Biomar Industrial Excel-1

Costo del capital

Capital propio BND Banco comercial Inve Inverrsión sión tota totall WACC

Monto Q 1,093,000.00 Q 1,116,000.00 Q2,2 Q2 ,209 09,0 ,000 00.0 .00 0 13.01

Tasa requerida 49% 12.0% 51% 14.0% 0%

tasa real 12.0% 9.8%

Kd Kd Kd

costo ponderado 5.94% 131,160.00 Q 4.95% 109,368.00 Q 0.0% 10.89%

Q240,528.00  240,528.00 Q

tasa real 12.0% 9.8%

Kd Kd Kd

costo ponderado 5.94% 131,160.00 Q 4.95% 109,368.00 Q 0.0% 10.89%

Q240,528.00  240,528.00 Q

!I"MA#

A$"% 1961 1969 19"0 19"1 19"2 19"3 19"4 19"5 19"6 19"" 19"8 19"9 1980 1981 1982 1983

Con!mo per capita camarone CAMA#"&'% '& T"(A% )A% *"#MA% +)I!#A% 1.01 1.3" 1.33 1.46 1.41 1.44 1.38 1.50 1.41 1.48 1.56 1.52 1.32 1.42 1.4" 1.52

I-portaciones de ca-arones por tipo de producto 191/193 1981  #$& D' (&D)C#&* camarone in cae/ac pelado enlatado in empani/ar cr!do otro 'mpani/ado T"TA)

+$'* D' $B(-*

+$'* D' D&-('*

1982 +$'* D' +$'* D' $B(-* D&-('*

140952

520254

1848"3

"50001

4383

8898

5332

10551

65540 8890

164842 21363

64889 14916

166984 38025

2995 2220

8518 23

3859 239

146"2 90233

1983 +$'* D' +$'* D' $B(-* D&-('* 216950

896306

131"6

25499

81562 2"056

218186 "2655

2685 3129

108"6 122322

.

4AI%

191 MI)'% (' MI)'% (' )I!#A% (")A#'%

192 MI)'% (' MI)'% (' )I!#A% (")A#'%

19 MI)'% (' )I!#A%

-+'($C- D' N&(#' meico "0866 panama 15923 el alador 6564 ond!ra 6180 !atemala 4546 cota rica 3499 nicara!a 3"81 otro 3395 su5total 11

290309 55406 20841 18506 14539 8916 12521 "339 23

801"0 1"615 "303 655" 4435 4431 2858 4549 1291

3"4"30 61216 2606" 18400 16698 10153 9205 9251 220

84562 16255 4"0" "020 3232 2535 1"65 4828 1290

-+'($C- D' *)( ec!ador rail per! otro su5total

24"35 10933 1920 11881 99

80303 23459 5"16 48849 132

36118 1269" 2949 1"418 912

136509 38488 9568 84""1 2933

5136" 14644 935" 20114 92

')(&-*$-)*#($-$-  -7($Csu5total

4816 51368 1216 113" 3

13620 114550 5684 331" 1311

4043 68830 1962 1934 9

124"5 1556"6 9"01 "325 11

20121 95658 2994 22"0 12103

2220

23

239

90233

3129

T"TA)

3 MI)'% (' (")A#'%

38802" 58694 16896 22"23 13481 63"9 6422 12260 22

218"29 44992 358"9 9322" 3922 54800 225619 14349 11045 3013 122322

C-#'&($- 2125 : B. 19"6 19"" 19"8 19"9 1980 1981 1982

100 98 99 136 115 121 156

C-#'&($- 3140 : B. 100 96 103 153 129 119 189

C-#'&($- 516" : B. 100 93 109 1"9 161 164 226

$N;'(*$&N'* 7$<-* c!ltio terreno contr!ccion tan=!ecanale ma=!inariae=!ipo edi>cio e=!ipo de peca

150 816 2"3 "5 180 19

(&C'*-+$'N#& planta de conelacion edi>cio e=!ipo de tranporte

-*#&* D' &'(-C$?N C-$#- D' #(-B-<&  #&#-'* $N;'(*$&N'*7$N-NC$-+$'N#&

300 "5 40 1 100 2009

C-$#- D' #(-B-<&

7$N-NC$-+$'N#& ('C)(*&* (&$&*

B-NC& D' D'*-((&&

150 816 2"3 "5 180 

1 300

200 2209

"5 40 11

300

100 200 1093

111

2209

1 (&D)CC$&N;'N#-* area de pro@ecto prod!ccion precio C$7 tranporte precio enta B$&+-( C&*#&*-*#&* D' &'(-C$?N cotoato ariale coto >Ao de prod!ccion ato adminitratio ato >nanciero D'('C$-C$&N edi>cio etan=!e ma=!inaria e=!ipo de peca e=!ipo tranporte ato operatio

