Estudio financieroPRODUCCIN225000NDICE ACTUALIZACIN1.025PRECIO PRODUCTO, /Tm100DAS PRODUCCIN AL AO300Bomba B-01412314123Obra civilCAPITAL FIJOZonaSuperficie m2Precio /m2PrecioEquiposPrecio (/Tm)Produc.(Tm/ao)Mant y limpieza352508,750.00 EquipoPrecio, /undUnidadesPrecio, cido ntrico100.00 225,000.00 Oficinas500700350,000.00 Tanque almacenamiento NH3, 444 m3, AISI 3042057912411582 -0 -0 Vestuarios y aseos8040032,000.00 Tanque almacenamiento HNO3, 686 m3 AISI 30432371861942308Laboratorio9080072,000.00 Cambiador de calor CC-0121,653.00 1 21653Vigilancia103003,000.00 Cambiador de calor CC-0248,113.00 1 48113Aparcamiento8005040,000.00 Cambiador de calor CC-0339,275.00 1 39275Sala de proteccin elctrica3050015,000.00 Cambiador de calor CC-0432,034.00 1 32034Entrada de MP10020020,000.00 Cambiador de calor CC-056,126.00 1 6126Salida de producto10020020,000.00 Cambiador de calor CC-0635,457.00 1 35457Zona de produccin900350315,000.00 Cambiador de calor CC-0733,003.00 1 33003Almacn700300210,000.00 Cambiador de calor CC-0833,989.00 1 33989Sala de control de procesos9560057,000.00 Cambiador de calor CC-0917,312.00 1 17312Jardines y zonas de transito220050110,000.00 Cambiador de calor CC-1044,193.00 1 44193Cambiador de calor CC-1120937120937Reactor R01, V= 4,214 m335,241.00 1 35241Total5,640.00 1,252,750.00 Reactor R02, V=0,62 m339,519.00 1 39519Columna de absorcin, H=26m D=1,71 m1404331140433Stripper, H=3,52 D=1,4620342120342Compresor1251861125186TerrenoTurbina gas30290130290PrecioSuperficieTotalturbina vapor3617813617855,338.00 26,690.00 Total26 3,113,171.00

InstalacionesBomba P-1018,300.00 1 8,300.00 Tipo de instalacin% Respecto al coste de maquinariaTotal, Bomba P-1028,300.00 -0 -0 Aislamientos6187,288.26 Bomba P-1038,300.00 -0 -0 Red de tuberas y accesorios25780,367.75 Bomba P-1048,300.00 -0 -0 Red elctrica1.546,822.07 Total1 8,300.00 Telefona0.39,364.41 Total equipos3,121,471.00 Instrumentacin y control12374,576.52 Red saneamiento0.515,607.36 Red abastecimiento131,214.71 Total, 1,445,241.07

Instalacin maquinariaTotal936,441.30 Coste capital fsico6,782,593.37 Constitucin, organizacin y gestinPuesta en marchaEstudios previos, proyecto y direccin de obraImprevistosTotal135,651.87 Total203,477.80 Total339,129.67 Total135,651.87 Activos inmateriales813,911.20 Coste del capital fijo7,596,504.58 Financiacin capital fijoAportacin propia2,278,951.37 Subvenciones3,038,601.83 Mercado financiero2,278,951.37 Mercado financieroAoCuota, Resta por pagar, Comisin, IntersTotal a pagar, 1 -0 2,278,951.37 22,789.51 136,737.08 159,526.60 2 -0 2,278,951.37 -0 136,737.08 136,737.08 3284,868.92 1,994,082.45 -0 136,737.08 421,606.00 4284,868.92 1,709,213.53 -0 119,644.95 404,513.87 5284,868.92 1,424,344.61 -0 102,552.81 387,421.73 6284,868.92 1,139,475.69 -0 85,460.68 370,329.60 7284,868.92 854,606.76 -0 68,368.54 353,237.46 8284,868.92 569,737.84 -0 51,276.41 336,145.33 9284,868.92 284,868.92 -0 34,184.27 319,053.19 10284,868.92 -0 22,789.51 17,092.14 324,750.57 Inters:0.06Comisin apertura y cancelacin:0.01CAPITAL CIRCULANTEActivo circulanteClientes:Caja227,895.14 Clientes1,875,000.00 Stock MP395,437.47 Stock PT381,714.12 Precio (/Tm)Produc.(Tm/ao)Pago (/ao)cido ntrico100.00 225,000.00 22,500,000.00 Valor:2,880,046.73 Inters corto plazo (8%)94,825.18 Inters largo plazo (primer ao)159,526.60 Oxgeno -0 -0 -0 0.08Cada mes:1,875,000.00 Pasivo circulanteValor:1,694,732.00 Capital circulanteValor:1,185,314.73 Mercado financieroAoComisin CF, Inters CF, GF del CF, Inters CC, GF total, 122,789.51 136,737.08 159,526.60 94,825.18 254,351.77 2 -0 136,737.08 136,737.08 136,737.08 3 -0 136,737.08 136,737.08 136,737.08 4 -0 119,644.95 119,644.95 119,644.95 5 -0 102,552.81 102,552.81 102,552.81 6 -0 85,460.68 85,460.68 85,460.68 7 -0 68,368.54 68,368.54 68,368.54 8 -0 51,276.41 51,276.41 51,276.41 9 -0 34,184.27 34,184.27 34,184.27 1022,789.51 17,092.14 39,881.65 39,881.65

