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Solve Equity Value of Lal Pir Cash Flow for Free cash flow, Total Value Growth rate and Equity Cash Flow using the following information Lal

Solve Equity Value of Lal Pir Cash Flow for Free cash flow, Total Value Growth rate and Equity Cash Flow using the following information
Lal Pir (Pakistan) Contract Generation Income Revenue EBITDA Depreciation Operating Profit Interest Taxes Net Profit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 312.5 313.6 314.7 315.8 316.9 319.0 319.1 320.2 321.4 322.5 322.6 324.7 325.9 327.0 328.2 329.3 330.5 331.6 332.8 333.9 100.0 100.4 100.7 101.1 101.4 101.8 102.1 102.5 102.8 102 103.6 109.9 104.3 104.6 106.0 105.4 106.7 106.1 106.5 106.9 (30.6) (31.3) (31.9) (22.5) (23.1) (33.8) (34.4) (35.1) (35.7) (36.3) 37.0) (37.6) (38.3) (39.0) (29.6) (40.3) (409) (41.6) (423) (42.9) 69.4 69.1 68.8 68.5 68.3 68.0 67.7 67.4 67.1 66.8 66.6 68.3 66.0 65.7 65.4 65.1 64.8 64.5 64.2 63.9 (44.1) (42.7) 41.1) (39.4) (27.5) (35.4) (332) (30.7) (28.0) (25.0) (21.8) (18.2) (14.3) (9.9) (5.2) 0.0 0.0 0.0 0.0 0.0 (9.2) (8.8) (9.7) (10.2) (10.8) (11.4) (12.1) (12.9) (13.7) (14.6) (15.7) (16.8) (18.1) (19.5) (21.1) (22.8) (22.7) (22.6) (22.5) (22.4) 16.4 17.2 18.0 19.0 20.0 21.2 22.4 23.9 25.4 27.2 29.1 31.3 33.6 36.2 39.1 42.3 42.1 41.9 41.8 41.6 68.9 67.7 66.0 65.7 88.1 98.7 90.2 90.9 912 92.5 Cash Flow Operating Prolit Addback Depreciation Maintenance Capex Pre-Tex, Pre-Finance Cash Flow Interest Principal New Debt Taxes Levered Equity Cash Flow Lev Equity Cash Flow with TV Unlevered Cash Flow Unlevered Cash Flow with TV 69.4 69.1 68.5 68.3 69.0 67.4 67.1 66.6 66.6 66.3 65.4 66.1 64.8 64.5 64.2 63.9 30.6 31.3 31.9 32.5 33.1 33.8 34.4 35.1 35.7 36.3 37.0 37.6 38.3 39.0 39.6 40.3 40.9 41.6 42.3 42.9 (12.5) (12.5) (12.6) (12.6) (12.7) (12.7) (12.8) (12.8) (12.9) (12.9) (12.9) (12.0) (13.0) (12.1) (12.1) (13.2) (13.2) (13.3) (12.3) (10.4) 87.5 87.8 89.4 89.0 89.4 89.7 90.0 90.6 91.6 91.9 92.2 92.9 93.2 99.5 (44.1) (42.7) 41.1) (39.4) (27.5) (35.4) 33.2) (30.7) (28.0) (25.0) (21.8) (18.2) (14.3) (9.9) (5.2) 0.0 0.0 0.0 0.0 0.0 (142) (15.5) (16.9) (10.4) 20.1) (22.0) (24.1) (26.4) 29.0) (31.8) 34.9) (38.3) 42.1) (46.2) (50.8) (0.0) (0.0) (0.0) 0.0 0.0 0.0 (0.0) (0.0) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (8.8) (9.2) (9.7) (10.2) (10.8) (11.4) (12.1) (12.9) (13.7) (14.6) (15.7) (16.8) (18.1) (19.5) (21.1) (22.8) (22.7) (22.6) (22.5) (22.4) 