Financial Modeling Assignment (Due In 12 Hours)
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ExhibitsforAriel11.xlsxExhibit 1
| Exhibit 1 Groupe Ariel S.A.—Selected Consolidated Financial Data (millions of Euros, except as noted) | |||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | |||
| Sales | 3345.3 | 3561.8 | 3, 576.9 | 3078.9 | 3050.3 | ||
| Operating Income | 61.2 | 189.2 | 172.9 | 163.5 | 149.9 | ||
| Net Income | (0.7) | 85.7 | 61.2 | 88.2 | 85.7 | ||
| Total Assets | 2809.3 | 2764.9 | 2899.6 | 3129.0 | 2445.5 | ||
| Total Debt | 660.6 | 616.0 | 613.0 | 578.4 | 504.2 | ||
| Equity | 782.6 | 819.5 | 829.7 | 941.0 | 865.1 | ||
| Capital Expenditures | 87.6 | 100.0 | 95.1 | 240.9 | 234.1 | ||
| Depreciation | 195.0 | 209.4 | 214.0 | 152.9 | 155.0 | ||
| R&D Expenditures | |||||||
| Earnings/Share (Euros) | 0.0 | 1.0 | 0.7 | 1.1 | 1.0 | ||
| Dividend/Share (Euros) | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | ||
| Return on Sales | 0.0% | 2.4% | 1.7% | 2.9% | 2.8% | ||
| Return on Equity (%) | -0.1% | 10.5% | 7.4% | 9.4% | 9.9% |
Exhibit 2
| Exhibit 2 Comparison of Projected Operating Data for Different Recycling Processes (thousands of pesos, except as noted) | ||||||||||||
| Assumes 7% inflation rate in Mexico | Tax Rate: 0.35 | |||||||||||
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||
| Projected Operating Costs, Manual Process | ||||||||||||
| Unit Volume (000s) | 496 | 546 | 600 | 660 | 660 | 660 | 660 | 660 | 660 | 660 | ||
| Materials | 564,816 | 664,788 | 782,456 | 920,951 | 985,417 | 1,054,396 | 1,128,204 | 1,207,178 | 1,291,681 | 1,382,099 | ||
| Direct Labor | 1,115,184 | 1,312,572 | 1,544,897 | 1,818,343 | 1,945,627 | 2,081,821 | 2,227,549 | 2,383,477 | 2,550,321 | 2,728,843 | ||
| Overhead | 1,680,000 | 1,797,600 | 1,923,432 | 2,058,072 | 2,202,137 | 2,356,287 | 2,521,227 | 2,697,713 | 2,886,553 | 3,088,611 | ||
| Total | 3,360,000 | 3,774,960 | 4,250,785 | 4,797,366 | 5,133,182 | 5,492,505 | 5,876,980 | 6,288,369 | 6,728,555 | 7,199,553 | ||
| Materials/unit | 1.1387 | 1.2185 | 1.3037 | 1.3950 | 1.4927 | 1.5971 | 1.7089 | 1.8286 | 1.9566 | 2.0935 | ||
| Direct labor/unit | 2.2484 | 2.4057 | 2.5741 | 2.7543 | 2.9471 | 3.1534 | 3.3742 | 3.6104 | 3.8631 | 4.1335 | ||
| Projected Operating Costs, New Automatic Equipment | ||||||||||||
| Unit Volume (000s) | 496 | 546 | 600 | 660 | 660 | 660 | 660 | 660 | 660 | 660 | ||
| Materials | 542,223 | 638,197 | 751,158 | 884,113 | 946,001 | 1,012,221 | 1,083,076 | 1,158,891 | 1,240,014 | 1,326,815 | ||
