Amounts in min dollars Balance sheet Goodwill Tangible fixed assets Inventories Accounts Receivable Other operating short...

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Amounts in min dollars Balance sheet Goodwill Tangible fixed assets Inventories Accounts Receivable Other operating short term assets Cash Total Equity Interest bearing debt Operating provisions Accounts Payable Other operating short term liabilities Total Profit & Loss Account Revenues -Cost of goods sold Gross margin - Personnel cost - Other operating cost EBITDA - Depreciation EBITA - Amortization EBIT - Interest PBT - Taxes Net profit 31-12-18 31-12-19 31-12-20 31-12-21 31-12-22 actuals forecast forecast forecast forecast 208 234 90 172 23 42 769 234 312 26 158 39 769 780 452 328 117 62 149 31 118 0 118 16 102 26 76 208 246 95 180 25 42 796 246 312 31 166 41 796 819 475 344 123 66 155 33 122 0 122 16 106 27 79 208 263 102 193 26 37 829 259 312 36 178 44 829 876 508 368 131 70 167 34 133 0 133 16 117 29 88 208 276 107 202 28 37 858 272 312 41 187 46 858 920 534 386 138 74 174 36 138 0 138 16 122 31 91 208 290 112 213 29 36 888 286 312 46 196 48 888 966 560 406 145 77 184 37 147 0 147 16 131 33 98 31-12-23 31-12-24 forecast forecast 208 301 117 221 30 41 918 301 312 51 204 50 918 1,005 583 422 151 0 9 139 12 18 16 18 34 10 80 191 0 152 136 208 310 120 228 31 50 947 317 312 56 210 52 947 1,035 600 435 155 83 197 41 156 0 156 16 140 35 105 What is the present value (at December 2018) of the free cash flow of 2022 for this company? Please assume a WACC of 8% and a tax rate of 25%. Amounts in min dollars Balance sheet Goodwill Tangible fixed assets Inventories Accounts Receivable Other operating short term assets Cash Total Equity Interest bearing debt Operating provisions Accounts Payable Other operating short term liabilities Total Profit & Loss Account Revenues -Cost of goods sold Gross margin - Personnel cost - Other operating cost EBITDA - Depreciation EBITA - Amortization EBIT - Interest PBT - Taxes Net profit 31-12-18 31-12-19 31-12-20 31-12-21 31-12-22 actuals forecast forecast forecast forecast 208 234 90 172 23 42 769 234 312 26 158 39 769 780 452 328 117 62 149 31 118 0 118 16 102 26 76 208 246 95 180 25 42 796 246 312 31 166 41 796 819 475 344 123 66 155 33 122 0 122 16 106 27 79 208 263 102 193 26 37 829 259 312 36 178 44 829 876 508 368 131 70 167 34 133 0 133 16 117 29 88 208 276 107 202 28 37 858 272 312 41 187 46 858 920 534 386 138 74 174 36 138 0 138 16 122 31 91 208 290 112 213 29 36 888 286 312 46 196 48 888 966 560 406 145 77 184 37 147 0 147 16 131 33 98 31-12-23 31-12-24 forecast forecast 208 301 117 221 30 41 918 301 312 51 204 50 918 1,005 583 422 151 0 9 139 12 18 16 18 34 10 80 191 0 152 136 208 310 120 228 31 50 947 317 312 56 210 52 947 1,035 600 435 155 83 197 41 156 0 156 16 140 35 105 What is the present value (at December 2018) of the free cash flow of 2022 for this company? Please assume a WACC of 8% and a tax rate of 25%.

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