capex controlling - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.icv-srbija-capex-controlling... ·...
TRANSCRIPT
![Page 1: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/1.jpg)
CAPEX
CONTROLLING
BOJAN ŠĆEPANOVIĆ
direktor MCB
predsednik ICV Srbija
Beograd, 26 sep 2016
![Page 2: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/2.jpg)
2
CAPEX controlling
10 IGC procesa
„Sve je to isto...“
4 vrste CAPEX-a
"Prvo plati, pa se klati..."
"Od izvora dva putića..."
10 CAPEX zapovesti
1
2
3
4
5
6
![Page 3: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/3.jpg)
Controlling je nemačka filozofija
ostvarivanja ciljeva
![Page 4: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/4.jpg)
Controlling je nemačka filozofija
ostvarivanja ciljeva
![Page 5: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/5.jpg)
5
Istorija controllinga počinje 1971. godine osnivanjem Controller
Akademie od strane „oca controllinga“ Albrecht Deyhle
1971 1975 1994 2011
![Page 6: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/6.jpg)
6
1.Ciljevi
2.Planovi
3.Kontrola
![Page 7: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/7.jpg)
7
1.Ciljevi
2.Merenje
3.Odstupanje
4.Korektivna akcija
![Page 8: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/8.jpg)
8
1.Strateško planiranje
2. Operativno planiranje i budžet
3. Forecast
4. Troškovi
7. Rizici
8. Funkcije (Nabavka, HR, Oper.)
9. Podrška menadžmentu
10. Kaizen, bre!
5. Izveštavanje
6. Projekti / CAPEX
![Page 9: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/9.jpg)
1.
Strateško
planiranje
![Page 10: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/10.jpg)
2.
Operativno
planiranje
(budžet)
![Page 11: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/11.jpg)
3. Prognoziranje
(forecasting)
![Page 12: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/12.jpg)
4. Troškovi
![Page 13: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/13.jpg)
5. Izveštavanje
menadžmenta
(reporting)
![Page 14: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/14.jpg)
Top 10 kupaca je donelo rast od +947 kEUR (+32%)
dok su ostali kupci izgubili prodaju od -570 kEUR (-12%)
Global dooProdaja u kEURJan...Sep 2013
Izvor: Controlling MCB Menadžment Centar Beograd
+250
+257
+89
+224
+123
+70
+69
+87
+947
-178
-44
-570
+377
+35%
+58%
+17%
+231%
+87%
+41%
+58%
+118%
+32%
-40%
-16%
-12%
+5%
973
703
598
321
265
264
241
225
188
161
3,939
4,145
8,084
Aladin
Bojan
Cuca
Delta
Evgenije
Franjo
Goran
Hasija
Ilija
Jelena
TOP 10
Ostali
Srbija
ACT ΔLY ΔLY%
![Page 15: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/15.jpg)
Hemofarm is leader in volume (packs) with market share of 13,8%
while market share in value (EUR) is relatively stable on 6,2%
BIHTotal Pharma Market (Rx+OTC)Market share in %Jan…Aug 2014
Source: IMS
13,8
12,3
10,6
10,5
8,0
7,2
4,5
3,2
2,5
2,0
25,3
-1,0
-0,9
+4,8
-0,8
+0,1
-1,4
-0,4
+0,1
+0,3
-0,1
+3,1
Hemofarm
Bosnalijek
Alkaloid
Krka
Lek
Pliva
Bayer
Berlin-Chemie
Farmavita
Nobelpharma
Others
7,8
6,9
6,3
6,2
6,0
5,2
4,7
4,7
4,6
4,4
42,9
-0,8
-0,2
-0,3
-0,1
+0,6
-0,6
+0,5
+0,2
-0,1
-0,5
+1,7
Krka
Bosnalijek
Roche
Hemofarm
Lek
Pliva
Alkaloid
Sanofi
Bayer
Alkaloid
Others
ACT ΔPY ACT ΔPY