20.3 20.4 204 20.4 20.2 20.0 19.7 19.3 18.9 18.3 17.6 16.8 15.0 14.8 69.4 69.8 70.3 70.7 71.1 20.3 20.4 20.4 20.4 20.3 20.2 20.0 19.7 19.3 18.9 18.3 17.6 16.8 15.9 69.4 69.8 70.3 70.7 71.1 63.2 63.6 64.0 64.4 64.8 65.2 65.7 68.1 66.5 66.9 67.3 67.7 68.2 68.6 69.0 69.4 69.8 70.3 70.7 71.1 63.2 62.6 64.0 64.4 64.8 65.2 65.7 66.1 66.5 66.9 67.3 67.7 68.2 68.6 69.0 69.4 69.8 70.3 70.7 71.1 20.3 22.4 Capitalization Initial PP&E Goodwill Acum Depreciation Total Assets Debt Equity Total Capital 612.5 25.0 637.6 650.3 662.9 675.7 688.4 7012 714.1 727.0 739.9 752.9 766.0 779.0 792.2 805.3 818.6 831.8 845.1 958.5 22.4 22.4 22.4 224 22.4 224 22.4 224 22.4 224 22.4 22.4 22.4 22.4 224 22.4 22.4 22.4 (30.6) (61.9) (93.8) (128.2) (159.4) 190.2) (227.6) (262.7) (298.4) 334.7) (371.7) (409.4) (447.7) (486.6) (526.2) (586.5) (607.4 (649.0) (691.3) (734.2) 604.3 595.6 566.3 546.4 525.9 504.9 493.2 461.0 438.1 414.7 390.6 365.9 340.7 314.8 288.3 261.2 233.5 205.2 176.3 146.7 416.5 401.0 394.1 385.7 345.6 329.6 299.4 273.0 244.1 212.3 177.4 139.1 97.0 50.8 (0,0) (0.0) (0.0) (0.0) (0.0) (0.0) 187.8 194.6 192.1 190.7 180.3 191.3 193.8 187.9 194.1 202.4 213.2 226.8 243.6 264.0 288.3 261.2 233.5 205.2 176.3 146.7 604.3 585.6 566.3 546.4 525.9 504.9 483.2 461.0 438.1 414.7 390.6 365.9 340.7 314.8 288.3 261.2 233.5 205.2 176.3 146.7 2 1 2004 69.4 30.6 12.5 EBIT 2005 69.1 31.3 12.5 3 4 2006 2007 68.8 68.5 31.9 32.5 12.6 12.6 Free Cash Flow Calculations 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 68.3 68.0 67.7 67.4 67.1 66.8 66.6 66.3 66.0 65.7 65.4 65.1 64.8 64.5 64.2 33.1 33.8 34.4 35.1 35.7 36.3 37.0 37.6 38.3 39.0 39.6 40.3 40.9 41.6 42.3 12.7 12.7 12.8 12.8 12.9 12.9 12.9 13.0 13.0 13.1 13.1 13.2 13.2 13.3 13.3 20 2023 63.9 42.9 13.4 21 TV 1,333.6 734.2 258.5 + Depr. - - Cap. Ex. - WC Inc. Oper. CF - Taxes Free CF 87.5 8.8 78.7 87.9 9.2 78.7 88.1 9.7 78.4 88.4 10.2. 78.2 88.7 10.8 77.9 89.1 11.4 77.7 89.3 12.1 77.2 89.7 12.9 76.8 89.9 90.2 13.7 14.6 76.2 75.6 90.7 15.7 75.0 90.9 16.8 74.1 91.3 18.1 73.2 91.6 19.5 72.1 91.9 21.1 70.8 92.2 22.8 69.4 92.5 22.7 69.8 92.8 93.2 22.6 22.5 70.2 70.7 TV growth rate 93.4 22.4 71.0 1,809.3 317.6 1,491.7 15.85% NPV: 23.1% Total EV Value of the debt Equity Value from 2004 Capitalization... 