Arus Kas Arus Kas Kas Keluar

Lampiran 23 Proyeksi arus kas industri isoeugenol pada harga bahan baku Rp. 200.000,-kg TAHUN KE - Rupiah 1 2 3 4 5 6 7 8 9 10

A. Arus Kas

1. Laba Bersih 52,090,469,681 74,514,950,451 96,704,127,271 78,758,942,699 58,456,239,427 35,513,161,651 7,900,822,942 23,023,500,727 57,657,199,131 96,445,348,485 2. Penyusutan 528,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 3. Nilai Sisa 4. Pengembalian Modal Kerja 5. Modal Sendiri 43,675,732,836 6. Modal Pinjaman 101,910,043,283 Total Kas Masuk 145,585,776,119 52,618,472,181 74,707,952,951 96,897,129,771 78,951,945,199 58,649,241,927 35,706,164,151 8,093,825,442 22,830,498,227 57,464,196,631 96,252,345,985

B. Kas Keluar

1. Biaya Modal Tetap 4,130,050,000 2. Biaya Modal Kerja 141,455,726,119 3. Angsuran Pinjaman 20,382,008,657 20,382,008,657 20,382,008,657 20,382,008,657 20,382,008,657 Total Kas Keluar 145,585,776,119 20,382,008,657 20,382,008,657 20,382,008,657 20,382,008,657 20,382,008,657 Aliran Kas Bersih 32,236,463,524 54,325,944,294 76,515,121,114 58,569,936,543 38,267,233,270 35,706,164,151 8,093,825,442 22,830,498,227 57,464,196,631 96,252,345,985 Arus Kas Awal Tahun 32,236,463,524 54,325,944,294 76,515,121,114 58,569,936,543 38,267,233,270 35,706,164,151 8,093,825,442 22,830,498,227 57,464,196,631 96,252,345,985 Arus Kas Akhir Tahun 32,236,463,524 86,562,407,818 163,077,528,933 221,647,465,475 259,914,698,745 295,620,862,896 303,714,688,338 280,884,190,111 223,419,993,480 127,167,647,495 Uraian 1 9 Lampiran 24 Perhitungan NPV, IRR, BC Ratio dan PBP industri isoeugenol pada harga bahan baku Rp. 200.000,-kg Tahun Bt+Ct Akumulasi 0.12

