EVALUACION UNACEM vf.2

Unión Andina de Cementos S.A.A.
Estado separado de resultados

CUENTA (En Miles de S/) 2011 2012 2013 2014 2015
Ingresos de Actividades Ordinarias 1,513,521 1,725,896 1,775,193 1,882,982 1,949,355
Costo de Ventas -851,849 -994,207 -1,011,756 -1,030,712 -1,109,774
Ganancia (Pérdida) Bruta 661,672 731,689 763,437 852,270 839,581
Gastos de Ventas y Distribución -79,950 -82,517 -89,889 -106,098 -93,629
Gastos de Administración -160,334 -171,125 -158,536 -175,645 -154,422
Otros Ingresos Operativos 55,753 41,798 32,866 34,122 181,364
Otros Gastos Operativos -20,398 -35,168 -24,982 -13,260 -21,784
Ganancia (Pérdida) Operativa 456,743 484,677 522,896 591,389 751,110
Ingresos Financieros 10,212 16,956 7,638 3,610 9,359
Gastos Financieros -64,838 -67,125 -90,835 -153,060 -230,179
Diferencias de Cambio Neto 34,770 75,973 -138,260 -122,393 -379,372
Ganancia (Pérdida) antes de Impuestos 436,887 510,481 301,439 319,546 150,918
Ingreso (Gasto) por Impuesto -128,506 -152,141 -96,697 -29,433 -20,332
Ganancia (Pérdida) Neta del Ejercicio 308,381 358,340 204,742 290,113 130,586
Tasa de Impuesto Efectivo 29.4% 29.8% 32.1% 9.2% 13.5%

20% 21% 12% 15% 7%
Deprecición registrada en el Costo de Ventas (DA) 85,972.00 129,228.00 172,022.00 175,307.00
Costo de ventas sin DA 908,235.00 882,528.00 858,690.00 934,467.00
EBITDA 592,435 672,564 773,995 937,280

14% 15% 21%
2016 2017 2018 2028 2011 2012
1,865,100 1,862,651 1,968,994 3,180,202 I 100% 100%
-1,083,335 -1,140,441 -1,222,177 -1,973,988 II -56% -58%
781,765 722,210 746,817 1,206,214 44% 42%
-96,859 -57,472 -66,852 -107,975 III -5% -5%
-197,299 -206,343 -189,492 -306,056 IV -11% -10%
256,913 303,538 163,746 226,390 V 4% 2%
-30,121 -52,620 -37,455 -35,495 VI -1% -2%
714,399 709,313 616,764 983,078 30% 28%
2,550 3,953 14,285 10,125 VIII 1% 1%
-228,356 -225,595 -246,900 -40,612 IX -4% -4%
-17,639 88,042 -60,449 0 X 2% 4%
470,954 575,713 323,700 952,591 29% 30%
-158,726 -109,555 -81,484 -251,496 -8% -9%
312,228 466,158 242,216 701,096 20% 21%
33.7% 19.0% 25.2% 26.4% VII

17% 25% 12%
188,801.00 212,541.00 213,929.00 223,814 2011 2012
894,534.00 927,900.00 1,008,248.00 1,750,174 -53%
916,018 965,624 853,665 1,235,284

-2% 5% -12% 4%
Análisis Vertical
2013 2014 2015 2016 2017 2018 2012
100% 100% 100% 100% 100% 100% 14.0%
-57% -55% -57% -58% -61% -62% 16.7%
43% 45% 43% 42% 39% 38% 10.6%
-5% -6% -5% -5% -3% -3% 3.2%
-9% -9% -8% -11% -11% -9.6% 6.7%
2% 2% 9% 14% 16% 8% -25.0%
-1% -1% -1% -2% -3% -2% 72.4%
29% 31% 39% 38% 38% 31% 6.1%
0% 0% 0% 0% 0% 1% 66.0%
-5% -8% -12% -12% -12% -13% 3.5%
-8% -6% -19% -1% 5% -3% 118.5%
17% 17% 8% 25% 31% 16% 16.8%
-5% -2% -1% -9% -6% -4% 18.4%
12% 15% 7% 17% 25% 12% 16.2%
2013 2014 2015 2016 2017 2018 2012

-50% -46% -48% -48% -50% -51% -
Análisis Horizontal
2013 2014 2015 2016 2017 2018
2.9% 6.1% 3.5% -4.3% -0.1% 5.7%
1.8% 1.9% 7.7% -2.4% 5.3% 7.2%
4.3% 11.6% -1.5% -6.9% -7.6% 3.4%
8.9% 18.0% -11.8% 3.4% -40.7% 16.3%
-7.4% 10.8% -12.1% 27.8% 4.6% -8.2%
-21.4% 3.8% 431.5% 41.7% 18.1% -46.1%
-29.0% -46.9% 64.3% 38.3% 74.7% -28.8%
7.9% 13.1% 27.0% -4.9% -0.7% -13.0%
-55.0% -52.7% 159.3% -72.8% 55.0% 261.4%
35.3% 68.5% 50.4% -0.8% -1.2% 9.4%
-282.0% -11.5% 210.0% -95.4% -599.1% -168.7%
-41.0% 6.0% -52.8% 212.1% 22.2% -43.8%
-36.4% -69.6% -30.9% 680.7% -31.0% -25.6%
-42.9% 41.7% -55.0% 139.1% 49.3% -48.0%
2013 2014 2015 2016 2017 2018

-2.8% -2.7% 8.8% -4.3% 3.7% 8.7%
CAGR
2011- 2018
3.8%
5.3%
1.7%
-2.5%
2.4%
16.6%
9.1%
4.4%
4.9%
21.0%
-208.2%
-4.2%
-6.3%
-3.4%
CAGR
2012- 2018
1.8%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Estado separado de situación financiera
CUENTA (En Miles de S/) 2011 2012 2013
Activos
Activos Corrientes
Efectivo y Equivalentes al Efectivo 63,473 74,189 196,750
Cuentas por cobrar comerciales y otras cuentas por cobra 141,606 160,012 234,857
Inventarios 353,114 419,775 497,835
Otros Activos no financieros 35,578 9,277 11,204
Total Activos Corrientes 593,941 663,286 940,646
Inversiones en subsidiarias, negocios conjuntos y asociad 1,503,326 1,558,675 1,645,786
Cuentas por cobrar comerciales y otras cuentas por cobra 11,700 7,474 29,170
Propiedades, Planta y Equipo (neto) 3,346,367 3,605,739 3,706,550
Activos intangibles distintos de la plusvalia 63,164 67,247 68,072
Activos diferidos por desbroce, neto 0 0 0
Plusvalía 9,745 9,745 9,745
Total Activos No Corrientes 5,038,778 5,381,266 5,602,138
TOTAL DE ACTIVOS 5,632,719 6,044,552 6,542,784
Obligaciones financieras 537,070 873,485 693,406
Cuentas por pagar comerciales y otras cuentas por pagar 211,230 234,606 209,148
Ingresos diferidos 72,173 7,262 9,932
Otras provisiones 37,321 25,604 15,814
Pasivos por Impuestos a las Ganancias 14,499 0 0
Total Pasivos Corrientes 872,293 1,140,957 928,300
Otros Pasivos Financieros 1,228,313 1,069,495 1,627,954
Otras provisiones 10,590 11,062 13,663
Pasivos por impuestos diferidos 488,646 513,232 537,303
Otros pasivos no financieros / Instrum, financ. Derivados 9,328 7,159 5,557
Total Pasivos No Corrientes 1,736,877 1,613,703 2,196,360
TOTAL PASIVOS 2,609,170 2,754,660 3,124,660
Capital Emitido 1,499,023 1,646,503 1,646,503
Otras Reservas de Capital 213,749 249,728 270,203
Resultados Acumulados 1,317,306 1,398,672 1,503,096
Otras Reservas de Patrimonio -6,529 -5,011 -1,678
TOTAL PATRIMONIO 3,023,549 3,289,892 3,418,124
TOTAL PASIVO Y PATRIMONIO 5,632,719 6,044,552 6,542,784
0 0 0
2014 2015 2016 2017 2018
60,951 131,043 54,481 97,704 29,956

268,994 289,679 321,594 461,294 378,300 B
602,529 666,608 626,709 533,321 572,839 C
8,053 7,878 7,173 8,145 10,939 D
940,527 1,095,208 1,009,957 1,100,464 992,034
3,257,994 3,260,757 3,262,977 3,289,323 3,390,222 E
48,456 47,069 112,466 104,372 186,014 F
3,905,181 4,025,405 3,989,548 3,894,622 3,838,524 AF1
68,849 70,190 69,423 44,353 31,515 AI1-AI2
0 0 127,132 122,977 118,100 G
9,745 9,745 9,745 9,745 9,745 AI2
7,426,177 7,544,829 7,571,291 7,465,392 7,574,120 5%
8,366,704 8,640,037 8,581,248 8,565,856 8,566,154
573,293 486,154 750,098 486,064 224,163 H
233,828 252,790 230,140 261,827 314,507 I
98,725 89,519 16,309 15,349 11,410 J
20,671 1,562 16,356 25,719 21,100 K
0 0 0 43,075 0 L
926,517 830,025 1,012,903 832,034 571,180
3,313,373 3,633,384 3,112,633 2,906,854 3,024,898 M
13,492 13,044 13,023 15,778 35,124 O
472,536 479,660 531,844 524,734 495,928 P
6,940 6,650 10,492 9,845 22,720 Q
3,816,055 4,140,417 3,672,192 3,457,211 3,578,670
4,742,572 4,970,442 4,685,095 4,289,245 4,149,850
1,646,503 1,646,503 1,646,503 1,646,503 1,646,503
299,214 312,273 329,301 329,301 329,301
1,678,579 1,710,488 1,920,070 2,300,609 2,457,207
-164 331 279 198 -16707
3,624,132 3,669,595 3,896,153 4,276,611 4,416,304
8,366,704 8,640,037 8,581,248 8,565,856 8,566,154
0 0 0 0 0
CAGR
2011 - 2018
-10%
15%
7%
-16%
8%
12% 0% 0% 1% 3%
48%
2%
-9%
0%
0%
6%
6%
-12%
6%
-23%
-8%
-6%
14%
19%
0%
14%
11%
7%
1%
6%
9%
14%
6%
6%
ACTIVO CORRIENTE
Cuentas por cobrar comerciales y diversas, neto 2011 2012 2013
Cuentas por cobrar comerciales 67,661 73,388 48,879
Cuentas por cobrar a relacionadas 26,464 42,982 66,506
Reclamos a terceros 4,178 1,614 45,026
Préstamos al personal 3,882 1,633 6,355
Anticipos a proveedores 13,847 14,480 13,765
Instrumentos financieros derivados 550 3,399 772
Otras cuentas por cobrar 10,982 4,443 3,839
Reclamos a la Administración Tributaria 14,092 17,597 0
Pago a cuenta del impuesto a la renta 579 51,399
Cobranza dudosa -50 -103 -1,684
Total 141,606 160,012 234,857
Inventarios 2011 2012 2013

Productos terminado 5,666 5,705 10,486
Productos en proceso 114,420 88,617 139,277
Materia prima y auxiliares 73,150 104,987 127,844
Envases y embalajes 38,660 23,087 44,510
Repuestos y suministros 90,350 96,407 141,381
Inventarios por recibir 30,868 100,972 34,337
Estimación para desvalorización de inventarios
Total 353,114 419,775 497,835
ACTIVO NO CORRIENTE
Inversiones en subsidiarias y otras 2011 2012 2013
Inversiones Imbabura S.A. 0 0 0
Skanon Investments Inc. 834,492 863,393 952,514
Compañía Eléctrica El Platanal S.A. 567,829 567,829 567,829
Cementos Portland S.A.C. 0 0 0
Inversiones en Concreto y Afines S.A. 59,714 67,036 67,036
Transportes Lurín S.A. 43,895 63,688 63,937
Staten Island Co. LLC
Prefabricados Andinos S.A. 0
Prefabricados Andinos Perú S.A.C. 17,527 17,527 17,527
Minera Adelaida S.A. 1,652 1,902 2,053
Depósito Aduanero Conchán S.A. 63 63 63
Generación Eléctrica de Atocongo S.A. 125 125 125
Ferrocarril Central Andino S.A. 5,617 5,617 5,617
Otras 220 220 225
Provisión por desvalorización de inversiones -27,808 -28,725 -31,140
Total 1,503,326 1,558,675 1,645,786
Cuentas por cobrar comerciales y otras cuentas por cobra 2011 2012 2013
Cuentas por cobrar comerciales 454 344
Cuentas por cobrar relacionadas
Reclamos a terceros
Anticipos a proveedores 11,700 7,020 4,680
Préstamos al personal
Reclamos a la Administración Tributaria 24,146
Total 11,700 7,474 29,170
PASIVO CORRIENTE Y NO CORRIENTE
CORRIENTE
Cuentas por pagar comerciales y diversas 2011 2012 2013
Cuentas por pagar comerciales (b) 106,195 164,776 121,109
Cuentas por pagar a relacionadas, nota 28© 59,539 33,053 44,987
Intereses por pagar notas 15(c) y 15(m) 13,486 13,327 16,391
Impuesto general a las ventas por pagar 7,228 7,846 -
Remuneraciones y vacaciones por pagar 14,963 5,071 13,914
Remuneración del Directorio por pagar 4,945 2,934 1,919
Dividendos por pagar 10 - 28
Otras cuentas por pagar 4,864 7,599 10,800
Total 211,230 234,606 209,148
CORRIENTE
Otras provisiones 2011 2012 2013
Participaciones de los trabajadores 32,540 23,549 14,384
Compensación por tiempo de servicios 831 1,141 1,093
Provisión por cierre de carteras 3,950 914 337
Total 37,321 25,604 15,814
H CORRIENTE
Obligaciones financieras 2011 2012 2013
Cesión de pagos 0
Pagarés bancarios 396,016 532,476 266,766
Bonos y deuda con entidades bancarias a largo plazo 141,054 341,009 426,640
Total 537,070 873,485 693,406
Pagarés bancarios - Saldo por acreedor (corriente y no 2011 2012 2013

corriente)
Citibank NA New York 258,466
banco Santander Uruguay 0
ITAU UNIBANCO SA 0
BBVA Banco Continental 170,970
Santander Overseas bank Inc 111,840
Banco ITAU BBA SA 83,376
banco de Crédito de Miami 50,328
Bank of Nova Scotia New York 41,940
Banco ITAU BBA SA 0
Scotiabank Perú SA 0
Total 716,920
Bonos corporativos (corriente y no corriente) 2011 2012 2013

Bonos del exterior - - -
Primera y segunda emisión del Segundo programa 440,000 385,000 180,000
Primera y tercera emisión del Primer programa 270,000
Primera y tercera emisión del Primer programa 94,395 89,285 70,459
Costo amortizado
Total 534,395 474,285 520,459
Préstamos bancarios (corriente y no corriente) 2,011 2,012 2,013

Banco international del Perú -1 - - 168,421
Banco Internacional del Perú - 2 - - -
Bank of Nova Scotia - 1 - 122,235 303,249
Banco de Crédito del Perú - 1 24,273 22,959 -
Banco de Crédito del Perú - 2 26,970 20,963 -
BBVA Banco Continental - 2 130,725 77,097 -
BBVA Banco Continental - 1 107,880 93,375 154,890
Scotiabank Perú - 1
BBVA Banco Continental - 3 84,750 95,663 -
Scotiabank Perú - 2 - - -
Citibank N.A. - - -
Banco Santander - - -
Bank of Nova Scotia - 2 121,365 84,183
Banco de crédito e inversiones - - 42,859
Total 495,963 516,475 669,419
Costo Amortizado - 3,685 - 4,182 - 5,248
Total 492,278 512,293 664,171
Arrendamiento financiero
Banco de Crédito del Perú 415,169 476,120 326,420
Banco Internacional del Perú S.A.A 67,024 80,355 93,390
(-)Fondo de Garantía BCP Panamá - 139,499 - 132,549 -
Total 342,694 423,926 419,810
Total de obligaciones financieras 1,369,367 1,410,504 1,604,440

Menos - Porción corriente -141,054 -341,009 -426,640
Porción no corriente 1,228,313 1,069,495 1,177,800
-10% -24% -27%
CORRIENTE
Pasivo diferido neto 2011 2012 2013
Pasivo diferido
Diferencia en base tributaria por activo fijo 457,006 444,654 462,398
Activo diferido por desbroce - 39,716 42,844
Costos de preparación de canteras 36,621 - -
Intereses capitalizados 7,077 27,085 33,691
Comisiones diferidas de bonos y deuda con entidades bancaria 9,563 7,839 1,493
Diferencia de camibo de arrendamiento financiero 1,131 1,347 6,271
Amortización de estudios de "El Platanal" 644 - -
Actualización del pasivo por cierre de minas 911 - -
Amortización de software - - 2,784
Amortización de intangibles - 1,312 1,980
Participación cargada a inventario - - -
Total 512,953 521,953 551,461
Activo Diferido
Ingresos diferidos (neto) - - 1,148 - 1,010
Provisión por desvalorización de inventarios - - -
Diferencia en base tributaria por activo fijo - 5,764
Provisión para vacaciones - 1,654 - 2,187 - 3,243
Provisión por cierre de cantera - 2,528 - 2,856 - 3,459
Instrumentos financieros derivados - 2,798 - 1,033 - 1,436
Depreciación cargada a inventarios - 178
otras provisiones - 2,060 - 1,319 - 4,739
Ingresos diferidos - 9,503
Valor razonable con cambios en otros resultados integrales
Participación cargada a inventarios - 271
Total - 24,307 - 8,721 - 14,158
Pasivo diferido neto Total 488,646 513,232 537,303
Concepto 2011 2012 2013

Cesión de pagos 0 0 0
Arrendamiento financiero 342,694 423,926 419,810
Bonos y deuda con entidades bancarias a largo plazo 1,026,673 986,578 1,184,630
Bonos corporativos 534,395 474,285 520,459
Préstamos bancarios 492,278 512,293 664,171
Obligaciones financieras 1,765,383 1,942,980 2,321,360
0 0 0
2014 2015 2016 2017 2018
62,965 72,198 64,509 71,844 64,140
84,137 116,367 219,803 358,196 256,690
75,797 5,425 10,846 16,570 9,768
8,191 6,560 4,092 5,915 4,577
18,532 14,905 8,147 5,115 9,171
718 460 396 280 0
4,867 13,524 15,702 6,570 5,969
0 0 0 179 23,736
15,555 62,211 1,469 0 11,425
-1,768 -1,971 -3,370 -3,375 -7,175
268,994 289,679 321,594 461,294 378,301
2014 2015 2016 2017 2018

10,437 16,349 20,521 15,560 16,306
194,699 257,182 252,634 184,090 200,529
114,773 182,525 121,479 113,291 100,031
41,552 24,891 30,316 24,747 26,621
176,178 193,546 208,352 210,953 233,135
64,890 0 0 0 18,580
-7,885 -6,593 -15,320 -22,363
602,529 666,608 626,709 533,321 572,839
2014 2015 2016 2017 2018

1,520,983 1,516,724 1,516,724 1,516,724 1,516,724
1,018,948 1,025,145 1,025,145 1,025,145 1,026,345
567,829 567,829 567,829 567,829 567,829
0 0 0 0 99,496
67,036 67,036 67,036 67,036 67,036
64,094 64,250 64,250 64,250 64,250
0 25,992 25,992
20,021 20,021 20,021 20,021 20,021
17,537 17,537 17,537 17,537 17,537
2,289 2,461 2,461 2,815 3,010
63 563 2,783 2,783 2,783
125 125 125 125 125
7,567 7,567 7,567 7,567 7,567
227 224 224 224 232
-28,725 -28,725 -28,725 -28,725 -28,725
3,257,994 3,260,757 3,262,977 3,289,323 3,390,222
2014 2015 2016 2017 2018

222 85 0 0 0
58,920 58,927 159,338
2,922 2,922 2,922 2,922
2,340 0 0 0 3,958
7,551 5,663 12,225 4,124 158
38,343 38,399 38,399 38,399 19,638
48,456 47,069 112,466 104,372 186,014
NO CORRIENTE
2014 2015 2016 2017 2018 2011
93,135 126,591 90,304 120,652 166,467 -
64,527 46,320 70,890 80,429 94,854 -
34,669 39,211 35,095 30,166 25,118 -
17,096 12,960 7,017 4,088 - -
15,067 13,963 14,148 15,502 17,846 -
2,076 172 2,587 3,182 1,370 -
134 246 246 261 178 -
7,124 13,327 9,853 7,547 8,674 -
233,828 252,790 230,140 261,827 314,507 -
NO CORRIENTE
2014 2015 2016 2017 2018 2011
19,069 - 14,688 23,768 16,453 -
1,244 1,318 1,467 1,541 1,694 -
358 244 201 410 2,953 10,590
20,671 1,562 16,356 25,719 21,100 10,590
NO CORRIENTE
2014 2015 2016 2017 2018 2011
0 0 0 30,828 0 342,694
93,996 134,030 368,309 221,480 89,709 0
479,297 352,124 381,789 233,756 134,454 885,619
573,293 486,154 750,098 486,064 224,163 1,228,313
2014 2015 2016 2017 2018

258,466 258,466 312,480 227,150 189,224
0 167,236 164,640 94,105 0
0 0 0 0 0
0 200,000 133,333 44,444 0
146,461 0 0 0 0
78,461 29,864 0 0 0
0 0 0 0 0
0 0 0 0 0
41,688 0 0 0 0
0 131,250 93,750 56,251 18,750
525,076 786,816 704,203 421,950 207,974
2014 2015 2016 2017 2,018

1,868,125 2,133,125 2,100,000 2,028,125 760,275
180,000 180,000 120,000 120,000 120,000
100,000 - - - -
58,584 47,781 28,224 9,086 -
- 28,219 - 25,617 - 21,837 - 17,824 - 6,442
2,178,490 2,335,289 2,226,387 2,139,387 873,833
2,014 2,015 2,016 2,017 2,018

271,216 242,583 204,668 302,541 268,727
- - - - 260,000
237,999 183,591 124,180 65,305 101,370
39,853 182,072 174,819 142,084 83,818
- - - - 331,000
- - 32,061 10,108
113,358 62,489 120,000 120,000 102,857
120,000 120,000 102,857
- - - - 280,500
- - - - 330,200
- - - - 168,950
- - - - 152,055
- - -
156,923 59,728 - -
819,349 730,463 775,728 760,038 2,182,334
- 5,160 - 4,893 - 3,986 - 3,534 - 15,080
814,189 725,570 771,742 756,504 2,167,254
3,249,061
287,202 200,463 114,876 23,701 -

81,709 71,400 45,523 20,548 -
- - - - -
368,911 271,863 160,399 44,249 -
3,361,590 3,332,722 3,158,528 2,940,140 3,041,087

-479,297 -352,124 -381,789 -233,756 -134,454 -134,454
2,882,293 2,980,598 2,776,739 2,706,384 2,906,633
-14% -11% -12% -8% -4%
2014 2015 2016 2017 2018
413,992 428,182 463,467 473,083 457,221

36,708 35,507 37,504 36,278 34,839
- - - -
30,536 32,505 36,975 34,830 33,422
8,721 - - -
4,704 2,826 2,184 -
- - - -
- - - -
2,282 1,787 1,195 -
1,982 2,586 - 48 - 1,917
- - - 49 -
498,925 503,393 541,276 544,239 523,565
- 16,584 - 11,723 - -
- - - 1,954 - 4,519 - 6,597
- - -
- 2,971 - 2,291 - 3,098 - 3,407 - 3,912
- 2,865 - 1,303 - 2,076 - 2,353 - 2,627
- 1,666 - 1,533 - 2,976 - 2,819 - 6,702
- 1,211 - -
- 2,374 - 5,230 2,179 - 4,463 - 4,817
- - 1,507 - 1,944 - 1,421
- 1,561
71 - 442 - -
- 26,389 - 23,733 - 9,432 - 19,505 - 27,637
472,536 479,660 531,844 524,734 495,928
2014 2015 2016 2017 2018

0 0 0 30,828 0
525,076 786,816 704,203 421,950 207,974
368,911 271,863 160,399 44,249 0
2,992,679 3,060,859 2,998,129 2,895,891 3,041,087
2,178,490 2,335,289 2,226,387 2,139,387 873,833
814,189 725,570 771,742 756,504 2,167,254
3,886,666 4,119,538 3,862,731 3,392,918 3,249,061
0 0 0 0 0
437,043.00
9%
2012 2013 2014 2015 2016 2017
- - - - - -
12,755 11,883 9,714 - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
12,755 11,883 9,714 - - -
2012 2013 2014 2015 2016 2017

- - - - - -
- - - - - -
11,062 13,663 13,492 13,044 13,023 15,778
11,062 13,663 13,492 13,044 13,023 15,778
2012 2013 2014 2015 2016 2017

423,926 - - - -
0 450,154 431,080 652,786 335,894 200,470
645,569 1,177,800 2,882,293 2,980,598 2,776,739 2,706,384
1,069,495 1,627,954 3,313,373 3,633,384 3,112,633 2,906,854
Sin considerar pagaré
2018
-
-
-
-
-
-
-
-
-
2018
-
-
35,124
35,124
TOTAL
2018 2011 2012 2013 2014
- 342,694 423,926 0 0
118,265 396,016 532,476 716,920 525,076
2,906,633 1,026,673 986,578 1,604,440 3,361,590
3,024,898 1,765,383 1,942,980 2,321,360 3,886,666
ESF 1,765,383 1,942,980 2,321,360 3,886,666
DIF - - - -
2015 2016 2017 2018
0 0 30,828 0
786,816 704,203 421,950 207,974
3,332,722 3,158,528 2,940,140 3,041,087
4,119,538 3,862,731 3,392,918 3,249,061
4,119,538 3,862,731 3,392,918 3,249,061
- - - -
OBLIGACIONES UNACEM
Deuda al
Tipo de obligación Acreedor 31/12/2018 Tasa de
(miles de interés
soles)
Citibank NA New York 189,224 4.26%

Pagarés bancarios para
capital de trabajo - Scotiabank Perú SA 18,750 4.26%
CORTO PLAZO
Total 207,974
Corriente 89,709
No corriente 118,265
12/31/2018
Deuda al
Tipo de obligación Nombre del Bono 31/12/2018 Tasa de Clasificació Fecha de Fecha de Plazo
(miles de interés n Emisión Vencimiento años
soles)
S&P: BB+
UNACEM 2021 5 7/8 760,275 5.88% Moody’s: 12/28/2014 10/30/2021 7
Ba2
Bonos corporativos -
LARGO PLAZO UNAC2DBC1A 60,000 4.94% Apoyo: AA 3/8/2013 3/8/2020 7
Class: AAA
UNAC2DBC2A 60,000 5.16% Apoyo: AA 3/8/2013 3/8/2023 10

Class: AAA
Total 880,275
Deuda al Deuda
Tipo de obligación Acreedor 31/12/2018 Tasa de inicial Fecha del Fecha de Plazo
(miles de interés (miles de préstamo Vencimiento años
soles) soles)
Banco international del Perú -1 268,727 4.80% 302,541 3/30/2017 3/30/2020 3

Banco Internacional del Perú - 2 260,000 4.60% 260,000 10/30/2018 9/30/2022 4
Bank of Nova Scotia - 1 - dólares 101,370 5.40% 101,370 10/31/2018 10/31/2025 7
Banco de Crédito del Perú - 1 83,818 6.25% 191,331 2/28/2015 2/28/2020 5
Banco de Crédito del Perú - 2 331,000 5.80% 331,000 10/31/2018 11/30/2025 7
Préstamos bancarios - 120,000 11/30/2016 11/30/2021
LARGO PLAZO BBVA Banco Continental - 1 102,857 5.20% 5
Scotiabank Perú - 1 102,857 5.80% 120,000 11/30/2016 12/31/2021 5
BBVA Banco Continental - 3 280,500 5.68% 280,500 10/31/2018 11/30/2024 6
Scotiabank Perú - 2 330,200 5.30% 330,200 10/31/2018 10/31/2025 7
Citibank N.A. - dólares 168,950 4.55% 168,950 10/2/2018 10/2/2025 7
Banco Santander - dólares 152,055 4.65% 152,055 11/27/2018 11/27/2023 5
2,182,334
Total Bonos y Préstamos 3,062,609

bancarios
Corriente 134,454
No corriente 2,906,633
Costo Amoritzado 21,522
-3,279,912
0.0289557813628338
WACC
7582.7228549387
1.68% 1.00% 0.68%
Monto de colocación Pago de Precio Sucio YTM Valor de mercado Cupón

(millones) Intereses (miles de soles)
$ 225 Semestral 767,719 5.20% 767,719 804,941
S/ 60 Semestral 60,922 3.88% 60,922 62,963
S/ 60 Semestral 60,962 4.05% 60,962 63,094
889,604
Tasa de interés SBS Tasa SBS Tasa de interes Valor de mercado

(fecha préstamo) Spread (31/12/2018) (SBS +spread) (miles de soles)
(31/12/2018)
7.42% -2.62% 5.53% 2.91% 268,727

4.84% -0.24% 5.53% 5.29% 260,000
4.26% 1.14% 4.98% 6.12% 101,370
6.64% -0.39% 5.53% 5.14% 83,818
5.08% 0.72% 5.53% 6.25% 331,000
6.72% -1.52% 5.53% 4.01% 102,857
6.72% -0.92% 5.53% 4.61% 102,857
5.12% 0.56% 5.53% 6.09% 280,500
5.12% 0.18% 5.53% 5.71% 330,200
4.10% 0.45% 4.98% 5.43% 168,950
6.31% -1.66% 4.98% 3.32% 152,055
Nota: se tomó el promedio de tasas bancarias de la SBS mayores a 360 día para corp 2,182,334
https://www.sbs.gob.pe/app/pp/vectorprecios/Vector_Consulta_Historica.asp
Resumen Miles de soles / %
3,270,583 3,270,583
Deuda total 31/12/2018 -valor contable

3,062,609
Deuda a largo plazo 31/12/2018 -valor contable
3,071,938
Deuda a largo plazo 31/12/2018 -valor mercado
Costo de la deuda largo plazo - contable 5.39%
Costo de la deuda largo plazo - mercado 5.10%
https://www.sbs.gob.pe/app/pp/EstadisticasSAEEPortal/Paginas/TIActivaTipoCreditoEmpresa.aspx?tip=B
8/9/2018 1/1/2019 145.00 122,962.80
3,249,061
Historica.asp
esa.aspx?tip=B
Ventas netas
2011 2012
Cemento (*) 1,492,713 1,705,294
Clinker 4,585 7
Bloques, adoquines y pavimentos de concreto 16,223 20,595
Total 1,513,521 1,725,896
(*) Estimación del Precio promedio de venta de cemento 2011 2012

Despachos en miles de TM (ventas) 4,702,007 5,310,830
Bolsa de cemento en Kg 42.5 42.5
Cantidad de bolsas de 42.5 Kg en Miles de Unidades 110,635 124,961
Precio Promedio de Venta en Soles ( Venta / Cantidad) 13.5 13.6
Crecimiento del precio 1.1%
Costo de ventas
2011 2012
Inventario inicial de productos terminados y en proceso 108,604 120,086
Costo de producción:
Combustible 194,731 231,131
Consumo de materias primas 143,038 132,906
Gastos de personal 86,154 93,074
Energía eléctrica 87,964 90,907
Depreciación 75,372 85,972
Envases 54,334 59,027
Preparación de canteras 12,754 22,416
Otros gastos de fabricación 208,984 248,544
Depreciación por activo diferido por desbroce 4,466
Inventario final de productos terminados y en proceso -120,086 -94,322
Estimación para desvalorización de existencias
Total 851,849 994,207
UTILIDAD BRUTA 661,672 731,689
INGRESOS (GASTOS) OPERATIVOS

Gastos de administración 2011 2012
Servicio de gerencia 49,371 56,210
Donaciones 10,571 13,284
Tributos 11,103 12,998
Depreciación 21,291 9,441
Amortización 6,307 7,271
Regalías mineras 0 0
Servicio prestados por terceros 4,072 13,754
Estimación de cobranza dudosa 0 53
Otros 13,676 7,264
Total 160,334 171,125
Gastos de Ventas 2011 2012
Publicidad y marketing 39,278 37,338
Comisiones por venta 30,261 34,306
Servicio de administración de depósitos 4,588 3,832
Otros 1,572 2,214
Total 79,950 82,517
Otros ingresos operacionales, neto 2011 2012
Otros ingresos
Ingreso por servicios de cabotaje 4,879 16,633
Ingreso por regalías 5,302 5,659
Ingreso por alquileres 6,421 5,552
Venta de mercaderías y suministros 2,235 6,586
Ingresos por venta de energía 766 -
Ingreso por uso de propiedad intelectual, nota 28(b)
Ingreso por bonos de carbono 5,114 391
Recupero por estimación por desvalorización de inversiones
Ingresos por dividendos
Indemnización de seguro 16,356 96
Ingreso por venta de inmuebles, maquinaria y equipo 7,868 -
Devoluciones por impuesto a la renta de años anteriores 1,545 -
Otros ingresos 5,267 6,881
Sub total 55,753 41,798
Otros gastos
Gastos del muelle 5,206 5,242
Amortización de intangibles
Costo de mercaderías y suministros 875 6305
Depreciación
Costo de servicios de cabotaje 1,773 12,637
Amortización de concesión eléctrica 1,501 1,484
Sanciones administrativo fiscales
Provisión por desvalorización de inversiones 4,452 917
Estimación de cobranza dudosa
Otros gastos 2,899 4,572
Sub total 20,398 35,168
Total Otros ingresos operacionales 35,355 6,630
Total gastos operativos -204,929 -247,012
UITILIDAD OPERATIVA 456,743 484,677
OTROS INGRESOS (GASTOS)

Ingresos financieros 2011 2012
Intereses sobre depósitos 2,096 12,446
Cambio de valor razonable instrumentos derivados de negociación 550 2848
Ganancia por actualización de valor de pasivos
Ingresos por dividendos 6,989 1,423
Otros 577 239
Total 10,212 16,956
Costos financieros 2011 2012
Intereses por bonos y deuda con entidades bancarias a largo plazo 45,123 36,210
Redención parcial de bonos
Intereses por préstamos bancarios y pagarés 8,049 17,666
Otros 4,027 2,949
Intereses por instrumentos derivados de cobertura 6,335 4,853
Cambio de valor razonable instrumentos derivados de negociación
Pérdida por actualización del valor razonable de los pasivos 3,793
Comisiones por estructuración de obligaciones financieras 1,304 1,654
Total 64,838 67,125
Diferencia de cambio, neta 2011 2012
Diferencias de Cambio Neto 34,770 75,973
Total otros ingresos (gastos), neto -19,856 25,804
UITILIDAD ANTES DEL IMPUESTO GANANCIAS 436,887 510,481
Ingreso (Gasto) por Impuesto

2011 2012
Corriente -123,908 -126,978
Diferido -4,598 -25,163
Efecto de cambio de tasas en el impuesto a las ganancias
Total -128,506 -152,141
UITILIDAD NETA DEL AÑO 308,381 358,340
Utilidad neta por acción básica y diluida

2011 2012
Numerador (Utilidad atribuible a las acciones comunes y de inversión) 308,381 358,340
Denominador (Promedio de acciones en circulación (comunes y de inv 1,646,503 1,646,503
0.187 0.218
Depreciación + Amortizacion TOTAL 2011 2012

Depreciación - C-Vtas 75,372 85,972
Depreciación - G.Adm 21,291 9,441
Amortización - G.Adm 6,307 7,271
Amortización de intangibles - Otros Gtos - -
Depreciación - Otros Gtos - -
Amortización de concesión eléctrica - Otros Gtos 1,501 1,484
Ingreso por dividendos, nota 24(a) – 2011 2012

Inversiones Imbabura S.A.
2013 2014 2015 2016 2017
1,741,432 1,786,818 1,846,731 1,783,212 1,739,540
3 53,102 46,830 29,411 64,493
33,758 43,062 55,794 52,477 58,618
1,775,193 1,882,982 1,949,355 1,865,100 1,862,651
2013 2014 2015 2016 2017

5,610,572 5,701,464 5,546,155 5,109,203 4,993,346
42.5 42.5 42.5 42.5 42.5
132,013 134,152 130,498 120,217 117,490
13.2 13.3 14.2 14.8 14.8
-3.3% 1.0% 6.2% 4.8% -0.2%
2013 2014 2015 2016 2017

94,322 149,763 205,136 273,531 273,155
220,049 242,138 237,829 209,446 214,909

196,237 128,446 111,072 88,210 76,959
86,291 102,395 96,356 114,203 124,917
95,500 108,508 120,779 93,812 83,954
129,228 172,022 175,307 188,801 212,541
59,279 69,977 79,249 72,130 65,822
22,731 11,985 6,486 5,189 4,938
253,106 243,751 338,507 307,929 270,014
4,776 6,863 4,699 4,531 4,155
-149,763 -205,136 -273,531 -273,155 -199,650
7,885 -1,292 8,727
1,011,756 1,030,712 1,109,774 1,083,335 1,140,441
763,437 852,270 839,581 781,765 722,210
2013 2014 2015 2016 2017

36,578 39,311 18,191 56,573 69,424
49,507 54,074 47,201 62,603 67,111
13,374 15,713 17,235 16,567 15,970
15,074 14,864 20,604 10,618 7,111
9,217 5,690 5,738 5,469 5,373
0 0
0 3,451 3,966 3,222 3,534
30,944 32,156 32,277 35,051 32,286
1,553 0 56
2,289 10,386 9,210 7,196 5,478
158,536 175,645 154,422 197,299 206,343
2013 2014 2015 2016 2017
37,767 39,417 35,051 36,317 41,976
42,958 53,254 45,749 43,048 0
3,978 4,633 4,015 5,052 5,970
2,653 3,182 3,075 1,756 1,820
2,533 5,612 5,739 10,686 7,706
89,889 106,098 93,629 96,859 57,472
2013 2014 2015 2016 2017
12,544 12,238 11,514 9,785 10,091

6,110 5,945 5,510 4,594 5,189
2,609 1,942 2,864 2,876 2,474
3,182 3,842 4,516 756 8,454
1,663 20,743 18,459 18,169
2,415
2,850 3,499 134,114 213,330 247,161
35
1,391
5,536 2,578 2,103 7,113 10,609

32,866 34,122 181,364 256,913 303,538
5,757 3,762 3,816 5,211 28,434

3,051 2,654 698 201
1,248 3,026 5,161 6,074 7,483
1,505 9,338
7,009 2,297 1,845 1,267 1,294
10,497
2,415
8,553 1,124 8,308 4,869 5,870

24,982 13,260 21,784 30,121 52,620
7,884 20,862 159,580 226,792 250,918
-240,541 -260,881 -88,471 -67,366 -12,897
522,896 591,389 751,110 714,399 709,313
2013 2014 2015 2016 2017

6,643 3,082 3,181 2,426 3,666
0 0 0 0 0
4649
995 528 1,529 124 287

7,638 3,610 9,359 2,550 3,953
2013 2014 2015 2016 2017
53,578 86,981 167,265 168,016 168,542
16,338 35,342 43,171 39,159 33,360

5,345 5,981 9,816 8,850 9,281
6,293 4,129 2,117 1,623 4,915
5,788 3,599 1,227 3,842 2,521
1,476 499 581
2,017 17,028 6,583 6,367 6,395
90,835 153,060 230,179 228,356 225,595
2013 2014 2015 2016 2017
-138,260 -122,393 -379,372 -17,639 88,042
-221,457 -271,843 -600,192 -243,445 -133,600
301,439 319,546 150,918 470,954 575,713
2013 2014 2015 2016 2017

-72,647 -94,849 -4,708 -106,524 -116,631
-24,050 -6,979 -15,624 -52,202 7,076
72,395
-96,697 -29,433 -20,332 -158,726 -109,555
204,742 290,113 130,586 312,228 466,158
2013 2014 2015 2016 2017

204,742 290,113 130,586 312,228 466,158
1,646,503 1,646,503 1,646,503 1,646,503 1,646,503
0.124 0.176 0.079 0.1896 0.283
2013 2014 2015 2016 2017

129,228 172,022 175,307 188,801 212,541
9,217 5,690 5,738 5,469 5,373
- - - - -
5,757 3,762 3,816 5,211 28,434
- - - 1,505 9,338
- - - - -
2013 2014 2015 2016 2017

130,675 180,653 155,375
2018 CAGR
1,793,084 0.12% 0.84%
105,234 18.65%
70,676 16.05%
1,968,994 1.50%
2018
5,058,142 1.05%
42.5
119,015
15.1
1.8%
2018
199,650
265,405
111,191
129,728
91,638
213,929 12.8% 16.7% 15.8% 17.4%
66,616
0
348,935
4,877
-216,835
7,043
1,222,177
746,817
2018
43,200
67,400
17,983
8,154
5,934
3,874
36,519
137
6,291
189,492
2018
47,441
0
6,460
2,004
10,947
66,852
2018
11,689
4,868
2,368
12,046
18,430
2015 2016 2017 2018

98,238 0.74 0.83 0.81 0.60
88
16,019
163,746
15,662
2243
11,797
770
2,237
3604
1,142
37,455
126,291
-130,053
616,764
2018
3,435
5547
5303
14,285
2018
158,708
39,257
18,962
11,137
4,373
-
478
13,985
246,900
2018
-60,449
-293,064
323,700
2018
-103,216
21,732
-81,484
242,216
2018
242,216
1,646,503
0.147
2018 PROM Particapación

213,929 156,647 88.74% Depreciación indicada en el Costo de Ventas
5,934 8,519 4.83% 5.79%
- 1,697 0.96%
15,662 7,830 4.44% 5.47%
770 1,452 0.82%
- 373 0.21%
TOTAL 176,518
2018 Bonos exterior 2014 interés Gasto financiero

94,298 1,868,125 5.88% 109,752
18.6% 17.5%
0.75
ión indicada en el Costo de Ventas
ACTIVOS FIJOS
2011 2012 2013

CAPEX BRUTO ACUMULADO (En miles de soles)
Concesiones Mineras 34,365 34,856 34,575
Terrenos 558,977 551,481 563,623
Cierre de canteras 9,141 6,516 5,987
Edificios y construcciones 594,256 417,664 717,682
Instalaciones diversas 49,491 50,206 55,942
Maquinaria y equipo 1,945,345 1,498,464 2,504,196
Unidades de transporte 23,883 23,974 22,873
Muebles y enseres 16,929 17,068 16,810
Equipos diversos 40,958 43,607 55,347
Unidades por recibir 87,741 69,428 7,234
Obras en Curso 1,081,421 1,296,761 178,670
TOTAL 4,442,507 4,010,025 4,162,939
Nota: No considera los Activos mantenidos para distribución ni los deterioros calculados de los activos fijos
-9.7% 3.8%
2011 2012 2013
DEPRECIACIÓN ACUMULADA (En miles de soles)
Terrenos - - -
Maquinaria y equipo 716,417 224,973 261,590
Unidades por recibir - - -
Obras en Curso - - -
TOTAL 1,096,040 404,286 456,389
3,346,467 3,605,739 3,706,550
ACTIVO FIJO NETO en libros(En miles de soles) 2011 2012 2013
Terrenos 558,977 551,481 563,623
Obras en Curso 1,081,421 1,296,761 178,670
TOTAL 3,346,467 3,605,739 3,706,550
8% 3%
ADICIONES (O ALTAS) EN ACTIVOS FIJOS (CAPEX)
2012 2013
INVERSIONES EN CAPEX (En miles de soles)
Concesiones Mineras 491 666
Terrenos 244 6,599
Cierre de canteras 411 -
Edificios y construcciones 190 315
Instalaciones diversas 504 1,441
Maquinaria y equipo 20,683 12,997
Unidades de transporte 2,256 847
Muebles y enseres 151 202
Equipos diversos 1,522 1,604
Unidades por recibir 12,914 7,487
Obras en Curso 333,860 234,812
TOTAL 0 373,226 266,970
-28%
DEPRECIACIONES DEL PERIODO EN CAPEX (En 2012 2013
miles de soles)
Terrenos - -
Cierre de canteras 307 420
Edificios y construcciones 19,242 24,214
Instalaciones diversas 1,079 1,834
Unidades de transporte 2,276 3,252
Unidades por recibir - -
Obras en Curso - -
TOTAL 0 99,003 143,911
45%
ACTIVO FIJO INTANGIBLE BRUTO (En miles de 2011 2012 2013

soles)
Concesiones para generación de energía eléctrica 61,330 61,330 61,330
Crédito mercantil (plusvalía) 9,745 9,745 9,745
Sotware 14,081 18,772 10,712
Programa de protección ambiental 16,217 18,269 17,071
Costos de exploración 10,108 10,434 0
Otros 17,361 22,895 2,676
TOTAL 128,842 141,445 101,534
AMORTIZACIÓN ACUMULADA (En miles de soles) 2011 2012 2013

Crédito mercantil (plusvalía) 0 0 0
Sotware 10,266 11,007 1,074
Otros 16,872 20,811 348
TOTAL 55,933 64,453 23,717
0 0 0
INTANGIBLE NETO -en libros (En miles de soles) 2011 2012 2013
Sotware 3,815 7,765 9,638
Programa de protección ambiental 183 204 397
Costos de exploración 0 1 0
Otros 489 2,084 2,328
TOTAL 72,909 76,992 77,817
4,083 825
ADICIONES (En miles de soles) 2011 2012 2013
Concesiones para generación de energía eléctrica 0 0
Crédito mercantil (plusvalía) 0 0
Sotware 4,691 2,948
Programa de protección ambiental 2,052 230
Costos de exploración 326 0
Otros 5,534 3,639
TOTAL 12,603 6,817
Amrtización del periodo (En miles de soles) 2011 2012 2013

Concesiones para generación de energía eléctrica 1,484 1,484
Sotware 741 1,075
Otros 4,174 3,160
TOTAL 8,755 5,757
3,848 1,060
235 -235
2014 2015 2016 2017 2018 2018
34,633 41,705 43,541 43,631 44,345 1%
568,326 586,223 586,223 611,366 611,611 12%
5,987 9,629 10,204 13,556 33,686 1%
718,972 739,312 904,170 1,067,015 1,127,795 21%
58,254 60,007 90,653 100,176 104,885 2%
2,545,733 2,580,328 2,738,324 2,963,845 3,067,038 58%
23,822 24,033 24,423 24,996 25,786 0%
17,091 17,141 17,222 17,380 17,596 0%
58,222 61,187 61,954 64,475 68,591 1%
7,234 - - - - 0%
501,938 723,141 526,051 229,243 199,437 4%
4,540,212 4,842,706 5,002,765 5,135,683 5,300,770 100%
e los activos fijos
9.1% 6.7% 3.3% 2.7% 3.2%
2014 2015 2016 2017 2018
9,993 10,260 10,527 18,684 18,996
- - - - -
3,012 3,380 4,617 5,798 6,219
108,794 137,596 171,800 216,510 263,124
43,292 44,759 49,112 56,014 61,583
402,990 547,135 696,800 858,340 1,022,172
14,157 17,104 19,256 21,140 21,857
14,325 14,911 15,426 15,910 16,276
38,468 42,156 45,679 48,665 52,019
- - - - -
- - - - -
635,031 817,301 1,013,217 1,241,061 1,462,246
3,905,181 4,025,405 3,989,548 3,894,622 3,838,524 Nota 10
2014 2015 2016 2017 2018
24,640 31,445 33,014 24,947 25,349
568,326 586,223 586,223 611,366 611,611
2,975 6,249 5,587 7,758 27,467
610,178 601,716 732,370 850,505 864,671
14,962 15,248 41,541 44,162 43,302
2,142,743 2,033,193 2,041,524 2,105,505 2,044,866
9,665 6,929 5,167 3,856 3,929
2,766 2,230 1,796 1,470 1,320
19,754 19,031 16,275 15,810 16,572
7,234 - - - -
501,938 723,141 526,051 229,243 199,437
3,905,181 4,025,405 3,989,548 3,894,622 3,838,524
5% 3% -1% -3% -1%
2014 2015 2016 2017 2018 2018
58 7,072 1,836 90 714 0.4%

4,703 5,383 - - 20 0.0%
- 3,642 575 3,572 20,135 11.4%
946 - - - 485 0.3%
884 - 1,852 - 651 0.4%
23,162 264 - 249 1,855 1.1%
1,228 304 1,012 690 790 0.4%
165 50 81 36 21 0.0%
2,875 1,242 584 2 84 0.0%
- - - 0.0%
343,531 285,064 154,703 117,421 151,479 86.0%
377,552 303,021 160,643 122,060 176,234 100%
41% -20% -47% -60% 44% Tasas de depreciación acumuladas
2014 2015 2016 2017 2018 2013
267 267 267 8,157 312 1.35%
- - - - - 0.00%
368 368 1,238 1,181 458 7.02%
28,172 28,802 34,204 44,717 46,614 3.37%
1,211 1,467 4,353 6,902 5,569 3.28%
141,400 144,145 149,686 161,543 163,849 4.38%
3,055 3,031 2,622 1,907 717 14.22%
637 586 515 484 366 3.79%
3,734 3,688 3,523 2,986 3,354 6.34%
- - - - - 0.00%
- - - - - 0.00%
178,844 182,354 196,408 227,877 221,239
24% 2% 8% 25% -3%
2014 2015 2016 2017 2018

61,330 61,330 61,330 61,330 61,330
9,745 9,745 9,745 9,745 9,745
11,953 17,014 19,372 19,779 20,693
17,071 17,071 17,071 17,071 17,071
0 0 0 0 0
5,974 6,070 8,156 11,113 13,023
106,073 111,230 115,674 119,038 121,862
2014 2015 2016 2017 2018

7,105 8,589 10,073 28,544 37,269
0 0 0 0 0
3,229 5,511 8,442 11,584 14,884
16,797 16,834 17,071 17,071 17,071
0 0 0 0 0
348 361 920 7,741 11,378
27,479 31,295 36,506 64,940 80,602
0 0 0 0 0
2014 2015 2016 2017 2018
54,225 52,741 51,257 32,786 24,061 58%
9,745 9,745 9,745 9,745 9,745 24%
8,724 11,503 10,930 8,195 5,809 14%
274 237 0 0 0 0%
0 0 0 0 0 0%
5,626 5,709 7,236 3,372 1,645 4%
78,594 79,935 79,168 54,098 41,260
777 1,341 -767 -25,070 -12,838
2014 2015 2016 2017 2018
0 0 0 0 0
0 0 0 0 0
1,241 5,061 2,358 407 914
0 0 0 0 0
0 0 0 0 0
3,298 421 2,086 2,957 1,910
4,539 5,482 4,444 3,364 2,824
Tasas de depreciación acumuladas
2014 2015 2016 2017 2018 2013
1,484 1,484 1,484 18,471 8,725 2.42%
0 0 0 0 0 0.00%
2,155 2,282 2,931 3,142 3,300 10.04%
123 37 237 0 0 0.22%
0 0 0 0 0 0.00%
0 13 559 6,821 3,637 118.09%
3,762 3,816 5,211 28,434 15,662
777 1,666 -767 -25,070 -12,838
0 -325 0 0 0
4,500,000 Activo Fijo Neto
3,905,181 4,025,405 3,989,548 3,894,622 3,838,524
4,000,000 3,605,739 3,706,550
3,500,000 3,346,467
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
-
2011 2012 2013 2014 2015 2016 2017 2018
400,000 373,226
Adiciones
377,552
en Activos Fijos
350,000
303,021
300,000 266,970
250,000
200,000 176,234
160,643
150,000 122,060
100,000
400,000 373,226 377,552
350,000
303,021
300,000 266,970
250,000
200,000 176,234
160,643
150,000 122,060
100,000
50,000
-
2012 2013 2014 2015 2016 2017 2018
sas de depreciación acumuladas

2014 2015 2016 2017 2018 Promedio
0.77% 0.64% 0.61% 18.70% 0.70% 3.80%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
6.15% 3.82% 12.13% 8.71% 1.36% 6.53%
3.92% 3.90% 3.78% 4.19% 4.13% 3.88%
2.08% 2.44% 4.80% 6.89% 5.31% 4.13%
5.55% 5.59% 5.47% 5.45% 5.34% 5.30%
12.82% 12.61% 10.74% 7.63% 2.78% 10.13%
3.73% 3.42% 2.99% 2.78% 2.08% 3.13%
6.41% 6.03% 5.69% 4.63% 4.89% 5.67%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
sas de depreciación acumuladas
2014 2015 2016 2017 2018 Promedio
2.42% 2.42% 2.42% 30.12% 14.23% 9.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
18.03% 13.41% 15.13% 15.89% 15.95% 14.74%
0.72% 0.22% 1.39% 0.00% 0.00% 0.42%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.21% 6.85% 61.38% 27.93% 35.74%
94,622 3,838,524
017 2018
Depreciación de Activo Fijo

250,000
227,877 221,239
196,408
200,000 178,844 182,354
150,000 143,911
176,234
99,003
22,060 100,000
50,000
250,000
227,877 221,239
196,408
200,000 178,844 182,354
150,000 143,911
176,234
99,003
22,060 100,000
50,000
2017 2018 -
2012 2013 2014 2015 2016 2017 2018
Años de depreciación implícitos

2013 2014 2015 2016 2017 2018 Promedio
74.2 129.7 156.2 163.1 5.3 142.1 26.3
0.0 0.0 0.0 0.0 0.0 0.0 0.0
14.3 16.3 26.2 8.2 11.5 73.6 15.3
29.6 25.5 25.7 26.4 23.9 24.2 25.8
30.5 48.1 40.9 20.8 14.5 18.8 24.2
22.9 18.0 17.9 18.3 18.3 18.7 18.9
7.0 7.8 7.9 9.3 13.1 36.0 9.9
26.4 26.8 29.3 33.4 35.9 48.1 31.9
15.8 15.6 16.6 17.6 21.6 20.5 17.7
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Años de depreciación implícitos

2013 2014 2015 2016 2017 2018 Promedio
41.3 41.3 41.3 41.3 3.3 7.0 11.1
0.0 0.0 0.0 0.0 0.0 0.0 0.0
10.0 5.5 7.5 6.6 6.3 6.3 6.8
461.4 138.8 461.4 72.0 0.0 0.0 236.0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
0.8 0.0 466.9 14.6 1.6 3.6 2.8
tivo Fijo
227,877 221,239
196,408
227,877 221,239
196,408
2016 2017 2018

ESTADO DE RESULTADOS Análisis Vertical
CUENTA (En Miles de S/) 2011 2012 2013 2014
Ingresos de Actividades Ordinarias 100% 100% 100% 100%

Costo de Ventas -56% -58% -57% -55%
Ganancia (Pérdida) Bruta 44% 42% 43% 45%
Gastos de Ventas y Distribución -5% -5% -5% -6%
Gastos de Administración -11% -10% -9% -9%
Otros Ingresos Operativos 4% 2% 2% 2%
Otros Gastos Operativos -1% -2% -1% -1%
Ganancia (Pérdida) Operativa 30% 28% 29% 31%
Ingresos Financieros 1% 1% 0% 0%
Gastos Financieros -4% -4% -5% -8%
Diferencias de Cambio Neto 2% 4% -8% -6%
Ganancia (Pérdida) antes de Impuestos 29% 30% 17% 17%
Ingreso (Gasto) por Impuesto -8% -9% -5% -2%
Ganancia (Pérdida) Neta del Ejercicio 20% 21% 12% 15%
ESTADO DE RESULTADOS Análisis Horizontal
CUENTA 2011 2012 2013 2014
Ingresos de Actividades Ordinarias 14% 3% 6%

Costo de Ventas 17% 2% 2%
Ganancia (Pérdida) Bruta 11% 4% 12%
Gastos de Ventas y Distribución 3% 9% 18%
Gastos de Administración 7% -7% 11%
Otros Ingresos Operativos -25% -21% 4%
Otros Gastos Operativos 72% -29% -47%
Ganancia (Pérdida) Operativa 6% 8% 13%
Ingresos Financieros 66% -55% -53%
Gastos Financieros 4% 35% 69%
Diferencias de Cambio Neto 119% -282% -11%
Ganancia (Pérdida) antes de Impuestos 17% -41% 6%
Ingreso (Gasto) por Impuesto 18% -36% -70%
Ganancia (Pérdida) Neta del Ejercicio 16% -43% 42%
BALANCE GENERAL Analisis Vertical
CUENTA 2011 2012 2013 2014
Activos Corrientes
Efectivo y Equivalentes al Efectivo 1.1% 1.2% 3.0% 0.7%
Cuentas por cobrar comerciales y otras cuentas por cobrar 2.5% 2.6% 3.6% 3.2%
Inventarios 6.3% 6.9% 7.6% 7.2%
Otros Activos no financieros 0.6% 0.2% 0.2% 0.1%
Total Activos Corrientes 10.5% 11.0% 14.4% 11.2%
Activos No Corrientes
Inversiones en subsidiarias, negocios conjuntos y asociada 26.7% 25.8% 25.2% 38.9%
Cuentas por cobrar comerciales y otras cuentas por cobrar 0.2% 0.1% 0.4% 0.6%
Propiedades, Planta y Equipo (neto) 59.4% 59.7% 56.7% 46.7%
Otros Activos no financieros 1.9% 2.2% 2.2% 1.6%
Total Activos No Corrientes 89.5% 89.0% 85.6% 88.8%
TOTAL DE ACTIVOS 100.0% 100.0% 100.0% 100.0%
CUENTA 2011 2012 2013 2014
Pasivos Corrientes
Obligaciones financieras 9.5% 14.5% 10.6% 6.9%
Cuentas por pagar comerciales y otras cuentas por pagar 3.8% 3.9% 3.2% 2.8%
Ingresos diferidos 1.3% 0.1% 0.2% 1.2%
Total Pasivos Corrientes 15.5% 18.9% 14.2% 11.1%
Pasivos No Corrientes
Otros Pasivos Financieros 21.8% 17.7% 24.9% 39.6%
Pasivos por impuestos diferidos 8.7% 8.5% 8.2% 5.6%
Otros pasivos no financieros / Instrum, financ. Derivados 0.2% 0.1% 0.1% 0.1%
Total Pasivos No Corrientes 30.8% 26.7% 33.6% 45.6%
TOTAL PASIVOS 46.3% 45.6% 47.8% 56.7%
Patrimonio
Capital Emitido 26.6% 27.2% 25.2% 19.7%
Otras Reservas de Capital 3.8% 4.1% 4.1% 3.6%
Resultados Acumulados 23.4% 23.1% 23.0% 20.1%
TOTAL PATRIMONIO 53.7% 54.4% 52.2% 43.3%
TOTAL PASIVO Y PATRIMONIO 100.0% 100.0% 100.0% 100.0%
BALANCE GENERAL Analisis Horizontal
CUENTA 2011 2012 2013 2014
Activos Corrientes
Efectivo y Equivalentes al Efectivo 16.9% 165.2% -69.0%
Cuentas por cobrar comerciales y otras cuentas por cobrar 13.0% 46.8% 14.5%
Inventarios 18.9% 18.6% 21.0%
Otros Activos no financieros -73.9% 20.8% -28.1%
Total Activos Corrientes 11.7% 41.8% 0.0%
Inversiones en subsidiarias, negocios conjuntos y asociadas 3.7% 5.6% 98.0%
Cuentas por cobrar comerciales y otras cuentas por cobrar -36.1% 290.3% 66.1%
Propiedades, Planta y Equipo (neto) 7.8% 2.8% 5.4%
Otros Activos no financieros 26.7% 7.9% -4.8%
Total Activos No Corrientes 6.8% 4.1% 32.6%
TOTAL DE ACTIVOS 7.3% 8.2% 27.9%
CUENTA 2011 2012 2013 2014
Pasivos Corrientes
Obligaciones financieras 62.6% -20.6% -17.3%
Cuentas por pagar comerciales y otras cuentas por pagar 11.1% -10.9% 11.8%
Ingresos diferidos -89.9% 36.8% 894.0%
Total Pasivos Corrientes 30.8% -18.6% -0.2%
Otros Pasivos Financieros -12.9% 52.2% 103.5%
Pasivos por impuestos diferidos 5.0% 4.7% -12.1%
Otros pasivos no financieros / Instrum, financ. Derivados -23.3% -22.4% 24.9%
Total Pasivos No Corrientes -7.1% 36.1% 73.7%
TOTAL PASIVOS 5.6% 13.4% 51.8%
Patrimonio
Capital Emitido 9.8% 0.0% 0.0%
Otras Reservas de Capital 16.8% 8.2% 10.7%
Resultados Acumulados 6.2% 7.5% 11.7%
TOTAL PATRIMONIO 8.8% 3.9% 6.0%
TOTAL PASIVO Y PATRIMONIO 7.3% 8.2% 27.9%

2015 2016 2017 2018
100% 100% 100% 100%

-57% -58% -61.23% -62.07%
43% 42% 39% 38%
-5% -5% -3% -3%
-8% -11% -11% -10%
9% 14% 16% 8%
-1% -2% -3% -2%
39% 38% 38% 31%
0% 0% 0% 1%
-12% -12% -12% -13%
-19% -1% 5% -3%
8% 25% 31% 16%
-1% -9% -6% -4%
7% 17% 25% 12%
2015 2016 2017 2018
4% -4% 0% 5.71%
8% -2% 5% 7%
-1% -7% -8% 3%
-12% 3% -41% 16%
-12% 28% 5% -8%
432% 42% 18% -46%
64% 38% 75% -29%
27% -5% -1% -13%
159% -73% 55% 261%
50% -1% -1% 9%
210% -95% -599% -169%
-53% 212% 22% -44%
-31% 681% -31% -26%
-55% 139% 49% -48%
2015 2016 2017 2018
1.5% 0.6% 1.1% 0.3%

3.4% 3.7% 5.4% 4.4%
7.7% 7.3% 6.2% 6.7%
0.1% 0.1% 0.1% 0.1%
12.7% 11.8% 12.8% 11.6%
37.7% 38.0% 38.4% 39.6%

0.5% 1.3% 1.2% 2.2%
46.6% 46.5% 45.5% 44.8%
1.5% 0.0% 0.0% 0.0%
87.3% 88.2% 87.2% 88.4%
100.0% 100.0% 100.0% 100.0%
2015 2016 2017 2018
5.6% 8.7% 5.7% 2.6%

