00 9,080.00 9,080.00 10,295.00 10,295.00
(AMORT. INTANGIBLES) 7,499.68 7,499.68 7,499.68 7,499.68 7,499.68 7,499.68
IMPUESTOS 32,867.45 31,990.55 33,094.81 33,762.24 35,468.83 37,075.03 38,890.95 41,099.48 42,441.56 51,777.60
TOTAL EGRESOS 225,553.00 45,418.77 50,296.87 51,614.26 87,012.93 57,048.89 58,965.09 69,658.45 104,293.23 75,179.69 86,317.60

I-E = FCE -225,553.00 104,677.23 102,631.13 105,207.74 77,965.07 110,747.11 114,494.91 107,341.55 83,694.78 115,626.31 231,258.40

FLUJO DE CAJA FINANCIERO

AÑOS 0 1 2 3 4 5 6 7 8 9 10
RUBRO
INGRESOS
INGRESO VENTAS 150,096.00 152,928.00 156,822.00 161,778.00 167,796.00 173,460.00 177,000.00 184,788.00 190,806.00 223,728.00
VALOR LIBROS (TERRENO) 32,408.00
VALOR RECUPERO
EDIFICIO 21,510.00
MAQUINARIA 0.00
EQ. COMPUTO 14,400.00

VALOR DE RESIDUAL

EDIFICIOS 4,780.00
MAQUINARIA 8,050.00
EQ. COMPUTO 3,200.00 3,200.00 3,200.00

CAPITAL DE TRABAJO 100% 9,500.00

TOTAL INGRESO 0.00 150,096.00 152,928.00 156,822.00 164,978.00 167,796.00 173,460.00 177,000.00 187,988.00 190,806.00 317,576.00

EGRESOS
APORTE PROPIO 67,665.90
COSTO DE PRODUCCION 31,211.00 36,966.00 37,179.13 37,450.38 37,779.75 38,089.75 38,283.50 38,709.75 39,039.13 40,841.00
(DEPRECIACION) 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00 16,596.00

GASTOS ADM. Y VENTAS 5,436.00 5,436.00 5,436.00 7,896.00 7,896.00 7,896.00 9,080.00 9,080.00 10,295.00 10,295.00
(AMORT. INTANGIBLES) 7,499.68 7,499.68 7,499.68 7,499.68 7,499.68
GASTOS FINANCIEROS 21,653.09 26,164.15 23,803.21 21,030.92 17,774.72 13,949.12 11,195.91 8,002.19 4,297.47

ADQ . EQUIPO COMPUTO 32,000.00 32,000.00 14,400.00

IMPUESTOS 23,935.55 23,766.93 25,702.88 27,347.17 30,201.44 32,633.60 36,490.29 39,810.23 42,441.56 51,777.60

AMORT. DEUDA 13,705.38 16,066.32 18,838.61 22,094.82 17,207.55 19,960.76 23,154.48 26,859.19

TOTAL EGRESOS 89,318.99 76,356.40 81,942.78 84,091.86 120,467.39 82,938.17 93,180.01 98,414.46 134,160.65 75,179.69 100,717.60

I-E = FCF -89,318.99 73,739.60 70,985.22 72,730.14 44,510.61 84,857.83 80,279.99 78,585.54 53,827.35 115,626.31 216,858.40
 FLUJOS DE CAJA