0.5 0.6

Rp. Rp. DF PV Rp. DF PV Rp. DF PV Rp. 145,585,776,119 145,585,776,119 1 145,585,776,119 1 145,585,776,119 1 145,585,776,119 1 32,236,463,524 113,349,312,595 0.8929 101,209,601,216 0.666667 75,566,246,180 0.625000 63,256,000,760 2 54,325,944,294 59,023,368,301 0.7972 47,053,429,209 0.444444 26,232,581,901 0.390625 18,380,245,785 3 76,515,121,114 17,491,752,814 0.7118 12,450,629,653 0.296296 5,182,736,392 0.244141 3,039,704,505 4 58,569,936,543 76,061,689,356 0.6355 48,337,203,586 0.197531 15,024,541,560 0.152588 7,375,671,934 5 38,267,233,270 114,328,922,626 0.5674 64,870,230,698 0.131687 15,055,632,834 0.095367 6,186,507,292 6 35,706,164,151 150,035,086,777 0.5066 76,012,444,230 0.087791 13,171,804,600 0.059605 4,530,694,737 7 8,093,825,442 158,128,912,219 0.4523 71,529,489,365 0.058528 9,254,915,759 0.037253 2,664,681,128 8 22,830,498,227 135,298,413,992 0.4039 54,644,760,184 0.039018 5,279,133,361 0.023283 1,272,297,469 9 57,464,196,631 77,834,217,361 0.3606 28,067,799,067 0.026012 2,024,646,613 0.014552 408,440,233 10 96,252,345,985 18,418,128,624 0.3220 5,930,144,485 0.017342 319,398,529 0.009095 53,934,350 56,133,605,753 182,710,591,609 201,797,959,717 Present Value Kriteria Nilai Satuan NPV 56,133,605,753 Rupiah IRR 20.93 Persen BC rasio 1.19 _ BEP 7,367 Jumlah produk PBP 1.80 Tahun Lampiran 25 Jenis dan jumlah input lain di luar bahan baku dan tenaga kerja pada industri isoeugenol No Jenis biaya Biayatahun Rupiah A Biaya Tetap 1. Administrasi dan Pemasaran 36.000.000 2. Penyusutan 528.002.500 3. Pemeliharaan 246.128.750 4. Asuransi 1.897.525 5. Riset dan Pengembangan RD 15.000.000 Sub Total 827.028.775 B Biaya Variabel 1. Bahan Pembantu 67.962.240 2. Kemasan 579.000.000 3. Bahan Bakar 168.000.000 Sub Total 814.962.240 TOTAL 1.641.991.015 1 1 1 Lampiran 26 Perhitungan nilai tambah industri isoeugenol pada harga bahan baku Rp 180.000,-; Rp 190.000,- dan Rp 200.000,- per kg No Variabel Perhitungan Nilai I Output, input dan harga : 1. Output kgth a 1.157.280 1.157.280 1.157.280 2. Bahan baku kgth b 1.164.000 1.164.000 1.164.000 3. Tenaga kerja HOKth c 8.400 8.400 8.400 4. Faktor konversi d = ab 0,9942268 0,994227 0,9942268 5. Koefisien tenaga kerja HOKkg e = cb 0,01 0,01 0,01 6. Harga output Rpkg f 328.500 328.500 328.500 7. Upah rata-rata tenaga kerja RpHOK g 61.929 61.929 61.929 II Pendapatan dan keuntungan 8. Harga bahan baku Rpkg h 180.000 190.000 200.000 9. Sumbangan input lain Rpkg i 1.411 1.411 1.411 10. Nilai output Rpkg j = dxf 326.604 326.604 326.604 11 a. Nilai tambah Rpkg k = j-i-h 145.193 135.193 125.193 b. Rasio nilai tambah l = kj x 100 44,46 41,39 38,33 12 a. Imbalan tenaga kerja Rpkg m = exg 447,00 447,00 447,00 b. Bagian tenaga kerja n = mk x 100 0,31 0,33 0,36 13 a. Keuntungan Rpkg o = k-m 144.746 134.746 124.746 b. Tingkat keuntungan p = oj x 100 44,32 41,26 38,19 III Balas Jasa Pemilik Faktor Produksi Marjin Keuntungan Rpkg q = j-h 146.604 136.604 126.604 a. Pendapatan tenaga kerja r = mq x 100 0,30 0,33 0,35 b. Sumbangan input lain s = iq x 100 0,96 1,03 1,11 c. Keuntungan perusahaan t = oq x 100 98,73 98,64 98,53 139 Lampiran 27 Biaya investasi industri vanilin berbahan dasar eugenol MDC No Uraian Jumlah Unit Harga unit Jumlah Total biaya Rupiah Rupiah Rupiah 1 Pembelian tanah dan survey 2500 m 2 100.000 250.000.000 Sub total I 250.000.000 2 Bangunan dan pekerjaan sipil 1. Kantor 50 m 2 1.000.000 50.000.000

2. Bangunan produksi

250 m 2 1.000.000 250.000.000

3. Bangunan laboratorium 35

m 2 1.100.000 38.500.000

4. Gudang

50 m 2 900.000 45.000.000

5. Mushola

35 m 2 900.000 31.500.000

6. Pagar 100

m 50.000 5.000.000

7. Area parkir

100 m 2 75.000 7.500.000

8. Pos satpam 15

m 2 500.000 7.500.000

9. Jalan

150 m 2 100.000 15.000.000 Sub total II 450.000.000 3 Alat dan mesin proses 1. Reaktor 5 unit 450.000.000 2.250.000.000 2. Dekanter 2 unit 30.000.000 60.000.000 3. Vaporizer 3 unit 45.000.000 135.000.000 4. Heater 2 unit 30.000.000 60.000.000 5. Cooler 2 unit 40.000.000 80.000.000 6. Mixer 6 unit 15.000.000 90.000.000 7. Pompa 10 unit 6.000.000 60.000.000 6. Peralatan laboratorium 3 paket 15.000.000 45.000.000 Sub total III 2.780.000.000 4 Peralatan umum 1. Generator 1 unit 15.000.000 15.000.000

