Escolar Documentos
Profissional Documentos
Cultura Documentos
Esta janela permite que voc defina o valor de destino de uma clula (por exemplo, a da receita
lquida) e uma premissa qualquer que a influencia (por exemplo, o volume de vendas). Note que os
botes
ao lado dos campos Definir clula e Alternando clula podem ser clicados para um
preenchimento mais confortvel;
4a. Expanda o campo Definir clula e v planilha Receita e impostos, selecionando em seguida a
clula que contm a receita lquida, F32:
4b. No campo Para valor, digite a receita antiga (por exemplo, 497117);
4c. Em seguida, expanda o campo Alternando clula e v planilha Painel de simulao,
selecionando em seguida a clula correspondente ao ano de 2010 da Variao no volume, D6:
Simulador de projeo
Principais premissas
2009/12
2010/12
2011/12
2012/12
2013/12
2014/12
-1.00%
0.00%
0.00%
0.00%
0.00%
Variao do volume
5.00%
3.00%
1.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
30
30
30
30
30
60
60
60
60
60
45
45
45
45
45
25.00%
25.00%
25.00%
25.00%
25.00%
2010/12
2011/12
2012/12
2013/12
2014/12
158,641
264,223
315,754
370,559
426,366
37,403
41,170
41,568
43,069
44,580
Novos investimentos
2009/12
(12,631)
(21,665)
(27,838)
(34,370)
29,030
(8,373)
28,540
19,903
15,231
10,210
201,940
226,129
303,035
329,372
358,731
389,021
Capital de terceiros
20,000
16,137
62,165
57,326
54,383
51,238
Capital do acionista
181,940
[=] EVA
AOL (Ativo Operacional Lquido)
209,992
240,870
272,046
304,347
337,783
29,030
28,540
19,903
15,231
10,210
28.73%
27.15%
20.15%
18.41%
16.79%
8.36%
8.59%
8.45%
8.40%
8.34%
3.44
3.16
2.38
2.19
2.01
14.36%
14.53%
13.58%
13.79%
13.94%
CCT%
8.50%
8.46%
8.08%
8.04%
8.04%
CT / AOL
9.90%
7.14%
20.51%
17.40%
15.16%
CCA%
15.00%
15.00%
15.00%
15.00%
15.00%
CP/ AOL
90.10%
92.86%
79.49%
82.60%
84.84%
Err:501
Err:501
Err:501
Err:501
Err:501
Err:501
Err:501
Err:501
Err:501
Err:501
EBITDA
82,381
85,765
85,416
85,009
84,593
Margem EBITDA
11.86%
11.99%
11.82%
11.77%
11.71%
RPL
20.56%
19.61%
17.26%
15.83%
14.65%
G (growth) / Valuation
2.00%
Err:501
EVA
35,000
120,000
30,000
100,000
25,000
80,000
20,000
60,000
15,000
40,000
10,000
20,000
5,000
40543
40908
41274
41639
42004
40543
40908
41274
41639
42004
Receita e impostos
2009/12
2010/12
2011/12
2012/12
2013/12
2014/12
Produto A
Preo de venda
34.00
Variao
Volume
12,000
Variao
Receita bruta
Impostos
33.66
33.66
33.66
33.66
33.66
-1.00%
0.00%
0.00%
0.00%
0.00%
12,600
12,978
13,108
13,108
13,108
5.00%
3.00%
1.00%
0.00%
0.00%
408,000
424,116
436,839
441,208
441,208
441,208
(121,125)
(125,909)
(129,687)
(130,984)
(130,984)
(130,984)
IPI
12.00%
(43,714)
(45,441)
(46,804)
(47,272)
(47,272)
(47,272)
ICMS
12.00%
(43,714)
(45,441)
(46,804)
(47,272)
(47,272)
(47,272)
PIS
1.65%
(6,011)
(6,248)
(6,436)
(6,500)
(6,500)
(6,500)
COFINS
7.60%
(27,686)
(28,779)
(29,643)
(29,939)
(29,939)
(29,939)
286,875
298,207
307,153
310,224
310,224
310,224
26.00
25.74
25.74
25.74
25.74
25.74
-1.00%
0.00%
0.00%
0.00%
0.00%
10,000
10,500
10,815
10,923
10,923
10,923
5.00%
3.00%
1.00%
0.00%
0.00%
Receita bruta
260,000
270,270
278,378
281,162
281,162
281,162
Impostos
(73,864)
(76,781)
(79,085)
(79,876)
(79,876)
(79,876)
Receita lquida
Produto B
Preo de venda