2.9% 2.7% 3.1% 3.7%
1.0% 0.2% 0.2% 0.1%
9.6% 11.8% 9.7% 6.7%
42.1% 36.3% 33.9% 35.3%

5.6% 6.2% 6.1% 5.8%
0.1% 0.1% 0.1% 0.3%
47.9% 42.8% 40.4% 41.8%
57.5% 54.6% 50.1% 48.4%
19.1% 19.2% 19.2% 19.2%

3.6% 3.8% 3.8% 3.8%
19.8% 22.4% 26.9% 28.7%
42.5% 45.4% 49.9% 51.6%
100.0% 100.0% 100.0% 100.0%
2015 2016 2017 2018
115.0% -58.4% 79.3% -69.3%

7.7% 11.0% 43.4% -18.0%
10.6% -6.0% -14.9% 7.4%
-2.2% -8.9% 13.6% 34.3%
16.4% -7.8% 9.0% -9.9%
0.1% 0.1% 0.8% 3.1%

-2.9% 138.9% -7.2% 78.2%
3.1% -0.9% -2.4% -1.4%
-3.2% -100.0% 0.0% 0.0%
1.6% 0.4% -1.4% 1.5%
3.3% -0.7% -0.2% 0.0%
2015 2016 2017 2018
-15.2% 54.3% -35.2% -53.9%

8.1% -9.0% 13.8% 20.1%
-9.3% -81.8% -5.9% -25.7%
-10.4% 22.0% -17.9% -31.4%
9.7% -14.3% -6.6% 4.1%

1.5% 10.9% -1.3% -5.5%
-4.2% 57.8% -6.2% 130.8%
8.5% -11.3% -5.9% 3.5%
4.8% -5.7% -8.4% -3.2%
0.0% 0.0% 0.0% 0.0%

4.4% 5.5% 0.0% 0.0%
1.9% 12.3% 19.8% 6.8%
1.3% 6.2% 9.8% 3.3%
3.3% -0.7% -0.2% 0.0%

UNACEM
GRÁFICOS DE RATIOS FINANCIEROS
Liquidez Corriente
2.00 0.80
1.80 1.74 0.70
1.60
1.32 0.60
1.40
1.32
1.20 0.50
1.01
1.00 1.00 0.40
0.80 0.68 1.02 0.28
0.30
0.60
0.20
0.40 0.58 0.21
0.20 0.10
- -
2011
2012
2013
2014
2015
2016
2017
2018
2011
2012
Apalancamiento Financiero
0.70 1.60
0.57 0.58 1.40
0.60 0.55
0.46 0.48 0.50 1.20
0.50 0.48
1.00 0.86
0.40 0.46
0.80
0.30 0.84
0.60
0.20 0.40
0.10 0.20
- -
2011
2012
2011
2012
2013
2014
2015
2016
2017
2018
Periodo Medio de Cobro (PMC)

100.0 300.00
90.0 90.4
80.0 250.00
70.0 70.1
200.00
60.0 54.2 62.9
48.3
50.0 150.00 168.70
40.0 52.1
30.0 100.00
33.8
20.0 50.00
10.0
0.0 -
2011
2012
2013
2014
2015
2016
2017
2018
2011
2012
ROS
30.0% 12.0% 10.9%
25.0% 25.0% 10.0%

20.4% 20.8% 10.2%
20.0% 8.0%
15.4% 16.7%
15.0% 6.0%
12.3%
10.0% 11.5% 4.0%
5.0% 6.7% 2.0%
0.0% 0.0%
2011
2012
2013
2014
2015
2016
2017
2018
2011
2012
ROS
12
10
0
2011
2012
2013
2014
2015
2016
2017
2018
Prueba Ácida C
0.80 600,000
0.68 0.73
0.70
400,000
0.60 0.52
0.48
0.50 200,000 12,346
0.40
0.28 -
0.30 0.36 0.38
2011
2012
2013
0.20 -200,000
0.21
0.10 -278,352
-400,000
-
-477,671
2011
2012
2013
2014
2015
2016
2017
2018
-600,000
Endeudamiento Total
1.60
1.35
1.40 1.31
1.20
1.20
1.00 1.00
0.86 0.94
0.91
0.80
0.84
0.60
0.40
0.20
-
2011
2012
2013
2014
2015
2016
2017
2018
Periodo Medio de Inventario Per

300.00 140.0
256.11 260.38
250.00 255.72 120.0
205.90
209.79 207.38 100.0 87.8 88.6
200.00
80.0
150.00 168.70 79.5
60.0
100.00
40.0
50.00 20.0
- 0.0
2012
2013
2014
2011
2012
2013
2014
2015
2016
2017
2018
ROE
12.0% 10.9% 7.0%
5.9%
10.9%
10.0% 6.0%
10.2%
8.0%
5.0% 5.5%
8.0% 8.0%
4.0%
6.0%
5.5% 3.0%
6.0%
3.1%
4.0%
3.6% 2.0%
2.0% 1.0%
0.0% 0.0%
2011
2012
2013
2011
2012
2013
2014
2015
2016
2017
2018
Capital de Trabajo
420,854
265,183 268,430
12,346
14,010
2011
2012
2013
2014
2015
2016
2017
2018
-2,946
278,352
-477,671
Periodo Medio de Pago
114.5
109.6
.8 88.6
98.3
92.4
79.5
2012
2013
2014
2015
2016
2017
2018
ROA
5.9%
5.4%
%
3.5%
3.6%
3.1% 2.8%
1.5%
2011
2012
2013
2014
2015
2016
2017
2018
CUENTA (En Miles de S/) 2011 2012 2013 2014
NOF 195,075 321,592 509,002 526,352
FM -278,352 -477,671 12,346 14,010
NOF - FM 473,427 799,263 496,656 512,342
Deuda CP - Efectivo 473,597 799,296 496,656 512,342
Diferencia -170 -33 0 0
Ventas 1,513,521 1,725,896 1,775,193 1,882,982

Variación % de las NOF n.a. 64.9% 58.3% 3.4%
Crecimiento de las Ventas n.a. 14.0% 2.9% 6.1%
NOF/Ventas 0.13 0.19 0.29 0.28
Variación de las NOF 126,517.00 187,410.00 17,350.00
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
-10.0%
Variación % de las NOF Crecimiento de las Ventas
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
-
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 202
NOF Ventas
800,000 692,671
620,294
600,000 509,002 526,352
400,000 321,592
265,183
195,075
200,000
12,346 14,010 -2,946
0
2011 2012 2013 2014 2015 2016
-200,000
-278,352
-400,000 -477,671
-600,000 FM NOF
400,000 321,592
265,183
195,075
200,000
12,346 14,010 -2,946
0
2011 2012 2013 2014 2015 2016
-200,000
-278,352
-400,000 -477,671
-600,000 FM NOF
2015 2016 2017 2018 2019 2020
620,294 692,671 656,790 615,061 665,964 715,941
265,183 -2,946 268,430 420,854 493,655 576,309
355,111 695,617 388,360 194,207 172,309 139,632
355,111 695,617 388,360 194,207 172,309 139,632
0 0 0 0 0 0
1,949,355 1,865,100 1,862,651 1,968,994 1,962,096 2,065,203

17.8% 11.7% -5.2% -6.4% 8.3% 7.5%
3.5% -4.3% -0.1% 5.7% -0.4% 5.3%
0.32 0.37 0.35 0.31 0.34 0.35
93,942.00 72,377.00 - 35,881.00 - 41,729.00 50,902.77 49,976.86
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
-
-200,000 2011 2012 2013 20
0 2021 2022 2023 2024 2025 2026 2027 2028 -400,000

-600,000
imiento de las Ventas
0.40
0.35
0.30
0.25
0.20
0.15
0.10
2020 2021 2022 2023 2024 2025 2026 2027 2028 0.05
-
tas 2011 2012 2013 2014
692,671 656,790
20,294 615,061
420,854
65,183 268,430
-2,946
2015 2016 2017 2018

420,854
65,183 268,430
-2,946
2015 2016 2017 2018

2021 2022 2023 2024 2025 2026
759,138 805,596 855,366 908,019 964,330 1,024,746
671,458 758,211 786,043 976,147 948,332 1,068,737
87,680 47,385 69,323 -68,129 15,998 -43,991
87,680 47,385 69,323 -68,129 15,998 -43,991
0 0 0 0 0 0
2,174,814 2,291,483 2,415,830 2,548,546 2,690,409 2,842,294

6.0% 6.1% 6.2% 6.2% 6.2% 6.3%
5.3% 5.4% 5.4% 5.5% 5.6% 5.6%
0.35 0.35 0.35 0.36 0.36 0.36
43,197.71 46,458.01 49,770.04 52,652.19 56,311.29 60,415.98
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2
NOF FM
NOF/Ventas
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
2027 2028
1,089,651 1,159,382
994,887 959,952
94,764 199,431
94,764 199,431
0 0
3,005,187 3,180,202
6.3% 6.4%
5.7% 5.8%
0.36 0.36
64,905.50 69,731.02
022 2023 2024 2025 2026 2027 2028
22 2023 2024 2025 2026 2027 2028

CÁLCULO DE LOS RATIOS FINANCIEROS - UNACEM
RATIOS DE LIQUIDEZ 2011 2012 2013 2014
Liquidez Corriente 0.68 0.58 1.01 1.02

Activo Corriente / Pasivo Corriente -14.6% 74.3% 0.2%
Prueba Ácida 0.28 0.21 0.48 0.36
Activos liquidos / Pasivo Corriente -22.7% 123.5% -23.5%
Capital de Trabajo Contable (En Miles de S/) - 278,352 - 477,671 12,346 14,010
Activo Corriente - Pasivo Corriente 71.6% -102.6% 13.5%
RATIOS DE APALANCAMIENTO 2011 2012 2013 2014
Apalancamiento Financiero 0.46 0.46 0.48 0.57

Pasivo Total / Activo Total -1.6% 4.8% 18.7%
Endeudamiento Total 0.86 0.84 0.91 1.31
Pasivo Total / Patrimonio Total -3.0% 9.2% 43.2%
Cobertura de intereses 7.04 x 7.22 x 5.76 x 3.86 x
UAII/Gastos financieros
RATIOS DE GESTIÓN SIN DEPRECIACIÓN 2011 2012 2013 2014
Periodo Medio de Cobro (PMC) 33.8 48.3 52.1

Cuentas por cobrar/(ventas/365) 42.7% 8.0%
Periodo Medio de Inventario (PMI) 168.70 205.90 256.11
Inventario/(costo de ventas sin DA/365) 22.1% 24.4%
Compras (estimación) - En Miles de S/ 974,896 960,588 963,384
Inv. Final - Inv. Inic + Costo de ventas sin DA -1.5% 0.3%
Periodo Medio de Pago (PMP) 87.8 79.5 88.6
Cuentas por Pagar/(compras/365) -9.5% 11.5%
Ciclo de conversión del efectivo (CCE) 114.7 174.7 219.7
PMC+PMI-PMP 52.3% 25.7%
RATIOS DE RENTABILIDAD 2011 2012 2013 2014
Margen Bruto 43.7% 42.4% 43.0% 45.3%

Utilidad Bruta / Ventas -3.0% 1.4% 5.2%
Margen Operativo 30.2% 28.1% 29.5% 31.4%
Utilidad Operativa / Ventas -6.9% 4.9% 6.6%
ROS (Margen Neto) 20.4% 20.8% 11.5% 15.4%
Utilidad Neta / Ventas 1.9% -44.5% 33.6%
ROE 10.2% 10.9% 6.0% 8.0%
Utilidad Neta / Patrimonio Total 6.8% -45.0% 33.6%
ROA 5.5% 5.9% 3.1% 3.5%
Utilidad Neta / Activo total 8.3% -47.2% 10.8%
Margen EBITDA 0.0% 34.3% 37.9% 41.1%
EBITDA / Ventas #DIV/0! 10.4% 8.5%
ROIC 5.9% 6.0% 6.1% 5.3%
EBIT(1-Tx) / (Activos Total - NOF) 0.8% 2.3% -13.0%
Ratio de conversión de EBITDA a CFO 0.00 x 2.20 x 2.18 x 1.63 x
EBITDA / CFO
Análisis Dupont 2011 2012 2013 2014

Utilidad neta / Ventas 0.20 0.21 0.12 0.15
Ventas / Activos 0.27 0.29 0.27 0.23
Activos / Patrimonio 1.86 1.84 1.91 2.31
Índice Dupont 10.20% 10.89% 5.99% 8.01%
2011 2012 2013 2014

Obligaciones financieras - var (en miles de S/) 177,597 378,380 1,565,306
Obligaciones financieras (en miles de S/) 1,942,980 2,321,360 3,886,666
Capex (en miles de S/) 385,829.00 273,787.00 382,091.00
Capacidad instalada (en miles de toneladas) 7,600.00 7,600.00 7,600.00
Incremento de ventas 212,375 49,297 107,789
Ratio Capex / Ventas 0.22 0.15 0.20
Ventas (en miles de S/) 1,725,896 1,775,193 1,882,982
Obligaciones financieras LP (en miles de S/) 986,578 1,604,440 3,361,590
Obligaciones financieras LP mod (en miles de S/) 986,578 1,604,440 1,493,465
Ratio de utilización 70.5% 74.1% 75.2%
Capacidad utilizada (en miles de toneladas) 4,731.00 5,355.00 5,631.00 5,718.00
Despacho de cemento (en miles de toneladas) 5,314.88 5,610.57 5,701.46
99% 100% 100%
CÁLCULO DE LOS RATIOS FINANCIEROS - UNACEM y BENCHMARK
LIQUIDEZ CORRIENTE 2011 2012 2013 2014

Unacem 0.68 0.58 1.01 1.02
Comparables Latinoam. 2.18 2.15 2.26 1.95
Pacasmayo - Yura 1.50 2.93 5.03 2.88
CICLO DE CONVERSIÓN DEL EFECTIVO (CC 2011 2012 2013 2014

Unacem - 114.70 174.72 219.67
Comparables Latinoam. 44.97 40.25 42.54
Pacasmayo - Yura 86.95 100.82 113.23
MARGEN NETO 2011 2012 2013 2014

Unacem 20.4% 20.8% 11.5% 15.4%
Comparables Latinoam. -0.7% -4.3% 6.9% 8.3%
Pacasmayo - Yura 19.7% 19.9% 18.5% 19.7%
Apalancamiento Financiero 2011 2012 2013 2014

unacem 46% 46% 48% 57%
Comparables Latinoam. 52% 68% 40% 42%
Pacasmayo - Yura 47% 32% 40% 47%
Endeudamiento Total 2011 2012 2013 2014

unacem 86% 84% 91% 131%
Comparables Latinoam. 47% 58% 74% 82%
Pacasmayo - Yura 88% 51% 67% 95%
Cobertura de intereses 2011 2012 2013 2014

unacem 7.04 x 7.22 x 5.76 x 3.86 x
Pacasmayo - Yura 8.22 x 13.66 x 10.09 x 9.73 x
Ratio de conversión de EBITDA a CFO 2011 2012 2013 2014

unacem - 2.20 2.18 1.63
peru 1.75 1.86 1.36 1.32
Capacidad de Producción en Tm (cemento) 2014 2015 2016 2017

Capacidad instalada total 7,600 7,800 8,300 8,300
Capacidad utilizada (producción total) 5,718 5,565 5,138 5,009
Capacidad disponible 1,882 2,235 3,162 3,291
Capacidad utilizada (en %) 75% 72% 62% 60%
Capacidad ociosa (en %) 25% 28% 38% 40%
Despachos en miles de Tm (ventas) 5,701 5,546 5,109 4,993
Diferencia entre produciada y despachada 17 19 29 16
9,000 7,800
8
7,600
8,000
7,000 5,718 5,565
6,000 5
5,000
4,000
3,000
2,000
1,000
-
2014 2015 2
Capacidad
8.4%
2015 2016 2017 2018
1.32 1.00 1.32 1.74

30.0% -24.4% 32.6% 31.3%
0.52 0.38 0.68 0.73
41.5% -26.7% 80.2% 7.7%
265,183 - 2,946 268,430 420,854
1792.8% -101.1% -9211.7% 56.8%
2015 2016 2017 2018
0.58 0.55 0.50 0.48

1.5% -5.1% -8.3% -3.3%
1.35 1.20 1.00 0.94
3.5% -11.2% -16.6% -6.3%
3.26 x 3.13 x 3.14 x 2.50 x
2015 2016 2017 2018
54.2 62.9 90.4 70.1

4.0% 16.0% 43.6% -22.4%
260.38 255.72 209.79 207.38
1.7% -1.8% -18.0% -1.1%
998,546 854,635 834,512 1,047,766
3.6% -14.4% -2.4% 25.6%
92.4 98.3 114.5 109.6
4.3% 6.4% 16.5% -4.3%
222.2 220.4 185.7 167.9
1.2% -0.8% -15.7% -9.5%
2015 2016 2017 2018
43.1% 41.9% 38.8% 37.9% 4,000,000

-4.8% -2.7% -7.5% -2.2% 3,000,000
38.5% 38.3% 38.1% 31.3%
2,000,000
22.7% -0.6% -0.6% -17.7%
6.7% 16.7% 25.0% 12.3% 1,000,000
-56.5% 149.9% 49.5% -50.8% 0
3.6% 8.0% 10.9% 5.5% 2012
-55.5% 125.2% 36.0% -49.7%
1.5% 3.6% 5.4% 2.8%
-56.4% 140.7% 49.6% -48.0%
48.1% 49.1% 51.8% 43.4% 8.4%
17.0% 2.1% 5.6% -16.4%
6.6% 6.4% 6.3% 5.5%
24.2% -3.3% -1.0% -13.5%
1.54 x 2.07 x 1.47 x 1.69 x
2015 2016 2017 2018

0.07 0.17 0.25 0.12
0.23 0.22 0.22 0.23
2.35 2.20 2.00 1.94
3.56% 8.01% 10.90% 5.48%
2015 2016 2017 2018

232,872 -256,807 -469,813 -143,857
4,119,538 3,862,731 3,392,918 3,249,061
308,503.00 165,087.00 125,424.00 179,058.00
7,800.00 8,300.00 8,300.00 8,300.00
66,373 -84,255 -2,449 106,343
0.16 0.09 0.07 0.09
1,949,355 1,865,100 1,862,651 1,968,994
3,332,722 3,158,528 2,940,140 3,041,087
1,199,597 1,058,528 912,015 977,742
71.3% 61.9% 60.4% 61.1%
Li-
5,564.81 5,137.69 5,009.61 5,072.98
5,546.16 5,109.20 4,993.35 5,058.14 Ciclo
qui
dez de
100% 99% 100% 100% Conversión
co-
rrie
delAc-
Efectivo
nte
Un-
Com-
Pacas
30.0%
(PMC
tiv
o + -
acem
para-
mayo 20.0%
bles
Yura
PMI -Lati-
co-
rrie
10.0%
2015 2016 2017 2018 PMP)
nte noam. 0.0%
/
1.32 1.00 1.32 1.74 400.00Pa- -10.0% 2011 2012
siv
2.03 1.78 1.74 1.67 - o
2.14 3.14 1.76 1.69 co- U
rrie
nte Pa
2015 2016 2017 2018
222.21 220.37 185.66 167.94
30.49 24.87 12.37 31.21
149.11 174.81 102.97 127.83
2015 2016 2017 2018

6.7% 16.7% 25.0% 12.3%
12.5% 16.0% 18.4% 18.9%
18.4% 14.7% 12.9% 14.8%
2015 2016 2017 2018

58% 55% 50% 48% Pasivo Total / Activo Total
41% 34% 32% 47%
50% 48% 50% 48%
2015 2016 2017 2018

135% 120% 100% 94% Pasivo Total / Patrimonio Total
88% 63% 53% 141%
105% 94% 101% 92%
2015 2016 2017 2018 UAII/Gastos financieros

3.26 x 3.13 x 3.14 x 2.50 x
17.96 x 4.43 x 3.07 x 4.60 x
2015 2016 2017 2018

1.54 2.07 1.47 1.69
1.12 1.15 1.02 1.37
2018 2019E 2020E 2021E 2022E

8,300 8,300 8,300 8,300 8,300
5,073 5,217 5,382 5,554 5,733
3,227 3,083 2,918 2,746 2,567
61% 63% 65% 67% 69%
39% 37% 35% 33% 31%
5,082 5,214 5,378 5,550 5,730
- 9
000 7,800
8,300 8,300 8,300 8,300 8,300 8,300 8,300
7,600
000
000 5,718 5,733
5,565 5,382 5,554
000 5,138 5,009 5,073 5,217
000
000
000
000
000
-
2014 2015 2016 2017 2018 2019E 2020E 2021E 2022E
Capacidad instalada total Capacidad utilizada (producción total)

Análisis gráfico de consitencia de las principales variables de UNACEM
Ventas (en miles de S/)

2,000,000
1,900,000
1,800,000
1,700,000
1,600,000
2012 2013 2014 2015 2016 2017
Capacidad instalada y utilizada de producción cemento (en miles de T.M.)

9,000
7,000
5,000
3,000
1,000
2012 2013 2014 2015 2016 2017
Capacidad instalada (en miles de toneladas) Capacidad utilizada (en miles de toneladas)
Capex (en miles de S/)

500,000
400,000
300,000
200,000
100,000
0
2012 2013 2014 2015 2016 2017 201
Obligaciones financieras LP(en miles de S/)

4,000,000
3,000,000
2,000,000
1,000,000
0
2012 2013 2014 2015 2016 2017 201
Margen Neto o ROS
Utilidad Neta / Ventas
30.0%
20.0%
10.0%
0.0%
-10.0% 2011 2012 2013 2014 2015 2016 2017 2018
Unacem Comparables Latinoam.

Pacasmayo - Yura
2016 2017 2018
(en miles de T.M.)
016 2017 2018
lizada (en miles de toneladas)
16 2017 2018
/)
Sin la deuda para compra de

UNACEM Ecuador
16 2017 2018
Mes 21-2 Cemento Portland Tipo I (Índice Base 21-3 Cemento Portland Tipo I (Índice Base
Jul.1992=100,0) * Jul.1992=100,0) *
Jul-92 100 100

Aug-92 101.89 103.23
Sep-92 106.94 106.03
Oct-92 121.89 112.71
Nov-92 123.57 122.63
Dec-92 125.67 128.88
Jan-93 131.35 134.05
Feb-93 137.46 140.94
Mar-93 141.89 145.25
Apr-93 146.73 150.86
May-93 151.37 155.6
Jun-93 156.43 160.13
Jul-93 158.96 164.87
Aug-93 165.7 169.83
Sep-93 171.81 182.11
Oct-93 177.71 182.11
Nov-93 177.71 182.11
Dec-93 180.45 184.05
Jan-94 182.13 186.2
Feb-94 185.71 189.44
Mar-94 185.71 189.44
Apr-94 185.71 189.44
May-94 185.71 189.44
Jun-94 185.71 189.44
Jul-94 187.61 189.44
Aug-94 189.08 193.1
Sep-94 191.4 195.04
Oct-94 194.55 196.77
Nov-94 196.66 196.77
Dec-94 196.66 196.77
Jan-95 196.66 196.77
Feb-95 196.66 196.77
Mar-95 197.92 198.06
Apr-95 201.92 202.15
May-95 205.92 207.54
Jun-95 206.56 211.2
Jul-95 206.56 211.85
Aug-95 208.24 211.85
Sep-95 210.35 216.16
Oct-95 210.35 216.16
Nov-95 213.5 218.96
Dec-95 216.87 222.41
Jan-96 217.93 223.7
Feb-96 217.93 223.7
Mar-96 217.93 223.7
Apr-96 217.93 223.7
May-96 219.4 223.7
Jun-96 221.93 227.8
Jul-96 226.14 231.68
Aug-96 226.14 231.89
Sep-96 226.56 231.89
Oct-96 228.24 234.48
Nov-96 233.3 239.87
Dec-96 234.35 239.87
Jan-97 238.77 242.89
Feb-97 239.82 245.47
Mar-97 241.51 247.41
Apr-97 243.19 248.92
May-97 243.19 248.92
Jun-97 243.19 248.92
Jul-97 243.19 248.92
Aug-97 243.19 248.92
Sep-97 243.19 248.92
Oct-97 243.19 248.92
Nov-97 247.19 252.58
Dec-97 247.61 253.45
Jan-98 247.61 253.45
Feb-98 247.61 253.45
Mar-98 247.61 253.45
Apr-98 252.25 260.34
May-98 255.83 262.28
Jun-98 256.88 276.72
Jul-98 256.88 276.72
Aug-98 258.56 277.58
Sep-98 264.25 285.77
Oct-98 264.25 285.77
Nov-98 269.09 291.38
Dec-98 271.41 292.45
Jan-99 277.51 299.35
Feb-99 287.2 311.2
Mar-99 287.2 311.2
Apr-99 294.36 318.1
May-99 294.36 319.18
Jun-99 294.36 319.18
Jul-99 300.46 323.92
Aug-99 301.31 326.51
Sep-99 305.73 329.52
Oct-99 306.99 332.32
Nov-99 306.99 332.32
Dec-99 310.78 338.57
Jan-00 313.52 339.22
Feb-00 313.52 339.22
Mar-00 313.52 339.22
Apr-00 313.52 339.22
May-00 313.52 339.22
Jun-00 313.52 339.22
Jul-00 313.52 339.22
Aug-00 313.52 339.22
Sep-00 313.52 339.22
Oct-00 313.52 339.22
Nov-00 313.52 339.22
Dec-00 313.52 339.22
Jan-01 313.52 339.22
Feb-01 313.52 339.22
Mar-01 313.52 339.22
Apr-01 313.52 339.22
May-01 317.31 341.81
Jun-01 320.89 347.41
Jul-01 320.89 347.41
Aug-01 320.89 347.41
Sep-01 320.89 347.41
Oct-01 320.89 347.41
Nov-01 320.89 347.41
Dec-01 320.89 347.41
Jan-02 320.89 347.41
Feb-02 320.89 347.41
Mar-02 320.89 347.41
Apr-02 320.89 347.41
May-02 320.89 347.41
Jun-02 320.89 347.41
Jul-02 320.89 347.41
Aug-02 320.89 347.41
Sep-02 320.89 347.41
Oct-02 320.89 347.41
Nov-02 320.89 347.41
Dec-02 320.89 347.41
Jan-03 320.89 347.41
Feb-03 320.89 347.41
Mar-03 320.89 347.41
Apr-03 320.89 347.41
May-03 320.89 347.41
Jun-03 320.89 347.41
Jul-03 320.89 347.41
Aug-03 323.63 350.43
Sep-03 323.63 350.43
Oct-03 323.63 350.43
Nov-03 323.63 350.43
Dec-03 323.63 350.43
Jan-04 323.63 350.43
Feb-04 323.63 350.43
Mar-04 323.63 350.43
Apr-04 323.63 350.43
May-04 323.63 350.43
Jun-04 323.63 350.43
Jul-04 323.63 350.43
Aug-04 323.63 350.43
Sep-04 323.63 350.43
Oct-04 323.63 350.43
Nov-04 323.63 350.43
Dec-04 323.63 350.43
Jan-05 323.63 350.43
Feb-05 323.63 350.43
Mar-05 323.63 350.43
Apr-05 323.63 350.43
May-05 323.63 350.43
Jun-05 323.63 350.43
Jul-05 323.63 350.43
Aug-05 329.52 350.43
Sep-05 329.52 350.43
Oct-05 329.52 350.43
Nov-05 329.52 350.43
Dec-05 329.52 350.43
Jan-06 329.52 350.43
Feb-06 329.52 350.43
Mar-06 329.52 350.43
Apr-06 329.52 350.43
May-06 329.52 350.43
Jun-06 329.52 350.43
Jul-06 329.52 350.43
Aug-06 329.52 350.43
Sep-06 329.52 350.43
Oct-06 329.52 350.43
Nov-06 329.52 350.43
Dec-06 329.52 350.43
Jan-07 329.52 350.43
Feb-07 329.52 350.43
Mar-07 323.41 350.43
Apr-07 323.41 350.43
May-07 323.41 350.43
Jun-07 323.41 350.43
Jul-07 323.41 350.43
Aug-07 323.41 350.43
Sep-07 323.41 350.43
Oct-07 323.41 350.43
Nov-07 323.41 350.43
Dec-07 323.41 350.43
Jan-08 323.41 350.43
Feb-08 323.41 350.43
Mar-08 323.41 350.43
Apr-08 323.41 350.43
May-08 323.41 350.43
Jun-08 323.41 350.43
Jul-08 323.41 350.43
Aug-08 323.41 350.43
Sep-08 323.41 350.43
Oct-08 323.41 350.43
Nov-08 323.41 350.43
Dec-08 323.41 350.43
Jan-09 323.41 350.43
Feb-09 323.41 350.43
Mar-09 323.41 350.43
Apr-09 323.41 350.43
May-09 323.41 350.43
Jun-09 323.41 346.98
Jul-09 323.41 346.98
Aug-09 323.41 346.98
Sep-09 323.41 346.98
Oct-09 323.41 346.98
Nov-09 323.41 346.98
Dec-09 323.41 346.98
Jan-10 327.42 357.75
Feb-10 329.31 357.75
Mar-10 329.31 357.75
Apr-10 329.31 357.75
May-10 329.31 357.75
Jun-10 329.31 357.75
Jul-10 329.31 357.75
Aug-10 334.57 357.75
Sep-10 335.42 357.75
Oct-10 335.42 357.75
Nov-10 335.42 357.75
Dec-10 335.42 357.75
Jan-11 335.42 357.75
Feb-11 335.42 357.75
Mar-11 332.68 354.74
Apr-11 332.68 354.74
May-11 332.68 354.74
Jun-11 332.68 354.74
Jul-11 332.68 354.74
Aug-11 332.68 354.74
Sep-11 332.68 354.74
Oct-11 332.68 354.74
Nov-11 332.68 354.74
Dec-11 332.68 354.74
Jan-12 339.42 354.74
Feb-12 339.42 354.74
Mar-12 339.42 354.74
Apr-12 339.42 354.74
May-12 339.42 354.74
Jun-12 339.42 354.74
Jul-12 339.42 354.74
Aug-12 339.42 354.74
Sep-12 339.42 354.74
Oct-12 339.42 354.74
Nov-12 339.42 354.74
Dec-12 339.42 354.74
Jan-13 339.42 354.74
Feb-13 339.42 354.74
Mar-13 339.42 354.74
Apr-13 339.42 354.74
May-13 339.42 354.74
Jun-13 339.42 354.74
Jul-13 339.42 354.74
Aug-13 339.42 354.74
Sep-13 339.42 354.74
Oct-13 339.42 354.74
Nov-13 339.42 354.74
Dec-13 339.42 354.74
Jan-14 339.42 354.74
Feb-14 339.42 354.74
Mar-14 339.42 354.74
Apr-14 339.42 354.74
May-14 339.42 354.74
Jun-14 339.42 354.74
Jul-14 339.42 354.74
Aug-14 339.42 354.74
Sep-14 352.47 366.81
Oct-14 354.05 375.64
Nov-14 354.05 375.64
Dec-14 354.05 375.64
Jan-15 367.31 389.65
Feb-15 367.31 389.65
Mar-15 367.31 389.65
Apr-15 367.31 389.65
May-15 367.31 389.65
Jun-15 367.31 389.65
Jul-15 367.31 389.65
Aug-15 367.31 389.65
Sep-15 367.31 389.65
Oct-15 367.31 389.65
Nov-15 367.31 389.65
Dec-15 367.31 389.65
Jan-16 382.73 405.81
Feb-16 385.11 408.4
Mar-16 385.11 408.4
Apr-16 385.11 408.4
May-16 385.11 408.4
Jun-16 385.11 408.4
Jul-16 385.11 408.4
Aug-16 385.11 408.4
Sep-16 385.11 408.4
Oct-16 385.11 408.4
Nov-16 385.11 408.4
Dec-16 385.11 408.4
Jan-17 393.81 417.67
Feb-17 401.92 426.29
Mar-17 401.92 426.29
Apr-17 401.92 426.29
May-17 401.92 426.29
Jun-17 401.92 426.29
Jul-17 401.92 426.29
Aug-17 401.92 426.29
Sep-17 401.92 426.29
Oct-17 401.92 426.29
Nov-17 401.92 426.29
Dec-17 401.92 426.29
Jan-18 401.92 426.29
Feb-18 423.68 449.56
Mar-18 423.68 449.56
Apr-18 423.68 449.56
May-18 423.68 449.56
Jun-18 423.68 449.56
Jul-18 423.68 449.56
Aug-18 423.68 449.56
Sep-18 423.68 449.56
Oct-18 423.68 449.56
Nov-18 423.68 449.56
Dec-18 423.68 449.56
* INEI - Índices Unificados de Precios (Base: julio 1992 = 100,0) para las seis (6) Áreas Geográficas
** http://ww3.vivienda.gob.pe/destacados/estadistica/98.pdf
CONSTRUCCION DEL PRECIO DEL CEMENTO A PARTIR DEL INDICE DE PRECIOS DEL CEMENTO PORTLAND TIPO I PARA LA RE
Año Indice de Precios del Cemento Var Relativa del Indice de Precios
Portland Tipo I - Lima - Callao * (%)
2000 313.52 5.47%
2001 318.13 1.47%
2002 320.89 0.87%
2003 322.03 0.36%
2004 323.63 0.50%
2005 326.08 0.76%
2006 329.52 1.05%
2007 324.43 -1.55%
2008 323.41 -0.31%
2009 323.41 0.00%
2010 331.63 2.54%
2011 333.14 0.46%
2012 339.42 1.89%
2013 339.42 0.00%
2014 344.17 1.40%
2015 367.31 6.72%
2016 384.91 4.79%
2017 401.24 4.24%
2018 421.87 5.14%
Variacion absoluta promedio del precio de bolsa de cemento de 42.5 kg (2000 - 2018)
Tasa CAGR del precio de la bolsa de cemento de 42.5 kg (2000 - 2018) - A nivel agregado
* INEI - Índices Unificados de Precios (Base: julio 1992 = 100,0) para el Área Geográfica 2: Ancash, Lima, Provincia Constitucional del Callao e Ica.
** Precios del 2000 al 2013 construidos a partir del Indice de Precios del Cemento para la regiones de Lima, Callao, entreo otras departamentos de la zona central del Per
PRECIO PROMEDIO ESTIMADO DEL PORTAFOLIO DE PRODUCTOS DE CEMENTOS DE UNACEM
Año Ventas por cemento (En Miles de S/) Despacho de cemento UNACEM - DC
(Miles de T.M.) *
2011 1,492,713 4,708.53

2012 1,705,294 5,314.88
2013 1,741,432 5,610.57
2014 1,786,818 5,701.46
2015 1,846,731 5,546.16
2016 1,783,212 5,109.20
2017 1,739,540 4,993.35
2018 1,793,084 5,058.14
Precio estimado por bolsa de 42.5

Producto kg de UNACEM
Cemento Sol 22.2
Cemento APU 20.7
Cemento Andino Ultra HS 24.2
Precio de bolsa de cemento de 42.5 Kg
(S/) **
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
n.d
18.25
18.25
18.26
18.29
18.27
18.29
18.28
18.27
18.86
19.18
19.23
19.25
19.8
19.91
19.99
20
20.05
20.05
20.07
20.12
20.09
20.14
20.16
20.13
21.13
21.16
21.19
21.18
21.28
21.29
21.23
21.26
21.21
21.21
21.21
21.19
21.96
22.01
22.07 Análisis gráfico del P
22.03 430
Índice de Precios Cemento Portland Tipo I

22.08
420
22.1
22.16 410
22.12 400
22.13 390
22.12 380
22.09
22.07 370
22.11 360
22.78 350
22.83 340
22.92
330
22.92
5 5 5 5 5
22.91 n-1 r -1 y-1 l-1 p-1 v-
1
Ja a a Ju Se o
22.92 M M N
n.d
n.d
n.d
n.d
n.d
is (6) Áreas Geográficas
ECIOS DEL CEMENTO PORTLAND TIPO I PARA LA REGION DE LIMA, CALLAO, ENTRE OTRAS - A NIVEL AGREGADO (INDUSTRIA)
Precio de bolsa de cemento de 42.5 Kg Var Abs. del precio

(S/) **
16.90 0.88
17.15 0.25
17.30 0.15
17.36 0.06
17.45 0.09
25.00
17.58 0.13
bolsa de 42.5 kg (S/)
20.00 5.47%
15.00
10.00 1.47%
0.87%
0.36% 0.5
25.00
17.77 0.19
Precio de bolsa de 42.5 kg (S/)

20.00 5.47%
17.49 -0.27
17.44 -0.05 15.00
17.44 0.00
17.88 0.44 10.00 1.47%
0.87%
17.96 0.08 0.36% 0.5
18.30 0.34 5.00
18.30 0.00
18.56 0.26 -
20.04 1.49
2000
2001
2002
2003
21.21 1.17
22.08 0.87
22.77 0.69
emento de 42.5 kg (2000 - 2018) 0.35 céntimos de S/
g (2000 - 2018) - A nivel agregado 1.67% CAGR
Lima, Provincia Constitucional del Callao e Ica.
e Lima, Callao, entreo otras departamentos de la zona central del Perú.
ENTOS DE UNACEM
Precio estimado por bolsa de 42.5 kg de

UNACEM
13.5
13.6
13.2
13.3
14.2
14.8
14.8
15.1
Análisis gráfico del Precio de bolsa de 42.5 kg (S/) vs Índice de Precios Cemento Portland Tipo I
30 24
20
23
10
00
22
90
80 21
70
20
60
50
19
40
30 18
5 5 5 5 5 5 6 6 6 6 6 6 7 7 7 7 7 7 8 8 8 8
n-1 r -1 y-1 l-1 p-1 v-1 n-1 r -1 y-1 l-1 p-1 v-1 n-1 r -1 y-1 l-1 p-1 v-1 n-1 r -1 y-1 l-1
Ja a a u Se a a u a a u a a u
M M J No Ja M M J Se No Ja M M J Se No Ja M M J
GREGADO (INDUSTRIA)
00 8.0
6.72%
7.0
00 5.47% 5.14% 6.0
4.79%
4.24% 5.0
00 4.0
2.54% 3.0
1.89%
00 1.47% 1.40% 2.0
0.87% 0.76% 1.05%
0.36% 0.50% 0.46% 1.0
0.00% 0.00%
00 8.0
6.72%
7.0
00 5.47% 5.14% 6.0
4.79%
4.24% 5.0
00 4.0
2.54% 3.0
1.89%
00 1.47% 1.40% 2.0
0.87% 0.76% 1.05%
0.36% 0.50% 0.46% 1.0
-0.31% 0.00% 0.00%
00 0.0
-1.55% -1.0
- -2.0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
o Portland Tipo I
24
23
Precio de bolsa de 42.5 kg (S/)
22
21
20
19
18
7 7 8 8 8 8
v-1 n-1 r -1 y-1 l-1
a a u
No Ja M M J
8.00%
6.72%
7.00%
5.14% 6.00%
4.79%
e crecimineto (%)
4.24% 5.00%
4.00%
3.00%
1.40% 2.00%
1.00%
8.00%
6.72%
7.00%
5.14% 6.00%
4.79%
Tasa de crecimineto (%)

4.24% 5.00%
4.00%
3.00%
1.40% 2.00%
1.00%
0.00%
-1.00%
-2.00%
2014
2015
2016
2017
2018
MÉTODO: MODELO ECONOMÉTRICO PARA EL DESPACHO DE CEMENTO DE UNACEM
Despacho de cemento
Año UNACEM - DC (Miles
de T.M.) *
1994 1,972.80
301.74 1995 2,274.54
81.49 1996 2,356.03
259.41 1997 2,615.44
98.94 1998 2,714.38
- 370.01 1999 2,344.37
- 50.95 2000 2,293.42
23.28 2001 2,316.70
261.42 2002 2,578.12
133.39 2003 2,711.51
340.72 2004 3,052.23
306.80 2005 3,359.03
327.82 2006 3,686.84
97.96 2007 3,784.80
403.25 2008 4,188.05
22.41 2009 4,210.47
500.72 2010 4,711.19
- 2.66 2011 4,708.53
606.35 2012 5,314.88
295.69 2013 5,610.57
90.89 2014 5,701.46
- 155.31 2015 5,546.16
- 436.95 2016 5,109.20
- 115.86 2017 4,993.35
64.80 2018 5,058.14
159.89 2019(e) 5,218.04 PRECIO CEMENTO
164.95 2020(e) 5,382.98 3.16%
170.16 2021(e) 5,553.15
175.54 2022(e) 5,728.69
181.09 2023(e) 5,909.78
186.81 2024(e) 6,096.59
192.72 2025(e) 6,289.31
198.81 2026(e) 6,488.12
205.10 2027(e) 6,693.22
211.58 2028(e) 6,904.80
*Memorias anuales de UNACEM.

** BCRP https://estadisticas.bcrp.gob.pe/estadisticas/series/anuales/pbi-por-sectores
*** Ministerio de Vivienda, Construcción y Saneamineto y Estimado. http://ww3.vivienda.gob.pe/destacados/estadistica/98.pdf
pe/destacados/estadistica/98.pdf
ZONA DE HIPÓTESIS
VARIABLES DEL ER DESCRIPCIÓN O JUSTIFICACIÓN

I INGRESOS (criterio elegido) Los ingresos de la empresa dependen del precio y la cantidad de ceme
1,840,601 1,889,377 1,939,445
Líneas de Negocio (en Miles de Soles) FY 2019 FY 2020 FY 2021
1 Ventas de cemento ( P x Q) 1,842,117 1,932,058 2,026,390
Precio promedio de bolsa de cemento 15.3 15.6 15.8
Cantidad de bolsas de 42.5 Kg en Miles de Unidades 120,263 124,065 127,986
2 Clinker 37,958 37,958 37,958
3 Bloques, adoquines y pavimentos 82,021 95,186 110,465
Total de Ingresos ( 1 + 2 + 3) 1,962,096 2,065,203 2,174,814
II COSTO DE VENTAS
FY 2019 FY 2020 FY 2021
Costo de Ventas (Miles Soles) -1,217,895 -1,281,895 -1,349,932
Total Depreciación proyectada 238,392 240,454 243,753
% Deprecición correspondiente a C.Ventas 88.74% 211,556 213,385 216,312
Costo de Ventas (Miles Soles) sin depreciación -1,006,340 -1,068,510 -1,133,619
% del C.Ventas por depreciación (Costos Semi Variables) 17% 17% 16%
% del C.Ventas sin depreciación (Costos Variables) 83% 83% 84%
III GASTOS DE VENTAS Y DISTRIBUCIÓN

FY 2019 FY 2020 FY 2021
Gasto de Ventas (Miles Soles) -66,618 -70,119 -73,840
% Deprecición correspondiente a G.Ventas 0.00% 0 0 0
Gasto de Ventas (Miles Soles) sin depreciación -66,618 -70,119 -73,840
% del G.Ventas por depreciación (Gasto Semi Variables) 0% 0% 0%
% del G.Ventas sin depreciación (Gasto Variables) 100% 100% 100%
IV GASTOS ADMINISTRATIVOS
FY 2019 FY 2020 FY 2021
Gasto Administrativos (Miles Soles) -188,828 -198,751 -209,300
% Deprecición correspondiente a G.Administración 5.79% 13,798 13,917 14,108
Gastos Adminsitrativos (Miles Soles) sin depreciación -175,031 -184,834 -195,192
% del G.Administrativo por depreciación (Gastos Semi Vari 7% 7% 7%
% del G.Administrativo sin depreciación (Gastos Variables) 93% 93% 93%
V OTROS INGRESOS OPERATIVOS

FY 2019 FY 2020 FY 2021
Otros Ingresos Operativos (Miles Soles) 226,390 226,390 226,390
Ingresos operativos por dividendos de subsidiarias 169,793 169,793 169,793
VI OTROS GASTOS OPERATIVOS
FY 2019 FY 2020 FY 2021
Otros Gastos Operativos (Miles Soles) -35,495 -35,495 -35,495
% Deprecición correspondiente a Otros G.Operativos 5.47% 13,039 13,152 13,333
Otros G.Operativos (Miles Soles) sin depreciación -22,456 -22,343 -22,162
% de Otros G.Operativos por depreciación (Costos Semi Va 37% 37% 38%
% de Otros G.Operativos sin depreciación (Costos Variable 63% 63% 62%
VII IMPUESTOS
FY 2019 FY 2020 FY 2021
% 24.8% 23.8% 24.3%
VARIABLES DEL ESF DESCRIPCIÓN O JUSTIFICACIÓN

ACTIVO CORRIENTE
A OTROS ACTIVOS FINANCIEROS
FY 2019 FY 2020 FY 2021
0 0 0
B CUENTAS POR COBRAR

FY 2019 FY 2020 FY 2021
Cuentas por cobrar comerciales y otras cuentas por cobrar 370,917 390,408 411,129
C INVENTARIOS
FY 2019 FY 2020 FY 2021
Inventarios 642,403 682,090 723,653
D OTROS ACTIVOS NO FINANCIEROS

FY 2019 FY 2020 FY 2021
Activos por Impuestos a las Ganancias 0 0 0
Gastos contratados por anticipado - otros activos financiero 8,534 8,534 8,534
ACTIVO NO CORRIENTE
E INVERSIONES EN SUBSIDIARIAS
FY 2019 FY 2020 FY 2021
Inversiones en subsidiarias, negocios conjuntos y asociada 3,390,222 3,390,222 3,390,222
F CUENTAS POR COBRAR - LARGO PLAZO

FY 2019 FY 2020 FY 2021
Gastos contratados por anticipado - otros activos financiero 112,480 112,480 112,480
G ACTIVOS DIFERIDOS POR DESBROCE (NETO)

FY 2019 FY 2020 FY 2021
113,584 109,068 104,552
PASIVO CORRIENTE Y NO CORRIENTE
Bonos corporativos (corriente y no corriente) FY 2019 FY 2020 FY 2021

Bonos del exterior € 760,275 760,275
Primera al tercera emisión del Segundo programa 120,000 120,000 120,000
Primera y tercera emisión del Primer programa 0 0 0
Renovación Bonos del exterior € 0 0 0
Costo amortizado -6,442 -6,442 -6,442
Total 873,833 873,833 113,558
FY 2019 FY 2020 FY 2021

Préstamos bancarios (corriente y no corriente)
### Banco international del Perú - 1 134,364 260,000 130,000
### Banco Internacional del Perú - 2 195,000 130,000 65,000
### Bank of Nova Scotia 86,889 72,407 57,926
### Banco de Crédito del Perú - 1 83,818 41,909 41,909
BBVA Banco Continental - 1 - - -
### BBVA Banco Continental - 2 68,571 34,286 -
### Scotiabank Perú - 1 68,571 34,286 -
### BBVA Banco Continental - 3 233,750 187,000 140,250
### Scotiabank Perú - 2 283,029 235,857 188,686
### Citibank N.A. 144,814 120,679 96,543
### Banco Santander 121,644 91,233 60,822
Préstamo Proyectado 1 280,000 233,333.33 186,666.67
Préstamo Proyectado 2 150,000
Préstamo Proyectado 3 760,000
Préstamo Proyectado 4
Préstamo Proyectado 5
Total 1,984,164 1,677,418 2,066,945
Banco de Crédito del Perú 0 0 0
Banco Internacional del Perú S.A.A 0 0 0
Total 0 0 0
Total de obligaciones financieras 2,857,997 2,551,251 2,180,503

Porción corriente 250,253 223,394 190,930
Porción no corriente 2,607,744 2,327,857 1,989,573
H OBLIGACIONES FINANCIERAS - CORRIENTE

FY 2019 FY 2020 FY 2021
Cesión de pagos 0 0 0
Bonos y deuda con entidaddes bancarias a largo plazo 250,253 223,394 190,930
Total 339,962 313,103 280,639
I CUENTAS POR PAGAR - CORRIENTE

FY 2019 FY 2020 FY 2021
Cuentas por pagar comerciales y otras cuentas por pagar 306,559 315,760 334,847
M OTROS PASIVOS FINANCIEROS - NO CORRIENTE

FY 2019 FY 2020 FY 2021
Bonos y deuda con entidaddes bancarias a largo plazo 2,607,744 2,327,857 1,989,573
2,726,009 2,446,122 2,107,838
FY 2019 FY 2020 FY 2021

J Ingresos diferidos CORRIENTE 33,147 33,147 33,147
FY 2019 FY 2020 FY 2021

K Otras provisiones CORRIENTE 16,184 16,184 16,184
FY 2019 FY 2020 FY 2021

L Pasivos por Impuestos a las Ganancias CORRIENTE 0 0 0
FY 2019 FY 2020 FY 2021

N Cuentas por pagar comerciales y otras cuentas por paga 0 0 0
FY 2019 FY 2020 FY 2021

O Otras provisiones - NO CORRIENTE 19,242 19,242 19,242
FY 2019 FY 2020 FY 2021

P Pasivos por impuestos diferidos - NO CORRIENTE 474,980 474,980 474,980
FY 2019 FY 2020 FY 2021

Q Otros pasivos no financieros - NO CORRIENTE 12,427 12,427 12,427
OTRAS VARIABLES DEL ER
VIII INGRESO POR DEPOSITOS A PLAZO Y GASTOS DE LA DEUDA FINANCIERA
Ingresos Financieros
FY 2019 FY 2020 FY 2021
Intereses sobre depósitos 3,435 3,435 3,435
Cambio de valor razonable instrumentos derivados de nego 1,387 1,387 1,387
Ganancia por actualización de valor de pasivos 0 0 0
Ingresos por dividendos 0 0 0
Otros 5,303 5,303 5,303
10,125 10,125 10,125
IX GASTOS FINANCIEROS
FY 2019 FY 2020 FY 2021
Intereses por cesión de pagos 0 0 0
Intereses por pagarés bancarios 11,491 11,491 11,491
Intereses Bonos corporativos FY 2019 FY 2020 FY 2021

Bonos del exterior € 44,666 44,666 0
Primera al tercera emisión del Segundo programa 6,054 6,054 6,054
Primera y tercera emisión del Primer programa 0 0 0
Total 50,720 50,720 6,054
FY 2019 FY 2020 FY 2021

Préstamos bancarios (corriente y no corriente)
### Banco international del Perú - 1 12,899 6,449 12,480
### Banco Internacional del Perú - 2 11,960 8,970 5,980
### Bank of Nova Scotia 4,974 4,264 3,553
- BBVA Banco Continental - 1 0 0 0
### Scotiabank Perú - 1 5,966 3,977 1,989
### Scotiabank Perú - 2 17,501 15,001 12,500
### Citibank N.A. 6,854 5,875 4,896
### Banco Santander 6,321 5,057 3,793
Prestamo Proyectado 1 0 15,484 12,903
Prestamo Proyectado 2 0 0 0
Prestamo Proyectado 3 0 0 0
Prestamo Proyectado 4
Prestamo Proyectado 5
Total 112,192 103,613 86,830
Banco de Crédito del Perú 0 0 0
Banco Internacional del Perú S.A.A 0 0 0
Total 0 0 0
GASTOS FINANCIEROS 174,403 165,824 104,375

GASTOS FINANCIEROS - LARGO PLAZO 162,912 154,333 92,884
FY 2019 FY 2020 FY 2021

DIVIDENDOS PAGADOS -85,701 -85,701 -85,701
509,857
TASA DE CRECIMIENTO A PERPETUIDAD
b= 19% Retención de utilidades
r= ROIC 8%
Inflación estimad 2% En soles
g= 3.215%
en del precio y la cantidad de cemento despachado (94% de los ingresos totales)
1,990,840 2,043,598 2,097,753 2,153,343 2,210,407 2,268,983 2,329,111
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
2,125,328 2,229,097 2,337,932 2,452,081 2,571,803 2,697,371 2,829,069
16.1 16.4 16.6 16.9 17.2 17.5 17.8
132,032 136,206 140,511 144,953 149,535 154,262 159,139
37,958 37,958 37,958 37,958 37,958 37,958 37,958
128,197 148,775 172,656 200,370 232,533 269,858 313,175
2,291,483 2,415,830 2,548,546 2,690,409 2,842,294 3,005,187 3,180,202
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

-1,422,350 -1,499,533 -1,581,911 -1,669,967 -1,764,244 -1,865,354 -1,973,988
242,848 244,781 246,714 248,574 249,786 250,996 252,206
215,510 217,225 218,940 220,591 221,667 222,740 223,814
-1,206,840 -1,282,308 -1,362,971 -1,449,376 -1,542,577 -1,642,613 -1,750,174
15% 14% 14% 13% 13% 12% 11%
85% 86% 86% 87% 87% 88% 89%
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

-77,801 -82,023 -86,529 -91,346 -96,503 -102,033 -107,975
242,848 244,781 246,714 248,574 249,786 250,996 252,206
0 0 0 0 0 0 0
-77,801 -82,023 -86,529 -91,346 -96,503 -102,033 -107,975
0% 0% 0% 0% 0% 0% 0%
100% 100% 100% 100% 100% 100% 100%
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

-220,528 -232,495 -245,267 -258,920 -273,537 -289,213 -306,056
242,848 244,781 246,714 248,574 249,786 250,996 252,206
14,055 14,167 14,279 14,387 14,457 14,527 14,597
-206,472 -218,327 -230,988 -244,533 -259,080 -274,686 -291,459
6% 6% 6% 6% 5% 5% 5%
94% 94% 94% 94% 95% 95% 95%
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

226,390 226,390 226,390 226,390 226,390 226,390 226,390
169,793 169,793 169,793 169,793 169,793 169,793 169,793
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

-35,495 -35,495 -35,495 -35,495 -35,495 -35,495 -35,495
242,848 244,781 246,714 248,574 249,786 250,996 252,206
13,283 13,389 13,495 13,596 13,663 13,729 13,795
-22,212 -22,106 -22,000 -21,899 -21,832 -21,766 -21,700
37% 38% 38% 38% 38% 39% 39%
63% 62% 62% 62% 62% 61% 61%
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
24.4% 25.6% 25.5% 25.8% 25.9% 26.1% 26.4%
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

0 0 0 0 0 0 0
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

433,185 456,691 481,780 508,598 537,310 568,104 601,189
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

770,394 818,569 870,061 925,218 984,714 1,048,572 1,117,234
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

0 0 0 0 0 0 0
8,534 8,534 8,534 8,534 8,534 8,534 8,534
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

3,390,222 3,390,222 3,390,222 3,390,222 3,390,222 3,390,222 3,390,222
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

112,480 112,480 112,480 112,480 112,480 112,480 112,480
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

100,036 95,520 91,004 86,488 81,972 77,456 72,940
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
120,000 120,000 120,000 120,000 120,000 120,000 120,000

0 0 0 0 0 0 0
0 0 0 0 0 0 0
-2,147 -2,147 -2,147 -2,147 -2,147 -2,147 -2,147
117,853 117,853 117,853 117,853 117,853 117,853 117,853
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
260,000 130,000 260,000 130,000 260,000 130,000 260,000

- - - - - - -
43,444 28,963 14,481 - - - -
- - - - - - -
141,857 94,571 47,286 - - - -
- - - - - - -
- - - - - - -
- - - - - - -
93,500 46,750 - - - - -
141,514 94,343 47,171 - - - -
72,407 48,271 24,136 - - - -
30,411 - - - - - -
140,000.00 93,333.33 46,666.67 - - - -
120,000.00 90,000.00 60,000.00 30,000.00 - - -
665,000.00 570,000.00 475,000.00 380,000.00 285,000.00 190,000.00 95,000.00
100,000.00 85,714.29 71,428.57 57,142.86 42,857.14 28,571.43
100,000.00 85,714.29
1,708,134 1,296,232 1,060,455 611,429 602,143 462,857 469,286
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
1,825,987 1,414,085 1,178,308 729,281 719,996 580,710 587,138

159,888 123,821 103,176 63,858 63,045 50,848 51,411
1,666,099 1,290,264 1,075,132 665,424 656,951 529,861 535,727
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

0 0 0 0 0 0 0
89,709 89,709 89,709 89,709 89,709 89,709 89,709
159,888 123,821 103,176 63,858 63,045 50,848 51,411
249,597 213,530 192,885 153,567 152,754 140,557 141,120
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

357,185 379,097 403,025 428,689 456,481 486,228 518,244
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

118,265 118,265 118,265 118,265 118,265 118,265 118,265
1,666,099 1,290,264 1,075,132 665,424 656,951 529,861 535,727
1,784,364 1,408,529 1,193,397 783,689 775,216 648,126 653,992
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

33,147 33,147 33,147 33,147 33,147 33,147 33,147
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

16,184 16,184 16,184 16,184 16,184 16,184 16,184
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

0 0 0 0 0 0 0
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

0 0 0 0 0 0 0
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

19,242 19,242 19,242 19,242 19,242 19,242 19,242
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

474,980 474,980 474,980 474,980 474,980 474,980 474,980
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

12,427 12,427 12,427 12,427 12,427 12,427 12,427
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

3,435 3,435 3,435 3,435 3,435 3,435 3,435
1,387 1,387 1,387 1,387 1,387 1,387 1,387
0 0 0 0 0 0 0
0 0 0 0 0 0 0
5,303 5,303 5,303 5,303 5,303 5,303 5,303
10124.75 10124.75 10124.75 10124.75 10124.75 10124.75 10124.75
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

0 0 0 0 0 0 0
11,491 11,491 11,491 11,491 11,491 11,491 11,491
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

0 0 0 0 0 0 0
6,054 6,054 6,054 6,054 6,054 6,054 6,054
0 0 0 0 0 0 0
6,054 6,054 6,054 6,054 6,054 6,054 6,054
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
6,240 12,480 6,240 12,480 6,240 12,480 6,240

2,990 0 0 0 0 0 0
2,842 2,132 1,421 711 0 0 0
2,619 0 0 0 0 0 0
10,970 8,228 5,485 2,743 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
7,966 5,311 2,655 0 0 0 0
10,000 7,500 5,000 2,500 0 0 0
3,917 2,938 1,958 979 0 0 0
2,528 1,264 0 0 0 0 0
10,323 7,742 5,161 2,581 0 0 0
8,295 6,636 4,977 3,318 1,659 0 0
42,028 36,775 31,521 26,268 21,014 15,761 10,507
5,530 4,740 3,950 3,160 2,370 1,580
5,530 4,740
110,719 96,535 69,160 55,529 32,073 36,141 23,067
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
128,264 114,079 86,704 73,073 49,618 53,685 40,612

116,773 102,589 75,214 61,583 38,127 42,195 29,121
FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028

-112,268 -147,071 -192,664 -252,389 -330,630 -433,125 -567,394
81%
19%
ención de utilidades
r= ROIC = EBIT(1-T) / (Total Activos - NOF)
Tasa de crecimiento a perpetuidad

Ver Hoja Hipótesis de Ingreso 1
3.215%
1983257.5335 2.65%
1.67% Asume tasa CAGR del precio del cemento para el periodo 2000 - 2018 (Región centro del país).
3.16% Asume tasa CAGR de la cantidad de despacho de cemento en TN en los últimos 20 años
37,958 Promedio de los 8 últimos años (2011-2018). Presenta comportamiento inestable de subidas y bajadas.
16.1% Asume la tasa de la TACC de los valores del año 2016 y 2018. Presenta tendencia creciente.
62.1% % de ingresos 2018
88.7% % promedio historico de la depreciación asignada al costo de ventas.
0.0% No hay depreciación en Gastos de ventas
5.79% % promedio historico de la depreciación asignada al Gasto administrativo
226,390 Promedio de los 4 últimos años (2015-2018), el principal concepto de este importe lo compone los ingresos por divide
75% % de dividendos / otros ingresos operativos de los últimos 4 años (2015-2018)
-35,495 Promedio de los 4 últimos años (2015-2018)
5.47% % promedio historico de la depreciación asignada al Gasto administrativo

- Se estimó con base en el promedio movil de las diferencias permanentes de los último cinco años.
0 se considera cero por no tener saldo en dicha cuenta en los últimos cinco años
69 Promedio de los PMC históricos (4 años)
233 Promedio de los PMI históricos (4 años)
0 Se asume que será constante el valor del último año

8,534 Promedio de los 4 últimos años (2015-2018)
3,390,222 se asume que va mantener su participación en subsidiarias
112,480 Promedio de los 4 últimos años (2015-2018)
4,516 Amortizaciòn anual promedio de los dos últimos años
760,275 El bono del exterior actual vence en octubre del 2021, no se asumirá renovación puesto que cuenta con lineas de cré
120,000 Los bonos vencen en marzo del 2021 y 2023. Se asume renovación
0 El bono venció en Enero 2018. No se renovó.
-6,442 Debido a la disminución de la deuda por este concepto se asumirá solo el ultimo periodo, así mismo desde el 2022 de
0 El saldo al 31.12.2018 es de S/ 268,727 el cual se va a amortizar en partes iguales con vencimiento 03.2019 y 03.202
0 Prestamos de Octubre 2018, tasa 4.6 y vencimiento a 4 años
0 Préstamo de 10.2018, con vencimiento 09.2025
0 Préstamo del 2015, vencimiento en 04.2019 y 02.2020
0 Préstamo de 10.2018, vencimiento de 11.2025
0 Saldo cancelado
0 Contrato de 11.2016, vencimiento el 12.2021
0 Contrato de 11.2016, vencimiento el 11.2021
0 Vencimiento 11.2024
0 Proyectado, préstamo a 6 años, para asumir inversiones en Capex y gastos operativos
0 Proyectado, préstamo a 8 años, para cubrir el vencimiento del bono del exterior por S/ 760,275
0 El saldo al 31.12.2017 es de S/ 23,701 el cual se cancela en febrero 2018.