Cuenta de resultadosIngresosVentas (cido ntrico)Stock MP, Stock PT, Total IngresosAoIngreso por ventas, 395,437.47 381,714.12 Ao121,825,000.00 121,825,000.00 223,062,500.00 223,062,500.00 323,523,750.00 323,523,750.00 423,994,225.00 423,994,225.00 524,474,109.50 524,474,109.50 624,963,591.69 624,963,591.69 725,462,863.52 725,462,863.52 825,972,120.79 825,972,120.79 926,491,563.21 926,491,563.21 1027,021,394.47 1027,021,394.47

Stock PT, Tm6,750.00 Total27,021,394.47 GastosCOSTE DE FABRICACINMano de obraDireccin tcnicaDireccin comercialPuestoNmero trabajadoresSueldo bruto, /aoCoste anual, PuestoNmero trabajadoresSueldo bruto, /aoCoste anual, AoCoste, /aoDirector tcnico160,00060,000Director comercial135,00035,0001570,000.00 Subdirector de produccin e ingeniera140,00040,000Administrativos120,00020,0002584,250.00 Total2100,000Total255,0003598,856.25 4613,827.66 Direccin administrativaOperarios5629,173.35 PuestoNmero trabajadoresSueldo bruto, /aoCoste anual, PuestoNmero trabajadoresSueldo bruto, /aoCoste anual, 6644,902.68 Administrativos220,00040,000Oficiales de 1125,00025,0007661,025.25 Total240,000Oficiales de 2222,00044,0008677,550.88 Obreros820,000160,0009694,489.65 Total11229,00010711,851.89

Departamento de I + DPuestoNmero trabajadoresSueldo bruto, /aoCoste anual, Personal subcontratadoJefe de laboratorio135,00035,000PuestoNmero trabajadoresSueldo bruto, /aoCoste anual, Director de control de calidad135,00035,000Encargados de limpieza218,00036,000Auxiliares tcnicos122,00022,000Encargado de seguridad118,00018,000Total392,000Total354,000

Total:570,000.00

AoCoste1570,000.00 2584,250.00 3598,856.25 4613,827.66 5629,173.35 6644,902.68 Materia prima7661,025.25 Materia primaPrecio, /TmCantidad, Tm/aoCoste, /aoAoCoste, 8677,550.88 Amonaco3904312816,819,920.00 116,947,320.00 9694,489.65 Catalizador Platino1300000000.00098127,400.00 217,371,003.00 10711,851.89 317,805,278.08 Total16,947,320.00 418,250,410.03 518,706,670.28 619,174,337.03 719,653,695.46 820,145,037.85 920,648,663.79 1021,164,880.39 Servicios generalesAmortizacinAguaElementoCoste, Coeficiente de amortizacin, %Amortizacin, /aoAgua procesoMaquinaria3,121,471.00 10312,147.10 Cantidad, m3/aoPrecio, /m3TotalInstalaciones1,445,241.07 10144,524.11 74,054.00 1.25 92,567.50 Obra civil1,252,750.00 337,582.50 Agua red generalInstalacin maquinaria936,441.30 328,093.24 Cantidad, m3/aoPrecio, /m3TotalActivos inmateriales813,911.20 324,417.34 300.00 1.25 375.00 Total546,764.28 Total agua:92,942.50 Electricidad para maquinariaMaquinariaEquipoUnidadesPotencia unidad, kWPotencia, kWHoras de funcionamiento/daConsumo, kWh/da

