Balance GralBalance GeneralCuentas/Ao20102011201220132014Efectivo y Equivalentes1,031,161.001,156,942.003,327,344.003,604,338.004,666,135.00Cuentas y documentos por Cobrar7,274,786.6210,383,579.8514,351,059.4714,510,918.3813,803,426.09 -Estimacin por Cuentas Incobrables(141,581.62)(1,556,432.85)(972,612.47)(411,891.38)(439,961.09)Inventarios4,064,055.006,107,323.004,121,781.003,804,152.605,568,034.00Activo Corriente12,228,421.0016,091,412.0020,827,572.0021,507,517.6023,597,634.00Inversiones Financieras2,747,520.003,153,991.003,478,711.002,747,520.002,868,715.83Terrenos7,334,342.006,914,196.006,914,196.006,624,196.006,914,196.00Edificios3,426,070.003,426,070.003,426,070.003,435,415.003,788,397.00Inversiones en bienes muebles21,142,258.0022,169,835.0023,194,952.0024,109,340.0024,703,557.00 - Depreciacin acumulada de propiedades y bienes muebles(17,812,088.00)(19,397,945.00)(20,547,771.00)(21,453,554.00)(22,553,244.00)Otros Activos no Corrientes0.01,664,427.001,602,654.00581,156.00581,159.34Activo no Corriente16,838,102.0017,930,574.0018,068,812.0016,044,073.0016,302,781.17Activos Totales29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.17

Cuentas y Documentos por Pagar11,034,902.0010,810,534.0013,487,068.6311,177,231.0011,559,411.00Prstamos Bancarios a CP1,118,355.001,793,528.611,856,780.002,371,394.001,801,194.00Provisiones1,385,077.001,178,897.002,022,564.001,580,616.002,059,523.00Otros Pasivos Corrientes618,634.06675,169.00718,063.00920,413.00750,355.00Pasivo Corriente14,156,968.0614,458,128.6118,084,475.6316,049,654.0016,170,483.00Prstamos Bancarios a LP566,657.003,862,992.002,862,568.004,978,403.006,441,786.00Pasivo no Corriente566,657.003,862,992.002,862,568.004,978,403.006,441,786.00Pasivos Totales14,723,625.0618,321,120.6120,947,043.6321,028,057.0022,612,269.00Capital Social9,091,040.009,091,040.0010,891,040.009,091,040.009,091,040.00Reservas Legal625,230.79757,072.29800,613.55836,942.99911,177.22Supervits2,368,095.402,368,095.402,368,095.402,368,095.402,368,095.40Utilidades Retenidas2,031,684.942,258,531.753,484,657.703,889,591.424,227,455.21Utilidad del Ejercicio226,846.811,226,125.95404,933.72337,863.79690,378.34Patrimonio14,342,897.9415,700,865.3917,949,340.3716,523,533.6017,288,146.17Pasivo y Patrimonio29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.17(0.00)(0.00)(0.00)(0.00)(0.00)

Numero de Acciones Propuestas80,000.0080,000.0095,000.0095,000.0095,000.00

Est de ResultadosEstado de ResultadosCuentas/Ao20102011201220132014Ventas Netas69,774,130.0074,693,745.0061,993,168.0069,627,921.0071,563,913.00 - Costo de Ventas49,952,572.0053,268,992.0039,646,124.0044,268,172.0046,429,044.00Utilidad Bruta19,821,558.0021,424,753.0022,347,044.0025,359,749.0025,134,869.00 - Gastos de Administracin monetarios4,585,944.854,764,297.844,899,987.796,313,529.796,233,340.58 - Gastos de Venta monetarios13,252,642.5312,528,745.3113,830,803.7416,731,992.8315,684,387.33 - Depreciacin1,333,098.001,585,857.001,149,826.00905,783.001,099,690.00 - Amortizacin0.00.00.00.00.0 - Obsolescencia de Inventarios0.00.00.00.00.0 - Cuentas incobrables141,581.621,556,432.85972,612.47411,891.38439,961.09Gastos de Operacin19,313,267.0020,435,333.0020,853,230.0024,363,197.0023,457,379.00Utilidad de Operacin508,291.00989,420.001,493,814.00996,552.001,677,490.00 +Otros Ingresos185,601.001,427,458.00765,311.00300,799.00129,145.00 -Otros Gastos140,692.00245,502.001,035,533.00214,230.00154,921.00Utilidad antes de Intereses e Impuestos553,200.002,171,376.001,223,592.001,083,121.001,651,714.00 -Gastos Financieros 204,741.00287,926.00601,574.00564,129.00591,225.00Utilidad antes del Periodo348,459.001,883,450.00622,018.00518,992.001,060,489.00 -Reserva Legal24,392.13131,841.5043,541.2636,329.4474,234.23Utilidad Antes de Impuesto324,066.871,751,608.50578,476.74482,662.56986,254.77Impuestos97,220.06525,482.55173,543.02144,798.77295,876.43Utilidad Neta 226,846.811,226,125.95404,933.72337,863.79690,378.34

