Tasa libre de riesgo (rf) 5.

40%
Beta del Sector (ß) 95%
Prima del mercado (MP) 10.40%
 2004 2005 2006 2007
Utilidad Ejercicio 24,827,609 17,645,567 (49,339,005) (20,358,190)
Utilidad Operativa 33,599,892 25,695,277 (39,254,536) (18,496,916)
UDIO 37,745,260 29,815,685 (40,067,729) (18,273,392)
Capital Empresa 111,230,000 111,230,000 111,230,000 111,230,000
CPPC (C*) 12.73% 12.58% 15.28% 15.35%

EVA 23,581,232 15,822,046 (57,063,673) (35,347,124)

 2008
542,465
4,629,207
4,336,904
111,230,000
15.28%

(12,659,040)
 2004 2005 2006
Utilidad Operativa 33,599,892 25,695,277 (39,254,536)
Ingresos no operacionales 20,330,216 17,972,408 2,530,807
(Renta y complementarios) 16,184,848 13,852,000 3,344,000
UODI 37,745,260 29,815,685 (40,067,729)

2004 2005 2006

 2007 2008
(18,496,916) 4,629,207
2,653,524 2,529,697
2,430,000 2,822,000
(18,273,392) 4,336,904

2007 2008
 2004 2005 2006
C* 15.28% 15.28% 15.28%
Patrimonio 204,619,870 191,093,547 168,708,753
Activo 245,530,997 232,092,254 168,708,753
Ci 0 0 0
Pasivo 38,954,982 39,893,884 35,338,796
t 35% 35% 35%

CPPC 12.73% 12.58% 15.28%

 2007 2008
15.28% 15.28%
145,305,873 150,203,657
144,643,856 150,203,657
0 0
32,294,106 36,649,427
34% 33.00%

15.35% 15.28%