| Direct Labor | 524,136 | 616,909 | 726,101 | 854,621 | 914,445 | 978,456 | 1,046,948 | 1,120,234 | 1,198,651 | 1,282,556 | ||
| Overhead | 1,566,211 | 1,675,846 | 1,793,155 | 1,918,676 | 2,052,983 | 2,196,692 | 2,350,460 | 2,514,993 | 2,691,042 | 2,879,415 | ||
| Total | 2,632,571 | 2,930,951 | 3,270,414 | 3,657,410 | 3,913,429 | 4,187,369 | 4,480,484 | 4,794,118 | 5,129,707 | 5,488,786 | ||
| Materials/unit | 1.0932 | 1.1697 | 1.2516 | 1.3392 | 1.4330 | 1.5336 | 1.6406 | 1.7554 | 1.8783 | 2.0098 | ||
| Direct labor/unit | 1.0567 | 1.1307 | 1.2098 | 1.2945 | 1.3852 | 1.4821 | 1.5859 | 1.6969 | 1.8157 | 1.9427 |
Exhibit 3
| Exhibit 3 | Selected Macroeconomic and Financial Market Data For Mexico | |||
| Year | Consumer Price Inflation (%) | Real Growth GDP (%) | Year-End Spot Exchange Rate (MXN/EUR) | |
| 2000 | 9.5% | 6.6% | 9.4 | |
| 2001 | 6.4% | -0.3% | 9.5 | |
| 2002 | 5.0% | 0.9% | 10.4 | |
| 2003 | 4.3% | 1.4% | 12.9 | |
| 2004 | 4.7% | 4.2% | 15.3 | |
| 2005 | 3.3% | 3.2% | 13.3 | |
| 2006 | 4.1% | 5.1% | 14.4 | |
| 2007 | 3.8% | 3.3% | 16.2 | |
| Date | Short-Term Bank Lending Rate (a) | JP Morgan Mexico 7-10 Year Corporate Bonds (b) | 10-year Government Bonds © | |
| 31-Mar-06 | 7.78% | 8.20% | 8.47% | |
| 30-Jun-06 | 7.68% | 9.35% | 9.06% | |
| 29-Sep-06 | 7.50% | 8.22% | 8.24% | |
| 29-Dec-06 | 7.60% | 7.42% | 7.42% | |
| 28-Mar-07 | 7.68% | 7.50% | 7.58% | |
| 27-Jun-07 | 7.82% | 7.68% | 7.19% | |
| 26-Sep-07 | 7.77% | 7.86% | 7.82% | |
| 31-Dec-07 | 8.00% | 8.17% | 8.08% | |
| 26-Mar-08 | 7.94% | 7.42% | 7.49% | |
| 23-Jun-08 | 8.10% | 9.21% | 9.12% | |
| Sources: | ||||
| a - Bank of Mexico | ||||
| b - Thomson Datastream | ||||
| c - Global Financial Data |
Exhibit 4
| Exhibit 4 | Selected Macroeconomic and Financial Market Data For France | ||
| Year | Consumer Price Inflation (%) | Real Growth GDP (%) | Year-End Exchange Rate (MXN/EUR) |
| 2000 | 1.7% | 4.2% | 9.4 |
| 2001 | 1.6% | 2.1% | 9.5 |
| 2002 | 1.9% | 1.1% | 10.4 |
| 2003 | 2.1% | 0.5% | 12.9 |
| 2004 | 2.3% | 2.3% | 15.3 |
| 2005 | 1.7% | 1.9% | 13.3 |
| 2006 | 1.7% | 2.4% | 14.4 |
| 2007 | 1.5% | 2.3% | 16.2 |
| Date | Short-Term Bank Lending Rate | JP Morgan France 7-10 Year Corporate Bonds | 10-year Government Bonds |
| 31-Mar-06 | 3.08% | 3.73% | 3.79% |
| 30-Jun-06 | 3.27% | 4.03% | 4.08% |
| 30-Sep-06 | 3.63% | 3.69% | 3.72% |
| 31-Dec-06 | 4.07% | 3.96% | 3.98% |
| 31-Mar-07 | 4.42% | 4.08% | 4.11% |
| 30-Jun-07 | 4.69% | 4.60% | 4.62% |
| 30-Sep-07 | 4.91% | 4.36% | 4.41% |
| 31-Dec-07 | 5.13% | 4.34% | 4.42% |
| 31-Mar-08 | 4.81% | 4.00% | 4.11% |
| 23-Jun-08 | 4.99% | 4.75% | 4.81% |