0 El saldo al 31.12.2017 es de S/ 20,546 el cual se cancela en octubre 2018.
8.8% % de la deuda total, se toma el promedio de los ultimos cuatro años (sin considerar pagarés)
0 El contrato de cesión de pagos realizado con el Banco Santander de Panamá el año 2017, se cancelo en enero 2018
89,709 Debido a que los pagares son renovamos dependiendo de la necesidad de la compañía (EEFF auditado 2018), se as
0 Detalle en la parte superior
104 Promedio de los PMP históricos (4 años)
118,265 Debido a que los pagares son renovamos dependiendo de la necesidad de la compañía (EEFF auditado 2018), se as
33,147 Promedio de los 4 últimos años

0 No se considera puesto que en el último año no se registraron operaciones
0 No se considera puesto que en los últimos dos años no se registraron operaciones
3,435 Asumiendo el mismo saldo del año 2018

1,387 Promedio de los 4 último años
5,303 Asumiendo el mismo saldo del año 2018
0.00%
5.53% Las tasas de interés fijas fluctúan entre 5.20 y 5.85 por ciento anual (notas a los EEFF. 2018). Se asume el prmedio
5.875% Tasa de interes de la nota 14 del dictamen a los EE.FF. 2018.

5.045% Promedio entre 4.93% y 5.16% (nota 14 del dictamen a los EE.FF. 2018)
4.60% Según EEFF auditado 2018 (nota 14 del dictamen a los EE.FF. 2018)
4.91% Se tomará Libor promedio del 2018 a tres meses más la tasa fijahttps://es.global-rates.com/tipos-de-interes/lib
Ya cancelado al cierre del 2018
4.06% Se tomará Libor promedio del 2018 a tres meses más la tasa fijahttps://es.global-rates.com/tipos-de-interes/lib
4.16% Se tomará Libor promedio del 2018 a tres meses más la tasa fija
5.53% Se tomará la tasa promedio para corporativos a largo plazo al 31/12/2018
6.5% Ya cancelado al cierre del 2018

5.8% Ya cancelado al cierre del 2018
5.0% Se asume S/ 85,603 (històrico) hasta el periodo 2021, debido a las restricciones que se tenìan por la emisiòn de bono
Dividend pay out
Retention rate
subidas y bajadas.
o compone los ingresos por dividendos.

mo cinco años.
esto que cuenta con lineas de crédito nacionales y flujo de efectivo relacionado a resultados acumulados.
iodo, así mismo desde el 2022 debe disminuir
con vencimiento 03.2019 y 03.2020. Los años 2020, 2023 y 2026 se renueva el prestamo por S/ 260,000.
2017, se cancelo en enero 2018. Se asumen que no habran otros contratos de ese tipo.
añía (EEFF auditado 2018), se asume que se mantiene el mismo nivel de deuda del último año 2018.
añía (EEFF auditado 2018), se asume que se mantiene el mismo nivel de deuda del último año 2018.
FF. 2018). Se asume el prmedio
ates.com/tipos-de-interes/libor/dolar-usa/2018.aspx
ates.com/tipos-de-interes/libor/dolar-usa/2018.aspx
se tenìan por la emisiòn de bono con vencimiento Octubre 2021. A partir del 2021 se asume un crecimiento de pago de dividendos del 31% anual po
pago de dividendos del 31% anual por tener alta disposición de efectivo.
ACTIVOS FIJOS
2011 2012 2013

CAPEX BRUTO ACUMULADO (En miles de soles)
Terrenos 558,977 551,481 563,623
Obras en Curso 1,081,421 1,296,761 178,670
TOTAL 4,442,507 4,010,025 4,162,939
Nota: No considera los Activos mantenidos para distribución ni los deterioros calculados de los activos fijos
-9.7% 3.8%
2011 2012 2013
DEPRECIACIÓN ACUMULADA (En miles de soles)
Terrenos - - -
Maquinaria y equipo 716,417 224,973 261,590
Unidades por recibir - - -
Obras en Curso - - -
TOTAL 1,096,040 404,286 456,389
2011 2012 2013

ACTIVO FIJO NETO en libros(En miles de soles)
Terrenos 558,977 551,481 563,623
Obras en Curso 1,081,421 1,296,761 178,670
TOTAL 3,346,467 3,605,739 3,706,550

8% 3%
ADICIONES (O ALTAS) EN ACTIVOS FIJOS (CAPEX)
2011 2012 2013
INVERSIONES EN CAPEX (En miles de soles)
Terrenos 244 6,599
Cierre de canteras 411 -
Edificios y construcciones 190 315
Instalaciones diversas 504 1,441
Unidades de transporte 2,256 847
Unidades por recibir 12,914 7,487
Obras en Curso 333,860 234,812
TOTAL 0 373,226 266,970
-28%
DEPRECIACIONES DEL PERIODO (En miles de 2012 2013

soles)

Terrenos - -
Cierre de canteras 307 420
Obras en Curso - -
TOTAL 0 99,003 143,911
45%
ACTIVO FIJO INTANGIBLE BRUTO (En miles de 2011 2012 2013
soles)
Sotware 14,081 18,772 10,712
Otros 17,361 22,895 2,676
TOTAL 128,842 141,445 101,534
AMORTIZACIÓN ACUMULADA (En miles de soles) 2011 2012 2013

Crédito mercantil (plusvalía) 0 0 0
Sotware 10,266 11,007 1,074
Otros 16,872 20,811 348
TOTAL 55,933 64,453 23,717
INTANGIBLE NETO -en libros (En miles de soles) 2011 2012 2013

Sotware 3,815 7,765 9,638
Programa de protección ambiental 183 204 397
Costos de exploración 0 1 0
Otros 489 2,084 2,328
TOTAL 72,909 76,992 77,817
ADICIONES (En miles de soles) 2011 2012 2013

Concesiones para generación de energía eléctrica 0 0
Sotware 4,691 2,948
Otros 5,534 3,639
TOTAL 12,603 6,817
Amrtización del periodo (En miles de soles) 2011 2012 2013

Concesiones para generación de energía eléctrica 1,484 1,484
Sotware 741 1,075
Otros 4,174 3,160
TOTAL 8,755 5,757
3,848 1,060
-3,848 -1,060
2014 2015 2016 2017 2018
34,633 41,705 43,541 43,631 44,345

568,326 586,223 586,223 611,366 611,611
5,987 9,629 10,204 13,556 33,686
718,972 739,312 904,170 1,067,015 1,127,795
58,254 60,007 90,653 100,176 104,885
2,545,733 2,580,328 2,738,324 2,963,845 3,067,038
23,822 24,033 24,423 24,996 25,786
17,091 17,141 17,222 17,380 17,596
58,222 61,187 61,954 64,475 68,591
7,234 - - - -
501,938 723,141 526,051 229,243 199,437
4,540,212 4,842,706 5,002,765 5,135,683 5,300,770
9.1% 6.7% 3.3% 2.7% 3.2%

2014 2015 2016 2017 2018
9,993 10,260 10,527 18,684 18,996
- - - - -
3,012 3,380 4,617 5,798 6,219
108,794 137,596 171,800 216,510 263,124
43,292 44,759 49,112 56,014 61,583
402,990 547,135 696,800 858,340 1,022,172
14,157 17,104 19,256 21,140 21,857
14,325 14,911 15,426 15,910 16,276
38,468 42,156 45,679 48,665 52,019
- - - - -
- - - - -
635,031 817,301 1,013,217 1,241,061 1,462,246
2014 2015 2016 2017 2018
24,640 31,445 33,014 24,947 25,349

568,326 586,223 586,223 611,366 611,611
2,975 6,249 5,587 7,758 27,467
610,178 601,716 732,370 850,505 864,671
14,962 15,248 41,541 44,162 43,302
2,142,743 2,033,193 2,041,524 2,105,505 2,044,866
9,665 6,929 5,167 3,856 3,929
2,766 2,230 1,796 1,470 1,320
19,754 19,031 16,275 15,810 16,572
7,234 - - - -
501,938 723,141 526,051 229,243 199,437
3,905,181 4,025,405 3,989,548 3,894,622 3,838,524

5% 3% -1% -2% -1%
2014 2015 2016 2017 2018
58 7,072 1,836 90 714 880

4,703 5,383 - - 20 -
- 3,642 575 3,572 20,135 11,889
946 - - - 485 162
884 - 1,852 - 651 834
23,162 264 - 249 1,855 7,426
1,228 304 1,012 690 790 1,523
165 50 81 36 21 86
2,875 1,242 584 2 84 663
- - - -
343,531 285,064 154,703 117,421 151,479 177,167
377,552 303,021 160,643 122,060 176,234
41% -20% -47% -24% 44%
2014 2015 2016 2017 2018
267 267 267 8,157 312 -96%

- - - - - 0%
368 368 1,238 1,181 458 -61%
28,172 28,802 34,204 44,717 46,614 4%
1,211 1,467 4,353 6,902 5,569 -19%
141,400 144,145 149,686 161,543 163,849 1%
3,055 3,031 2,622 1,907 717 -62%
637 586 515 484 366 -24%
3,734 3,688 3,523 2,986 3,354 12%
- - - - - 0%
- - - - - 0%
178,844 182,354 196,408 227,877 221,239
24% 2% 8% 16% -3%
2014 2015 2016 2017 2018
61,330 61,330 61,330 61,330 61,330
9,745 9,745 9,745 9,745 9,745
11,953 17,014 19,372 19,779 20,693
17,071 17,071 17,071 17,071 17,071
0 0 0 0 0
5,974 6,070 8,156 11,113 13,023
106,073 111,230 115,674 119,038 121,862
2014 2015 2016 2017 2018

7,105 8,589 10,073 28,544 37,269
0 0 0 0 0
3,229 5,511 8,442 11,584 14,884
16,797 16,834 17,071 17,071 17,071
0 0 0 0 0
348 361 920 7,741 11,378
27,479 31,295 36,506 64,940 80,602
2014 2015 2016 2017 2018

54,225 52,741 51,257 32,786 24,061
9,745 9,745 9,745 9,745 9,745

8,724 11,503 10,930 8,195 5,809
274 237 0 0 0
0 0 0 0 0
5,626 5,709 7,236 3,372 1,645
78,594 79,935 79,168 54,098 41,260 31,515

-12838
2014 2015 2016 2017 2018 Promedio
0 0 0 0 0 0
0 0 0 0 0 0
1,241 5,061 2,358 407 914 5,061
0 0 0 0 0 0
0 0 0 0 0 0
3,298 421 2,086 2,957 1,910 5,534
4,539 5,482 4,444 3,364 2,824
2014 2015 2016 2017 2018

1,484 1,484 1,484 18,471 8,725
0 0 0 0 0
2,155 2,282 2,931 3,142 3,300
123 37 237 0 0
0 0 0 0 0
0 13 559 6,821 3,637
3,762 3,816 5,211 28,434 15,662
777 1,666 -767 -25,070 -12,838
-777 -1,666 767 25,070 0
29,109.33
-1,941.22
2018 FY 2019 FY 2020
1% 45,225 46,105
12% 611,611 611,611
1% 45,575 57,463
21% 1,167,436 1,218,527
2% 109,499 115,210
58% 3,145,742 3,245,121
0% 27,309 28,832
0% 17,682 17,768
1% 72,138 76,521
0% - -
4% 259,182.75 284,871
100% 5,501,399 5,702,029
5,501,399
FY 2019 FY 2020
20,934 22,909
- -
10,595 200,629 9,151 12,849
8,653.78 229,738.6 308,058 352,992
1,941 - 29,109 66,134 70,721
1,190,651 1,359,537
24,401 27,087
16,806 17,340
55,849 59,715
- -
- -
1,691,984.58 1,691,985 1,923,150
3,809,414.67
FY 2019 FY 2020
24,291 23,196
611,611 611,611
36,423 44,614
859,378 865,535
43,365 44,489
1,955,091 1,885,584
2,908 1,745
876 428
16,289 16,806
- -
259,183 284,871
AF1 3,809,415 3,778,879

2018 FY 2019 FY 2020
0.4% 880 880

0.0% - -
11.4% 11,889 11,889
0.3% 162 162
0.4% 834 834
1.1% 7426 7426
0.4% 1523 1523
0.0% 86 86
0.0% 663 663
0.0% 0 0
86.0% 177,167 177,167
100% 200,629 200,629
DEPRECIACIONES DEL ACTIVO FIJO FY 2019 FY 2020

EXISTENTE (En miles de soles)
Concesiones Mineras 1,900 1,900

Terrenos - -
Cierre de canteras 2,168 2,168
Obras en Curso - -
TOTAL 228,312 228,312
DEPRECIACIONES DE LAS ADICIONES EN CAPEX (En miles de soles)

Concesiones Mineras FY 2019 FY 2020
FY 2018 37.7 37.7
FY 2019 37.7
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Total Anual 37.7 75.4
Cierre de canteras FY 2019 FY 2020

FY 2018 765.0 765.0
FY 2019 765.0
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Total Anual 765.0 1,529.9
Instalaciones diversas FY 2019 FY 2020

FY 2018 35.9 35.9
FY 2019 35.9
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Maquinaria y equipo FY 2019 FY 2020

FY 2018 406.9 406.9
FY 2019 406.9
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Unidades de transporte FY 2019 FY 2020

FY 2018 141.9 141.9
FY 2019 141.9
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Muebles y enseres FY 2019 FY 2020

FY 2018 2.6 2.6
FY 2019 2.6
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Total Anual 2.6 5.2
Equipos diversos FY 2019 FY 2020

FY 2018 36.7 36.7
FY 2019 36.7
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Obras en Curso FY 2019 FY 2020

FY 2018 0.0 0.0
FY 2019 0.0
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Total Anual 0.0 0.0
Total depreciación sobre adiciones 1,426.7 2,853.3
FY 2019 FY 2020
61,330 61,330
9,745 9,745
25,754 30,815
17,071 17,071
- -
18,557 24,091
132,457 143,052
FY 2019 FY 2020
38,753 40,237
- -
18,634.95 22,892
17,071 17,071
- -
14,797 18,344
89,256 98,544
FY 2019 FY 2020
58% 22,577.0 21,093.0
24% AI2 9,745.0 9,745.0

14% 7,119.1 7,923.0
0% - -
0% - -
4% 3,760.2 5,746.5
AI1 43,201 44,508
FY 2019 FY 2020
- -
- -
5,061 5,061
- -
- -
5,534 5,534
10,595 10,595
FY 2019 FY 2020
1,484 1,484
- -
9,327 3,245 3,245
5,809 - -
3,518 - -
1,645 -
6,374 4,729
Sotware FY 2019 FY 2020

FY 2018 506.1 506.1
FY 2019 506.1
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Total Anual 506.1 1,012.2
Otros FY 2019 FY 2020

FY 2018 1773.8 1773.8
FY 2019 1773.8
FY 2020
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
FY 2026
FY 2027
Total Anual 1,773.8 3,547.7
Total depreciación sobre adiciones 2,279.9 4,559.9

FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
46,985 47,865 48,745 49,625 50,505

611,611 611,611 611,611 611,611 611,611
69,352 81,240 93,129 105,017 116,906
1,278,255 1,337,983 1,397,711 1,457,439 1,517,167
121,748 128,286 134,823 141,361 147,899
3,360,093 3,475,065 3,590,037 3,705,010 3,819,982
30,355 31,878 33,401 34,924 36,447
17,854 17,940 18,026 18,112 18,198
81,535 86,548 91,562 96,576 101,590
- - - - -
284,871 284,871 284,871 284,871 284,871
5,902,658 6,103,287 6,303,916 6,504,546 6,705,175
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

24,922 26,973 29,062 31,188 33,352
- - - - -
17,311 22,539 28,531 35,288 42,811
397,926 442,860 487,793 532,727 577,661
75,344 80,003 84,698 89,429 94,160
1,528,830 1,698,530 1,868,637 2,039,150 2,210,071
29,915 32,885 35,997 39,251 42,646
17,875 18,413 18,954 19,498 20,044
63,618 67,557 71,533 75,546 79,559
- - - - -
- - - - -
2,155,742 2,389,760 2,625,205 2,862,077 3,100,303
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
22,063 20,892 19,683 18,437 17,153

611,611 611,611 611,611 611,611 611,611
52,040 58,701 64,597 69,729 74,095
880,329 895,123 909,918 924,712 939,506
46,404 48,282 50,125 51,932 53,739
1,831,263 1,776,536 1,721,401 1,665,859 1,609,911
440 - 1,007 - 2,596 - 4,327 - 6,199
- 21 - 473 - 928 - 1,386 - 1,846
17,917 18,991 20,029 21,030 22,031
- - - - -
284,871 284,871 284,871 284,871 284,871
3,746,916 3,713,527 3,678,711 3,642,468 3,604,871

FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
880 880 880 880 880

- - - - -
11,889 11,889 11,889 11,889 11,889
162 162 162 162 162
834 834 834 834 834
7426 7426 7426 7426 7426
1523 1523 1523 1523 1523
86 86 86 86 86
663 663 663 663 663
0 0 0 0 0
177,167 177,167 177,167 177,167 177,167
200,629 200,629 200,629 200,629 200,629
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
1,900 1,900 1,900 1,900 1,900

- - - - -
2,168 2,168 2,168 2,168 2,168
44,934 44,934 44,934 44,934 44,934
4,515 4,515 4,515 4,515 4,515
168,072 168,072 168,072 168,072 168,072
2,402 2,402 2,402 2,402 2,402
528 528 528 528 528
3,793 3,793 3,793 3,793 3,793
- - - - -
- - - - -
228,312 228,312 228,312 228,312 228,312
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

37.7 37.7 37.7 37.7 37.7
37.7 37.7 37.7 37.7 37.7
37.7 37.7 37.7 37.7 37.7
37.7 37.7 37.7 37.7
37.7 37.7 37.7
37.7 37.7
37.7
113.1 150.8 188.5 226.2 263.9
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

765.0 765.0 765.0 765.0 765.0
765.0 765.0 765.0 765.0 765.0
765.0 765.0 765.0 765.0 765.0
765.0 765.0 765.0 765.0
765.0 765.0 765.0
765.0 765.0
765.0
2,294.9 3,059.9 3,824.8 4,589.8 5,354.8
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

35.9 35.9 35.9 35.9
35.9 35.9 35.9 35.9 35.9
35.9 35.9 35.9 35.9 35.9
35.9 35.9 35.9 35.9
35.9 35.9 35.9
35.9 35.9
35.9
107.8 143.7 179.6 215.5 215.5
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

406.9 406.9 406.9 406.9 406.9
406.9 406.9 406.9 406.9 406.9
406.9 406.9 406.9 406.9 406.9
406.9 406.9 406.9 406.9
406.9 406.9 406.9
406.9 406.9
406.9
1,220.8 1,627.8 2,034.7 2,441.6 2,848.6
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

141.9 141.9 141.9 141.9 141.9
141.9 141.9 141.9 141.9 141.9
141.9 141.9 141.9 141.9 141.9
141.9 141.9 141.9 141.9
141.9 141.9 141.9
141.9 141.9
141.9
425.7 567.6 709.4 851.3 993.2
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

2.6 2.6 2.6 2.6 2.6
2.6 2.6 2.6 2.6 2.6
2.6 2.6 2.6 2.6 2.6
2.6 2.6 2.6 2.6
2.6 2.6 2.6
2.6 2.6
2.6
7.7 10.3 12.9 15.5 18.1
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

36.7 36.7 36.7 36.7
36.7 36.7 36.7 36.7 36.7
36.7 36.7 36.7 36.7 36.7
36.7 36.7 36.7 36.7
36.7 36.7 36.7
36.7 36.7
36.7
110.0 146.6 183.3 220.0 220.0
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0
0.0
0.0 0.0 0.0 0.0 0.0
4,280.0 5,706.6 7,133.3 8,560.0 9,914.0
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

61,330 61,330 61,330 61,330 61,330
9,745 9,745 9,745 9,745 9,745
35,876 40,937 45,998 51,059 56,120
17,071 17,071 17,071 17,071 17,071
- - - - -
29,625 35,159 40,693 46,227 51,761
153,647 164,242 174,837 185,432 196,027
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

41,721 43,205 44,689 46,173 47,657
- - - - -
27,247 29,272 31,802 34,839 38,381
17,071 17,071 17,071 17,071 17,071
- - - - -
23,666 28,987 34,309 39,630 44,952
109,705 118,535 127,871 137,713 148,061
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

19,609.0 18,125.0 16,641.0 15,157.0 13,673.0
9,745.0 9,745.0 9,745.0 9,745.0 9,745.0

8,628.9 11,665.5 14,196.0 16,220.4 17,738.7
- - - - -
- - - - -
5,959.0 6,171.5 6,384.0 6,596.5 6,809.1
43,942 45,707 46,966 47,719 47,966
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

- - - - -
- - - - -
5,061 5,061 5,061 5,061 5,061
- - - - -
- - - - -
5,534 5,534 5,534 5,534 5,534
10,595 10,595 10,595 10,595 10,595
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

1,484 1,484 1,484 1,484 1,484
- - - - -
2,837 - - - -
- - - - -
- - - - -
- - - - -
4,321 1,484 1,484 1,484 1,484
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

506.1 506.1 506.1 506.1 506.1
506.1 506.1 506.1 506.1 506.1
506.1 506.1 506.1 506.1 506.1
506.1 506.1 506.1 506.1
506.1 506.1 506.1
506.1 506.1
506.1
1,518.3 2,024.4 2,530.5 3,036.6 3,542.7
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025

1773.8
1773.8 1773.8
1773.8 1773.8 1773.8
1773.8 1773.8 1773.8
1773.8 1773.8 1773.8
1773.8 1773.8
1773.8
5,321.5 5,321.5 5,321.5 5,321.5 5,321.5
6,839.8 7,345.9 7,852.0 8,358.1 8,864.2

FY 2026 FY 2027 FY 2028
Dado que la empresa cuenta con una capacidad instalada al
51,385 52,265 53,145 61%, se estima que la empresa no requerirá de hacer grandes
inversiones en activos fijos para incrementar dicha capacidad
611,611 611,611 611,611 en en corto n mediano plazo, las últimas inversiones realizadas
128,794 140,683 152,571 por la compañía en el 2018 son las siguientes:
1,576,895 1,636,623 1,770,319 Las principales inversiones realizadas por la compañía durante
el 2018 corresponden a las siguientes obras (S/ 69,719,000)
154,437 160,975 174,595 Sistema de despolvamiento de los enfriadores de los hornos 2 y
3,934,954 4,049,926 4,298,445 3 de la planta Condorcocha.
37,970 39,493 41,016 Proyecto en la Planta térmica de la planta Atocongo , Obras en
la Central Hidroeléctrica Carpapata III.,
18,284 18,370 18,456 Durante el 2018 se terminaron los trabajos de (S/ 61,440,000):
106,604 111,618 122,034 Red contra incendios de la faja Atocongo – Conchán, Obras
- - - complementarias en la central hidroeléctrica de Carpapata III,
Interconexiones entre centrales hidroeléctricas Carpapata I y
504,871 724,871 724,871 Huasahuasi.
7,125,804 7,546,433 7,967,063
FY 2026 FY 2027 FY 2028

35,554 37,793 40,070
- - -
51,098 60,150 69,967
622,595 667,529 712,463
98,890 103,621 108,352
2,381,399 2,553,133 2,725,275
46,042 49,437 52,833
20,592 21,141 21,689
83,572 87,585 91,597
- - -
- - -
3,339,741 3,580,389 3,822,247
FY 2026 FY 2027 FY 2028
15,831 14,472 13,075

611,611 611,611 611,611
77,696 80,532 82,604
954,300 969,094 1,057,856
55,546 57,353 66,243
1,553,555 1,496,793 1,573,170
- 8,072 - 9,944 - 11,817
- 2,308 - 2,771 - 3,233
23,032 24,033 30,437
- - -
504,871 724,871 724,871
3,786,063 3,966,044 4,144,816
Tomando en cuenta que solo hubo 20K en inversión en el último

antepenultimos años no hubo inversión, y a la vez UNACEM cue
capacidad instalada utilizada solo al 61%, asumiremos poco prob
incurra en mayores inversiones en los proximos periodos proyec
cual solo tomaremos los 20K para el resto de años
Tomando en cuenta que solo hubo 20K en inversión en el último
antepenultimos años no hubo inversión, y a la vez UNACEM cue
capacidad instalada utilizada solo al 61%, asumiremos poco prob
FY 2026 FY 2027 FY 2028 incurra en mayores inversiones en los proximos periodos proyec
cual solo tomaremos los 20K para el resto de años
880 880 880
- - - Considerando que en el 2018 hubo una inversión menor en Insta
consideramos que es una inversión siempre requerida para man
11,889 11,889 11,889 la planta y las operaciones por lo cual tomaremos como proyecta
162 162 162 de dos años.
834 834 834
Considerando que la vida útil de las Maquinarias y equipos va en
7426 7426 7426 años, consideramos que va a tener que volver a adquirir maquina
1523 1523 1523 reponer las que entren en desuso.
86 86 86 Por el rubro del negocio, uno de los activos importantes son los v
transporte, los cuales tienen una vida útil estimada 5 a 10 años, p
663 663 663 tomaremos una capex por este rubro promedio entre el primero y
0 0 0 analisis histórico.que el incremento de esta partida en los años 20
Considerando
397166.75 397166.75 397166.75 debieron a las construcciones de proyectos Central Hidroeléctric
Hono 1 de Planta Atocongo, y los trabajos de modenización del H
420,629 420,629 420,629 cuales fueron culminados en el 2015, tomaremos como supuesto
anual proyectada el promedio de los 4 últimos años
FY 2026 FY 2027 FY 2028 2013 2014
1,900 1,900 1,900 1.35% 0.77%

- - - 0.00% 0.00%
2,168 2,168 2,168 7.02% 6.15%
44,934 44,934 44,934 3.37% 3.92%
4,515 4,515 4,515 3.28% 2.08%
168,072 168,072 168,072 4.38% 5.55%
2,402 2,402 2,402 14.22% 12.82%
528 528 528 3.79% 3.73%
3,793 3,793 3,793 6.34% 6.41%
- - - 0.00% 0.00%
- - - 0.00% 0.00%
228,312 228,312 228,312
FY 2026 FY 2027 FY 2028

37.7 37.7 37.7
37.7 37.7 37.7
37.7 37.7 37.7
37.7 37.7 37.7
37.7 37.7 37.7
37.7 37.7 37.7
37.7 37.7 37.7
37.7 37.7 37.7
37.7 37.7
37.7
301.6 339.3 377.1
FY 2026 FY 2027 FY 2028

765.0 765.0 765.0
765.0 765.0 765.0
765.0 765.0 765.0
765.0 765.0 765.0
765.0 765.0 765.0
765.0 765.0 765.0
765.0 765.0 765.0
765.0 765.0 765.0
765.0 765.0
765.0
6,119.7 6,884.7 7,649.7
FY 2026 FY 2027 FY 2028 El tiempo de vida según nota a

los EEFF está entre 3 y 10
años, por lo cual asumimos una
vída util de 6 años.
35.9
35.9 35.9
35.9 35.9 35.9
35.9 35.9 35.9
35.9 35.9 35.9
35.9 35.9 35.9
35.9 35.9
35.9
215.5 215.5 215.5

406.9 406.9 406.9 años, por lo cual asumimos una
406.9 406.9 406.9 vída util de 15 años.
406.9 406.9 406.9
406.9 406.9 406.9
406.9 406.9 406.9
406.9 406.9 406.9
406.9 406.9 406.9
406.9 406.9 406.9
406.9 406.9
406.9
3,255.5 3,662.5 4,069.4

141.9 vída util de 7 años.
141.9 141.9
141.9 141.9 141.9
141.9 141.9 141.9
141.9 141.9 141.9
141.9 141.9 141.9
141.9 141.9 141.9
141.9 141.9
141.9
993.2 993.2 993.2

2.6 los EEFF está entre 6 y 10
El tiempo de vida según nota a
2.6 2.6 vída util de 8 años.
2.6 2.6 2.6
2.6 2.6 2.6
2.6 2.6 2.6
2.6 2.6 2.6
2.6 2.6 2.6
2.6 2.6 2.6
2.6 2.6
2.6
20.6 20.6 20.6

36.7
36.7 36.7
36.7 36.7 36.7
36.7 36.7 36.7
36.7 36.7 36.7
36.7 36.7 36.7
36.7 36.7
36.7
220.0 220.0 220.0
FY 2026 FY 2027 FY 2028

0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0 0.0
0.0 0.0
0.0
0.0 0.0 0.0
11,126.2 12,335.9 13,545.5
FY 2026 FY 2027 FY 2028

61,330 61,330 61,330
9,745 9,745 9,745
61,181 66,242 71,303
17,071 17,071 17,071
- - -
57,295 62,829 68,363
206,622 217,217 227,812
FY 2026 FY 2027 FY 2028

49,141 50,625 52,109 0.0
- - -
41,924 45,467 49,009
17,071 17,071 17,071 0.0
- - - 0.0
50,273 55,595 60,916 0.0
158,409 168,758 179,106
FY 2026 FY 2027 FY 2028

12,189.0 10,705.0 9,221.0 0.0
9,745.0 9,745.0 9,745.0

19,257.0 20,775.3 22,293.6
- - - 0.0
- - - 0.0
7,021.6 7,234.1 7,446.6 0.0
48,213 48,459 48,706
FY 2026 FY 2027 FY 2028

- - -
- - -
5,061 5,061 5,061
- - - Considerando que no hubo inversiones en esta partida de activo
- - - Considerando que no hubo inversiones en esta partida de activo
5,534 5,534 5,534
10,595 10,595 10,595
FY 2026 FY 2027 FY 2028 2013 2014
1,484 1,484 1,484 2.42% 2.42%
- - - 0.00% 0.00%
- - - 10.04% 18.03%
- - - 0.22% 0.72%
- - - 0.00% 0.00%
- - - 118.09% 0.00%
1,484 1,484 1,484

506.1 vída util de 10 años.
506.1 506.1
506.1 506.1 506.1
506.1 506.1 506.1
506.1 506.1 506.1
506.1 506.1 506.1
506.1 506.1 506.1
506.1 506.1
506.1
3,542.7 3,542.7 3,542.7
FY 2026 FY 2027 FY 2028 La vida útil, según nuestros

cálculos basados en
información historica es en
promedio de 3 años, motivo por
el cual asumiremos este valor
1773.8
1773.8 1773.8
1773.8 1773.8 1773.8
1773.8 1773.8
1773.8
5,321.5 5,321.5 5,321.5
8,864.2 8,864.2 8,864.2

na capacidad instalada al
requerirá de hacer grandes
rementar dicha capacidad
imas inversiones realizadas
siguientes:
as por la compañía durante
es obras (S/ 69,719,000)
enfriadores de los hornos 2 y
planta Atocongo , Obras en
III.,
rabajos de (S/ 61,440,000):
congo – Conchán, Obras
eléctrica de Carpapata III,
roeléctricas Carpapata I y
20K en inversión en el último año, y en los

sión, y a la vez UNACEM cuenta con una
l 61%, asumiremos poco probable que se
os proximos periodos proyectados, por lo
el resto de años
20K en inversión en el último año, y en los
sión, y a la vez UNACEM cuenta con una
l 61%, asumiremos poco probable que se
os proximos periodos proyectados, por lo
el resto de años
una inversión menor en Instalaciónes,

siempre requerida para mantener operativa
ual tomaremos como proyectado el promedio
Maquinarias y equipos va entre 7 y 25

que volver a adquirir maquinaria para
activos importantes son los vehiculos de

da útil estimada 5 a 10 años, por lo cual
o promedio entre el primero y ultimo año de
de esta partida en los años 2012 al 2015 se
oyectos Central Hidroeléctrica Carpapata III,
abajos de modenización del Horno 3, etc las
15, tomaremos como supuesto una inversión
romedio de los 4 últimos años.
ación acumuladas Años de depreciación implícitos
2015 2016 2017 2018 Promedio 2013
0.64% 0.61% 18.70% 0.70% 4.28% 74.2

0.00% 0.00% 0.00% 0.00% 0.00% 0.0
3.82% 12.13% 8.71% 1.36% 6.43% 14.3
3.90% 3.78% 4.19% 4.13% 3.98% 29.6
2.44% 4.80% 6.89% 5.31% 4.30% 30.5
5.59% 5.47% 5.45% 5.34% 5.48% 22.9
12.61% 10.74% 7.63% 2.78% 9.32% 7.0
3.42% 2.99% 2.78% 2.08% 3.00% 26.4
6.03% 5.69% 4.63% 4.89% 5.53% 15.8
0.00% 0.00% 0.00% 0.00% 0.00% 0.0
0.00% 0.00% 0.00% 0.00% 0.00% 0.0
nes en esta partida de activo intangible en los ultimos 4 años, así mismo desde el 2016 ya no se cuenta con este activo intangible, asumiremos que U
nes en esta partida de activo intangible en los ultimos 4 años, así mismo desde el 2016 ya no se cuenta con este activo intangible, asumiremos que U
ación acumuladas Años de depreciación implícitos

2015 2016 2017 2018 Promedio 2013
2.42% 2.42% 30.12% 14.23% 2.42% 41.3
0.00% 0.00% 0.00% 0.00% 0.00% 0.0
13.41% 15.13% 15.89% 15.95% 15.68% 10.0
0.22% 1.39% 0.00% 0.00% 0.47% 461.4
0.00% 0.00% 0.00% 0.00% 0.00% 0.0
0.21% 6.85% 61.38% 27.93% 32.05% 0.8
Transferencias de Obras en curso 2018
Obras en curso - 181,285.00
Edificios y construcciones 60,951.00
Instalaciones diversas 5,836.00
Maquinaria y equipo 110,046.00
Equipos diversos 4,452.00
-
os de depreciación implícitos
2014 2015 2016 2017 2018 Promedio
129.7 156.2 163.1 5.3 142.1 23.3

0.0 0.0 0.0 0.0 0.0 0.0
16.3 26.2 8.2 11.5 73.6 15.5
25.5 25.7 26.4 23.9 24.2 25.1
48.1 40.9 20.8 14.5 18.8 23.2
18.0 17.9 18.3 18.3 18.7 18.2
7.8 7.9 9.3 13.1 36.0 10.7
26.8 29.3 33.4 35.9 48.1 33.3
15.6 16.6 17.6 21.6 20.5 18.1
0.0 0.0 0.0 0.0 0.0 0.0
0.0 0.0 0.0 0.0 0.0 0.0
te activo intangible, asumiremos que UNACEM no asumirá mayores inversiones por esta partida
te activo intangible, asumiremos que UNACEM no asumirá mayores inversiones por esta partida
os de depreciación implícitos
2014 2015 2016 2017 2018 Promedio
41.3 41.3 41.3 3.3 7.0 41.3
0.0 0.0 0.0 0.0 0.0 0.0
5.5 7.5 6.6 6.3 6.3 6.4
138.8 461.4 72.0 0.0 0.0 215.0
0.0 0.0 0.0 0.0 0.0 0.0
0.0 466.9 14.6 1.6 3.6 3.1
34%
3%
61%
2%
La amortización del año 2017 y 2018, tal como se señala en la nota, corresponde a una estimación de UNACEM por proyección de flujos
n de UNACEM por proyección de flujos, sin embargo tomaremos para la proyección los años previos a esta estimación puesto que las inversiones en
mación puesto que las inversiones en futuras no sustentarían una fuerte depreciación.
Estado separado de situación financiera
CUENTA 2019 2020
Activos
Activos Corrientes
Efectivo y Equivalentes al Efectivo 167,654 173,471
Cuentas por cobrar comerciales y otras cuentas por cobrar 370,917 390,408
Inventarios 642,403 682,090
Activos por Impuestos a las Ganancias 0 0
Otros Activos no financieros 8,534 8,534
Total Activos Corrientes 1,189,507 1,254,503
Inversiones en subsidiarias, negocios conjuntos y asociadas 3,390,222 3,390,222
Cuentas por cobrar comerciales y otras cuentas por cobrar 112,480 112,480
Propiedades, Planta y Equipo (neto) 3,809,415 3,778,879
Activos intangibles distintos de la plusvalia 33,456 34,763
Activos diferidos por desbroce, neto 113,584 109,068
Plusvalía 9,745 9,745
Total Activos No Corrientes 7,468,902 7,435,156
TOTAL DE ACTIVOS 8,658,409 8,689,659
Pasivos y Patrimonio
Pasivos Corrientes
Obligaciones financieras 339,962 313,103
Cuentas por pagar comerciales y otras cuentas por pagar 306,559 315,760
Ingresos diferidos 33,147 33,147
Otras provisiones 16,184 16,184
Pasivos por Impuestos a las Ganancias 0 0
Total Pasivos Corrientes 695,852 678,194
Otros Pasivos Financieros 2,726,009 2,446,122
Cuentas por pagar comerciales y otras cuentas por pagar 0 0
Otras provisiones 19,242 19,242
Pasivos por impuestos diferidos 474,980 474,980
Otros pasivos no financieros 12,427 12,427
Total Pasivos No Corrientes 3,232,657 2,952,771
TOTAL PASIVOS 3,928,509 3,630,965
Patrimonio
Capital Emitido 1,646,503 1,646,503
Otras Reservas de Capital 329,301 329,301
Resultados Acumulados 2,770,803 3,099,597
Otras Reservas de Patrimonio -16707 -16707
TOTAL PATRIMONIO 4,729,900 5,058,694
TOTAL PASIVO Y PATRIMONIO 8,658,409 8,689,659
0 0
Compras (Calculado) 2019 2020

Inv. Final - Inv. Inic + Costo de ventas 1,507,184 1,321,581
2021 2022 2023 2024 2025 2026
192,959 202,212 144,206 261,013 137,569 196,745

411,129 433,185 456,691 481,780 508,598 537,310
723,653 770,394 818,569 870,061 925,218 984,714
0 0 0 0 0 0
8,534 8,534 8,534 8,534 8,534 8,534
1,336,275 1,414,324 1,428,000 1,621,388 1,579,919 1,727,303
3,390,222 3,390,222 3,390,222 3,390,222 3,390,222 3,390,222

112,480 112,480 112,480 112,480 112,480 112,480
3,746,916 3,713,527 3,678,711 3,642,468 3,604,871 3,786,063
34,197 35,962 37,221 37,974 38,221 38,468
104,552 100,036 95,520 91,004 86,488 81,972
9,745 9,745 9,745 9,745 9,745 9,745
7,398,112 7,361,972 7,323,899 7,283,893 7,242,027 7,418,949
8,734,387 8,776,296 8,751,899 8,905,281 8,821,946 9,146,252
280,639 249,597 213,530 192,885 153,567 152,754

334,847 357,185 379,097 403,025 428,689 456,481
33,147 33,147 33,147 33,147 33,147 33,147
16,184 16,184 16,184 16,184 16,184 16,184
0 0 0 0 0 0
664,817 656,112 641,957 645,241 631,587 658,566
2,107,838 1,784,364 1,408,529 1,193,397 783,689 775,216

0 0 0 0 0 0
19,242 19,242 19,242 19,242 19,242 19,242
474,980 474,980 474,980 474,980 474,980 474,980
12,427 12,427 12,427 12,427 12,427 12,427
2,614,486 2,291,012 1,915,178 1,700,046 1,290,337 1,281,865
3,279,303 2,947,125 2,557,135 2,345,287 1,921,924 1,940,430
1,646,503 1,646,503 1,646,503 1,646,503 1,646,503 1,646,503

329,301 329,301 329,301 329,301 329,301 329,301
3,495,987 3,870,074 4,235,668 4,600,898 4,940,925 5,246,725
-16707 -16707 -16707 -16707 -16707 -16707
5,455,084 5,829,171 6,194,765 6,559,995 6,900,022 7,205,822
8,734,387 8,776,296 8,751,899 8,905,281 8,821,946 9,146,252
0 0 0 0 0 0
2021 2022 2023 2024 2025 2026

1,391,495 1,469,091 1,547,709 1,633,403 1,725,125 1,823,740
2027 2028 Análisis Ve
2019 2020 2021 2022
45,793 -58,311 2% 2% 2% 2%
568,104 601,189 B 4% 4% 5% 5%
1,048,572 1,117,234 C 7% 8% 8% 9%
0 0 D 0% 0% 0% 0%
8,534 8,534 D 0% 0% 0% 0%
1,671,003 1,668,646 14% 14% 15% 16%
0% 0% 0% 0%
3,390,222 3,390,222 E 39% 39% 39% 39%
112,480 112,480 F 1% 1% 1% 1%
3,966,044 4,144,816 AF1 44% 43% 43% 42%
38,714 38,961 AI1-AI2 0% 0% 0% 0%
77,456 72,940 G 1% 1% 1% 1%
9,745 9,745 AI2 0% 0% 0% 0%
7,594,662 7,769,164 86% 86% 85% 84%
9,265,665 9,437,811 100% 100% 100% 100%
0% 0% 0% 0%
0% 0% 0% 0%
140,557 141,120 H 4% 4% 3% 3%
486,228 518,244 I 4% 4% 4% 4%
33,147 33,147 J 0% 0% 0% 0%
16,184 16,184 K 0% 0% 0% 0%
0 0 L 0% 0% 0% 0%
676,116 708,695 8% 8% 8% 7%
0% 0% 0% 0%
648,126 653,992 M 31% 28% 24% 20%
0 0 N 0% 0% 0% 0%
19,242 19,242 O 0% 0% 0% 0%
474,980 474,980 P 5% 5% 5% 5%
12,427 12,427 Q 0% 0% 0% 0%
1,154,775 1,160,641 37% 34% 30% 26%
1,830,891 1,869,336 45% 42% 38% 34%
0% 0% 0% 0%
1,646,503 1,646,503 19% 19% 19% 19%
329,301 329,301 4% 4% 4% 4%
5,475,677 5,609,378 32% 36% 40% 44%
-16707 -16707 0% 0% 0% 0%
7,434,774 7,568,475 55% 58% 62% 66%
9,265,665 9,437,811 100% 100% 100% 100%
0 0
2027 2028
1,929,212 2,042,650
Análisis Vertical
2023 2024 2025 2026 2027 2028 2020
2% 3% 2% 2% 0% -1% 3%
5% 5% 6% 6% 6% 6% 5%
9% 10% 10% 11% 11% 12% 6%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
16% 18% 18% 19% 18% 18% 5%
0% 0% 0% 0% 0% 0% 0%
39% 38% 38% 37% 37% 36% 0%
1% 1% 1% 1% 1% 1% 0%
42% 41% 41% 41% 43% 44% -1%
0% 0% 0% 0% 0% 0% 4%
1% 1% 1% 1% 1% 1% -4%
0% 0% 0% 0% 0% 0% 0%
84% 82% 82% 81% 82% 82% 0%
100% 100% 100% 100% 100% 100% 0%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
2% 2% 2% 2% 2% 1% -8%
4% 5% 5% 5% 5% 5% 3%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
7% 7% 7% 7% 7% 8% -3%
0% 0% 0% 0% 0% 0% 0%
16% 13% 9% 8% 7% 7% -10%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
5% 5% 5% 5% 5% 5% 0%
0% 0% 0% 0% 0% 0% 0%
22% 19% 15% 14% 12% 12% -9%
29% 26% 22% 21% 20% 20% -8%
0% 0% 0% 0% 0% 0% 0%
19% 18% 19% 18% 18% 17% 0%
4% 4% 4% 4% 4% 3% 0%
48% 52% 56% 57% 59% 59% 12%
0% 0% 0% 0% 0% 0% 0%
71% 74% 78% 79% 80% 80% 7%
100% 100% 100% 100% 100% 100% 0%
2021 2022 2023 2024 2025 2026 2027
11% 5% -29% 81% -47% 43% -77%

5% 5% 5% 5% 6% 6% 6%
6% 6% 6% 6% 6% 6% 6%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
7% 6% 1% 14% -3% 9% -3%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
-1% -1% -1% -1% -1% 5% 5%
-2% 5% 4% 2% 1% 1% 1%
-4% -4% -5% -5% -5% -5% -6%
0% 0% 0% 0% 0% 0% 0%
0% 0% -1% -1% -1% 2% 2%
1% 0% 0% 2% -1% 4% 1%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
-10% -11% -14% -10% -20% -1% -8%
6% 7% 6% 6% 6% 6% 7%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
-2% -1% -2% 1% -2% 4% 3%
0% 0% 0% 0% 0% 0% 0%
-14% -15% -21% -15% -34% -1% -16%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
-11% -12% -16% -11% -24% -1% -10%
-10% -10% -13% -8% -18% 1% -6%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0%
13% 11% 9% 9% 7% 6% 4%
0% 0% 0% 0% 0% 0% 0%
8% 7% 6% 6% 5% 4% 3%
1% 0% 0% 2% -1% 4% 1%
2028
-227%
6%
7%
0%
0%
0%
0%
0%
0%
5%
1%
-6%
0%
2%
2%
0%
0%
0%
7%
0%
0%
0%
5%
0%
1%
0%
0%
0%
0%
1%
2%
0%
0%
0%
2%
0%
2%
2%
Estado separado de resultados
CUENTA 2019
Ingresos de Actividades Ordinarias 1,962,096
Costo de Ventas -1,217,895
Ganancia (Pérdida) Bruta 744,201
Gastos de Ventas y Distribución -66,618
Gastos de Administración -188,828
Otros Ingresos Operativos 226,390
Otros Gastos Operativos -35,495
Otras Ganancias (Pérdidas) 0
Ganancia (Pérdida) Operativa 679,650
Ingresos Financieros 10,125
Ingresos por Intereses calculados usando el Metodo de Interes Efectivo 0
Gastos Financieros -174,403

Ganancia (Pérdida) por Deterioro de Valor (Pérdidas Crediticias Esperadas o
0
Reversiones)
Otros Ingresos (Gastos) de las Subsidiarias, Asociadas y Negocios Conjuntos 0
Diferencias de Cambio Neto 15,664
Ganancia (Pérdida) antes de Impuestos 531,035

Ingreso (Gasto) por Impuesto -131,738
Ganancia (Pérdida) Neta del Ejercicio 399,297
Tasa de Impuesto Efectivo 24.8%
98,105
2020 2021 2022 2023 2024 2025
2,065,203 2,174,814 2,291,483 2,415,830 2,548,546 2,690,409
-1,281,895 -1,349,932 -1,422,350 -1,499,533 -1,581,911 -1,669,967
783,308 824,882 869,134 916,297 966,634 1,020,441
-70,119 -73,840 -77,801 -82,023 -86,529 -91,346
-198,751 -209,300 -220,528 -232,495 -245,267 -258,920
226,390 226,390 226,390 226,390 226,390 226,390
-35,495 -35,495 -35,495 -35,495 -35,495 -35,495
0 0 0 0 0 0
705,334 732,638 761,700 792,674 825,734 861,071
10,125 10,125 10,125 10,125 10,125 10,125
0 0 0 0 0 0
-165,824 -104,375 -128,264 -114,079 -86,704 -73,073

0 0 0 0 0 0
0 0 0 0 0 0
-5,801 -1,276 0 0 0 0
543,833 637,111 643,561 688,720 749,154 798,123

-129,338 -155,021 -157,205 -176,054 -191,260 -205,706
414,495 482,090 486,355 512,665 557,894 592,417
23.8% 24.3% 24.4% 25.6% 25.5% 25.8%
103,260 108,741 114,574 120,791 127,427 134,520
2,770,803
2026 2027 2028 2019 2020
2,842,294 3,005,187 3,180,202 I 100.0% 100.0%
-1,764,244 -1,865,354 -1,973,988 II -62.1% -62.1%
1,078,050 1,139,833 1,206,214 37.9% 37.9%
-96,503 -102,033 -107,975 III -3.4% -3.4%
-273,537 -289,213 -306,056 IV -9.6% -9.6%
226,390 226,390 226,390 V 11.5% 11.0%
-35,495 -35,495 -35,495 VI -1.8% -1.7%
0 0 0 0.0% 0.0%
898,906 939,482 983,078 34.6% 34.2%
10,125 10,125 10,125 VIII 0.5% 0.5%
0 0 0 0.0% 0.0%
-49,618 -53,685 -40,612 IX -8.9% -8.0%

0 0 0 0.0% 0.0%
0 0 0 0.0% 0.0%
0 0 0 X 0.8% -0.3%
859,413 895,922 952,591 27.1% 26.3%

-222,983 -233,845 -251,496 -6.7% -6.3%
636,430 662,077 701,096 20.4% 20.1%
25.9% 26.1% 26.4% VII
142,115 150,259 159,010

Análisis Vertical
2021 2022 2023 2024 2025 2026 2027 2028
100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
-62.1% -62.1% -62.1% -62.1% -62.1% -62.1% -62.1% -62.1%
37.9% 37.9% 37.9% 37.9% 37.9% 37.9% 37.9% 37.9%
-3.4% -3.4% -3.4% -3.4% -3.4% -3.4% -3.4% -3.4%
-9.6% -9.6% -9.6% -9.6% -9.6% -9.6% -9.6% -9.6%
10.4% 9.9% 9.4% 8.9% 8.4% 8.0% 7.5% 7.1%
-1.6% -1.5% -1.5% -1.4% -1.3% -1.2% -1.2% -1.1%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
33.7% 33.2% 32.8% 32.4% 32.0% 31.6% 31.3% 30.9%
0.5% 0.4% 0.4% 0.4% 0.4% 0.4% 0.3% 0.3%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
-4.8% -5.6% -4.7% -3.4% -2.7% -1.7% -1.8% -1.3%

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
-0.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
29.3% 28.1% 28.5% 29.4% 29.7% 30.2% 29.8% 30.0%

-7.1% -6.9% -7.3% -7.5% -7.6% -7.8% -7.8% -7.9%
22.2% 21.2% 21.2% 21.9% 22.0% 22.4% 22.0% 22.0%
2020 2021 2022 2023 2024 2025 2026 2027
5.3% 5.3% 5.4% 5.4% 5.5% 5.6% 5.6% 5.7%
5.3% 5.3% 5.4% 5.4% 5.5% 5.6% 5.6% 5.7%
5.3% 5.3% 5.4% 5.4% 5.5% 5.6% 5.6% 5.7%
5.3% 5.3% 5.4% 5.4% 5.5% 5.6% 5.6% 5.7%
5.3% 5.3% 5.4% 5.4% 5.5% 5.6% 5.6% 5.7%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
3.8% 3.9% 4.0% 4.1% 4.2% 4.3% 4.4% 4.5%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
-4.9% -37.1% 22.9% -11.1% -24.0% -15.7% -32.1% 8.2%

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
-137.0% -78.0% -100.0% 0.0% 0.0% 0.0% 0.0% 0.0%
2.4% 17.2% 1.0% 7.0% 8.8% 6.5% 7.7% 4.2%

-1.8% 19.9% 1.4% 12.0% 8.6% 7.6% 8.4% 4.9%
3.8% 16.3% 0.9% 5.4% 8.8% 6.2% 7.4% 4.0%
2028
5.8%
5.8%
5.8%
5.8%
5.8%
0.0%
0.0%
0.0%
4.6%
0.0%
0.0%
-24.4%
0.0%
0.0%
0.0%
6.3%
7.5%
5.9%
2014 2015 2016 2017 2018 2019E
Despacho (TM) 5,701 5,546 5,109 4,993 5,058 5,111
Ingresos (S/ millones) 1,883 1,949 1,865 1,863 1,969 1,962
EBITDA (S/ millones) 774 937 916 966 854 918
NOF (S/ millones) 526 620 693 657 615 666
CAPEX (S/ millones) 382 309 165 125 179 211
Depreciación (S/ millones) 183 186 202 256 237 238
RATIOS DE APALANCAMIENTO
Apalancamiento Financiero 0.57 0.58 0.55 0.50 0.48 0.45
Endeudamiento Total 1.31 1.35 1.20 1.00 0.94 0.83
RATIOS DE RENTABILIDAD
Margen Bruto 45.3% 43.1% 41.9% 38.8% 37.9% 37.9%
Margen Operativo 31.4% 38.5% 38.3% 38.1% 31.3% 34.6%
ROE 8.0% 3.6% 8.0% 10.9% 5.5% 8.4%
ROA 3.5% 1.5% 3.6% 5.4% 2.8% 4.6%
2020E 2021E 2022E 2023E 2024E 2025E 2026E 2027E
5,273 5,439 5,611 5,789 5,972 6,161 6,355 6,556
2,065 2,175 2,291 2,416 2,549 2,690 2,842 3,005
946 976 1,005 1,037 1,072 1,110 1,149 1,190
716 759 806 855 908 964 1,025 1,090
211 211 211 211 211 211 431 431
240 244 243 245 247 249 250 251
0.42 0.38 0.34 0.29 0.26 0.22 0.21 0.20

0.72 0.60 0.51 0.41 0.36 0.28 0.27 0.25
37.9% 37.9% 37.9% 37.9% 37.9% 37.9% 37.9% 37.9%