RAZONES FINANCIERAS Razones FinancierasIndiceFrmula20102011201220132014Razones de Liquidez1Capital de trabajoAc$12,228,421.00$16,091,412.00$20,827,572.00$21,507,517.60$23,597,634.002Capital de trabajo NetoAC-PC$(1,928,547.06)$1,633,283.39$2,743,096.37$5,457,863.60$7,427,151.003Razn Solvencia CirculanteAC/PC$0.86$1.11$1.15$1.34$1.464Razn de Prueba cidaAC-Inv/PC57.67%69.06%92.38%110.30%111.50%5Indice de Liquidez InmediataEfect y Equivs/PC7.28%8.00%18.40%22.46%28.86%6Intervalo Basico Defensivo[(Ef+Tt. C.P + CxC) / [(CV+GO)/360]] 44.1158.88109.0296.8897.28Razones de Actividad7Periodo Promedio de Inventario((360*InvProm)/CV)29.2941.2737.4330.9443.17Dias Promedio del Inventario360/Rot. Inv29.2941.2737.4330.9443.178Rotacin de Inventario( 360/EPI)12.29138.72229.618711.63688.33859Rotacin de Cuentas por CobrarVtas. Netas/CxC9.597.194.324.805.1810Dias Promedio de las Cuentas por Cobrar365/RCxC37.5350.0583.3475.0369.4411Rotacin de Cuentas por PagarCompras Netas/CxP4.534.932.943.964.0212Dias Promedio de las Cuentas por Pagar360/RCxp79.5373.06122.4790.9089.6313Ciclo OperativoPeriodo prom. De Inv.+ P. prom de Cobro66.8291.32120.77105.96112.6114Periodo de Conversin del EfectivoCiclo Operativo - Periodo. Pom de pago(12.70)18.26(1.70)15.0722.9815Rotacin Ciclo de Caja(360/CC) (28.34)19.71(211.51)23.8915.6616Rotacion de Activos TotalesVentas/Activo Total2.402.201.591.851.79Razones de Apalancamiento17Razon de AutonomiaPatrimonio/Activo49.35%46.15%46.15%44.00%43.33%18Indice de EndeudamientoPasivo Total/Activo Total50.65%53.85%53.85%56.00%56.67%19Razn Deuda Patrimonial Apalanc. InternoPatrimonio/Pasivo$0.97$0.86$0.86$0.79$0.7620Razn Deuda Patrimonial Apalanc. ExternoPasivo total/Patrimonio$1.03$1.17$1.17$1.27$1.3121Razon de Capitalizacion a Largo PlazoPasivo no Corriente/Pnc+Capital3.80%19.75%13.75%23.15%27.15%22Cobertura de InteresesUAII/Cargos por Intereses2.707.542.031.922.7923Cobertura EBITDAEBITDA/Cargos por Intereses9.9018.455.564.265.40Razn de Rentabilidad24Retorno sobre Ventas ROSUN/Ventas0.33%1.64%0.65%0.49%0.96%25Retorno de los Activos ROAUN/AT0.78%3.60%1.04%0.90%1.73%26Retorno en el Patrimonio ROEUtilidad Neta/Patrimonio1.58%7.81%2.26%2.04%3.99%27Margen Bruto o Uilidad Bruta Utilidad Bruta/ventas28.41%28.68%36.05%36.42%35.12%28Margen de Utilidad de Operacin Utilidad de Operacin/ventas0.73%1.32%2.41%1.43%2.34%Razones de Mercado29Utilidades por Accion EPS/UPAUN/N de Acciones$2.84$15.33$4.26$3.56$7.2730Valor Contable por AccinP/N de Acciones$179.29$196.26$188.94$173.93$181.9831Razon Precio-GananciaPrecio/Ganancia$63.23$12.81$44.33$48.91$25.04

