Revenue New PDA -Lost sales (from old PDA) -Lost revenue (from old PDA) Total Revenue
Year 0
Costs Variable: New PDA Fixed Cost recovery: Old PDA Fixed Costs: New PDA Total Costs
Year 0
0 0 0 0
Net WC Beg End Change in NWC Net CF NPV (@ 12% discount) = 13,111,555 NPV (@ 30% discount) IRR (NPV = 0)
Year 2 28275000 17625000 3480000 7170000 2509500 4660500 3480000 0
Year 3 45000000 24075000 3480000 17445000 6105750 11339250 3480000 0
Year 4 37800000 20975000 3480000 13345000 4670750 8674250 3480000 0
Year 1 Year 2 0 0 21312000 0 21312000 27360000 0 21312000 6048000
Year 3 27360000 36000000 8640000
Year 4 36000000 30240000 -5760000
0 0 0 0 0 0 0 950000 Year 0
Year 2 Year 3 Year 4 34200000 45000000 37800000 17400000 0 0 11475000 0 0 28275000 45000000 37800000
Year 1 Year 2 Year 3 Year 4 0 11470000 14725000 19375000 16275000 0 1800000 1800000 0 0 0 4700000 4700000 4700000 4700000 0 14370000 17625000 24075000 20975000
Year 0 Total Revenue -Total Costs -Depreciation (Straight Line) Earnings before Int & Taxes (Rev - Costs- Depr.) -Taxes Net Operating Profit After Taxes (EBIT - Taxes) Depreciation (Straight Line) -Capital Expenditure
Year 1 26640000 23200000 16575000 20015000
Year 1 20015000 14370000 3480000 2165000 757750 1407250 3480000 0
-950000 -16424750 2092500 6179250 17914250
Year 5 28800000 0 0 28800000 Year 5 12400000 0 4700000 17100000 Year 5 28800000 17100000 3480000 8220000 2877000 5343000 3480000 1435000 Year 5 30240000 23040000 -7200000 14588000
Revenue New PDA -Lost sales (from old PDA) -Lost revenue (from old PDA) Total Revenue
=0 0 0 0
Year 0
Year 1 =(360*74000) =(290*80000) =(255*65000) =((G2-(G3-G4)))
Costs Variable: New PDA Fixed Cost recovery: Old PDA Fixed Costs: New PDA Total Costs
0 0 0 0
=(155*74000) 1800000 4700000 =(G8-G9+G10)
=(155*95000) 1800000 4700000 =(H8-H9+H10)
Total Revenue -Total Costs -Depreciation (Straight Line) Earnings before Int & Taxes (Rev - Costs- Depr.) -Taxes Net Operating Profit After Taxes (EBIT - Taxes) Depreciation (Straight Line) -Capital Expenditure
Year 0 0 0 0 =(F14-F15-F16) =(F17*0.35) =(F17-F18) =F16 =-21500000
Year 1 =G5 =G11 3480000 =(G14-G15-G16) =(G17*0.35) =(G17-G18) =G16 0
=H5 =H11 3480000 =(H14-H15-H16) =(H17*0.35) =(H17-H18) =H16 0
Net WC Beg End Change in NWC
0 =F2*0.2 0
0 =(G2*0.2) -5328000
5328000 =(H2*0.2) =(H24-H25)
6840000 =(I2*0.2) =(I24-I25)
Net CF
=-F21
=(G19+G20)-(G21)-(-G26)
=(H19+H20)-(H21)-(-H26)
NPV (@ 12% discount) = 13,111,555 NPV (@ 30% discount) = -1,491,908 IRR (NPV = 0) = 27.48
= -21500000 = -21500000 -21500000 =
(-440750)/(1.12) (-440750)/(1.30) -440750/(1+IRR)
