mano de obra

conductores
peones
otro personal
S.S.
Coste total mano de obra: (con seguros sociales)
Costes operativos + mantenimiento:
Seguros: 3% de maquinaria y camiones
Alquiler de terrenos
Produccin estimada: 280 das al 75% de produccin
Cobros anuales16 cada m2
Pagos variables: 9.5 cada m2

Hiptesis de clculo:
U. Producidas = U. Vendidas
Operacin realizada al contado
Ingresos = Cobros
Pagos = Gastos
Beneficio = Flujo neto de caja.
Desembolso inicial: maquinaria, camiones y circulante

6500
16
9.5

1,000,000.00
600,000.00
400,000.00
12%
2,240,000.00
850,000.00
198,000.00
2,400,000.00
1365000
21840000
12967500

11,600,000.00

aos
desembolso inic
Cobros
Pagos fijos:
Pagos variables:
FNC act. prod.
amortizaciones
B.I.
Impuestos(30%)
Valor residual
Rec. circulante
FNC
FNC act. prod.
(-) Impuestos
(+)Valor residual
(+)circulante
FNC

0
-11600000

-11600000

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500

21,840,000
5,688,000
12,967,500
3,184,500

3,184,500
955,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
955,350

2,565,150

2,565,150

2,565,150

2,565,150

2,565,150

2,229,150

3,184,500
955,350
1,000,000
5,000,000
9,184,500
3,184,500
955,350
1,000,000
5,000,000
8,229,150

Caso 3: GENERACIN FLUJOS DE CAJA

aos
desembolso inic
Cobros
Pagos fijos:
Pagos variables:
FNC act. prod.
amortizaciones
B.I.
Impuestos(30%)
Valor residual
Rec. circulante
FNC
FNC act. prod.
(-) Impuestos
(+)Valor residual
(+)circulante
FNC

calculo del VAN (10%)

calculo del VAN (5%)
calculo del VAN (3%)
Clculo de la TIR

0
-11600000

1
21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

3,184,500
3,184,500
619,350

-11600000

2,565,150

3,605,088.87
7,017,486.40
8,705,565.93
17.56%

Calculo del VAN ajustado (Amp. Cap.)

N-0,02N = 11600000
N=
Variacion D=
N-D
Calculo del VAN ajustado (A. Cap) (10%)
3,368,354.18
Calculo del VAN ajustado (A. Cap) (5%)
6,780,751.71
Calculo del VAN ajustado (A. Cap) (3%)
8,468,831.24

GENERACIN FLUJOS DE CAJA

2

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
955,350

2,565,150

2,565,150

2,565,150

2,565,150

2,229,150

= 11600000
11836734.69
236734.6939

3,184,500
955,350

7
21,840,000
5,688,000
12,967,500
3,184,500
3,184,500
955,350
1,000,000
5,000,000
9,184,500
3,184,500
955,350
1,000,000
5,000,000
8,229,150

Caso 3: GENERACIN FLUJOS DE CAJA

aos
desembolso inic
Cobros
Pagos fijos:
Pagos variables:
FNC act. prod.
amortizaciones
B.I.
Impuestos(30%)
Valor residual
Rec. circulante
FNC
FNC act. prod.
(-) Impuestos
(+)Valor residual
(+)circulante
FNC

calculo del VAN (10%)

calculo del VAN (5%)
calculo del VAN (3%)
Clculo de la TIR

0
-11600000

1
21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

3,184,500
3,184,500
619,350

-11600000

2,565,150

3,605,088.87
7,017,486.40
8,705,565.93
17.56%

Calculo del VAN ajustado (prestamo)

Anualidad

1,840,232.63
0.00
-889,909.88

VAN credito(10%)
VAN credito(5%)
VAN credito(3%)
CON AHORRO FISCAL:
tipo fiscal

30.00%

tipo de interes

10.00%

Cuadro del prestamo

Perodo

Origen
1
2
3
4
5
6
7

Rdito
perodo

Trmino
amortizativo

5.00%
5.00%
5.00%
5.00%
5.00%
5.00%
5.00%

2,004,710
2,004,710
2,004,710
2,004,710
2,004,710
2,004,710
2,004,710

Calculo del VAN ajus(prest) (10%)