Est de Resultados Met VarEstado de ResultadosValores AbsolutosValores RelativosCuentas/Ao201020112012201320142011-20102012-20112013-20122014-20132011-20102012-20112013-20122014-2013Ventas Netas69,774,130.0074,693,745.0061,993,168.0069,627,921.0071,563,913.004,919,615.00(12,700,577.00)7,634,753.001,935,992.007.05%-17.00%12.32%2.78% - Costo de Ventas49,952,572.0053,268,992.0039,646,124.0044,268,172.0046,429,044.003,316,420.00(13,622,868.00)4,622,048.002,160,872.006.64%-25.57%11.66%4.88%Utilidad Bruta19,821,558.0021,424,753.0022,347,044.0025,359,749.0025,134,869.001,603,195.00922,291.003,012,705.00(224,880.00)8.09%4.30%13.48%-0.89% - Gastos de Administracin monetarios4,585,944.854,764,297.844,899,987.796,313,529.796,233,340.58178,352.99135,689.951,413,542.00(80,189.21)3.89%2.85%28.85%-1.27% - Gastos de Venta monetarios13,252,642.5312,528,745.3113,830,803.7416,731,992.8315,684,387.33(723,897.22)1,302,058.432,901,189.09(1,047,605.50)-5.46%10.39%20.98%-6.26% - Depreciacin1,333,098.001,585,857.001,149,826.00905,783.001,099,690.00252,759.00(436,031.00)(244,043.00)193,907.0018.96%-27.49%-21.22%21.41% - Amortizacin0.00.00.00.00.00.00.00.00.00.00%0.00%0.00%0.00% - Obsolescencia de Inventarios0.00.00.00.00.00.00.00.00.00.00%0.00%0.00%0.00% - Cuentas incobrables141,581.621,556,432.85972,612.47411,891.38439,961.091,414,851.23(583,820.38)(560,721.09)28,069.71999.32%-37.51%-57.65%6.81%Gastos de Operacin19,313,267.0020,435,333.0020,853,230.0024,363,197.0023,457,379.001,122,066.00417,897.003,509,967.00(905,818.00)5.81%2.04%16.83%-3.72%Utilidad de Operacin508,291.00989,420.001,493,814.00996,552.001,677,490.00481,129.00504,394.00(497,262.00)680,938.000.00%50.98%-33.29%68.33% +Otros Ingresos185,601.001,427,458.00765,311.00300,799.00129,145.001,241,857.00(662,147.00)(464,512.00)(171,654.00)669.10%-46.39%-60.70%-57.07% -Otros Gastos140,692.00245,502.001,035,533.00214,230.00154,921.00104,810.00790,031.00(821,303.00)(59,309.00)74.50%321.80%-79.31%-27.68%Utilidad antes de Intereses e Impuestos553,200.002,171,376.001,223,592.001,083,121.001,651,714.001,618,176.00(947,784.00)(140,471.00)568,593.00292.51%-43.65%-11.48%52.50% -Gastos Financieros 204,741.00287,926.00601,574.00564,129.00591,225.0083,185.00313,648.00(37,445.00)27,096.0040.63%108.93%-6.22%4.80%Utilidad antes del Periodo348,459.001,883,450.00622,018.00518,992.001,060,489.001,534,991.00(1,261,432.00)(103,026.00)541,497.00440.51%-66.97%-16.56%104.34% -Reserva Legal24,392.13131,841.5043,541.2636,329.4474,234.23107,449.37(88,300.24)(7,211.82)37,904.79440.51%-66.97%-16.56%104.34%Utilidad Antes de Impuesto324,066.871,751,608.50578,476.74482,662.56986,254.771,427,541.63(1,173,131.76)(95,814.18)503,592.21440.51%-66.97%-16.56%104.34%Impuestos97,220.06525,482.55173,543.02144,798.77295,876.43428,262.49(351,939.53)(28,744.25)151,077.66440.51%-66.97%-16.56%104.34%Utilidad Neta 226,846.811,226,125.95404,933.72337,863.79690,378.34999,279.14(821,192.23)(67,069.93)352,514.55440.51%-66.97%-16.56%104.34%