2. Instalasi pemadam kebakaran 2

unit 7.500.000 15.000.000

3. Instalasi listrik

2 paket 4.000.000 8.000.000

4. Instalasi pipa

3 paket 3.500.000 10.500.000 5. Pompa air 2 unit 3.500.000 7.000.000 6. Tangki bahan bakar 2 unit 5.000.000 10.000.000 Sub total IV 65.500.000 5 Peralatan kantor 1. Meja kantor 4 unit 250.000 1.000.000 2. Kursi 10 unit 100.000 1.000.000 3. Meja dan kursi tamu 1 unit 2.000.000 2.000.000 4. Almari 3 unit 850.000 2.550.000 5. Komputer 3 unit 3.500.000 10.500.000 6. Printer 3 unit 450.000 1.350.000 7. Whiteboard 2 unit 75.000 150.000 8. AC 3 unit 4.000.000 12.000.000 Sub total V 30.550.000 140 Lampiran 28 Biaya investasi industri vanilin berbahan dasar eugenol MDC Lanjutan No Uraian Jumlah Unit Harga unit Jumlah Total biaya Rupiah Rupiah Rupiah 6 Kendaraan 1. Mobil operasi 1 unit 130.000.000 130.000.000 2. Mobil bak terbuka 1 unit 65.000.000 65.000.000 3. Sepeda motor 2 unit 12.000.000 24.000.000 Sub total VI 219.000.000 7 Pra Operasi 1. Studi Kelayakan 1 paket 85.000.000 85.000.000 2. Instalasi mesin alat 1 paket 200.000.000 200.000.000 3. Perizinan 1 paket 50.000.000 50.000.000 Sub total VII 335.000.000 Total Investasi 4.130.050.000 Lampiran 29 Biaya bahan baku, bahan pembantu dan utilitas industri vanilin No Uraian Kebutuhan Unit Hargaunit Biayabulan Biayatahun Rupiah Rupiah Rupiah 1 Bahan baku Eugenol 3.880 kghari 180.000 17.460.000.000 209.520.000.000 Sub total I 209.520.000.000 2 Bahan pembantu HCl 2.704 kghari 7.000 18.928.000 227.136.000 Etanol 18,56 kghari 4.500 83.520 1.002.240 RhCl 3 . 3H 2 O 7,44 kghari 750.000 5.580.000 66.960.000 KOH 10.777,6 kghari 7.000 75.443.200 905.318.400 DMSO 165.758,4 kghari 7.000 1.160.308.800 13.923.705.600 Nitrobenzene 360.043,2 kghari 7.000 2.520.302.400 30.243.628.800 NaHSO 3 720 kghari 7.500 5.400.000 64.800.000 H 2 SO 4 678,4 kghari 7.000 4.748.800 56.985.600 Dietil eter 592 kghari 7.000 4.144.000 49.728.000 Sub total II 45.539.264.640 3 Bahan kemasan 1. Kaleng aluminium 2.848 buahhari 450 32.040.000 384.480.000 Sub total III 384.480.000 4 Utilitas 1. Biaya administrasi dan pemasaran 2 paket 2.000.000 4.000.000 48.000.000 3. Biaya bahan bakar solar dan bensin 1 paket 5.500.000 5.500.000 66.000.000 4. Biaya listrik kWH 5.000 kWH 5.000 25.000.000 300.000.000 Sub total IV 414.000.000 Total 255.857.744.640 1 1 5 Lampiran 30 Biaya tenaga kerja tak langsung dan tenaga kerja langsung pada industri vanillin No Uraian Jumlah Gajiorangbulan Gajibulan Biayatahun Rupiah Rupiah Rupiah 1 Tenaga kerja tak langsung