34.2% 33.7% 33.2% 32.8% 32.4% 32.0% 31.6% 31.3%
8.2% 8.8% 8.3% 8.3% 8.5% 8.6% 8.8% 8.9%
4.8% 5.5% 5.5% 5.9% 6.3% 6.7% 7.0% 7.1%
2028E
6,763
3,180
1,235
1,159
431
252
0.20
0.25
37.9%
30.9%
9.3%
7.4%
Security USGG10YR Index
Start Date 1/10/1998 0:00
End Date 12/31/2018 0:00
Period D
Datos de Bloomberg
Date PX_LAST PX_MID
12/31/2018 2.6842 2.6842
12/28/2018 2.7182 2.7182
12/27/2018 2.7666 2.7666
12/26/2018 2.8079 2.8079
12/25/2018 2.7383 2.7383
12/24/2018 2.7383 2.7383
12/21/2018 2.7902 2.7902
12/20/2018 2.8065 2.8065
12/19/2018 2.7548 2.7548
12/18/2018 2.8175 2.8175
12/17/2018 2.857 2.857
12/14/2018 2.8895 2.8895
12/13/2018 2.9131 2.9131
12/12/2018 2.9096 2.9096
12/11/2018 2.879 2.879
12/10/2018 2.8575 2.8575
12/7/2018 2.845 2.845
12/6/2018 2.8955 2.8955
12/5/2018 2.9136 2.9136
12/4/2018 2.9136 2.9136
12/3/2018 2.9697 2.9697
11/30/2018 2.9879 2.9879
11/29/2018 3.0298 3.0298
11/28/2018 3.059 3.059
11/27/2018 3.0572 3.0572
11/26/2018 3.0535 3.0535
11/23/2018 3.039 3.039
11/22/2018 3.0627 3.0627
11/21/2018 3.0627 3.0627
11/20/2018 3.0628 3.0628
11/19/2018 3.0628 3.0628
11/16/2018 3.0628 3.0628
11/15/2018 3.1103 3.1103
11/14/2018 3.125 3.125
11/13/2018 3.1397 3.1397
11/12/2018 3.1819 3.1819
11/9/2018 3.1819 3.1819
11/8/2018 3.2373 3.2373
11/7/2018 3.2355 3.2355
11/6/2018 3.2276 3.2276
11/5/2018 3.2008 3.2008
11/2/2018 3.2121 3.2121
11/1/2018 3.1303 3.1303
10/31/2018 3.1435 3.1435
10/30/2018 3.1227 3.1227
10/29/2018 3.0849 3.0849
10/26/2018 3.0755 3.0755
10/25/2018 3.1167 3.1167
10/24/2018 3.1035 3.1035
10/23/2018 3.1676 3.1676
10/22/2018 3.1978 3.1978
10/19/2018 3.1921 3.1921
10/18/2018 3.1786 3.1786
10/17/2018 3.205 3.205
10/16/2018 3.1633 3.1633
10/15/2018 3.1557 3.1557
10/12/2018 3.1613 3.1613
10/11/2018 3.1498 3.1498
10/10/2018 3.1629 3.1629
10/9/2018 3.2063 3.2063
10/8/2018 3.2328 3.2328
10/5/2018 3.2328 3.2328
10/4/2018 3.187 3.187
10/3/2018 3.1813 3.1813
10/2/2018 3.0631 3.0631
10/1/2018 3.0836 3.0836
9/28/2018 3.0612 3.0612
9/27/2018 3.0518 3.0518
9/26/2018 3.048 3.048
9/25/2018 3.0964 3.0964
9/24/2018 3.0889 3.0889
9/21/2018 3.0628 3.0628
9/20/2018 3.0626 3.0626
9/19/2018 3.0626 3.0626
9/18/2018 3.0551 3.0551
9/17/2018 2.9867 2.9867
9/14/2018 2.9959 2.9959
9/13/2018 2.97 2.97
9/12/2018 2.9626 2.9626
9/11/2018 2.9755 2.9755
9/10/2018 2.9314 2.9314
9/7/2018 2.9388 2.9388
9/6/2018 2.8731 2.8731
9/5/2018 2.9022 2.9022
9/4/2018 2.8985 2.8985
9/3/2018 2.8604 2.8604
8/31/2018 2.8604 2.8604
8/30/2018 2.855 2.855
8/29/2018 2.884 2.884
8/28/2018 2.8804 2.8804
8/27/2018 2.8459 2.8459
8/24/2018 2.8098 2.8098
8/23/2018 2.8261 2.8261
8/22/2018 2.8189 2.8189
8/21/2018 2.8298 2.8298
8/20/2018 2.819 2.819
8/17/2018 2.8605 2.8605
8/16/2018 2.8659 2.8659
8/15/2018 2.8623 2.8623
8/14/2018 2.8985 2.8985
8/13/2018 2.8786 2.8786
8/10/2018 2.8732 2.8732
8/9/2018 2.9258 2.9258
8/8/2018 2.96 2.96
8/7/2018 2.973 2.973
8/6/2018 2.9395 2.9395
8/3/2018 2.9488 2.9488
8/2/2018 2.9859 2.9859
8/1/2018 3.0064 3.0064
7/31/2018 2.9598 2.9598
7/30/2018 2.9728 2.9728
7/27/2018 2.9542 2.9542
7/26/2018 2.9764 2.9764
7/25/2018 2.9746 2.9746
7/24/2018 2.9486 2.9486
7/23/2018 2.9541 2.9541
7/20/2018 2.8931 2.8931
7/19/2018 2.838 2.838
7/18/2018 2.8692 2.8692
7/17/2018 2.86 2.86
7/16/2018 2.8582 2.8582
7/13/2018 2.8271 2.8271
7/12/2018 2.8454 2.8454
7/11/2018 2.8491 2.8491
7/10/2018 2.8491 2.8491
7/9/2018 2.8564 2.8564
7/6/2018 2.8217 2.8217
7/5/2018 2.8291 2.8291
7/4/2018 2.8309 2.8309
7/3/2018 2.8309 2.8309
7/2/2018 2.8711 2.8711
6/29/2018 2.8601 2.8601
6/28/2018 2.8365 2.8365
6/27/2018 2.8256 2.8256
6/26/2018 2.8766 2.8766
6/25/2018 2.8803 2.8803
6/22/2018 2.8949 2.8949
6/21/2018 2.8967 2.8967
6/20/2018 2.9389 2.9389
6/19/2018 2.8967 2.8967
6/18/2018 2.9169 2.9169
6/15/2018 2.9205 2.9205
6/14/2018 2.9351 2.9351
6/13/2018 2.9663 2.9663
6/12/2018 2.9608 2.9608
6/11/2018 2.9516 2.9516
6/8/2018 2.9461 2.9461
6/7/2018 2.9204 2.9204
6/6/2018 2.9717 2.9717
6/5/2018 2.9277 2.9277
6/4/2018 2.9424 2.9424
6/1/2018 2.9022 2.9022
5/31/2018 2.8586 2.8586
5/30/2018 2.855 2.855
5/29/2018 2.781 2.781
5/28/2018 2.9313 2.9313
5/25/2018 2.9313 2.9313
5/24/2018 2.977 2.977
5/23/2018 2.9935 2.9935
5/22/2018 3.0597 3.0597
5/21/2018 3.0596 3.0596
5/18/2018 3.0559 3.0559
5/17/2018 3.1112 3.1112
5/16/2018 3.0964 3.0964
5/15/2018 3.0723 3.0723
5/14/2018 3.0024 3.0024
5/11/2018 2.9695 2.9695
5/10/2018 2.9622 2.9622
5/9/2018 3.0042 3.0042
5/8/2018 2.976 2.976
5/7/2018 2.9497 2.9497
5/4/2018 2.9497 2.9497
5/3/2018 2.9458 2.9458
5/2/2018 2.9663 2.9663
5/1/2018 2.9644 2.9644
4/30/2018 2.9531 2.9531
4/27/2018 2.9568 2.9568
4/26/2018 2.9809 2.9809
4/25/2018 3.0259 3.0259
4/24/2018 2.9995 2.9995
4/23/2018 2.9752 2.9752
4/20/2018 2.9602 2.9602
4/19/2018 2.9098 2.9098
4/18/2018 2.8728 2.8728
4/17/2018 2.8285 2.8285
4/16/2018 2.8267 2.8267
4/13/2018 2.8267 2.8267
4/12/2018 2.8358 2.8358
4/11/2018 2.7808 2.7808
4/10/2018 2.8009 2.8009
4/9/2018 2.779 2.779
4/6/2018 2.7735 2.7735
4/5/2018 2.832 2.832
4/4/2018 2.8027 2.8027
4/3/2018 2.7753 2.7753
4/2/2018 2.7298 2.7298
3/30/2018 2.7389 2.7389
3/29/2018 2.7389 2.7389
3/28/2018 2.7807 2.7807
3/27/2018 2.7753 2.7753
3/26/2018 2.852 2.852
3/23/2018 2.8135 2.8135
3/22/2018 2.8244 2.8244
3/21/2018 2.883 2.883
3/20/2018 2.8959 2.8959
3/19/2018 2.8555 2.8555
3/16/2018 2.8445 2.8445
3/15/2018 2.828 2.828
3/14/2018 2.817 2.817
3/13/2018 2.8426 2.8426
3/12/2018 2.8681 2.8681
3/9/2018 2.8938 2.8938
3/8/2018 2.8571 2.8571
3/7/2018 2.8827 2.8827
3/6/2018 2.8863 2.8863
3/5/2018 2.8808 2.8808
3/2/2018 2.8643 2.8643
3/1/2018 2.8078 2.8078
2/28/2018 2.8606 2.8606
2/27/2018 2.8934 2.8934
2/26/2018 2.8623 2.8623
2/23/2018 2.866 2.866
2/22/2018 2.9207 2.9207
2/21/2018 2.95 2.95
2/20/2018 2.8896 2.8896
2/19/2018 2.8749 2.8749
2/16/2018 2.8749 2.8749
2/15/2018 2.9095 2.9095
2/14/2018 2.9022 2.9022
2/13/2018 2.8294 2.8294
2/12/2018 2.8585 2.8585
2/9/2018 2.8512 2.8512
2/8/2018 2.824 2.824
2/7/2018 2.8359 2.8359
2/6/2018 2.8016 2.8016
2/5/2018 2.7056 2.7056
2/2/2018 2.8411 2.8411
2/1/2018 2.7896 2.7896
1/31/2018 2.705 2.705
1/30/2018 2.7199 2.7199
1/29/2018 2.6936 2.6936
1/26/2018 2.6599 2.6599
1/25/2018 2.617 2.617
1/24/2018 2.6465 2.6465
1/23/2018 2.6131 2.6131
1/22/2018 2.65 2.65
1/19/2018 2.6592 2.6592
1/18/2018 2.6256 2.6256
1/17/2018 2.5904 2.5904
1/16/2018 2.5371 2.5371
1/15/2018 2.5462 2.5462
1/12/2018 2.5462 2.5462
1/11/2018 2.5367 2.5367
1/10/2018 2.5568 2.5568
1/9/2018 2.553 2.553
1/8/2018 2.48 2.48
1/5/2018 2.4763 2.4763
1/4/2018 2.4525 2.4525
1/3/2018 2.4471 2.4471
1/2/2018 2.4633 2.4633
1/1/2018 2.4054 2.4054
12/29/2017 2.4054 2.4054
12/28/2017 2.4305 2.4305
12/27/2017 2.4107 2.4107
12/26/2017 2.4756 2.4756
12/25/2017 2.481 2.481
12/22/2017 2.481 2.481
12/21/2017 2.4826 2.4826
12/20/2017 2.497 2.497
12/19/2017 2.4644 2.4644
12/18/2017 2.3942 2.3942
12/15/2017 2.353 2.353
12/14/2017 2.3493 2.3493
12/13/2017 2.3422 2.3422
12/12/2017 2.4011 2.4011
12/11/2017 2.3886 2.3886
12/8/2017 2.376 2.376
12/7/2017 2.3634 2.3634
12/6/2017 2.3385 2.3385
12/5/2017 2.3509 2.3509
12/4/2017 2.3723 2.3723
12/1/2017 2.3615 2.3615
11/30/2017 2.4097 2.4097
11/29/2017 2.3882 2.3882
11/28/2017 2.3277 2.3277
11/27/2017 2.3277 2.3277
11/24/2017 2.3418 2.3418
11/23/2017 2.3187 2.3187
11/22/2017 2.3187 2.3187
11/21/2017 2.3559 2.3559
11/20/2017 2.3666 2.3666
11/17/2017 2.3435 2.3435
11/16/2017 2.3753 2.3753
11/15/2017 2.3222 2.3222
11/14/2017 2.3717 2.3717
11/13/2017 2.4055 2.4055
11/10/2017 2.3984 2.3984
11/9/2017 2.3416 2.3416
11/8/2017 2.3343 2.3343
11/7/2017 2.3145 2.3145
11/6/2017 2.3163 2.3163
11/3/2017 2.3325 2.3325
11/2/2017 2.345 2.345
11/1/2017 2.3721 2.3721
10/31/2017 2.3793 2.3793
10/30/2017 2.3684 2.3684
10/27/2017 2.4064 2.4064
10/26/2017 2.4609 2.4609
10/25/2017 2.4317 2.4317
10/24/2017 2.4189 2.4189
10/23/2017 2.3664 2.3664
10/20/2017 2.3845 2.3845
10/19/2017 2.3178 2.3178
10/18/2017 2.3465 2.3465
10/17/2017 2.2998 2.2998
10/16/2017 2.3034 2.3034
10/13/2017 2.273 2.273
10/12/2017 2.3177 2.3177
10/11/2017 2.3481 2.3481
10/10/2017 2.3607 2.3607
10/9/2017 2.3589 2.3589
10/6/2017 2.3589 2.3589
10/5/2017 2.348 2.348
10/4/2017 2.3229 2.3229
10/3/2017 2.3229 2.3229
10/2/2017 2.3408 2.3408
9/29/2017 2.3336 2.3336
9/28/2017 2.3085 2.3085
9/27/2017 2.3103 2.3103
9/26/2017 2.2357 2.2357
9/25/2017 2.2198 2.2198
9/22/2017 2.2499 2.2499
9/21/2017 2.2765 2.2765
9/20/2017 2.2676 2.2676
9/19/2017 2.2446 2.2446
9/18/2017 2.2287 2.2287
9/15/2017 2.2023 2.2023
9/14/2017 2.1847 2.1847
9/13/2017 2.1883 2.1883
9/12/2017 2.1672 2.1672
9/11/2017 2.1306 2.1306
9/8/2017 2.0507 2.0507
9/7/2017 2.0387 2.0387
9/6/2017 2.1046 2.1046
9/5/2017 2.0596 2.0596
9/4/2017 2.1657 2.1657
9/1/2017 2.1657 2.1657
8/31/2017 2.117 2.117
8/30/2017 2.1309 2.1309
8/29/2017 2.1292 2.1292
8/28/2017 2.1571 2.1571
8/25/2017 2.1659 2.1659
8/24/2017 2.1939 2.1939
8/23/2017 2.166 2.166
8/22/2017 2.2131 2.2131
8/21/2017 2.1817 2.1817
8/18/2017 2.1939 2.1939
8/17/2017 2.1853 2.1853
8/16/2017 2.222 2.222
8/15/2017 2.2728 2.2728
8/14/2017 2.2185 2.2185
8/11/2017 2.1888 2.1888
8/10/2017 2.1975 2.1975
8/9/2017 2.2476 2.2476
8/8/2017 2.2619 2.2619
8/7/2017 2.253 2.253
8/4/2017 2.262 2.262
8/3/2017 2.2212 2.2212
8/2/2017 2.271 2.271
8/1/2017 2.2532 2.2532
7/31/2017 2.2942 2.2942
7/28/2017 2.2889 2.2889
7/27/2017 2.3103 2.3103
7/26/2017 2.2872 2.2872
7/25/2017 2.3354 2.3354
7/24/2017 2.2552 2.2552
7/21/2017 2.2375 2.2375
7/20/2017 2.2589 2.2589
7/19/2017 2.2696 2.2696
7/18/2017 2.259 2.259
7/17/2017 2.3141 2.3141
7/14/2017 2.3319 2.3319
7/13/2017 2.3444 2.3444
7/12/2017 2.3177 2.3177
7/11/2017 2.3605 2.3605
7/10/2017 2.373 2.373
7/7/2017 2.3856 2.3856
7/6/2017 2.3659 2.3659
7/5/2017 2.3232 2.3232
7/4/2017 2.3499 2.3499
7/3/2017 2.3499 2.3499
6/30/2017 2.3037 2.3037
6/29/2017 2.2666 2.2666
6/28/2017 2.2279 2.2279
6/27/2017 2.2051 2.2051
6/26/2017 2.137 2.137
6/23/2017 2.1423 2.1423
6/22/2017 2.1477 2.1477
6/21/2017 2.1634 2.1634
6/20/2017 2.1565 2.1565
6/19/2017 2.1879 2.1879
6/16/2017 2.1514 2.1514
6/15/2017 2.1637 2.1637
6/14/2017 2.1256 2.1256
6/13/2017 2.2109 2.2109
6/12/2017 2.2145 2.2145
6/9/2017 2.2005 2.2005
6/8/2017 2.1885 2.1885
6/7/2017 2.1729 2.1729
6/6/2017 2.1451 2.1451
6/5/2017 2.1817 2.1817
6/2/2017 2.1591 2.1591
6/1/2017 2.2114 2.2114
5/31/2017 2.2028 2.2028
5/30/2017 2.2098 2.2098
5/29/2017 2.2465 2.2465
5/26/2017 2.2465 2.2465
5/25/2017 2.2554 2.2554
5/24/2017 2.2502 2.2502
5/23/2017 2.2799 2.2799
5/22/2017 2.2537 2.2537
5/19/2017 2.2346 2.2346
5/18/2017 2.2294 2.2294
5/17/2017 2.2243 2.2243
5/16/2017 2.3257 2.3257
5/15/2017 2.3433 2.3433
5/12/2017 2.3257 2.3257
5/11/2017 2.3874 2.3874
5/10/2017 2.4141 2.4141
5/9/2017 2.3977 2.3977
5/8/2017 2.3868 2.3868
5/5/2017 2.3487 2.3487
5/4/2017 2.3541 2.3541
5/3/2017 2.318 2.318
5/2/2017 2.2803 2.2803
5/1/2017 2.318 2.318
4/28/2017 2.2802 2.2802
4/27/2017 2.2946 2.2946
4/26/2017 2.3035 2.3035
4/25/2017 2.3322 2.3322
4/24/2017 2.273 2.273
4/21/2017 2.248 2.248
4/20/2017 2.232 2.232
4/19/2017 2.2143 2.2143
4/18/2017 2.1682 2.1682
4/17/2017 2.2498 2.2498
4/14/2017 2.2374 2.2374
4/13/2017 2.2374 2.2374
4/12/2017 2.2392 2.2392
4/11/2017 2.2962 2.2962
4/10/2017 2.3661 2.3661
4/7/2017 2.3822 2.3822
4/6/2017 2.3408 2.3408
4/5/2017 2.3354 2.3354
4/4/2017 2.3605 2.3605
4/3/2017 2.3193 2.3193
3/31/2017 2.3874 2.3874
3/30/2017 2.4197 2.4197
3/29/2017 2.3765 2.3765
3/28/2017 2.4178 2.4178
3/27/2017 2.3782 2.3782
3/24/2017 2.4123 2.4123
3/23/2017 2.4194 2.4194
3/22/2017 2.405 2.405
3/21/2017 2.4175 2.4175
3/20/2017 2.4607 2.4607
3/17/2017 2.5005 2.5005
3/16/2017 2.5402 2.5402
3/15/2017 2.493 2.493
3/14/2017 2.6002 2.6002
3/13/2017 2.6258 2.6258
3/10/2017 2.5745 2.5745
3/9/2017 2.6053 2.6053
3/8/2017 2.5597 2.5597
3/7/2017 2.5179 2.5179
3/6/2017 2.4997 2.4997
3/3/2017 2.478 2.478
3/2/2017 2.4779 2.4779
3/1/2017 2.4526 2.4526
2/28/2017 2.3899 2.3899
2/27/2017 2.365 2.365
2/24/2017 2.3117 2.3117
2/23/2017 2.372 2.372
2/22/2017 2.4129 2.4129
2/21/2017 2.429 2.429
2/20/2017 2.4147 2.4147
2/17/2017 2.4147 2.4147
2/16/2017 2.4467 2.4467
2/15/2017 2.4932 2.4932
2/14/2017 2.4698 2.4698
2/13/2017 2.4358 2.4358
2/10/2017 2.4073 2.4073
2/9/2017 2.3948 2.3948
2/8/2017 2.3363 2.3363
2/7/2017 2.3931 2.3931
2/6/2017 2.4077 2.4077
2/3/2017 2.4648 2.4648
2/2/2017 2.4737 2.4737
2/1/2017 2.4699 2.4699
1/31/2017 2.4531 2.4531
1/30/2017 2.4881 2.4881
1/27/2017 2.4843 2.4843
1/26/2017 2.5043 2.5043
1/25/2017 2.5116 2.5116
1/24/2017 2.4652 2.4652
1/23/2017 2.3971 2.3971
1/20/2017 2.4668 2.4668
1/19/2017 2.4739 2.4739
1/18/2017 2.4296 2.4296
1/17/2017 2.3253 2.3253
1/16/2017 2.3964 2.3964
1/13/2017 2.3964 2.3964
1/12/2017 2.3631 2.3631
1/11/2017 2.3721 2.3721
1/10/2017 2.3757 2.3757
1/9/2017 2.3647 2.3647
1/6/2017 2.4193 2.4193
1/5/2017 2.3443 2.3443
1/4/2017 2.439 2.439
1/3/2017 2.4444 2.4444
1/2/2017 2.4443 2.4443
12/30/2016 2.4443 2.4443
12/29/2016 2.475 2.475
12/28/2016 2.508 2.508
12/27/2016 2.5596 2.5596
12/26/2016 2.5373 2.5373
12/23/2016 2.5373 2.5373
12/22/2016 2.5515 2.5515
12/21/2016 2.5348 2.5348
12/20/2016 2.5586 2.5586
12/19/2016 2.5382 2.5382
12/16/2016 2.5916 2.5916
12/15/2016 2.5967 2.5967
12/14/2016 2.5707 2.5707
12/13/2016 2.4713 2.4713
12/12/2016 2.4712 2.4712
12/9/2016 2.4675 2.4675
12/8/2016 2.4071 2.4071
12/7/2016 2.3401 2.3401
12/6/2016 2.3887 2.3887
12/5/2016 2.3941 2.3941
12/2/2016 2.3831 2.3831
12/1/2016 2.4481 2.4481
11/30/2016 2.3809 2.3809
11/29/2016 2.291 2.291
11/28/2016 2.3124 2.3124
11/25/2016 2.3572 2.3572
11/24/2016 2.3498 2.3498
11/23/2016 2.3498 2.3498
11/22/2016 2.3119 2.3119
11/21/2016 2.3154 2.3154
11/18/2016 2.3548 2.3548
11/17/2016 2.3026 2.3026
11/16/2016 2.2225 2.2225
11/15/2016 2.2189 2.2189
11/14/2016 2.2614 2.2614
11/11/2016 2.1501 2.1501
11/10/2016 2.1501 2.1501
11/9/2016 2.0571 2.0571
11/8/2016 1.8547 1.8547
11/7/2016 1.8261 1.8261
11/4/2016 1.7762 1.7762
11/3/2016 1.8115 1.8115
11/2/2016 1.8025 1.8025
11/1/2016 1.8274 1.8274
10/31/2016 1.8255 1.8255
10/28/2016 1.8468 1.8468
10/27/2016 1.8536 1.8536
10/26/2016 1.7931 1.7931
10/25/2016 1.756 1.756
10/24/2016 1.7647 1.7647
10/21/2016 1.7347 1.7347
10/20/2016 1.7556 1.7556
10/19/2016 1.7432 1.7432
10/18/2016 1.7379 1.7379
10/17/2016 1.766 1.766
10/14/2016 1.7977 1.7977
10/13/2016 1.7411 1.7411
10/12/2016 1.7692 1.7692
10/11/2016 1.7638 1.7638
10/10/2016 1.7181 1.7181
10/7/2016 1.7181 1.7181
10/6/2016 1.7372 1.7372
10/5/2016 1.7021 1.7021
10/4/2016 1.6864 1.6864
10/3/2016 1.6221 1.6221
9/30/2016 1.5944 1.5944
9/29/2016 1.5599 1.5599
9/28/2016 1.5719 1.5719
9/27/2016 1.5564 1.5564
9/26/2016 1.5839 1.5839
9/23/2016 1.6184 1.6184
9/22/2016 1.6183 1.6183
9/21/2016 1.6511 1.6511
9/20/2016 1.6892 1.6892
9/19/2016 1.7118 1.7118
9/16/2016 1.6926 1.6926
9/15/2016 1.6907 1.6907
9/14/2016 1.6976 1.6976
9/13/2016 1.7271 1.7271
9/12/2016 1.6629 1.6629
9/9/2016 1.6749 1.6749
9/8/2016 1.599 1.599
9/7/2016 1.5391 1.5391
9/6/2016 1.534 1.534
9/5/2016 1.6024 1.6024
9/2/2016 1.6024 1.6024
9/1/2016 1.5681 1.5681
8/31/2016 1.58 1.58
8/30/2016 1.5663 1.5663
8/29/2016 1.5595 1.5595
8/26/2016 1.6296 1.6296
8/25/2016 1.5731 1.5731
8/24/2016 1.5611 1.5611
8/23/2016 1.5458 1.5458
8/22/2016 1.5424 1.5424
8/19/2016 1.5781 1.5781
8/18/2016 1.5356 1.5356
8/17/2016 1.5491 1.5491
8/16/2016 1.5746 1.5746
8/15/2016 1.5576 1.5576
8/12/2016 1.5135 1.5135
8/11/2016 1.5593 1.5593
8/10/2016 1.5074 1.5074
8/9/2016 1.547 1.547
8/8/2016 1.592 1.592
8/5/2016 1.5885 1.5885
8/4/2016 1.5008 1.5008
8/3/2016 1.542 1.542
8/2/2016 1.5558 1.5558
8/1/2016 1.5214 1.5214
7/29/2016 1.4531 1.4531
7/28/2016 1.5044 1.5044
7/27/2016 1.4976 1.4976
7/26/2016 1.5611 1.5611
7/25/2016 1.5731 1.5731
7/22/2016 1.5663 1.5663
7/21/2016 1.556 1.556
7/20/2016 1.5801 1.5801
7/19/2016 1.5526 1.5526
7/18/2016 1.5818 1.5818
7/15/2016 1.5509 1.5509
7/14/2016 1.5356 1.5356
7/13/2016 1.4743 1.4743
7/12/2016 1.51 1.51
7/11/2016 1.4303 1.4303
7/8/2016 1.3579 1.3579
7/7/2016 1.385 1.385
7/6/2016 1.3682 1.3682
7/5/2016 1.375 1.375
7/4/2016 1.4441 1.4441
7/1/2016 1.4441 1.4441
6/30/2016 1.4697 1.4697
6/29/2016 1.5155 1.5155
6/28/2016 1.4664 1.4664
6/27/2016 1.4377 1.4377
6/24/2016 1.5599 1.5599
6/23/2016 1.7458 1.7458
6/22/2016 1.6852 1.6852
6/21/2016 1.7059 1.7059
6/20/2016 1.6886 1.6886
6/17/2016 1.6078 1.6078
6/16/2016 1.5788 1.5788
6/15/2016 1.572 1.572
6/14/2016 1.613 1.613
6/13/2016 1.6096 1.6096
6/10/2016 1.6404 1.6404
6/9/2016 1.6867 1.6867
6/8/2016 1.7022 1.7022
6/7/2016 1.7177 1.7177
6/6/2016 1.7367 1.7367
6/3/2016 1.7004 1.7004
6/2/2016 1.7989 1.7989
6/1/2016 1.8354 1.8354
5/31/2016 1.8458 1.8458
5/30/2016 1.851 1.851
5/27/2016 1.851 1.851
5/26/2016 1.8282 1.8282
5/25/2016 1.8664 1.8664
5/24/2016 1.8629 1.8629
5/23/2016 1.835 1.835
5/20/2016 1.8384 1.8384
5/19/2016 1.8487 1.8487
5/18/2016 1.8538 1.8538
5/17/2016 1.7723 1.7723
5/16/2016 1.7533 1.7533
5/13/2016 1.7001 1.7001
5/12/2016 1.7516 1.7516
5/11/2016 1.7367 1.7367
5/10/2016 1.7613 1.7613
5/9/2016 1.7507 1.7507
5/6/2016 1.7789 1.7789
5/5/2016 1.7453 1.7453
5/4/2016 1.7752 1.7752
5/3/2016 1.7963 1.7963
5/2/2016 1.8723 1.8723
4/29/2016 1.8333 1.8333
4/28/2016 1.8243 1.8243
4/27/2016 1.8508 1.8508
4/26/2016 1.9271 1.9271
4/25/2016 1.9128 1.9128
4/22/2016 1.8878 1.8878
4/21/2016 1.861 1.861
4/20/2016 1.845 1.845
4/19/2016 1.7851 1.7851
4/18/2016 1.7711 1.7711
4/15/2016 1.7518 1.7518
4/14/2016 1.7919 1.7919
4/13/2016 1.7639 1.7639
4/12/2016 1.7761 1.7761
4/11/2016 1.7254 1.7254
4/8/2016 1.7167 1.7167
4/7/2016 1.6889 1.6889
4/6/2016 1.7549 1.7549
4/5/2016 1.7201 1.7201
4/4/2016 1.7618 1.7618
4/1/2016 1.7705 1.7705
3/31/2016 1.7687 1.7687
3/30/2016 1.8228 1.8228
3/29/2016 1.8035 1.8035
3/28/2016 1.886 1.886
3/25/2016 1.9 1.9
3/24/2016 1.9 1.9
3/23/2016 1.8786 1.8786
3/22/2016 1.9403 1.9403
3/21/2016 1.9155 1.9155
3/18/2016 1.8732 1.8732
3/17/2016 1.8958 1.8958
3/16/2016 1.9081 1.9081
3/15/2016 1.9699 1.9699
3/14/2016 1.9592 1.9592
3/11/2016 1.9839 1.9839
3/10/2016 1.9323 1.9323
3/9/2016 1.876 1.876
3/8/2016 1.8287 1.8287
3/7/2016 1.9057 1.9057
3/4/2016 1.8741 1.8741
3/3/2016 1.8337 1.8337
3/2/2016 1.8406 1.8406
3/1/2016 1.8249 1.8249
2/29/2016 1.7347 1.7347
2/26/2016 1.7623 1.7623
2/25/2016 1.7157 1.7157
2/24/2016 1.7484 1.7484
2/23/2016 1.7225 1.7225
2/22/2016 1.7518 1.7518
2/19/2016 1.7449 1.7449
2/18/2016 1.7396 1.7396
2/17/2016 1.819 1.819
2/16/2016 1.7723 1.7723
2/15/2016 1.7481 1.7481
2/12/2016 1.7481 1.7481
2/11/2016 1.6591 1.6591
2/10/2016 1.6681 1.6681
2/9/2016 1.726 1.726
2/8/2016 1.7483 1.7483
2/5/2016 1.8357 1.8357
2/4/2016 1.8395 1.8395
2/3/2016 1.8861 1.8861
2/2/2016 1.8448 1.8448
2/1/2016 1.9486 1.9486
1/29/2016 1.9209 1.9209
1/28/2016 1.9784 1.9784
1/27/2016 1.9993 1.9993
1/26/2016 1.9942 1.9942
1/25/2016 2.0012 2.0012
1/22/2016 2.0519 2.0519
1/21/2016 2.0311 2.0311
1/20/2016 1.9824 1.9824
1/19/2016 2.0556 2.0556
1/18/2016 2.0347 2.0347
1/15/2016 2.0347 2.0347
1/14/2016 2.0874 2.0874
1/13/2016 2.0927 2.0927
1/12/2016 2.1032 2.1032
1/11/2016 2.1754 2.1754
1/8/2016 2.1156 2.1156
1/7/2016 2.1455 2.1455
1/6/2016 2.1702 2.1702
1/5/2016 2.2357 2.2357
1/4/2016 2.2428 2.2428
1/1/2016 2.2694 2.2694
12/31/2015 2.2694 2.2694
12/30/2015 2.2943 2.2943
12/29/2015 2.305 2.305
12/28/2015 2.2304 2.2304
12/25/2015 2.241 2.241
12/24/2015 2.241 2.241
12/23/2015 2.2534 2.2534
12/22/2015 2.2357 2.2357
12/21/2015 2.1917 2.1917
12/18/2015 2.204 2.204
12/17/2015 2.2234 2.2234
12/16/2015 2.296 2.296
12/15/2015 2.2658 2.2658
12/14/2015 2.2217 2.2217
12/11/2015 2.127 2.127
12/10/2015 2.2305 2.2305
12/9/2015 2.2164 2.2164
12/8/2015 2.2182 2.2182
12/7/2015 2.2288 2.2288
12/4/2015 2.2693 2.2693
12/3/2015 2.3136 2.3136
12/2/2015 2.1797 2.1797
12/1/2015 2.1431 2.1431
11/30/2015 2.206 2.206
11/27/2015 2.2201 2.2201
11/26/2015 2.2341 2.2341
11/25/2015 2.2341 2.2341
11/24/2015 2.2377 2.2377
11/23/2015 2.2377 2.2377
11/20/2015 2.2623 2.2623
11/19/2015 2.2482 2.2482
11/18/2015 2.2728 2.2728
11/17/2015 2.2658 2.2658
11/16/2015 2.2676 2.2676
11/13/2015 2.2658 2.2658
11/12/2015 2.3116 2.3116
11/11/2015 2.3301 2.3301
11/10/2015 2.3419 2.3419
11/9/2015 2.3436 2.3436
11/6/2015 2.3252 2.3252
11/5/2015 2.2323 2.2323
11/4/2015 2.225 2.225
11/3/2015 2.2105 2.2105
11/2/2015 2.1709 2.1709
10/30/2015 2.1421 2.1421
10/29/2015 2.1725 2.1725
10/28/2015 2.1009 2.1009
10/27/2015 2.037 2.037
10/26/2015 2.0564 2.0564
10/23/2015 2.0866 2.0866
10/22/2015 2.0263 2.0263
10/21/2015 2.0228 2.0228
10/20/2015 2.067 2.067
10/19/2015 2.0228 2.0228
10/16/2015 2.0334 2.0334
10/15/2015 2.0175 2.0175
10/14/2015 1.9718 1.9718
10/13/2015 2.0439 2.0439
10/12/2015 2.0881 2.0881
10/9/2015 2.0881 2.0881
10/8/2015 2.104 2.104
10/7/2015 2.0668 2.0668
10/6/2015 2.0315 2.0315
10/5/2015 2.0562 2.0562
10/2/2015 1.9929 1.9929
10/1/2015 2.0368 2.0368
9/30/2015 2.0368 2.0368
9/29/2015 2.0508 2.0508
9/28/2015 2.0949 2.0949
9/25/2015 2.1623 2.1623
9/24/2015 2.1266 2.1266
9/23/2015 2.1497 2.1497
9/22/2015 2.1337 2.1337
9/21/2015 2.2012 2.2012
9/18/2015 2.1336 2.1336
9/17/2015 2.1903 2.1903
9/16/2015 2.294 2.294
9/15/2015 2.2867 2.2867
9/14/2015 2.1831 2.1831
9/11/2015 2.1883 2.1883
9/10/2015 2.222 2.222
9/9/2015 2.2006 2.2006
9/8/2015 2.1828 2.1828
9/7/2015 2.1244 2.1244
9/4/2015 2.1244 2.1244
9/3/2015 2.1596 2.1596
9/2/2015 2.1843 2.1843
9/1/2015 2.1524 2.1524
8/31/2015 2.2179 2.2179
8/28/2015 2.1807 2.1807
8/27/2015 2.1841 2.1841
8/26/2015 2.1752 2.1752
8/25/2015 2.0714 2.0714
8/24/2015 2.0034 2.0034
8/21/2015 2.0365 2.0365
8/20/2015 2.0679 2.0679
8/19/2015 2.1256 2.1256
8/18/2015 2.1925 2.1925
8/17/2015 2.1678 2.1678
8/14/2015 2.1977 2.1977
8/13/2015 2.1854 2.1854
8/12/2015 2.148 2.148
8/11/2015 2.1409 2.1409
8/10/2015 2.2269 2.2269
8/7/2015 2.1623 2.1623
8/6/2015 2.2214 2.2214
8/5/2015 2.2699 2.2699
8/4/2015 2.2213 2.2213
8/3/2015 2.148 2.148
7/31/2015 2.1801 2.1801
7/30/2015 2.2589 2.2589
7/29/2015 2.2859 2.2859
7/28/2015 2.2499 2.2499
7/27/2015 2.2175 2.2175
7/24/2015 2.2624 2.2624
7/23/2015 2.2677 2.2677
7/22/2015 2.3235 2.3235
7/21/2015 2.3253 2.3253
7/20/2015 2.3723 2.3723
7/17/2015 2.3469 2.3469
7/16/2015 2.3503 2.3503
7/15/2015 2.3521 2.3521
7/14/2015 2.401 2.401
7/13/2015 2.4538 2.4538
7/10/2015 2.3972 2.3972
7/9/2015 2.3211 2.3211
7/8/2015 2.1922 2.1922
7/7/2015 2.2582 2.2582
7/6/2015 2.285 2.285
7/3/2015 2.3823 2.3823
7/2/2015 2.3823 2.3823
7/1/2015 2.4219 2.4219
6/30/2015 2.3531 2.3531
6/29/2015 2.3242 2.3242
6/26/2015 2.4726 2.4726
6/25/2015 2.4088 2.4088
6/24/2015 2.3672 2.3672
6/23/2015 2.4087 2.4087
6/22/2015 2.3725 2.3725
6/19/2015 2.2577 2.2577
6/18/2015 2.3345 2.3345
6/17/2015 2.3165 2.3165
6/16/2015 2.3093 2.3093
6/15/2015 2.3559 2.3559
6/12/2015 2.3918 2.3918
6/11/2015 2.3772 2.3772
6/10/2015 2.4838 2.4838
6/9/2015 2.4384 2.4384
6/8/2015 2.3824 2.3824
6/5/2015 2.4076 2.4076
6/4/2015 2.307 2.307
6/3/2015 2.3642 2.3642
6/2/2015 2.2624 2.2624
6/1/2015 2.1794 2.1794
5/29/2015 2.1214 2.1214
5/28/2015 2.1355 2.1355
5/27/2015 2.1285 2.1285
5/26/2015 2.139 2.139
5/25/2015 2.2092 2.2092
5/22/2015 2.2092 2.2092
5/21/2015 2.1898 2.1898
5/20/2015 2.2479 2.2479
5/19/2015 2.2886 2.2886
5/18/2015 2.2337 2.2337
5/15/2015 2.1424 2.1424
5/14/2015 2.2301 2.2301
5/13/2015 2.2926 2.2926
5/12/2015 2.2489 2.2489
5/11/2015 2.2797 2.2797
5/8/2015 2.1478 2.1478
5/7/2015 2.18 2.18
5/6/2015 2.2431 2.2431
5/5/2015 2.1853 2.1853
5/4/2015 2.144 2.144
5/1/2015 2.1135 2.1135
4/30/2015 2.0317 2.0317
4/29/2015 2.0388 2.0388
4/28/2015 2.0034 2.0034
4/27/2015 1.9208 1.9208
4/24/2015 1.9086 1.9086
4/23/2015 1.9577 1.9577
4/22/2015 1.9788 1.9788
4/21/2015 1.9087 1.9087
4/20/2015 1.8896 1.8896
4/17/2015 1.8653 1.8653
4/16/2015 1.8897 1.8897
4/15/2015 1.888 1.888
4/14/2015 1.8985 1.8985
4/13/2015 1.9272 1.9272
4/10/2015 1.9473 1.9473
4/9/2015 1.9596 1.9596
4/8/2015 1.9047 1.9047
4/7/2015 1.8848 1.8848
4/6/2015 1.8952 1.8952
4/3/2015 1.8389 1.8389
4/2/2015 1.9117 1.9117
4/1/2015 1.8573 1.8573
3/31/2015 1.9231 1.9231
3/30/2015 1.9475 1.9475
3/27/2015 1.9615 1.9615
3/26/2015 1.9894 1.9894
3/25/2015 1.925 1.925
3/24/2015 1.8731 1.8731
3/23/2015 1.912 1.912
3/20/2015 1.9303 1.9303
3/19/2015 1.9685 1.9685
3/18/2015 1.9199 1.9199
3/17/2015 2.0507 2.0507
3/16/2015 2.0717 2.0717
3/13/2015 2.114 2.114
3/12/2015 2.1156 2.1156
3/11/2015 2.1086 2.1086
3/10/2015 2.1297 2.1297
3/9/2015 2.1907 2.1907
3/6/2015 2.2414 2.2414
3/5/2015 2.1154 2.1154
3/4/2015 2.1172 2.1172
3/3/2015 2.1189 2.1189
3/2/2015 2.082 2.082
2/27/2015 1.993 1.993
2/26/2015 2.0295 2.0295
2/25/2015 1.9688 1.9688
2/24/2015 1.98 1.98
2/23/2015 2.0574 2.0574
2/20/2015 2.1117 2.1117
2/19/2015 2.1142 2.1142
2/18/2015 2.08 2.08
2/17/2015 2.1379 2.1379
2/16/2015 2.0504 2.0504
2/13/2015 2.0504 2.0504
2/12/2015 1.9844 1.9844
2/11/2015 2.0176 2.0176
2/10/2015 1.9967 1.9967
2/9/2015 1.9775 1.9775
2/6/2015 1.9567 1.9567
2/5/2015 1.8204 1.8204
2/4/2015 1.7513 1.7513
2/3/2015 1.7915 1.7915
2/2/2015 1.6642 1.6642
1/30/2015 1.6407 1.6407
1/29/2015 1.7512 1.7512
1/28/2015 1.7207 1.7207
1/27/2015 1.8231 1.8231
1/26/2015 1.8241 1.8241
1/23/2015 1.7968 1.7968
1/22/2015 1.8631 1.8631
1/21/2015 1.8717 1.8717
1/20/2015 1.788 1.788
1/19/2015 1.8368 1.8368
1/16/2015 1.8368 1.8368
1/15/2015 1.7149 1.7149
1/14/2015 1.8553 1.8553
1/13/2015 1.9 1.9
1/12/2015 1.907 1.907
1/9/2015 1.9449 1.9449
1/8/2015 2.0179 2.0179
1/7/2015 1.9677 1.9677
1/6/2015 1.9402 1.9402
1/5/2015 2.032 2.032
1/2/2015 2.1105 2.1105
1/1/2015 2.1712 2.1712
12/31/2014 2.1712 2.1712
12/30/2014 2.1871 2.1871
12/29/2014 2.2021 2.2021
12/26/2014 2.2499 2.2499
12/25/2014 2.2632 2.2632
12/24/2014 2.2632 2.2632
12/23/2014 2.2614 2.2614
12/22/2014 2.1583 2.1583
12/19/2014 2.1618 2.1618
12/18/2014 2.2075 2.2075
12/17/2014 2.1356 2.1356
12/16/2014 2.0591 2.0591
12/15/2014 2.1182 2.1182
12/12/2014 2.0817 2.0817
12/11/2014 2.162 2.162
12/10/2014 2.1638 2.1638
12/9/2014 2.2129 2.2129
12/8/2014 2.257 2.257
12/5/2014 2.3065 2.3065
12/4/2014 2.2341 2.2341
12/3/2014 2.2799 2.2799
12/2/2014 2.2923 2.2923
12/1/2014 2.235 2.235
11/28/2014 2.164 2.164
11/27/2014 2.2447 2.2447
11/26/2014 2.2447 2.2447
11/25/2014 2.257 2.257
11/24/2014 2.3064 2.3064
11/21/2014 2.3099 2.3099
11/20/2014 2.3373 2.3373
11/19/2014 2.3594 2.3594
11/18/2014 2.3151 2.3151
11/17/2014 2.3399 2.3399
11/14/2014 2.3204 2.3204
11/13/2014 2.3399 2.3399
11/12/2014 2.3712 2.3712
11/11/2014 2.3604 2.3604
11/10/2014 2.3604 2.3604
11/7/2014 2.2976 2.2976
11/6/2014 2.3856 2.3856
11/5/2014 2.3424 2.3424
11/4/2014 2.3335 2.3335
11/3/2014 2.3425 2.3425
10/31/2014 2.3353 2.3353
10/30/2014 2.3058 2.3058
10/29/2014 2.3174 2.3174
10/28/2014 2.296 2.296
10/27/2014 2.2605 2.2605
10/24/2014 2.2685 2.2685
10/23/2014 2.2712 2.2712
10/22/2014 2.2164 2.2164
10/21/2014 2.2217 2.2217
10/20/2014 2.1909 2.1909
10/17/2014 2.1936 2.1936
10/16/2014 2.1559 2.1559
10/15/2014 2.1358 2.1358
10/14/2014 2.1973 2.1973
10/13/2014 2.2804 2.2804
10/10/2014 2.2804 2.2804
10/9/2014 2.3133 2.3133
10/8/2014 2.3213 2.3213
10/7/2014 2.3391 2.3391
10/6/2014 2.4196 2.4196
10/3/2014 2.434 2.434
10/2/2014 2.425 2.425
10/1/2014 2.3856 2.3856
9/30/2014 2.4888 2.4888
9/29/2014 2.4771 2.4771
9/26/2014 2.5276 2.5276
9/25/2014 2.5022 2.5022
9/24/2014 2.5637 2.5637
9/23/2014 2.5275 2.5275
9/22/2014 2.5636 2.5636
9/19/2014 2.5745 2.5745
9/18/2014 2.6144 2.6144
9/17/2014 2.6198 2.6198
9/16/2014 2.5924 2.5924
9/15/2014 2.5887 2.5887
9/12/2014 2.6105 2.6105
9/11/2014 2.5496 2.5496
9/10/2014 2.5414 2.5414
9/9/2014 2.5036 2.5036
9/8/2014 2.4712 2.4712
9/5/2014 2.4587 2.4587
9/4/2014 2.4497 2.4497
9/3/2014 2.3962 2.3962
9/2/2014 2.4211 2.4211
9/1/2014 2.3431 2.3431
8/29/2014 2.3431 2.3431
8/28/2014 2.3361 2.3361
8/27/2014 2.3573 2.3573
8/26/2014 2.3962 2.3962
8/25/2014 2.382 2.382
8/22/2014 2.4024 2.4024
8/21/2014 2.4068 2.4068
8/20/2014 2.4264 2.4264
8/19/2014 2.3997 2.3997
8/18/2014 2.3927 2.3927
8/15/2014 2.3397 2.3397
8/14/2014 2.4015 2.4015
8/13/2014 2.4166 2.4166
8/12/2014 2.4491 2.4491
8/11/2014 2.4275 2.4275
8/8/2014 2.4203 2.4203
8/7/2014 2.4114 2.4114
8/6/2014 2.4708 2.4708
8/5/2014 2.4844 2.4844
8/4/2014 2.4817 2.4817
8/1/2014 2.4925 2.4925
7/31/2014 2.5578 2.5578
7/30/2014 2.5569 2.5569
7/29/2014 2.4601 2.4601
7/28/2014 2.4853 2.4853
7/25/2014 2.4655 2.4655
7/24/2014 2.5025 2.5025
7/23/2014 2.4655 2.4655
7/22/2014 2.4601 2.4601
7/21/2014 2.4674 2.4674
7/18/2014 2.4809 2.4809
7/17/2014 2.4458 2.4458
7/16/2014 2.526 2.526
7/15/2014 2.5468 2.5468
7/14/2014 2.5468 2.5468
7/11/2014 2.516 2.516
7/10/2014 2.5359 2.5359
7/9/2014 2.5503 2.5503
7/8/2014 2.5557 2.5557
7/7/2014 2.611 2.611
7/4/2014 2.6383 2.6383
7/3/2014 2.6383 2.6383
7/2/2014 2.6264 2.6264
7/1/2014 2.5647 2.5647
6/30/2014 2.5304 2.5304
6/27/2014 2.534 2.534
6/26/2014 2.5286 2.5286
6/25/2014 2.5592 2.5592
6/24/2014 2.5781 2.5781
6/23/2014 2.6261 2.6261
6/20/2014 2.6052 2.6052
6/19/2014 2.6206 2.6206
6/18/2014 2.5844 2.5844
6/17/2014 2.6523 2.6523
6/16/2014 2.597 2.597
6/13/2014 2.6033 2.6033
6/12/2014 2.5951 2.5951
6/11/2014 2.6394 2.6394
6/10/2014 2.6439 2.6439
6/9/2014 2.6032 2.6032
6/6/2014 2.5869 2.5869
6/5/2014 2.5824 2.5824
6/4/2014 2.6021 2.6021
6/3/2014 2.5985 2.5985
6/2/2014 2.5267 2.5267
5/30/2014 2.4759 2.4759
5/29/2014 2.4644 2.4644
5/28/2014 2.4431 2.4431
5/27/2014 2.5142 2.5142
5/26/2014 2.5321 2.5321
5/23/2014 2.5321 2.5321
5/22/2014 2.5499 2.5499
5/21/2014 2.532 2.532
5/20/2014 2.5106 2.5106
5/19/2014 2.5445 2.5445
5/16/2014 2.5231 2.5231
5/15/2014 2.4893 2.4893
5/14/2014 2.5427 2.5427
5/13/2014 2.6089 2.6089
5/12/2014 2.6611 2.6611
5/9/2014 2.6233 2.6233
5/8/2014 2.6161 2.6161
5/7/2014 2.5878 2.5878
5/6/2014 2.5914 2.5914
5/5/2014 2.6068 2.6068
5/2/2014 2.5843 2.5843
5/1/2014 2.6133 2.6133
4/30/2014 2.6459 2.6459
4/29/2014 2.6913 2.6913
4/28/2014 2.7005 2.7005
4/25/2014 2.6623 2.6623
4/24/2014 2.6805 2.6805
4/23/2014 2.6987 2.6987
4/22/2014 2.7105 2.7105
4/21/2014 2.7151 2.7151
4/18/2014 2.7215 2.7215
4/17/2014 2.7215 2.7215
4/16/2014 2.6282 2.6282
4/15/2014 2.6283 2.6283
4/14/2014 2.6472 2.6472
4/11/2014 2.6247 2.6247
4/10/2014 2.6474 2.6474
4/9/2014 2.6898 2.6898
4/8/2014 2.6808 2.6808
4/7/2014 2.6998 2.6998
4/4/2014 2.7207 2.7207
4/3/2014 2.7972 2.7972
4/2/2014 2.8045 2.8045
4/1/2014 2.7525 2.7525
3/31/2014 2.718 2.718
3/28/2014 2.7208 2.7208
3/27/2014 2.681 2.681
3/26/2014 2.6919 2.6919
3/25/2014 2.748 2.748
3/24/2014 2.7281 2.7281
3/21/2014 2.7426 2.7426
3/20/2014 2.7716 2.7716
3/19/2014 2.7725 2.7725
3/18/2014 2.6722 2.6722
3/17/2014 2.6921 2.6921
3/14/2014 2.6543 2.6543
3/13/2014 2.6446 2.6446
3/12/2014 2.73 2.73
3/11/2014 2.768 2.768
3/10/2014 2.777 2.777
3/7/2014 2.7879 2.7879
3/6/2014 2.7373 2.7373
3/5/2014 2.7048 2.7048
3/4/2014 2.6977 2.6977
3/3/2014 2.6012 2.6012
2/28/2014 2.6476 2.6476
2/27/2014 2.6387 2.6387
2/26/2014 2.6655 2.6655
2/25/2014 2.7023 2.7023
2/24/2014 2.7382 2.7382
2/21/2014 2.731 2.731
2/20/2014 2.7509 2.7509
2/19/2014 2.7392 2.7392
2/18/2014 2.7069 2.7069
2/17/2014 2.7428 2.7428
2/14/2014 2.7428 2.7428
2/13/2014 2.732 2.732
2/12/2014 2.7608 2.7608
2/11/2014 2.725 2.725
2/10/2014 2.6674 2.6674
2/7/2014 2.6829 2.6829
2/6/2014 2.7003 2.7003
2/5/2014 2.6675 2.6675
2/4/2014 2.6294 2.6294
2/3/2014 2.5761 2.5761
1/31/2014 2.644 2.644
1/30/2014 2.6949 2.6949
1/29/2014 2.6767 2.6767
1/28/2014 2.7488 2.7488
1/27/2014 2.7479 2.7479
1/24/2014 2.715 2.715
1/23/2014 2.7772 2.7772
1/22/2014 2.8656 2.8656
1/21/2014 2.8286 2.8286
1/20/2014 2.8194 2.8194
1/17/2014 2.8194 2.8194
1/16/2014 2.8414 2.8414
1/15/2014 2.8912 2.8912
1/14/2014 2.8709 2.8709
1/13/2014 2.8257 2.8257
1/10/2014 2.8579 2.8579
1/9/2014 2.9652 2.9652
1/8/2014 2.9894 2.9894
1/7/2014 2.9391 2.9391
1/6/2014 2.9576 2.9576
1/3/2014 2.9948 2.9948
1/2/2014 2.989 2.989
1/1/2014 3.0282 3.0282
12/31/2013 3.0282 3.0282
12/30/2013 2.9703 2.9703
12/27/2013 3 3
12/26/2013 2.9905 2.9905
12/25/2013 2.9775 2.9775
12/24/2013 2.9775 2.9775
12/23/2013 2.9274 2.9274
12/20/2013 2.8886 2.8886
12/19/2013 2.9291 2.9291
12/18/2013 2.8931 2.8931
12/17/2013 2.8354 2.8354
12/16/2013 2.8784 2.8784
12/13/2013 2.8646 2.8646
12/12/2013 2.8773 2.8773
12/11/2013 2.8535 2.8535
12/10/2013 2.8006 2.8006
12/9/2013 2.8389 2.8389
12/6/2013 2.8553 2.8553
12/5/2013 2.8717 2.8717
12/4/2013 2.8342 2.8342
12/3/2013 2.7825 2.7825
12/2/2013 2.7951 2.7951
11/29/2013 2.7445 2.7445
11/28/2013 2.7373 2.7373
11/27/2013 2.7373 2.7373
11/26/2013 2.7077 2.7077
11/25/2013 2.7283 2.7283
11/22/2013 2.7427 2.7427
11/21/2013 2.7842 2.7842
11/20/2013 2.7987 2.7987
11/19/2013 2.7069 2.7069
11/18/2013 2.6658 2.6658
11/15/2013 2.7033 2.7033
11/14/2013 2.69 2.69
11/13/2013 2.6996 2.6996
11/12/2013 2.7728 2.7728
11/11/2013 2.7477 2.7477
11/8/2013 2.7477 2.7477
11/7/2013 2.5999 2.5999
11/6/2013 2.6421 2.6421
11/5/2013 2.6696 2.6696
11/4/2013 2.6035 2.6035
11/1/2013 2.6218 2.6218
10/31/2013 2.5542 2.5542
10/30/2013 2.5378 2.5378
10/29/2013 2.5034 2.5034
10/28/2013 2.5233 2.5233
10/25/2013 2.5088 2.5088
10/24/2013 2.5197 2.5197
10/23/2013 2.5016 2.5016
10/22/2013 2.5124 2.5124
10/21/2013 2.6014 2.6014
10/18/2013 2.5777 2.5777
10/17/2013 2.5894 2.5894
10/16/2013 2.6633 2.6633
10/15/2013 2.7276 2.7276
10/14/2013 2.6871 2.6871
10/11/2013 2.6871 2.6871
10/10/2013 2.6814 2.6814
10/9/2013 2.6631 2.6631
10/8/2013 2.632 2.632
10/7/2013 2.6265 2.6265
10/4/2013 2.6447 2.6447
10/3/2013 2.6046 2.6046
10/2/2013 2.6173 2.6173
10/1/2013 2.65 2.65
9/30/2013 2.61 2.61
9/27/2013 2.6245 2.6245
9/26/2013 2.6498 2.6498
9/25/2013 2.628 2.628
9/24/2013 2.6552 2.6552
9/23/2013 2.6999 2.6999
9/20/2013 2.7337 2.7337
9/19/2013 2.7519 2.7519
9/18/2013 2.6878 2.6878
9/17/2013 2.8468 2.8468
9/16/2013 2.8643 2.8643
9/13/2013 2.8846 2.8846
9/12/2013 2.9095 2.9095
9/11/2013 2.9122 2.9122
9/10/2013 2.9643 2.9643
9/9/2013 2.912 2.912
9/6/2013 2.9342 2.9342
9/5/2013 2.9937 2.9937
9/4/2013 2.8966 2.8966
9/3/2013 2.8576 2.8576
9/2/2013 2.7839 2.7839
8/30/2013 2.7839 2.7839
8/29/2013 2.7617 2.7617
8/28/2013 2.7653 2.7653
8/27/2013 2.7087 2.7087
8/26/2013 2.7853 2.7853
8/23/2013 2.8146 2.8146
8/22/2013 2.8844 2.8844
8/21/2013 2.8935 2.8935
8/20/2013 2.8142 2.8142
8/19/2013 2.8804 2.8804
8/16/2013 2.8251 2.8251
8/15/2013 2.7664 2.7664
8/14/2013 2.7136 2.7136
8/13/2013 2.719 2.719
8/12/2013 2.6206 2.6206
8/9/2013 2.5784 2.5784
8/8/2013 2.5892 2.5892
8/7/2013 2.5986 2.5986
8/6/2013 2.6421 2.6421
8/5/2013 2.6333 2.6333
8/2/2013 2.596 2.596
8/1/2013 2.706 2.706
7/31/2013 2.5762 2.5762
7/30/2013 2.6101 2.6101
7/29/2013 2.6023 2.6023
7/26/2013 2.5624 2.5624
7/25/2013 2.5712 2.5712
7/24/2013 2.588 2.588
7/23/2013 2.5049 2.5049
7/22/2013 2.4804 2.4804
7/19/2013 2.4839 2.4839
7/18/2013 2.5284 2.5284
7/17/2013 2.4888 2.4888
7/16/2013 2.5317 2.5317
7/15/2013 2.5372 2.5372
7/12/2013 2.5821 2.5821
7/11/2013 2.5721 2.5721
7/10/2013 2.6238 2.6238
7/9/2013 2.634 2.634
7/8/2013 2.6356 2.6356
7/5/2013 2.7391 2.7391
7/4/2013 2.5032 2.5032
7/3/2013 2.5032 2.5032
7/2/2013 2.4693 2.4693
7/1/2013 2.4765 2.4765
6/28/2013 2.4857 2.4857
6/27/2013 2.4721 2.4721
6/26/2013 2.5353 2.5353
6/25/2013 2.6082 2.6082
6/24/2013 2.5368 2.5368
6/21/2013 2.531 2.531
6/20/2013 2.4144 2.4144
6/19/2013 2.3527 2.3527
6/18/2013 2.1854 2.1854
6/17/2013 2.1817 2.1817
6/14/2013 2.1295 2.1295
6/13/2013 2.1489 2.1489
6/12/2013 2.228 2.228
6/11/2013 2.1846 2.1846
6/10/2013 2.2097 2.2097
6/7/2013 2.1718 2.1718
6/6/2013 2.0769 2.0769
6/5/2013 2.0892 2.0892
6/4/2013 2.1462 2.1462
6/3/2013 2.1193 2.1193
5/31/2013 2.1282 2.1282
5/30/2013 2.111 2.111
5/29/2013 2.1153 2.1153
5/28/2013 2.1652 2.1652
5/27/2013 2.0081 2.0081
5/24/2013 2.0081 2.0081
5/23/2013 2.0157 2.0157
5/22/2013 2.0395 2.0395
5/21/2013 1.9263 1.9263
5/20/2013 1.9647 1.9647
5/17/2013 1.9506 1.9506
5/16/2013 1.8809 1.8809
5/15/2013 1.9347 1.9347
5/14/2013 1.974 1.974
5/13/2013 1.9199 1.9199
5/10/2013 1.8973 1.8973
5/9/2013 1.8109 1.8109
5/8/2013 1.7665 1.7665
5/7/2013 1.7778 1.7778
5/6/2013 1.7588 1.7588
5/3/2013 1.7382 1.7382
5/2/2013 1.6255 1.6255
5/1/2013 1.629 1.629
4/30/2013 1.6717 1.6717
4/29/2013 1.6701 1.6701
4/26/2013 1.6633 1.6633
4/25/2013 1.708 1.708
4/24/2013 1.7047 1.7047
4/23/2013 1.7065 1.7065
4/22/2013 1.6929 1.6929
4/19/2013 1.7049 1.7049
4/18/2013 1.6847 1.6847
4/17/2013 1.695 1.695
4/16/2013 1.7224 1.7224
4/15/2013 1.6798 1.6798
4/12/2013 1.7208 1.7208
4/11/2013 1.7887 1.7887
4/10/2013 1.8034 1.8034
4/9/2013 1.7502 1.7502
4/8/2013 1.746 1.746
4/5/2013 1.7128 1.7128
4/4/2013 1.7625 1.7625
4/3/2013 1.8106 1.8106
4/2/2013 1.859 1.859
4/1/2013 1.8314 1.8314
3/29/2013 1.8486 1.8486
3/28/2013 1.8487 1.8487
3/27/2013 1.8454 1.8454
3/26/2013 1.9094 1.9094
3/25/2013 1.9198 1.9198
3/22/2013 1.925 1.925
3/21/2013 1.9112 1.9112
3/20/2013 1.9581 1.9581
3/19/2013 1.9017 1.9017
3/18/2013 1.9546 1.9546
3/15/2013 1.9895 1.9895
3/14/2013 2.0296 2.0296
3/13/2013 2.0209 2.0209
3/12/2013 2.0156 2.0156
3/11/2013 2.0576 2.0576
3/8/2013 2.0427 2.0427
3/7/2013 1.9965 1.9965
3/6/2013 1.9375 1.9375
3/5/2013 1.8978 1.8978
3/4/2013 1.8755 1.8755
3/1/2013 1.8412 1.8412
2/28/2013 1.8756 1.8756
2/27/2013 1.9014 1.9014
2/26/2013 1.8808 1.8808
2/25/2013 1.8637 1.8637
2/22/2013 1.9619 1.9619
2/21/2013 1.9766 1.9766
2/20/2013 2.0087 2.0087
2/19/2013 2.0278 2.0278
2/18/2013 2.0017 2.0017
2/15/2013 2.0017 2.0017
2/14/2013 1.9974 1.9974
2/13/2013 2.0277 2.0277
2/12/2013 1.977 1.977
2/11/2013 1.9635 1.9635
2/8/2013 1.9499 1.9499
2/7/2013 1.9568 1.9568
2/6/2013 1.9603 1.9603
2/5/2013 1.998 1.998
2/4/2013 1.9548 1.9548
2/1/2013 2.0149 2.0149
1/31/2013 1.9849 1.9849
1/30/2013 1.992 1.992
1/29/2013 1.9991 1.9991
1/28/2013 1.9613 1.9613
1/25/2013 1.9487 1.9487
1/24/2013 1.8498 1.8498
1/23/2013 1.8241 1.8241
1/22/2013 1.8417 1.8417
1/21/2013 1.8416 1.8416
1/18/2013 1.8416 1.8416
1/17/2013 1.8794 1.8794
1/16/2013 1.8185 1.8185
1/15/2013 1.836 1.836
1/14/2013 1.8448 1.8448
1/11/2013 1.8677 1.8677
1/10/2013 1.8958 1.8958
1/9/2013 1.8568 1.8568
1/8/2013 1.8683 1.8683
1/7/2013 1.8974 1.8974
1/4/2013 1.8991 1.8991
1/3/2013 1.9121 1.9121
1/2/2013 1.8371 1.8371
1/1/2013 1.7574 1.7574
12/31/2012 1.7574 1.7574
12/28/2012 1.7009 1.7009
12/27/2012 1.7364 1.7364
12/26/2012 1.7511 1.7511
12/25/2012 1.7737 1.7737
12/24/2012 1.7737 1.7737
12/21/2012 1.7623 1.7623
12/20/2012 1.7962 1.7962
12/19/2012 1.8014 1.8014
12/18/2012 1.817 1.817
12/17/2012 1.7717 1.7717
12/14/2012 1.7015 1.7015
12/13/2012 1.7299 1.7299
12/12/2012 1.698 1.698
12/11/2012 1.6541 1.6541
12/10/2012 1.6164 1.6164
12/7/2012 1.6215 1.6215
12/6/2012 1.5857 1.5857
12/5/2012 1.5875 1.5875
12/4/2012 1.6028 1.6028
12/3/2012 1.6207 1.6207
11/30/2012 1.6156 1.6156
11/29/2012 1.6147 1.6147
11/28/2012 1.6284 1.6284
11/27/2012 1.6369 1.6369
11/26/2012 1.6625 1.6625
11/23/2012 1.6899 1.6899
11/22/2012 1.6796 1.6796
11/21/2012 1.6796 1.6796
11/20/2012 1.6659 1.6659
11/19/2012 1.6131 1.6131
11/16/2012 1.58 1.58
11/15/2012 1.5928 1.5928
11/14/2012 1.5911 1.5911
11/13/2012 1.5945 1.5945
11/12/2012 1.6063 1.6063
11/9/2012 1.6063 1.6063
11/8/2012 1.6148 1.6148
11/7/2012 1.6466 1.6466
11/6/2012 1.7507 1.7507
11/5/2012 1.6841 1.6841
11/2/2012 1.7147 1.7147
11/1/2012 1.7242 1.7242
10/31/2012 1.6901 1.6901
10/30/2012 1.7189 1.7189
10/29/2012 1.7189 1.7189
10/26/2012 1.7451 1.7451
10/25/2012 1.8233 1.8233
10/24/2012 1.7889 1.7889
10/23/2012 1.7572 1.7572
10/22/2012 1.8134 1.8134
10/19/2012 1.7633 1.7633
10/18/2012 1.8344 1.8344
10/17/2012 1.8185 1.8185
10/16/2012 1.7186 1.7186
10/15/2012 1.663 1.663
10/12/2012 1.656 1.656
10/11/2012 1.6699 1.6699
10/10/2012 1.6742 1.6742
10/9/2012 1.7132 1.7132
10/8/2012 1.7428 1.7428
10/5/2012 1.7428 1.7428
10/4/2012 1.6732 1.6732
10/3/2012 1.6146 1.6146
10/2/2012 1.6198 1.6198
10/1/2012 1.6249 1.6249
9/28/2012 1.6335 1.6335
9/27/2012 1.6542 1.6542
9/26/2012 1.6095 1.6095
9/25/2012 1.6662 1.6662
9/24/2012 1.7094 1.7094
9/21/2012 1.7528 1.7528
9/20/2012 1.764 1.764
9/19/2012 1.7718 1.7718
9/18/2012 1.8083 1.8083
9/17/2012 1.8415 1.8415
9/14/2012 1.866 1.866
9/13/2012 1.723 1.723
9/12/2012 1.7576 1.7576
9/11/2012 1.7005 1.7005
9/10/2012 1.6541 1.6541
9/7/2012 1.6678 1.6678
9/6/2012 1.6781 1.6781
9/5/2012 1.596 1.596
9/4/2012 1.5722 1.5722
9/3/2012 1.5484 1.5484
8/31/2012 1.5484 1.5484
8/30/2012 1.6233 1.6233
8/29/2012 1.6506 1.6506
8/28/2012 1.6335 1.6335
8/27/2012 1.6506 1.6506
8/24/2012 1.6865 1.6865
8/23/2012 1.6779 1.6779
8/22/2012 1.6916 1.6916
8/21/2012 1.7984 1.7984
8/20/2012 1.8053 1.8053
8/17/2012 1.8105 1.8105
8/16/2012 1.8346 1.8346
8/15/2012 1.8155 1.8155
8/14/2012 1.7378 1.7378
8/13/2012 1.6642 1.6642
8/10/2012 1.6573 1.6573
8/9/2012 1.6881 1.6881
8/8/2012 1.6491 1.6491
8/7/2012 1.6283 1.6283
8/6/2012 1.5664 1.5664
8/3/2012 1.5631 1.5631
8/2/2012 1.4779 1.4779
8/1/2012 1.524 1.524
7/31/2012 1.4679 1.4679
7/30/2012 1.5019 1.5019
7/27/2012 1.5463 1.5463
7/26/2012 1.4378 1.4378
7/25/2012 1.3975 1.3975
7/24/2012 1.3875 1.3875
7/23/2012 1.4263 1.4263
7/20/2012 1.4567 1.4567
7/19/2012 1.5077 1.5077
7/18/2012 1.4942 1.4942
7/17/2012 1.5078 1.5078
7/16/2012 1.4724 1.4724
7/13/2012 1.4876 1.4876
7/12/2012 1.4743 1.4743
7/11/2012 1.5167 1.5167
7/10/2012 1.5015 1.5015
7/9/2012 1.5117 1.5117
7/6/2012 1.5491 1.5491
7/5/2012 1.5969 1.5969
7/4/2012 1.6294 1.6294
7/3/2012 1.6294 1.6294
7/2/2012 1.5885 1.5885
6/29/2012 1.6449 1.6449
6/28/2012 1.5768 1.5768
6/27/2012 1.6177 1.6177
6/26/2012 1.6262 1.6262
6/25/2012 1.6024 1.6024
6/22/2012 1.6742 1.6742
6/21/2012 1.6162 1.6162
6/20/2012 1.6572 1.6572
6/19/2012 1.6197 1.6197
6/18/2012 1.5738 1.5738
6/15/2012 1.5773 1.5773
6/14/2012 1.642 1.642
6/13/2012 1.5927 1.5927
6/12/2012 1.6642 1.6642
6/11/2012 1.586 1.586
6/8/2012 1.6353 1.6353
6/7/2012 1.6388 1.6388
6/6/2012 1.6592 1.6592
6/5/2012 1.5744 1.5744
6/4/2012 1.5239 1.5239
6/1/2012 1.452 1.452
5/31/2012 1.5578 1.5578
5/30/2012 1.622 1.622
5/29/2012 1.7448 1.7448
5/28/2012 1.738 1.738
5/25/2012 1.738 1.738
5/24/2012 1.7774 1.7774
5/23/2012 1.7346 1.7346
5/22/2012 1.7688 1.7688
5/21/2012 1.7414 1.7414
5/18/2012 1.7226 1.7226
5/17/2012 1.6971 1.6971
5/16/2012 1.7603 1.7603
5/15/2012 1.7671 1.7671
5/14/2012 1.7637 1.7637
5/11/2012 1.8376 1.8376
5/10/2012 1.867 1.867
5/9/2012 1.8227 1.8227
5/8/2012 1.8402 1.8402
5/7/2012 1.8716 1.8716
5/4/2012 1.8786 1.8786
5/3/2012 1.9312 1.9312
5/2/2012 1.9277 1.9277
5/1/2012 1.9435 1.9435
4/30/2012 1.9137 1.9137
4/27/2012 1.9348 1.9348
4/26/2012 1.9383 1.9383
4/25/2012 1.984 1.984
4/24/2012 1.9735 1.9735
4/23/2012 1.9349 1.9349
4/20/2012 1.9629 1.9629
4/19/2012 1.9665 1.9665
4/18/2012 1.9753 1.9753
4/17/2012 1.9981 1.9981
4/16/2012 1.9805 1.9805
4/13/2012 1.9823 1.9823
4/12/2012 2.051 2.051
4/11/2012 2.0351 2.0351
4/10/2012 1.9823 1.9823
4/9/2012 2.0474 2.0474
4/6/2012 2.0545 2.0545
4/5/2012 2.1805 2.1805
4/4/2012 2.2233 2.2233
4/3/2012 2.2988 2.2988
4/2/2012 2.182 2.182
3/30/2012 2.2088 2.2088
3/29/2012 2.1587 2.1587
3/28/2012 2.1997 2.1997
3/27/2012 2.1836 2.1836
3/26/2012 2.2479 2.2479
3/23/2012 2.2317 2.2317
3/22/2012 2.2781 2.2781
3/21/2012 2.296 2.296
3/20/2012 2.3591 2.3591
3/19/2012 2.3772 2.3772
3/16/2012 2.294 2.294
3/15/2012 2.2794 2.2794
3/14/2012 2.2686 2.2686
3/13/2012 2.1263 2.1263
3/12/2012 2.0331 2.0331
3/9/2012 2.0279 2.0279
3/8/2012 2.0121 2.0121
3/7/2012 1.9756 1.9756
3/6/2012 1.9427 1.9427
3/5/2012 2.0104 2.0104
3/2/2012 1.9739 1.9739
3/1/2012 2.0261 2.0261
2/29/2012 1.9705 1.9705
2/28/2012 1.9428 1.9428
2/27/2012 1.9255 1.9255
