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    Euroland Foods

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    eko.rakhmat
    euroland food

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    © All Rights Reserved
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    Euroland Foods

    Uploaded by

    eko.rakhmat
    185 views4 pages
    euroland food

    Copyright

    © © All Rights Reserved

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    XLS, PDF, TXT or read online from Scribd

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    euroland food

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    185 views4 pages

    Euroland Foods

    Uploaded by

    eko.rakhmat
    euroland food

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 4

    Model Facts

    EUROLAND.XLS

    This spreadsheet supports student analysis of the case, "Euroland


    Foods S.A." (UVA-F-1356 v. 1.1).
    Please note:
    1) This is a working model. Assumptions / Inputs presented can be
    changed to vary the results.

    2) As long as default spreadsheet calculation is "automatic" the impact


    of changing assumptions will be computed in real time. If calculation is
    set as "manual" you should press the F9 function key to
    recalculate results. To set numerical calculation settings to automatic
    look under tools, options, calculations menu.

    Copyright (C) 2001 by the Trustees of the University of Virginia Darden School Foundation.

    Page 1

    Model Facts

    Foundation.

    Page 2

    Exhibit 3
    EUROLAND FOODS S.A.
    Free Cash Flows and Analysis of Proposed Projects
    (Values in millions)

    Project

    Investment
    Property
    Working Capital

    Expand
    Truck Fleet
    (note 3)

    New Plant
    (Dijon,
    France)

    Expanded
    Plant
    (Nuremberg,
    Germany)

    Snack
    Foods

    Automation
    and
    Conveyer
    Systems

    30.00
    3.00

    37.50
    7.50

    15.00
    0.00

    -17.10
    -11.85
    4.50
    5.25
    6.00
    6.75
    7.50
    10.50

    11.55

    -45.00
    3.00
    7.50
    8.25
    9.00
    9.38
    9.75
    10.13
    7.50
    7.88
    8.25
    35.63

    -15.00
    1.88
    2.25
    2.63
    3.00
    3.38
    3.75
    2.25
    2.25
    2.25
    2.25
    10.88

    6
    4

    6
    5

    6
    5

    7
    6

    6
    4

    IRR
    Minimum Accepted ROR
    Spread

    7.8%
    8.0%
    -0.2%

    11.3%
    10.0%
    1.3%

    11.2%
    10.0%
    1.2%

    13.4%
    12.0%
    1.4%

    8.7%
    8.0%
    0.7%

    NPV at Corp. WACC (10.6%)

    -2.88

    1.49

    0.41

    3.74

    -1.31

    NPV at Minimum ROR

    -0.19

    2.81

    0.82

    1.79

    0.48

    Equivalent Annuity (note 2)

    -0.04

    0.46

    0.13

    0.32

    0.09

    Year
    0
    1
    2
    3
    4
    5
    6
    7
    8
    9
    10
    Undiscounted Sum
    Payback (years)
    Maximum Payback Accepted

    22.50
    21.00
    4.50
    0.00
    EXPECTED FREE CASH FLOWS
    -9.00
    -21.00
    -9.00
    4.13
    -9.00
    4.13
    4.50
    4.13
    4.50
    4.13
    6.00
    4.13
    6.75
    4.13
    7.50
    4.13
    8.25
    9.00
    9.75
    29.25
    7.88

    ODS S.A.
    s of Proposed Projects
    llions)

    10

    Southward
    Expansion
    (note 5)

    Eastward
    Expansion
    (note 5)

    Artificial
    Sweetener

    InventoryControl
    System

    Strategic
    Acquisition
    (note 6)

    0.00
    0.00
    30.00
    30.00
    ED FREE CASH FLOWS (note 4)
    -30.00
    -30.00
    5.25
    4.50
    6.00
    5.25
    6.75
    6.00
    7.50
    6.75
    8.25
    7.50
    9.00
    8.25
    9.75
    9.00
    10.50
    9.75
    11.25
    10.50
    12.00
    11.25
    56.25
    48.75

    22.50
    4.50

    22.50
    0.00

    45.00
    15.00

    -27.00
    4.50
    6.00
    6.75
    7.50
    7.50
    7.50
    7.50
    7.50
    7.50
    7.50
    42.75

    -18.00
    8.25
    8.25
    7.50

    6.00

    -25.00
    -30.00
    7.50
    13.50
    16.50
    19.50
    22.50
    25.50
    28.50
    31.50
    88.50
    198.50

    5
    6

    5
    6

    5
    6

    3
    4

    5
    6

    21.4%
    12.0%
    9.4%

    18.8%
    12.0%
    6.8%

    20.5%
    12.0%
    8.5%

    16.2%
    8.0%
    8.2%

    27.5%
    12.0%
    15.5%

    17.99

    13.49

    13.43

    1.75

    69.45

    14.85

    10.62

    10.97

    2.67

    59.65

    2.63

    1.88

    1.94

    1.03

    10.56

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