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Y1 Y2 Y3 Revenue 3.160.080 3.160.080 3.160.080 OPEX (operational expenses) EBITDA 1.194.880 2 1.194.880 ? 1.194.880 ? Depreciation 532.600 EBIT 532.600 ? ? 532.600 ?

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Y1 Y2 Y3 Revenue 3.160.080 3.160.080 3.160.080 OPEX (operational expenses) EBITDA 1.194.880 2 1.194.880 ? 1.194.880 ? Depreciation 532.600 EBIT 532.600 ? ? 532.600 ? Interest Expense EBT 389.760 2 389.760 ? 355.842 2 Corporate Tax 229,425 229.425 236.887 VAT Received Net Income 813.415 813.415 839.871 Depreciation 532.600 532.600 532.600 Interest Expense 389.760 389760 355.842 CAPEX 100.000 100.000 Project Cash Flows What are the PCF for Y Y2 and 137

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