2/24/2012 1.9757 1.9757
2/23/2012 1.9965 1.9965
2/22/2012 2.0034 2.0034
2/21/2012 2.0591 2.0591
2/20/2012 2.0017 2.0017
2/17/2012 2.0017 2.0017
2/16/2012 1.9827 1.9827
2/15/2012 1.9275 1.9275
2/14/2012 1.9361 1.9361
2/13/2012 1.9741 1.9741
2/10/2012 1.9862 1.9862
2/9/2012 2.0364 2.0364
2/8/2012 1.9822 1.9822
2/7/2012 1.9734 1.9734
2/6/2012 1.9066 1.9066
2/3/2012 1.9224 1.9224
2/2/2012 1.8212 1.8212
2/1/2012 1.8265 1.8265
1/31/2012 1.7971 1.7971
1/30/2012 1.8439 1.8439
1/27/2012 1.891 1.891
1/26/2012 1.9313 1.9313
1/25/2012 1.9946 1.9946
1/24/2012 2.06 2.06
1/23/2012 2.0511 2.0511
1/20/2012 2.0246 2.0246
1/19/2012 1.977 1.977
1/18/2012 1.8983 1.8983
1/17/2012 1.8566 1.8566
1/16/2012 1.8636 1.8636
1/13/2012 1.8636 1.8636
1/12/2012 1.9228 1.9228
1/11/2012 1.9037 1.9037
1/10/2012 1.9683 1.9683
1/9/2012 1.9578 1.9578
1/6/2012 1.9578 1.9578
1/5/2012 1.9946 1.9946
1/4/2012 1.9771 1.9771
1/3/2012 1.9474 1.9474
1/2/2012 1.8762 1.8762
12/30/2011 1.8762 1.8762
12/29/2011 1.8988 1.8988
12/28/2011 1.9162 1.9162
12/27/2011 2.0052 2.0052
12/26/2011 2.0244 2.0244
12/23/2011 2.0244 2.0244
12/22/2011 1.9476 1.9476
12/21/2011 1.9668 1.9668
12/20/2011 1.9233 1.9233
12/19/2011 1.8096 1.8096
12/16/2011 1.8474 1.8474
12/15/2011 1.9079 1.9079
12/14/2011 1.9027 1.9027
12/13/2011 1.9651 1.9651
12/12/2011 2.0121 2.0121
12/9/2011 2.0611 2.0611
12/8/2011 1.9704 1.9704
12/7/2011 2.0296 2.0296
12/6/2011 2.0891 2.0891
12/5/2011 2.0436 2.0436
12/2/2011 2.0331 2.0331
12/1/2011 2.0873 2.0873
11/30/2011 2.068 2.068
11/29/2011 1.9913 1.9913
11/28/2011 1.9739 1.9739
11/25/2011 1.9635 1.9635
11/24/2011 1.8835 1.8835
11/23/2011 1.8835 1.8835
11/22/2011 1.917 1.917
11/21/2011 1.955 1.955
11/18/2011 2.0104 2.0104
11/17/2011 1.9602 1.9602
11/16/2011 2 2
11/15/2011 2.0451 2.0451
11/14/2011 2.0556 2.0556
11/11/2011 2.0564 2.0564
11/10/2011 2.0564 2.0564
11/9/2011 1.9615 1.9615
11/8/2011 2.0769 2.0769
11/7/2011 2.0371 2.0371
11/4/2011 2.0327 2.0327
11/3/2011 2.0734 2.0734
11/2/2011 1.9854 1.9854
11/1/2011 1.9889 1.9889
10/31/2011 2.1133 2.1133
10/28/2011 2.3167 2.3167
10/27/2011 2.3964 2.3964
10/26/2011 2.2041 2.2041
10/25/2011 2.1089 2.1089
10/24/2011 2.2336 2.2336
10/21/2011 2.2192 2.2192
10/20/2011 2.1888 2.1888
10/19/2011 2.1603 2.1603
10/18/2011 2.1763 2.1763
10/17/2011 2.155 2.155
10/14/2011 2.2477 2.2477
10/13/2011 2.1834 2.1834
10/12/2011 2.2101 2.2101
10/11/2011 2.1496 2.1496
10/10/2011 2.0764 2.0764
10/7/2011 2.0764 2.0764
10/6/2011 1.9872 1.9872
10/5/2011 1.8877 1.8877
10/4/2011 1.8207 1.8207
10/3/2011 1.756 1.756
9/30/2011 1.9154 1.9154
9/29/2011 1.9962 1.9962
9/28/2011 1.9797 1.9797
9/27/2011 1.9711 1.9711
9/26/2011 1.9002 1.9002
9/23/2011 1.8334 1.8334
9/22/2011 1.718 1.718
9/21/2011 1.8576 1.8576
9/20/2011 1.9385 1.9385
9/19/2011 1.9506 1.9506
9/16/2011 2.0479 2.0479
9/15/2011 2.082 2.082
9/14/2011 1.9837 1.9837
9/13/2011 1.9906 1.9906
9/12/2011 1.9475 1.9475
9/9/2011 1.9183 1.9183
9/8/2011 1.9787 1.9787
9/7/2011 2.0429 2.0429
9/6/2011 1.984 1.984
9/5/2011 1.9857 1.9857
9/2/2011 1.9857 1.9857
9/1/2011 2.1302 2.1302
8/31/2011 2.2234 2.2234
8/30/2011 2.1767 2.1767
8/29/2011 2.2561 2.2561
8/26/2011 2.1899 2.1899
8/25/2011 2.2286 2.2286
8/24/2011 2.2994 2.2994
8/23/2011 2.153 2.153
8/22/2011 2.1058 2.1058
8/19/2011 2.0623 2.0623
8/18/2011 2.0624 2.0624
8/17/2011 2.1652 2.1652
8/16/2011 2.2196 2.2196
8/15/2011 2.3053 2.3053
8/12/2011 2.2548 2.2548
8/11/2011 2.3399 2.3399
8/10/2011 2.1061 2.1061
8/9/2011 2.2488 2.2488
8/8/2011 2.3179 2.3179
8/5/2011 2.5585 2.5585
8/4/2011 2.4028 2.4028
8/3/2011 2.6202 2.6202
8/2/2011 2.6114 2.6114
8/1/2011 2.7437 2.7437
7/29/2011 2.7961 2.7961
7/28/2011 2.9454 2.9454
7/27/2011 2.9803 2.9803
7/26/2011 2.9529 2.9529
7/25/2011 3.0006 3.0006
7/22/2011 2.9621 2.9621
7/21/2011 3.0136 3.0136
7/20/2011 2.9275 2.9275
7/19/2011 2.8802 2.8802
7/18/2011 2.9276 2.9276
7/15/2011 2.9058 2.9058
7/14/2011 2.9534 2.9534
7/13/2011 2.8824 2.8824
7/12/2011 2.877 2.877
7/11/2011 2.9189 2.9189
7/8/2011 3.0268 3.0268
7/7/2011 3.1377 3.1377
7/6/2011 3.108 3.108
7/5/2011 3.121 3.121
7/4/2011 3.1823 3.1823
7/1/2011 3.1823 3.1823
6/30/2011 3.16 3.16
6/29/2011 3.1118 3.1118
6/28/2011 3.0308 3.0308
6/27/2011 2.9305 2.9305
6/24/2011 2.8636 2.8636
6/23/2011 2.9116 2.9116
6/22/2011 2.9825 2.9825
6/21/2011 2.9835 2.9835
6/20/2011 2.958 2.958
6/17/2011 2.9445 2.9445
6/16/2011 2.9274 2.9274
6/15/2011 2.9692 2.9692
6/14/2011 3.0972 3.0972
6/13/2011 2.9838 2.9838
6/10/2011 2.9693 2.9693
6/9/2011 2.9967 2.9967
6/8/2011 2.9387 2.9387
6/7/2011 2.9949 2.9949
6/6/2011 2.995 2.995
6/3/2011 2.9859 2.9859
6/2/2011 3.0297 3.0297
6/1/2011 2.9408 2.9408
5/31/2011 3.0607 3.0607
5/30/2011 3.0735 3.0735
5/27/2011 3.0735 3.0735
5/26/2011 3.0572 3.0572
5/25/2011 3.1304 3.1304
5/24/2011 3.1139 3.1139
5/23/2011 3.1286 3.1286
5/20/2011 3.1451 3.1451
5/19/2011 3.1709 3.1709
5/18/2011 3.1801 3.1801
5/17/2011 3.1158 3.1158
5/16/2011 3.147 3.147
5/13/2011 3.1709 3.1709
5/12/2011 3.2225 3.2225
5/11/2011 3.1593 3.1593
5/10/2011 3.2135 3.2135
5/9/2011 3.1604 3.1604
5/6/2011 3.1459 3.1459
5/5/2011 3.1499 3.1499
5/4/2011 3.2159 3.2159
5/3/2011 3.2473 3.2473
5/2/2011 3.2788 3.2788
4/29/2011 3.2863 3.2863
4/28/2011 3.3106 3.3106
4/27/2011 3.3552 3.3552
4/26/2011 3.307 3.307
4/25/2011 3.3627 3.3627
4/22/2011 3.3907 3.3907
4/21/2011 3.3963 3.3963
4/20/2011 3.4077 3.4077
4/19/2011 3.3631 3.3631
4/18/2011 3.3743 3.3743
4/15/2011 3.4079 3.4079
4/14/2011 3.4979 3.4979
4/13/2011 3.4585 3.4585
4/12/2011 3.4904 3.4904
4/11/2011 3.5847 3.5847
4/8/2011 3.5772 3.5772
4/7/2011 3.5451 3.5451
4/6/2011 3.5452 3.5452
4/5/2011 3.4795 3.4795
4/4/2011 3.4179 3.4179
4/1/2011 3.4422 3.4422
3/31/2011 3.4703 3.4703
3/30/2011 3.4349 3.4349
3/29/2011 3.4872 3.4872
3/28/2011 3.4313 3.4313
3/25/2011 3.4388 3.4388
3/24/2011 3.4037 3.4037
3/23/2011 3.3501 3.3501
3/22/2011 3.3263 3.3263
3/21/2011 3.3282 3.3282
3/18/2011 3.2678 3.2678
3/17/2011 3.255 3.255
3/16/2011 3.17 3.17
3/15/2011 3.303 3.303
3/14/2011 3.3563 3.3563
3/11/2011 3.4025 3.4025
3/10/2011 3.3584 3.3584
3/9/2011 3.4675 3.4675
3/8/2011 3.5477 3.5477
3/7/2011 3.5123 3.5123
3/4/2011 3.49 3.49
3/3/2011 3.5554 3.5554
3/2/2011 3.4697 3.4697
3/1/2011 3.3921 3.3921
2/28/2011 3.4272 3.4272
2/25/2011 3.4125 3.4125
2/24/2011 3.4477 3.4477
2/23/2011 3.4848 3.4848
2/22/2011 3.4533 3.4533
2/21/2011 3.5874 3.5874
2/18/2011 3.5799 3.5799
2/17/2011 3.5725 3.5725
2/16/2011 3.6193 3.6193
2/15/2011 3.6044 3.6044
2/14/2011 3.6194 3.6194
2/11/2011 3.6288 3.6288
2/10/2011 3.6928 3.6928
2/9/2011 3.6465 3.6465
2/8/2011 3.7373 3.7373
2/7/2011 3.6299 3.6299
2/4/2011 3.6356 3.6356
2/3/2011 3.5488 3.5488
2/2/2011 3.4771 3.4771
2/1/2011 3.4394 3.4394
1/31/2011 3.3704 3.3704
1/28/2011 3.3214 3.3214
1/27/2011 3.3873 3.3873
1/26/2011 3.4146 3.4146
1/25/2011 3.3284 3.3284
1/24/2011 3.4044 3.4044
1/21/2011 3.4042 3.4042
1/20/2011 3.4488 3.4488
1/19/2011 3.339 3.339
1/18/2011 3.3663 3.3663
1/17/2011 3.3291 3.3291
1/14/2011 3.3231 3.3231
1/13/2011 3.2972 3.2972
1/12/2011 3.365 3.365
1/11/2011 3.3396 3.3396
1/10/2011 3.2832 3.2832
1/7/2011 3.3237 3.3237
1/6/2011 3.3932 3.3932
1/5/2011 3.4654 3.4654
1/4/2011 3.3287 3.3287
1/3/2011 3.3324 3.3324
12/31/2010 3.2935 3.2935
12/30/2010 3.3646 3.3646
12/29/2010 3.3489 3.3489
12/28/2010 3.4795 3.4795
12/27/2010 3.3294 3.3294
12/24/2010 3.3933 3.3933
12/23/2010 3.3892 3.3892
12/22/2010 3.3458 3.3458
12/21/2010 3.3031 3.3031
12/20/2010 3.3358 3.3358
12/17/2010 3.3279 3.3279
12/16/2010 3.4224 3.4224
12/15/2010 3.5318 3.5318
12/14/2010 3.4727 3.4727
12/13/2010 3.275 3.275
12/10/2010 3.319 3.319
12/9/2010 3.2037 3.2037
12/8/2010 3.2723 3.2723
12/7/2010 3.1257 3.1257
12/6/2010 2.9201 2.9201
12/3/2010 3.0055 3.0055
12/2/2010 2.9885 2.9885
12/1/2010 2.9642 2.9642
11/30/2010 2.7968 2.7968
11/29/2010 2.8205 2.8205
11/26/2010 2.8663 2.8663
11/25/2010 2.9085 2.9085
11/24/2010 2.912 2.912
11/23/2010 2.7729 2.7729
11/22/2010 2.8019 2.8019
11/19/2010 2.8713 2.8713
11/18/2010 2.895 2.895
11/17/2010 2.8766 2.8766
11/16/2010 2.84 2.84
11/15/2010 2.9593 2.9593
11/12/2010 2.7871 2.7871
11/11/2010 2.6447 2.6447
11/10/2010 2.6286 2.6286
11/9/2010 2.6558 2.6558
11/8/2010 2.5502 2.5502
11/5/2010 2.5304 2.5304
11/4/2010 2.489 2.489
11/3/2010 2.5702 2.5702
11/2/2010 2.5866 2.5866
11/1/2010 2.6229 2.6229
10/29/2010 2.5993 2.5993
10/28/2010 2.6576 2.6576
10/27/2010 2.7198 2.7198
10/26/2010 2.6393 2.6393
10/25/2010 2.5613 2.5613
10/22/2010 2.5541 2.5541
10/21/2010 2.5452 2.5452
10/20/2010 2.4788 2.4788
10/19/2010 2.4752 2.4752
10/18/2010 2.5075 2.5075
10/15/2010 2.5597 2.5597
10/14/2010 2.5076 2.5076
10/13/2010 2.422 2.422
10/12/2010 2.4309 2.4309
10/11/2010 2.3919 2.3919
10/8/2010 2.392 2.392
10/7/2010 2.3834 2.3834
10/6/2010 2.3976 2.3976
10/5/2010 2.4722 2.4722
10/4/2010 2.4758 2.4758
10/1/2010 2.5097 2.5097
9/30/2010 2.5098 2.5098
9/29/2010 2.5027 2.5027
9/28/2010 2.4653 2.4653
9/27/2010 2.5242 2.5242
9/24/2010 2.605 2.605
9/23/2010 2.5511 2.5511
9/22/2010 2.5583 2.5583
9/21/2010 2.5727 2.5727
9/20/2010 2.7026 2.7026
9/17/2010 2.7372 2.7372
9/16/2010 2.7608 2.7608
9/15/2010 2.7207 2.7207
9/14/2010 2.679 2.679
9/13/2010 2.748 2.748
9/10/2010 2.7917 2.7917
9/9/2010 2.7588 2.7588
9/8/2010 2.6555 2.6555
9/7/2010 2.5944 2.5944
9/6/2010 2.7025 2.7025
9/3/2010 2.697 2.697
9/2/2010 2.6231 2.6231
9/1/2010 2.573 2.573
8/31/2010 2.4683 2.4683
8/30/2010 2.5285 2.5285
8/27/2010 2.6447 2.6447
8/26/2010 2.4755 2.4755
8/25/2010 2.534 2.534
8/24/2010 2.488 2.488
8/23/2010 2.5981 2.5981
8/20/2010 2.6106 2.6106
8/19/2010 2.575 2.575
8/18/2010 2.6321 2.6321
8/17/2010 2.6321 2.6321
8/16/2010 2.5626 2.5626
8/13/2010 2.6716 2.6716
8/12/2010 2.7455 2.7455
8/11/2010 2.6814 2.6814
8/10/2010 2.7593 2.7593
8/9/2010 2.8289 2.8289
8/6/2010 2.8166 2.8166
8/5/2010 2.9011 2.9011
8/4/2010 2.9498 2.9498
8/3/2010 2.9085 2.9085
8/2/2010 2.9609 2.9609
7/30/2010 2.9052 2.9052
7/29/2010 2.9794 2.9794
7/28/2010 2.985 2.985
7/27/2010 3.0485 3.0485
7/26/2010 2.9924 2.9924
7/23/2010 2.9943 2.9943
7/22/2010 2.9353 2.9353
7/21/2010 2.8782 2.8782
7/20/2010 2.9481 2.9481
7/19/2010 2.9537 2.9537
7/16/2010 2.9215 2.9215
7/15/2010 2.9937 2.9937
7/14/2010 3.0426 3.0426
7/13/2010 3.1208 3.1208
7/12/2010 3.0628 3.0628
7/9/2010 3.052 3.052
7/8/2010 3.0306 3.0306
7/7/2010 2.9803 2.9803
7/6/2010 2.9302 2.9302
7/5/2010 2.9733 2.9733
7/2/2010 2.977 2.977
7/1/2010 2.947 2.947
6/30/2010 2.9311 2.9311
6/29/2010 2.9491 2.9491
6/28/2010 3.021 3.021
6/25/2010 3.1078 3.1078
6/24/2010 3.1371 3.1371
6/23/2010 3.119 3.119
6/22/2010 3.1664 3.1664
6/21/2010 3.2414 3.2414
6/18/2010 3.2195 3.2195
6/17/2010 3.1887 3.1887
6/16/2010 3.2601 3.2601
6/15/2010 3.3025 3.3025
6/14/2010 3.2529 3.2529
6/11/2010 3.2346 3.2346
6/10/2010 3.3193 3.3193
6/9/2010 3.1729 3.1729
6/8/2010 3.1857 3.1857
6/7/2010 3.1422 3.1422
6/4/2010 3.2023 3.2023
6/3/2010 3.3639 3.3639
6/2/2010 3.34 3.34
6/1/2010 3.2591 3.2591
5/31/2010 3.2848 3.2848
5/28/2010 3.2922 3.2922
5/27/2010 3.3605 3.3605
5/26/2010 3.1886 3.1886
5/25/2010 3.1578 3.1578
5/24/2010 3.1942 3.1942
5/21/2010 3.2379 3.2379
5/20/2010 3.2126 3.2126
5/19/2010 3.3682 3.3682
5/18/2010 3.3462 3.3462
5/17/2010 3.4869 3.4869
5/14/2010 3.4534 3.4534
5/13/2010 3.5261 3.5261
5/12/2010 3.571 3.571
5/11/2010 3.5235 3.5235
5/10/2010 3.5406 3.5406
5/7/2010 3.4255 3.4255
5/6/2010 3.3938 3.3938
5/5/2010 3.5388 3.5388
5/4/2010 3.5902 3.5902
5/3/2010 3.682 3.682
4/30/2010 3.6532 3.6532
4/29/2010 3.7243 3.7243
4/28/2010 3.7628 3.7628
4/27/2010 3.6877 3.6877
4/26/2010 3.8054 3.8054
4/23/2010 3.8092 3.8092
4/22/2010 3.7723 3.7723
4/21/2010 3.7356 3.7356
4/20/2010 3.7993 3.7993
4/19/2010 3.7974 3.7974
4/16/2010 3.7626 3.7626
4/15/2010 3.8321 3.8321
4/14/2010 3.8593 3.8593
4/13/2010 3.8204 3.8204
4/12/2010 3.8417 3.8417
4/9/2010 3.8825 3.8825
4/8/2010 3.8901 3.8901
4/7/2010 3.8531 3.8531
4/6/2010 3.9505 3.9505
4/5/2010 3.9859 3.9859
4/2/2010 3.9446 3.9446
4/1/2010 3.8685 3.8685
3/31/2010 3.8257 3.8257
3/30/2010 3.8566 3.8566
3/29/2010 3.8643 3.8643
3/26/2010 3.8468 3.8468
3/25/2010 3.8777 3.8777
3/24/2010 3.8524 3.8524
3/23/2010 3.6854 3.6854
3/22/2010 3.6588 3.6588
3/19/2010 3.6892 3.6892
3/18/2010 3.6759 3.6759
3/17/2010 3.6361 3.6361
3/16/2010 3.6493 3.6493
3/15/2010 3.6949 3.6949
3/12/2010 3.7006 3.7006
3/11/2010 3.7272 3.7272
3/10/2010 3.7215 3.7215
3/9/2010 3.7005 3.7005
3/8/2010 3.7157 3.7157
3/5/2010 3.6796 3.6796
3/4/2010 3.6022 3.6022
3/3/2010 3.6173 3.6173
3/2/2010 3.6041 3.6041
3/1/2010 3.6079 3.6079
2/26/2010 3.6117 3.6117
2/25/2010 3.6324 3.6324
2/24/2010 3.6909 3.6909
2/23/2010 3.6834 3.6834
2/22/2010 3.7955 3.7955
2/19/2010 3.7726 3.7726
2/18/2010 3.8012 3.8012
2/17/2010 3.7307 3.7307
2/16/2010 3.6569 3.6569
2/15/2010 3.6909 3.6909
2/12/2010 3.6928 3.6928
2/11/2010 3.7155 3.7155
2/10/2010 3.6897 3.6897
2/9/2010 3.6448 3.6448
2/8/2010 3.5597 3.5597
2/5/2010 3.5654 3.5654
2/4/2010 3.6058 3.6058
2/3/2010 3.7047 3.7047
2/2/2010 3.6405 3.6405
2/1/2010 3.6501 3.6501
1/29/2010 3.5844 3.5844
1/28/2010 3.6344 3.6344
1/27/2010 3.6479 3.6479
1/26/2010 3.6188 3.6188
1/25/2010 3.6265 3.6265
1/22/2010 3.6071 3.6071
1/21/2010 3.5858 3.5858
1/20/2010 3.6474 3.6474
1/19/2010 3.6919 3.6919
1/18/2010 3.6745 3.6745
1/15/2010 3.6744 3.6744
1/14/2010 3.7382 3.7382
1/13/2010 3.7908 3.7908
1/12/2010 3.7108 3.7108
1/11/2010 3.818 3.818
1/8/2010 3.8297 3.8297
1/7/2010 3.8235 3.8235
1/6/2010 3.8215 3.8215
1/5/2010 3.7608 3.7608
1/4/2010 3.8155 3.8155
1/1/2010 3.835 3.835
12/31/2009 3.8368 3.8368
12/30/2009 3.7856 3.7856
12/29/2009 3.7972 3.7972
12/28/2009 3.8402 3.8402
12/25/2009 3.803 3.803
12/24/2009 3.8029 3.8029
12/23/2009 3.7481 3.7481
12/22/2009 3.7538 3.7538
12/21/2009 3.6745 3.6745
12/18/2009 3.5368 3.5368
12/17/2009 3.478 3.478
12/16/2009 3.5975 3.5975
12/15/2009 3.5861 3.5861
12/14/2009 3.548 3.548
12/11/2009 3.5498 3.5498
12/10/2009 3.4967 3.4967
12/9/2009 3.4328 3.4328
12/8/2009 3.3804 3.3804
12/7/2009 3.429 3.429
12/4/2009 3.4722 3.4722
12/3/2009 3.3842 3.3842
12/2/2009 3.3099 3.3099
12/1/2009 3.2822 3.2822
11/30/2009 3.1978 3.1978
11/27/2009 3.2051 3.2051
11/26/2009 3.2694 3.2694
11/25/2009 3.2695 3.2695
11/24/2009 3.3027 3.3027
11/23/2009 3.3489 3.3489
11/20/2009 3.3656 3.3656
11/19/2009 3.3361 3.3361
11/18/2009 3.3638 3.3638
11/17/2009 3.3232 3.3232
11/16/2009 3.3343 3.3343
11/13/2009 3.4177 3.4177
11/12/2009 3.4438 3.4438
11/11/2009 3.4831 3.4831
11/10/2009 3.4724 3.4724
11/9/2009 3.4857 3.4857
11/6/2009 3.4971 3.4971
11/5/2009 3.5236 3.5236
11/4/2009 3.5237 3.5237
11/3/2009 3.4652 3.4652
11/2/2009 3.4145 3.4145
10/30/2009 3.3828 3.3828
10/29/2009 3.4974 3.4974
10/28/2009 3.4148 3.4148
10/27/2009 3.4448 3.4448
10/26/2009 3.5542 3.5542
10/23/2009 3.49 3.49
10/22/2009 3.4132 3.4132
10/21/2009 3.3853 3.3853
10/20/2009 3.3407 3.3407
10/19/2009 3.3891 3.3891
10/16/2009 3.4115 3.4115
10/15/2009 3.4565 3.4565
10/14/2009 3.4136 3.4136
10/13/2009 3.3468 3.3468
10/12/2009 3.3783 3.3783
10/9/2009 3.3802 3.3802
10/8/2009 3.2477 3.2477
10/7/2009 3.182 3.182
10/6/2009 3.2552 3.2552
10/5/2009 3.2205 3.2205
10/2/2009 3.2188 3.2188
10/1/2009 3.179 3.179
9/30/2009 3.3053 3.3053
9/29/2009 3.2906 3.2906
9/28/2009 3.2797 3.2797
9/25/2009 3.3184 3.3184
9/24/2009 3.3813 3.3813
9/23/2009 3.4184 3.4184
9/22/2009 3.4445 3.4445
9/21/2009 3.4799 3.4799
9/18/2009 3.4632 3.4632
9/17/2009 3.3836 3.3836
9/16/2009 3.469 3.469
9/15/2009 3.4541 3.4541
9/14/2009 3.4208 3.4208
9/11/2009 3.347 3.347
9/10/2009 3.3472 3.3472
9/9/2009 3.4711 3.4711
9/8/2009 3.4823 3.4823
9/7/2009 3.4415 3.4415
9/4/2009 3.4378 3.4378
9/3/2009 3.344 3.344
9/2/2009 3.3056 3.3056
9/1/2009 3.3625 3.3625
8/31/2009 3.3975 3.3975
8/28/2009 3.4456 3.4456
8/27/2009 3.4531 3.4531
8/26/2009 3.4329 3.4329
8/25/2009 3.4348 3.4348
8/24/2009 3.4755 3.4755
8/21/2009 3.5649 3.5649
8/20/2009 3.4313 3.4313
8/19/2009 3.4517 3.4517
8/18/2009 3.5092 3.5092
8/17/2009 3.4684 3.4684
8/14/2009 3.5688 3.5688
8/13/2009 3.595 3.595
8/12/2009 3.7172 3.7172
8/11/2009 3.6677 3.6677
8/10/2009 3.7765 3.7765
8/7/2009 3.8502 3.8502
8/6/2009 3.7501 3.7501
8/5/2009 3.7459 3.7459
8/4/2009 3.6845 3.6845
8/3/2009 3.6333 3.6333
7/31/2009 3.4796 3.4796
7/30/2009 3.6074 3.6074
7/29/2009 3.6582 3.6582
7/28/2009 3.6856 3.6856
7/27/2009 3.7189 3.7189
7/24/2009 3.6578 3.6578
7/23/2009 3.6555 3.6555
7/22/2009 3.5443 3.5443
7/21/2009 3.4824 3.4824
7/20/2009 3.6063 3.6063
7/17/2009 3.6433 3.6433
7/16/2009 3.5689 3.5689
7/15/2009 3.6038 3.6038
7/14/2009 3.4703 3.4703
7/13/2009 3.35 3.35
7/10/2009 3.3026 3.3026
7/9/2009 3.403 3.403
7/8/2009 3.3081 3.3081
7/7/2009 3.4544 3.4544
7/6/2009 3.5063 3.5063
7/3/2009 3.4985 3.4985
7/2/2009 3.4946 3.4946
7/1/2009 3.5365 3.5365
6/30/2009 3.5326 3.5326
6/29/2009 3.4768 3.4768
6/26/2009 3.5363 3.5363
6/25/2009 3.5398 3.5398
6/24/2009 3.6851 3.6851
6/23/2009 3.6208 3.6208
6/22/2009 3.681 3.681
6/19/2009 3.7808 3.7808
6/18/2009 3.8277 3.8277
6/17/2009 3.6882 3.6882
6/16/2009 3.6588 3.6588
6/15/2009 3.7113 3.7113
6/12/2009 3.7916 3.7916
6/11/2009 3.8543 3.8543
6/10/2009 3.9455 3.9455
6/9/2009 3.8559 3.8559
6/8/2009 3.8736 3.8736
6/5/2009 3.8279 3.8279
6/4/2009 3.7099 3.7099
6/3/2009 3.5398 3.5398
6/2/2009 3.6127 3.6127
6/1/2009 3.6726 3.6726
5/29/2009 3.4594 3.4594
5/28/2009 3.6122 3.6122
5/27/2009 3.7381 3.7381
5/26/2009 3.5467 3.5467
5/25/2009 3.4496 3.4496
5/22/2009 3.4495 3.4495
5/21/2009 3.3644 3.3644
5/20/2009 3.1912 3.1912
5/19/2009 3.243 3.243
5/18/2009 3.23 3.23
5/15/2009 3.1341 3.1341
5/14/2009 3.0884 3.0884
5/13/2009 3.1195 3.1195
5/12/2009 3.1727 3.1727
5/11/2009 3.1654 3.1654
5/8/2009 3.2856 3.2856
5/7/2009 3.3341 3.3341
5/6/2009 3.1612 3.1612
5/5/2009 3.1592 3.1592
5/4/2009 3.1514 3.1514
5/1/2009 3.1533 3.1533
4/30/2009 3.1187 3.1187
4/29/2009 3.1073 3.1073
4/28/2009 3.0073 3.0073
4/27/2009 2.9083 2.9083
4/24/2009 2.9903 2.9903
4/23/2009 2.9193 2.9193
4/22/2009 2.9397 2.9397
4/21/2009 2.8969 2.8969
4/20/2009 2.8359 2.8359
4/17/2009 2.9451 2.9451
4/16/2009 2.8303 2.8303
4/15/2009 2.7644 2.7644
4/14/2009 2.7845 2.7845
4/13/2009 2.8579 2.8579
4/10/2009 2.9226 2.9226
4/9/2009 2.9207 2.9207
4/8/2009 2.8559 2.8559
4/7/2009 2.8965 2.8965
4/6/2009 2.9223 2.9223
4/3/2009 2.8853 2.8853
4/2/2009 2.7662 2.7662
4/1/2009 2.6539 2.6539
3/31/2009 2.6629 2.6629
3/30/2009 2.7117 2.7117
3/27/2009 2.7571 2.7571
3/26/2009 2.7389 2.7389
3/25/2009 2.7844 2.7844
3/24/2009 2.701 2.701
3/23/2009 2.6523 2.6523
3/20/2009 2.6344 2.6344
3/19/2009 2.6023 2.6023
3/18/2009 2.533 2.533
3/17/2009 3.0066 3.0066
3/16/2009 2.9529 2.9529
3/13/2009 2.8902 2.8902
3/12/2009 2.8535 2.8535
3/11/2009 2.9048 2.9048
3/10/2009 3.0044 3.0044
3/9/2009 2.8589 2.8589
3/6/2009 2.8717 2.8717
3/5/2009 2.8115 2.8115
3/4/2009 2.9745 2.9745
3/3/2009 2.8771 2.8771
3/2/2009 2.8624 2.8624
2/27/2009 3.0131 3.0131
2/26/2009 2.9908 2.9908
2/25/2009 2.9263 2.9263
2/24/2009 2.7951 2.7951
2/23/2009 2.7536 2.7536
2/20/2009 2.7879 2.7879
2/19/2009 2.8531 2.8531
2/18/2009 2.7554 2.7554
2/17/2009 2.648 2.648
2/16/2009 2.8895 2.8895
2/13/2009 2.8894 2.8894
2/12/2009 2.7824 2.7824
2/11/2009 2.7537 2.7537
2/10/2009 2.8136 2.8136
2/9/2009 2.9844 2.9844
2/6/2009 2.9917 2.9917
2/5/2009 2.912 2.912
2/4/2009 2.9353 2.9353
2/3/2009 2.884 2.884
2/2/2009 2.7226 2.7226
1/30/2009 2.8403 2.8403
1/29/2009 2.8586 2.8586
1/28/2009 2.6665 2.6665
1/27/2009 2.5274 2.5274
1/26/2009 2.6411 2.6411
1/23/2009 2.6172 2.6172
1/22/2009 2.5922 2.5922
1/21/2009 2.536 2.536
1/20/2009 2.3771 2.3771
1/19/2009 2.3184 2.3184
1/16/2009 2.3188 2.3188
1/15/2009 2.2055 2.2055
1/14/2009 2.1993 2.1993
1/13/2009 2.2924 2.2924
1/12/2009 2.3044 2.3044
1/9/2009 2.39 2.39
1/8/2009 2.4398 2.4398
1/7/2009 2.4942 2.4942
1/6/2009 2.4454 2.4454
1/5/2009 2.4812 2.4812
1/2/2009 2.3688 2.3688
1/1/2009 2.2123 2.2123
12/31/2008 2.2123 2.2123
12/30/2008 2.053 2.053
12/29/2008 2.0989 2.0989
12/26/2008 2.1318 2.1318
12/25/2008 2.1809 2.1809
12/24/2008 2.182 2.182
12/23/2008 2.1729 2.1729
12/22/2008 2.17 2.17
12/19/2008 2.1231 2.1231
12/18/2008 2.0788 2.0788
12/17/2008 2.1915 2.1915
12/16/2008 2.2558 2.2558
12/15/2008 2.5127 2.5127
12/12/2008 2.5705 2.5705
12/11/2008 2.6019 2.6019
12/10/2008 2.6824 2.6824
12/9/2008 2.6399 2.6399
12/8/2008 2.7378 2.7378
12/5/2008 2.7037 2.7037
12/4/2008 2.5513 2.5513
12/3/2008 2.6585 2.6585
12/2/2008 2.6724 2.6724
12/1/2008 2.7309 2.7309
11/28/2008 2.92 2.92
11/27/2008 2.9778 2.9778
11/26/2008 2.9784 2.9784
11/25/2008 3.1078 3.1078
11/24/2008 3.3236 3.3236
11/21/2008 3.1974 3.1974
11/20/2008 3.0131 3.0131
11/19/2008 3.3205 3.3205
11/18/2008 3.5293 3.5293
11/17/2008 3.6484 3.6484
11/14/2008 3.7349 3.7349
11/13/2008 3.8525 3.8525
11/12/2008 3.6466 3.6466
11/11/2008 3.7432 3.7432
11/10/2008 3.7432 3.7432
11/7/2008 3.7929 3.7929
11/6/2008 3.6886 3.6886
11/5/2008 3.7019 3.7019
11/4/2008 3.7247 3.7247
11/3/2008 3.9141 3.9141
10/31/2008 3.953 3.953
10/30/2008 3.9645 3.9645
10/29/2008 3.8546 3.8546
10/28/2008 3.8336 3.8336
10/27/2008 3.6874 3.6874
10/24/2008 3.6856 3.6856
10/23/2008 3.6745 3.6745
10/22/2008 3.594 3.594
10/21/2008 3.7388 3.7388
10/20/2008 3.8416 3.8416
10/17/2008 3.9299 3.9299
10/16/2008 3.9569 3.9569
10/15/2008 3.9453 3.9453
10/14/2008 4.0772 4.0772
10/13/2008 3.978 3.978
10/10/2008 3.8705 3.8705
10/9/2008 3.785 3.785
10/8/2008 3.6401 3.6401
10/7/2008 3.5028 3.5028
10/6/2008 3.4532 3.4532
10/3/2008 3.6031 3.6031
10/2/2008 3.6276 3.6276
10/1/2008 3.7382 3.7382
9/30/2008 3.8234 3.8234
9/29/2008 3.5776 3.5776
9/26/2008 3.852 3.852
9/25/2008 3.854 3.854
9/24/2008 3.8104 3.8104
9/23/2008 3.7991 3.7991
9/22/2008 3.8351 3.8351
9/19/2008 3.8105 3.8105
9/18/2008 3.5437 3.5437
9/17/2008 3.4137 3.4137
9/16/2008 3.4357 3.4357
9/15/2008 3.3868 3.3868
9/12/2008 3.7187 3.7187
9/11/2008 3.6425 3.6425
9/10/2008 3.6295 3.6295
9/9/2008 3.5668 3.5668
9/8/2008 3.6743 3.6743
9/5/2008 3.6986 3.6986
9/4/2008 3.6227 3.6227
9/3/2008 3.699 3.699
9/2/2008 3.7326 3.7326
9/1/2008 3.8115 3.8115
8/29/2008 3.8116 3.8116
8/28/2008 3.7779 3.7779
8/27/2008 3.763 3.763
8/26/2008 3.7743 3.7743
8/25/2008 3.7837 3.7837
8/22/2008 3.8704 3.8704
8/21/2008 3.8291 3.8291
8/20/2008 3.8009 3.8009
8/19/2008 3.8292 3.8292
8/18/2008 3.8104 3.8104
8/15/2008 3.8349 3.8349
8/14/2008 3.886 3.886
8/13/2008 3.9314 3.9314
8/12/2008 3.8954 3.8954
8/11/2008 3.9904 3.9904
8/8/2008 3.9276 3.9276
8/7/2008 3.92 3.92
8/6/2008 4.0501 4.0501
8/5/2008 4.0167 4.0167
8/4/2008 3.9619 3.9619
8/1/2008 3.9307 3.9307
7/31/2008 3.9462 3.9462
7/30/2008 4.0439 4.0439
7/29/2008 4.038 4.038
7/28/2008 4.0008 4.0008
7/25/2008 4.0969 4.0969
7/24/2008 3.9968 3.9968
7/23/2008 4.1165 4.1165
7/22/2008 4.0987 4.0987
7/21/2008 4.0417 4.0417
7/18/2008 4.0828 4.0828
7/17/2008 3.9907 3.9907
7/16/2008 3.9344 3.9344
7/15/2008 3.8188 3.8188
7/14/2008 3.8553 3.8553
7/11/2008 3.9576 3.9576
7/10/2008 3.7959 3.7959
7/9/2008 3.8112 3.8112
7/8/2008 3.8822 3.8822
7/7/2008 3.8995 3.8995
7/4/2008 3.975 3.975
7/3/2008 3.975 3.975
7/2/2008 3.9575 3.9575
7/1/2008 4.0021 4.0021
6/30/2008 3.969 3.969
6/27/2008 3.9652 3.9652
6/26/2008 4.033 4.033
6/25/2008 4.0994 4.0994
6/24/2008 4.0818 4.0818
6/23/2008 4.1641 4.1641
6/20/2008 4.1641 4.1641
6/19/2008 4.2073 4.2073
6/18/2008 4.1363 4.1363
6/17/2008 4.1973 4.1973
6/16/2008 4.2666 4.2666
6/13/2008 4.2565 4.2565
6/12/2008 4.2108 4.2108
6/11/2008 4.0735 4.0735
6/10/2008 4.1027 4.1027
6/9/2008 3.9977 3.9977
6/6/2008 3.9092 3.9092
6/5/2008 4.0383 4.0383
6/4/2008 3.9764 3.9764
6/3/2008 3.8939 3.8939
6/2/2008 3.9571 3.9571
5/30/2008 4.0595 4.0595
5/29/2008 4.075 4.075
5/28/2008 4.0033 4.0033
5/27/2008 3.9188 3.9188
5/26/2008 3.8425 3.8425
5/23/2008 3.8425 3.8425
5/22/2008 3.9111 3.9111
5/21/2008 3.8067 3.8067
5/20/2008 3.7746 3.7746
5/19/2008 3.8294 3.8294
5/16/2008 3.8446 3.8446
5/15/2008 3.8144 3.8144
5/14/2008 3.9112 3.9112
5/13/2008 3.9131 3.9131
5/12/2008 3.7974 3.7974
5/9/2008 3.7692 3.7692
5/8/2008 3.7748 3.7748
5/7/2008 3.8475 3.8475
5/6/2008 3.9164 3.9164
5/5/2008 3.867 3.867
5/2/2008 3.8551 3.8551
5/1/2008 3.763 3.763
4/30/2008 3.7279 3.7279
4/29/2008 3.8194 3.8194
4/28/2008 3.8252 3.8252
4/25/2008 3.8703 3.8703
4/24/2008 3.8249 3.8249
4/23/2008 3.7314 3.7314
4/22/2008 3.6908 3.6908
4/21/2008 3.7255 3.7255
4/18/2008 3.7061 3.7061
4/17/2008 3.7273 3.7273
4/16/2008 3.6886 3.6886
4/15/2008 3.6003 3.6003
4/14/2008 3.5109 3.5109
4/11/2008 3.4694 3.4694
4/10/2008 3.5394 3.5394
4/9/2008 3.4807 3.4807
4/8/2008 3.5564 3.5564
4/7/2008 3.5356 3.5356
4/4/2008 3.4657 3.4657
4/3/2008 3.5773 3.5773
4/2/2008 3.5963 3.5963
4/1/2008 3.5583 3.5583
3/31/2008 3.4096 3.4096
3/28/2008 3.4414 3.4414
3/27/2008 3.528 3.528
3/26/2008 3.4602 3.4602
3/25/2008 3.5053 3.5053
3/24/2008 3.5563 3.5563
3/21/2008 3.3335 3.3335
3/20/2008 3.3336 3.3336
3/19/2008 3.3282 3.3282
3/18/2008 3.4828 3.4828
3/17/2008 3.3061 3.3061
3/14/2008 3.4679 3.4679
3/13/2008 3.5261 3.5261
3/12/2008 3.4604 3.4604
3/11/2008 3.5921 3.5921
3/10/2008 3.4549 3.4549
3/7/2008 3.5317 3.5317
3/6/2008 3.5826 3.5826
3/5/2008 3.668 3.668
3/4/2008 3.6242 3.6242
3/3/2008 3.5468 3.5468
2/29/2008 3.5092 3.5092
2/28/2008 3.6697 3.6697
2/27/2008 3.8481 3.8481
2/26/2008 3.8596 3.8596
2/25/2008 3.8964 3.8964
2/22/2008 3.8016 3.8016
2/21/2008 3.7706 3.7706
2/20/2008 3.8902 3.8902
2/19/2008 3.8959 3.8959
2/18/2008 3.7686 3.7686
2/15/2008 3.7686 3.7686
2/14/2008 3.8163 3.8163
2/13/2008 3.7282 3.7282
2/12/2008 3.6579 3.6579
2/11/2008 3.6144 3.6144
2/8/2008 3.6428 3.6428
2/7/2008 3.7569 3.7569
2/6/2008 3.5885 3.5885
2/5/2008 3.5701 3.5701
2/4/2008 3.6444 3.6444
2/1/2008 3.5926 3.5926
1/31/2008 3.5931 3.5931
1/30/2008 3.6656 3.6656
1/29/2008 3.6769 3.6769
1/28/2008 3.5806 3.5806
1/25/2008 3.5494 3.5494
1/24/2008 3.7018 3.7018
1/23/2008 3.598 3.598
1/22/2008 3.4332 3.4332
1/21/2008 3.6296 3.6296
1/18/2008 3.6297 3.6297
1/17/2008 3.6211 3.6211
1/16/2008 3.7345 3.7345
1/15/2008 3.6751 3.6751
1/14/2008 3.7647 3.7647
1/11/2008 3.7835 3.7835
1/10/2008 3.8837 3.8837
1/9/2008 3.8215 3.8215
1/8/2008 3.7822 3.7822
1/7/2008 3.8311 3.8311
1/4/2008 3.8651 3.8651
1/3/2008 3.8918 3.8918
1/2/2008 3.9033 3.9033
1/1/2008 4.0231 4.0231
12/31/2007 4.0232 4.0232
12/28/2007 4.0732 4.0732
12/27/2007 4.1969 4.1969
12/26/2007 4.2749 4.2749
12/25/2007 4.2125 4.2125
12/24/2007 4.2125 4.2125
12/21/2007 4.1679 4.1679
12/20/2007 4.0507 4.0507
12/19/2007 4.0278 4.0278
12/18/2007 4.1179 4.1179
12/17/2007 4.1449 4.1449
12/14/2007 4.234 4.234
12/13/2007 4.2011 4.2011
12/12/2007 4.0893 4.0893
12/11/2007 3.9694 3.9694
12/10/2007 4.1567 4.1567
12/7/2007 4.1048 4.1048
12/6/2007 4.0076 4.0076
12/5/2007 3.9547 3.9547
12/4/2007 3.8926 3.8926
12/3/2007 3.8459 3.8459
11/30/2007 3.9379 3.9379
11/29/2007 3.9344 3.9344
11/28/2007 4.0347 4.0347
11/27/2007 3.9477 3.9477
11/26/2007 3.8391 3.8391
11/23/2007 3.9989 3.9989
11/22/2007 4.0065 4.0065
11/21/2007 4.0067 4.0067
11/20/2007 4.0961 4.0961
11/19/2007 4.0714 4.0714
11/16/2007 4.167 4.167
11/15/2007 4.1403 4.1403
11/14/2007 4.25 4.25
11/13/2007 4.2635 4.2635
11/12/2007 4.2133 4.2133
11/9/2007 4.2133 4.2133
11/8/2007 4.2829 4.2829
11/7/2007 4.3084 4.3084
11/6/2007 4.3726 4.3726
11/5/2007 4.3338 4.3338
11/2/2007 4.3165 4.3165
11/1/2007 4.3458 4.3458
10/31/2007 4.4708 4.4708
10/30/2007 4.379 4.379
10/29/2007 4.3811 4.3811
10/26/2007 4.4006 4.4006
10/25/2007 4.3775 4.3775
10/24/2007 4.3388 4.3388
10/23/2007 4.403 4.403
10/22/2007 4.4108 4.4108
10/19/2007 4.3915 4.3915
10/18/2007 4.4893 4.4893
10/17/2007 4.5522 4.5522
10/16/2007 4.6473 4.6473
10/15/2007 4.6772 4.6772
10/12/2007 4.6812 4.6812
10/11/2007 4.6355 4.6355
10/10/2007 4.6495 4.6495
10/9/2007 4.6475 4.6475
10/8/2007 4.6356 4.6356
10/5/2007 4.6356 4.6356
10/4/2007 4.5097 4.5097
10/3/2007 4.5588 4.5588
10/2/2007 4.5216 4.5216
10/1/2007 4.5452 4.5452
9/28/2007 4.5865 4.5865
9/27/2007 4.5631 4.5631
9/26/2007 4.6202 4.6202
9/25/2007 4.6242 4.6242
9/24/2007 4.6282 4.6282
9/21/2007 4.6203 4.6203
9/20/2007 4.6957 4.6957
9/19/2007 4.5458 4.5458
9/18/2007 4.4717 4.4717
9/17/2007 4.466 4.466
9/14/2007 4.4544 4.4544
9/13/2007 4.4643 4.4643
9/12/2007 4.4102 4.4102
9/11/2007 4.3679 4.3679
9/10/2007 4.322 4.322
9/7/2007 4.3816 4.3816
9/6/2007 4.5076 4.5076
9/5/2007 4.4669 4.4669
9/4/2007 4.5466 4.5466
9/3/2007 4.5291 4.5291
8/31/2007 4.5292 4.5292
8/30/2007 4.5061 4.5061
8/29/2007 4.5587 4.5587
8/28/2007 4.5062 4.5062
8/27/2007 4.5627 4.5627
8/24/2007 4.6156 4.6156
8/23/2007 4.6452 4.6452
8/22/2007 4.6452 4.6452
8/21/2007 4.5904 4.5904
8/20/2007 4.6257 4.6257
8/17/2007 4.6847 4.6847
8/16/2007 4.6572 4.6572
8/15/2007 4.7243 4.7243
8/14/2007 4.7243 4.7243
8/13/2007 4.7599 4.7599
8/10/2007 4.8076 4.8076
8/9/2007 4.7678 4.7678
8/8/2007 4.8767 4.8767
8/7/2007 4.7677 4.7677
8/6/2007 4.7371 4.7371
8/3/2007 4.6842 4.6842
8/2/2007 4.7654 4.7654
8/1/2007 4.7919 4.7919
7/31/2007 4.7388 4.7388
7/30/2007 4.802 4.802
7/27/2007 4.757 4.757
7/26/2007 4.7854 4.7854
7/25/2007 4.8983 4.8983
7/24/2007 4.9085 4.9085
7/23/2007 4.9477 4.9477
7/20/2007 4.9497 4.9497
7/19/2007 5.0159 5.0159
7/18/2007 5.0283 5.0283
7/17/2007 5.0491 5.0491
7/16/2007 5.0385 5.0385
7/13/2007 5.0928 5.0928
7/12/2007 5.1239 5.1239
7/11/2007 5.086 5.086
7/10/2007 5.0212 5.0212
7/9/2007 5.1382 5.1382
7/6/2007 5.1824 5.1824
7/5/2007 5.1402 5.1402
7/4/2007 5.0373 5.0373
7/3/2007 5.0372 5.0372
7/2/2007 4.9892 4.9892
6/29/2007 5.0244 5.0244
6/28/2007 5.1033 5.1033
6/27/2007 5.0802 5.0802
6/26/2007 5.078 5.078
6/25/2007 5.08 5.08
6/22/2007 5.13 5.13
6/21/2007 5.1863 5.1863
6/20/2007 5.1316 5.1316
6/19/2007 5.0814 5.0814
6/18/2007 5.1335 5.1335
6/15/2007 5.1627 5.1627
6/14/2007 5.2212 5.2212
6/13/2007 5.1979 5.1979
6/12/2007 5.2928 5.2928
6/11/2007 5.1514 5.1514
6/8/2007 5.0991 5.0991
6/7/2007 5.13 5.13
6/6/2007 4.9641 4.9641
6/5/2007 4.9908 4.9908
6/4/2007 4.9271 4.9271
6/1/2007 4.9516 4.9516
5/31/2007 4.8879 4.8879
5/30/2007 4.8675 4.8675
5/29/2007 4.8818 4.8818
5/28/2007 4.8573 4.8573
5/25/2007 4.8572 4.8572
5/24/2007 4.8387 4.8387
5/23/2007 4.8468 4.8468
5/22/2007 4.8245 4.8245
5/21/2007 4.782 4.782
5/18/2007 4.8001 4.8001
5/17/2007 4.7517 4.7517
5/16/2007 4.7096 4.7096
5/15/2007 4.7016 4.7016
5/14/2007 4.6936 4.6936
5/11/2007 4.6717 4.6717
5/10/2007 4.6379 4.6379
5/9/2007 4.6618 4.6618
5/8/2007 4.6342 4.6342
5/7/2007 4.6262 4.6262
5/4/2007 4.6382 4.6382
5/3/2007 4.6723 4.6723
5/2/2007 4.6422 4.6422
5/1/2007 4.6362 4.6362
4/30/2007 4.6222 4.6222
4/27/2007 4.6924 4.6924
4/26/2007 4.6964 4.6964
4/25/2007 4.6502 4.6502
4/24/2007 4.6202 4.6202
4/23/2007 4.6402 4.6402
4/20/2007 4.6703 4.6703
4/19/2007 4.6642 4.6642
4/18/2007 4.6502 4.6502
4/17/2007 4.6803 4.6803
4/16/2007 4.7346 4.7346
4/13/2007 4.7608 4.7608
4/12/2007 4.7345 4.7345
4/11/2007 4.7304 4.7304
4/10/2007 4.7184 4.7184
4/9/2007 4.7425 4.7425
4/6/2007 4.7485 4.7485
4/5/2007 4.6782 4.6782
4/4/2007 4.6482 4.6482
4/3/2007 4.6642 4.6642
4/2/2007 4.6403 4.6403
3/30/2007 4.6443 4.6443
3/29/2007 4.6423 4.6423
3/28/2007 4.6204 4.6204
3/27/2007 4.5966 4.5966
3/26/2007 4.6006 4.6006
3/23/2007 4.6105 4.6105
3/22/2007 4.5829 4.5829
3/21/2007 4.5356 4.5356
3/20/2007 4.5494 4.5494
3/19/2007 4.5632 4.5632
3/16/2007 4.5435 4.5435
3/15/2007 4.5358 4.5358
3/14/2007 4.5338 4.5338
3/13/2007 4.4907 4.4907
3/12/2007 4.5516 4.5516
3/9/2007 4.5871 4.5871
3/8/2007 4.5125 4.5125
3/7/2007 4.4871 4.4871
3/6/2007 4.5282 4.5282
3/5/2007 4.495 4.495
3/2/2007 4.497 4.497
3/1/2007 4.5499 4.5499
2/28/2007 4.5657 4.5657
2/27/2007 4.5109 4.5109
2/26/2007 4.6248 4.6248
2/23/2007 4.6703 4.6703
2/22/2007 4.7279 4.7279
2/21/2007 4.6902 4.6902
2/20/2007 4.6743 4.6743
2/19/2007 4.6882 4.6882
2/16/2007 4.6882 4.6882
2/15/2007 4.7061 4.7061
2/14/2007 4.7359 4.7359
2/13/2007 4.8078 4.8078
2/12/2007 4.8037 4.8037
2/9/2007 4.7797 4.7797
2/8/2007 4.7319 4.7319
2/7/2007 4.7432 4.7432
2/6/2007 4.7655 4.7655
2/5/2007 4.8021 4.8021
2/2/2007 4.8204 4.8204
2/1/2007 4.8346 4.8346
1/31/2007 4.808 4.808
1/30/2007 4.8693 4.8693
1/29/2007 4.8897 4.8897
1/26/2007 4.8733 4.8733
1/25/2007 4.8731 4.8731
1/24/2007 4.8077 4.8077
1/23/2007 4.8077 4.8077
1/22/2007 4.759 4.759
1/19/2007 4.7752 4.7752
1/18/2007 4.7427 4.7427
1/17/2007 4.7791 4.7791
1/16/2007 4.7467 4.7467
1/15/2007 4.775 4.775
1/12/2007 4.775 4.775
1/11/2007 4.7305 4.7305
1/10/2007 4.6843 4.6843
1/9/2007 4.6542 4.6542
1/8/2007 4.6522 4.6522
1/5/2007 4.6442 4.6442
1/4/2007 4.6024 4.6024
1/3/2007 4.6582 4.6582
1/2/2007 4.6802 4.6802
1/1/2007 4.7022 4.7022
12/29/2006 4.7022 4.7022
12/28/2006 4.6802 4.6802
12/27/2006 4.6503 4.6503
12/26/2006 4.5986 4.5986
12/25/2006 4.6184 4.6184
12/22/2006 4.6185 4.6185
12/21/2006 4.5454 4.5454
12/20/2006 4.5947 4.5947
12/19/2006 4.5888 4.5888
12/18/2006 4.5809 4.5809
12/15/2006 4.5928 4.5928
12/14/2006 4.5968 4.5968
12/13/2006 4.5791 4.5791
12/12/2006 4.4848 4.4848
12/11/2006 4.5182 4.5182
12/8/2006 4.5437 4.5437
12/7/2006 4.4811 4.4811
12/6/2006 4.4851 4.4851
12/5/2006 4.4403 4.4403
12/4/2006 4.4229 4.4229
12/1/2006 4.4327 4.4327
11/30/2006 4.4581 4.4581
11/29/2006 4.5206 4.5206
11/28/2006 4.5011 4.5011
11/27/2006 4.5285 4.5285
11/24/2006 4.548 4.548
11/23/2006 4.5579 4.5579
11/22/2006 4.558 4.558
11/21/2006 4.5698 4.5698
11/20/2006 4.5973 4.5973
11/17/2006 4.5993 4.5993
11/16/2006 4.6644 4.6644
11/15/2006 4.6171 4.6171
11/14/2006 4.5622 4.5622
11/13/2006 4.6093 4.6093
11/10/2006 4.5877 4.5877
11/9/2006 4.6253 4.6253
11/8/2006 4.6352 4.6352
11/7/2006 4.6571 4.6571
11/6/2006 4.693 4.693
11/3/2006 4.715 4.715
11/2/2006 4.594 4.594
11/1/2006 4.5645 4.5645
10/31/2006 4.5981 4.5981
10/30/2006 4.6694 4.6694
10/27/2006 4.6715 4.6715
10/26/2006 4.7174 4.7174
10/25/2006 4.7614 4.7614
10/24/2006 4.8196 4.8196
10/23/2006 4.8277 4.8277
10/20/2006 4.7855 4.7855
10/19/2006 4.7816 4.7816
10/18/2006 4.7536 4.7536
10/17/2006 4.7656 4.7656
10/16/2006 4.7757 4.7757
10/13/2006 4.7977 4.7977
10/12/2006 4.7698 4.7698
10/11/2006 4.7778 4.7778
10/10/2006 4.7518 4.7518
10/9/2006 4.6942 4.6942
10/6/2006 4.6943 4.6943
10/5/2006 4.6037 4.6037
10/4/2006 4.5587 4.5587
10/3/2006 4.6137 4.6137
10/2/2006 4.6 4.6
9/29/2006 4.6276 4.6276
9/28/2006 4.612 4.612
9/27/2006 4.5984 4.5984
9/26/2006 4.5828 4.5828
9/25/2006 4.5418 4.5418
9/22/2006 4.5888 4.5888
9/21/2006 4.636 4.636
9/20/2006 4.7288 4.7288
9/19/2006 4.7328 4.7328
9/18/2006 4.8044 4.8044
9/15/2006 4.7885 4.7885
9/14/2006 4.7886 4.7886
9/13/2006 4.7588 4.7588
9/12/2006 4.7688 4.7688
9/11/2006 4.8006 4.8006
9/8/2006 4.7708 4.7708
9/7/2006 4.7848 4.7848
9/6/2006 4.7948 4.7948
9/5/2006 4.7789 4.7789
9/4/2006 4.7235 4.7235
9/1/2006 4.7236 4.7236
8/31/2006 4.7258 4.7258
8/30/2006 4.7515 4.7515
8/29/2006 4.7772 4.7772
8/28/2006 4.7911 4.7911
8/25/2006 4.7793 4.7793
8/24/2006 4.7992 4.7992
8/23/2006 4.8072 4.8072
8/22/2006 4.8092 4.8092
8/21/2006 4.8112 4.8112
8/18/2006 4.841 4.841
8/17/2006 4.863 4.863
8/16/2006 4.859 4.859
8/15/2006 4.9289 4.9289
8/14/2006 4.9952 4.9952
8/11/2006 4.9691 4.9691
8/10/2006 4.9309 4.9309
8/9/2006 4.9367 4.9367
8/8/2006 4.9165 4.9165
8/7/2006 4.9186 4.9186
8/4/2006 4.8925 4.8925
8/3/2006 4.9591 4.9591
8/2/2006 4.9632 4.9632
8/1/2006 4.9753 4.9753
7/31/2006 4.9794 4.9794
7/28/2006 4.9896 4.9896
7/27/2006 5.0343 5.0343
7/26/2006 5.0302 5.0302
7/25/2006 5.0628 5.0628
7/24/2006 5.0424 5.0424
7/21/2006 5.0404 5.0404
7/20/2006 5.0263 5.0263
7/19/2006 5.0487 5.0487
7/18/2006 5.1302 5.1302
7/17/2006 5.0629 5.0629
7/14/2006 5.0629 5.0629
7/13/2006 5.063 5.063
7/12/2006 5.0976 5.0976
7/11/2006 5.0996 5.0996
7/10/2006 5.1241 5.1241
7/7/2006 5.1261 5.1261
7/6/2006 5.1793 5.1793
7/5/2006 5.2204 5.2204
7/4/2006 5.1486 5.1486
7/3/2006 5.1486 5.1486
6/30/2006 5.1364 5.1364
6/29/2006 5.1936 5.1936
6/28/2006 5.2429 5.2429
6/27/2006 5.1998 5.1998
6/26/2006 5.2326 5.2326
6/23/2006 5.2223 5.2223
6/22/2006 5.208 5.208
6/21/2006 5.1528 5.1528
6/20/2006 5.1487 5.1487
6/19/2006 5.1345 5.1345
6/16/2006 5.1264 5.1264
6/15/2006 5.094 5.094
6/14/2006 5.0617 5.0617
6/13/2006 4.9613 4.9613
6/12/2006 4.9774 4.9774
6/9/2006 4.9714 4.9714
6/8/2006 4.9936 4.9936
6/7/2006 5.0177 5.0177
6/6/2006 4.9997 4.9997
6/5/2006 5.0177 5.0177
6/2/2006 4.9898 4.9898
6/1/2006 5.0984 5.0984
5/31/2006 5.1186 5.1186
5/30/2006 5.0762 5.0762
5/29/2006 5.0481 5.0481
5/26/2006 5.0481 5.0481
5/25/2006 5.0683 5.0683
5/24/2006 5.0363 5.0363
5/23/2006 5.0123 5.0123
5/22/2006 5.0383 5.0383
5/19/2006 5.0584 5.0584
5/18/2006 5.0605 5.0605
5/17/2006 5.1431 5.1431
5/16/2006 5.0947 5.0947
5/15/2006 5.1533 5.1533
5/12/2006 5.1938 5.1938
5/11/2006 5.151 5.151
5/10/2006 5.1234 5.1234
5/9/2006 5.1211 5.1211
5/8/2006 5.1104 5.1104
5/5/2006 5.0997 5.0997
5/4/2006 5.1521 5.1521
5/3/2006 5.1414 5.1414
5/2/2006 5.1075 5.1075
5/1/2006 5.1369 5.1369
4/28/2006 5.0505 5.0505
4/27/2006 5.0669 5.0669
4/26/2006 5.1046 5.1046
4/25/2006 5.0667 5.0667
4/24/2006 4.9768 4.9768
4/21/2006 5.0079 5.0079
4/20/2006 5.0389 5.0389
4/19/2006 5.0221 5.0221
4/18/2006 4.9824 4.9824
4/17/2006 5.0032 5.0032
4/14/2006 5.0448 5.0448
4/13/2006 5.0447 5.0447
4/12/2006 4.9777 4.9777
4/11/2006 4.9197 4.9197
4/10/2006 4.9526 4.9526
4/7/2006 4.9774 4.9774
4/6/2006 4.8987 4.8987
4/5/2006 4.8433 4.8433
4/4/2006 4.8637 4.8637
4/3/2006 4.8615 4.8615
3/31/2006 4.8472 4.8472
3/30/2006 4.8551 4.8551
3/29/2006 4.8041 4.8041
3/28/2006 4.7797 4.7797
3/27/2006 4.7028 4.7028
3/24/2006 4.6686 4.6686
3/23/2006 4.7329 4.7329
3/22/2006 4.6986 4.6986
3/21/2006 4.7167 4.7167
3/20/2006 4.6565 4.6565
3/17/2006 4.6705 4.6705
3/16/2006 4.6404 4.6404
3/15/2006 4.7266 4.7266
3/14/2006 4.6924 4.6924
3/13/2006 4.7668 4.7668
3/10/2006 4.7567 4.7567
3/9/2006 4.7243 4.7243
3/8/2006 4.7263 4.7263
3/7/2006 4.7223 4.7223
3/6/2006 4.7504 4.7504
3/3/2006 4.6801 4.6801
3/2/2006 4.6282 4.6282
3/1/2006 4.5845 4.5845
2/28/2006 4.551 4.551
2/27/2006 4.5905 4.5905
2/24/2006 4.5727 4.5727
2/23/2006 4.5549 4.5549
2/22/2006 4.5215 4.5215
2/21/2006 4.5648 4.5648
2/20/2006 4.5372 4.5372
2/17/2006 4.5372 4.5372
2/16/2006 4.5825 4.5825
2/15/2006 4.5964 4.5964
2/14/2006 4.6102 4.6102
2/13/2006 4.5766 4.5766
2/10/2006 4.5845 4.5845
2/9/2006 4.5432 4.5432
2/8/2006 4.5873 4.5873
2/7/2006 4.5652 4.5652
2/6/2006 4.5432 4.5432
2/3/2006 4.5232 4.5232
2/2/2006 4.5571 4.5571
2/1/2006 4.5551 4.5551
1/31/2006 4.5152 4.5152
1/30/2006 4.5251 4.5251
1/27/2006 4.5092 4.5092
1/26/2006 4.5172 4.5172
1/25/2006 4.4754 4.4754
1/24/2006 4.3904 4.3904
1/23/2006 4.3551 4.3551
1/20/2006 4.3493 4.3493
1/19/2006 4.3729 4.3729
1/18/2006 4.3318 4.3318
1/17/2006 4.324 4.324
1/16/2006 4.3534 4.3534
1/13/2006 4.3534 4.3534
1/12/2006 4.4026 4.4026
1/11/2006 4.4518 4.4518
1/10/2006 4.4243 4.4243
1/9/2006 4.3654 4.3654
1/6/2006 4.3733 4.3733
1/5/2006 4.3519 4.3519
1/4/2006 4.3422 4.3422
1/3/2006 4.3637 4.3637
1/2/2006 4.3911 4.3911
12/30/2005 4.3911 4.3911
12/29/2005 4.3541 4.3541
12/28/2005 4.3737 4.3737
12/27/2005 4.3366 4.3366
12/23/2005 4.372 4.372
12/22/2005 4.4267 4.4267
12/21/2005 4.4877 4.4877
12/20/2005 4.4601 4.4601
12/19/2005 4.4385 4.4385
12/16/2005 4.4327 4.4327
12/15/2005 4.4602 4.4602
12/14/2005 4.4563 4.4563
12/13/2005 4.5193 4.5193
12/12/2005 4.547 4.547
12/9/2005 4.5233 4.5233
12/8/2005 4.4623 4.4623
12/7/2005 4.5095 4.5095
12/6/2005 4.482 4.482
12/5/2005 4.5687 4.5687
12/2/2005 4.5115 4.5115
12/1/2005 4.5135 4.5135
11/30/2005 4.484 4.484
11/29/2005 4.4743 4.4743
11/28/2005 4.404 4.404
11/25/2005 4.4274 4.4274
11/24/2005 4.47 4.47
11/23/2005 4.47 4.47
11/22/2005 4.4256 4.4256
11/21/2005 4.4588 4.4588
11/18/2005 4.4881 4.4881
11/17/2005 4.4569 4.4569
11/16/2005 4.4706 4.4706
11/15/2005 4.5569 4.5569
11/14/2005 4.6043 4.6043
11/11/2005 4.5333 4.5333
11/10/2005 4.5535 4.5535
11/9/2005 4.6388 4.6388
11/8/2005 4.5512 4.5512
11/7/2005 4.6223 4.6223
11/4/2005 4.659 4.659
11/3/2005 4.6465 4.6465
11/2/2005 4.6036 4.6036
11/1/2005 4.5629 4.5629
10/31/2005 4.5506 4.5506
10/28/2005 4.5648 4.5648
10/27/2005 4.5463 4.5463
10/26/2005 4.5827 4.5827
10/25/2005 4.5341 4.5341
10/24/2005 4.4436 4.4436
10/21/2005 4.3837 4.3837
10/20/2005 4.4295 4.4295
10/19/2005 4.4594 4.4594
10/18/2005 4.4694 4.4694
10/17/2005 4.4934 4.4934
10/14/2005 4.4793 4.4793
10/13/2005 4.4612 4.4612
10/12/2005 4.4392 4.4392
10/11/2005 4.3914 4.3914
10/10/2005 4.3557 4.3557
10/7/2005 4.354 4.354
10/6/2005 4.3873 4.3873
10/5/2005 4.3398 4.3398
10/4/2005 4.3674 4.3674
10/3/2005 4.3833 4.3833
9/30/2005 4.324 4.324
9/29/2005 4.2945 4.2945
9/28/2005 4.2534 4.2534
9/27/2005 4.2808 4.2808
9/26/2005 4.2906 4.2906
9/23/2005 4.2456 4.2456
9/22/2005 4.1795 4.1795
9/21/2005 4.166 4.166
9/20/2005 4.2418 4.2418
9/19/2005 4.2457 4.2457
9/16/2005 4.271 4.271
9/15/2005 4.2107 4.2107
9/14/2005 4.1643 4.1643
9/13/2005 4.1258 4.1258
9/12/2005 4.1701 4.1701
9/9/2005 4.1181 4.1181
9/8/2005 4.1452 4.1452
9/7/2005 4.1375 4.1375
9/6/2005 4.0953 4.0953
9/5/2005 4.0285 4.0285
9/2/2005 4.0362 4.0362
9/1/2005 4.0307 4.0307
8/31/2005 4.0137 4.0137
8/30/2005 4.0899 4.0899
8/29/2005 4.1667 4.1667
8/26/2005 4.186 4.186
8/25/2005 4.1553 4.1553
8/24/2005 4.1649 4.1649
8/23/2005 4.1784 4.1784
8/22/2005 4.2073 4.2073
8/19/2005 4.2054 4.2054
8/18/2005 4.1978 4.1978
8/17/2005 4.2674 4.2674
8/16/2005 4.2056 4.2056
8/15/2005 4.281 4.281
8/12/2005 4.2423 4.2423
8/11/2005 4.3203 4.3203
8/10/2005 4.3903 4.3903
8/9/2005 4.3883 4.3883
8/8/2005 4.4184 4.4184
8/5/2005 4.3861 4.3861
8/4/2005 4.312 4.312
8/3/2005 4.292 4.292
8/2/2005 4.3338 4.3338
8/1/2005 4.3099 4.3099
7/29/2005 4.276 4.276
7/28/2005 4.1891 4.1891
7/27/2005 4.2541 4.2541
7/26/2005 4.2245 4.2245
7/25/2005 4.2442 4.2442
7/22/2005 4.2185 4.2185
7/21/2005 4.2757 4.2757
7/20/2005 4.1576 4.1576
7/19/2005 4.1792 4.1792
7/18/2005 4.2204 4.2204
7/15/2005 4.1635 4.1635
7/14/2005 4.1732 4.1732
7/13/2005 4.1556 4.1556
7/12/2005 4.142 4.142
7/11/2005 4.0933 4.0933
7/8/2005 4.0914 4.0914
7/7/2005 4.0605 4.0605
7/6/2005 4.0682 4.0682
7/5/2005 4.105 4.105
7/4/2005 4.0373 4.0373
7/1/2005 4.0489 4.0489
6/30/2005 3.913 3.913
6/29/2005 3.9779 3.9779
6/28/2005 3.9703 3.9703
6/27/2005 3.9017 3.9017
6/24/2005 3.917 3.917
6/23/2005 3.9514 3.9514
6/22/2005 3.94 3.94
6/21/2005 4.0396 4.0396
6/20/2005 4.1091 4.1091
6/17/2005 4.0705 4.0705
6/16/2005 4.0667 4.0667
6/15/2005 4.0995 4.0995
6/14/2005 4.1072 4.1072
6/13/2005 4.0918 4.0918
6/10/2005 4.0514 4.0514
6/9/2005 3.9483 3.9483
6/8/2005 3.9331 3.9331
6/7/2005 3.901 3.901
6/6/2005 3.9522 3.9522
6/3/2005 3.9732 3.9732
6/2/2005 3.9032 3.9032
6/1/2005 3.8844 3.8844
5/31/2005 3.981 3.981
5/30/2005 4.069 4.069
5/27/2005 4.0709 4.0709
5/26/2005 4.0787 4.0787
5/25/2005 4.0864 4.0864
5/24/2005 4.0271 4.0271
5/23/2005 4.0538 4.0538
5/20/2005 4.121 4.121
5/19/2005 4.1115 4.1115
5/18/2005 4.0884 4.0884
5/17/2005 4.1134 4.1134
5/16/2005 4.1269 4.1269
5/13/2005 4.1173 4.1173
5/12/2005 4.1703 4.1703
5/11/2005 4.202 4.202
5/10/2005 4.2 4.2
5/9/2005 4.2816 4.2816
5/6/2005 4.2576 4.2576
5/5/2005 4.1543 4.1543
5/4/2005 4.1859 4.1859
5/3/2005 4.1641 4.1641
5/2/2005 4.1858 4.1858
4/29/2005 4.1976 4.1976
4/28/2005 4.1442 4.1442
4/27/2005 4.2232 4.2232
4/26/2005 4.2649 4.2649
4/25/2005 4.2469 4.2469
4/22/2005 4.2449 4.2449
4/21/2005 4.2945 4.2945
4/20/2005 4.1853 4.1853
4/19/2005 4.2109 4.2109
4/18/2005 4.2704 4.2704
4/15/2005 4.2406 4.2406
4/14/2005 4.308 4.308
4/13/2005 4.3599 4.3599
4/12/2005 4.3518 4.3518
4/11/2005 4.428 4.428
4/8/2005 4.4683 4.4683
4/7/2005 4.4802 4.4802
4/6/2005 4.4215 4.4215
