Concepto 2014 2015 Var $ Var %

Utilidad Operacional 1,341,672,959 1,477,292,058 135,619,099 10.1%

+ Depreciaciones 45,462,106 32,173,068 -13,289,038 -29.2%
+ Amortizaciones 0
= EBITDA 1,387,135,065 1,509,465,126 122,330,061 8.8%

Concepto 2014 2015 Var $ Var %

Utilidad Operacional 1,341,672,959 1,477,292,058 135,619,099 10.1%
- Impuestos Operacionale 461,537,379 498,477,204 36,939,825 8.0%
- Costo del Capital 960,899,165 879,109,791 -81,789,374 -8.5%
= EVA -80,763,585 99,705,063 180,468,648 -223.5%

Concepto 2014 2015 Var $ Var %

Capital Invertido 6,405,994,432 5,860,731,939 -545,262,493 -8.5%
+ Activo Corriente 8,454,190,010 7,686,751,490 -767,438,520 -9.1%
- Pasivo Corriente 2,765,163,412 2,557,653,269 -207,510,143 -7.5%
+ Propiedad, Planta y Equ 716,967,834 731,633,718 14,665,884 2.0%
Costo del Capital 15.0% 15.0% 0.0%

Concepto 2014 2015 Var $ Var %

Ingresos 15,154,538,358 16,324,951,448 1,170,413,090 7.7%
Costo de Ventas 10,945,475,672 11,050,644,071 105,168,399 1.0%
Utilidad Bruta 4,209,062,686 5,274,307,377 1,065,244,691 25.3%
Gastos Operacionales 2,867,389,727 3,797,015,319 929,625,592 32.4%
Utilidad Operacional 1,341,672,959 1,477,292,058 135,619,099 10.1%
% Ingreso/14 % Ingresos/15
100.0% 100.0% 0.0%
72.2% 67.7% -4.5%
27.8% 32.3% 4.5%
18.9% 23.3% 4.3%
8.9% 9.0% 0.2%