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 Costeo Ideal a10 mil piezas 750 ml

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@+9,9B-BOPQ$B9B-(R%+- 3((((((((((((?F.052.. 3(((((((((((?F.052.. 3(((((((((((?F.052.. 3(((((((((((?F.052.. 3(((((((((((?F.052.. 3(((((((((((?F.052.. 3(((((((((((?F.052.. 3(((((((((((?F.052.. 3((((((((.7F:.?250 3((((((((.7F:.?250 3((((((((.7F:.?250 3((((((((((((((77?250 3((((((..:F;05211 3(((((((((..:F;05211 3(((((((((>>>F:?>244 3(((((((((5.>F1152:0 3(((((((((405F04420; 3(((((((((;47F;5?25.
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1 2 3 4 5 6 7 8 9 1: 11 12 (;(<= <>#+1 <>#+2 <>#+3 <>#+4 <>#+5

<-=-&(.(/+ >01 >01 >01 >01 >01 >01 >01 >01 >01 >01 >01 >01 >?:1 >?:1 ::.7 514? 5?:1 74.7
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A%"+-(B%(*'+%,,-&(451(6, 7511 7511 7511 7511 7511 7511 7511 7511 7511 7511 7511 7511 4?111 4?111 ?;411 .1>.55 ..?70? .>7:00
A%"+-(B%(#-$$-C'"%& 1 1 1 1 1 1 1 1 >01 >01 >01 >01 .0?1 .0?1 :;;0 7:;1 ?:>7 .1;74

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D#-'#+$,+E,0'.- FC++++++++74A743B84 FC++++++++74A743B84 FC++++++74A743B84 FC++++++74A743B84 FC++++++74A743B84 FC++++++74A743B84 FC++++++74A743B84 FC++++++74A743B84 FC++++++78A866B87 FC++++++78A866B87 FC++++++78A866B87 FC++++++78A866B87 FC+++++913A418B2: FC++++++++913A418B2: FC+++++1A:95A784B21 FC+++++1A269A799B73 FC+++++1A472A811B93 FC+++++1A71:A:38B64

D-$#%"(B%(E%"+- 3((((((.05F0572.7 3(((((.05F0572.7 3(((.05F0572.7 3(((.05F0572.7 3(((.05F0572.7 3(((.05F0572.7 3(((.05F0572.7 3(((.05F0572.7 3(((.:.F15>2.> 3(((.:.F15>2.> 3(((.:.F15>2.> 3(((.:.F15>2.> 3((.F577F07.2?1 3(((((.F577F07.2?1 3(((((.F;4:F;7424; 3(((((0F>1?F.442?4 3(((((0F410F:5?2;5 3(((((>F.41F0;?25.
7>G 7>G 7:G 75G 75G 75G
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G,0'. FC++++++++15A:::B:: FC++++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC++++++15A:::B:: FC+++++18:A:::B:: FC++++++++18:A:::B:: FC++++++++18:A9::B:: FC++++++++181A8:4B5: FC++++++++363A6:9B:: FC++++++++365A427B:5
H%,I$#- FC++++++++45A:::B:: FC++++++++45A:::B:: FC++++++45A:::B:: FC++++++45A:::B:: FC++++++45A:::B:: FC++++++45A:::B:: FC++++++45A:::B:: FC++++++45A:::B:: FC++++++45A:::B:: FC++++++45A:::B:: FC++++++45A:::B:: FC++++++67A5::B:: FC+++++562A5::B:: FC++++++++562A5::B:: FC++++++++618A75:B:: FC++++++++68:A625B:: FC++++++++748A687B5: FC++++++++823A556B25
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JK!LMN 3((((((((>;F4572.7 3(((((((>;F4572.7 3((((((>;F4572.7 3((((((>;F4572.7 3((((((>;F4572.7 3((((((>;F4572.7 3((((((>;F4572.7 3((((((>;F4572.7 3((((((55F55>2.> 3((((((55F55>2.> 3((((((55F55>2.> 3((((((>>F15>2.> 3(((((5.4F47.2?1 3((((((((5.4F47.2?1 3((((((((;07F:7424; 3(((((.F05;F7442?4 3(((((.F75>F;5?2;5 3(((((0F.0.F4;?25.
0.G 0.G >1G >5G :1G :>G
?P*%,-'#-+,-')P.$#- FC++++++++11A926B85 FC++++++++11A926B85 FC++++++11A926B85 FC++++++11A926B85 FC++++++11A926B85 FC++++++11A926B85 FC++++++11A926B85 FC++++++11A926B85 FC++++++16A665B94 FC++++++16A665B94 FC++++++16A665B94 FC++++++++9A915B94 FC+++++155A328B54 FC++++++++155A328B54 FC++++++++277A94:B34 FC++++++++377A9:3B36 FC++++++++496A187B68 FC++++++++636A539B55