MONTO
450,000.00

350,000.00

250,000.00

150,000.00

50,000.00

-50,000.00 0 1 2 3 4 5 6 7 8 9 10

-150,000.00

-250,000.00

-350,000.00

-450,000.00

-550,000.00
AÑOS

FLUJO DE CAJA ECONÓMICO FLUJO DE CAJA FINANCIERO

EVALUACION ECONOMICA 7% INTERSECCION DEL VAN Y TIR Datos para análisis del VAN y TIR
AÑOS FCE FA VALOR ACTUAL Variacion TIR
0 -225,553.00 1.0000 -225,553.00 VAN VAN Y TIR ECONOMICO -24.00% 20.82%
1 104,677.23 0.9381 98,196.28 200,000.00 -21.00% 23.82%
2 102,631.13 0.8800 90,316.00 -18.00% 26.82%
150,000.00
3 105,207.74 0.8255 86,851.25 -15.00% 29.82%
4 77,965.07 0.7744 60,376.96 100,000.00 -12.00% 32.82%
5 110,747.11 0.7265 80,453.76 -9.00% 35.82%
6 114,494.91 0.6815 78,026.65 50,000.00 -6.00% 38.82%
7 107,341.55 0.6393 68,622.64 -3.00% 41.82%
8 83,694.78 0.5997 50,192.72 Tasa_inicial0.00
=$L$18 0.00% 44.82%
9 115,626.31 0.5626 65,049.18 -50,000.00 3.00% 47.82%
10 231,258.40 0.5277 122,046.54 6.00% 50.82%
VAN 574,578.98 -100,000.00 9.00% 53.82%
12.00% 56.82%
2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2% 2%
3.8 6.8 9.8 2.8 5.8 8.8 1.8 4.8 7.8 0.8 3.8 6.8 9.8 2.8 5.8 15.00% 59.82%
TIR ECONOMICO 44.82% 2 2 2 3 3 3 4 4 4 5 5 5 5 6 6 18.00% 62.82%
TIR
BENEFICIO/COSTO 3.55 21.00% 65.82%

EVALUACION FINANCIERA 22%

AÑOS FCF FA VALOR ACTUAL INTERSECCION DEL VAN Y TIR
0 -89,318.99 1.0000 -89,318.99 Datos para análisis del VAN y TIR
1 73,739.60 0.8197 60,442.29 VAN VAN Y TIR FINANCIERO Variacion TIR
2 70,985.22 0.6719 47,692.30 80,000.00 -35.00% 45.07%
3 72,730.14 0.5507 40,052.99 -30.00% 50.07%
60,000.00
4 44,510.61 0.4514 20,092.05 -25.00% 55.07%
5 84,857.83 0.3700 31,397.33 40,000.00 -20.00% 60.07%
6 80,279.99 0.3033 24,347.16 -15.00% 65.07%
7 78,585.54 0.2486 19,535.47 20,000.00 -10.00% 70.07%
8 53,827.35 0.2038 10,967.92 -5.00% 75.07%
0.00
9 115,626.31 0.1670 19,311.60 Tasa_inicial =$L$18 0.00% 80.07%
10 216,858.40 0.1369 29,687.79 -20,000.00 5.00% 85.07%
VAN 214,207.92 10.00% 90.07%
-40,000.00 15.00% 95.07%
20.00% 100.07%
7% 7% 7% 7% 7% 7% 7% 7% 7% 7% 7% 7% 7% 7% 7%
TIR FINANCIERO 80.07% 5.0 0.0 5.0 0.0 5.0 0.0 5.0 0.0 5.0 0.0 5.0 0.0 5.0 0.0 5.0 25.00% 105.07%
4 5 5 6 6 7 7 8 8 9 9 10 10 11 11
BENEFICIO/COSTO 4.49 30.00% 110.07%
TIR
35.00% 115.07%
Datos para análisis del VAN y TIR
VAN
210,390.44
167,724.21
131,744.83
101,143.23
74,904.67
52,235.63
32,510.35
15,231.34
0.00
-13,505.39
-25,546.39
-36,337.12
-46,053.98
-54,843.26
-62,826.99
-70,107.57

Datos para análisis del VAN y TIR

VAN
68,794.26
53,216.43
40,366.78
29,614.34
20,500.56
12,686.48
5,917.61
0.00
-5,216.22
-9,848.33
-13,989.23
-17,713.33
-21,080.86
-24,141.02
-26,934.41
 RESUMEN ECONÓMICO FINANCIERO
PUNTO DE EQUILIBRIO 30,251.73 30,251.73
RENTABILIDAD 0.39 0.32
TIEMPO DE PAGO 2.55 3.17
CAPACIDAD DE PAGO 71,713.31 61,362.36
VALOR ACTUAL NETO 574,578.98 214,207.92
TASA INTERNA DE RETORNO 45% 80%
BENEFICIO - COSTO 3.55 4.49