1 2 2005 20.4 2004 20.3 Equity Cash Flow Calculations 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 20.3 20.2 20.0 19.7 19.3 18.9 18.3 17.6 16.8 15.9 14.8 69.4 69.8 70.3 70.7 3 4 2006 2007 20.4 20.4 20 2023 71.1 21 TV 634.6 Equity CF NPV: 17.1% Equity Value Initial Equity Investment Net Equity Value from 2004 Capitalization... Lal Pir (Pakistan) Contract Generation Income Revenue EBITDA Depreciation Operating Profit Interest Taxes Net Profit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 312.5 313.6 314.7 315.8 316.9 319.0 319.1 320.2 321.4 322.5 322.6 324.7 325.9 327.0 328.2 329.3 330.5 331.6 332.8 333.9 100.0 100.4 100.7 101.1 101.4 101.8 102.1 102.5 102.8 102 103.6 109.9 104.3 104.6 106.0 105.4 106.7 106.1 106.5 106.9 (30.6) (31.3) (31.9) (22.5) (23.1) (33.8) (34.4) (35.1) (35.7) (36.3) 37.0) (37.6) (38.3) (39.0) (29.6) (40.3) (409) (41.6) (423) (42.9) 69.4 69.1 68.8 68.5 68.3 68.0 67.7 67.4 67.1 66.8 66.6 68.3 66.0 65.7 65.4 65.1 64.8 64.5 64.2 63.9 (44.1) (42.7) 41.1) (39.4) (27.5) (35.4) (332) (30.7) (28.0) (25.0) (21.8) (18.2) (14.3) (9.9) (5.2) 0.0 0.0 0.0 0.0 0.0 (9.2) (8.8) (9.7) (10.2) (10.8) (11.4) (12.1) (12.9) (13.7) (14.6) (15.7) (16.8) (18.1) (19.5) (21.1) (22.8) (22.7) (22.6) (22.5) (22.4) 16.4 17.2 18.0 19.0 20.0 21.2 22.4 23.9 25.4 27.2 29.1 31.3 33.6 36.2 39.1 42.3 42.1 41.9 41.8 41.6 68.9 67.7 66.0 65.7 88.1 98.7 90.2 90.9 912 92.5 Cash Flow Operating Prolit Addback Depreciation Maintenance Capex Pre-Tex, Pre-Finance Cash Flow Interest Principal New Debt Taxes Levered Equity Cash Flow Lev Equity Cash Flow with TV Unlevered Cash Flow Unlevered Cash Flow with TV 69.4 69.1 68.5 68.3 69.0 67.4 67.1 66.6 66.6 66.3 65.4 66.1 64.8 64.5 64.2 63.9 30.6 31.3 31.9 32.5 33.1 33.8 34.4 35.1 35.7 36.3 37.0 37.6 38.3 39.0 39.6 40.3 40.9 41.6 42.3 42.9 (12.5) (12.5) (12.6) (12.6) (12.7) (12.7) (12.8) (12.8) (12.9) (12.9) (12.9) (12.0) (13.0) (12.1) (12.1) (13.2) (13.2) (13.3) (12.3) (10.4) 87.5 87.8 89.4 89.0 89.4 89.7 90.0 90.6 91.6 91.9 92.2 92.9 93.2 99.5 (44.1) (42.7) 41.1) (39.4) (27.5) (35.4) 33.2) (30.7) (28.0) (25.0) (21.8) (18.2) (14.3) (9.9) (5.2) 0.0 0.0 0.0 0.0 0.0 (142) (15.5) (16.9) (10.4) 20.1) (22.0) (24.1) (26.4) 29.0) (31.8) 34.9) (38.3) 42.1) (46.2) (50.8) (0.0) (0.0) (0.0) 0.0 0.0 0.0 (0.0) (0.0) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (8.8) (9.2) (9.7) (10.2) (10.8) (11.4) (12.1) (12.9) (13.7) (14.6) (15.7) (16.8) (18.1) (19.5) (21.1) (22.8) (22.7) (22.6) (22.5) (22.4) 20.3 20.4 204 20.4 20.2 20.0 19.7 19.3 18.9 18.3 17.6 16.8 15.0 14.8 69.4 69.8 70.3 70.7 71.1 20.3 20.4 20.4 20.4 20.3 20.2 20.0 19.7 19.3 18.9 18.3 17.6 16.8 15.9 69.4 69.8 70.3 70.7 71.1 