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Informacin del Estado de Ganancias y Prdidas

en miles de Nuevos Soles
DROKASA

FARMINDUSTRIA

PHARMALAB

AGROKASA

al 31/Dic/03

al 31/Dic/04

al 31/Dic/03

al 31/Dic/04

al 31/Dic/03

al 31/Dic/04

al 31/Dic/03

al 31/Dic/04

235,344

218,343

93,063

90,621

26,437

31,057

125,160

120,418

49,003

44,539

49,862

51,792

17,040

21,462

44,237

51,760

12,277

10,947

8,135

10,510

-5,630

2,578

37,501

36,598

3,131

4,714

2,883

6,288

-4,125

1,965

27,264

21,359

al 31/Dic/03

al 31/Dic/04

al 31/Dic/03

al 31/Dic/04

al 31/Dic/03

al 31/Dic/04

92,102

70,120

51,012

49,533

19,674

12,555

56,862

59,914

72,811

71,839

47,887

47,685

3,676

2,192

144,805

129,742

164,913

141,959

98,899

97,218

23,350

14,747

201,667

189,656

70,547

Ventas Netas
Utilidad Bruta
Utilidad Operativa
Utilidad Neta

Nota: Cifras del 2003 y 2004 auditadas y ajustadas a diciembre 2004.

Informacin del Balance General

en miles de Nuevos Soles
DROKASA
Activos Corrientes
Activos No Corrientes
Total Activos

FARMINDUSTRIA

PHARMALAB

AGROKASA
al 31/Dic/03

al 31/Dic/04

Pasivos Corrientes
Pasivos No Corrientes
Total Pasivos

56,984

28,436

26,073

17,822

7,261

41,374

25,804

42,314

35,955

21,246

18,425

323

316

49,706

32,890

112,861

92,939

49,682

44,498

18,145

7,577

91,080

58,694

Patrimonio Neto
Total Pasivos y Patrimonio

52,052

49,020

49,217

52,720

5,205

7,170

110,587

130,962

164,913

141,959

98,899

97,218

23,350

14,747

201,667

189,656

Nota: Cifras del 2003 y 2004 auditadas y ajustadas a diciembre 2004.

Indicadores Financieros
DROKASA

FARMINDUSTRIA

PHARMALAB

AGROKASA

al 31/Dic/03

al 31/Dic/04

al 31/Dic/03

al 31/Dic/04

al 31/Dic/03

al 31/Dic/04

al 31/Dic/03

al 31/Dic/04

Indices de Liquidez
Liquidez general

1.3

1.2

1.8

1.9

1.1

1.7

1.4

2.3

Indices de Gestin
Margen Bruto
Margen Operativo

20.8%
5.2%

20.4%
5.0%

53.6%
8.7%

57.2%
11.6%

64.5%
-21.3%

69.1%
8.3%

35.3%
30.0%

43.0%
30.4%

2.2
1.2

1.9
1.0

1.0
1.0

0.8
0.8

3.5
n.a.

1.1
n.a.

0.8
0.5

0.4
0.3

6.0%
1.9%

9.6%
3.3%

5.9%
2.9%

11.9%
6.5%

-79.3%
-17.7%

27.4%
13.3%

24.7%
13.5%

16.3%
11.3%

Indices de Solvencia
Endeudamiento Patrimonial
Endeudamiento Largo Plazo
Rentabilidad
ROE
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Evolucin de las Ventas Totales Anuales de los Originadores

en miles de Dlares
2001

2002

2003

2004

Sociedad Agrcola Drokasa S.A.

Uvas
Esprragos
Total

3,258
10,933
14,191

8,320
20,942
29,262

10,048
24,426
34,474

7,484
29,218
34,820

Drokasa Per S.A. (1)

a Terceros

51,283

54,426

58,567

64,281

Farmindustria S.A.

a Afiliadas
Maquila a Terceros
Maquila a Pharmalab
Total

18,828
411
961
20,200

19,739
598
1,897
22,233

21,647
477
3,487
25,611

23,310
501
3,809
27,620

Pharmalab S.A.

a Afiliadas
a terceros
Total

2,631
6,046
8,677

4,544
3,710
8,254

7,282
0
7,282

9,466
0
9,015

Ventas Originadores (2)

71,931

87,995

93,519

99,603

Ventas Base (3)

71,520

87,398

93,041

99,101

Nota:
Informacin de los aos 2001, 2002, 2003 y 2004 obtenida de los balances auditados.
(1) La informacin de Drokasa ha sido ajustada para eliminar las ventas de licores, negocio que fue escindido en Junio del 2004.
(2) Venta Originadores es igual a las ventas de Agrokasa ms Drokasa, Farmindustria Maquila a Terceros y ventas de Pharmalab a Terceros.
(3) Ventas Base es igual a Ventas Originadores menos Farmindustria Maquila a Terceros.