Volume(∑48 mPacks, +11%)
Value(∑170 mEUR, +5%)
![Page 16: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/16.jpg)
Significant decrease of Vazotal due to price reduction
Significant decrease of Prilenap due to decrease of quantities
SerbiaNet sales ONTop 10 variances vs Previous Year in kEURJan...Sep 2014
Source: Internal (SAP, Hemofarm)
2013 58.270
Bromazepam 3.978
Diklofenak 1.531
Paracetamol 772
Azaran 672
Hepathrombin 1.253
Ranitidin 1.865
Tensec 1.250
Cefaleksin 1.036
Hemokulin 674
Pressing 893
Vazotal 852
Prilenap 1.894
Zobox 144
Doksicilin 135
Gluformin 1.965
Diprian 260
Gentokulin 173
Presolol 2.013
Monizol 1.406
Aminosol 323
Others 41.685
2014 64.775
+1.054
+610
+590
+565
+492
+476
+321
+309
+303
+291
-571
-416
-295
-149
-120
-113
-110
-109
-103
-83
+3.563
+36
+66
+324
+530
+65
+34
+35
+82
+48
+9
-40
-18
-67
-52
-6
-30
-39
-5
-7
-21
∆ 2.942
+5.013
-2.071
ΔPY ΔPY%
![Page 17: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/17.jpg)
Current sales is higher than BE
due to achievement of quarterly goals by wholesalers
SerbiaNet sales ONTop 10 variances vs Budget in kEURJan...Sep 2014
Source: Internal (SAP, Hemofarm)
∑=1.458
BE 63.317
Bromazepam 3.978
Natrii chloridi inf 2.618
Gluformin 1.965
Monizol 1.406
Panklav 1.837
Propafen 1.249
Serevent 346
Cefalexin 1.036
Cornelin 350
Tensec 1.250
Natrii chlor.comp 523
Glucosi Infudibile 721
Azaran 672
Prilenap 1.894
Hepathrombin 1.253
Dilcoran 858
Eqralys 146
Ladival 72
Hrmokvin plus 1.050
Nystatine 252
Others 41.297
ACTUAL 64.775
-80
-78
-67
-63
-47
-40
-39
-37
-34
-31
+326
+244
+212
+205
+105
+96
+92
+76
+75
+73
+471
+9
+10
+12
+17
+6
+8
+36
+8
+27
+6
+1
-13
-10
-9
-3
-4
-4
-21
-34
-3
-11
∑=2
+1.504
-516
ΔBUD ΔBUD%
![Page 18: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/18.jpg)
6. Controlling
projekata i
investicija
![Page 19: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/19.jpg)
7. Rizici
![Page 20: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/20.jpg)
8. Controlling
funkcija
![Page 21: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/21.jpg)
9. Podrška
menadžmentu
![Page 22: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/22.jpg)
10.
Unapređenje
organizacije,
procesa,
instrumenata i
sistema
![Page 23: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/23.jpg)
23
Misija controllinga je definisana od strane
International Group of Controlling (IGC)
![Page 24: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/24.jpg)
24
CAPEX controlling
10 IGC procesa
„Sve je to isto...“
4 vrste CAPEX-a
"Prvo plati, pa se klati..."
"Od izvora dva putića..."
10 CAPEX zapovesti
1
2
3
4
5
6
![Page 25: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/25.jpg)
25
Različiti nazivi za iste stvari...
• Business case
• Izrada i procena investicionih projekata
• Ekonomska opravdanost investicionih projekata
• Studija izvodljivosti
• Cost-Benefit analiza
• NPV kalkulacija
• Total Cost of Ownership (TCO)
• Capital Budgeting
• DCF Analiza
• CAPEX analiza
![Page 26: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/26.jpg)
26
CAPEX controlling
10 IGC procesa
„Sve je to isto...“
4 vrste CAPEX-a
"Prvo plati, pa se klati..."
"Od izvora dva putića..."