2

3

150 150 150 2222 3333 4441 3.6 3.6 3.6 0.6 0.6 0.6 3 3 3

4

5

150 4441 3.6 0.6 3

150 4441 3.6 0.6 3

4441 3."9

1.25 20000 an!ale 100000 an!ale 14% intere an!al ore a

20 ao 10 ao 10 ao 10 ao 5 ao 5 ao

;-&('* ('*$D)-'* -. 7$<&* precio reeAan inacion terreno etan=!e @ canale ma=!inaria @ e=!ipo edi>cio planta de conelacion

&#(&* taa imp!eto ore la renta taa inacion eperada coto >Ao @ ato adminitratio

300000 204000 0 150000 150000 0000

30% 8% an!al a partir del 2do

4441 4.00

 

ldo

ao de operacione

4441 4.21

4441 4.44

4441 4.68

1981 !atemala el alador ond!ra nicara!a cota rica panama

1982 3.2 3.18 2.99 3.31 2.55 3.48

1983 3."" 3.5" 2.81 3.22 2.29 3.48

4.1" 3.59 3.24 3.64 2.52 3.61

1".81% 12.26% 6.02% 2."2% 10.20% 0.00% 1.86%

10.61% 0.56% 15.30% 13.04% 10.04% 3."4% 8.88%

14.21% 6.41% 4.64% 5.16% 0.08% 1.8"% 5.3"%

-N-$*$* 7$N-NC$'(& B$&+-( $ND)*#($- -CC -o (&D)CC$&N;'N#-* prod!ccion precio de enta in ete precio C$7 T"TA) (' I&6#'%"% C&*#&*-*#&* D' &'(-C$?N cotoato ariale coto >Ao de prod!ccion ato adminitratio T"TA) (' 6A%T"%

10.89% 0

1

E

333300 3 3.6 999,900.00

E E E E

416,625.00 20,000.00 100,000.00 536,625.00

D'('C$-C$&N edi>cio etan=!e ma=!inaria e=!ipo de peca e=!ipo tranporte ato pre operatio +a=!ina de conelaciFn T"TA) ('4#'CIACI"&'%

ato >nanciero -morti/acione )-$ $+)'*#&* )tilidad Neta amorti/acione depreciacione 7l!Ao de eGectio ;-&('* ('*$D)-'* -. 7$<&* *)78" (' '*'CTI" &'T" ;-N  #$( ('*)ATACI"& 4"# ('A)7ACI"&

"500 81600 2"300 18000 8000 20000 30000 192400

156240 E E E

114,635.00 34,390.50 80,244.50

E Q H1,093,000.00I E

192,400.00 2"2,644.50

Q H1,093,000.00I E E Q1,332,91.2 29.9

2"2,644.50 2"2,644.50

Q H1,093,000.00I E Q H1,093,000.00I E

1.05 259,661.43 1.11 234,161.2"

;-N  #$(

Q9,093.0 23.1

0.2351284134

2

3

4

5

6

499950 666150 666150 666150 666150 3 3 3 3 3.16 3.6 3.6 3.6 3.6 3."9 E 1,499,850.00 E 1,998,450.00 E 1,998,450.00 E 1,998,450.00 E 2,105,"66.""

E E E E

6"4,932.50 21,600.00 108,000.00 804,532.50

E 9"1,246."0 E 23,328.00 E 116,640.00 E 1,111,214."0

"500 81600 2"300 18000 8000 20000 30000 192400

"500 81600 2"300 18000 8000 20000 30000 192400

"500 81600 2"300 18000 8000 20000 30000 192400

"500 81600 2"300 18000 8000 20000 30000 192400

156240

156240

114,240

"2240

192,400.00 E 435,0"4.25 E

E E

435,0"4.25 E 269,416."1 E 236,588.69 E 1",21".58 E 543,489.39 "0","18."5 E 9"",135.46 E 1,213,"24.15 E 1,196,506.5" E 1,"39,995.96 E 1,213,"24.15