Compresor1112434Torre de refrigeracin16624132Bomba15524120Equipos de laboratorio1202024480150240150240150240150240150240Reactor R01, V= 4,214 m31100240Reactor R02, V=0,62 m3170240Columna de absorcin, H=26m D=1,71 m1600240Stripper, H=3,52 D=1,461400240Compresor19,0000240Turbina gas1-9,0000240

Total4765.60

Consumo, kWh/daPrecio, /kWhTiempo operacin, dasCoste maquinaria765.60 0.1530034,452.00 IluminacinConsumo, kW/m2Superficie, m2Precio, /kWhTiempo operacin, hCoste iluminacin0.0045,640.00 0.15864029,237.76 Total consumo elctrico63,689.76 BasurasCoste, /ao900Total servicios generales157,532.26 AoCosteCOSTE TOTAL FABRICACIN 1157,532.26 PartidaValor, /aoAoCoste, 2161,470.57 Mano de obra570,000.00 118,221,616.54 3165,507.33 Materia prima16,947,320.00 218,663,487.85 4169,645.01 Servicios generales157,532.26 319,116,405.94 5173,886.14 Amortizacin546,764.28 419,580,646.98 6178,233.29 Total18,221,616.54 520,056,494.05 7182,689.13 620,544,237.29 8187,256.35 721,044,174.12 9191,937.76 821,556,609.36 10196,736.21 922,081,855.49 1022,620,232.77 COSTES COMERCIALESCOSTE VARIACIN EXISTENCIASPartidaPorcentaje ventas, %Coste, AoCosteStock MP395,437.47 Descuentos1218,250.00 11,527,750.00 Publicidad3654,750.00 21,565,943.75 Seguros1218,250.00 31,605,092.34 Distribucin2436,500.00 41,645,219.65 Total1,527,750.00 51,686,350.14 61,728,508.90 71,771,721.62 81,816,014.66 91,861,415.03 101,907,950.40 COSTES DE ESTRUCTURAPartidaPorcentaje sobre el capital fijo, %Coste, /aoAoCosteSuministros0.537,982.52 1609,737.84 Conservacin y mantenimiento2151,930.09 2624,981.29 Material de laboratorio3227,895.14 3640,605.82 Expedicin40,000.00 4656,620.97 Seguridad175,965.05 5673,036.49 Impuestos175,965.05 6689,862.40 Total609,737.84 7707,108.96 8724,786.69 9742,906.36 10761,479.01 TOTAL GASTOSPartidaCoste, /aoAoCoste, Fabricacin18,221,616.54 120,754,541.85 Comercializacin1,527,750.00 221,273,405.40 Estructura609,737.84 321,805,240.53 Variacin de existencias395,437.47 422,350,371.55 Total20,754,541.85 522,909,130.84 623,481,859.11 724,068,905.58 824,670,628.22 925,287,393.93 1025,919,578.78 CUENTA DE RESULTADOSPartidas, Ao 1Ao 2Ao 3Ao 4Ao 5Ao 6Ao 7Ao 8Ao 9Ao 10INGRESOS22,602,151.59 23,062,500.00 23,523,750.00 23,994,225.00 24,474,109.50 24,963,591.69 25,462,863.52 25,972,120.79 26,491,563.21 27,021,394.47 VENTAS brutas21,825,000.00 23,062,500.00 23,523,750.00 23,994,225.00 24,474,109.50 24,963,591.69 25,462,863.52 25,972,120.79 26,491,563.21 27,021,394.47