(6628500)/(1.12^2) (6628500)/(1.30^2) 6628500/(1+IRR)^2
Year 0
Year 2 =(360*95000) =(290*60000) =(255*45000) =((H2-(H3-H4)))
Year 1
Year 0
Year 3
Year 4
Year 5 =(360*80000) 0 0 =((K2-(K3-K4)))
Year 4
Year 5 =(155*80000) 0 4700000 =(K8-K9+K10)
Year 4
Year 5 =K5 =K11 3480000 =(K14-K15-K16) =(K17*0.35) =(K17-K18) =K16 =4100000+(4100000*0.35)
Year 4 9000000 =(J2*0.2) =(J24-J25)
Year 5 7560000 0 =(K24-K25)
=(I19+I20)-(I21)-(-I26)
=(J19+J20)-(J21)-(-J26)
=(K19+K20)-(-K21)-(-K26)
(12659250)/(1.12^3) (12659250)/(1.30^3) 12659250/(1+IRR)^3
(13594250)/(1.12^4) (13594250)/(1.30^4) 13594250/(1+IRR)^4
(21918000)/(1.12^5) (21918000)/(1.30^5) 21918000/(1+IRR)^5
=(360*125000) 0 0 =((I2-(I3-I4))) Year 2
Year 3 =155*125000 0 4700000 =(I8-I9+I10)
Year 2
Year 1
=(360*105000) 0 0 =((J2-(J3-J4)))
=(155*105000) 0 4700000 =(J8-J9+J10) Year 3
=I5 =I11 3480000 =(I14-I15-I16) =(I17*0.35) =(I17-I18) =I16 0 Year 2
=J5 =J11 3480000 =(J14-J15-J16) =(J17*0.35) =(J17-J18) =J16 0 Year 3
Revenue New PDA -Lost sales (from old PDA) -Lost revenue (from old PDA) Total Revenue
Year 0 -
Year 1 26,640,000 23,200,000 16,575,000 20,015,000
Year 2 34,200,000 17,400,000 11,475,000 28,275,000
Costs Variable: New PDA Fixed Cost recovery: Old PDA Fixed Costs: New PDA Total Costs
Year 0 -
Year 1 11,470,000 1,800,000 4,700,000 14,370,000
Year 2 14,725,000 1,800,000 4,700,000 17,625,000
Year 1 20,015,000 14,370,000 3,480,000 2,165,000 757,750 1,407,250 3,480,000 (21,500,000) -
Year 2 28,275,000 17,625,000 3,480,000 7,170,000 2,509,500 4,660,500 3,480,000 -
Year 0
Total Revenue -Total Costs -Depreciation (Straight Line) Earnings before Int & Taxes (Rev - Costs- Depr.) -Taxes Net Operating Profit After Taxes (EBIT - Taxes) Depreciation (Straight Line) -Capital Expenditure Net WC Beg End Change in NWC Net CF NPV (@ 12% discount) = 13,111,555 NPV (@ 30% discount) IRR (NPV = 0)
Year 0 21,500,000
Year 1 5,328,000 (5,328,000)
Year 2 5,328,000 6,840,000 (1,512,000)
10,215,250
9,652,500
Year 3 45,000,000 45,000,000
Year 4 37,800,000 37,800,000
Year 5 28,800,000 28,800,000
Year 3 19,375,000 4,700,000 24,075,000
Year 4 16,275,000 4,700,000 20,975,000
Year 5 12,400,000 4,700,000 17,100,000
Year 3 45,000,000 24,075,000 3,480,000 17,445,000 6,105,750 11,339,250 3,480,000 -
Year 4 37,800,000 20,975,000 3,480,000 13,345,000 4,670,750 8,674,250 3,480,000 -
Year 5 28,800,000 17,100,000 3,480,000 8,220,000 2,877,000 5,343,000 3,480,000 5,535,000
Year 3 1,512,000 9,000,000 (7,488,000) 22,307,250
Year 4 7,488,000 7,560,000 (72,000) 12,226,250
Year 5 72,000 72,000 14,286,000