Balance Gral VarBalance GeneralValores AbsolutosValores RelativosCuentas/Ao201020112012201320142011-20102012-20112013-20122014-20132011-20102012-20112013-20122014-2013Efectivo y Equivalentes1,031,161.001,156,942.003,327,344.003,604,338.004,666,135.00125,781.002,170,402.00276,994.001,061,797.0012.20%187.60%8.32%29.46%Cuentas y documentos por Cobrar7,274,786.6210,383,579.8514,351,059.4714,510,918.3813,803,426.093,108,793.233,967,479.62159,858.91(707,492.29)42.73%38.21%1.11%-4.88% -Estimacin por Cuentas Incobrables(141,581.62)(1,556,432.85)(972,612.47)(411,891.38)(439,961.09)(1,414,851.23)583,820.38560,721.09(28,069.71)999.32%-37.51%-57.65%6.81%Inventarios4,064,055.006,107,323.004,121,781.003,804,152.605,568,034.002,043,268.00(1,985,542.00)(317,628.40)1,763,881.4050.28%-32.51%-7.71%46.37%Activo Corriente12,228,421.0016,091,412.0020,827,572.0021,507,517.6023,597,634.003,862,991.004,736,160.00679,945.602,090,116.4031.59%29.43%3.26%9.72%Inversiones Financieras2,747,520.003,153,991.003,478,711.002,747,520.002,868,715.83406,471.00324,720.00(731,191.00)121,195.8314.79%10.30%-21.02%4.41%Terrenos7,334,342.006,914,196.006,914,196.006,624,196.006,914,196.00(420,146.00)0.0(290,000.00)290,000.00-5.73%0.00%-4.19%4.38%Edificios3,426,070.003,426,070.003,426,070.003,435,415.003,788,397.000.00.09,345.00352,982.000.00%0.00%0.27%10.27%Inversiones en bienes muebles21,142,258.0022,169,835.0023,194,952.0024,109,340.0024,703,557.001,027,577.001,025,117.00914,388.00594,217.004.86%4.62%3.94%2.46% - Depreciacin acumulada de propiedades y bienes muebles(17,812,088.00)(19,397,945.00)(20,547,771.00)(21,453,554.00)(22,553,244.00)(1,585,857.00)(1,149,826.00)(905,783.00)(1,099,690.00)8.90%5.93%4.41%5.13%Otros Activos no Corrientes0.01,664,427.001,602,654.00581,156.00581,159.341,664,427.00(61,773.00)(1,021,498.00)3.340.00%-3.71%-63.74%0.00%Activo no Corriente16,838,102.0017,930,574.0018,068,812.0016,044,073.0016,302,781.171,092,472.00138,238.00(2,024,739.00)258,708.176.49%0.77%-11.21%1.61%Activos Totales29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.174,955,463.004,874,398.00(1,344,793.40)2,348,824.5717.05%14.33%-3.46%6.25%0.00.00.00.00.00%0.00%0.00%0.00%Cuentas y Documentos por Pagar11,034,902.0010,810,534.0013,487,068.6311,177,231.0011,559,411.00(224,368.00)2,676,534.63(2,309,837.63)382,180.00-2.03%24.76%-17.13%3.42%Prstamos Bancarios a CP1,118,355.001,793,528.611,856,780.002,371,394.001,801,194.00675,173.6163,251.39514,614.00(570,200.00)60.37%3.53%27.72%-24.04%Provisiones1,385,077.001,178,897.002,022,564.001,580,616.002,059,523.00(206,180.00)843,667.00(441,948.00)478,907.00-14.89%71.56%-21.85%30.30%Otros Pasivos Corrientes618,634.06675,169.00718,063.00920,413.00750,355.0056,534.9442,894.00202,350.00(170,058.00)9.14%6.35%28.18%-18.48%Pasivo Corriente14,156,968.0614,458,128.6118,084,475.6316,049,654.0016,170,483.00301,160.553,626,347.02(2,034,821.63)120,829.002.13%25.08%-11.25%0.75%Prstamos Bancarios a LP566,657.003,862,992.002,862,568.004,978,403.006,441,786.003,296,335.00(1,000,424.00)2,115,835.001,463,383.00581.72%-25.90%73.91%29.39%Pasivo no Corriente566,657.003,862,992.002,862,568.004,978,403.006,441,786.003,296,335.00(1,000,424.00)2,115,835.001,463,383.00581.72%-25.90%73.91%29.39%Pasivos Totales14,723,625.0618,321,120.6120,947,043.6321,028,057.0022,612,269.003,597,495.552,625,923.0281,013.371,584,212.0024.43%14.33%0.39%7.53%Capital Social9,091,040.009,091,040.0010,891,040.009,091,040.009,091,040.000.01,800,000.00(1,800,000.00)0.00.00%19.80%-16.53%0.00%Reservas Legal625,230.79757,072.29800,613.55836,942.99911,177.22131,841.5043,541.2636,329.4474,234.2321.09%5.75%4.54%8.87%Supervits2,368,095.402,368,095.402,368,095.402,368,095.402,368,095.400.00.00.00.00.00%0.00%0.00%0.00%Utilidades Retenidas2,031,684.942,258,531.753,484,657.703,889,591.424,227,455.21226,846.811,226,125.95404,933.72337,863.7911.17%54.29%11.62%8.69%Utilidad del Ejercicio226,846.811,226,125.95404,933.72337,863.79690,378.34999,279.14(821,192.23)(67,069.93)352,514.55440.51%-66.97%-16.56%104.34%Patrimonio14,342,897.9415,700,865.3917,949,340.3716,523,533.6017,288,146.171,357,967.452,248,474.98(1,425,806.77)764,612.579.47%14.32%-7.94%4.63%Pasivo y Patrimonio29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.174,955,463.004,874,398.00(1,344,793.40)2,348,824.5717.05%14.33%-3.46%6.25%(0.00)(0.00)(0.00)(0.00)(0.00)

Est de Resultados Met Ao BaseEstado de ResultadosAo BaseCuentas/Ao2010201120122013201420102011201220132014Ventas Netas69,774,130.0074,693,745.0061,993,168.0069,627,921.0071,563,913.00100.00%107.05%88.85%99.79%102.57% - Costo de Ventas49,952,572.0053,268,992.0039,646,124.0044,268,172.0046,429,044.00100.00%106.64%79.37%88.62%92.95%Utilidad Bruta19,821,558.0021,424,753.0022,347,044.0025,359,749.0025,134,869.00100.00%108.09%112.74%127.94%126.81% - Gastos de Administracin monetarios4,585,944.854,764,297.844,899,987.796,313,529.796,233,340.58100.00%103.89%106.85%137.67%135.92% - Gastos de Venta monetarios13,252,642.5312,528,745.3113,830,803.7416,731,992.8315,684,387.33100.00%94.54%104.36%126.25%118.35% - Depreciacin1,333,098.001,585,857.001,149,826.00905,783.001,099,690.00100.00%118.96%86.25%67.95%82.49% - Amortizacin0.00.00.00.00.00.00%0.00%0.00%0.00%0.00% - Obsolescencia de Inventarios0.00.00.00.00.00.00%0.00%0.00%0.00%0.00% - Cuentas incobrables141,581.621,556,432.85972,612.47411,891.38439,961.09100.00%1099.32%686.96%290.92%310.75%Gastos de Operacin19,313,267.0020,435,333.0020,853,230.0024,363,197.0023,457,379.00100.00%105.81%107.97%126.15%121.46%Utilidad de Operacin508,291.00989,420.001,493,814.00996,552.001,677,490.00100.00%194.66%293.89%196.06%330.03% +Otros Ingresos185,601.001,427,458.00765,311.00300,799.00129,145.00100.00%769.10%412.34%162.07%69.58% -Otros Gastos140,692.00245,502.001,035,533.00214,230.00154,921.00100.00%174.50%736.03%152.27%110.11%Utilidad antes de Intereses e Impuestos553,200.002,171,376.001,223,592.001,083,121.001,651,714.00100.00%392.51%221.18%195.79%298.57% -Gastos Financieros 204,741.00287,926.00601,574.00564,129.00591,225.00100.00%140.63%293.82%275.53%288.77%Utilidad antes del Periodo348,459.001,883,450.00622,018.00518,992.001,060,489.00100.00%540.51%178.51%148.94%304.34% -Reserva Legal24,392.13131,841.5043,541.2636,329.4474,234.23100.00%540.51%178.51%148.94%304.34%Utilidad Antes de Impuesto324,066.871,751,608.50578,476.74482,662.56986,254.77100.00%540.51%178.51%148.94%304.34%Impuestos97,220.06525,482.55173,543.02144,798.77295,876.43100.00%540.51%178.51%148.94%304.34%Utilidad Neta 226,846.811,226,125.95404,933.72337,863.79690,378.34100.00%540.51%178.51%148.94%304.34%