Stock M.P.395,437.47 -0 -0 -0 -0 -0 -0 -0 -0 -0

Stock P.T.381,714.12 -0 -0 -0 -0 -0 -0 -0 -0 -0

GASTOS20,754,541.85 20,854,412.89 21,361,296.75 21,880,836.56 22,413,348.40 22,959,156.23 23,518,592.13 24,091,996.44 24,679,718.03 25,282,114.48 C. fabricacin18,221,616.54 18,663,487.85 19,115,598.59 19,578,995.94 20,053,961.76 20,540,784.93 21,039,761.54 21,551,195.09 22,075,396.65 22,612,685.07 Mano de obra570,000.00 584,250.00 598,856.25 613,827.66 629,173.35 644,902.68 661,025.25 677,550.88 694,489.65 711,851.89 Materias primas16,947,320.00 17,371,003.00 17,805,278.08 18,250,410.03 18,706,670.28 19,174,337.03 19,653,695.46 20,145,037.85 20,648,663.79 21,164,880.39 Servicios157,532.26 161,470.57 164,699.98 167,993.98 171,353.86 174,780.93 178,276.55 181,842.08 185,478.93 189,188.50 Amortizacin546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 C. comerciales1,527,750.00 1,565,943.75 1,605,092.34 1,645,219.65 1,686,350.14 1,728,508.90 1,771,721.62 1,816,014.66 1,861,415.03 1,907,950.40 C. estructura609,737.84 624,981.29 640,605.82 656,620.97 673,036.49 689,862.40 707,108.96 724,786.69 742,906.36 761,479.01 V. existencias395,437.47 -0 -0 -0 -0 -0 -0 -0 -0 -0 R.O.1,847,609.74 2,208,087.11 2,162,453.25 2,113,388.44 2,060,761.10 2,004,435.46 1,944,271.40 1,880,124.35 1,811,845.18 1,739,279.99 G.F.254,351.77 136,737.08 136,737.08 119,644.95 102,552.81 85,460.68 68,368.54 51,276.41 34,184.27 39,881.65 Largo plazo159,526.60 136,737.08 136,737.08 119,644.95 102,552.81 85,460.68 68,368.54 51,276.41 34,184.27 39,881.65 Corto plazo94,825.18 -0 -0 -0 -0 -0 -0 -0 -0 -0 R.A.I.1,593,257.96 2,071,350.03 2,025,716.17 1,993,743.49 1,958,208.29 1,918,974.78 1,875,902.86 1,828,847.95 1,777,660.91 1,699,398.34 Impuestos477,977.39 621,405.01 607,714.85 598,123.05 587,462.49 575,692.43 562,770.86 548,654.38 533,298.27 509,819.50 B.D.1,115,280.57 1,449,945.02 1,418,001.32 1,395,620.44 1,370,745.80 1,343,282.35 1,313,132.00 1,280,193.56 1,244,362.63 1,189,578.84 F.D.1,115,280.57 2,565,225.59 3,983,226.91 5,378,847.35 6,749,593.16 8,092,875.50 9,406,007.50 10,686,201.07 11,930,563.70 13,120,142.54