1. Direktur

1 7.000.000 7.000.000 84.000.000

2. Manager

2 5.000.000 10.000.000 120.000.000

3. Supervisor

3 2.500.000 7.500.000 90.000.000

4. Staf administrasi

3 900.000 2.700.000 32.400.000

5. Satpam

3 750.000 2.250.000 27.000.000

6. Pembantu umum

2 650.000 1.300.000 15.600.000 Sub Total 14 369.000.000 2 Tenaga kerja langsung 1. Operator 7 1.150.000 8.050.000 96.600.000 2. Pekerja 7 650.000 4.550.000 54.600.000 Sub Total 14 151.200.000 Total 520.200.000 6 Lampiran 31 Biaya tetap dan biaya variabel industri vanilin berbahan dasar eugenol MDC 1 2 3 4 5 6 7 8 9 10 A Biaya Tetap 1 Tenaga Kerja Tak Langsung 369,000,000 387,450,000 406,822,500 427,163,625 448,521,806 470,947,897 494,495,291 519,220,056 545,181,059 572,440,112 2 Administrasi dan Pemasaran 48,000,000 50,400,000 52,920,000 55,566,000 58,344,300 61,261,515 64,324,591 67,540,820 70,917,861 74,463,754 3 Penyusutan 528,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 4 Pemeliharaan 246,128,750 251,051,325 256,072,352 261,193,799 266,417,675 271,746,028 277,180,949 282,724,568 288,379,059 294,146,640 5 Asuransi 1,897,525 1,907,013 1,916,548 1,926,130 1,935,761 1,945,440 1,955,167 1,964,943 1,974,768 1,984,641 6 Riset dan Pengembangan R D 25,000,000 26,250,000 27,562,500 28,940,625 30,387,656 31,907,039 33,502,391 35,177,511 36,936,386 38,783,205 Sub Total 1,218,028,775 910,060,838 938,296,399 967,792,679 998,609,698 1,030,810,418 1,064,460,889 1,099,630,397 1,136,391,633 1,174,820,853 B Biaya Variabel 1 Biaya Bahan baku pembantu 153,035,558,784 204,047,411,712 255,059,264,640 285,666,376,397 319,946,341,564 358,339,902,552 401,340,690,858 449,501,573,761 503,441,762,613 563,854,774,126 2 Biaya Kemasan 230,688,000 307,584,000 384,480,000 430,617,600 482,291,712 540,166,717 604,986,724 677,585,130 758,895,346 849,962,788 3 Tenaga Kerja Langsung 90,720,000 120,960,000 151,200,000 170,100,000 191,362,500 215,282,813 242,193,164 272,467,310 306,525,723 344,841,439 4 Bahan Bakar 219,600,000 292,800,000 366,000,000 411,750,000 463,218,750 521,121,094 586,261,230 659,543,884 741,986,870 834,735,229 Sub Total 153,576,566,784 204,768,755,712 255,960,944,640 286,678,843,997 321,083,214,526 359,616,473,176 402,774,131,976 451,111,170,086 505,249,170,552 565,884,313,581 Jumlah 154,794,595,559 205,678,816,550 256,899,241,039 287,646,636,676 322,081,824,224 360,647,283,594 403,838,592,865 452,210,800,483 506,385,562,185 567,059,134,434 Uraian TAHUN KE- Rupiah 1 1 7 Lampiran 32 Nilai peralatan mesin, biaya pemeliharaan, asuransi, nilai sisa dan biaya penyusutan industri vanilin 1 2 3 4 5 6 7 8 9 10 PERIZINAN,STUDI KELAYAKANINSTALASI Perizinan 50,000,000 50,000,000 Studi kelayakan 85,000,000 85,000,000 Instalasi mesin alat 200,000,000 200,000,000 Sub Total 335,000,000 335,000,000 TANAH DAN BANGUNAN Tanah 250,000,000 5,000,000 125,000 Bangunan 450,000,000 67,500,000 9,000,000 225,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 Sub Total 700,000,000 67,500,000 14,000,000 350,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 38,250,000 MESIN DAN PERALATAN Alat dan mesin proses 2,780,000,000 417,000,000 208,500,000 1,390,000 139,000,000 139,000,000 139,000,000 139,000,000 139,000,000 139,000,000 139,000,000 139,000,000 139,000,000 139,000,000 Peralatan umum 65,500,000 9,825,000 4,912,500 32,750 3,275,000 3,275,000 3,275,000 3,275,000 3,275,000 3,275,000 3,275,000 3,275,000 3,275,000 3,275,000 Peralatan kantor 30,550,000 4,582,500 2,291,250 15,275 1,527,500 1,527,500 1,527,500 1,527,500 1,527,500 1,527,500 1,527,500 1,527,500 1,527,500 1,527,500 Kendaraan 219,000,000 32,850,000 16,425,000 109,500 10,950,000 10,950,000 10,950,000 10,950,000 10,950,000 10,950,000 10,950,000 10,950,000 10,950,000 10,950,000 Sub Total 3,095,050,000 464,257,500 232,128,750 1,547,525 154,752,500 154,752,500 154,752,500 154,752,500 154,752,500 154,752,500 154,752,500 154,752,500 154,752,500 154,752,500 Jumlah 4,130,050,000 531,757,500 246,128,750 1,897,525 528,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 Biaya Penyusutan Tahun ke- Rupiah Uraian Nilai Nilai Sisa O M Asuransi Lampiran 33 Proyeksi laporan laba-rugi industri vanilin berbahan dasar eugenol MDC 1 2 3 4 5 6 7 8 9 10 Penerimaan 1. Penjualan Produk 276,670,080,000 368,893,440,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 Total Pendapatan 276,670,080,000 368,893,440,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 Pengeluaran 1. Biaya Tetap 1,218,028,775 910,060,838 938,296,399 967,792,679 998,609,698 1,030,810,418 1,064,460,889 1,099,630,397 1,136,391,633 1,174,820,853 2. Biaya Variabel 153,576,566,784 204,768,755,712 255,960,944,640 286,678,843,997 321,083,214,526 359,616,473,176 402,774,131,976 451,111,170,086 505,249,170,552 565,884,313,581 Total Pengeluaran 154,794,595,559 205,678,816,550 256,899,241,039 287,646,636,676 322,081,824,224 360,647,283,594 403,838,592,865 452,210,800,483 506,385,562,185 567,059,134,434 Laba Operasi 121,875,484,441 163,214,623,450 204,217,558,961 173,470,163,324 139,034,975,776 100,469,516,406 57,278,207,135 8,905,999,517 45,268,762,185 105,942,334,434 Pembayaran Bunga 1. Bunga Pinjaman 13,349,670,227 10,679,736,182 8,009,802,136 5,339,868,091 2,669,934,045 Total Pembayaran Bunga 13,349,670,227 10,679,736,182 8,009,802,136 5,339,868,091 2,669,934,045 Laba Sebelum Pajak 108,525,814,214 152,534,887,269 196,207,756,825 168,130,295,233 136,365,041,730 100,469,516,406 57,278,207,135 8,905,999,517 45,268,762,185 105,942,334,434 Pajak Penghasilan 32,557,744,264 45,760,466,181 58,862,327,047 50,439,088,570 40,909,512,519 30,140,854,922 17,183,462,140 2,671,799,855 13,580,628,655 31,782,700,330 Laba Bersih 75,968,069,950 106,774,421,088 137,345,429,777 117,691,206,663 95,455,529,211 70,328,661,484 40,094,744,994 6,234,199,662 31,688,133,529 74,159,634,104 Uraian TAHUN KE - Rupiah 1 1 9 Lampiran 34 Proyeksi arus kas industri vanilin berbahan dasar eugenol MDC TAHUN KE - Rupiah 1 2 3 4 5 6 7 8 9 10