Balance Gral Ao BaseBalance GeneralAo BaseCuentas/Ao2010201120122013201420102011201220132014Efectivo y Equivalentes1,031,161.001,156,942.003,327,344.003,604,338.004,666,135.00100%112%323%350%453%Cuentas y documentos por Cobrar7,274,786.6210,383,579.8514,351,059.4714,510,918.3813,803,426.09100%143%197%199%190% -Estimacin por Cuentas Incobrables(141,581.62)(1,556,432.85)(972,612.47)(411,891.38)(439,961.09)100%1099%687%291%311%Inventarios4,064,055.006,107,323.004,121,781.003,804,152.605,568,034.00100%150%101%94%137%Activo Corriente12,228,421.0016,091,412.0020,827,572.0021,507,517.6023,597,634.00100%132%170%176%193%Inversiones Financieras2,747,520.003,153,991.003,478,711.002,747,520.002,868,715.83100%115%127%100%104%Terrenos7,334,342.006,914,196.006,914,196.006,624,196.006,914,196.00100%94%94%90%94%Edificios3,426,070.003,426,070.003,426,070.003,435,415.003,788,397.00100%100%100%100%111%Inversiones en bienes muebles21,142,258.0022,169,835.0023,194,952.0024,109,340.0024,703,557.00100%105%110%114%117% - Depreciacin acumulada de propiedades y bienes muebles(17,812,088.00)(19,397,945.00)(20,547,771.00)(21,453,554.00)(22,553,244.00)100%109%115%120%127%Otros Activos no Corrientes0.01,664,427.001,602,654.00581,156.00581,159.340%0%0%0%0%Activo no Corriente16,838,102.0017,930,574.0018,068,812.0016,044,073.0016,302,781.17100%106%107%95%97%Activos Totales29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.17100%117%134%129%137%

Cuentas y Documentos por Pagar11,034,902.0010,810,534.0013,487,068.6311,177,231.0011,559,411.00100%98%122%101%105%Prstamos Bancarios a CP1,118,355.001,793,528.611,856,780.002,371,394.001,801,194.00100%160%166%212%161%Provisiones1,385,077.001,178,897.002,022,564.001,580,616.002,059,523.00100%85%146%114%149%Otros Pasivos Corrientes618,634.06675,169.00718,063.00920,413.00750,355.00100%109%116%149%121%Pasivo Corriente14,156,968.0614,458,128.6118,084,475.6316,049,654.0016,170,483.00100%102%128%113%114%Prstamos Bancarios a LP566,657.003,862,992.002,862,568.004,978,403.006,441,786.00100%682%505%879%1137%Pasivo no Corriente566,657.003,862,992.002,862,568.004,978,403.006,441,786.00100%682%505%879%1137%Pasivos Totales14,723,625.0618,321,120.6120,947,043.6321,028,057.0022,612,269.00100%124%142%143%154%Capital Social9,091,040.009,091,040.0010,891,040.009,091,040.009,091,040.00100%100%120%100%100%Reservas Legal625,230.79757,072.29800,613.55836,942.99911,177.22100%121%128%134%146%Supervits2,368,095.402,368,095.402,368,095.402,368,095.402,368,095.40100%100%100%100%100%Utilidades Retenidas2,031,684.942,258,531.753,484,657.703,889,591.424,227,455.21100%111%172%191%208%Utilidad del Ejercicio226,846.811,226,125.95404,933.72337,863.79690,378.34100%541%179%149%304%Patrimonio14,342,897.9415,700,865.3917,949,340.3716,523,533.6017,288,146.17100%109%125%115%121%Pasivo y Patrimonio29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.17100%117%134%129%137%(0.00)(0.00)(0.00)(0.00)(0.00)