Variao
Volume
Variao
IPI
10.00%
(23,636)
(24,570)
(25,307)
(25,560)
(25,560)
(25,560)
ICMS
12.00%
(28,364)
(29,484)
(30,369)
(30,672)
(30,672)
(30,672)
PIS
1.65%
(3,900)
(4,054)
(4,176)
(4,217)
(4,217)
(4,217)
COFINS
7.60%
(17,964)
(18,673)
(19,233)
(19,426)
(19,426)
(19,426)
186,136
193,489
199,293
201,286
201,286
201,286
Receita bruta
668,000
694,386
715,218
722,370
722,370
722,370
[-] Impostos
(194,989)
(202,691)
(208,771)
(210,859)
(210,859)
(210,859)
473,011
491,695
506,446
511,511
511,511
511,511
Receita lquida
Consolidado
Custos e despesas
2009/12
2010/12
2011/12
2012/12
2013/12
2014/12
2.50
2.50
2.50
2.50
2.50
2.50
0.00%
0.00%
0.00%
0.00%
0.00%
(94,500)
(97,335)
(98,308)
(98,308)
(98,308)
Produto A
Matria-prima 1
Custo unitrio
Variao
Qtd por unidade produzida
Custo total
3.00
(90,000)
Matria-prima 2
Custo unitrio
2.00
Variao
Qtd por unidade produzida
Custo total
2.00
2.00
2.00
2.00
2.00
0.00%
0.00%
0.00%
0.00%
0.00%
(50,400)
(51,912)
(52,431)
(52,431)
(52,431)
2.00
(48,000)
Matria-prima 3
Custo unitrio
4.50
Variao
Qtd por unidade produzida
4.50
4.50
4.50
4.50
4.50
0.00%
0.00%
0.00%
0.00%
0.00%
1.00
Custo total
(54,000)
(56,700)
(58,401)
(58,985)
(58,985)
(58,985)
Custo varivel
(192,000)
(201,600)
(207,648)
(209,724)
(209,724)
(209,724)
Produto B
Matria-prima 1
Custo unitrio
1.25
Variao
Qtd por unidade produzida
Custo total
1.26
1.26
1.26
1.26
1.26
1.00%
0.00%
0.00%
0.00%
0.00%
(26,460)
(27,254)
(27,526)
(27,526)
(27,526)
2.00
(25,000)
Matria-prima 2
Custo unitrio
3.10
Variao
Qtd por unidade produzida
3.07
3.07
3.07
3.07
3.07
-1.00%
0.00%
0.00%
0.00%
0.00%
2.00
Custo total
(62,000)
(64,470)
(66,404)
(67,068)
(67,068)
(67,068)
Custo varivel
(87,000)
(90,930)
(93,658)
(94,594)
(94,594)
(94,594)
(24,360)
(24,360)
(24,360)
(24,360)
(24,360)
(19,488)
(19,488)
(19,488)
(19,488)
(19,488)
(4,872)
(4,872)
(4,872)
(4,872)
(4,872)
Depreciao
No perodo
Atribuvel ao custo
% do total
Atribuvel despesa
% do total
80.00%
20.00%
Mo-de-obra direta
Quadro inicial
Nmero de colaboradores
Salrio mdio e complementos
90
640.00
Contrataes no perodo
Nmero de colaboradores
1,200.00
1,200.00
800.00
800.00
800.00
800.00
90
91
92
93
93
93
Quadro consolidado
Nmero de colaboradores
Salrio mdio e complementos
Total de salrios
640
(57,600)
646.15
647.83
649.46
649.46
649.46
(58,800)
(59,600)
(60,400)
(60,400)
(60,400)
Mo-de-obra indireta
Quadro inicial
Nmero de colaboradores
Salrio mdio e complementos
60
640.00
Contrataes no perodo
Nmero de colaboradores
1,400.00
1,200.00
60
61
62
63
63
63
Quadro consolidado
Nmero de colaboradores
Salrio mdio e complementos
Total de salrios
640
(38,400)
629.51
641.94
650.79
650.79
650.79
(38,400)
(39,800)
(41,000)
(41,000)
(41,000)
Energia eltrica
Consumo (MW)
Tarifa mdia por MW
600
600
600
600
600
600
32.00
32.64
33.29
33.96
34.64
35.33
2.00%
2.00%
2.00%
2.00%
2.00%
(19,200)
(19,584)
(19,976)
(20,375)
(20,783)
(21,198)
(355,800)
(390,402)
(400,370)
(404,582)
(404,990)
(405,405)
(279,000)
(292,530)
(301,306)
(304,319)
(304,319)
(304,319)
(19,488)
(19,488)
(19,488)
(19,488)
(19,488)
(76,800)
(78,384)
(79,576)
(80,775)
(81,183)
(81,598)
(38,400)
(43,272)
(44,672)
(45,872)
(45,872)
(45,872)
Variao