4/5/2005 4.4678 4.4678
4/4/2005 4.4556 4.4556
4/1/2005 4.4475 4.4475
3/31/2005 4.4815 4.4815
3/30/2005 4.5462 4.5462
3/29/2005 4.5726 4.5726
3/28/2005 4.64 4.64
3/25/2005 4.5929 4.5929
3/24/2005 4.5968 4.5968
3/23/2005 4.5841 4.5841
3/22/2005 4.6411 4.6411
3/21/2005 4.5229 4.5229
3/18/2005 4.5066 4.5066
3/17/2005 4.464 4.464
3/16/2005 4.5062 4.5062
3/15/2005 4.5445 4.5445
3/14/2005 4.508 4.508
3/11/2005 4.5423 4.5423
3/10/2005 4.4633 4.4633
3/9/2005 4.5196 4.5196
3/8/2005 4.3911 4.3911
3/7/2005 4.3076 4.3076
3/4/2005 4.3076 4.3076
3/3/2005 4.3768 4.3768
3/2/2005 4.3767 4.3767
3/1/2005 4.3647 4.3647
2/28/2005 4.3766 4.3766
2/25/2005 4.2638 4.2638
2/24/2005 4.2833 4.2833
2/23/2005 4.2617 4.2617
2/22/2005 4.2853 4.2853
2/21/2005 4.2616 4.2616
2/18/2005 4.2655 4.2655
2/17/2005 4.1794 4.1794
2/16/2005 4.1521 4.1521
2/15/2005 4.096 4.096
2/14/2005 4.069 4.069
2/11/2005 4.0844 4.0844
2/10/2005 4.0888 4.0888
2/9/2005 3.979 3.979
2/8/2005 4.0153 4.0153
2/7/2005 4.0501 4.0501
2/4/2005 4.0753 4.0753
2/3/2005 4.163 4.163
2/2/2005 4.1396 4.1396
2/1/2005 4.1377 4.1377
1/31/2005 4.128 4.128
1/28/2005 4.1397 4.1397
1/27/2005 4.2179 4.2179
1/26/2005 4.1964 4.1964
1/25/2005 4.1925 4.1925
1/24/2005 4.1204 4.1204
1/21/2005 4.1399 4.1399
1/20/2005 4.1614 4.1614
1/19/2005 4.1711 4.1711
1/18/2005 4.1848 4.1848
1/17/2005 4.2082 4.2082
1/14/2005 4.208 4.208
1/13/2005 4.1635 4.1635
1/12/2005 4.2337 4.2337
1/11/2005 4.2357 4.2357
1/10/2005 4.269 4.269
1/7/2005 4.269 4.269
1/6/2005 4.2612 4.2612
1/5/2005 4.2808 4.2808
1/4/2005 4.2886 4.2886
1/3/2005 4.2104 4.2104
12/31/2004 4.2182 4.2182
12/30/2004 4.2534 4.2534
12/29/2004 4.322 4.322
12/28/2004 4.2906 4.2906
12/27/2004 4.2965 4.2965
12/24/2004 4.2144 4.2144
12/23/2004 4.2242 4.2242
12/22/2004 4.1931 4.1931
12/21/2004 4.1622 4.1622
12/20/2004 4.1835 4.1835
12/17/2004 4.199 4.199
12/16/2004 4.1836 4.1836
12/15/2004 4.0739 4.0739
12/14/2004 4.1219 4.1219
12/13/2004 4.147 4.147
12/10/2004 4.1489 4.1489
12/9/2004 4.1664 4.1664
12/8/2004 4.1183 4.1183
12/7/2004 4.2206 4.2206
12/6/2004 4.2206 4.2206
12/3/2004 4.2497 4.2497
12/2/2004 4.4063 4.4063
12/1/2004 4.3649 4.3649
11/30/2004 4.3492 4.3492
11/29/2004 4.3179 4.3179
11/26/2004 4.2459 4.2459
11/25/2004 4.1937 4.1937
11/24/2004 4.1976 4.1976
11/23/2004 4.1823 4.1823
11/22/2004 4.1784 4.1784
11/19/2004 4.2035 4.2035
11/18/2004 4.1134 4.1134
11/17/2004 4.1287 4.1287
11/16/2004 4.2056 4.2056
11/15/2004 4.1863 4.1863
11/12/2004 4.1786 4.1786
11/11/2004 4.2519 4.2519
11/10/2004 4.2394 4.2394
11/9/2004 4.2257 4.2257
11/8/2004 4.2158 4.2158
11/5/2004 4.1727 4.1727
11/4/2004 4.0716 4.0716
11/3/2004 4.0736 4.0736
11/2/2004 4.0465 4.0465
11/1/2004 4.0698 4.0698
10/29/2004 4.0235 4.0235
10/28/2004 4.0487 4.0487
10/27/2004 4.0816 4.0816
10/26/2004 3.9988 3.9988
10/25/2004 3.9701 3.9701
10/22/2004 3.974 3.974
10/21/2004 3.9952 3.9952
10/20/2004 3.98 3.98
10/19/2004 4.0318 4.0318
10/18/2004 4.0415 4.0415
10/15/2004 4.0531 4.0531
10/14/2004 4.0244 4.0244
10/13/2004 4.0552 4.0552
10/12/2004 4.0976 4.0976
10/11/2004 4.1305 4.1305
10/8/2004 4.1286 4.1286
10/7/2004 4.2416 4.2416
10/6/2004 4.2201 4.2201
10/5/2004 4.1734 4.1734
10/4/2004 4.1637 4.1637
10/1/2004 4.1871 4.1871
9/30/2004 4.1194 4.1194
9/29/2004 4.0866 4.0866
9/28/2004 4.0024 4.0024
9/27/2004 3.9891 3.9891
9/24/2004 4.0273 4.0273
9/23/2004 4.0161 4.0161
9/22/2004 3.978 3.978
9/21/2004 4.0353 4.0353
9/20/2004 4.0564 4.0564
9/17/2004 4.1064 4.1064
9/16/2004 4.0719 4.0719
9/15/2004 4.1643 4.1643
9/14/2004 4.1238 4.1238
9/13/2004 4.1354 4.1354
9/10/2004 4.1856 4.1856
9/9/2004 4.1953 4.1953
9/8/2004 4.1587 4.1587
9/7/2004 4.238 4.238
9/6/2004 4.2906 4.2906
9/3/2004 4.2945 4.2945
9/2/2004 4.2129 4.2129
9/1/2004 4.1128 4.1128
8/31/2004 4.1167 4.1167
8/30/2004 4.1763 4.1763
8/27/2004 4.2265 4.2265
8/26/2004 4.2092 4.2092
8/25/2004 4.2615 4.2615
8/24/2004 4.2712 4.2712
8/23/2004 4.2829 4.2829
8/20/2004 4.2325 4.2325
8/19/2004 4.2132 4.2132
8/18/2004 4.2364 4.2364
8/17/2004 4.1901 4.1901
8/16/2004 4.2616 4.2616
8/13/2004 4.2268 4.2268
8/12/2004 4.2538 4.2538
8/11/2004 4.2713 4.2713
8/10/2004 4.2888 4.2888
8/9/2004 4.2561 4.2561
8/6/2004 4.2196 4.2196
8/5/2004 4.4 4.4
8/4/2004 4.4176 4.4176
8/3/2004 4.4236 4.4236
8/2/2004 4.4491 4.4491
7/30/2004 4.4747 4.4747
7/29/2004 4.5754 4.5754
7/28/2004 4.5834 4.5834
7/27/2004 4.6132 4.6132
7/26/2004 4.4848 4.4848
7/23/2004 4.4301 4.4301
7/22/2004 4.444 4.444
7/21/2004 4.4656 4.4656
7/20/2004 4.4441 4.4441
7/19/2004 4.3509 4.3509
7/16/2004 4.3491 4.3491
7/15/2004 4.4797 4.4797
7/14/2004 4.4797 4.4797
7/13/2004 4.47 4.47
7/12/2004 4.4447 4.4447
7/9/2004 4.4565 4.4565
7/8/2004 4.4704 4.4704
7/7/2004 4.4743 4.4743
7/6/2004 4.4743 4.4743
7/5/2004 4.4549 4.4549
7/2/2004 4.4589 4.4589
7/1/2004 4.5629 4.5629
6/30/2004 4.5806 4.5806
6/29/2004 4.6855 4.6855
6/28/2004 4.7354 4.7354
6/25/2004 4.6459 4.6459
6/24/2004 4.644 4.644
6/23/2004 4.6956 4.6956
6/22/2004 4.7175 4.7175
6/21/2004 4.6837 4.6837
6/18/2004 4.7096 4.7096
6/17/2004 4.6779 4.6779
6/16/2004 4.7216 4.7216
6/15/2004 4.676 4.676
6/14/2004 4.8698 4.8698
6/11/2004 4.7995 4.7995
6/10/2004 4.7935 4.7935
6/9/2004 4.8055 4.8055
6/8/2004 4.7615 4.7615
6/7/2004 4.7596 4.7596
6/4/2004 4.7715 4.7715
6/3/2004 4.7099 4.7099
6/2/2004 4.7377 4.7377
6/1/2004 4.7001 4.7001
5/31/2004 4.6468 4.6468
5/28/2004 4.6468 4.6468
5/27/2004 4.5999 4.5999
5/26/2004 4.6549 4.6549
5/25/2004 4.7201 4.7201
5/24/2004 4.732 4.732
5/21/2004 4.7558 4.7558
5/20/2004 4.7004 4.7004
5/19/2004 4.7717 4.7717
5/18/2004 4.7341 4.7341
5/17/2004 4.6887 4.6887
5/14/2004 4.7678 4.7678
5/13/2004 4.8516 4.8516
5/12/2004 4.805 4.805
5/11/2004 4.7462 4.7462
5/10/2004 4.7921 4.7921
5/7/2004 4.7709 4.7709
5/6/2004 4.598 4.598
5/5/2004 4.5794 4.5794
5/4/2004 4.5649 4.5649
5/3/2004 4.4993 4.4993
4/30/2004 4.5053 4.5053
4/29/2004 4.5356 4.5356
4/28/2004 4.4967 4.4967
4/27/2004 4.3832 4.3832
4/26/2004 4.4336 4.4336
4/23/2004 4.4578 4.4578
4/22/2004 4.3807 4.3807
4/21/2004 4.423 4.423
4/20/2004 4.4573 4.4573
4/19/2004 4.3845 4.3845
4/16/2004 4.3383 4.3383
4/15/2004 4.4003 4.4003
4/14/2004 4.364 4.364
4/13/2004 4.3519 4.3519
4/12/2004 4.2285 4.2285
4/9/2004 4.1909 4.1909
4/8/2004 4.1909 4.1909
4/7/2004 4.1573 4.1573
4/6/2004 4.1475 4.1475
4/5/2004 4.2064 4.2064
4/2/2004 4.1435 4.1435
4/1/2004 3.8786 3.8786
3/31/2004 3.8348 3.8348
3/30/2004 3.8939 3.8939
3/29/2004 3.8882 3.8882
3/26/2004 3.8292 3.8292
3/25/2004 3.7368 3.7368
3/24/2004 3.7069 3.7069
3/23/2004 3.6901 3.6901
3/22/2004 3.7126 3.7126
3/19/2004 3.771 3.771
3/18/2004 3.7542 3.7542
3/17/2004 3.7111 3.7111
3/16/2004 3.6794 3.6794
3/15/2004 3.7619 3.7619
3/12/2004 3.777 3.777
3/11/2004 3.6985 3.6985
3/10/2004 3.7285 3.7285
3/9/2004 3.7211 3.7211
3/8/2004 3.768 3.768
3/5/2004 3.8491 3.8491
3/4/2004 4.0151 4.0151
3/3/2004 4.0498 4.0498
3/2/2004 4.0421 4.0421
3/1/2004 3.973 3.973
2/27/2004 3.9711 3.9711
2/26/2004 4.0344 4.0344
2/25/2004 4.0075 4.0075
2/24/2004 4.0229 4.0229
2/23/2004 4.0363 4.0363
2/20/2004 4.0961 4.0961
2/19/2004 4.0306 4.0306
2/18/2004 4.0479 4.0479
2/17/2004 4.0383 4.0383
2/16/2004 4.0402 4.0402
2/13/2004 4.0402 4.0402
2/12/2004 4.0441 4.0441
2/11/2004 4.0306 4.0306
2/10/2004 4.1121 4.1121
2/9/2004 4.052 4.052
2/6/2004 4.0772 4.0772
2/5/2004 4.1669 4.1669
2/4/2004 4.1123 4.1123
2/3/2004 4.0968 4.0968
2/2/2004 4.1455 4.1455
1/30/2004 4.1319 4.1319
1/29/2004 4.1729 4.1729
1/28/2004 4.1885 4.1885
1/27/2004 4.0738 4.0738
1/26/2004 4.1301 4.1301
1/23/2004 4.072 4.072
1/22/2004 3.953 3.953
1/21/2004 4.0182 4.0182
1/20/2004 4.0548 4.0548
1/19/2004 4.0298 4.0298
1/16/2004 4.0299 4.0299
1/15/2004 3.9688 3.9688
1/14/2004 3.9937 3.9937
1/13/2004 4.011 4.011
1/12/2004 4.0861 4.0861
1/9/2004 4.0803 4.0803
1/8/2004 4.2553 4.2553
1/7/2004 4.2416 4.2416
1/6/2004 4.271 4.271
1/5/2004 4.3774 4.3774
1/2/2004 4.3794 4.3794
1/1/2004 4.2455 4.2455
12/31/2003 4.2455 4.2455
12/30/2003 4.2573 4.2573
12/29/2003 4.2417 4.2417
12/26/2003 4.1503 4.1503
12/25/2003 4.1833 4.1833
12/24/2003 4.1834 4.1834
12/23/2003 4.2593 4.2593
12/22/2003 4.1679 4.1679
12/19/2003 4.1332 4.1332
12/18/2003 4.1256 4.1256
12/17/2003 4.1816 4.1816
12/16/2003 4.2127 4.2127
12/15/2003 4.2574 4.2574
12/12/2003 4.2379 4.2379
12/11/2003 4.2302 4.2302
12/10/2003 4.316 4.316
12/9/2003 4.3513 4.3513
12/8/2003 4.2672 4.2672
12/5/2003 4.2303 4.2303
12/4/2003 4.365 4.365
12/3/2003 4.4023 4.4023
12/2/2003 4.3787 4.3787
12/1/2003 4.3846 4.3846
11/28/2003 4.3316 4.3316
11/27/2003 4.2459 4.2459
11/26/2003 4.2459 4.2459
11/25/2003 4.1841 4.1841
11/24/2003 4.2286 4.2286
11/21/2003 4.1592 4.1592
11/20/2003 4.1516 4.1516
11/19/2003 4.2364 4.2364
11/18/2003 4.1421 4.1421
11/17/2003 4.194 4.194
11/14/2003 4.2171 4.2171
11/13/2003 4.269 4.269
11/12/2003 4.3983 4.3983
11/11/2003 4.4464 4.4464
11/10/2003 4.4464 4.4464
11/7/2003 4.4383 4.4383
11/6/2003 4.4081 4.4081
11/5/2003 4.3522 4.3522
11/4/2003 4.2947 4.2947
11/3/2003 4.3403 4.3403
10/31/2003 4.2927 4.2927
10/30/2003 4.3422 4.3422
10/29/2003 4.2946 4.2946
10/28/2003 4.1768 4.1768
10/27/2003 4.2592 4.2592
10/24/2003 4.2297 4.2297
10/23/2003 4.3163 4.3163
10/22/2003 4.2513 4.2513
10/21/2003 4.342 4.342
10/20/2003 4.3817 4.3817
10/17/2003 4.3876 4.3876
10/16/2003 4.4593 4.4593
10/15/2003 4.3974 4.3974
10/14/2003 4.3439 4.3439
10/13/2003 4.2513 4.2513
10/10/2003 4.269 4.269
10/9/2003 4.2906 4.2906
10/8/2003 4.2357 4.2357
10/7/2003 4.2573 4.2573
10/6/2003 4.1695 4.1695
10/3/2003 4.1987 4.1987
10/2/2003 3.9926 3.9926
10/1/2003 3.9318 3.9318
9/30/2003 3.9376 3.9376
9/29/2003 4.0751 4.0751
9/26/2003 4.0005 4.0005
9/25/2003 4.081 4.081
9/24/2003 4.1331 4.1331
9/23/2003 4.2047 4.2047
9/22/2003 4.2164 4.2164
9/19/2003 4.1602 4.1602
9/18/2003 4.1622 4.1622
9/17/2003 4.1777 4.1777
9/16/2003 4.2749 4.2749
9/15/2003 4.2671 4.2671
9/12/2003 4.2516 4.2516
9/11/2003 4.3141 4.3141
9/10/2003 4.2711 4.2711
9/9/2003 4.3552 4.3552
9/8/2003 4.4262 4.4262
9/5/2003 4.3474 4.3474
9/4/2003 4.5034 4.5034
9/3/2003 4.5933 4.5933
9/2/2003 4.5993 4.5993
9/1/2003 4.4577 4.4577
8/29/2003 4.4636 4.4636
8/28/2003 4.4141 4.4141
8/27/2003 4.5349 4.5349
8/26/2003 4.4733 4.4733
8/25/2003 4.5249 4.5249
8/22/2003 4.4732 4.4732
8/21/2003 4.4751 4.4751
8/20/2003 4.4355 4.4355
8/19/2003 4.3609 4.3609
8/18/2003 4.4572 4.4572
8/15/2003 4.5285 4.5285
8/14/2003 4.4887 4.4887
8/13/2003 4.5602 4.5602
8/12/2003 4.4256 4.4256
8/11/2003 4.353 4.353
8/8/2003 4.2694 4.2694
8/7/2003 4.2168 4.2168
8/6/2003 4.2674 4.2674
8/5/2003 4.3899 4.3899
8/4/2003 4.2833 4.2833
8/1/2003 4.3834 4.3834
7/31/2003 4.4055 4.4055
7/30/2003 4.307 4.307
7/29/2003 4.4381 4.4381
7/28/2003 4.2802 4.2802
7/25/2003 4.175 4.175
7/24/2003 4.1646 4.1646
7/23/2003 4.1084 4.1084
7/22/2003 4.1223 4.1223
7/21/2003 4.2105 4.2105
7/18/2003 3.9989 3.9989
7/17/2003 3.92 3.92
7/16/2003 3.918 3.918
7/15/2003 3.9807 3.9807
7/14/2003 3.724 3.724
7/11/2003 3.6265 3.6265
7/10/2003 3.655 3.655
7/9/2003 3.6798 3.6798
7/8/2003 3.7143 3.7143
7/7/2003 3.7315 3.7315
7/4/2003 3.6474 3.6474
7/3/2003 3.6607 3.6607
7/2/2003 3.5358 3.5358
7/1/2003 3.5471 3.5471
6/30/2003 3.5133 3.5133
6/27/2003 3.5415 3.5415
6/26/2003 3.5416 3.5416
6/25/2003 3.4035 3.4035
6/24/2003 3.2489 3.2489
6/23/2003 3.3113 3.3113
6/20/2003 3.3648 3.3648
6/19/2003 3.3374 3.3374
6/18/2003 3.3614 3.3614
6/17/2003 3.2605 3.2605
6/16/2003 3.1716 3.1716
6/13/2003 3.1121 3.1121
6/12/2003 3.163 3.163
6/11/2003 3.2101 3.2101
6/10/2003 3.1903 3.1903
6/9/2003 3.2758 3.2758
6/6/2003 3.351 3.351
6/5/2003 3.342 3.342
6/4/2003 3.2927 3.2927
6/3/2003 3.3293 3.3293
6/2/2003 3.4085 3.4085
5/30/2003 3.3699 3.3699
5/29/2003 3.3352 3.3352
5/28/2003 3.4235 3.4235
5/27/2003 3.4106 3.4106
5/26/2003 3.3317 3.3317
5/23/2003 3.3354 3.3354
5/22/2003 3.3138 3.3138
5/21/2003 3.3963 3.3963
5/20/2003 3.3542 3.3542
5/19/2003 3.485 3.485
5/16/2003 3.4185 3.4185
5/15/2003 3.5297 3.5297
5/14/2003 3.5204 3.5204
5/13/2003 3.6025 3.6025
5/12/2003 3.6419 3.6419
5/9/2003 3.6796 3.6796
5/8/2003 3.6807 3.6807
5/7/2003 3.675 3.675
5/6/2003 3.7839 3.7839
5/5/2003 3.8841 3.8841
5/2/2003 3.919 3.919
5/1/2003 3.8397 3.8397
4/30/2003 3.8359 3.8359
4/29/2003 3.9267 3.9267
4/28/2003 3.9015 3.9015
4/25/2003 3.888 3.888
4/24/2003 3.9189 3.9189
4/23/2003 3.9753 3.9753
4/22/2003 3.9636 3.9636
4/21/2003 3.9811 3.9811
4/18/2003 3.9558 3.9558
4/17/2003 3.9558 3.9558
4/16/2003 3.9382 3.9382
4/15/2003 3.9848 3.9848
4/14/2003 4.014 4.014
4/11/2003 3.9712 3.9712
4/10/2003 3.9421 3.9421
4/9/2003 3.8957 3.8957
4/8/2003 3.9324 3.9324
4/7/2003 3.9769 3.9769
4/4/2003 3.9517 3.9517
4/3/2003 3.9092 3.9092
4/2/2003 3.9285 3.9285
4/1/2003 3.8095 3.8095
3/31/2003 3.796 3.796
3/28/2003 3.8976 3.8976
3/27/2003 3.9226 3.9226
3/26/2003 3.9284 3.9284
3/25/2003 3.9419 3.9419
3/24/2003 3.9651 3.9651
3/21/2003 4.1031 4.1031
3/20/2003 3.9534 3.9534
3/19/2003 3.9843 3.9843
3/18/2003 3.9053 3.9053
3/17/2003 3.8384 3.8384
3/14/2003 3.7002 3.7002
3/13/2003 3.7456 3.7456
3/12/2003 3.5808 3.5808
3/11/2003 3.5809 3.5809
3/10/2003 3.5606 3.5606
3/7/2003 3.6406 3.6406
3/6/2003 3.6558 3.6558
3/5/2003 3.6278 3.6278
3/4/2003 3.6465 3.6465
3/3/2003 3.6728 3.6728
2/28/2003 3.6897 3.6897
2/27/2003 3.7367 3.7367
2/26/2003 3.765 3.765
2/25/2003 3.8198 3.8198
2/24/2003 3.8445 3.8445
2/21/2003 3.8882 3.8882
2/20/2003 3.8673 3.8673
2/19/2003 3.8825 3.8825
2/18/2003 3.9494 3.9494
2/17/2003 3.9628 3.9628
2/14/2003 3.961 3.961
2/13/2003 3.8769 3.8769
2/12/2003 3.9081 3.9081
2/11/2003 3.9566 3.9566
2/10/2003 3.9643 3.9643
2/7/2003 3.9294 3.9294
2/6/2003 3.945 3.945
2/5/2003 3.9955 3.9955
2/4/2003 3.9199 3.9199
2/3/2003 3.9916 3.9916
1/31/2003 3.9625 3.9625
1/30/2003 3.9606 3.9606
1/29/2003 4.0208 4.0208
1/28/2003 3.9683 3.9683
1/27/2003 3.9625 3.9625
1/24/2003 3.9278 3.9278
1/23/2003 3.9355 3.9355
1/22/2003 3.9144 3.9144
1/21/2003 3.9703 3.9703
1/20/2003 4.015 4.015
1/17/2003 4.0091 4.0091
1/16/2003 4.0773 4.0773
1/15/2003 4.0597 4.0597
1/14/2003 4.0772 4.0772
1/13/2003 4.1202 4.1202
1/10/2003 4.132 4.132
1/9/2003 4.179 4.179
1/8/2003 4.0169 4.0169
1/7/2003 4.0053 4.0053
1/6/2003 4.0518 4.0518
1/3/2003 4.0169 4.0169
1/2/2003 4.0305 4.0305
1/1/2003 3.8175 3.8175
12/31/2002 3.816 3.816
12/30/2002 3.7949 3.7949
12/27/2002 3.8083 3.8083
12/26/2002 3.9016 3.9016
12/25/2002 3.9323 3.9323
12/24/2002 3.9342 3.9342
12/23/2002 3.9707 3.9707
12/20/2002 3.9573 3.9573
12/19/2002 3.9382 3.9382
12/18/2002 4.0343 4.0343
12/17/2002 4.1236 4.1236
12/16/2002 4.1587 4.1587
12/13/2002 4.0672 4.0672
12/12/2002 4.0228 4.0228
12/11/2002 4.0228 4.0228
12/10/2002 4.0459 4.0459
12/9/2002 4.0344 4.0344
12/6/2002 4.0827 4.0827
12/5/2002 4.137 4.137
12/4/2002 4.1506 4.1506
12/3/2002 4.2013 4.2013
12/2/2002 4.2287 4.2287
11/29/2002 4.2052 4.2052
11/28/2002 4.2503 4.2503
11/27/2002 4.258 4.258
11/26/2002 4.0652 4.0652
11/25/2002 4.1737 4.1737
11/22/2002 4.1776 4.1776
11/21/2002 4.1522 4.1522
11/20/2002 4.0575 4.0575
11/19/2002 3.977 3.977
11/18/2002 3.9961 3.9961
11/15/2002 4.0287 4.0287
11/14/2002 4.0556 4.0556
11/13/2002 3.8388 3.8388
11/12/2002 3.8482 3.8482
11/11/2002 3.8388 3.8388
11/8/2002 3.8558 3.8558
11/7/2002 3.8916 3.8916
11/6/2002 4.033 4.033
11/5/2002 4.0696 4.0696
11/4/2002 4.0427 4.0427
11/1/2002 4.0045 4.0045
10/31/2002 3.8925 3.8925
10/30/2002 3.961 3.961
10/29/2002 3.9382 3.9382
10/28/2002 4.0855 4.0855
10/25/2002 4.0914 4.0914
10/24/2002 4.1147 4.1147
10/23/2002 4.231 4.231
10/22/2002 4.2584 4.2584
10/21/2002 4.251 4.251
10/18/2002 4.1053 4.1053
10/17/2002 4.2002 4.2002
10/16/2002 4.048 4.048
10/15/2002 3.9927 3.9927
10/14/2002 3.7856 3.7856
10/11/2002 3.7782 3.7782
10/10/2002 3.6566 3.6566
10/9/2002 3.567 3.567
10/8/2002 3.6331 3.6331
10/7/2002 3.6131 3.6131
10/4/2002 3.6646 3.6646
10/3/2002 3.6835 3.6835
10/2/2002 3.6671 3.6671
10/1/2002 3.7152 3.7152
9/30/2002 3.5942 3.5942
9/27/2002 3.6584 3.6584
9/26/2002 3.764 3.764
9/25/2002 3.7475 3.7475
9/24/2002 3.6446 3.6446
9/23/2002 3.6943 3.6943
9/20/2002 3.785 3.785
9/19/2002 3.7761 3.7761
9/18/2002 3.8413 3.8413
9/17/2002 3.8172 3.8172
9/16/2002 3.9126 3.9126
9/13/2002 3.9052 3.9052
9/12/2002 3.96 3.96
9/11/2002 4.0584 4.0584
9/10/2002 3.9941 3.9941
9/9/2002 4.0585 4.0585
9/6/2002 4.0113 4.0113
9/5/2002 3.925 3.925
9/4/2002 3.9608 3.9608
9/3/2002 3.9627 3.9627
9/2/2002 4.1332 4.1332
8/30/2002 4.1409 4.1409
8/29/2002 4.1374 4.1374
8/28/2002 4.2121 4.2121
8/27/2002 4.2816 4.2816
8/26/2002 4.2237 4.2237
8/23/2002 4.2334 4.2334
8/22/2002 4.3166 4.3166
8/21/2002 4.1971 4.1971
8/20/2002 4.1475 4.1475
8/19/2002 4.2838 4.2838
8/16/2002 4.3244 4.3244
8/15/2002 4.1802 4.1802
8/14/2002 4.1194 4.1194
8/13/2002 4.0852 4.0852
8/12/2002 4.215 4.215
8/9/2002 4.255 4.255
8/8/2002 4.3945 4.3945
8/7/2002 4.3038 4.3038
8/6/2002 4.3315 4.3315
8/5/2002 4.2082 4.2082
8/2/2002 4.2904 4.2904
8/1/2002 4.3893 4.3893
7/31/2002 4.4588 4.4588
7/30/2002 4.585 4.585
7/29/2002 4.5609 4.5609
7/26/2002 4.3817 4.3817
7/25/2002 4.3801 4.3801
7/24/2002 4.4852 4.4852
7/23/2002 4.4059 4.4059
7/22/2002 4.4437 4.4437
7/19/2002 4.5194 4.5194
7/18/2002 4.6057 4.6057
7/17/2002 4.6825 4.6825
7/16/2002 4.6805 4.6805
7/15/2002 4.626 4.626
7/12/2002 4.5718 4.5718
7/11/2002 4.6362 4.6362
7/10/2002 4.6121 4.6121
7/9/2002 4.7252 4.7252
7/8/2002 4.7945 4.7945
7/5/2002 4.856 4.856
7/4/2002 4.7618 4.7618
7/3/2002 4.7639 4.7639
7/2/2002 4.7254 4.7254
7/1/2002 4.7802 4.7802
6/28/2002 4.7965 4.7965
6/27/2002 4.821 4.821
6/26/2002 4.7417 4.7417
6/25/2002 4.817 4.817
6/24/2002 4.8272 4.8272
6/21/2002 4.7661 4.7661
6/20/2002 4.7885 4.7885
6/19/2002 4.7257 4.7257
6/18/2002 4.8333 4.8333
6/17/2002 4.8435 4.8435
6/14/2002 4.7967 4.7967
6/13/2002 4.8987 4.8987
6/12/2002 4.9624 4.9624
6/11/2002 4.9727 4.9727
6/10/2002 5.0264 5.0264
6/7/2002 5.0658 5.0658
6/6/2002 4.9746 4.9746
6/5/2002 5.0469 5.0469
6/4/2002 5.0262 5.0262
6/3/2002 4.9972 4.9972
5/31/2002 5.0427 5.0427
5/30/2002 5.0198 5.0198
5/29/2002 5.0611 5.0611
5/28/2002 5.1277 5.1277
5/27/2002 5.136 5.136
5/24/2002 5.1443 5.1443
5/23/2002 5.1482 5.1482
5/22/2002 5.1127 5.1127
5/21/2002 5.1481 5.1481
5/20/2002 5.1982 5.1982
5/17/2002 5.2506 5.2506
5/16/2002 5.1665 5.1665
5/15/2002 5.244 5.244
5/14/2002 5.2755 5.2755
5/13/2002 5.2207 5.2207
5/10/2002 5.1163 5.1163
5/9/2002 5.1619 5.1619
5/8/2002 5.2162 5.2162
5/7/2002 5.054 5.054
5/6/2002 5.0643 5.0643
5/3/2002 5.054 5.054
5/2/2002 5.0931 5.0931
5/1/2002 5.0579 5.0579
4/30/2002 5.0847 5.0847
4/29/2002 5.1198 5.1198
4/26/2002 5.0537 5.0537
4/25/2002 5.0928 5.0928
4/24/2002 5.1113 5.1113
4/23/2002 5.161 5.161
4/22/2002 5.1755 5.1755
4/19/2002 5.1962 5.1962
4/18/2002 5.198 5.198
4/17/2002 5.233 5.233
4/16/2002 5.192 5.192
4/15/2002 5.138 5.138
4/12/2002 5.156 5.156
4/11/2002 5.206 5.206
4/10/2002 5.233 5.233
4/9/2002 5.202 5.202
4/8/2002 5.262 5.262
4/5/2002 5.206 5.206
4/4/2002 5.258 5.258
4/3/2002 5.278 5.278
4/2/2002 5.341 5.341
4/1/2002 5.426 5.426
3/29/2002 5.396 5.396
3/28/2002 5.4 5.4
3/27/2002 5.341 5.341
3/26/2002 5.345 5.345
3/25/2002 5.408 5.408
3/22/2002 5.404 5.404
3/21/2002 5.365 5.365
3/20/2002 5.406 5.406
3/19/2002 5.286 5.286
3/18/2002 5.3 5.3
3/15/2002 5.327 5.327
3/14/2002 5.409 5.409
3/13/2002 5.279 5.279
3/12/2002 5.31 5.31
3/11/2002 5.32 5.32
3/8/2002 5.325 5.325
3/7/2002 5.227 5.227
3/6/2002 5.052 5.052
3/5/2002 5.001 5.001
3/4/2002 4.999 4.999
3/1/2002 4.981 4.981
2/28/2002 4.877 4.877
2/27/2002 4.833 4.833
2/26/2002 4.927 4.927
2/25/2002 4.849 4.849
2/22/2002 4.831 4.831
2/21/2002 4.853 4.853
2/20/2002 4.889 4.889
2/19/2002 4.873 4.873
2/18/2002 4.863 4.863
2/15/2002 4.875 4.875
2/14/2002 4.945 4.945
2/13/2002 4.987 4.987
2/12/2002 4.975 4.975
2/11/2002 4.907 4.907
2/8/2002 4.879 4.879
2/7/2002 4.939 4.939
2/6/2002 4.923 4.923
2/5/2002 4.894 4.894
2/4/2002 4.902 4.902
2/1/2002 4.985 4.985
1/31/2002 5.033 5.033
1/30/2002 5.014 5.014
1/29/2002 4.942 4.942
1/28/2002 5.073 5.073
1/25/2002 5.071 5.071
1/24/2002 5.008 5.008
1/23/2002 5.029 5.029
1/22/2002 4.919 4.919
1/21/2002 4.892 4.892
1/18/2002 4.894 4.894
1/17/2002 4.925 4.925
1/16/2002 4.839 4.839
1/15/2002 4.835 4.835
1/14/2002 4.876 4.876
1/11/2002 4.866 4.866
1/10/2002 4.979 4.979
1/9/2002 5.051 5.051
1/8/2002 5.08 5.08
1/7/2002 5.049 5.049
1/4/2002 5.128 5.128
1/3/2002 5.111 5.111
1/2/2002 5.16 5.16
1/1/2002 5.032 5.032
12/31/2001 5.051 5.051
12/28/2001 5.113 5.113
12/27/2001 5.065 5.065
12/26/2001 5.199 5.199
12/25/2001 5.136 5.136
12/24/2001 5.136 5.136
12/21/2001 5.084 5.084
12/20/2001 5.03 5.03
12/19/2001 5.047 5.047
12/18/2001 5.121 5.121
12/17/2001 5.186 5.186
12/14/2001 5.188 5.188
12/13/2001 5.073 5.073
12/12/2001 5.005 5.005
12/11/2001 5.051 5.051
12/10/2001 5.098 5.098
12/7/2001 5.167 5.167
12/6/2001 5.013 5.013
12/5/2001 4.893 4.893
12/4/2001 4.66 4.66
12/3/2001 4.687 4.687
11/30/2001 4.752 4.752
11/29/2001 4.756 4.756
11/28/2001 4.925 4.925
11/27/2001 4.919 4.919
11/26/2001 5.015 5.015
11/23/2001 4.987 4.987
11/22/2001 4.966 4.966
11/21/2001 5.013 5.013
11/20/2001 4.863 4.863
11/19/2001 4.798 4.798
11/16/2001 4.843 4.843
11/15/2001 4.762 4.762
11/14/2001 4.539 4.539
11/13/2001 4.378 4.378
11/12/2001 4.303 4.303
11/9/2001 4.303 4.303
11/8/2001 4.286 4.286
11/7/2001 4.178 4.178
11/6/2001 4.256 4.256
11/5/2001 4.296 4.296
11/2/2001 4.358 4.358
11/1/2001 4.24 4.24
10/31/2001 4.232 4.232
10/30/2001 4.41 4.41
10/29/2001 4.48 4.48
10/26/2001 4.529 4.529
10/25/2001 4.551 4.551
10/24/2001 4.596 4.596
10/23/2001 4.643 4.643
10/22/2001 4.633 4.633
10/19/2001 4.621 4.621
10/18/2001 4.577 4.577
10/17/2001 4.567 4.567
10/16/2001 4.559 4.559
10/15/2001 4.599 4.599
10/12/2001 4.669 4.669
10/11/2001 4.666 4.666
10/10/2001 4.597 4.597
10/9/2001 4.593 4.593
10/8/2001 4.506 4.506
10/5/2001 4.504 4.504
10/4/2001 4.506 4.506
10/3/2001 4.468 4.468
10/2/2001 4.501 4.501
10/1/2001 4.54 4.54
9/28/2001 4.588 4.588
9/27/2001 4.548 4.548
9/26/2001 4.628 4.628
9/25/2001 4.7 4.7
9/24/2001 4.716 4.716
9/21/2001 4.691 4.691
9/20/2001 4.742 4.742
9/19/2001 4.691 4.691
9/18/2001 4.707 4.707
9/17/2001 4.623 4.623
9/14/2001 4.553 4.553
9/13/2001 4.623 4.623
9/11/2001 4.809 4.809
9/10/2001 4.835 4.835
9/7/2001 4.79 4.79
9/6/2001 4.873 4.873
9/5/2001 4.967 4.967
9/4/2001 4.959 4.959
9/3/2001 4.826 4.826
8/31/2001 4.832 4.832
8/30/2001 4.812 4.812
8/29/2001 4.771 4.771
8/28/2001 4.836 4.836
8/27/2001 4.924 4.924
8/24/2001 4.922 4.922
8/23/2001 4.88 4.88
8/22/2001 4.894 4.894
8/21/2001 4.864 4.864
8/20/2001 4.902 4.902
8/17/2001 4.839 4.839
8/16/2001 4.94 4.94
8/15/2001 5 5
8/14/2001 4.966 4.966
8/13/2001 4.976 4.976
8/10/2001 4.98 4.98
8/9/2001 5.034 5.034
8/8/2001 5.05 5.05
8/7/2001 5.168 5.168
8/6/2001 5.153 5.153
8/3/2001 5.157 5.157
8/2/2001 5.151 5.151
8/1/2001 5.071 5.071
7/31/2001 5.054 5.054
7/30/2001 5.066 5.066
7/27/2001 5.098 5.098
7/26/2001 5.129 5.129
7/25/2001 5.182 5.182
7/24/2001 5.11 5.11
7/23/2001 5.104 5.104
7/20/2001 5.129 5.129
7/19/2001 5.106 5.106
7/18/2001 5.091 5.091
7/17/2001 5.204 5.204
7/16/2001 5.173 5.173
7/13/2001 5.217 5.217
7/12/2001 5.234 5.234
7/11/2001 5.289 5.289
7/10/2001 5.274 5.274
7/9/2001 5.327 5.327
7/6/2001 5.359 5.359
7/5/2001 5.391 5.391
7/4/2001 5.378 5.378
7/3/2001 5.38 5.38
7/2/2001 5.322 5.322
6/29/2001 5.412 5.412
6/28/2001 5.334 5.334
6/27/2001 5.235 5.235
6/26/2001 5.224 5.224
6/25/2001 5.13 5.13
6/22/2001 5.115 5.115
6/21/2001 5.172 5.172
6/20/2001 5.205 5.205
6/19/2001 5.236 5.236
6/18/2001 5.251 5.251
6/15/2001 5.232 5.232
6/14/2001 5.221 5.221
6/13/2001 5.263 5.263
6/12/2001 5.253 5.253
6/11/2001 5.284 5.284
6/8/2001 5.356 5.356
6/7/2001 5.324 5.324
6/6/2001 5.255 5.255
6/5/2001 5.269 5.269
6/4/2001 5.341 5.341
6/1/2001 5.364 5.364
5/31/2001 5.381 5.381
5/30/2001 5.509 5.509
5/29/2001 5.515 5.515
5/28/2001 5.494 5.494
5/25/2001 5.511 5.511
5/24/2001 5.491 5.491
5/23/2001 5.401 5.401
5/22/2001 5.41 5.41
5/21/2001 5.374 5.374
5/18/2001 5.405 5.405
5/17/2001 5.407 5.407
5/16/2001 5.445 5.445
5/15/2001 5.512 5.512
5/14/2001 5.42 5.42
5/11/2001 5.447 5.447
5/10/2001 5.295 5.295
5/9/2001 5.174 5.174
5/8/2001 5.245 5.245
5/7/2001 5.197 5.197
5/4/2001 5.205 5.205
5/3/2001 5.205 5.205
5/2/2001 5.288 5.288
5/1/2001 5.292 5.292
4/30/2001 5.338 5.338
4/27/2001 5.328 5.328
4/26/2001 5.192 5.192
4/25/2001 5.256 5.256
4/24/2001 5.209 5.209
4/23/2001 5.177 5.177
4/20/2001 5.288 5.288
4/19/2001 5.294 5.294
4/18/2001 5.146 5.146
4/17/2001 5.225 5.225
4/16/2001 5.254 5.254
4/13/2001 5.163 5.163
4/12/2001 5.169 5.169
4/11/2001 5.119 5.119
4/10/2001 5.083 5.083
4/9/2001 4.932 4.932
4/6/2001 4.89 4.89
4/5/2001 4.973 4.973
4/4/2001 4.914 4.914
4/3/2001 4.929 4.929
4/2/2001 4.977 4.977
3/30/2001 4.917 4.917
3/29/2001 4.997 4.997
3/28/2001 4.975 4.975
3/27/2001 5.011 5.011
3/26/2001 4.869 4.869
3/23/2001 4.815 4.815
3/22/2001 4.756 4.756
3/21/2001 4.778 4.778
3/20/2001 4.758 4.758
3/19/2001 4.813 4.813
3/16/2001 4.77 4.77
3/15/2001 4.786 4.786
3/14/2001 4.818 4.818
3/13/2001 4.929 4.929
3/12/2001 4.891 4.891
3/9/2001 4.929 4.929
3/8/2001 4.889 4.889
3/7/2001 4.899 4.899
3/6/2001 4.971 4.971
3/5/2001 4.976 4.976
3/2/2001 4.947 4.947
3/1/2001 4.874 4.874
2/28/2001 4.896 4.896
2/27/2001 4.952 4.952
2/26/2001 5.034 5.034
2/23/2001 5.097 5.097
2/22/2001 5.156 5.156
2/21/2001 5.139 5.139
2/20/2001 5.105 5.105
2/19/2001 5.097 5.097
2/16/2001 5.109 5.109
2/15/2001 5.166 5.166
2/14/2001 5.164 5.164
2/13/2001 5.07 5.07
2/12/2001 5.046 5.046
2/9/2001 5.03 5.03
2/8/2001 5.089 5.089
2/7/2001 5.187 5.187
2/6/2001 5.183 5.183
2/5/2001 5.167 5.167
2/2/2001 5.148 5.148
2/1/2001 5.086 5.086
1/31/2001 5.114 5.114
1/30/2001 5.229 5.229
1/29/2001 5.303 5.303
1/26/2001 5.268 5.268
1/25/2001 5.245 5.245
1/24/2001 5.305 5.305
1/23/2001 5.281 5.281
1/22/2001 5.225 5.225
1/19/2001 5.168 5.168
1/18/2001 5.114 5.114
1/17/2001 5.175 5.175
1/16/2001 5.23 5.23
1/15/2001 5.242 5.242
1/12/2001 5.25 5.25
1/11/2001 5.11 5.11
1/10/2001 5.104 5.104
1/9/2001 5 5
1/8/2001 4.956 4.956
1/5/2001 4.931 4.931
1/4/2001 5.039 5.039
1/3/2001 5.158 5.158
1/2/2001 4.915 4.915
1/1/2001 5.114 5.114
12/29/2000 5.112 5.112
12/28/2000 5.118 5.118
12/27/2000 5.104 5.104
12/26/2000 5.056 5.056
12/25/2000 5.008 5.008
12/22/2000 5.006 5.006
12/21/2000 5.025 5.025
12/20/2000 5.037 5.037
12/19/2000 5.188 5.188
12/18/2000 5.17 5.17
12/15/2000 5.18 5.18
12/14/2000 5.213 5.213
12/13/2000 5.258 5.258
12/12/2000 5.346 5.346
12/11/2000 5.362 5.362
12/8/2000 5.299 5.299
12/7/2000 5.309 5.309
12/6/2000 5.326 5.326
12/5/2000 5.418 5.418
12/4/2000 5.551 5.551
12/1/2000 5.503 5.503
11/30/2000 5.468 5.468
11/29/2000 5.524 5.524
11/28/2000 5.582 5.582
11/27/2000 5.624 5.624
11/24/2000 5.624 5.624
11/23/2000 5.612 5.612
11/22/2000 5.624 5.624
11/21/2000 5.652 5.652
11/20/2000 5.677 5.677
11/17/2000 5.704 5.704
11/16/2000 5.669 5.669
11/15/2000 5.711 5.711
11/14/2000 5.755 5.755
11/13/2000 5.766 5.766
11/10/2000 5.783 5.783
11/9/2000 5.825 5.825
11/8/2000 5.855 5.855
11/7/2000 5.866 5.866
11/6/2000 5.855 5.855
11/3/2000 5.827 5.827
11/2/2000 5.738 5.738
11/1/2000 5.742 5.742
10/31/2000 5.751 5.751
10/30/2000 5.732 5.732
10/27/2000 5.713 5.713
10/26/2000 5.69 5.69
10/25/2000 5.684 5.684
10/24/2000 5.615 5.615
10/23/2000 5.584 5.584
10/20/2000 5.632 5.632
10/19/2000 5.655 5.655
10/18/2000 5.667 5.667
10/17/2000 5.673 5.673
10/16/2000 5.732 5.732
10/13/2000 5.724 5.724
10/12/2000 5.709 5.709
10/11/2000 5.774 5.774
10/10/2000 5.772 5.772
10/9/2000 5.823 5.823
10/6/2000 5.812 5.812
10/5/2000 5.852 5.852
10/4/2000 5.886 5.886
10/3/2000 5.867 5.867
10/2/2000 5.823 5.823
9/29/2000 5.802 5.802
9/28/2000 5.812 5.812
9/27/2000 5.821 5.821
9/26/2000 5.802 5.802
9/25/2000 5.837 5.837
9/22/2000 5.848 5.848
9/21/2000 5.823 5.823
9/20/2000 5.897 5.897
9/19/2000 5.852 5.852
9/18/2000 5.871 5.871
9/15/2000 5.84 5.84
9/14/2000 5.785 5.785
9/13/2000 5.724 5.724
9/12/2000 5.772 5.772
9/11/2000 5.766 5.766
9/8/2000 5.739 5.739
9/7/2000 5.752 5.752
9/6/2000 5.724 5.724
9/5/2000 5.689 5.689
9/4/2000 5.683 5.683
9/1/2000 5.679 5.679
8/31/2000 5.725 5.725
8/30/2000 5.8 5.8
8/29/2000 5.808 5.808
8/28/2000 5.777 5.777
8/25/2000 5.729 5.729
8/24/2000 5.719 5.719
8/23/2000 5.727 5.727
8/22/2000 5.775 5.775
8/21/2000 5.781 5.781
8/18/2000 5.773 5.773
8/17/2000 5.81 5.81
8/16/2000 5.838 5.838
8/15/2000 5.802 5.802
8/14/2000 5.771 5.771
8/11/2000 5.79 5.79
8/10/2000 5.763 5.763
8/9/2000 5.916 5.916
8/8/2000 5.92 5.92
8/7/2000 5.956 5.956
8/4/2000 5.901 5.901
8/3/2000 5.952 5.952
8/2/2000 5.976 5.976
8/1/2000 5.984 5.984
7/31/2000 6.031 6.031
7/28/2000 6.034 6.034
7/27/2000 6 6
7/26/2000 6.027 6.027
7/25/2000 6.028 6.028
7/24/2000 6.034 6.034
7/21/2000 5.998 5.998
7/20/2000 6.002 6.002
7/19/2000 6.154 6.154
7/18/2000 6.141 6.141
7/17/2000 6.148 6.148
7/14/2000 6.096 6.096
7/13/2000 6.005 6.005
7/12/2000 6.08 6.08
7/11/2000 6.048 6.048
7/10/2000 6.035 6.035
7/7/2000 6.001 6.001
7/6/2000 6.048 6.048
7/5/2000 5.984 5.984
7/3/2000 5.989 5.989
6/30/2000 6.031 6.031
6/29/2000 6.027 6.027
6/28/2000 6.1 6.1
6/27/2000 6.085 6.085
6/26/2000 6.102 6.102
6/23/2000 6.185 6.185
6/22/2000 6.104 6.104
6/21/2000 6.113 6.113
6/20/2000 6.02 6.02
6/19/2000 5.999 5.999
6/16/2000 5.971 5.971
6/15/2000 6.05 6.05
6/14/2000 6.041 6.041
6/13/2000 6.116 6.116
6/12/2000 6.071 6.071
6/9/2000 6.126 6.126
6/8/2000 6.124 6.124
6/7/2000 6.141 6.141
6/6/2000 6.122 6.122
6/5/2000 6.122 6.122
6/2/2000 6.152 6.152
6/1/2000 6.191 6.191
5/31/2000 6.272 6.272
5/30/2000 6.376 6.376
5/29/2000 6.326 6.326
5/26/2000 6.331 6.331
5/25/2000 6.394 6.394
5/24/2000 6.47 6.47
5/23/2000 6.435 6.435
5/22/2000 6.439 6.439
5/19/2000 6.494 6.494
5/18/2000 6.54 6.54
5/17/2000 6.496 6.496
5/16/2000 6.424 6.424
5/15/2000 6.446 6.446
5/12/2000 6.512 6.512
5/11/2000 6.409 6.409
5/10/2000 6.42 6.42
5/9/2000 6.529 6.529
5/8/2000 6.56 6.56
5/5/2000 6.505 6.505
5/4/2000 6.427 6.427
5/3/2000 6.401 6.401
5/2/2000 6.299 6.299
5/1/2000 6.278 6.278
4/28/2000 6.212 6.212
4/27/2000 6.223 6.223
4/26/2000 6.13 6.13
4/25/2000 6.128 6.128
4/24/2000 6.017 6.017
4/21/2000 5.987 5.987
4/20/2000 5.994 5.994
4/19/2000 5.992 5.992
4/18/2000 6.059 6.059
4/17/2000 6.038 6.038
4/14/2000 5.85 5.85
4/13/2000 5.906 5.906
4/12/2000 5.935 5.935
4/11/2000 5.882 5.882
4/10/2000 5.771 5.771
4/7/2000 5.853 5.853
4/6/2000 5.934 5.934
4/5/2000 5.872 5.872
4/4/2000 5.895 5.895
4/3/2000 5.965 5.965
3/31/2000 6.004 6.004
3/30/2000 6.055 6.055
3/29/2000 6.147 6.147
3/28/2000 6.151 6.151
3/27/2000 6.185 6.185
3/24/2000 6.191 6.191
3/23/2000 6.078 6.078
3/22/2000 6.112 6.112
3/21/2000 6.135 6.135
3/20/2000 6.183 6.183
3/17/2000 6.194 6.194
3/16/2000 6.245 6.245
3/15/2000 6.291 6.291
3/14/2000 6.292 6.292
3/13/2000 6.37 6.37
3/10/2000 6.383 6.383
3/9/2000 6.343 6.343
3/8/2000 6.379 6.379
3/7/2000 6.373 6.373
3/6/2000 6.411 6.411
3/3/2000 6.388 6.388
3/2/2000 6.384 6.384
3/1/2000 6.386 6.386
2/29/2000 6.409 6.409
2/28/2000 6.422 6.422
2/25/2000 6.326 6.326
2/24/2000 6.365 6.365
2/23/2000 6.422 6.422
2/22/2000 6.361 6.361
2/21/2000 6.493 6.493
2/18/2000 6.489 6.489
2/17/2000 6.567 6.567
2/16/2000 6.545 6.545
2/15/2000 6.552 6.552
2/14/2000 6.554 6.554
2/11/2000 6.604 6.604
2/10/2000 6.671 6.671
2/9/2000 6.66 6.66
2/8/2000 6.613 6.613
2/7/2000 6.639 6.639
2/4/2000 6.549 6.549
2/3/2000 6.489 6.489
2/2/2000 6.573 6.573
2/1/2000 6.619 6.619
1/31/2000 6.665 6.665
1/28/2000 6.658 6.658
1/27/2000 6.692 6.692
1/26/2000 6.664 6.664
1/25/2000 6.692 6.692
1/24/2000 6.685 6.685
1/21/2000 6.765 6.765
1/20/2000 6.788 6.788
1/19/2000 6.732 6.732
1/18/2000 6.748 6.748
1/17/2000 6.681 6.681
1/14/2000 6.679 6.679
1/13/2000 6.63 6.63
1/12/2000 6.703 6.703
1/11/2000 6.657 6.657
1/10/2000 6.552 6.552
1/7/2000 6.515 6.515
1/6/2000 6.524 6.524
1/5/2000 6.594 6.594
1/4/2000 6.497 6.497
1/3/2000 6.592 6.592
12/31/1999 6.442 6.442
12/30/1999 6.366 6.366
12/29/1999 6.384 6.384
12/28/1999 6.413 6.413
12/27/1999 6.401 6.401
12/24/1999 6.408 6.408
12/23/1999 6.415 6.415
12/22/1999 6.372 6.372
12/21/1999 6.376 6.376
12/20/1999 6.354 6.354
12/17/1999 6.283 6.283
12/16/1999 6.305 6.305
12/15/1999 6.236 6.236
12/14/1999 6.216 6.216
12/13/1999 6.1 6.1
12/10/1999 6.072 6.072
12/9/1999 6.126 6.126
12/8/1999 6.135 6.135
12/7/1999 6.1 6.1
12/6/1999 6.139 6.139
12/3/1999 6.161 6.161
12/2/1999 6.233 6.233
12/1/1999 6.2 6.2
11/30/1999 6.191 6.191
11/29/1999 6.207 6.207
11/26/1999 6.117 6.117
11/25/1999 6.078 6.078
11/24/1999 6.078 6.078
11/23/1999 6.078 6.078
11/22/1999 6.085 6.085
11/19/1999 6.057 6.057
11/18/1999 6.052 6.052
11/17/1999 6.033 6.033
11/16/1999 5.958 5.958
11/15/1999 5.92 5.92
11/12/1999 5.928 5.928
11/11/1999 5.984 5.984
11/10/1999 5.977 5.977
11/9/1999 5.956 5.956
11/8/1999 5.937 5.937
11/5/1999 5.926 5.926
11/4/1999 5.958 5.958
11/3/1999 5.994 5.994
11/2/1999 6.018 6.018
11/1/1999 6.048 6.048
10/29/1999 6.024 6.024
10/28/1999 6.121 6.121
10/27/1999 6.201 6.201
10/26/1999 6.238 6.238
10/25/1999 6.205 6.205
10/22/1999 6.194 6.194
10/21/1999 6.19 6.19
10/20/1999 6.173 6.173
10/19/1999 6.179 6.179
10/18/1999 6.144 6.144
10/15/1999 6.067 6.067
10/14/1999 6.17 6.17
10/13/1999 6.108 6.108
10/12/1999 6.048 6.048
10/11/1999 6.037 6.037
10/8/1999 6.033 6.033
10/7/1999 6.039 6.039
10/6/1999 6.039 6.039
10/5/1999 6.033 6.033
10/4/1999 5.931 5.931
10/1/1999 5.974 5.974
9/30/1999 5.877 5.877
9/29/1999 5.957 5.957
9/28/1999 5.906 5.906
9/27/1999 5.82 5.82
9/24/1999 5.773 5.773
9/23/1999 5.791 5.791
9/22/1999 5.908 5.908
9/21/1999 5.925 5.925
9/20/1999 5.906 5.906
9/17/1999 5.871 5.871
9/16/1999 5.898 5.898
9/15/1999 5.919 5.919
9/14/1999 5.959 5.959
9/13/1999 5.898 5.898
9/10/1999 5.898 5.898
9/9/1999 5.964 5.964
9/8/1999 5.926 5.926
9/7/1999 5.938 5.938
9/6/1999 5.892 5.892
9/3/1999 5.888 5.888
9/2/1999 6.008 6.008
9/1/1999 5.976 5.976
8/31/1999 5.97 5.97
8/30/1999 5.955 5.955
8/27/1999 5.864 5.864
8/26/1999 5.768 5.768
8/25/1999 5.719 5.719
8/24/1999 5.816 5.816
8/23/1999 5.889 5.889
8/20/1999 5.876 5.876
8/19/1999 5.895 5.895
8/18/1999 5.875 5.875
8/17/1999 5.881 5.881
8/16/1999 5.964 5.964
8/13/1999 5.979 5.979
8/12/1999 6.082 6.082
8/11/1999 6.092 6.092
8/10/1999 6.149 6.149
8/9/1999 6.129 6.129
8/6/1999 6.038 6.038
8/5/1999 5.86 5.86
8/4/1999 5.938 5.938
8/3/1999 5.957 5.957
8/2/1999 5.916 5.916
7/30/1999 5.903 5.903
7/29/1999 5.872 5.872
7/28/1999 5.795 5.795
7/27/1999 5.807 5.807
7/26/1999 5.842 5.842
7/23/1999 5.835 5.835
7/22/1999 5.779 5.779
7/21/1999 5.656 5.656
7/20/1999 5.633 5.633
7/19/1999 5.662 5.662
7/16/1999 5.667 5.667
7/15/1999 5.724 5.724
7/14/1999 5.732 5.732
7/13/1999 5.705 5.705
7/12/1999 5.726 5.726
7/9/1999 5.826 5.826
7/8/1999 5.826 5.826
7/7/1999 5.892 5.892
7/6/1999 5.868 5.868
7/5/1999 5.819 5.819
7/2/1999 5.828 5.828
7/1/1999 5.84 5.84
6/30/1999 5.78 5.78
6/29/1999 5.926 5.926
6/28/1999 5.943 5.943
6/25/1999 6.014 6.014
6/24/1999 6.029 6.029
6/23/1999 6.029 6.029
6/22/1999 5.923 5.923
6/21/1999 5.885 5.885
6/18/1999 5.827 5.827
6/17/1999 5.788 5.788
6/16/1999 5.925 5.925
6/15/1999 5.977 5.977
6/14/1999 5.966 5.966
6/11/1999 6.033 6.033
6/10/1999 5.931 5.931
6/9/1999 5.888 5.888
6/8/1999 5.824 5.824
6/7/1999 5.792 5.792
6/4/1999 5.807 5.807
6/3/1999 5.803 5.803
6/2/1999 5.781 5.781
6/1/1999 5.758 5.758
5/31/1999 5.622 5.622
5/28/1999 5.62 5.62
5/27/1999 5.626 5.626
5/26/1999 5.551 5.551
5/25/1999 5.473 5.473
5/24/1999 5.479 5.479
5/21/1999 5.504 5.504
5/20/1999 5.591 5.591
5/19/1999 5.595 5.595
5/18/1999 5.661 5.661
5/17/1999 5.636 5.636
5/14/1999 5.628 5.628
5/13/1999 5.412 5.412
5/12/1999 5.57 5.57
5/11/1999 5.578 5.578
5/10/1999 5.534 5.534
5/7/1999 5.542 5.542
5/6/1999 5.511 5.511
5/5/1999 5.394 5.394
5/4/1999 5.405 5.405
5/3/1999 5.359 5.359
4/30/1999 5.348 5.348
4/29/1999 5.216 5.216
4/28/1999 5.263 5.263
4/27/1999 5.205 5.205
4/26/1999 5.222 5.222
4/23/1999 5.252 5.252
4/22/1999 5.247 5.247
4/21/1999 5.181 5.181
4/20/1999 5.136 5.136
4/19/1999 5.149 5.149
4/16/1999 5.221 5.221
4/15/1999 5.169 5.169
4/14/1999 5.127 5.127
4/13/1999 5.103 5.103
4/12/1999 5.051 5.051
4/9/1999 5.053 5.053
4/8/1999 5.036 5.036
4/7/1999 5.122 5.122
4/6/1999 5.124 5.124
4/5/1999 5.19 5.19
4/2/1999 5.187 5.187
4/1/1999 5.279 5.279
3/31/1999 5.242 5.242
3/30/1999 5.191 5.191
3/29/1999 5.259 5.259
3/26/1999 5.199 5.199
3/25/1999 5.214 5.214
3/24/1999 5.156 5.156
3/23/1999 5.156 5.156
3/22/1999 5.199 5.199
3/19/1999 5.184 5.184
3/18/1999 5.103 5.103
3/17/1999 5.122 5.122
3/16/1999 5.107 5.107
3/15/1999 5.147 5.147
3/12/1999 5.147 5.147
3/11/1999 5.2 5.2
3/10/1999 5.191 5.191
3/9/1999 5.172 5.172
3/8/1999 5.263 5.263
3/5/1999 5.314 5.314
3/4/1999 5.419 5.419
3/3/1999 5.384 5.384
3/2/1999 5.32 5.32
3/1/1999 5.39 5.39
2/26/1999 5.287 5.287
2/25/1999 5.349 5.349
2/24/1999 5.175 5.175
2/23/1999 5.11 5.11
2/22/1999 5.014 5.014
2/19/1999 5.074 5.074
2/18/1999 5.053 5.053
2/17/1999 4.97 4.97
2/16/1999 5.013 5.013
2/15/1999 5.059 5.059
2/12/1999 5.053 5.053
2/11/1999 4.92 4.92
2/10/1999 4.93 4.93
2/9/1999 4.881 4.881
2/8/1999 4.92 4.92
2/5/1999 4.941 4.941
2/4/1999 4.877 4.877
2/3/1999 4.826 4.826
2/2/1999 4.798 4.798
2/1/1999 4.753 4.753
1/29/1999 4.651 4.651
1/28/1999 4.659 4.659
1/27/1999 4.673 4.673
1/26/1999 4.693 4.693
1/25/1999 4.661 4.661
1/22/1999 4.623 4.623
1/21/1999 4.679 4.679
1/20/1999 4.747 4.747
1/19/1999 4.713 4.713
1/18/1999 4.673 4.673
1/15/1999 4.685 4.685
1/14/1999 4.61 4.61
1/13/1999 4.705 4.705
1/12/1999 4.816 4.816
1/11/1999 4.925 4.925
1/8/1999 4.87 4.87
1/7/1999 4.771 4.771
1/6/1999 4.707 4.707
1/5/1999 4.743 4.743
1/4/1999 4.675 4.675
1/1/1999 4.654 4.654
12/31/1998 4.648 4.648
12/30/1998 4.642 4.642
12/29/1998 4.678 4.678
12/28/1998 4.753 4.753
12/25/1998 4.848 4.848
12/24/1998 4.85 4.85
12/23/1998 4.797 4.797
12/22/1998 4.7 4.7
12/21/1998 4.638 4.638
12/18/1998 4.562 4.562
12/17/1998 4.577 4.577
12/16/1998 4.54 4.54
12/15/1998 4.621 4.621
12/14/1998 4.572 4.572
12/11/1998 4.615 4.615
12/10/1998 4.523 4.523
12/9/1998 4.568 4.568
12/8/1998 4.593 4.593
12/7/1998 4.664 4.664
12/4/1998 4.627 4.627
12/3/1998 4.539 4.539
12/2/1998 4.59 4.59
12/1/1998 4.649 4.649
11/30/1998 4.714 4.714
11/27/1998 4.808 4.808
11/26/1998 4.83 4.83
11/25/1998 4.832 4.832
11/24/1998 4.832 4.832
11/23/1998 4.854 4.854
11/20/1998 4.814 4.814
11/19/1998 4.848 4.848
11/18/1998 4.844 4.844
11/17/1998 4.872 4.872
11/16/1998 4.864 4.864
11/13/1998 4.81 4.81
11/12/1998 4.78 4.78
11/11/1998 4.824 4.824
11/10/1998 4.826 4.826
11/9/1998 4.86 4.86
11/6/1998 4.94 4.94
11/5/1998 4.848 4.848
11/4/1998 4.885 4.885
11/3/1998 4.736 4.736
11/2/1998 4.764 4.764
10/30/1998 4.605 4.605
10/29/1998 4.499 4.499
10/28/1998 4.557 4.557
10/27/1998 4.604 4.604
10/26/1998 4.671 4.671
10/23/1998 4.703 4.703
10/22/1998 4.615 4.615
10/21/1998 4.571 4.571
10/20/1998 4.575 4.575
10/19/1998 4.471 4.471
10/16/1998 4.444 4.444
10/15/1998 4.399 4.399
10/14/1998 4.609 4.609
10/13/1998 4.722 4.722
10/12/1998 4.78 4.78
10/9/1998 4.784 4.784
10/8/1998 4.56 4.56
10/7/1998 4.401 4.401
10/6/1998 4.197 4.197
10/5/1998 4.162 4.162
10/2/1998 4.28 4.28
10/1/1998 4.298 4.298
9/30/1998 4.42 4.42
9/29/1998 4.566 4.566
9/28/1998 4.589 4.589
9/25/1998 4.56 4.56
9/24/1998 4.63 4.63
9/23/1998 4.668 4.668
9/22/1998 4.709 4.709
9/21/1998 4.674 4.674
9/18/1998 4.695 4.695
9/17/1998 4.776 4.776
9/16/1998 4.871 4.871
9/15/1998 4.887 4.887
9/14/1998 4.857 4.857
9/11/1998 4.83 4.83
9/10/1998 4.781 4.781
9/9/1998 4.921 4.921
9/8/1998 5.061 5.061
9/7/1998 5.011 5.011
9/4/1998 5.013 5.013
9/3/1998 5.028 5.028
9/2/1998 5.068 5.068
9/1/1998 5.062 5.062
8/31/1998 4.976 4.976
8/28/1998 5.062 5.062
8/27/1998 5.073 5.073
8/26/1998 5.198 5.198
8/25/1998 5.232 5.232
8/24/1998 5.288 5.288
8/21/1998 5.288 5.288
8/20/1998 5.376 5.376
8/19/1998 5.407 5.407
8/18/1998 5.407 5.407
8/17/1998 5.388 5.388
8/14/1998 5.389 5.389
8/13/1998 5.438 5.438
8/12/1998 5.381 5.381
8/11/1998 5.378 5.378
8/10/1998 5.405 5.405
8/7/1998 5.399 5.399
8/6/1998 5.441 5.441
8/5/1998 5.441 5.441
8/4/1998 5.41 5.41
8/3/1998 5.449 5.449
7/31/1998 5.494 5.494
7/30/1998 5.499 5.499
7/29/1998 5.522 5.522
7/28/1998 5.491 5.491
7/27/1998 5.47 5.47
7/24/1998 5.458 5.458
7/23/1998 5.433 5.433
7/22/1998 5.456 5.456
7/21/1998 5.433 5.433
7/20/1998 5.47 5.47
7/17/1998 5.507 5.507
7/16/1998 5.497 5.497
7/15/1998 5.479 5.479
7/14/1998 5.485 5.485
7/13/1998 5.47 5.47
7/10/1998 5.411 5.411
7/9/1998 5.403 5.403
7/8/1998 5.43 5.43
7/7/1998 5.417 5.417
7/6/1998 5.389 5.389
7/3/1998 5.409 5.409
7/2/1998 5.409 5.409
7/1/1998 5.432 5.432
6/30/1998 5.446 5.446
6/29/1998 5.459 5.459
6/26/1998 5.448 5.448
6/25/1998 5.465 5.465
6/24/1998 5.465 5.465
6/23/1998 5.451 5.451
6/22/1998 5.467 5.467
6/19/1998 5.461 5.461
6/18/1998 5.5 5.5
6/17/1998 5.544 5.544
6/16/1998 5.443 5.443
6/15/1998 5.349 5.349
6/12/1998 5.427 5.427
6/11/1998 5.443 5.443
6/10/1998 5.509 5.509
6/9/1998 5.585 5.585
6/8/1998 5.569 5.569
6/5/1998 5.575 5.575
6/4/1998 5.587 5.587
6/3/1998 5.548 5.548
6/2/1998 5.55 5.55
6/1/1998 5.528 5.528
5/29/1998 5.552 5.552
5/28/1998 5.569 5.569
5/27/1998 5.577 5.577
5/26/1998 5.569 5.569
5/25/1998 5.637 5.637
5/22/1998 5.635 5.635
5/21/1998 5.65 5.65
5/20/1998 5.61 5.61
5/19/1998 5.652 5.652
5/18/1998 5.644 5.644
5/15/1998 5.683 5.683
5/14/1998 5.683 5.683
5/13/1998 5.667 5.667
5/12/1998 5.71 5.71
5/11/1998 5.767 5.767
5/8/1998 5.706 5.706
5/7/1998 5.678 5.678
5/6/1998 5.648 5.648
5/5/1998 5.712 5.712
5/4/1998 5.659 5.659
5/1/1998 5.656 5.656
4/30/1998 5.671 5.671
4/29/1998 5.812 5.812
4/28/1998 5.803 5.803
4/27/1998 5.784 5.784
4/24/1998 5.66 5.66
4/23/1998 5.696 5.696
4/22/1998 5.671 5.671
4/21/1998 5.671 5.671
4/20/1998 5.641 5.641
4/17/1998 5.587 5.587
4/16/1998 5.58 5.58
4/15/1998 5.593 5.593
4/14/1998 5.61 5.61
4/13/1998 5.648 5.648
4/10/1998 5.582 5.582
4/9/1998 5.58 5.58
4/8/1998 5.574 5.574
4/7/1998 5.53 5.53
4/6/1998 5.507 5.507
4/3/1998 5.48 5.48
4/2/1998 5.543 5.543
4/1/1998 5.587 5.587
3/31/1998 5.654 5.654
3/30/1998 5.706 5.706
3/27/1998 5.683 5.683
3/26/1998 5.689 5.689
3/25/1998 5.641 5.641
3/24/1998 5.57 5.57
3/23/1998 5.57 5.57
3/20/1998 5.564 5.564
3/19/1998 5.576 5.576
3/18/1998 5.572 5.572
3/17/1998 5.557 5.557
3/16/1998 5.539 5.539
3/13/1998 5.58 5.58
3/12/1998 5.559 5.559
3/11/1998 5.63 5.63
3/10/1998 5.653 5.653
3/9/1998 5.655 5.655
3/6/1998 5.714 5.714
3/5/1998 5.775 5.775
3/4/1998 5.72 5.72
3/3/1998 5.775 5.775
3/2/1998 5.697 5.697
2/27/1998 5.622 5.622
2/26/1998 5.655 5.655
2/25/1998 5.614 5.614
2/24/1998 5.664 5.664
2/23/1998 5.578 5.578
2/20/1998 5.543 5.543
2/19/1998 5.51 5.51
2/18/1998 5.486 5.486
2/17/1998 5.438 5.438
2/16/1998 5.482 5.482
2/13/1998 5.484 5.484
2/12/1998 5.514 5.514
2/11/1998 5.571 5.571
2/10/1998 5.628 5.628
2/9/1998 5.644 5.644
2/6/1998 5.617 5.617
2/5/1998 5.634 5.634
2/4/1998 5.551 5.551
2/3/1998 5.555 5.555
2/2/1998 5.574 5.574
1/30/1998 5.505 5.505
1/29/1998 5.566 5.566
1/28/1998 5.691 5.691
1/27/1998 5.687 5.687
1/26/1998 5.625 5.625
1/23/1998 5.687 5.687
1/22/1998 5.567 5.567
1/21/1998 5.538 5.538
1/20/1998 5.577 5.577
1/19/1998 5.527 5.527
1/16/1998 5.532 5.532
1/15/1998 5.458 5.458
1/14/1998 5.452 5.452
1/13/1998 5.435 5.435
1/12/1998 5.364 5.364
Fuente Bloomberg
USGG10YR Index
Fuente diferente a Bloomberg
https://datosmacro.expansion.com/bono/usa
https://datosmacro.expansion.com/bono/usa?dr=2023-01
PRIMER MÉTODO:
REGRESIÓN S&P Y UNACEM
Valuation date 12/31/2018

