Impact
Economic impact
Revenue, contribution margin, unit cost and capacity utilisation from the quarterly series, alongside the return scenarios of the 2021 business plan, which are projections and labelled as such.
Revenue
6.2%vs previous quarter
Contribution margin
6.9%vs previous quarter
Variable cost per MT of flake
No prior quarter in the series
Capacity utilisation
6.2%vs previous quarter
Flake output
6.2%vs previous quarter
Working capital cycle
No prior quarter in the series
60 days between receiving material and collecting payment
Revenue and contribution margin by quarter
Capacity utilisation by quarter
utilisation = flakeMT / (1.5 × 0.75 × shift hours × production days in quarter)
Variable cost breakdown, USD per MT of flake
| Chemicals | 30 |
| Boiler diesel | 29 |
| Packaging | 28 |
| Generator diesel | 2 |
| Contingency | 6 |
| Total | 94 |
Fixed cost structure
| Fixed costs per month | 11,792 USD |
| Fixed payroll per month, 12 people | 9,900 USD |
| Each additional shift, 8 people | 4,200 USD |
| Annual capex | 100,000 USD |
- Depreciation assumed over 4 years against a physical life of 10 years or more
- Assumed average tax rate of 15 %; the Venezuelan statutory rate is 34 % with exonerations
Return scenarios, 2021 business plan
These are the plan's own projections at 2021 market prices, not results. First-year return on equity and payback period by scenario.
Current situation
First-year ROE
41%
Payback
2.5 years
Normal scenario
First-year ROE
67%
Payback
1.4 years
Excellent supply scenario
First-year ROE
163%
Payback
0.5 years
Venezuelan market context
| Metric | Value |
|---|---|
| PET bottle generated per year | 28,000 MT/year |
| Collection rate | 30% |
| Available for processing | 8,400 MT/year |
| Processed by competing capacity | 4,000 MT/year |