Plan de tesoreraPLAN DE TESORERAPartidas, Ao 0Ao 1Ao 2Ao 3Ao 4Ao 5Ao 6Ao 7Ao 8Ao 9Ao 10INGRESOS8781819.3018764685.2723015625.0023190834.2023660108.0324138761.3324626981.5425124959.8425632891.2426150974.6426679412.92Ventas0.0019950000.0023015625.0023475703.1323944976.9524423630.2524911850.4625409828.7625917760.1726435843.5726964281.84Ventas Brutas0.0021825000.0023062500.0023523750.0023994225.0024474109.5024963591.6925462863.5225972120.7926491563.2127021394.47Clientes (inicio)0.000.001875000.001921875.001969921.882019169.922069649.172121390.402174425.162228785.792284505.43Clientes (final)0.00-1875000.00-1921875.00-1969921.88-2019169.92-2069649.17-2121390.40-2174425.16-2228785.79-2284505.43-2341618.07Patrimonial5317553.200.000.000.000.000.000.000.000.000.000.00Aportacin propia2278951.370.000.000.000.000.000.000.000.000.000.00Subvenciones3038601.830.000.000.000.000.000.000.000.000.000.00Exigible3464266.10-1185314.730.00-284868.92-284868.92-284868.92-284868.92-284868.92-284868.92-284868.92-284868.92Largo Plazo2278951.370.000.00-284868.92-284868.92-284868.92-284868.92-284868.92-284868.92-284868.92-284868.92Corto Plazo1185314.73-1185314.730.000.000.000.000.000.000.000.000.00PAGOS7596504.5818767397.3420879994.7821529247.0522016918.8822521633.9523038548.4423567952.9824110145.1824665429.8125256908.46Costes fabric - Amortiz0.0017674852.2618116723.5718568834.3019032231.6619507197.4819994020.6520492997.2621004430.8121528632.3722065920.78Costes de estructura0.00609737.84624981.29640605.82656620.97673036.49689862.40707108.96724786.69742906.36761479.01Gastos comerciales0.001527750.001565943.751605092.341645219.651686350.141728508.901771721.621816014.661861415.031907950.40Variacin de existencias0.00395437.470.000.000.000.000.000.000.000.000.00Gastos financieros0.00254351.77136737.08136737.08119644.95102552.8185460.6868368.5451276.4134184.2739881.65Proveedores (inicio)0.000.001694732.001737100.301780527.811825041.001870667.031917433.701965369.552014503.782064866.38Proveedores (final)0.00-1694732.00-1737100.30-1780527.81-1825041.00-1870667.03-1917433.70-1965369.55-2014503.78-2064866.38-2116488.04Inversiones7596504.580.000.000.000.000.000.000.000.000.000.00Impuestos0.000.00477977.39621405.01607714.85598123.05587462.49575692.43562770.86548654.38533298.27CAJA INICIAL0.001185314.731182602.663318232.884979820.036623009.188240136.569828569.6611385576.5212908322.5914393867.42CAJA PERIODO1185314.73-2712.072135630.221661587.151643189.151617127.381588433.101557006.861522746.061485544.831422504.45CAJA FINAL1185314.731182602.663318232.884979820.036623009.188240136.569828569.6611385576.5212908322.5914393867.4215816371.87Devolucin del prstamo del CC en un ao

BalanceBALANCEPartida, Ao 0Ao 1Ao 2Ao 3Ao 4Ao 5Ao 6Ao 7Ao 8Ao 9Ao 10ACTIVO8,781,819.30 10,884,494.54 12,510,860.48 13,663,933.35 14,799,373.22 15,909,531.61 16,991,791.64 18,043,437.25 19,061,650.12 20,043,506.38 20,963,183.78 Inmovilizado7,596,504.58 7,596,504.58 7,596,504.58 7,596,504.58 7,596,504.58 7,596,504.58 7,596,504.58 7,596,504.58 7,596,504.58 7,596,504.58 7,596,504.58 Material6,782,593.37 6,782,593.37 6,782,593.37 6,782,593.37 6,782,593.37 6,782,593.37 6,782,593.37 6,782,593.37 6,782,593.37 6,782,593.37 6,782,593.37 Inmaterial813,911.20 813,911.20 813,911.20 813,911.20 813,911.20 813,911.20 813,911.20 813,911.20 813,911.20 813,911.20 813,911.20 Fondo amortizacin -0 -546,764.28 -1,093,528.56 -1,640,292.85 -2,187,057.13 -2,733,821.41 -3,280,585.69 -3,827,349.98 -4,374,114.26 -4,920,878.54 -5,467,642.82 Existencias -0 395,437.47 395,437.47 395,437.47 395,437.47 395,437.47 395,437.47 395,437.47 395,437.47 395,437.47 395,437.47 Realizable -0 2,256,714.12 2,294,214.12 2,332,464.12 2,371,479.12 2,411,274.42 2,451,865.63 2,493,268.66 2,535,499.75 2,578,575.46 2,622,512.69 Clientes -0 1,875,000.00 1,912,500.00 1,950,750.00 1,989,765.00 2,029,560.30 2,070,151.51 2,111,554.54 2,153,785.63 2,196,861.34 2,240,798.57 Stock P.T. -0 381,714.12 381,714.12 381,714.12 381,714.12 381,714.12 381,714.12 381,714.12 381,714.12 381,714.12 381,714.12 Disponible1,185,314.73 1,182,602.66 3,318,232.88 4,979,820.03 6,623,009.18 8,240,136.56 9,828,569.66 11,385,576.52 12,908,322.59 14,393,867.42 15,816,371.87 PASIVO8,781,819.30 10,884,494.54 12,520,235.48 13,683,105.23 14,828,778.14 15,949,620.48 17,043,030.53 18,106,307.87 19,136,650.28 20,131,150.48 21,064,003.28 Recursos propios5,317,553.20 5,317,553.20 5,317,553.20 5,317,553.20 5,317,553.20 5,317,553.20 5,317,553.20 5,317,553.20 5,317,553.20 5,317,553.20 5,317,553.20 Fondo de beneficio -0 1,115,280.57 2,565,225.59 3,983,226.91 5,378,847.35 6,749,593.16 8,092,875.50 9,406,007.50 10,686,201.07 11,930,563.70 13,120,142.54 Exigible3,464,266.10 3,973,683.37 4,016,051.67 3,774,610.26 3,534,254.53 3,295,011.64 3,056,909.39 2,819,976.31 2,584,241.63 2,349,735.30 2,116,488.04 Largo plazo2,278,951.37 2,278,951.37 2,278,951.37 1,994,082.45 1,709,213.53 1,424,344.61 1,139,475.69 854,606.76 569,737.84 284,868.92 -0 Corto plazo1,185,314.73 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 Proveedores -0 1,694,732.00 1,737,100.30 1,780,527.81 1,825,041.00 1,870,667.03 1,917,433.70 1,965,369.55 2,014,503.78 2,064,866.38 2,116,488.04 Impuestos -0 477,977621,405607,715598,123587,462575,692562,771548,654533,298509,820