Est de Resultados Met BaseComunEstado de ResultadosBase ComunCuentas/Ao2010201120122013201420102011201220132014Ventas Netas69,774,130.0074,693,745.0061,993,168.0069,627,921.0071,563,913.00100.00%100.00%100.00%100.00%100.00% - Costo de Ventas49,952,572.0053,268,992.0039,646,124.0044,268,172.0046,429,044.0071.59%71.32%63.95%63.58%64.88%Utilidad Bruta19,821,558.0021,424,753.0022,347,044.0025,359,749.0025,134,869.0028.41%28.68%36.05%36.42%35.12% - Gastos de Administracin monetarios4,585,944.854,764,297.844,899,987.796,313,529.796,233,340.586.57%6.38%7.90%9.07%8.71% - Gastos de Venta monetarios13,252,642.5312,528,745.3113,830,803.7416,731,992.8315,684,387.3318.99%16.77%22.31%24.03%21.92% - Depreciacin1,333,098.001,585,857.001,149,826.00905,783.001,099,690.001.91%2.12%1.85%1.30%1.54% - Amortizacin0.00.00.00.00.00.00%0.00%0.00%0.00%0.00% - Obsolescencia de Inventarios0.00.00.00.00.00.00%0.00%0.00%0.00%0.00% - Cuentas incobrables141,581.621,556,432.85972,612.47411,891.38439,961.090.20%2.08%1.57%0.59%0.61%Gastos de Operacin19,313,267.0020,435,333.0020,853,230.0024,363,197.0023,457,379.0027.68%27.36%33.64%34.99%32.78%Utilidad de Operacin508,291.00989,420.001,493,814.00996,552.001,677,490.000.73%1.32%2.41%1.43%2.34% +Otros Ingresos185,601.001,427,458.00765,311.00300,799.00129,145.000.27%1.91%1.23%0.43%0.18% -Otros Gastos140,692.00245,502.001,035,533.00214,230.00154,921.000.20%0.33%1.67%0.31%0.22%Utilidad antes de Intereses e Impuestos553,200.002,171,376.001,223,592.001,083,121.001,651,714.000.79%2.91%1.97%1.56%2.31% -Gastos Financieros 204,741.00287,926.00601,574.00564,129.00591,225.000.29%0.39%0.97%0.81%0.83%Utilidad antes del Periodo348,459.001,883,450.00622,018.00518,992.001,060,489.000.50%2.52%1.00%0.75%1.48% -Reserva Legal24,392.13131,841.5043,541.2636,329.4474,234.230.03%0.18%0.07%0.05%0.10%Utilidad Antes de Impuesto324,066.871,751,608.50578,476.74482,662.56986,254.770.46%2.35%0.93%0.69%1.38%Impuestos97,220.06525,482.55173,543.02144,798.77295,876.430.14%0.70%0.28%0.21%0.41%Utilidad Neta 226,846.811,226,125.95404,933.72337,863.79690,378.340.33%1.64%0.65%0.49%0.96%

Balance Gral BaseComunBalance GeneralBase ComunCuentas/Ao2010201120122013201420102011201220132014Efectivo y Equivalentes1,031,161.001,156,942.003,327,344.003,604,338.004,666,135.004%3%9%10%12%Cuentas y documentos por Cobrar7,274,786.6210,383,579.8514,351,059.4714,510,918.3813,803,426.0925%31%37%39%35% -Estimacin por Cuentas Incobrables(141,581.62)(1,556,432.85)(972,612.47)(411,891.38)(439,961.09)-0%-5%-3%-1%-1%Inventarios4,064,055.006,107,323.004,121,781.003,804,152.605,568,034.0014%18%11%10%14%Activo Corriente12,228,421.0016,091,412.0020,827,572.0021,507,517.6023,597,634.0042%47%54%57%59%Inversiones Financieras2,747,520.003,153,991.003,478,711.002,747,520.002,868,715.839%9%9%7%7%Terrenos7,334,342.006,914,196.006,914,196.006,624,196.006,914,196.0025%20%18%18%17%Edificios3,426,070.003,426,070.003,426,070.003,435,415.003,788,397.0012%10%9%9%9%Inversiones en bienes muebles21,142,258.0022,169,835.0023,194,952.0024,109,340.0024,703,557.0073%65%60%64%62% - Depreciacin acumulada de propiedades y bienes muebles(17,812,088.00)(19,397,945.00)(20,547,771.00)(21,453,554.00)(22,553,244.00)-61%-57%-53%-57%-57%Otros Activos no Corrientes0.01,664,427.001,602,654.00581,156.00581,159.340%5%4%2%1%Activo no Corriente16,838,102.0017,930,574.0018,068,812.0016,044,073.0016,302,781.1758%53%46%43%41%Activos Totales29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.17100%100%100%100%100%

