Profitability appraisal盈利能力评估

0K 380K -380K 705K 44K 749K
0K 297K -297K 788K 34K 822K
0K 197K -197K 888K 22K 910K
0K 0K 0K 0K 0K 0K
0K 0K 0K 0K 0K 0K
-81K -646K
37%
- yearly = (B-C)*(1-Tax Rate) - Tax impact / Tax optimization - cumulative
CGG
NEW PRODUCTS : PROFITABILITY APPRAISAL RETURN ON INVESTMENT GRAPH
Maquette New Products Total Capital Employed -2,014K 0 2008 -1,031K +1 2009 -529K +2 2 year(s) 1 year(s) 2010 25K +3 2011 571K +4 11 month(s) 11 month(s) 2012 1,155K +5 2013 1,670K +6
55%
N.P.V. :
1,670K
11 month(s)
PAYBACK NEW PRODUCTS:
YEARS OF ACHIEVEMENT
VAT Rate :
19.6%
Years
2008 1
2009 2
2010 3
2011 4
2012 5
2013 6
2014 7
2015 8
A. CAPITAL EMPLOYED CAPITAL EXPENDITURES - of 3 years depreciation period - of 5 years depreciation period - of 8 years depreciation period - of 10 years depreciation period - of 15 years depreciation period Total Yearly Capitalized R&D expenses (yearly) CHANGES IN WORKING CAPITAL 40 - Inventories (in days of cost of sales) 60 - customers net (in days of sales) - suppliers Working capital variation (yearly) Total Yearly TOTAL CUMULATIVE CASH IN (please sign -) - selling price of assets disposal - other cash-in B. OPERATING SAVINGS / COSTS (+ = saving, - = cost) - RECURRING - Consolidated Sales - Cost of sales 1.2 - administrative costs (KM) 1.15 - selling costs (TM) - NON RECURRING - internal project study costs (R&D) - external project study costs (R&D) - running costs (non R&D) - other induced costs (non R&D) Sub-Total - NON-CASH P&L Items - gain(+) / loss(-) on assets disposal - other Total non-cash C. CAPITAL EXPENDITURES DEPRECIATION Net Book Value (December, 31st N) Operating Income (B-C) Country WACC rate before tax - Cost of Capital Employed Economic Income D. IMPACT ON EARNINGS AFTER TAX (EAT) Tax Rate =
-356K -356K
198K -158K
267K 110K
444K 554K
496K 1,050K
559K 1,610K
0K 0K
0ห้องสมุดไป่ตู้ 0K
E. NET OPERATING CASH-FLOW (C + D) - yearly - cumulative F. NET FREE CASH-FLOW (E-A) Country WACC rate after tax: - yearly - discount rate - discounted yearly free cash flow - discounted, cumulative = NPV G. PAYBACK - Standard - Specific New Products H. IRR (Internal Rate of Return of Capital Employed)
2,000K
1,500K
1,000K
500K
0K
-500K
-1,000K
-1,500K
+1
+2
+3
+4 Years
+5
+6
+7
+8
500K 20K 0K -175K 0K 0K 0K -150K 195K 500K
1,000K -50K -20K -125K 0K 0K 0K 0K 805K
1,500K -270K -20K -125K 0K 0K 0K 0K 1,085K
1,500K -270K -20K -125K 0K 0K 0K 0K 1,085K
Subsidiary :
CGG Division : C.M. Description: Maquette New Products SUMMARY LIFETIME OF THE PROJECT: PAYBACK : CAPITAL EMPLOYED :
NEW PRODUCTS PROFITABILITY APPRAISAL
Number : Update on: Approved by: Made by :
V3-1 7-May-08
FL ML
6 years 2 year(s) 2,014K I.R.R. : 1 year(s)
11 month(s)
Profitability matching Group criteria
500K 250K
250K 350K 300K
750K 200K 0K 0K -110K -110K 840K 840K 0K
900K 150K -3K 100K -110K -14K 1,036K 1,876K -1,500K -1,500K
0K
0K
0K
0K
0K
0K
12K 100K -110K 1K 1K 1,878K 0K
688K 0.79 546K 571K 0.00 0.00
793K 0.74 583K 1,155K 0.00 0.00
756K 0.68 515K 1,670K 0.00 0.00 55%
0K 0.63 0K 1,670K 0.00 0.00
0K 0.58 0K 1,670K 0.00 0.00
Subsidiary :
Number : Update on: Made by :
V3-1 7-5-08 ML
Description: SUMMARY Years
2014 1,670K +7
2015 1,670K +8
Payback : Dé de ré lai cupé ration (Spé cifique):
R.O.I. Graph
37K 100K 0K 136K 136K 2,014K 0K
0K 0K 0K 0K 0K 2,014K 0K
0K 0K 0K 0K 0K 2,014K 0K
0K 0K 0K 0K 0K 0K 0K
0K 0K 0K 0K 0K 0K 0K
0K 0K 0K 0K -250K -150K 0K 0K -400K
1,500K -270K -20K -125K 0K 0K 0K 0K 1,085K
0K 0K 0K 0K 0K 0K 0K 0K 0K
0K 0K 0K 0K 0K 0K 0K 0K 0K
0K 165K 785K -565K
12%
500K 380K 670K 315K -66K 249K
0K 380K -380K 425K 60K 485K
-191K -191K
8.00%
79K -113K
648K 535K
824K 1,360K
793K 2,153K
756K 2,910K
0K 0K
0K 0K
-1,031K 1 -1,031K -1,031K 0.00 0.00
542K 0.93 502K -529K 0.00 0.00
647K 0.86 554K 25K 2.95 1.95