T.I.R.T.I.R.Partida, Ao 0Ao 1Ao 2Ao 3Ao 4Ao 5Ao 6Ao 7Ao 8Ao 9Ao 10Capital fijo-7,596,505 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 Capital circulante-1,185,315 -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 Amortizacin -0 546,764 546,764 546,764 546,764 546,764 546,764 546,764 546,764 546,764 546,764 Intereses financieros -0 254,352 136,737 136,737 119,645 102,553 85,461 68,369 51,276 34,184 39,882 Beneficio disponible -0 1,115,281 1,449,945 1,418,001 1,395,620 1,370,746 1,343,282 1,313,132 1,280,194 1,244,363 1,189,579 Valor residual -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 2,128,862 TOTAL-8,781,819 1,916,397 2,133,446 2,101,503 2,062,030 2,020,063 1,975,507 1,928,265 1,878,234 1,825,311 3,905,087 T.I.R. = 19.81%

Anlisis de sensibilidadESTRUCTURA DE COSTESPartida, Ao 1Ao 2Ao 3Ao 4Ao 5Ao 6Ao 7Ao 8Ao 9Ao 10C. Fabricacin18,221,616.54 18,663,487.85 19,116,405.94 19,580,646.98 20,056,494.05 20,544,237.29 21,044,174.12 21,556,609.36 22,081,855.49 22,620,232.77 Mano de obra570,000.00 584,250.00 598,856.25 613,827.66 629,173.35 644,902.68 661,025.25 677,550.88 694,489.65 711,851.89 Materias Primas16,947,320.00 17,371,003.00 17,805,278.08 18,250,410.03 18,706,670.28 19,174,337.03 19,653,695.46 20,145,037.85 20,648,663.79 21,164,880.39 Servicios generales157,532.26 161,470.57 165,507.33 169,645.01 173,886.14 178,233.29 182,689.13 187,256.35 191,937.76 196,736.21 Amortizacin546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 546,764.28 C. Comerciales1,527,750.00 1,565,943.75 1,605,092.34 1,645,219.65 1,686,350.14 1,728,508.90 1,771,721.62 1,816,014.66 1,861,415.03 1,907,950.40 Descuentos218,250.00 223,706.25 229,298.91 235,031.38 240,907.16 246,929.84 253,103.09 259,430.67 265,916.43 272,564.34 Publicidad654,750.00 671,118.75 687,896.72 705,094.14 722,721.49 740,789.53 759,309.27 778,292.00 797,749.30 817,693.03 Seguros218,250.00 223,706.25 229,298.91 235,031.38 240,907.16 246,929.84 253,103.09 259,430.67 265,916.43 272,564.34 Distribucin436,500.00 447,412.50 458,597.81 470,062.76 481,814.33 493,859.68 506,206.18 518,861.33 531,832.86 545,128.69 C. Estructura609,737.84 624,981.29 640,605.82 656,620.97 673,036.49 689,862.40 707,108.96 724,786.69 742,906.36 761,479.01 Suministros37,982.52 38,932.09 39,905.39 40,903.02 41,925.60 42,973.74 44,048.08 45,149.28 46,278.02 47,434.97 Conservacin, mantenimiento151,930.09 155,728.34 159,621.55 163,612.09 167,702.39 171,894.95 176,192.33 180,597.14 