E

1.16 232,"32.28 E 1.36 1"0,6"8."6 E

E E E E E

1.22 194,642.10 E 1.51 128,"26.29 E

43",689.1" 131,306."5 306,382.42 516000 192,400.00 1",21".58

30000 164400

E E

E E

491,698.12 14",509.44 344,188.69 300000 192,400.00 236,588.69

"500 81600 2"300 18000

346,6"".50 E 104,003.25 E 242,6"4.25 E

E

E E E

E 1,223,491.12 E 29,386.56 E 146,932.81 E 1,399,810.49

E E E

1.10 394,625.1" E 1.23 320,922.39 E

538,595.30 161,5"8.59 3"",016."1 300000 192,400.00 269,416."1

E 1,048,946.44 E 1,132,862.15 E 25,194.24 E 2",209."8 E 125,9"1.20 E 136,048.90 E 1,200,111.88 E 1,296,120.83

E E E

541,556.2" 162,466.88 3"9,089.39

E E

164,400.00 543,489.39

1.28 13,490.42 E 1.68 8,045."0 E

1.34 405,560.15 1.86 218,122."6

"

8

9

10

666150 666150 666150 666150 3.33 3.51 3."0 3.90 4.00 4.21 4.44 4.68 E 2,218,846.44 E 2,33",998.49 E 2,463,549.01 E 2,595,841.60

E 1,321,3"0.41 E 1,42",080.05 E 31,"3".49 E 34,2"6.49 E 158,68".43 E 1"1,382.43 E 1,511,"95.33 E 1,632,"38.96

E 1,541,246.45 E 1,664,546.1" E 3",018.60 E 39,980.09 E 185,093.02 E 199,900.46 E 1,"63,358.0" E 1,904,426."2

"500 81600 2"300 18000

"500 81600 2"300 18000

"500 81600 2"300 18000

"500 81600 2"300 18000

30000 164400

30000 164400

30000 164400

30000 164400

E E E

542,651.11 E 162,"95.33 E 3"9,855."8 E

540,859.54 E 162,25".86 E 3"8,601.68 E

535,"90.94 E 160,"3".28 E 3"5,053.66 E

E E

164,400.00 E 544,255."8 E

164,400.00 E 543,001.68 E

164,400.00 E 539,453.66 E

1.41 386,"92.42 E 2.06 18",599.32 E

1.48 36",524.91 E 2.29 160,"48."9 E

1.55 34","36.64 E 2.54 13",15".32 E

52",014.8" 158,104.46 368,910.41

164,400.00 533,310.41 804000 E 544,255."8 E 543,001.68 E 539,453.66 E 1,33",310.41 E 2,284,251."4 E 2,82",253.41 E 3,366,"0".0" E 4,"04,01".48

E E

1.63 820,992.59 2.81 292,021.89

2

3

4

5 6 1.35 1.458 1.5"464 1."006112 1.836660096 1.350 1.458 1.5"464 1."006112 1.8366601 Q 9"1,246."0 Q 1,048,946.44 Q 1,132,862.15 Q 1,223,491.12

" 8 9 10 1.983592903" 2.142280336 2.313662"629 2.498"55"839 1.9835929 2.14228034 2.313662"6 2.498"55"8 Q 1,321,3"0.41 Q 1,42",080.05 Q 1,541,246.45 Q 1,664,546.1"

-N-$*$* 7$N-NC$'(& B$&+-( $ND)*#($- WACC -o (&D)CC$&N;'N#-* prod!ccion precio C$7 T"TA) (' I&6#'%"% C&*#&*-*#&* D' &'(-C$?N cotoato ariale coto >Ao de prod!ccion ato adminitratio coto tranporte @ maneAo $nternacional T"TA) (' 6A%T"%

13.01% 0

1 333300 3.6 E 1,199,880.00

E E E E E

D'('C$-C$&N edi>cio etan=!e ma=!inaria e=!ipo de peca e=!ipo tranporte ato pre operatio +a=!ina de conelaciFn T"TA) ('4#'CIACI"&'%

ato >nanciero -morti/acione )-$ $+)'*#&* )tilidad Neta 7l!Ao de eGectio ;-&('* ('*$D)-'* -. 7$<&* *)78" (' '*'CTI" &'T" ;-N  #$( ('*)ATACI"& 4"# ('A)7ACI"&

"500 81600 2"300 18000 8000 20000 30000 192400

156240 E E E Q H1,093,000.00I E

114,635.00 34,390.50 80,244.50 2"2,644.50

Q H1,093,000.00I E Q1,33,3.9 33.23

2"2,644.50

Q H1,093,000.00I E

;-N  #$(

416,625.00 20,000.00 100,000.00 199,980.00 "36,605.00

Q H1,093,000.00I E Q,0. 2.

