A B C D E

1 NRG 2011 2012 2013 TOTAL

2 % Change in Selling Volumes 2.0% 2.0% 2.0%
3 % Change in Selling prices 0.0% 0.0% 0.0%
4 % Change in Buying prices -3.3% 0.0% 0.0%
5 CGS/Sales (output) 80.0% 80.0% 80.0%
6 Operating Expenses/Sales 14.0% 14.0% 14.0%
7 Collection period (months) 6.0 6.0 6.0
8 Inventory turnover (times) 4.0 4.0 4.0
9 Payment period (months) 4.0 4.0 4.0
10 New Investments 500 500 500
11 Depreciation 500 500 500
12 % Interest rate (Cost of money) 17.0% 17.0% 17.0%
13 + Sales Revenue 118,072 120,434 122,842 361,348
14 - Cost of Goods Sold 94,444 96,333 98,260
15 - Operating Expenses 16,530 16,861 17,198
16 - Depreciation 500 500 500
17 = (EBIT) 6,598 6,740 6,885 20,223
18 - Interest costs 7,723 8,573 9,131
19 = Net Profit -1,125 -1,833 -2,247 -5,204
20 + Depreciation 500 500 500
21 + Receivables Open 58,893 59,036 60,217
22 - Receivables End 59,036 60,217 61,421
23 + Inventory open 16,709 23,611 24,083
24 - Inventory end 23,611 24,083 24,565
25 - Accounts payables Open 39,944 33,782 32,268
26 + Accounts Payab. End 33,782 32,268 32,914
27 =CFO-Interest -13,832 -4,499 -2,787 -21,118
28 Bank Debt (Including New Investments) 45,428 50,427 53,714
29 Shareholders (Net Worth) 8,928 7,096 4,849
30 ROCE (ROI) 12.1% 11.7% 11.8%
31 Debt/Equity Ratio (D/E) 5.1 7.1 11.1
32 EVA (Value created) -2,643 -3,039 -3,071 -8,752