185,112.06 189,739.87 Material de laboratorio227,895.14 233,592.52 239,432.33 245,418.14 251,553.59 257,842.43 264,288.49 270,895.70 277,668.10 284,609.80 Expedicin40,000.00 41,000.00 42,025.00 43,075.63 44,152.52 45,256.33 46,387.74 47,547.43 48,736.12 49,954.52 Seguridad75,965.05 77,864.17 79,810.78 81,806.05 83,851.20 85,947.48 88,096.16 90,298.57 92,556.03 94,869.93 Impuestos75,965.05 77,864.17 79,810.78 81,806.05 83,851.20 85,947.48 88,096.16 90,298.57 92,556.03 94,869.93 V. Existencias395,437.47 -0 -0 -0 -0 -0 -0 -0 -0 -0 G. Financieros254,351.77 136,737.08 136,737.08 119,644.95 102,552.81 85,460.68 68,368.54 51,276.41 34,184.27 39,881.65 Largo Plazo159,526.60 136,737.08 136,737.08 119,644.95 102,552.81 85,460.68 68,368.54 51,276.41 34,184.27 39,881.65 Corto Plazo94,825.18 -0 -0 -0 -0 -0 -0 -0 -0 -0 TOTAL GASTOS21,008,893.63 20,991,149.97 21,498,841.19 22,002,132.55 22,518,433.49 23,048,069.27 23,591,373.24 24,148,687.12 24,720,361.14 25,329,543.83 ANLISIS DE SENSIBILIDADPartidaAo 1Ao 2Ao 3Ao 4Ao 5Ao 6Ao 7Ao 8Ao 9Ao 10C. Fabricacin86.73%88.91%88.92%88.99%89.07%89.14%89.20%89.27%89.33%89.30%Mano de obra2.71%2.78%2.79%2.79%2.79%2.80%2.80%2.81%2.81%2.81%Materias Primas80.67%82.75%82.82%82.95%83.07%83.19%83.31%83.42%83.53%83.56%Servicios generales0.75%0.77%0.77%0.77%0.77%0.77%0.77%0.78%0.78%0.78%Amortizacin2.60%2.60%2.54%2.49%2.43%2.37%2.32%2.26%2.21%2.16%C. Comerciales7.27%7.46%7.47%7.48%7.49%7.50%7.51%7.52%7.53%7.53%Descuentos1.04%1.07%1.07%1.07%1.07%1.07%1.07%1.07%1.08%1.08%Publicidad3.12%3.20%3.20%3.20%3.21%3.21%3.22%3.22%3.23%3.23%Seguros1.04%1.07%1.07%1.07%1.07%1.07%1.07%1.07%1.08%1.08%Distribucin2.08%2.13%2.13%2.14%2.14%2.14%2.15%2.15%2.15%2.15%C. Estructura2.90%2.98%2.98%2.98%2.99%2.99%3.00%3.00%3.01%3.01%Suministros0.18%0.19%0.19%0.19%0.19%0.19%0.19%0.19%0.19%0.19%Conservacin, mantenimiento0.72%0.74%0.74%0.74%0.74%0.75%0.75%0.75%0.75%0.75%Material de laboratorio1.08%1.11%1.11%1.12%1.12%1.12%1.12%1.12%1.12%1.12%Expedicin0.19%0.20%0.20%0.20%0.20%0.20%0.20%0.20%0.20%0.20%Seguridad0.36%0.37%0.37%0.37%0.37%0.37%0.37%0.37%0.37%0.37%Impuestos0.36%0.37%0.37%0.37%0.37%0.37%0.37%0.37%0.37%0.37%V. Existencias1.88%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%G. Financieros1.21%0.65%0.64%0.54%0.46%0.37%0.29%0.21%0.14%0.16%Largo Plazo0.76%0.65%0.64%0.54%0.46%0.37%0.29%0.21%0.14%0.16%Corto Plazo0.45%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%TOTAL GASTOS100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%