10 CAPEX zapovesti
1
2
3
4
5
6
![Page 27: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/27.jpg)
27
4 vrste CAPEX-a
1. Osnovno sredstvo (CAPEX) Kupiti novu opremu
Zameniti staru opremu
Izgraditi novu benzinsku pumu
Kupiti SAP od 10 MEUR
2. Novi proizvod (product development) Razvijati novi proizvod
Lansirati novi proizvod
Uzeti novog principala (dobavljača)
3. Novo tržište (market development) Razviti novu distributivnu mrežu
Uložiti u marketing kampanju
Promeniti kanale distribucije
Otvoriti novi region
4. Kupovina kompanije (M&A) Kupiti drugu kompaniju
Prodati sopstvenu kompaniju
![Page 28: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/28.jpg)
28
CAPEX controlling
10 IGC procesa
„Sve je to isto...“
4 vrste CAPEX-a
"Prvo plati, pa se klati..."
"Od izvora dva putića..."
10 CAPEX zapovesti
1
2
3
4
5
6
![Page 29: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/29.jpg)
29
„Na muci se poznaju junaci....“
![Page 30: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/30.jpg)
30
„Na muci se poznaju junaci....“
0 1 2
3 4 5 6 7
vreme
Cost (-) Benefit (+)
![Page 31: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/31.jpg)
31
„Na muci se poznaju junaci....“
2005 godine trebalo je da poleti prvi A380 ...
2000
2005
2001 2002 2003 2004
Cost (-)
13 milijardi EURProdajna cena jednog aviona
216 miliona EUR
![Page 32: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/32.jpg)
32
CAPEX controlling
10 IGC procesa
„Sve je to isto...“
4 vrste CAPEX-a
"Prvo plati, pa se klati..."
"Od izvora dva putića..."
10 CAPEX zapovesti
1
2
3
4
5
6
![Page 33: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/33.jpg)
33
Od izvora dva putića
Od izvora dva putića
vode na dve strane
ne znam kojim pre bih stigla
do tebe jarane
Gledam jedan gledam drugi
oba su mi mila
i jednim sam i drugim sam
s tobom prolazila
Jedan vodi kroz voćnjake
iznad našeg sela
tu nas tvoja majka jednom
zagrljene srela
Dala mi je od sveg srca
cvet iz bašte vaše
uzmi, uzmi rano moja
ti si zlato naše
Leto prođe jesen ide
sve se manje javljaš
ružu tvoju i ne gledaš
mene zaboravljaš.
![Page 34: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/34.jpg)
34
![Page 35: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/35.jpg)
35
Od izvora dva putića...
"Od izvora dva putića..."
Ekonomija (NPV)
Finansije (keš)
„A“ -1.000 +500 +500 +500 +500
-1.000 0 0 0 4.000
0 1 2 3 4
„B“
Ekonomija
(NPV)
Finansije
(keš)
1.000
3.000
2 god
4 god
![Page 36: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/36.jpg)
36
CAPEX controlling
10 IGC procesa
„Sve je to isto...“
4 vrste CAPEX-a
"Prvo plati, pa se klati..."
"Od izvora dva putića..."
10 CAPEX zapovesti
1
2
3
4
5
6
![Page 37: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/37.jpg)
1.Keš
2.Diskontovanje
3.NPV, IRR, payback
4.Obrtna sredstva
5.Rezidual
6.Finansijski CF
7.Posle poreza
8.Marginalni CF
9.1-2-3...
10.Analiza osetljivosti
![Page 38: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/38.jpg)
0 1 2 3 4 5
CF -1.000 -200 -50 400 600 1.200
Diskont 10% 1,00 0,91 0,83 0,75 0,68 0,62
DCF -1.000 -182 -41 301 410 745
NPV 232
IRR 15%
Primer
![Page 39: CAPEX CONTROLLING - mcb.rsmcb.rs/wp-content/uploads/2016/09/29.ICV-Srbija-CAPEX-Controlling... · CAPEX CONTROLLING BOJAN ŠĆEPANOVIĆ direktor MCB predsednik ICV Srbija Beograd,](https://reader033.vdocuments.mx/reader033/viewer/2022052708/5a709e657f8b9ab6538c1bf0/html5/thumbnails/39.jpg)
Primer