A. Arus Kas

1. Laba Bersih 0 75,968,069,950 106,774,421,088 137,345,429,777 117,691,206,663 95,455,529,211 70,328,661,484 40,094,744,994 6,234,199,662 31,688,133,529 74,159,634,104 2. Penyusutan 528,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 193,002,500 3. Nilai Sisa 4. Pengembalian Modal Kerja 5. Modal Sendiri 47,677,393,668 6. Modal Pinjaman 111,247,251,891 Total Kas Masuk 158,924,645,559 76,496,072,450 106,967,423,588 137,538,432,277 117,884,209,163 95,648,531,711 70,521,663,984 40,287,747,494 6,427,202,162 31,495,131,029 73,966,631,604

B. Kas Keluar

1. Biaya Modal Tetap 4,130,050,000 2. Biaya Modal Kerja 154,794,595,559 3. Angsuran Pinjaman 0 22,249,450,378 22,249,450,378 22,249,450,378 22,249,450,378 22,249,450,378 Total Kas Keluar 158,924,645,559 22,249,450,378 22,249,450,378 22,249,450,378 22,249,450,378 22,249,450,378 Aliran Kas Bersih 0 54,246,622,072 84,717,973,210 115,288,981,899 95,634,758,785 73,399,081,333 70,521,663,984 40,287,747,494 6,427,202,162 31,495,131,029 73,966,631,604 Arus Kas Awal Tahun 0 54,246,622,072 84,717,973,210 115,288,981,899 95,634,758,785 73,399,081,333 70,521,663,984 40,287,747,494 6,427,202,162 31,495,131,029 73,966,631,604 Arus Kas Akhir Tahun 0 54,246,622,072 138,964,595,281 254,253,577,180 349,888,335,966 423,287,417,298 493,809,081,282 534,096,828,777 540,524,030,939 509,028,899,910 435,062,268,306 Uraian Lampiran 35 Perhitungan NPV, IRR, BC Ratio dan PBP industri vanilin berbahan dasar eugenol MDC Tahun Bt+Ct Akumulasi 0.12