Regression range ( type: "- months") -60
Start 12/31/2013
Returns m
Ticker Effective Tax rate

UNACEMC1 PE Equity 35.57
Datos de Bloomberg
2DO MÉTODO:
BETA DEL SECTOR DE MATERIALES DE CONTRUCCIÓN DE MERCADOS EMERGENTES
Date updated: 5-Jan-19
Created by: Aswath Damodaran, [email protected]
What is this data? Beta, Unlevered beta and other risk measures
Home Page: http://www.damodaran.com
Data website: http://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
Companies in each industry: http://www.stern.nyu.edu/~adamodar/pc/datasets/indname.xls
Variable definitions: http://www.stern.nyu.edu/~adamodar/New_Home_Page/datafile/variable.htm
Induistry Name Number of firms

Construction Supplies 518
3ER MÉTODO:
MÉTODO COMPARABLES
Ticker
1 UNACEMC1 PE Equity
5 CMOCTEZ* MM Equity
7 CPACASI1 PE Equity
8 CCC JA Equity
9 HARG AR Equity
10 GISSAA MM Equity
11 CEMEXCPO MM Equity
12 GRUPOARG CB Equity
13 CEMARGOS CB Equity
14 POLPA CI Equity
3 CEMENT CI Equity
6 GCC* MM Equity
2 CLH CB Equity
4 MELON CI Equity
15 HLE ED Equity
16 CONCESI1 PE Equity
17 TCL TP Equity
18 ETER3 BZ Equity
19 CLF ED Equity
20 SBC1U VB Equity
21 CNC UY Equity
22 IGP ED Equity
23 INCCA CR Equity
24 MANCEM CB Equity
25 FNC VC Equity
Total Debt to Total Capital Levered Unlevered
Beta Beta
50.16 1.18 0.89
RCADOS EMERGENTES
[email protected]
other risk measures Emerging Markets
amodar/New_Home_Page/data.html
amodar/pc/datasets/indname.xls
amodar/New_Home_Page/datafile/variable.htm
Beta D/E Ratio Effective Tax rate Unlevered beta

1.14 56.57% 15.27% 0.81
D/E 71.76%
tax rate 25.17%
Levered
Beta para 1.24
UNACEM
Cap mercado Ingresos 2018
Name País
(dólares) (miles dólares)
UNION ANDINA DE CEMENTOS SAA PERÚ 1.27B 584,271.22

CORP MOCTEZUMA-SER * MEXICO 52.73B 738,336.33
CEMENTOS PACASMAYO SAA-INV PERÚ 2.54B 374,555.19
CARIBBEAN CEMENT CO LTD JAMAICA 59.58B 136,510.00
HOLCIM ARGENTINA SA ARGENTINA 29.96B 490,174.40
GRUPO INDUSTRIAL SALTILLO MEXICO 7.75B 915,360.89
CEMEX SAB-CPO MEXICO 125.88B 14,411,151.04
GRUPO ARGOS SA COLOMBIA 14.00T 4,851,412.64
CEMENTOS ARGOS SA COLOMBIA 9.91T 2,852,957.48
CEMENTO POLPAICO S.A. CHILE 143.71B 260,132.96

CEMENTOS BIO BIO S.A. CHILE 243.35B 410,107.97
GRUPO CEMENTOS CHIHUAHUA MEXICO 35.37B 851,032.03
CEMEX LATAM HOLDINGS SA COLOMBIA 2.50T 1,108,329.00
MELON SA CHILE 153.70B 298,866.06
HOLCIM ECUADOR SA ECUADOR 1.21B
CONSORCIO CEMENTERO SUR-INV PERU 1.26B
TRINIDAD CEMENT LTD TRINIDAD Y TOBA 1.03B
ETERNIT SA BRASIL 60.26M
UNACEM ECUADOR SA ECUADOR sin dato
SOCIEDAD BOLIVIANA DE CEMENT BOLIVIA sin dato
CIA NACIONAL DE CEMENTOS SA URUGUAY sin dato
INDUSTRIAS GUAPAN SA ECUADOR sin dato
HOLCIM COSTA RICA SA COSTA RICA 127.37B sin datos
MANUFACTURAS DE CEMENTO SA COLOMBIA 40.56B sin datos
FABRICA NACIONAL DE CEMENTOS VENEZUELA 486.49B sin datos
0.90
FUENTA DAMODARAN (SIN BLOOMBERG)

FORMULA DE HAMADA
https://pages.stern.nyu.edu/~adamodar/New
1er critério 2do criterio 3er criterio
+/- 2 +/- 10 Min 80%
% Cemento como D/E Levered

EV / EBITDA P/E Beta
línea de negocio
8.82 17.69 91% 76.00

8.49 13.52 85% 0.25 0.64
8.54 27.78 90% 42.74 0.86
8.80 14.48 99% 64.00 2.08
9.95 13.39 89% 8.72 0.91
6.70 15.18 20% 37.93
8.63 14.28 51% 48.62
9.45 21.58 59% 39.21
11.31 44.89 100% 44.54
resultado
54.11 negativo 100% 24.79
8.33 12.15 68% 34.27 0.55
8.36 16.24 65% 39.73 0.87
2.47 8.76 100% 0.47 1.00
6.64 18.52 97% 15.08 0.32
MODARAN (SIN BLOOMBERG)
s.stern.nyu.edu/~adamodar/New_Home_Page/dataarchived.html
Effective Tax rate Unlevered
Beta
28.84 0.63
35.30 0.68
25.15 1.41
34.31 0.86
Promedio 0.8953
D/E 71.76%
tax rate 25.17%
Levered Beta para UNACEM 1.38
10.68 0.42
13.71 0.65
33.54 0.99
16.04 0.28
prima por riesgo
Date updated: 31-Dec-14

Created by: Aswath Damodaran, [email protected]
What is this data Historical returns: Stocks, T.Bonds & T.Bills with premiums
Home Page: http://www.damodaran.com
Data website: http://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
Companies in each http://www.stern.nyu.edu/~adamodar/pc/datasets/indname.xls
Variable definitio http://www.stern.nyu.edu/~adamodar/New_Home_Page/datafile/variable.htm
Annual Returns on Investments in Compounded Value of $ 100
S&P 500 (includes 3-month Return on 10-

Year dividends) T.Bill year T. Bond Stocks
1928 43.81% 3.08% 0.84% $ 143.81
1929 -8.30% 3.16% 4.20% $ 131.88
1930 -25.12% 4.55% 4.54% $ 98.75
1931 -43.84% 2.31% -2.56% $ 55.46
1932 -8.64% 1.07% 8.79% $ 50.66
1933 49.98% 0.96% 1.86% $ 75.99
1934 -1.19% 0.32% 7.96% $ 75.09
1935 46.74% 0.18% 4.47% $ 110.18
1936 31.94% 0.17% 5.02% $ 145.38
1937 -35.34% 0.30% 1.38% $ 94.00
1938 29.28% 0.08% 4.21% $ 121.53
1939 -1.10% 0.04% 4.41% $ 120.20
1940 -10.67% 0.03% 5.40% $ 107.37
1941 -12.77% 0.08% -2.02% $ 93.66
1942 19.17% 0.34% 2.29% $ 111.61
1943 25.06% 0.38% 2.49% $ 139.59
1944 19.03% 0.38% 2.58% $ 166.15
1945 35.82% 0.38% 3.80% $ 225.67
1946 -8.43% 0.38% 3.13% $ 206.65
1947 5.20% 0.57% 0.92% $ 217.39
1948 5.70% 1.02% 1.95% $ 229.79
1949 18.30% 1.10% 4.66% $ 271.85
1950 30.81% 1.17% 0.43% $ 355.60
1951 23.68% 1.48% -0.30% $ 439.80
1952 18.15% 1.67% 2.27% $ 519.62
1953 -1.21% 1.89% 4.14% $ 513.35
1954 52.56% 0.96% 3.29% $ 783.18
1955 32.60% 1.66% -1.34% $ 1,038.47
1956 7.44% 2.56% -2.26% $ 1,115.73
1957 -10.46% 3.23% 6.80% $ 999.05
Page 300
prima por riesgo
1958 43.72% 1.78% -2.10% $ 1,435.84

1959 12.06% 3.25% -2.65% $ 1,608.95
1960 0.34% 3.05% 11.64% $ 1,614.37
1961 26.64% 2.27% 2.06% $ 2,044.40
1962 -8.81% 2.78% 5.69% $ 1,864.26
1963 22.61% 3.11% 1.68% $ 2,285.80
1964 16.42% 3.51% 3.73% $ 2,661.02
1965 12.40% 3.90% 0.72% $ 2,990.97
1966 -9.97% 4.84% 2.91% $ 2,692.74
1967 23.80% 4.33% -1.58% $ 3,333.69
1968 10.81% 5.26% 3.27% $ 3,694.23
1969 -8.24% 6.56% -5.01% $ 3,389.77
1970 3.56% 6.69% 16.75% $ 3,510.49
1971 14.22% 4.54% 9.79% $ 4,009.72
1972 18.76% 3.95% 2.82% $ 4,761.76
1973 -14.31% 6.72% 3.66% $ 4,080.44
1974 -25.90% 7.78% 1.99% $ 3,023.54
1975 37.00% 5.99% 3.61% $ 4,142.10
1976 23.83% 4.97% 15.98% $ 5,129.20
1977 -6.98% 5.13% 1.29% $ 4,771.20
1978 6.51% 6.93% -0.78% $ 5,081.77
1979 18.52% 9.94% 0.67% $ 6,022.89
1980 31.74% 11.22% -2.99% $ 7,934.26
1981 -4.70% 14.30% 8.20% $ 7,561.16
1982 20.42% 11.01% 32.81% $ 9,105.08
1983 22.34% 8.45% 3.20% $ 11,138.90
1984 6.15% 9.61% 13.73% $ 11,823.51
1985 31.24% 7.49% 25.71% $ 15,516.60
1986 18.49% 6.04% 24.28% $ 18,386.33
1987 5.81% 5.72% -4.96% $ 19,455.08
1988 16.54% 6.45% 8.22% $ 22,672.40
1989 31.48% 8.11% 17.69% $ 29,808.58
1990 -3.06% 7.55% 6.24% $ 28,895.11
1991 30.23% 5.61% 15.00% $ 37,631.51
1992 7.49% 3.41% 9.36% $ 40,451.51
1993 9.97% 2.98% 14.21% $ 44,483.33
1994 1.33% 3.99% -8.04% $ 45,073.14
1995 37.20% 5.52% 23.48% $ 61,838.19
1996 22.68% 5.02% 1.43% $ 75,863.69
1997 33.10% 5.05% 9.94% $ 100,977.34
1998 28.34% 4.73% 14.92% $ 129,592.25
1999 20.89% 4.51% -8.25% $ 156,658.05
2000 -9.03% 5.76% 16.66% $ 142,508.98
Page 301
prima por riesgo
2001 -11.85% 3.67% 5.57% $ 125,622.01

2002 -21.97% 1.66% 15.12% $ 98,027.82
2003 28.36% 1.03% 0.38% $ 125,824.39
2004 10.74% 1.23% 4.49% $ 139,341.42
2005 4.83% 3.01% 2.87% $ 146,077.85
2006 15.61% 4.68% 1.96% $ 168,884.34
2007 5.48% 4.64% 10.21% $ 178,147.20
2008 -36.55% 1.59% 20.10% $ 113,030.22
2009 25.94% 0.14% -11.12% $ 142,344.87
2010 14.82% 0.13% 8.46% $ 163,441.94
2011 2.10% 0.03% 16.04% $ 166,871.56
2012 15.89% 0.05% 2.97% $ 193,388.43
2013 32.15% 0.07% -9.10% $ 255,553.31
2014 13.52% 0.05% 10.75% $ 290,115.42
2015 1.38% 0.21% 1.28% $ 294,115.79
2016 11.77% 0.51% 0.69% $ 328,742.28
2017 21.61% 1.39% 2.80% $ 399,768.64
2018 -4.23% 2.37% -0.02% $ 382,850.00
Arithmetic Average
1928-2018 11.36% 3.43% 5.10%
1969-2018 11.10% 4.76% 7.10%
2009-2018 13.49% 0.49% 2.28%
Geometric Average
1928-2018 9.49% 3.38% 4.83%
1969-2018 9.73% 4.71% 6.69%
2009-2018 12.98% 0.49% 1.97%
Page 302
prima por riesgo
US companies Fuente
https://pages.stern.nyu.edu/~adamodar/New_Home_Page/d
data.html
me.xls
datafile/variable.htm
Compounded Value of $ 100
Historical risk
T.Bills T.Bonds Stocks - Bills Stocks - Bonds premium
$ 103.08 $ 100.84 40.73% 42.98%
$ 106.34 $ 105.07 -11.46% -12.50%
$ 111.18 $ 109.85 -29.67% -29.66%
$ 113.74 $ 107.03 -46.15% -41.28%
$ 114.96 $ 116.44 -9.71% -17.43%
$ 116.06 $ 118.60 49.02% 48.13%
$ 116.44 $ 128.05 -1.51% -9.15%
$ 116.64 $ 133.78 46.57% 42.27%
$ 116.84 $ 140.49 31.77% 26.93%
$ 117.19 $ 142.43 -35.64% -36.72%
$ 117.29 $ 148.43 29.21% 25.07%
$ 117.33 $ 154.98 -1.14% -5.51%
$ 117.36 $ 163.35 -10.70% -16.08%
$ 117.46 $ 160.04 -12.85% -10.75%
$ 117.85 $ 163.72 18.84% 16.88%
$ 118.30 $ 167.79 24.68% 22.57%
$ 118.75 $ 172.12 18.65% 16.45%
$ 119.20 $ 178.67 35.44% 32.02%
$ 119.65 $ 184.26 -8.81% -11.56%
$ 120.33 $ 185.95 4.63% 4.28%
$ 121.56 $ 189.58 4.68% 3.75%
$ 122.90 $ 198.42 17.20% 13.64%
$ 124.34 $ 199.27 29.63% 30.38%
$ 126.18 $ 198.68 22.20% 23.97%
$ 128.29 $ 203.19 16.48% 15.88%
$ 130.72 $ 211.61 -3.10% -5.35%
$ 131.98 $ 218.57 51.60% 49.27%
$ 134.17 $ 215.65 30.94% 33.93%
$ 137.60 $ 210.79 4.88% 9.70%
$ 142.04 $ 225.11 -13.69% -17.25%
Page 303
prima por riesgo
$ 144.57 $ 220.39 41.94% 45.82%

$ 149.27 $ 214.56 8.80% 14.70%
$ 153.82 $ 239.53 -2.71% -11.30% 6.11%
$ 157.30 $ 244.46 24.37% 24.58% 6.62%
$ 161.67 $ 258.38 -11.59% -14.51% 5.97%
$ 166.70 $ 262.74 19.50% 20.93% 6.36%
$ 172.54 $ 272.53 12.91% 12.69% 6.53%
$ 179.28 $ 274.49 8.50% 11.68% 6.66%
$ 187.95 $ 282.47 -14.81% -12.88% 6.11%
$ 196.10 $ 278.01 19.47% 25.38% 6.57%
$ 206.41 $ 287.11 5.55% 7.54% 6.60%
$ 219.96 $ 272.71 -14.80% -3.23% 6.33%
$ 234.66 $ 318.41 -3.12% -13.19% 5.90%
$ 245.32 $ 349.57 9.68% 4.43% 5.87%
$ 255.01 $ 359.42 14.80% 15.94% 6.08%
$ 272.16 $ 372.57 -21.03% -17.97% 5.50%
$ 293.33 $ 379.98 -33.68% -27.89% 4.64%
$ 310.90 $ 393.68 31.01% 33.39% 5.17%
$ 326.35 $ 456.61 18.86% 7.85% 5.22%
$ 343.09 $ 462.50 -12.11% -8.27% 4.93%
$ 366.87 $ 458.90 -0.42% 7.29% 4.97%
$ 403.33 $ 461.98 8.58% 17.85% 5.21%
$ 448.58 $ 448.17 20.52% 34.72% 5.73%
$ 512.73 $ 484.91 -19.00% -12.90% 5.37%
$ 569.18 $ 644.04 9.41% -12.40% 5.10%
$ 617.26 $ 664.65 13.89% 19.14% 5.34%
$ 676.60 $ 755.92 -3.47% -7.59% 5.12%
$ 727.26 $ 950.29 23.75% 5.52% 5.13%
$ 771.15 $ 1,181.06 12.46% -5.79% 4.97%
$ 815.27 $ 1,122.47 0.09% 10.77% 5.07%
$ 867.86 $ 1,214.78 10.09% 8.31% 5.12%
$ 938.24 $ 1,429.72 23.37% 13.78% 5.24%
$ 1,009.08 $ 1,518.87 -10.61% -9.30% 5.00%
$ 1,065.69 $ 1,746.77 24.62% 15.23% 5.14%
$ 1,101.98 $ 1,910.30 4.09% -1.87% 5.03%
$ 1,134.84 $ 2,181.77 6.98% -4.24% 4.90%
$ 1,180.07 $ 2,006.43 -2.66% 9.36% 4.97%
$ 1,245.15 $ 2,477.55 31.68% 13.71% 5.08%
$ 1,307.68 $ 2,512.94 17.66% 21.25% 5.30%
$ 1,373.76 $ 2,762.71 28.05% 23.16% 5.53%
$ 1,438.70 $ 3,174.95 23.61% 13.42% 5.63%
$ 1,503.58 $ 2,912.88 16.38% 29.14% 5.96%
$ 1,590.23 $ 3,398.03 -14.79% -25.69% 5.51%
Page 304
prima por riesgo
$ 1,648.63 $ 3,587.37 -15.52% -17.42% 5.17%

$ 1,675.96 $ 4,129.65 -23.62% -37.08% 4.53%
$ 1,693.22 $ 4,145.15 27.33% 27.98% 4.82%
$ 1,714.00 $ 4,331.30 9.52% 6.25% 4.84%
$ 1,765.59 $ 4,455.50 1.82% 1.97% 4.80%
$ 1,848.18 $ 4,542.87 10.94% 13.65% 4.91%
$ 1,933.98 $ 5,006.69 0.84% -4.73% 4.79%
$ 1,964.64 $ 6,013.10 -38.14% -56.65% 3.88%
$ 1,967.29 $ 5,344.65 25.80% 37.05% 4.29%
$ 1,969.84 $ 5,796.96 14.69% 6.36% 4.31%
$ 1,970.44 $ 6,726.52 2.07% -13.94% 4.10%
$ 1,971.42 $ 6,926.40 15.84% 12.92% 4.20%
$ 1,972.72 $ 6,295.79 32.08% 41.25% 4.62%
$ 1,973.77 $ 6,972.34 13.47% 2.78% 4.60%
$ 1,977.91 $ 7,061.89 1.17% 0.09% 4.54%
$ 1,988.00 $ 7,110.65 11.26% 11.08% 4.62%
$ 2,015.63 $ 7,309.87 20.22% 18.80% 4.77%
$ 2,063.40 $ 7,308.65 -6.60% -4.22% 4.66%
Risk Premium Standard Error
Stocks - T.Bills Stocks - T.Bonds Stocks - T.Bills Stocks - T.Bonds
7.93% 6.26% 2.09% 2.22%
6.34% 4.00% 2.38% 2.71%
13.00% 11.22% 3.71% 5.50%
Risk Premium
Stocks - T.Bills Stocks - T.Bonds
6.11% 4.66%
5.01% 3.04%
12.48% 11.00%
Page 305
prima por riesgo
damodar/New_Home_Page/datafile/histretSP.html
Real Returns on Investments in
S&P 500
Inflation (includes 3-month T. !0-year
Rate dividends)2 Bill (Real) T.Bonds
43.81% 3.08% 0.84%
-8.30% 3.16% 4.20%
-25.12% 4.55% 4.54%
-43.84% 2.31% -2.56%
-8.64% 1.07% 8.79%
49.98% 0.96% 1.86%
-1.19% 0.32% 7.96%
46.74% 0.17% 4.47%
31.94% 0.17% 5.02%
-35.34% 0.30% 1.38%
29.28% 0.08% 4.21%
-1.10% 0.04% 4.41%
-10.67% 0.03% 5.40%
-12.77% 0.08% -2.02%
19.17% 0.34% 2.29%
25.06% 0.38% 2.49%
19.03% 0.38% 2.58%
35.82% 0.38% 3.80%
-8.43% 0.38% 3.13%
5.20% 0.57% 0.92%
5.70% 1.02% 1.95%
18.30% 1.10% 4.66%
30.81% 1.17% 0.43%
23.68% 1.48% -0.30%
18.15% 1.67% 2.27%
-1.21% 1.89% 4.14%
52.56% 0.96% 3.29%
32.60% 1.66% -1.34%
7.44% 2.55% -2.26%
-10.46% 3.23% 6.80%
Page 306
prima por riesgo
43.72% 1.78% -2.10%

12.06% 3.26% -2.65%
0.34% 3.05% 11.64%
26.64% 2.27% 2.06%
-8.81% 2.78% 5.69%
22.61% 3.11% 1.68%
16.42% 3.51% 3.73%
12.40% 3.90% 0.72%
-9.97% 4.84% 2.91%
23.80% 4.33% -1.58%
10.81% 5.26% 3.27%
-8.24% 6.56% -5.01%
3.56% 6.69% 16.75%
14.22% 4.54% 9.79%
18.76% 3.95% 2.82%
-14.31% 6.73% 3.66%
-25.90% 7.78% 1.99%
37.00% 5.99% 3.61%
23.83% 4.97% 15.98%
-6.98% 5.13% 1.29%
6.51% 6.93% -0.78%
18.52% 9.94% 0.67%
31.74% 11.22% -2.99%
-4.70% 14.30% 8.20%
20.42% 11.01% 32.81%
22.34% 8.45% 3.20%
6.15% 9.61% 13.73%
31.24% 7.49% 25.71%
18.49% 6.03% 24.28%
5.81% 5.72% -4.96%
16.54% 6.45% 8.22%
31.48% 8.11% 17.69%
-3.06% 7.55% 6.24%
30.23% 5.61% 15.00%
7.49% 3.40% 9.36%
9.97% 2.98% 14.21%
1.33% 3.98% -8.04%
37.20% 5.52% 23.48%
22.68% 5.02% 1.43%
33.10% 5.05% 9.94%
28.34% 4.73% 14.92%
20.89% 4.51% -8.25%
-9.03% 5.76% 16.66%
Page 307
prima por riesgo
-11.85% 3.67% 5.57%

-21.97% 1.66% 15.12%
28.36% 1.03% 0.38%
10.74% 1.23% 4.49%
4.83% 3.01% 2.87%
15.61% 4.68% 1.96%
5.48% 4.64% 10.21%
-36.55% 1.58% 20.10%
25.94% 0.13% -11.12%
14.82% 0.13% 8.46%
2.10% 0.03% 16.04%
15.89% 0.05% 2.97%
32.15% 0.07% -9.10%
13.52% 0.05% 10.75%
1.38% 0.21% 1.28%
11.77% 0.51% 0.69%
21.61% 1.39% 2.80%
-4.23% 2.37% -0.02%
Se tomará la diferencia de rendimientos de los

dividendos del S&P 500 y los Bonos del tesoro
Americano
Page 308
SPREAD - EMBIG PERÚ (PBS)
https://estadisticas.bcrp.gob.pe/estadisticas/series/diarias/resultados/PD04709XD/html/2018-12-01/2018-12-31/
Fuente
Tasas de interés: EMBIG (variación en pbs) - Spread - EMBIG
Fecha
Perú (pbs) https://estadisticas.bcrp.gob.pe/estadisticas/series/diarias/resultados/PD04709XD/html
3-Dec-18 162 1.62%
4-Dec-18 170 1.70%
El riesgo país se mide con el EMBIG, calculado por JP Morgan, y es el diferencial entre la tasa de
5-Dec-18 n.d. rendimiento de los bonos de los países emergentes y la tasa del Bono del Tesoro Estadounidense.
6-Dec-18 172 1.72% Diferencial de Rendimientos del Índice de Bonos de Mercados Emergentes (EMBIG)
7-Dec-18 169 1.69%
10-Dec-18 168 1.68%
11-Dec-18 163 1.63%
12-Dec-18 157 1.57%
13-Dec-18 155 1.55%
14-Dec-18 155 1.55%
17-Dec-18 156 1.56%
18-Dec-18 159 1.59%
19-Dec-18 165 1.65%
20-Dec-18 162 1.62%
21-Dec-18 161 1.61%
24-Dec-18 166 1.66%
25-Dec-18 n.d.
26-Dec-18 161 1.61%
27-Dec-18 163 1.63%
28-Dec-18 164 1.64%
31-Dec-18 168 1.68%
UNACEM
Tasa de descuento
Reapalancar betas
Deuda (miles de soles) 3,071,938 Nro acciones 31.12.2018Cotización al 31.12.2022
MKT cap (miles de soles) 4,280,909 acciones comunes 1,646,503,408.0 2.60
D/E 71.76%
Tasa imponible 25.17% Tasa de impuesto efectiva 2018 Fórmula de Hamada
Beta desapalancada 0.808
Beta re apalancada 1.24
Costo de capital
Tasa libre de riesgo 2.68% El valor del T-bond de 10 años al 31/12/2018
Beta apalancada 1.24
Prima por riesgo 6.26% Diferencia de los promedios aritméticos de los rendimientos del mercado (S&P 500) y del retorno del activo libre de riesgo (T-B
Costo de capital US$ nominales 10.46%
Considerando una tasa de inflación esperada en dólares de largo plazo, publicada por la FED, de 2%.
Inflación esperada US$ 2.00%
Costo de capital US$ reales 8.29%
Riesgo País ajustado 4.65% EMBIG al 31/12/2022 * Lambda

NO ES NECESARIO Lambda 2.87 Desv. Est. acciones Perú/Desv. Est. Bono Global
APLICAR LAMBDA Para la inflación esperada en soles, tomamos el promedio del rango meta del BCRP al largo plazo.
Inflación esperada S/ 3.50%
Costo de capital S/ nominales 16.90%
WACC
Deuda/Deuda+Capital 41.78% Razón a valor de mercado
Capital/Deuda+Capital 58.22% Razón a valor de mercado
Tasa imponible 25.17% Tasa efectiva del último año (2022)
Costo de la deuda 5.10% Costo de la deuda
Costo de capital 16.90%
WACC 11.43%
WACC = Kd * (1-t)* D/PAT + Ke *(Pat / Deuda)

Valor
4,280,908,860.80
(S&P 500) y del retorno del activo libre de riesgo (T-Bond 10 años) de los últimos 90 años
ublicada por la FED, de 2%.
del BCRP al largo plazo.

LAMBDA 2.87 Al 31 de diciembre de 2018
Desv Std SPBVL 0.68% Data diaria de los años 2017 y 2018
Desv Std Bono PE 0.24% Data diaria de los años 2017 y 2018
SPBLPGPT Index
Dates PX_LAST Rendimiento Dates