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Flujo Anual Esperado del Patrimonio Fideicometido

en US$000
Ao 1
Ventas
Asignacin Cuentas Recolectoras
Exc. de Libre Disposicin

Ao 2

Ao 3

Ao 4

Ao 5

Ao 6

112,508
31,275
81,233

115,638
31,275
84,363

118,016
31,275
86,741

120,935
31,275
89,660

124,819
31,275
93,544

128,803
31,275
97,528

Asignacin Cuentas Recolectoras

Gastos de Operacin

31,275
86

31,275
86

31,275
86

31,275
86

31,275
86

31,275
86

Flujo de Operacin
Asignacin de Reserva Comisin IFC

31,190
216

31,190
184

31,190
149

31,190
111

31,190
71

31,190
27

Excedente Disponible para Asignacin Cuota Bono

Asignacin Cuota Bono

30,974
5,213

31,006
5,213

31,041
5,213

31,078
5,213

31,119
5,213

31,163
5,213

Excedente para Cuenta de Reserva Garanta

Asignacin Reserva - Garanta

25,761
0

25,794
0

25,828
0

25,866
0

25,906
0

25,950
0

Excedente para Aceleracin

Asignacin Reserva - Aceleracin

25,761
0

25,794
0

25,828
0

25,866
0

25,906
0

25,950
0

Excedente para Covenants

Asignacin Reserva - Covenants

25,761
0

25,794
0

25,828
0

25,866
0

25,906
0

25,950
0

Exc. de Libre Disposicin

25,761

25,794

25,828

25,866

25,906

25,950

6.00x
5.98x
5.94x

6.00x
5.98x
5.95x

6.00x
5.98x
5.96x

6.00x
5.98x
5.96x

6.00x
5.98x
5.97x

6.00x
5.98x
5.98x

Indices de Cobertura de Cuota

Asignacin Cuentas Recolectoras / Cuota Bono
Flujo de Operacin / Cuota Bono
Excedente Disponible para Asignacin Cuota Bono / Cuota Bono

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Distribucin de Ventas por UNE 2004

70,000
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2'C

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60,000

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Evolucin de Ventas de Farmindustria

Distribucin de Ventas por UNE y Lnea 2004

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Milagros Gonzales
Auditora General
Fabiola Ferrer
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Jorge Aguayo
Gerente Comercial
Farmacia

Jos Luna
Sub-Gerente de Soporte de
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Jorge Guardia
Gerente de Marketing
Farmacia

Eduardo Linares
Gerente de Logstica y Distribucin

Miguel Angel Saavedra

Gerente de Desarrollo de Negocios
Farmacia

Max Bromberg
Gerente de Finanzas

Lilly Vsquez
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Luis Zamora
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Agustn Gamarra
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Introduccin
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Exportaciones Agrcolas Peruanas

(Miles de US$ FOB)
Razn

Var.

Rank.
2004

Rank.
2003

CAMPOSOL / SOL PRODUCE

19,546

24,465

45,856

62,020

35.25%

PERALES HUANCARUNA

40,145

42,101

37,697

51,938

37.78%

SOCIEDAD AGRICOLA VIRU

13,290

19,166

31,736

38,407

21.02%

ALICORP

21,114

24,007

27,194

35,878

31.93%

COMERCIO & CIA

15,343

15,725

17,037

27,966

64.15%

CIA INTERNACIONAL DEL CAF

14,505

15,557

14,537

26,762

84.10%

10

PROCESADORA DEL SUR

8,513

13,979

12,942

25,443

96.59%

SOCIEDAD AGRICOLA DROKASA

10,056

18,198

22,382

25,046

11.90%

DANPER TRUJILLO

12,184

13,911

17,788

24,472

37.58%

10

AGRO INDUSTRIAS BACKUS

23,351

21,492

18,770

18,723

-0.25%

178,048

208,601

245,939

336,656

36.89%

2001

Social

SUB-TOTAL
TOTAL SECTOR
EXPORTACIONES TOTALES

2002

2003

644,548

769,429

6,956,240

7,582,310

2004

n/d

n/d

n/d

8,863,269

12,370,097

39.57%

Fuente: Sunat
Fuente:
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31 de diciembre de 2003
31 de diciembre de 2004
Directa
Indirecta
Total
Directa
Indirecta
Total
Drokasa Per S.A.
97.22%
2.78%
100.00%
97.22%
2.78%
100.00%
Farmindustria S.A.
99.99%
0.01%
100.00%
99.99%
0.01%
100.00%
Agrokasa
34.42%
65.58%
100.00%
34.42%
65.58%
100.00%
Pharmalab
99.50%
0.50%
100.00%
99.50%
0.50%
100.00%
Nota: se entiende por participacin indirecta a aquella que mantiene Corporacin Drokasa S.A. a travs de alguna de sus
empresas subsidiarias.
< /

# /

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G(

Accionista
Sucesin Adrin Kahan Maldonado
Hory Chlimper Halfin e hijos
Laura Valera viuda de Kahan e hijo
Roxana Labarthe Proao e hijo
Globapharm Limited
Gustavo Caillaux Angulo
Amazonas Holdings
Total
Nota: El cuadro presenta la participacin resumida por grupo de familias.

(+

Participacin
22.34%
22.34%
12.08%
10.26%
17.25%
7.86%
7.86%
100.00%

Con relacin a la Poltica de Dividendos de Corporacin Drokasa S.A., mediante Junta General de Accionistas de Corporacin Drokasa
S.A., celebrada con fecha 15 de diciembre de 2004 -empresa holding de los ORIGINADORES, se aprob la Poltica de Dividendos de
dicha Sociedad, la misma que regir a partir del ejercicio 2005.
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