63.2 63.6 64.0 64.4 64.8 65.2 65.7 68.1 66.5 66.9 67.3 67.7 68.2 68.6 69.0 69.4 69.8 70.3 70.7 71.1 63.2 62.6 64.0 64.4 64.8 65.2 65.7 66.1 66.5 66.9 67.3 67.7 68.2 68.6 69.0 69.4 69.8 70.3 70.7 71.1 20.3 22.4 Capitalization Initial PP&E Goodwill Acum Depreciation Total Assets Debt Equity Total Capital 612.5 25.0 637.6 650.3 662.9 675.7 688.4 7012 714.1 727.0 739.9 752.9 766.0 779.0 792.2 805.3 818.6 831.8 845.1 958.5 22.4 22.4 22.4 224 22.4 224 22.4 224 22.4 224 22.4 22.4 22.4 22.4 224 22.4 22.4 22.4 (30.6) (61.9) (93.8) (128.2) (159.4) 190.2) (227.6) (262.7) (298.4) 334.7) (371.7) (409.4) (447.7) (486.6) (526.2) (586.5) (607.4 (649.0) (691.3) (734.2) 604.3 595.6 566.3 546.4 525.9 504.9 493.2 461.0 438.1 414.7 390.6 365.9 340.7 314.8 288.3 261.2 233.5 205.2 176.3 146.7 416.5 401.0 394.1 385.7 345.6 329.6 299.4 273.0 244.1 212.3 177.4 139.1 97.0 50.8 (0,0) (0.0) (0.0) (0.0) (0.0) (0.0) 187.8 194.6 192.1 190.7 180.3 191.3 193.8 187.9 194.1 202.4 213.2 226.8 243.6 264.0 288.3 261.2 233.5 205.2 176.3 146.7 604.3 585.6 566.3 546.4 525.9 504.9 483.2 461.0 438.1 414.7 390.6 365.9 340.7 314.8 288.3 261.2 233.5 205.2 176.3 146.7 2 1 2004 69.4 30.6 12.5 EBIT 2005 69.1 31.3 12.5 3 4 2006 2007 68.8 68.5 31.9 32.5 12.6 12.6 Free Cash Flow Calculations 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 68.3 68.0 67.7 67.4 67.1 66.8 66.6 66.3 66.0 65.7 65.4 65.1 64.8 64.5 64.2 33.1 33.8 34.4 35.1 35.7 36.3 37.0 37.6 38.3 39.0 39.6 40.3 40.9 41.6 42.3 12.7 12.7 12.8 12.8 12.9 12.9 12.9 13.0 13.0 13.1 13.1 13.2 13.2 13.3 13.3 20 2023 63.9 42.9 13.4 21 TV 1,333.6 734.2 258.5 + Depr. - - Cap. Ex. - WC Inc. Oper. CF - Taxes Free CF 87.5 8.8 78.7 87.9 9.2 78.7 88.1 9.7 78.4 88.4 10.2. 78.2 88.7 10.8 77.9 89.1 11.4 77.7 89.3 12.1 77.2 89.7 12.9 76.8 89.9 90.2 13.7 14.6 76.2 75.6 90.7 15.7 75.0 90.9 16.8 74.1 91.3 18.1 73.2 91.6 19.5 72.1 91.9 21.1 70.8 92.2 22.8 69.4 92.5 22.7 69.8 92.8 93.2 22.6 22.5 70.2 70.7 TV growth rate 93.4 22.4 71.0 1,809.3 317.6 1,491.7 15.85% NPV: 23.1% Total EV Value of the debt Equity Value from 2004 Capitalization... 1 2 2005 20.4 2004 20.3 Equity Cash Flow Calculations 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 20.3 20.2 20.0 19.7 19.3 18.9 18.3 17.6 16.8 15.9 14.8 69.4 69.8 70.3 70.7 3 4 2006 2007 20.4 20.4 20 2023 71.1 21 TV 634.6 Equity CF NPV: 17.1% Equity Value Initial Equity Investment Net Equity Value from 2004 Capitalization

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