Calculo del VAN ajus(prest) (5%)
Calculo del VAN ajus(prest) (3%)

GENERACIN FLUJOS DE CAJA

2

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
955,350

2,565,150

2,565,150

2,565,150

2,565,150

2,229,150

n= 7
i= 5.00%
C0 = (11,600,000)

Calculo del VAN ajus(prest) (10%)

Calculo del VAN ajus(prest) (5%)
Calculo del VAN ajus(prest) (3%)

3,184,500
955,350

a= 2,004,710

5,445,321.50
7,017,486.40
7,815,656.05

5.00%

3.00%

Cuota de
inters

Cuota de
amortizacin

Capital
amortizado

580,000
508,765
433,967
355,430
272,966
186,379
95,462

1,424,710
1,495,945
1,570,743
1,649,280
1,731,744
1,818,331
1,909,248

1,424,710
2,920,655
4,491,398
6,140,678
7,872,422
9,690,752
11,600,000

5,997,391.29
7,648,066.61
8,483,088.46

Capital
vivo
11,600,000
10,175,290
8,679,345
7,108,602
5,459,322
3,727,578
1,909,248
0

ahorro fiscal

174000
152629.3516
130190.1708
106629.0309
81889.83402
55913.67731
28638.71277

7
21,840,000
5,688,000
12,967,500
3,184,500
3,184,500
955,350
1,000,000
5,000,000
9,184,500
3,184,500
955,350
1,000,000
5,000,000
8,229,150

va ahorro fiscal
10.00%

158181.8182
126139.96
97813.80222
72829.06283
50847.14409
31561.81318
14696.18795
552069.7884

va ahorro fiscal
5.00%

165714.2857
138439.3212
112463.1645
87723.9676
64162.82773
41723.64689
20352.99849
630580.212

va ahorro fiscal
3.00%

168932.0388
143867.8024
119142.4489
94738.51288
70638.89018
46826.82448
23285.89425
667432.412

Caso 3: GENERACIN FLUJOS DE CAJA

aos
desembolso inic
Cobros
Pagos fijos:
Pagos variables:
FNC act. prod.
amortizaciones
B.I.
Impuestos(30%)
Valor residual
Rec. circulante
FNC
FNC act. prod.
(-) Impuestos
(+)Valor residual
(+)circulante
FNC

0
-11600000

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

3,184,500
3,184,500
619,350

-11600000

calculo del VAN (10%)

calculo del VAN (5%)
calculo del VAN (3%)
Clculo de la TIR

Clculo del VAN con Inflacin

aos
FNC
FNC con inflacin

calculo del VAN (10%)

calculo del VAN (5%)
calculo del VAN (3%)

2,565,150

3,277,353.52
6,683,320.38
8,452,005.76
17.56%

afecta a FNC=

1
-11600000

2565150

-11600000

2515820.192

2,197,311.40
5,225,320.52
6,798,026.92

Clculo de la TIR

15.30%

GENERACIN FLUJOS DE CAJA

2

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500
1,120,000
2,064,500
619,350

21,840,000
5,688,000
12,967,500
3,184,500

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
619,350

3,184,500
3,184,500
955,350

2,565,150

2,565,150

2,565,150

2,565,150

2,229,150

2.00%

3,184,500
955,350

Inflacin= 4.00%

2565150

2565150

2565150

2565150

2229150

2467439.035

2419988.284

2373450.048

2327806.778

1983993.697

7
21,840,000
5,688,000
12,967,500
3,184,500
3,184,500
955,350
1,000,000
5,000,000
9,184,500
3,184,500
955,350
1,000,000
5,000,000
8,229,150

7
8229150
7183280.175