@+9,9B-BOPQ$B9B-(R%+- 3((((((((04F?0;2>. 3(((((((04F?0;2>. 3((((((04F?0;2>. 3((((((04F?0;2>. 3((((((04F?0;2>. 3((((((04F?0;2>. 3((((((04F?0;2>. 3((((((04F?0;2>. 3((((((>?F??42.; 3((((((>?F??42.; 3((((((>?F??42.; 3((((((0>F.>42.; 3(((((>70F:>>207 3((((((((>70F:>>207 3((((((((7:?F5042:5 3((((((((??.F44:25. 3(((((.F.54F44.207 3(((((.F:?5F05?2;5
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!"#$%&'# S9B$'-,9E%
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1 2 3 4 5 6 7 8 9 1: 11 12 (;(<= <>#+1 <>#+2 <>#+3 <>#+4 <>#+5

<-=-&(.(/+ :51 :51 :51 :51 :51 :51 :51 :51 :51 :51 :51 :51 5:11 5:11 70.1 4.:0 >0.? ;::5
<-=-&(451(6, ?71 ?71 ?71 ?71 ?71 ?71 ?71 ?71 ?71 ?71 ?71 ?71 :?01 :?01 :;7> 54.? 7541 4557
@&8-$9'& 1 1 1 1 1 1 1 1 .11 .11 .11 .11 :11 :11 .571 010> 07?7 ?:04

A%"+-(B%(*'+%,,-&(.(/+ 7451 7451 7451 7451 7451 7451 7451 7451 7451 7451 7451 7451 >.111 >.111 ;?.51 .14.0? .0?.;. .:.741
A%"+-(B%(*'+%,,-&(451(6, ;111 ;111 ;111 ;111 ;111 ;111 ;111 ;111 ;111 ;111 ;111 ;111 .1>111 .1>111 .0:011 .:0>?1 .7:055 .>>>;?
A%"+-(B%(#-$$-C'"%& 1 1 1 1 1 1 1 1 :11 :11 :11 :11 .711 .711 70:1 >..0 .15:7 .?41;

/9+$'&(+'+-,%& .?511 .?511 .?511 .?511 .?511 .?511 .?511 .?511 0..11 0..11 0..11 0..11 .;0:11 .;0:11 ?1:>71 ?7>?4? ::74:> 5:?>.5

?0@",-#- C++++279A:::B:: C++279A:::B:: C++279A:::B:: C++279A:::B:: C++279A:::B:: C++279A:::B:: C++279A:::B:: C++279A:::B:: C++3:3A9::B:: C++3:3A9::B:: C++3:3A9::B:: C++3:3A9::B:: C++3A447A6::B:: C++++3A447A6::B:: C++++4A238A64:B:: C++++4A932A7:2B:: C++++5A748A353B1: C++++6A7:9A:75B61

D#-'#+$,+E,0'.- FC++++1:4A2:6B85 FC++1:4A2:6B85 FC++1:4A2:6B85 FC++1:4A2:6B85 FC++1:4A2:6B85 FC++1:4A2:6B85 FC++1:4A2:6B85 FC++1:4A2:6B85 FC++1:9A36:B64 FC++1:9A36:B64 FC++1:9A36:B64 FC++1:9A36:B64 FC++1A271A:97B37 FC++++1A271A:97B37 FC++++1A518A453B58 FC++++1A758A281B47 FC++++2A:37A7:1B5: FC++++2A363A737B87

D-$#%"(B%(E%"+- 3((((.4:F4;?2.5 3((.4:F4;?2.5 3((.4:F4;?2.5 3((.4:F4;?2.5 3((.4:F4;?2.5 3((.4:F4;?2.5 3((.4:F4;?2.5 3((.4:F4;?2.5 3((.;:F5?;2?7 3((.;:F5?;2?7 3((.;:F5?;2?7 3((.;:F5?;2?7 3(0F.47F51027? 3((((0F.47F51027? 3((((0F401F.>72:0 3((((?F.4:F:0125? 3((((?F4.1F75.271 3((((:F?:5F??424?
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H%,I$#- FC++++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++45A:::B:: FC+++++67A5::B:: FC+++++562A5::B:: FC+++++++562A5::B:: FC+++++++618A75:B:: FC+++++++68:A625B:: FC+++++++748A687B5: FC+++++++823A556B25
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N.-#I)0. FC++++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++4A:::B:: FC+++++++48A:::B:: FC++++++++++48A:::B:: FC++++++++++62A4::B:: FC++++++++++81A12:B:: FC+++++++1:5A456B:: FC+++++++137A:92B8:
!%OI)&)$.$ FC++++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++2:A:::B:: FC+++++24:A:::B:: FC+++++++24:A:::B:: FC+++++++288A:::B:: FC+++++++345A6::B:: FC+++++++414A72:B:: FC+++++++497A664B::