1.05 259,661.43 1.1301 229,"6"."0

2

3

4

5

6

499950 666150 666150 666150 666150 3.6 3.6 3.6 3.6 3."9 E 1,"99,820.00 E 2,398,140.00 E 2,398,140.00 E 2,398,140.00 E 2,526,920.12

E 6"4,932.50 E 21,600.00 E 108,000.00 E 299,9"0.00 E 1,104,502.50

E 9"1,246."0 E 23,328.00 E 116,640.00 E 399,690.00 E 1,510,904."0

"500 81600 2"300 18000 8000 20000 30000 192400

"500 81600 2"300 18000 8000 20000 30000 192400

"500 81600 2"300 18000 8000 20000 30000 192400

"500 81600 2"300 18000 8000 20000 30000 192400

156240

156240 300000 238,595.30 "1,5"8.59 16",016."1 359,416."1

114,240 300000 191,698.12 5",509.44 134,188.69 326,588.69

"2240 516000 "8,310.83 23,493.25 54,81".58 13",582.42

E E E E

346,6"".50 104,003.25 242,6"4.25 435,0"4.25

E

435,0"4.25 E

359,416."1 E

1.10 394,625.1" E 1.28 308,992.45 E

1.16 310,4"".6" E 1.44 215,11".13 E

E E

E E E E

E 1,048,946.44 E 1,132,862.15 E 25,194.24 E 2",209."8 E 125,9"1.20 E 136,048.90 E 399,690.00 E 399,690.00 E 1,599,801.88 E 1,695,810.83

E E E E

E E E E

E 1,223,491.12 E 29,386.56 E 146,932.81 E 421,153.35 E 1,820,963.85

"500 81600 2"300 18000

30000 164400

E E E E

541,556.2" 162,466.88 3"9,089.39 543,489.39

326,588.69 E

13",582.42 E

543,489.39

1.22 268,685.32 E 1.63 164,"29.02 E

1.28 10","99.43 E 1.84 58,482.26 E

1.34 405,560.15 2.08 194,690.40

"

8

9

10

666150 666150 666150 666150 4.00 4.21 4.44 4.68 E 2,662,615."3 E 2,805,598.19 E 2,956,258.82 E 3,115,009.91

E 1,321,3"0.41 E 1,42",080.05 E 31,"3".49 E 34,2"6.49 E 158,68".43 E 1"1,382.43 E 421,153.35 E 421,153.35 E 1,932,948.68 E 2,053,892.31

E 1,541,246.45 E 1,664,546.1" E 3",018.60 E 39,980.09 E 185,093.02 E 199,900.46 E 421,153.35 E 421,153.35 E 2,184,511.43 E 2,325,580.0"

"500 81600 2"300 18000

"500 81600 2"300 18000

"500 81600 2"300 18000

"500 81600 2"300 18000

30000 164400

30000 164400

30000 164400

30000 164400

E E E E

565,26".04 169,580.11 395,686.93 560,086.93

E

560,086.93 E

5"5,514.12 E

625,029.84 18",508.95 43",520.89 601,920.89 804000 589,543.1" E 1,405,920.89

1.41 398,043.32 E 2.35 169,083.46 E

1.48 389,530.61 E 2.66 146,41".82 E

1.55 380,024."8 E 3.01 126,399.63 E

E E

E E E E

58",305.88 1"6,191."6 411,114.12 5"5,514.12

E E E E

60",34".39 182,204.22 425,143.1" 589,543.1"

E E E E

1.63 863,113.4" 3.40 254,029.01

2

3

4

5 6 1.35 1.458 1.5"464 1."006112 1.836660096 1.350 1.458 1.5"464 1."006112 1.8366601 Q 9"1,246."0 Q 1,048,946.44 Q 1,132,862.15 Q 1,223,491.12 1.450