0.5 0.6

Rp. Rp. DF PV Rp. DF PV Rp. DF PV Rp. 158,924,645,559 158,924,645,559 1 158,924,645,559 1 158,924,645,559 1 158,924,645,559 1 54,246,622,072 104,678,023,487 0.8929 93,467,007,172 0.666667 69,785,383,884 0.625000 58,416,879,482 2 84,717,973,210 19,960,050,278 0.7972 15,912,152,081 0.444444 8,871,124,586 0.390625 6,215,684,407 3 115,288,981,899 95,328,931,621 0.7118 67,855,133,528 0.296296 28,245,581,124 0.244141 16,566,194,709 4 95,634,758,785 190,963,690,407 0.6355 121,357,425,253 0.197531 37,721,248,730 0.152588 18,517,673,531 5 73,399,081,333 264,362,771,739 0.5674 149,999,436,685 0.131687 34,813,140,322 0.095367 14,305,061,024 6 70,521,663,984 334,884,435,723 0.5066 169,662,877,135 0.087791 29,400,005,331 0.059605 10,112,695,523 7 40,287,747,494 375,172,183,218 0.4523 169,708,842,695 0.058528 21,957,951,281 0.037253 6,322,147,053 8 6,427,202,162 381,599,385,380 0.4039 154,121,591,562 0.039018 14,889,413,604 0.023283 3,588,422,936 9 31,495,131,029 350,104,254,351 0.3606 126,251,103,908 0.026012 9,107,015,101 0.014552 1,837,195,362 10 73,966,631,604 276,137,622,747 0.3220 88,908,924,140 0.017342 4,788,648,846 0.009095 808,621,954 779,561,530,094 56,658,149,691 151,499,197,356 Present Value Kriteria Nilai Satuan NPV 779,561,530,094 Rupiah IRR 47.43 Persen BC rasio 3.91 _ BEP 5,053 Jumlah produk PBP 1.25 Tahun 1 2 1 Lampiran 36 Proyeksi laporan laba-rugi industri vanilin pada tingkat suku bunga 16 1 2 3 4 5 6 7 8 9 10 A. Penerimaan 1. Penjualan Produk 276,670,080,000 368,893,440,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 Total Pendapatan 276,670,080,000 368,893,440,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 461,116,800,000 B. Pengeluaran 1. Biaya Tetap 1,218,028,775 910,060,838 938,296,399 967,792,679 998,609,698 1,030,810,418 1,064,460,889 1,099,630,397 1,136,391,633 1,174,820,853 2. Biaya Variabel 153,576,566,784 204,768,755,712 255,960,944,640 286,678,843,997 321,083,214,526 359,616,473,176 402,774,131,976 451,111,170,086 505,249,170,552 565,884,313,581 Total Pengeluaran 154,794,595,559 205,678,816,550 256,899,241,039 287,646,636,676 322,081,824,224 360,647,283,594 403,838,592,865 452,210,800,483 506,385,562,185 567,059,134,434 Laba Operasi 121,875,484,441 163,214,623,450 204,217,558,961 173,470,163,324 139,034,975,776 100,469,516,406 57,278,207,135 8,905,999,517 45,268,762,185 105,942,334,434 C. Pembayaran Bunga 1. Bunga Pinjaman 17,799,560,303 14,239,648,242 10,679,736,182 7,119,824,121 3,559,912,061 Total Pembayaran Bunga 17,799,560,303 14,239,648,242 10,679,736,182 7,119,824,121 3,559,912,061 Laba Sebelum Pajak 104,075,924,138 148,974,975,208 193,537,822,779 166,350,339,203 135,475,063,715 100,469,516,406 57,278,207,135 8,905,999,517 45,268,762,185 105,942,334,434 Pajak Penghasilan 31,222,777,242 44,692,492,562 58,061,346,834 49,905,101,761 40,642,519,114 30,140,854,922 17,183,462,140 2,671,799,855 13,580,628,655 31,782,700,330 Laba Bersih 72,853,146,897 104,282,482,646 135,476,475,945 116,445,237,442 94,832,544,600 70,328,661,484 40,094,744,994 6,234,199,662 31,688,133,529 74,159,634,104 Uraian TAHUN KE - Rupiah 2 2 Lampiran 37 Proyeksi arus kas industri vanilin pada tingkat suku bunga 16 TAHUN KE - Rupiah 1 2 3 4 5 6 7 8 9 10

A. Arus Kas