Total de energia eltrica
Consolidado
CMV
Parte varivel
Depreciao
Parte fixa
Despesas operacionais
Imobilizado
2009/12
2010/12
2011/12
2012/12
2013/12
2014/12
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
203,000
203,000
203,000
203,000
203,000
203,000
(98,080)
Premissas
Alquota mdia de depreciao
Em operao
Ativo imobilizado
[-] Depreciao acumulada
[=] Lquido
(122,440)
(146,800)
178,000
(25,000)
153,640
(49,360)
129,280
(73,720)
104,920
80,560
56,200
Novos investimentos
Mquinas e equipamentos
Acumulado
[=] Lquido
Imobilizado
203,000
203,000
203,000
203,000
203,000
203,000
(25,000)
(49,360)
(73,720)
(98,080)
(122,440)
(146,800)
80,560
56,200
Consolidado
[=] Lquido
178,000
153,640
129,280
104,920
Novos investimentos
Depreciao no perodo
(24,360)
(24,360)
(24,360)
(24,360)
(24,360)
Balano
2009/12
2010/12
2011/12
2012/12
2013/12
2014/12
Recebimento de duplicatas
30
30
30
30
30
Pagamento a fornecedores
45
45
45
45
45
Rotao de estoques
60
60
60
60
60
Pagamento de impostos
30
30
30
30
30
280,774
312,281
393,503
420,674
451,119
482,566
102,774
158,641
264,223
315,754
370,559
426,366
7,774
52,020
154,404
204,837
259,641
315,448
Duplicatas a receber
50,000
57,866
59,601
60,197
60,197
60,197
Estoques
45,000
48,755
50,218
50,720
50,720
50,720
Permanente
178,000
153,640
129,280
104,920
80,560
56,200
203,000
203,000
203,000
203,000
203,000
203,000
(122,440)
(146,800)
Prazos mdios
Outras premissas
Integralizao de capital
Balano projetado
Ativo
Circulante
Disponvel e aplicaes
Imobilizado bruto
[-] Depreciao acumulada
(25,000)
(49,360)
(73,720)
(98,080)
178,000
153,640
129,280
104,920
80,560
56,200
280,774
312,281
393,503
420,674
451,119
482,566
82,697
90,124
95,307
94,245
95,533
96,908
Fornecedores
32,000
37,036
37,846
38,103
38,040
38,040
Impostos
16,000
16,891
17,398
17,572
17,572
17,572
3,000
3,606
3,723
3,823
3,823
3,823
18,170
19,268
21,209
21,414
22,187
22,966
9,664
9,351
10,293
10,392
10,767
11,145
3,863
3,972
4,839
2,943
3,145
3,363
16,137
12,165
57,326
54,383
51,238
47,875
Passivo
Circulante
Salrios e encargos
IR/CSLL
Dividendos
Emprstimos
Financiamentos
Exigvel de longo prazo
Financiamentos
16,137
12,165
57,326
54,383
51,238
47,875
Patrimnio lquido
181,940
209,992
240,870
272,046
304,347
337,783
Capital e reservas
152,000
152,000
152,000
152,000
152,000
152,000
Lucros acumulados
29,940
57,992
88,870
120,046
152,347
185,783
Total do ativo
280,774
312,281
393,503
420,674
451,119
482,566
Total do passivo
280,774
312,281
393,503
420,674
451,119
482,566
Resumo
Diferena
Financiamentos
2009/12
2010/12
2011/12
2012/12
2013/12
2014/12
Operao Price 1
Saldo inicial
10,000
Prazo do financiamento
Prestaes restantes
Nmero da parcela
Taxa anual
8.00%
Prestao
Juros pagos
Amortizao
Valor do principal
8.00%
8.00%
8.00%
8.00%
8.00%
(2,163)
(2,163)
(2,163)
(2,163)
(2,163)
(800)
(691)
(573)
(446)
(309)
(1,363)
(1,472)
(1,590)
(1,717)
(1,855)
10,000
8,637
7,165
5,575
3,857
2,003
Curto prazo
1,363
1,472
1,590
1,717
1,855
2,003
Longo prazo
8,637
7,165
5,575
3,857
2,003
Saldo inicial
50,000
Prazo do financiamento
24
Prestaes restantes
24
23
22
8.00%
8.00%
8.00%
8.00%
8.00%
8.00%
(4,749)
(4,749)
(4,749)
(4,000)
(3,940)
(3,875)
Operao Price 2
Nmero da parcela