Cuentas y Documentos por Pagar11,034,902.0010,810,534.0013,487,068.6311,177,231.0011,559,411.0038%32%35%30%29%Prstamos Bancarios a CP1,118,355.001,793,528.611,856,780.002,371,394.001,801,194.004%5%5%6%5%Provisiones1,385,077.001,178,897.002,022,564.001,580,616.002,059,523.005%3%5%4%5%Otros Pasivos Corrientes618,634.06675,169.00718,063.00920,413.00750,355.002%2%2%2%2%Pasivo Corriente14,156,968.0614,458,128.6118,084,475.6316,049,654.0016,170,483.0049%42%46%43%41%Prstamos Bancarios a LP566,657.003,862,992.002,862,568.004,978,403.006,441,786.002%11%7%13%16%Pasivo no Corriente566,657.003,862,992.002,862,568.004,978,403.006,441,786.002%11%7%13%16%Pasivos Totales14,723,625.0618,321,120.6120,947,043.6321,028,057.0022,612,269.0051%54%54%56%57%Capital Social9,091,040.009,091,040.0010,891,040.009,091,040.009,091,040.0031%27%28%24%23%Reservas Legal625,230.79757,072.29800,613.55836,942.99911,177.222%2%2%2%2%Supervits2,368,095.402,368,095.402,368,095.402,368,095.402,368,095.408%7%6%6%6%Utilidades Retenidas2,031,684.942,258,531.753,484,657.703,889,591.424,227,455.217%7%9%10%11%Utilidad del Ejercicio226,846.811,226,125.95404,933.72337,863.79690,378.341%4%1%1%2%Patrimonio14,342,897.9415,700,865.3917,949,340.3716,523,533.6017,288,146.1749%46%46%44%43%Pasivo y Patrimonio29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.17100%100%100%100%100%(0.00)(0.00)(0.00)(0.00)(0.00)

Est de Resultados Met CombEstado de ResultadosBase ComunMetodo CombinadoCuentas/Ao20102011201220132014201020112012201320142010-20112010-20122010-20132010-2014Ventas Netas69,774,130.0074,693,745.0061,993,168.0069,627,921.0071,563,913.00100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00% - Costo de Ventas49,952,572.0053,268,992.0039,646,124.0044,268,172.0046,429,044.0071.59%71.32%63.95%63.58%64.88%99.62%89.33%88.81%90.62%Utilidad Bruta19,821,558.0021,424,753.0022,347,044.0025,359,749.0025,134,869.0028.41%28.68%36.05%36.42%35.12%100.97%126.89%128.21%123.63% - Gastos de Administracin monetarios4,585,944.854,764,297.844,899,987.796,313,529.796,233,340.586.57%6.38%7.90%9.07%8.71%97.05%120.26%137.96%132.52% - Gastos de Venta monetarios13,252,642.5312,528,745.3113,830,803.7416,731,992.8315,684,387.3318.99%16.77%22.31%24.03%21.92%88.31%117.46%126.52%115.39% - Depreciacin1,333,098.001,585,857.001,149,826.00905,783.001,099,690.001.91%2.12%1.85%1.30%1.54%111.13%97.08%68.09%80.43% - Amortizacin0.00.00.00.00.00.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% - Obsolescencia de Inventarios0.00.00.00.00.00.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% - Cuentas incobrables141,581.621,556,432.85972,612.47411,891.38439,961.090.20%2.08%1.57%0.59%0.61%1026.91%773.19%291.53%302.98%Gastos de Operacin19,313,267.0020,435,333.0020,853,230.0024,363,197.0023,457,379.0027.68%27.36%33.64%34.99%32.78%98.84%121.53%126.41%118.42%Utilidad de Operacin508,291.00989,420.001,493,814.00996,552.001,677,490.000.73%1.32%2.41%1.43%2.34%181.84%330.78%196.47%321.77% +Otros Ingresos185,601.001,427,458.00765,311.00300,799.00129,145.000.27%1.91%1.23%0.43%0.18%718.44%464.10%162.41%67.84% -Otros Gastos140,692.00245,502.001,035,533.00214,230.00154,921.000.20%0.33%1.67%0.31%0.22%163.00%828.41%152.59%107.36%Utilidad antes de Intereses e Impuestos553,200.002,171,376.001,223,592.001,083,121.001,651,714.000.79%2.91%1.97%1.56%2.31%366.66%248.95%196.20%291.11% -Gastos Financieros 204,741.00287,926.00601,574.00564,129.00591,225.000.29%0.39%0.97%0.81%0.83%131.37%330.70%276.11%281.55%Utilidad antes del Periodo348,459.001,883,450.00622,018.00518,992.001,060,489.000.50%2.52%1.00%0.75%1.48%504.91%200.91%149.25%296.73% -Reserva Legal24,392.13131,841.5043,541.2636,329.4474,234.230.03%0.18%0.07%0.05%0.10%504.91%200.91%149.25%296.73%Utilidad Antes de Impuesto324,066.871,751,608.50578,476.74482,662.56986,254.770.46%2.35%0.93%0.69%1.38%504.91%200.91%149.25%296.73%Impuestos97,220.06525,482.55173,543.02144,798.77295,876.430.14%0.70%0.28%0.21%0.41%504.91%200.91%149.25%296.73%Utilidad Neta 226,846.811,226,125.95404,933.72337,863.79690,378.340.33%1.64%0.65%0.49%0.96%504.91%200.91%149.25%296.73%