JK!LMN 3((((((>;F0;?2.5 3((((>;F0;?2.5 3((((>;F0;?2.5 3((((>;F0;?2.5 3((((>;F0;?2.5 3((((>;F0;?2.5 3((((>;F0;?2.5 3((((>;F0;?2.5 3((.1;F1?;2?7 3((.1;F1?;2?7 3((.1;F1?;2?7 3((((>7F5?;2?7 3(.F.0>F11027? 3((((.F.0>F11027? 3((((.F74.F7>72:0 3((((0F.05F;0125? 3((((0F770F.5.271 3((((?F0;7F>?424?
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@+9,9B-BOPQ$B9B-(R%+- 3((((((70F515201 3((((70F515201 3((((70F515201 3((((70F515201 3((((70F515201 3((((70F515201 3((((70F515201 3((((70F515201 3((((47F?04255 3((((47F?04255 3((((47F?04255 3((((71F544255 3(((((4>;F71.2>: 3(((((((4>;F71.2>: 3((((.F.41F.>12:; 3((((.F:>>F.::2?4 3((((.F>7?F5172.0 3((((0F?14F4>72:.
0?G 0?G 0>G ?1G ?0G ?:G
Indicadores Financieros
 Valuación Escenario Bajo
VALUACIÓN TOTAL 100% Acciones
WACC 21.00%
Año Flujos Suma VP Suma
0 $ 617,000.00 $ 617,000.00 $ 617,000.00 $ 617,000.00
1 $ 114,925.00 $ 502,075.00 $ 94,979.34 $ 522,020.66
2 $ 333,483.77 $ 168,591.23 $ 227,773.90 $ 294,246.76
3 $ 513,005.42 $ 344,414.19 $ 289,578.19 $ 4,668.58
4 $ 725,277.29 $ 1,069,691.48 $ 338,347.21 $ 333,678.63
5 $ 976,958.51 $ 2,046,649.98 $ 376,659.80 $ 710,338.43

Métodos de valuación PR= 2.33 años

RAP= 86.34%
VPN=
PRD=
IR=
$ 710,338.43
3.02 años
2.15
Valuación Escenario Medio
TIR= 25.96%

VALUACIÓN TOTAL 100% Acciones

WACC 21.00%
Año Flujos Suma VP Suma
0 $ 617,000.00 $ 617,000.00 $ 617,000.00 $ 617,000.00
1 $ 362,433.26 $ 254,566.74 $ 299,531.62 $ 317,468.38
2 $ 648,527.45 $ 393,960.71 $ 442,952.97 $ 125,484.59
3 $ 881,774.51 $ 1,275,735.22 $ 497,738.72 $ 623,223.32
4 $ 1,157,771.26 $ 2,433,506.49 $ 540,108.84 $ 1,163,332.16
5 $ 1,485,258.95 $ 3,918,765.44 $ 572,631.62 $ 1,735,963.78

Métodos de valuación PR= 1.39 años

RAP= 147.03%
VPN= $ 1,735,963.78
PRD= 1.72 años
IR= 3.81
TIR= 60.19%

Valuación Escenario Ideal

VALUACIÓN TOTAL 100% Acciones
WACC 21.00%
Año Flujos Suma VP Suma
0 $ 617,000.00 $ 617,000.00 $ 617,000.00 $ 617,000.00
1 $ 789,601.84 $ 172,601.84 $ 652,563.50 $ 35,563.50
2 $ 1,170,180.49 $ 1,342,782.33 $ 799,249.02 $ 834,812.52
3 $ 1,488,144.37 $ 2,830,926.70 $ 840,018.70 $ 1,674,831.23
4 $ 1,863,506.12 $ 4,694,432.82 $ 869,339.36 $ 2,544,170.58
5 $ 2,307,786.41 $ 7,002,219.24 $ 889,751.57 $ 3,433,922.15

Métodos de valuación PR= 0.78 años

RAP= 246.98%
VPN= $ 3,433,922.15
PRD= 0.95 años
IR= 6.57
TIR= 115.74%