Taxa anual
Prestao
Juros pagos
Amortizao
50,000
49,251
48,442
47,569
Curto prazo
749
809
874
943
Longo prazo
49,251
48,442
47,569
46,625
10,000
Prazo do financiamento
Prestaes restantes
9.00%
9.00%
9.00%
9.00%
9.00%
(3,400)
(3,175)
(2,950)
(642)
(604)
Valor do principal
(749)
(809)
21
(874)
Operao SAC 1
Saldo inicial
Nmero da parcela
Taxa anual
9.00%
Prestao
Juros pagos
Amortizao
(900)
(675)
(450)
(225)
(188)
(2,500)
(2,500)
(2,500)
(417)
(417)
Principal previsto
10,000
10,000
10,000
2,500
2,500
2,500
Parcelas previstas
Valor do principal
10,000
7,500
5,000
2,500
2,083
1,667
Curto prazo
2,500
2,500
2,500
417
417
417
Longo prazo
7,500
5,000
2,500
2,083
1,667
1,250
Consolidado
Juros pagos
(1,700)
(1,366)
(5,023)
(4,611)
(4,371)
Amortizao
(3,863)
(3,972)
(4,839)
(2,943)
(3,145)
20,000
16,137
62,165
57,326
54,383
51,238
Curto prazo
3,863
3,972
4,839
2,943
3,145
3,363
Longo prazo
16,137
12,165
57,326
54,383
51,238
47,875
Valor do principal
Operaes do caixa
2009/12
2010/12
2011/12
2012/12
2013/12
2014/12
30,000
100,000
154,000
154,000
154,000
Amortizao
Novos emprstimos
24.00%
24.00%
24.00%
24.00%
24.00%
24.00%
Taxa anual
Juros incorridos
7,774
52,020
154,404
204,837
259,641
75.00%
75.00%
75.00%
75.00%
75.00%
Caixa aplicado
5,831
39,015
115,803
153,628
194,731
Taxa anual
6.00%
6.00%
6.00%
6.00%
6.00%
350
2,341
6,948
9,218
11,684
DRE
2009/12
2010/12
2011/12
2012/12
2013/12
2014/12
Alquota IR/CSLL
34.00%
34.00%
34.00%
34.00%
34.00%
Alquota dividendos
25.00%
25.00%
25.00%
25.00%
25.00%
15.00%
15.00%
15.00%
15.00%
15.00%
Premissas
668,000
694,386
715,218
722,370
722,370
722,370
[-] Impostos
(189,773)
(202,691)
(208,771)
(210,859)
(210,859)
(210,859)
478,227
491,695
506,446
511,511
511,511
511,511
(339,000)
(390,402)
(400,370)
(404,582)
(404,990)
(405,405)
139,227
101,293
106,077
106,928
106,521
106,105
(38,400)
100,827
(44,672)
(45,872)
(45,872)
(45,872)
58,021
61,405
61,056
60,649
60,233
2,341
6,948
9,218
11,684
(2,100)
(1,700)
(1,366)
(5,023)
(4,611)
(4,371)
(30,160)
68,774
56,671
62,380
62,981
65,256
67,546
(18,170)
(19,268)
(21,209)
(21,414)
(22,187)
(22,966)
50,604
37,403
41,170
41,568
43,069
44,580
(20,664)
(10,293)
(10,392)
(10,767)
(11,145)
29,940
28,052
30,878
31,176
32,302
33,435
Lucro lquido
37,403
41,170
41,568
43,069
44,580
(8,373)
(12,631)
(21,665)
(27,838)
(34,370)
28,540
19,903
15,231
10,210
207
(43,272)
350
(9,351)
[=] EVA
29,030
Fluxo de caixa
2010/12
2011/12
2012/12
2013/12
2014/12
694,386
715,218
722,370
722,370
722,370
[-] Impostos
(202,691)
(208,771)
(210,859)
(210,859)
(210,859)
491,695
506,446
511,511
511,511
511,511
(370,914)
(380,882)
(385,094)
(385,502)
(385,917)
120,781
125,565
126,416
126,009
125,593
(38,400)
(39,800)
(41,000)
(41,000)
(41,000)
[=] EBITDA
82,381
85,765
85,416
85,009
84,593
(18,170)
(19,268)
(21,209)
(21,414)
(22,187)
64,211
66,496
64,207
63,595
62,406
(5,088)
(1,765)
(568)
(63)
59,123
63,640
63,533
62,406
2,341
6,948
9,218
11,684
(1,700)
(1,366)
(5,023)
(4,611)
(4,371)
(3,863)
(3,972)
(4,839)
(2,943)
(3,145)
350
64,732
50,000
53,910
111,734
60,726
65,196
66,574
(9,664)
(9,351)
(10,293)
(10,392)
(10,767)
44,246
102,384
50,433
54,805
55,807
44,246
102,384
50,433
54,805
55,807