Hoja1

Balance Gral Met CombBalance GeneralBase ComunMetodo CombinadoCuentas/Ao20102011201220132014201020112012201320142010-20112011-201220132014Efectivo y Equivalentes1,031,161.001,156,942.003,327,344.003,604,338.004,666,135.003.55%3.40%8.55%9.60%11.69%95.86%241.13%270.56%329.64%Cuentas y documentos por Cobrar7,274,786.6210,383,579.8514,351,059.4714,510,918.3813,803,426.0925.03%30.52%36.90%38.64%34.59%121.94%147.42%154.40%138.22% -Estimacin por Cuentas Incobrables(141,581.62)(1,556,432.85)(972,612.47)(411,891.38)(439,961.09)-0.49%-4.57%-2.50%-1.10%-1.10%939.20%513.35%225.19%226.37%Inventarios4,064,055.006,107,323.004,121,781.003,804,152.605,568,034.0013.98%17.95%10.60%10.13%13.95%128.39%75.79%72.45%99.81%Activo Corriente12,228,421.0016,091,412.0020,827,572.0021,507,517.6023,597,634.0042.07%47.30%53.55%57.27%59.14%112.42%127.28%136.14%140.58%Inversiones Financieras2,747,520.003,153,991.003,478,711.002,747,520.002,868,715.839.45%9.27%8.94%7.32%7.19%98.07%94.62%77.40%76.06%Terrenos7,334,342.006,914,196.006,914,196.006,624,196.006,914,196.0025.23%20.32%17.78%17.64%17.33%80.54%70.45%69.91%68.67%Edificios3,426,070.003,426,070.003,426,070.003,435,415.003,788,397.0011.79%10.07%8.81%9.15%9.49%85.43%74.73%77.62%80.55%Inversiones en bienes muebles21,142,258.0022,169,835.0023,194,952.0024,109,340.0024,703,557.0072.74%65.16%59.63%64.20%61.91%89.59%81.98%88.27%85.12% - Depreciacin acumulada de propiedades y bienes muebles(17,812,088.00)(19,397,945.00)(20,547,771.00)(21,453,554.00)(22,553,244.00)-61.28%-57.02%-52.83%-57.13%-56.52%93.04%86.21%93.23%92.24%Otros Activos no Corrientes0.01,664,427.001,602,654.00581,156.00581,159.340.00%4.89%4.12%1.55%1.46%0.00%0.00%0.00%0.00%Activo no Corriente16,838,102.0017,930,574.0018,068,812.0016,044,073.0016,302,781.1757.93%52.70%46.45%42.73%40.86%90.98%80.19%73.75%70.53%Activos Totales29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.17100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%

Cuentas y Documentos por Pagar11,034,902.0010,810,534.0013,487,068.6311,177,231.0011,559,411.0037.96%31.78%34.67%29.77%28.97%83.70%91.33%78.40%76.31%Prstamos Bancarios a CP1,118,355.001,793,528.611,856,780.002,371,394.001,801,194.003.85%5.27%4.77%6.32%4.51%137.01%124.07%164.13%117.33%Provisiones1,385,077.001,178,897.002,022,564.001,580,616.002,059,523.004.77%3.47%5.20%4.21%5.16%72.72%109.12%88.33%108.32%Otros Pasivos Corrientes618,634.06675,169.00718,063.00920,413.00750,355.002.13%1.98%1.85%2.45%1.88%93.24%86.74%115.16%88.36%Pasivo Corriente14,156,968.0614,458,128.6118,084,475.6316,049,654.0016,170,483.0048.71%42.50%46.49%42.74%40.53%87.25%95.46%87.75%83.21%Prstamos Bancarios a LP566,657.003,862,992.002,862,568.004,978,403.006,441,786.001.95%11.35%7.36%13.26%16.14%582.42%377.50%680.04%828.14%Pasivo no Corriente566,657.003,862,992.002,862,568.004,978,403.006,441,786.001.95%11.35%7.36%13.26%16.14%582.42%377.50%680.04%828.14%Pasivos Totales14,723,625.0618,321,120.6120,947,043.6321,028,057.0022,612,269.0050.65%53.85%53.85%56.00%56.67%106.31%106.31%110.55%111.88%Capital Social9,091,040.009,091,040.0010,891,040.009,091,040.009,091,040.0031.28%26.72%28.00%24.21%22.78%85.43%89.52%77.40%72.85%Reservas Legal625,230.79757,072.29800,613.55836,942.99911,177.222.15%2.23%2.06%2.23%2.28%103.45%95.69%103.61%106.16%Supervits2,368,095.402,368,095.402,368,095.402,368,095.402,368,095.408.15%6.96%6.09%6.31%5.94%85.43%74.73%77.40%72.85%Utilidades Retenidas2,031,684.942,258,531.753,484,657.703,889,591.424,227,455.216.99%6.64%8.96%10.36%10.60%94.97%128.17%148.19%151.58%Utilidad del Ejercicio226,846.811,226,125.95404,933.72337,863.79690,378.340.78%3.60%1.04%0.90%1.73%461.78%133.39%115.29%221.70%Patrimonio14,342,897.9415,700,865.3917,949,340.3716,523,533.6017,288,146.1749.35%46.15%46.15%44.00%43.33%93.52%93.52%89.17%87.81%Pasivo y Patrimonio29,066,523.0034,021,986.0038,896,384.0037,551,590.6039,900,415.17100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%(0.00)(0.00)(0.00)(0.00)(0.00)