1/2/2017 15534.94 1/3/2017
1/3/2017 15827.43 1.883% 1/4/2017
1/4/2017 15970.5 0.904% 1/5/2017
1/5/2017 16036.09 0.411% 1/6/2017
1/6/2017 15984.81 -0.320% 1/9/2017
1/9/2017 16044.74 0.375% 1/10/2017
1/10/2017 16205.74 1.003% 1/11/2017
1/11/2017 16079.92 -0.776% 1/12/2017
1/12/2017 16009.32 -0.439% 1/13/2017
1/13/2017 16018.04 0.054% 1/17/2017
1/16/2017 16011.19 -0.043% 1/18/2017
1/17/2017 15905.37 -0.661% 1/19/2017
1/18/2017 15895 -0.065% 1/20/2017
1/19/2017 15726.74 -1.059% 1/23/2017
1/20/2017 15696.1 -0.195% 1/24/2017
1/23/2017 15838.14 0.905% 1/25/2017
1/24/2017 16096.64 1.632% 1/26/2017
1/25/2017 16199.82 0.641% 1/27/2017
1/26/2017 16056.3 -0.886% 1/30/2017
1/27/2017 16023.49 -0.204% 1/31/2017
1/30/2017 15944.5 -0.493% 2/1/2017
1/31/2017 15983.95 0.247% 2/2/2017
2/1/2017 16048.53 0.404% 2/3/2017
2/2/2017 16082.46 0.211% 2/6/2017
2/3/2017 16149.37 0.416% 2/7/2017
2/6/2017 16242.64 0.578% 2/8/2017
2/7/2017 16407.15 1.013% 2/9/2017
2/8/2017 16415.54 0.051% 2/10/2017
2/9/2017 16283.92 -0.802% 2/13/2017
2/10/2017 16441.86 0.970% 2/14/2017
2/13/2017 16444.9 0.018% 2/15/2017
2/14/2017 16327.1 -0.716% 2/16/2017
2/15/2017 16344.82 0.109% 2/17/2017
2/16/2017 16299.19 -0.279% 2/21/2017
2/17/2017 16254.53 -0.274% 2/22/2017
2/20/2017 16179.55 -0.461% 2/23/2017
2/21/2017 16314.11 0.832% 2/24/2017
2/22/2017 16319.33 0.032% 2/27/2017
2/23/2017 16223.64 -0.586% 2/28/2017
2/24/2017 15935.2 -1.778% 3/1/2017
2/27/2017 15740.41 -1.222% 3/2/2017
2/28/2017 15766.12 0.163% 3/3/2017
3/1/2017 16030.39 1.676% 3/6/2017
3/2/2017 15916.18 -0.712% 3/7/2017
3/3/2017 15896.26 -0.125% 3/8/2017
3/6/2017 15608.76 -1.809% 3/9/2017
3/7/2017 15449.88 -1.018% 3/10/2017
3/8/2017 15391.73 -0.376% 3/13/2017
3/9/2017 15274.73 -0.760% 3/14/2017
3/10/2017 15306.28 0.207% 3/15/2017
3/13/2017 15315.08 0.057% 3/16/2017
3/14/2017 15054.77 -1.700% 3/17/2017
3/15/2017 15293.5 1.586% 3/20/2017
3/16/2017 15504.09 1.377% 3/21/2017
3/17/2017 15518.44 0.093% 3/22/2017
3/20/2017 15544.95 0.171% 3/23/2017
3/21/2017 15462.38 -0.531% 3/24/2017
3/22/2017 15412.45 -0.323% 3/27/2017
3/23/2017 15492.47 0.519% 3/28/2017
3/24/2017 15512.05 0.126% 3/29/2017
3/27/2017 15460.62 -0.332% 3/30/2017
3/28/2017 15581.49 0.782% 3/31/2017
3/29/2017 15624.93 0.279% 4/3/2017
3/30/2017 15673.12 0.308% 4/4/2017
3/31/2017 15757.01 0.535% 4/5/2017
4/3/2017 15787.42 0.193% 4/6/2017
4/4/2017 15924.81 0.870% 4/7/2017
4/5/2017 15997.85 0.459% 4/10/2017
4/6/2017 15910.78 -0.544% 4/11/2017
4/7/2017 15844.2 -0.418% 4/12/2017
4/10/2017 15779.11 -0.411% 4/13/2017
4/11/2017 15791 0.075% 4/17/2017
4/12/2017 15841.95 0.323% 4/18/2017
4/13/2017 15841.95 0.000% 4/19/2017
4/14/2017 15841.95 0.000% 4/20/2017
4/17/2017 15750.63 -0.576% 4/21/2017
4/18/2017 15617.29 -0.847% 4/24/2017
4/19/2017 15586.93 -0.194% 4/25/2017
4/20/2017 15686.23 0.637% 4/26/2017
4/21/2017 15646.39 -0.254% 4/27/2017
4/24/2017 15545.59 -0.644% 4/28/2017
4/25/2017 15538.13 -0.048% 5/1/2017
4/26/2017 15654.9 0.752% 5/2/2017
4/27/2017 15495.33 -1.019% 5/3/2017
4/28/2017 15559.3 0.413% 5/4/2017
5/1/2017 15559.3 0.000% 5/5/2017
5/2/2017 15703.48 0.927% 5/8/2017
5/3/2017 15661.05 -0.270% 5/9/2017
5/4/2017 15595.64 -0.418% 5/10/2017
5/5/2017 15722.31 0.812% 5/11/2017
5/8/2017 15772.6 0.320% 5/12/2017
5/9/2017 15870.71 0.622% 5/15/2017
5/10/2017 16024.42 0.969% 5/16/2017
5/11/2017 16134.24 0.685% 5/17/2017
5/12/2017 16190.28 0.347% 5/18/2017
5/15/2017 16246.36 0.346% 5/19/2017
5/16/2017 16136.54 -0.676% 5/22/2017
5/17/2017 16171.85 0.219% 5/23/2017
5/18/2017 15958.18 -1.321% 5/24/2017
5/19/2017 16186.44 1.430% 5/25/2017
5/22/2017 16191.83 0.033% 5/26/2017
5/23/2017 16137.92 -0.333% 5/30/2017
5/24/2017 16014.94 -0.762% 5/31/2017
5/25/2017 16029.21 0.089% 6/1/2017
5/26/2017 16073.03 0.273% 6/2/2017
5/29/2017 16150.57 0.482% 6/5/2017
5/30/2017 16053.44 -0.601% 6/6/2017
5/31/2017 16000.08 -0.332% 6/7/2017
6/1/2017 15943.19 -0.356% 6/8/2017
6/2/2017 15910.6 -0.204% 6/9/2017
6/5/2017 15958.44 0.301% 6/12/2017
6/6/2017 16061.17 0.644% 6/13/2017
6/7/2017 16091.83 0.191% 6/14/2017
6/8/2017 16153.09 0.381% 6/15/2017
6/9/2017 16198.71 0.282% 6/16/2017
6/12/2017 16046.51 -0.940% 6/19/2017
6/13/2017 16098.88 0.326% 6/20/2017
6/14/2017 16129.13 0.188% 6/21/2017
6/15/2017 15903.5 -1.399% 6/22/2017
6/16/2017 15858.77 -0.281% 6/23/2017
6/19/2017 15987.77 0.813% 6/26/2017
6/20/2017 15879.38 -0.678% 6/27/2017
6/21/2017 16022.16 0.899% 6/28/2017
6/22/2017 16005.18 -0.106% 6/29/2017
6/23/2017 16076.77 0.447% 6/30/2017
6/26/2017 16078.92 0.013% 7/3/2017
6/27/2017 16077.89 -0.006% 7/5/2017
6/28/2017 16017.14 -0.378% 7/6/2017
6/29/2017 16017.14 0.000% 7/7/2017
6/30/2017 16132.87 0.723% 7/10/2017
7/3/2017 16186.84 0.335% 7/11/2017
7/4/2017 16248.71 0.382% 7/12/2017
7/5/2017 16254.73 0.037% 7/13/2017
7/6/2017 16166.37 -0.544% 7/14/2017
7/7/2017 16172.49 0.038% 7/17/2017
7/10/2017 16158.83 -0.084% 7/18/2017
7/11/2017 16321.7 1.008% 7/19/2017
7/12/2017 16414.87 0.571% 7/20/2017
7/13/2017 16388.51 -0.161% 7/21/2017
7/14/2017 16512.25 0.755% 7/24/2017
7/17/2017 16582.25 0.424% 7/25/2017
7/18/2017 16554.12 -0.170% 7/26/2017
7/19/2017 16578.22 0.146% 7/27/2017
7/20/2017 16573.92 -0.026% 7/28/2017
7/21/2017 16621.76 0.289% 7/31/2017
7/24/2017 16616.15 -0.034% 8/1/2017
7/25/2017 16740.67 0.749% 8/2/2017
7/26/2017 16761.94 0.127% 8/3/2017
7/27/2017 16855.81 0.560% 8/4/2017
7/28/2017 16855.81 0.000% 8/7/2017
7/31/2017 16750.17 -0.627% 8/8/2017
8/1/2017 16844.12 0.561% 8/9/2017
8/2/2017 16850.5 0.038% 8/10/2017
8/3/2017 16882.53 0.190% 8/11/2017
8/4/2017 16825.97 -0.335% 8/14/2017
8/7/2017 16797.1 -0.172% 8/15/2017
8/8/2017 16995.64 1.182% 8/16/2017
8/9/2017 17125.93 0.767% 8/17/2017
8/10/2017 16891.34 -1.370% 8/18/2017
8/11/2017 16887.89 -0.020% 8/21/2017
8/14/2017 16950.07 0.368% 8/22/2017
8/15/2017 16949.99 0.000% 8/23/2017
8/16/2017 17179.11 1.352% 8/24/2017
8/17/2017 17077.86 -0.589% 8/25/2017
8/18/2017 17245.49 0.982% 8/28/2017
8/21/2017 17378.49 0.771% 8/29/2017
8/22/2017 17448.97 0.406% 8/30/2017
8/23/2017 17395.53 -0.306% 8/31/2017
8/24/2017 17511.86 0.669% 9/1/2017
8/25/2017 17561.08 0.281% 9/5/2017
8/28/2017 17634.19 0.416% 9/6/2017
8/29/2017 17607.98 -0.149% 9/7/2017
8/30/2017 17607.98 0.000% 9/8/2017
8/31/2017 17616.44 0.048% 9/11/2017
9/1/2017 17830.31 1.214% 9/12/2017
9/4/2017 17889.57 0.332% 9/13/2017
9/5/2017 17878.29 -0.063% 9/14/2017
9/6/2017 18113.87 1.318% 9/15/2017
9/7/2017 18059.32 -0.301% 9/18/2017
9/8/2017 17943.85 -0.639% 9/19/2017
9/11/2017 18067.99 0.692% 9/20/2017
9/12/2017 18050.38 -0.097% 9/21/2017
9/13/2017 18070.66 0.112% 9/22/2017
9/14/2017 18060.39 -0.057% 9/25/2017
9/15/2017 18150.42 0.498% 9/26/2017
9/18/2017 18166.08 0.086% 9/27/2017
9/19/2017 18100.3 -0.362% 9/28/2017
9/20/2017 18049.98 -0.278% 9/29/2017
9/21/2017 18087.42 0.207% 10/2/2017
9/22/2017 18020.99 -0.367% 10/3/2017
9/25/2017 18208.13 1.038% 10/4/2017
9/26/2017 18230.7 0.124% 10/5/2017
9/27/2017 18277.58 0.257% 10/6/2017
9/28/2017 18460.08 0.998% 10/10/2017
9/29/2017 18538.27 0.424% 10/11/2017
10/2/2017 18798.02 1.401% 10/12/2017
10/3/2017 19065.87 1.425% 10/13/2017
10/4/2017 19363.39 1.560% 10/16/2017
10/5/2017 19610.46 1.276% 10/17/2017
10/6/2017 19479.14 -0.670% 10/18/2017
10/9/2017 19405.99 -0.376% 10/19/2017
10/10/2017 19327.92 -0.402% 10/20/2017
10/11/2017 19346.43 0.096% 10/23/2017
10/12/2017 19473.06 0.655% 10/24/2017
10/13/2017 19628.15 0.796% 10/25/2017
10/16/2017 19760.69 0.675% 10/26/2017
10/17/2017 19694.52 -0.335% 10/27/2017
10/18/2017 19655.27 -0.199% 10/30/2017
10/19/2017 19609.69 -0.232% 10/31/2017
10/20/2017 19768.62 0.810% 11/1/2017
10/23/2017 19903.02 0.680% 11/2/2017
10/24/2017 19952.95 0.251% 11/3/2017
10/25/2017 19912.47 -0.203% 11/6/2017
10/26/2017 19940.2 0.139% 11/7/2017
10/27/2017 19952.84 0.063% 11/8/2017
10/30/2017 19866.23 -0.434% 11/9/2017
10/31/2017 19874.12 0.040% 11/10/2017
11/1/2017 19874.12 0.000% 11/13/2017
11/2/2017 20082.61 1.049% 11/14/2017
11/3/2017 20099.63 0.085% 11/15/2017
11/6/2017 20157.27 0.287% 11/16/2017
11/7/2017 19978.71 -0.886% 11/17/2017
11/8/2017 19958.55 -0.101% 11/20/2017
11/9/2017 19961.68 0.016% 11/21/2017
11/10/2017 19680.91 -1.407% 11/22/2017
11/13/2017 19594.04 -0.441% 11/24/2017
11/14/2017 19498.6 -0.487% 11/27/2017
11/15/2017 19426.01 -0.372% 11/28/2017
11/16/2017 19385.7 -0.208% 11/29/2017
11/17/2017 19518.28 0.684% 11/30/2017
11/20/2017 19582.27 0.328% 12/1/2017
11/21/2017 19766.71 0.942% 12/4/2017
11/22/2017 19886 0.603% 12/5/2017
11/23/2017 19932.43 0.233% 12/6/2017
11/24/2017 20011.1 0.395% 12/7/2017
11/27/2017 19832.89 -0.891% 12/8/2017
11/28/2017 19811.52 -0.108% 12/11/2017
11/29/2017 19782.61 -0.146% 12/12/2017
11/30/2017 19694.09 -0.447% 12/13/2017
12/1/2017 19766.72 0.369% 12/14/2017
12/4/2017 19658.69 -0.547% 12/15/2017
12/5/2017 19430.59 -1.160% 12/18/2017
12/6/2017 19242.56 -0.968% 12/19/2017
12/7/2017 19232.22 -0.054% 12/20/2017
12/8/2017 19232.22 0.000% 12/21/2017
12/11/2017 19206.14 -0.136% 12/22/2017
12/12/2017 19289.55 0.434% 12/26/2017
12/13/2017 19251.16 -0.199% 12/27/2017
12/14/2017 18655.24 -3.096% 12/28/2017
12/15/2017 18589.37 -0.353% 12/29/2017
12/18/2017 18977.16 2.086% 1/2/2018
12/19/2017 19066.22 0.469% 1/3/2018
12/20/2017 19257.26 1.002% 1/4/2018
12/21/2017 19240.39 -0.088% 1/5/2018
12/22/2017 19660.4 2.183% 1/8/2018
12/25/2017 19660.4 0.000% 1/9/2018
12/26/2017 19604.92 -0.282% 1/10/2018
12/27/2017 19661.48 0.288% 1/11/2018
12/28/2017 19839.44 0.905% 1/12/2018
12/29/2017 19974.38 0.680% 1/16/2018
1/1/2018 19974.38 0.000% 1/17/2018
1/2/2018 20280.67 1.533% 1/18/2018
1/3/2018 20333.73 0.262% 1/19/2018
1/4/2018 20490.25 0.770% 1/22/2018
1/5/2018 20640.87 0.735% 1/23/2018
1/8/2018 20548.08 -0.450% 1/24/2018
1/9/2018 20547.98 0.000% 1/25/2018
1/10/2018 20554.53 0.032% 1/26/2018
1/11/2018 20588.82 0.167% 1/29/2018
1/12/2018 20777.07 0.914% 1/30/2018
1/15/2018 20788.49 0.055% 1/31/2018
1/16/2018 20838.56 0.241% 2/1/2018
1/17/2018 20808.77 -0.143% 2/2/2018
1/18/2018 20847.61 0.187% 2/5/2018
1/19/2018 20934.58 0.417% 2/6/2018
1/22/2018 20948.21 0.065% 2/7/2018
1/23/2018 20991.09 0.205% 2/8/2018
1/24/2018 21246.5 1.217% 2/9/2018
1/25/2018 21247.2 0.003% 2/12/2018
1/26/2018 21380.22 0.626% 2/13/2018
1/29/2018 21374.35 -0.027% 2/14/2018
1/30/2018 21136.98 -1.111% 2/15/2018
1/31/2018 21068.89 -0.322% 2/16/2018
2/1/2018 21084.97 0.076% 2/20/2018
2/2/2018 20720.94 -1.726% 2/21/2018
2/5/2018 20511.03 -1.013% 2/22/2018
2/6/2018 20606.98 0.468% 2/23/2018
2/7/2018 20554.51 -0.255% 2/26/2018
2/8/2018 20195.57 -1.746% 2/27/2018
2/9/2018 20196.79 0.006% 2/28/2018
2/12/2018 20339.68 0.707% 3/1/2018
2/13/2018 20458.92 0.586% 3/2/2018
2/14/2018 20858.59 1.954% 3/5/2018
2/15/2018 20895.48 0.177% 3/6/2018
2/16/2018 20759.16 -0.652% 3/7/2018
2/19/2018 20730.62 -0.137% 3/8/2018
2/20/2018 20652.07 -0.379% 3/9/2018
2/21/2018 20704.94 0.256% 3/12/2018
2/22/2018 20689.05 -0.077% 3/13/2018
2/23/2018 20768.07 0.382% 3/14/2018
2/26/2018 20807.84 0.191% 3/15/2018
2/27/2018 20805.08 -0.013% 3/16/2018
2/28/2018 20831.78 0.128% 3/19/2018
3/1/2018 20753.54 -0.376% 3/20/2018
3/2/2018 20832.77 0.382% 3/21/2018
3/5/2018 20848.51 0.076% 3/22/2018
3/6/2018 21043.51 0.935% 3/23/2018
3/7/2018 20865.18 -0.847% 3/26/2018
3/8/2018 20793.7 -0.343% 3/27/2018
3/9/2018 20943.01 0.718% 3/28/2018
3/12/2018 20876.75 -0.316% 3/29/2018
3/13/2018 20824.11 -0.252% 4/2/2018
3/14/2018 20683.8 -0.674% 4/3/2018
3/15/2018 20639.09 -0.216% 4/4/2018
3/16/2018 20626.02 -0.063% 4/5/2018
3/19/2018 20534.43 -0.444% 4/6/2018
3/20/2018 20658.27 0.603% 4/9/2018
3/21/2018 20840.67 0.883% 4/10/2018
3/22/2018 20557.35 -1.359% 4/11/2018
3/23/2018 20640.33 0.404% 4/12/2018
3/26/2018 20667.58 0.132% 4/13/2018
3/27/2018 20600.36 -0.325% 4/16/2018
3/28/2018 20558.84 -0.202% 4/17/2018
3/29/2018 20558.84 0.000% 4/18/2018
3/30/2018 20558.84 0.000% 4/19/2018
4/2/2018 20775.67 1.055% 4/20/2018
4/3/2018 20882.07 0.512% 4/23/2018
4/4/2018 21012.69 0.626% 4/24/2018
4/5/2018 21135.29 0.583% 4/25/2018
4/6/2018 21038.12 -0.460% 4/26/2018
4/9/2018 21007.22 -0.147% 4/27/2018
4/10/2018 21155.83 0.707% 4/30/2018
4/11/2018 21200.76 0.212% 5/1/2018
4/12/2018 21116.35 -0.398% 5/2/2018
4/13/2018 21116.35 0.000% 5/3/2018
4/16/2018 21031.52 -0.402% 5/4/2018
4/17/2018 21308.8 1.318% 5/7/2018
4/18/2018 21361.98 0.250% 5/8/2018
4/19/2018 21414.91 0.248% 5/9/2018
4/20/2018 21454.91 0.187% 5/10/2018
4/23/2018 21516.09 0.285% 5/11/2018
4/24/2018 21504.17 -0.055% 5/14/2018
4/25/2018 21357.15 -0.684% 5/15/2018
4/26/2018 21467.14 0.515% 5/16/2018
4/27/2018 21410.3 -0.265% 5/17/2018
4/30/2018 21428.86 0.087% 5/18/2018
5/1/2018 21428.86 0.000% 5/21/2018
5/2/2018 21328.86 -0.467% 5/22/2018
5/3/2018 21148.32 -0.846% 5/23/2018
5/4/2018 21151.44 0.015% 5/24/2018
5/7/2018 21176.48 0.118% 5/25/2018
5/8/2018 21136.69 -0.188% 5/29/2018
5/9/2018 21143.13 0.030% 5/30/2018
5/10/2018 21267.78 0.590% 5/31/2018
5/11/2018 21248.8 -0.089% 6/1/2018
5/14/2018 21088.82 -0.753% 6/4/2018
5/15/2018 21116.12 0.129% 6/5/2018
5/16/2018 20952.86 -0.773% 6/6/2018
5/17/2018 21088.99 0.650% 6/7/2018
5/18/2018 21094.66 0.027% 6/8/2018
5/21/2018 21114.27 0.093% 6/11/2018
5/22/2018 21121.48 0.034% 6/12/2018
5/23/2018 20906.95 -1.016% 6/13/2018
5/24/2018 20988.53 0.390% 6/14/2018
5/25/2018 20992.36 0.018% 6/15/2018
5/28/2018 21003.81 0.055% 6/18/2018
5/29/2018 20718.13 -1.360% 6/19/2018
5/30/2018 20786.96 0.332% 6/20/2018
5/31/2018 20814.29 0.131% 6/21/2018
6/1/2018 21018.11 0.979% 6/22/2018
6/4/2018 21128.17 0.524% 6/25/2018
6/5/2018 21188.57 0.286% 6/26/2018
6/6/2018 21346.75 0.747% 6/27/2018
6/7/2018 21228.44 -0.554% 6/28/2018
6/8/2018 21203.95 -0.115% 6/29/2018
6/11/2018 21197.11 -0.032% 7/2/2018
6/12/2018 21321.28 0.586% 7/3/2018
6/13/2018 21138.58 -0.857% 7/5/2018
6/14/2018 21030.63 -0.511% 7/6/2018
6/15/2018 20732.88 -1.416% 7/9/2018
6/18/2018 20639.08 -0.452% 7/10/2018
6/19/2018 20566.9 -0.350% 7/11/2018
6/20/2018 20445.27 -0.591% 7/12/2018
6/21/2018 20360.46 -0.415% 7/13/2018
6/22/2018 20325.83 -0.170% 7/16/2018
6/25/2018 20149.21 -0.869% 7/17/2018
6/26/2018 20039.05 -0.547% 7/18/2018
6/27/2018 20005.93 -0.165% 7/19/2018
6/28/2018 19800.26 -1.028% 7/20/2018
6/29/2018 19800.26 0.000% 7/23/2018
7/2/2018 19872.86 0.367% 7/24/2018
7/3/2018 19682.4 -0.958% 7/25/2018
7/4/2018 19670.67 -0.060% 7/26/2018
7/5/2018 19900.89 1.170% 7/27/2018
7/6/2018 19953.92 0.266% 7/30/2018
7/9/2018 20095.9 0.712% 7/31/2018
7/10/2018 20019.89 -0.378% 8/1/2018
7/11/2018 19711.52 -1.540% 8/2/2018
7/12/2018 19730.34 0.095% 8/3/2018
7/13/2018 19749.09 0.095% 8/6/2018
7/16/2018 19727.32 -0.110% 8/7/2018
7/17/2018 20001.6 1.390% 8/8/2018
7/18/2018 20032.4 0.154% 8/9/2018
7/19/2018 19965.79 -0.333% 8/10/2018
7/20/2018 20045.54 0.399% 8/13/2018
7/23/2018 20134.6 0.444% 8/14/2018
7/24/2018 20331.12 0.976% 8/15/2018
7/25/2018 20347.13 0.079% 8/16/2018
7/26/2018 20414.42 0.331% 8/17/2018
7/27/2018 20373.96 -0.198% 8/20/2018
7/30/2018 20384.47 0.052% 8/21/2018
7/31/2018 20485.72 0.497% 8/22/2018
8/1/2018 20407.92 -0.380% 8/23/2018
8/2/2018 20176.92 -1.132% 8/24/2018
8/3/2018 20287.26 0.547% 8/27/2018
8/6/2018 20202.46 -0.418% 8/28/2018
8/7/2018 20223.46 0.104% 8/29/2018
8/8/2018 20213.45 -0.049% 8/30/2018
8/9/2018 20166.05 -0.234% 8/31/2018
8/10/2018 20124.06 -0.208% 9/4/2018
8/13/2018 19956.55 -0.832% 9/5/2018
8/14/2018 19986 0.148% 9/6/2018
8/15/2018 19533.38 -2.265% 9/7/2018
8/16/2018 19493.69 -0.203% 9/10/2018
8/17/2018 19533.29 0.203% 9/11/2018
8/20/2018 19584.5 0.262% 9/12/2018
8/21/2018 19445.81 -0.708% 9/13/2018
8/22/2018 19457.05 0.058% 9/14/2018
8/23/2018 19468.42 0.058% 9/17/2018
8/24/2018 19631.33 0.837% 9/18/2018
8/27/2018 19704.21 0.371% 9/19/2018
8/28/2018 19638.25 -0.335% 9/20/2018
8/29/2018 19653.24 0.076% 9/21/2018
8/30/2018 19653.24 0.000% 9/24/2018
8/31/2018 19443.11 -1.069% 9/25/2018
9/3/2018 19467.27 0.124% 9/26/2018
9/4/2018 19169.03 -1.532% 9/27/2018
9/5/2018 18942.14 -1.184% 9/28/2018
9/6/2018 18875.65 -0.351% 10/1/2018
9/7/2018 18900.44 0.131% 10/2/2018
9/10/2018 18896.63 -0.020% 10/3/2018
9/11/2018 18756.02 -0.744% 10/4/2018
9/12/2018 19026.7 1.443% 10/5/2018
9/13/2018 18970.62 -0.295% 10/9/2018
9/14/2018 18934.81 -0.189% 10/10/2018
9/17/2018 18772.92 -0.855% 10/11/2018
9/18/2018 18885.3 0.599% 10/12/2018
9/19/2018 19175.75 1.538% 10/15/2018
9/20/2018 19488.34 1.630% 10/16/2018
9/21/2018 19609.61 0.622% 10/17/2018
9/24/2018 19575.04 -0.176% 10/18/2018
9/25/2018 19585.06 0.051% 10/19/2018
9/26/2018 19604 0.097% 10/22/2018
9/27/2018 19537.65 -0.338% 10/23/2018
9/28/2018 19564.07 0.135% 10/24/2018
10/1/2018 19570.45 0.033% 10/25/2018
10/2/2018 19694.04 0.632% 10/26/2018
10/3/2018 19823.44 0.657% 10/29/2018
10/4/2018 19629.02 -0.981% 10/30/2018
10/5/2018 19357.74 -1.382% 10/31/2018
10/8/2018 19357.74 0.000% 11/1/2018
10/9/2018 19390.92 0.171% 11/2/2018
10/10/2018 19211.34 -0.926% 11/5/2018
10/11/2018 19232.2 0.109% 11/6/2018
10/12/2018 19231.14 -0.006% 11/7/2018
10/15/2018 19306.34 0.391% 11/8/2018
10/16/2018 19360.44 0.280% 11/9/2018
10/17/2018 19290.61 -0.361% 11/13/2018
10/18/2018 19064.32 -1.173% 11/14/2018
10/19/2018 18895.09 -0.888% 11/15/2018
10/22/2018 18905.75 0.056% 11/16/2018
10/23/2018 18708.69 -1.042% 11/19/2018
10/24/2018 18657.99 -0.271% 11/20/2018
10/25/2018 18657.68 -0.002% 11/21/2018
10/26/2018 18576.36 -0.436% 11/23/2018
10/29/2018 18593.16 0.090% 11/26/2018
10/30/2018 18641.35 0.259% 11/27/2018
10/31/2018 18909.4 1.438% 11/28/2018
11/1/2018 18909.4 0.000% 11/29/2018
11/2/2018 19165.7 1.355% 11/30/2018
11/5/2018 19273.8 0.564% 12/3/2018
11/6/2018 19302.11 0.147% 12/4/2018
11/7/2018 19266.2 -0.186% 12/6/2018
11/8/2018 19278.82 0.066% 12/7/2018
11/9/2018 19080.49 -1.029% 12/10/2018
11/12/2018 18935.49 -0.760% 12/11/2018
11/13/2018 18975.75 0.213% 12/12/2018
11/14/2018 18989.87 0.074% 12/13/2018
11/15/2018 19183.65 1.020% 12/14/2018
11/16/2018 19446.81 1.372% 12/17/2018
11/19/2018 19363.65 -0.428% 12/18/2018
11/20/2018 19046.65 -1.637% 12/19/2018
11/21/2018 19134.29 0.460% 12/20/2018
11/22/2018 19219.92 0.448% 12/21/2018
11/23/2018 18894.13 -1.695% 12/24/2018
11/26/2018 18974.47 0.425% 12/26/2018
11/27/2018 18999.05 0.130% 12/27/2018
11/28/2018 19207.4 1.097% 12/28/2018
11/29/2018 19303.62 0.501% 12/31/2018
11/30/2018 19180.97 -0.635% 1/2/2019
12/3/2018 19361.77 0.943% 1/3/2019
12/4/2018 19452.42 0.468% 1/4/2019
12/5/2018 19529.61 0.397% 1/7/2019
12/6/2018 19322.91 -1.058% 1/8/2019
12/7/2018 19405.23 0.426% 1/9/2019
12/10/2018 19202.09 -1.047% 1/10/2019
12/11/2018 19244.81 0.222% 1/11/2019
12/12/2018 19245.58 0.004% 1/14/2019
12/13/2018 19201.21 -0.231% 1/15/2019
12/14/2018 19073.49 -0.665% 1/16/2019
12/17/2018 19128.29 0.287% 1/17/2019
12/18/2018 19156.63 0.148% 1/18/2019
12/19/2018 19119.21 -0.195% 1/22/2019
12/20/2018 19085.34 -0.177% 1/23/2019
12/21/2018 18997.14 -0.462% 1/24/2019
12/24/2018 19015.97 0.099% 1/25/2019
12/25/2018 19015.97 0.000% 1/28/2019
12/26/2018 19099.23 0.438% 1/29/2019
12/27/2018 19205.78 0.558% 1/30/2019
12/28/2018 19305.02 0.517% 1/31/2019
12/31/2018 19350.4 0.235% 2/1/2019
1/1/2019 19350.4 0.000% 2/4/2019
1/2/2019 19368.14 0.092% 2/5/2019
1/3/2019 19242.95 -0.646% 2/6/2019
1/4/2019 19469.46 1.177% 2/7/2019
1/7/2019 19490.95 0.110% 2/8/2019
1/8/2019 19378.67 -0.576% 2/11/2019
1/9/2019 19565.91 0.966% 2/12/2019
1/10/2019 19699.12 0.681% 2/13/2019
1/11/2019 19617.04 -0.417% 2/14/2019
1/14/2019 19668.77 0.264% 2/15/2019
1/15/2019 19538.41 -0.663% 2/19/2019
1/16/2019 19582.05 0.223% 2/20/2019
1/17/2019 19658.94 0.393% 2/21/2019
1/18/2019 19576.87 -0.417% 2/22/2019
1/21/2019 19580.15 0.017% 2/25/2019
1/22/2019 19513.63 -0.340% 2/26/2019
1/23/2019 19566.34 0.270% 2/27/2019
1/24/2019 19691.64 0.640% 2/28/2019
1/25/2019 19856.14 0.835% 3/1/2019
1/28/2019 19846.78 -0.047% 3/4/2019
1/29/2019 20041.32 0.980% 3/5/2019
1/30/2019 20067.22 0.129% 3/6/2019
1/31/2019 20190.87 0.616% 3/7/2019
2/1/2019 20294.04 0.511% 3/8/2019
2/4/2019 20450.28 0.770% 3/11/2019
2/5/2019 20517.61 0.329% 3/12/2019
2/6/2019 20532.71 0.074% 3/13/2019
2/7/2019 20315.97 -1.056% 3/14/2019
2/8/2019 20314.77 -0.006% 3/15/2019
2/11/2019 20138.19 -0.869% 3/18/2019
2/12/2019 20125.39 -0.064% 3/19/2019
2/13/2019 20155.01 0.147% 3/20/2019
2/14/2019 20226.24 0.353% 3/21/2019
2/15/2019 20391.24 0.816% 3/22/2019
2/18/2019 20346.15 -0.221% 3/25/2019
2/19/2019 20417.73 0.352% 3/26/2019
2/20/2019 20627.41 1.027% 3/27/2019
2/21/2019 20423.26 -0.990% 3/28/2019
2/22/2019 20560.07 0.670% 3/29/2019
2/25/2019 20561.13 0.005% 4/1/2019
2/26/2019 20567.61 0.032% 4/2/2019
2/27/2019 20569.26 0.008% 4/3/2019
2/28/2019 20614.45 0.220% 4/4/2019
3/1/2019 20561.58 -0.256% 4/5/2019
3/4/2019 20611.18 0.241% 4/8/2019
3/5/2019 20540.38 -0.344% 4/9/2019
3/6/2019 20587.02 0.227% 4/10/2019
3/7/2019 20530.96 -0.272% 4/11/2019
3/8/2019 20502.87 -0.137% 4/12/2019
3/11/2019 20661.2 0.772% 4/15/2019
3/12/2019 20746.53 0.413% 4/16/2019
3/13/2019 20895.64 0.719% 4/17/2019
3/14/2019 20823.38 -0.346% 4/18/2019
3/15/2019 20919.07 0.460% 4/22/2019
3/18/2019 21004.56 0.409% 4/23/2019
3/19/2019 21134.69 0.620% 4/24/2019
3/20/2019 21195.25 0.287% 4/25/2019
3/21/2019 21141.52 -0.254% 4/26/2019
3/22/2019 21009.3 -0.625% 4/29/2019
3/25/2019 20982.91 -0.126% 4/30/2019
3/26/2019 21030.29 0.226% 5/1/2019
3/27/2019 20997.1 -0.158% 5/2/2019
3/28/2019 20976.61 -0.098% 5/3/2019
3/29/2019 21098.07 0.579% 5/6/2019
4/1/2019 21075.93 -0.105% 5/7/2019
4/2/2019 21105.55 0.141% 5/8/2019
4/3/2019 21151.66 0.218% 5/9/2019
4/4/2019 21287.28 0.641% 5/10/2019
4/5/2019 21367.59 0.377% 5/13/2019
4/8/2019 21436.43 0.322% 5/14/2019
4/9/2019 21272.66 -0.764% 5/15/2019
4/10/2019 21279.33 0.031% 5/16/2019
4/11/2019 21000.95 -1.308% 5/17/2019
4/12/2019 21099.81 0.471% 5/20/2019
4/15/2019 21004.21 -0.453% 5/21/2019
4/16/2019 21139.65 0.645% 5/22/2019
4/17/2019 20938.43 -0.952% 5/23/2019
4/18/2019 20938.43 0.000% 5/24/2019
4/19/2019 20938.43 0.000% 5/28/2019
4/22/2019 20873.79 -0.309% 5/29/2019
4/23/2019 20824.63 -0.236% 5/30/2019
4/24/2019 20703.35 -0.582% 5/31/2019
4/25/2019 20700.38 -0.014% 6/3/2019
4/26/2019 20846.27 0.705% 6/4/2019
4/29/2019 20886.76 0.194% 6/5/2019
4/30/2019 20896.5 0.047% 6/6/2019
5/1/2019 20896.5 0.000% 6/7/2019
5/2/2019 20765.92 -0.625% 6/10/2019
5/3/2019 20801.52 0.171% 6/11/2019
5/6/2019 20747.16 -0.261% 6/12/2019
5/7/2019 20688.02 -0.285% 6/13/2019
5/8/2019 20430.44 -1.245% 6/14/2019
5/9/2019 20213.3 -1.063% 6/17/2019
5/10/2019 20159.52 -0.266% 6/18/2019
5/13/2019 19957.71 -1.001% 6/19/2019
5/14/2019 20021.44 0.319% 6/20/2019
5/15/2019 20011.32 -0.051% 6/21/2019
5/16/2019 19951.9 -0.297% 6/24/2019
5/17/2019 19919 -0.165% 6/25/2019
5/20/2019 19941.11 0.111% 6/26/2019
5/21/2019 20074.22 0.668% 6/27/2019
5/22/2019 19902.59 -0.855% 6/28/2019
5/23/2019 19669.22 -1.173% 7/1/2019
5/24/2019 19711.53 0.215% 7/2/2019
5/27/2019 19668.89 -0.216% 7/3/2019
5/28/2019 19639.09 -0.152% 7/5/2019
5/29/2019 19658.14 0.097% 7/8/2019
5/30/2019 19812.4 0.785% 7/9/2019
5/31/2019 19922.77 0.557% 7/10/2019
6/3/2019 19981.1 0.293% 7/11/2019
6/4/2019 19986.77 0.028% 7/12/2019
6/5/2019 20100.69 0.570% 7/15/2019
6/6/2019 20113.62 0.064% 7/16/2019
6/7/2019 20298.64 0.920% 7/17/2019
6/10/2019 20287.56 -0.055% 7/18/2019
6/11/2019 20388.77 0.499% 7/19/2019
6/12/2019 20407.68 0.093% 7/22/2019
6/13/2019 20250.85 -0.768% 7/23/2019
6/14/2019 20295.8 0.222% 7/24/2019
6/17/2019 20206.58 -0.440% 7/25/2019
6/18/2019 20363.6 0.777% 7/26/2019
6/19/2019 20298.91 -0.318% 7/29/2019
6/20/2019 20587.85 1.423% 7/30/2019
6/21/2019 20492.17 -0.465% 7/31/2019
6/24/2019 20750 1.258% 8/1/2019
6/25/2019 20601.04 -0.718% 8/2/2019
6/26/2019 20609.42 0.041% 8/5/2019
6/27/2019 20666.13 0.275% 8/6/2019
6/28/2019 20622.79 -0.210% 8/7/2019
7/1/2019 20727.82 0.509% 8/8/2019
7/2/2019 20729.07 0.006% 8/9/2019
7/3/2019 20770.43 0.200% 8/12/2019
7/4/2019 20845.74 0.363% 8/13/2019
7/5/2019 20881.95 0.174% 8/14/2019
7/8/2019 20883.96 0.010% 8/15/2019
7/9/2019 20707.33 -0.846% 8/16/2019
7/10/2019 20760.77 0.258% 8/19/2019
7/11/2019 20698.61 -0.299% 8/20/2019
7/12/2019 20738.54 0.193% 8/21/2019
7/15/2019 20635 -0.499% 8/22/2019
7/16/2019 20805.87 0.828% 8/23/2019
7/17/2019 20839.3 0.161% 8/26/2019
7/18/2019 20919.65 0.386% 8/27/2019
7/19/2019 20845.29 -0.355% 8/28/2019
7/22/2019 20783.49 -0.296% 8/29/2019
7/23/2019 20729.21 -0.261% 8/30/2019
7/24/2019 20762.12 0.159% 9/3/2019
7/25/2019 20817.15 0.265% 9/4/2019
7/26/2019 20692.32 -0.600% 9/5/2019
7/29/2019 20692.32 0.000% 9/6/2019
7/30/2019 20199.61 -2.381% 9/9/2019
7/31/2019 19957.26 -1.200% 9/10/2019
8/1/2019 19862.67 -0.474% 9/11/2019
8/2/2019 19695.44 -0.842% 9/12/2019
8/5/2019 19396.96 -1.515% 9/13/2019
8/6/2019 19338.63 -0.301% 9/16/2019
8/7/2019 19604.48 1.375% 9/17/2019
8/8/2019 19653.96 0.252% 9/18/2019
8/9/2019 19487.67 -0.846% 9/19/2019
8/12/2019 19126.72 -1.852% 9/20/2019
8/13/2019 19226.19 0.520% 9/23/2019
8/14/2019 18955.34 -1.409% 9/24/2019
8/15/2019 18862.77 -0.488% 9/25/2019
8/16/2019 18915.65 0.280% 9/26/2019
8/19/2019 19112.2 1.039% 9/27/2019
8/20/2019 19088.02 -0.127% 9/30/2019
8/21/2019 18965.52 -0.642% 10/1/2019
8/22/2019 18833.67 -0.695% 10/2/2019
8/23/2019 18807.43 -0.139% 10/3/2019
8/26/2019 18723.7 -0.445% 10/4/2019
8/27/2019 18866.03 0.760% 10/7/2019
8/28/2019 19034.99 0.896% 10/8/2019
8/29/2019 19106.75 0.377% 10/9/2019
8/30/2019 19106.75 0.000% 10/10/2019
9/2/2019 19279.91 0.906% 10/11/2019
9/3/2019 19264.76 -0.079% 10/15/2019
9/4/2019 19242.27 -0.117% 10/16/2019
9/5/2019 19487.18 1.273% 10/17/2019
9/6/2019 19357.65 -0.665% 10/18/2019
9/9/2019 19193.23 -0.849% 10/21/2019
9/10/2019 19211.42 0.095% 10/22/2019
9/11/2019 19328.81 0.611% 10/23/2019
9/12/2019 19416.72 0.455% 10/24/2019
9/13/2019 19416.32 -0.002% 10/25/2019
9/16/2019 19468.26 0.268% 10/28/2019
9/17/2019 19485.46 0.088% 10/29/2019
9/18/2019 19506.98 0.110%
9/19/2019 19491.36 -0.080%
9/20/2019 19455.72 -0.183%
9/23/2019 19370.14 -0.440%
9/24/2019 19371.18 0.005%
9/25/2019 19391.8 0.106%
9/26/2019 19630.64 1.232%
9/27/2019 19750.35 0.610%
9/30/2019 19602.71 -0.748%
10/1/2019 19249.81 -1.800%
10/2/2019 19008.19 -1.255%
10/3/2019 18990.27 -0.094%
10/4/2019 19270.23 1.474%
10/7/2019 19232.36 -0.197%
10/8/2019 19232.36 0.000%
10/9/2019 19059.65 -0.898%
10/10/2019 19034.39 -0.133%
10/11/2019 19284.68 1.315%
10/14/2019 19401.49 0.606%
10/15/2019 19405.79 0.022%
10/16/2019 19355.12 -0.261%
10/17/2019 19298.57 -0.292%
10/18/2019 19407.98 0.567%
10/21/2019 19284.83 -0.635%
10/22/2019 19402.99 0.613%
10/23/2019 19502.96 0.515%
10/24/2019 19600.58 0.501%
10/25/2019 19518.94 -0.417%
10/28/2019 19561.49 0.218%
10/29/2019 19716.6 0.793%
Lambda finanzas: su significado en finanzas es el cambio en el precio de una opción debido al cambio de u
precio del activo subyacente. Esta última se calcula como la desviación típica del cambio de precio en porc
continuamente. El lambda es un indicador relevante para los inversionistas. Indica cuánto cambiaría el prec
volatilidad incluso si esta permanece constante.
PERU 4.125 08/25/2027 Govt
Last Price
PX_LAST Rendimiento N°
103.94 1
104.325 0.370% 2
105.3 0.935% 3
105.213 -0.083% 4
105.655 0.420% 5
105.865 0.199% 6
106.03 0.156% 7
106.685 0.618% 8
107.165 0.450% 9
107.78 0.574% 10
107.063 -0.665% 11
106.415 -0.605% 12
106.345 -0.066% 13
106.73 0.362% 14
106.358 -0.349% 15
106.205 -0.144% 16
106.125 -0.075% 17
106.255 0.122% 18
105.99 -0.249% 19
106.375 0.363% 20
106.37 -0.005% 21
106.495 0.118% 22
106.76 0.249% 23
106.935 0.164% 24
106.995 0.056% 25
107.735 0.692% 26
107.728 -0.006% 27
107.76 0.030% 28
107.76 0.000% 29
107.3 -0.427% 30
106.75 -0.513% 31
106.713 -0.035% 32
106.865 0.142% 33
107.01 0.136% 34
107.31 0.280% 35
107.465 0.144% 36
107.705 0.223% 37
108.178 0.439% 38
107.968 -0.194% 39
108.07 0.094% 40
107.865 -0.190% 41
107.655 -0.195% 42
107.69 0.033% 43
107.75 0.056% 44
107.02 -0.677% 45
106.34 -0.635% 46
106.705 0.343% 47
106.315 -0.365% 48
106.27 -0.042% 49
107.62 1.270% 50
107.815 0.181% 51
107.94 0.116% 52
108.272 0.308% 53
108.165 -0.099% 54
108.155 -0.009% 55
108.39 0.217% 56
108.67 0.258% 57
108.52 -0.138% 58
108.22 -0.276% 59
108.333 0.104% 60
107.94 -0.363% 61
107.73 -0.195% 62
108.085 0.330% 63
108.125 0.037% 64
108.3 0.162% 65
108.145 -0.143% 66
107.98 -0.153% 67
108.06 0.074% 68
108.178 0.109% 69
108.19 0.011% 70
108.363 0.160% 71
108.45 0.080% 72
108.473 0.021% 73
108.48 0.006% 74
108.3 -0.166% 75
108.458 0.146% 76
108.55 0.085% 77
108.29 -0.240% 78
108.16 -0.120% 79
108.315 0.143% 80
108.45 0.125% 81
108.46 0.009% 82
108.575 0.106% 83
108.615 0.037% 84
108.27 -0.318% 85
108.22 -0.046% 86
108.14 -0.074% 87
108.025 -0.106% 88
108.205 0.167% 89
108.33 0.116% 90
108.6 0.249% 91
108.6 0.000% 92
108.55 -0.046% 93
108.763 0.196% 94
108.52 -0.223% 95
108.688 0.155% 96
108.613 -0.069% 97
108.565 -0.044% 98
109.138 0.528% 99
109.073 -0.060% 100
109.123 0.046% 101
109.253 0.119% 102
109.283 0.027% 103
109.27 -0.012% 104
109.825 0.508% 105
109.913 0.080% 106
110.52 0.552% 107
110.618 0.089% 108
110.588 -0.027% 109
110.46 -0.116% 110
110.413 -0.043% 111
110.5 0.079% 112
110.828 0.297% 113
110.565 -0.237% 114
110.503 -0.056% 115
110.34 -0.148% 116
110.095 -0.222% 117
109.993 -0.093% 118
110.143 0.136% 119
110.233 0.082% 120
110.41 0.161% 121
109.983 -0.387% 122
109.793 -0.173% 123
109.168 -0.569% 124
108.978 -0.174% 125
108.95 -0.026% 126
108.913 -0.034% 127
108.373 -0.496% 128
108.44 0.062% 129
108.483 0.040% 130
108.483 0.000% 131
108.888 0.373% 132
108.783 -0.096% 133
109.033 0.230% 134
109.143 0.101% 135
109.503 0.330% 136
109.498 -0.005% 137
109.678 0.164% 138
109.768 0.082% 139
109.568 -0.182% 140
109.203 -0.333% 141
109.6 0.364% 142
109.513 -0.079% 143
109.522 0.008% 144
109.738 0.197% 145
109.985 0.225% 146
109.893 -0.084% 147
110.183 0.264% 148
109.903 -0.254% 149
110.048 0.132% 150
109.86 -0.171% 151
109.703 -0.143% 152
109.613 -0.082% 153
109.653 0.036% 154
109.66 0.006% 155
109.628 -0.029% 156
109.757 0.118% 157
109.688 -0.063% 158
109.8 0.102% 159
109.878 0.071% 160
109.708 -0.155% 161
109.828 0.109% 162
109.903 0.068% 163
110.328 0.387% 164
110.298 -0.027% 165
110.5 0.183% 166
110.668 0.152% 167
110.863 0.176% 168
110.893 0.027% 169
111.403 0.460% 170
111.22 -0.164% 171
111.69 0.423% 172
111.772 0.073% 173
111.463 -0.276% 174
111.303 -0.144% 175
111.385 0.074% 176
111.293 -0.083% 177
111.272 -0.019% 178
111.173 -0.089% 179
110.983 -0.171% 180
110.565 -0.377% 181
110.408 -0.142% 182
110.62 0.192% 183
110.71 0.081% 184
110.55 -0.145% 185
110.175 -0.339% 186
110.175 0.000% 187
110.155 -0.018% 188
110.125 -0.027% 189
110.2 0.068% 190
110.13 -0.064% 191
109.875 -0.232% 192
109.748 -0.116% 193
109.75 0.002% 194
109.84 0.082% 195
109.91 0.064% 196
110.175 0.241% 197
109.98 -0.177% 198
110.063 0.075% 199
109.855 -0.189% 200
109.983 0.117% 201
109.71 -0.248% 202
109.855 0.132% 203
109.46 -0.360% 204
109.25 -0.192% 205
109.233 -0.016% 206
109.365 0.121% 207
109.663 0.272% 208
109.638 -0.023% 209
109.72 0.075% 210
109.798 0.071% 211
109.953 0.141% 212
110.013 0.055% 213
109.84 -0.157% 214
109.805 -0.032% 215
109.723 -0.075% 216
109.483 -0.219% 217
109.468 -0.014% 218
109.52 0.048% 219
109.65 0.119% 220
109.615 -0.032% 221
109.73 0.105% 222
109.653 -0.070% 223
109.835 0.166% 224
110.11 0.250% 225
110 -0.100% 226
110.375 0.341% 227
110.31 -0.059% 228
109.963 -0.315% 229
109.823 -0.127% 230
109.86 0.034% 231
109.8 -0.055% 232
109.865 0.059% 233
109.803 -0.056% 234
109.76 -0.039% 235
109.465 -0.269% 236
109.503 0.035% 237
109.433 -0.064% 238
109.757 0.296% 239
109.53 -0.207% 240
109.132 -0.363% 241
109.132 0.000% 242
108.875 -0.235% 243
108.83 -0.041% 244
108.655 -0.161% 245
109.06 0.373% 246
109.018 -0.039% 247
109.155 0.126% 248
109.11 -0.041% 249
109.132 0.020% 250
109.028 -0.095% 251
109.305 0.254% 252
109.448 0.131% 253
109.44 -0.007% 254
109.628 0.172% 255
109.288 -0.310% 256
109.115 -0.158% 257
108.965 -0.137% 258
109.128 0.150% 259
109.143 0.014% 260
108.825 -0.291% 261
108.558 -0.245% 262
108.16 -0.367% 263
108.23 0.065% 264
108.405 0.162% 265
108.188 -0.200% 266
108.257 0.064% 267
108.18 -0.071% 268
107.76 -0.388% 269
107.3 -0.427% 270
107.46 0.149% 271
106.955 -0.470% 272
106.24 -0.669% 273
106.19 -0.047% 274
105.6 -0.556% 275
105.683 0.079% 276
104.82 -0.817% 277
104.075 -0.711% 278
104.15 0.072% 279
104.203 0.051% 280
103.708 -0.475% 281
104.083 0.362% 282
104.738 0.629% 283
104.373 -0.348% 284
103.948 -0.407% 285
103.948 0.000% 286
103.953 0.005% 287
104.503 0.529% 288
104.268 -0.225% 289
103.828 -0.422% 290
103.553 -0.265% 291
103.593 0.039% 292
103.653 0.058% 293
103.878 0.217% 294
103.772 -0.102% 295
103.923 0.146% 296
103.95 0.026% 297
104.113 0.157% 298
104.138 0.024% 299
104.213 0.072% 300
104.163 -0.048% 301
104.103 -0.058% 302
103.928 -0.168% 303
103.935 0.007% 304
103.965 0.029% 305
104.147 0.175% 306
103.975 -0.165% 307
103.938 -0.036% 308
104.433 0.476% 309
104.378 -0.053% 310
104.603 0.216% 311
104.9 0.284% 312
104.893 -0.007% 313
104.968 0.072% 314
105.205 0.226% 315
105.303 0.093% 316
105.175 -0.122% 317
105.14 -0.033% 318
105.147 0.007% 319
105.043 -0.099% 320
105.025 -0.017% 321
105.06 0.033% 322
105.1 0.038% 323
104.65 -0.428% 324
104.095 -0.530% 325
103.823 -0.261% 326
103.428 -0.380% 327
103.373 -0.053% 328
102.918 -0.440% 329
102.803 -0.112% 330
102.92 0.114% 331
102.908 -0.012% 332
102.685 -0.217% 333
102.028 -0.640% 334
101.938 -0.088% 335
102.257 0.313% 336
102.323 0.065% 337
101.935 -0.379% 338
101.998 0.062% 339
102.74 0.727% 340
102.835 0.092% 341
102.605 -0.224% 342
101.99 -0.599% 343
101.897 -0.091% 344
101.408 -0.480% 345
101.093 -0.311% 346
101.09 -0.003% 347
101.318 0.226% 348
101.903 0.577% 349
102.223 0.314% 350
102.348 0.122% 351
102.605 0.251% 352
102.473 -0.129% 353
102.385 -0.086% 354
102.363 -0.021% 355
102.403 0.039% 356
102.295 -0.105% 357
101.938 -0.349% 358
101.868 -0.069% 359
101.768 -0.098% 360
101.678 -0.088% 361
101.853 0.172% 362
101.985 0.130% 363
101.903 -0.080% 364
102.208 0.299% 365
102.09 -0.115% 366
102.16 0.069% 367
102.15 -0.010% 368
102.41 0.255% 369
102.573 0.159% 370
102.453 -0.117% 371
102.455 0.002% 372
102.478 0.022% 373
102.608 0.127% 374
102.67 0.060% 375
102.693 0.022% 376
102.853 0.156% 377
103.07 0.211% 378
103.348 0.270% 379
103.578 0.223% 380
103.783 0.198% 381
103.548 -0.226% 382
103.755 0.200% 383
104.1 0.333% 384
103.905 -0.187% 385
103.948 0.041% 386
103.895 -0.051% 387
103.9 0.005% 388
103.528 -0.358% 389
103.073 -0.439% 390
103.113 0.039% 391
103.263 0.145% 392
103.538 0.266% 393
103.603 0.063% 394
103.518 -0.082% 395
103.503 -0.014% 396
103.147 -0.344% 397
103.198 0.049% 398
103.382 0.178% 399
103.333 -0.047% 400
103.135 -0.192% 401
102.985 -0.145% 402
102.855 -0.126% 403
102.863 0.008% 404
102.9 0.036% 405
102.908 0.008% 406
102.933 0.024% 407
103.205 0.264% 408
103.438 0.226% 409
103.6 0.157% 410
103.653 0.051% 411
103.675 0.021% 412
103.658 -0.016% 413
103.743 0.082% 414
103.775 0.031% 415
103.903 0.123% 416
103.86 -0.041% 417
103.818 -0.040% 418
103.745 -0.070% 419
103.315 -0.414% 420
103.438 0.119% 421
103.488 0.048% 422
103.21 -0.269% 423
103.065 -0.140% 424
102.85 -0.209% 425
103.108 0.251% 426
103.215 0.104% 427
103.175 -0.039% 428
103.168 -0.007% 429
102.825 -0.332% 430
102.723 -0.099% 431
102.86 0.133% 432
102.973 0.110% 433
102.9 -0.071% 434
102.799 -0.098% 435
103.12 0.312% 436
103.262 0.138% 437
103.165 -0.094% 438
103.052 -0.110% 439
103.053 0.001% 440
102.644 -0.397% 441
102.105 -0.525% 442
101.977 -0.125% 443
101.798 -0.176% 444
101.29 -0.499% 445
101.302 0.012% 446
101.313 0.011% 447
101.311 -0.002% 448
101.522 0.208% 449
101.447 -0.074% 450
101.044 -0.397% 451
100.951 -0.092% 452
100.892 -0.058% 453
100.964 0.071% 454
100.991 0.027% 455
101.19 0.197% 456
101.166 -0.024% 457
101.072 -0.093% 458
101.067 -0.005% 459
100.949 -0.117% 460
101.006 0.056% 461
101.005 -0.001% 462
101.041 0.036% 463
101.079 0.038% 464
101.07 -0.009% 465
101.038 -0.032% 466
101.062 0.024% 467
101.031 -0.031% 468
101.031 0.000% 469
100.977 -0.053% 470
101.099 0.121% 471
100.953 -0.144% 472
100.799 -0.153% 473
100.925 0.125% 474
100.95 0.025% 475
100.945 -0.005% 476
100.928 -0.017% 477
101.225 0.294% 478
101.525 0.296% 479
101.765 0.236% 480
101.965 0.197% 481
101.992 0.026% 482
102.194 0.198% 483
102.373 0.175% 484
102.527 0.150% 485
102.701 0.170% 486
102.914 0.207% 487
103.06 0.142% 488
103.202 0.138% 489
103.285 0.080% 490
103.443 0.153% 491
103.519 0.073% 492
103.424 -0.092% 493
103.529 0.102% 494
103.453 -0.073% 495
103.428 -0.024% 496
103.449 0.020% 497
103.454 0.005% 498
103.447 -0.007% 499
103.538 0.088% 500
103.872 0.323% 501
104.062 0.183% 502
104.561 0.480% 503
104.45 -0.106% 504
104.633 0.175% 505
104.566 -0.064% 506
104.62 0.052% 507
104.723 0.098% 508
104.652 -0.068% 509
104.591 -0.058% 510
104.557 -0.033% 511
104.598 0.039% 512
104.637 0.037% 513
104.774 0.131% 514
104.951 0.169% 515
105.221 0.257% 516
105.156 -0.062% 517
105.207 0.048% 518
105.454 0.235% 519
105.878 0.402% 520
106.048 0.161% 521
106.144 0.091% 522
106.284 0.132% 523
106.145 -0.131% 524
106.097 -0.045% 525
105.978 -0.112% 526
105.785 -0.182% 527
105.719 -0.062% 528
105.762 0.041% 529
105.819 0.054% 530
105.846 0.026% 531
105.929 0.078% 532
105.977 0.045% 533
105.792 -0.175% 534
105.993 0.190% 535
105.983 -0.009% 536
106.126 0.135% 537
106.331 0.193% 538
106.154 -0.166% 539
106.015 -0.131% 540
106.096 0.076% 541
106.185 0.084% 542
106.437 0.237% 543
106.508 0.067% 544
106.564 0.053% 545
106.678 0.107% 546
106.949 0.254% 547
106.946 -0.003% 548
106.935 -0.010% 549
107.08 0.136% 550
107.197 0.109% 551
107.327 0.121% 552
107.52 0.180% 553
107.69 0.158% 554
107.849 0.148% 555
108.059 0.195% 556
108.802 0.688% 557
109.222 0.386% 558
109.308 0.079% 559
109.236 -0.066% 560
108.618 -0.566% 561
108.583 -0.032% 562
108.493 -0.083% 563
108.536 0.040% 564
108.581 0.041% 565
108.515 -0.061% 566
108.597 0.076% 567
108.529 -0.063% 568
108.116 -0.381% 569
107.969 -0.136% 570
107.852 -0.108% 571
107.823 -0.027% 572
107.828 0.005% 573
107.913 0.079% 574
107.916 0.003% 575
107.942 0.024% 576
108.092 0.139% 577
108.002 -0.083% 578
108.152 0.139% 579
108.091 -0.056% 580
108 -0.084% 581
108.048 0.044% 582
107.918 -0.120% 583
108.061 0.133% 584
108.162 0.093% 585
108.093 -0.064% 586
108.076 -0.016% 587
107.975 -0.093% 588
107.95 -0.023% 589
107.931 -0.018% 590
107.989 0.054% 591
108.137 0.137% 592
108.132 -0.005% 593
108.128 -0.004% 594
108.252 0.115% 595
108.325 0.067% 596
108.449 0.114% 597
108.585 0.125% 598
108.626 0.038% 599
108.9 0.252% 600
109.411 0.469% 601
109.662 0.229% 602
109.852 0.173% 603
110.102 0.228% 604
110.435 0.302% 605
110.688 0.229% 606
110.803 0.104% 607
111.08 0.250% 608
110.978 -0.092% 609
111.094 0.105% 610
111.092 -0.002% 611
111.15 0.052% 612
111.203 0.048% 613
111.082 -0.109% 614
111.275 0.174% 615
111.444 0.152% 616
111.683 0.214% 617
111.431 -0.226% 618
111.388 -0.039% 619
111.351 -0.033% 620
111.152 -0.179% 621
111.404 0.227% 622
111.495 0.082% 623
111.707 0.190% 624
111.947 0.215% 625
112.013 0.059% 626
111.809 -0.182% 627
111.826 0.015% 628
111.813 -0.012% 629
111.844 0.028% 630
111.644 -0.179% 631
111.572 -0.064% 632
111.601 0.026% 633
111.381 -0.197% 634
111.441 0.054% 635
111.343 -0.088% 636
111.353 0.009% 637
111.455 0.092% 638
111.468 0.012% 639
111.491 0.021% 640
111.399 -0.083% 641
111.438 0.035% 642
111.475 0.033% 643
111.383 -0.083% 644
111.452 0.062% 645
111.735 0.254% 646
111.976 0.216% 647
112.66 0.611% 648
112.602 -0.051% 649
113.277 0.599% 650
113.385 0.095% 651
113.404 0.017% 652
113.55 0.129% 653
113.582 0.028% 654
113.993 0.362% 655
114.343 0.307% 656
114.608 0.232% 657
114.55 -0.051% 658
114.624 0.065% 659
114.575 -0.043% 660
114.541 -0.030% 661
114.637 0.084% 662
114.582 -0.048% 663
114.589 0.006% 664
114.656 0.058% 665
114.671 0.013% 666
114.706 0.031% 667
114.861 0.135% 668
115.126 0.231% 669
114.701 -0.369% 670
114.637 -0.056% 671
114.163 -0.413% 672
113.423 -0.648% 673
113.679 0.226% 674
113.016 -0.583% 675
112.639 -0.334% 676
112.149 -0.435% 677
112.259 0.098% 678
112.5 0.215% 679
112.749 0.221% 680
112.778 0.026% 681
113.025 0.219% 682
112.971 -0.048% 683
112.661 -0.274% 684
112.584 -0.068% 685
112.328 -0.227% 686
112.169 -0.142% 687
111.84 -0.293% 688
111.901 0.055% 689
112.952 0.939% 690
113.513 0.497% 691
113.331 -0.160% 692
113.348 0.015% 693
113.032 -0.279% 694
112.728 -0.269% 695
112.484 -0.216% 696
112.24 -0.217% 697
112.122 -0.105% 698
112.117 -0.004% 699
112.213 0.086% 700
112.076 -0.122% 701
112.188 0.100% 702
112.19 0.002% 703
112.117 -0.065% 704
112.059 -0.052% 705
111.808 -0.224% 706
111.512 -0.265% 707
-100.000% 708
#DIV/0! 709
#DIV/0! 710
#DIV/0! 711
#DIV/0! 712
#DIV/0! 713
#DIV/0! 714
#DIV/0! 715
#DIV/0! 716
#DIV/0! 717
#DIV/0! 718
#DIV/0! 719
#DIV/0! 720
#DIV/0! 721
#DIV/0! 722
#DIV/0! 723
#DIV/0! 724
#DIV/0! 725
#DIV/0! 726
#DIV/0! 727
#DIV/0! 728
#DIV/0! 729
#DIV/0! 730
#DIV/0! 731
#DIV/0! 732
#DIV/0! 733
#DIV/0! 734
#DIV/0! 735
#DIV/0! 736
#DIV/0! 737
de una opción debido al cambio de un 1% de la volatilidad implícita del
n típica del cambio de precio en porcentaje anual compuesto
stas. Indica cuánto cambiaría el precio de la opción ante un cambio en
Free Cashflow to the Firm (S/. 000)

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
EBIT x (1-t) 340,226 355,159 536,917 649,919 473,625 574,335 461,508 383,373 408,175 425,894
+ Depreciación y amortización 107,758 149,668 182,606 186,170 201,619 256,311 236,901 238,392 240,454 243,753
- Capex -385,829 -273,787 -382,091 -308,503 -165,087 -125,424 -179,058 -211,224 -211,224 -211,224
- ΔNOF -126,517 -187,410 -17,350 -93,942 -72,377 35,881 41,729 -50,903 -49,977 -43,198
FCFF -64,362 43,630 320,082 433,644 437,780 741,103 561,080 359,638 387,428 415,225
Nota:
Tasa de impuesto efectiva 29.80% 32.08% 9.21% 13.47% 33.70% 19.03% 25.17% 24.81% 23.78% 24.33%
Tasa de impuesto legal
EBIT - Ingresos operativos por dividendos de subsidiarias 484,677 522,896 591,389 751,110 714,399 709,313 616,764 509,857 535,541 562,845
g 3.22%
Valor terminal (año 10)
FCL normalizado – 2028 (en miles de soles) 497,463
Valor terminal 2028 (en miles de soles) 6,250,204
WACC 11.43%
Valor patrimonial Miles de soles Peso
VP FCFF 2019 -2028 2,319,826 51.4% 52%
Valor terminal actualizado 2,117,700 47.0% 48%
Caja 29,956 0.7% Supuesto: efectivo 2018
Deuda a valor de mercado -3,279,912 -72.7% Supuesto: deuda a valor de mercado de largo plazo màs deuda a corto plazo
Valor de las subsidiarias 3,322,609 73.7%
Valor patrimonial 4,510,179 100.0%
Nro. Acciones 1,646,503,408
Valor por acción (Valor fundamental) 2.74
2022 2023 2024 2025 2026 2027 2028 2028-Norm.
447,319 463,657 488,478 513,110 539,938 568,793 598,568 598,568
242,848 244,781 246,714 248,574 249,786 250,996 252,206 245,850

-211,224 -211,224 -211,224 -211,224 -431,224 -431,224 -431,224 -277,224
-46,458 -49,770 -52,652 -56,311 -60,416 -64,905 -69,731 -69,731
432,486 447,444 471,315 494,149 298,084 323,659 349,819 497,463
24.43% 25.56% 25.53% 25.77% 25.95% 26.10% 26.40% 26.40%
591,907 622,882 655,941 691,279 729,113 769,689 813,285 813,285 EBIT sin ingresos por dividendos de subsidiarias
SUBSIDIARIAS DE UNACEM AL CIERRE DE 2018
N° Empresas Subsidiarias de UNACEM al cierre de 2018 Actividad económica

1 Inversiones Imbabura S.A. (Unacem Ecuador) Holding
2 Compañía Eléctrica El Platanal S.A. (CELEPSA) Energía
3 Skanon Investments Inc. (Drake Cement) * Cemento y Concreto
4 Cementos Portland S.A.C. Cemento
5 Inversiones en Concreto y Afines S.A. Holding
6 Transportes Lurín S.A. Servicios
7 Staten Island Co. LLC Holding
8 Prefabricados Andinos S.A. Prefabricados
9 Prefabricados Andinos Perú S.A.C. Prefabricados
10 Minera Adelaida S.A. Holding
11 Depósito Aduanero Conchán S.A. Servicios
12 Generación Eléctrica de Atocongo S.A. Servicios
13 Ferrocarril Central Andino S.A. Servicios
Otros
Valor Total
1 EMPRESAS COMPARABLES PARA INVERSIONES IMBABURA SA - UNACEM ECUADOR
Ticker Name
None (7 securities) - LATAM

CLH CB Equity CEMEX LATAM HOLDINGS SA
CEMENT CI Equity CEMENTOS BIO BIO S.A.
MELON CI Equity MELON SA
CMOCTEZ* MM Equity CORP MOCTEZUMA-SER *
GCC* MM Equity GRUPO CEMENTOS CHIHUAHUA
CCC JA Equity CARIBBEAN CEMENT CO LTD
HARG AR Equity HOLCIM ARGENTINA SA
Promedio
3 EMPRESAS COMPARABLES PARA COMPAÑÍA ELÉCTRICA EL PLATANAL S.A. (CELEPSA)
Ticker Name
None (2 securities)
ENGIEC1 PE Equity ENGIE ENERGIA PERU SA
LUSURC1 PE Equity LUZ DEL SUR SAA
Promedio
Páis de ubicación Participación Valor en libros 2018 Participación
Accionaria al 2018 (%) (En Miles de S/) Relativa
Perú (subsidiaria en Ecuador) 99.99% 1,516,724 44%
Perú 90.00% 567,829 17%
Estados Unidos 85.06% 1,026,345 30%
Perú 100.00% 99,496 3%
Perú 93.38% 67,036 2%
Perú 99.99% 64,250 2%
Estados Unidos 100.00% 25,992 1%
Chile 51.00% 20,021 1%
Perú (subsidiaria en Colombia) 50.02% 17,537 1%
Perú 99.99% 3,010 0%
Perú 99.99% 2,783 0%
Perú
Perú (subsidiaria 99.85% 125 0%
en Ecuador) 16.49% 7,567 0%
232 0%
3,418,947 100%
3,390,222
SECTOR CEMENTO Y CONCRETO
País Cap mercado (USD en Ingresos 2018 EV / EBITDA

MM) (USD en MM)
COLOMBIA 633.60 1,108.30 2.47

CHILE 240,309.00 262,569.50 8.33
CHILE 167,672.30 191,347.40 6.64
MEXICO 58,499.20 14,184.30 8.49
MEXICO 1,670.80 883.20 8.36
JAMAICA 35,783.50 17,573.90 8.80
ARGENTINA 20,595.30 12,907.60 9.95
71,510.60 7.58
SECTOR ENERGÍA
País EV/EBITDA EV/EBITDA FY1 EV/EBITDA FY2
PERÚ 6.19 7.49 7.63

PERÚ 7.86 13.20 12.75
7.03 10.34 10.19
Part.Rel. Subsidiarias de UNACEM
Acum.
44% Inversiones Imbabura S.A. (Unacem Ecuador)
61% Compañía Eléctrica El Platanal S.A. (CELEPSA)
91% Skanon Investments Inc. (Drake Cement) **
94% Cementos Portland S.A.C.
96% Inversiones en Concreto y Afines S.A.
98% Transportes Lurín S.A.
99% Staten Island Co. LLC
99% Prefabricados Andinos S.A.
100% Prefabricados Andinos Perú S.A.C.
100% Minera Adelaida S.A.
100% Depósito Aduanero Conchán S.A.
100% Generación Eléctrica de Atocongo S.A.
100% Ferrocarril Central Andino S.A.
100% Otros
- Total
1/ Considerando que Skanon Investments ha registrado cifras negativas y cercanas a cero de EBITDA y EPS en los
Asimismo, se consideró el valor de la empresa como el valor en libros del 2018.
P/E https://economipedia.com/definiciones/valor-de-empresa-ebitda-ev-ebitda.html
8.76
12.15
18.52
13.52
16.24
14.48
13.39
13.87 El valor de empresa entre el EBITDA es un ratio financiero utilizado en la valoración de emp
inglés (entreprise value).
Este ratio muestra el multiplicador del valor de la compañía sobre los recursos que genera
intereses y los impuestos), su tasa impositiva y su política de amortizaciones. Esto es, dete
con los recursos generados y, por tanto, si la gestión de la empresa es superior o inferior a
P/E
9.63
9.89
9.76
Capitalización Bursátil +Deuda
EBITDA EV de la Subsidiaria Deuda Caja
(USD en MM) (En MM de USD) (En MM de USD) (En MM de USD)
63.00 477.32 14.00 2.60
33.00 231.83 78.00 -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
ifras negativas y cercanas a cero de EBITDA y EPS en los últimos 4 años, no se valorizó por comparables.
alor en libros del 2018.
de-empresa-ebitda-ev-ebitda.html
Despejando para encontrar el valor de la empresa

Eterprise Value = EBITDA x (EV / EBITDA) de comparables
tio financiero utilizado en la valoración de empresas por múltiplos. También conocido como EV/EBITDA, por su nomenclatura en
de la compañía sobre los recursos que genera una empresa con independencia de su estructura financiera (por eso se excluyen los
a y su política de amortizaciones. Esto es, determina si la empresa incorpora mayor o menor valor que el directamente relacionado
a gestión de la empresa es superior o inferior a los resultados obtenidos.
Equity Value TC de conversión al 2018
(En Miles de S/) * *
1,532,738.80 3.29 http://www.smv.gob.pe/ConsultasP
455,475.83 * Según UNACEM.
1,026,345 https://www.yc.edu/v5content/budg
99,496 https://unacem.com.ec/wp-content
67,036 http://www.unacem.com/ir/w
64,250
25,992
20,021
17,537
3,010
2,783
125
7,567
232
3,322,608.63
A) de comparables
EBITDA, por su nomenclatura en

financiera (por eso se excluyen los
or que el directamente relacionado
p://www.smv.gob.pe/ConsultasP8/temp/Presentacion%20UNACEM%20-%20Miami%20Mayo%202019.pdf
ps://www.yc.edu/v5content/budget/docs/YCC_CAFR_6-30-14.PDF
ps://unacem.com.ec/wp-content/uploads/2019/05/estados-financieros-2018.pdf
ttp://www.unacem.com/ir/wp-content/uploads/2015/02/Presentacion-unacem-miami-mayo.pdf

EVALUACION UNACEM vf.2

Cargado por

Copyright:

Formatos disponibles

EVALUACION UNACEM vf.2

Cargado por

Información del documento

Título original

Derechos de autor

Formatos disponibles

Compartir este documento

Compartir o incrustar documentos

Opciones para compartir

¿Le pareció útil este documento?

¿Este contenido es inapropiado?

Copyright:

Formatos disponibles

EVALUACION UNACEM vf.2

Cargado por

Copyright:

Formatos disponibles

Unión Andina de Cementos S.A.A.

Estado separado de resultados

Tasa de Impuesto Efectivo 29.4% 29.8% 32.1% 9.2% 13.5%

EBITDA 592,435 672,564 773,995 937,280

33.7% 19.0% 25.2% 26.4% VII

916,018 965,624 853,665 1,235,284

2013 2014 2015 2016 2017 2018 2012

2013 2014 2015 2016 2017 2018

60,951 131,043 54,481 97,704 29,956

Inventarios 2011 2012 2013

Pagarés bancarios - Saldo por acreedor (corriente y no 2011 2012 2013

Bonos corporativos (corriente y no corriente) 2011 2012 2013

Préstamos bancarios (corriente y no corriente) 2,011 2,012 2,013

Total de obligaciones financieras 1,369,367 1,410,504 1,604,440

Concepto 2011 2012 2013

2014 2015 2016 2017 2018

2014 2015 2016 2017 2018

2014 2015 2016 2017 2018

2014 2015 2016 2017 2018

2014 2015 2016 2017 2,018

2,014 2,015 2,016 2,017 2,018

287,202 200,463 114,876 23,701 -

3,361,590 3,332,722 3,158,528 2,940,140 3,041,087

2014 2015 2016 2017 2018

413,992 428,182 463,467 473,083 457,221

2014 2015 2016 2017 2018

2012 2013 2014 2015 2016 2017

2012 2013 2014 2015 2016 2017

Citibank NA New York 189,224 4.26%

UNAC2DBC2A 60,000 5.16% Apoyo: AA 3/8/2013 3/8/2023 10

Banco international del Perú -1 268,727 4.80% 302,541 3/30/2017 3/30/2020 3

Total Bonos y Préstamos 3,062,609

Monto de colocación Pago de Precio Sucio YTM Valor de mercado Cupón

$ 225 Semestral 767,719 5.20% 767,719 804,941

S/ 60 Semestral 60,922 3.88% 60,922 62,963

S/ 60 Semestral 60,962 4.05% 60,962 63,094

Tasa de interés SBS Tasa SBS Tasa de interes Valor de mercado

7.42% -2.62% 5.53% 2.91% 268,727

Deuda total 31/12/2018 -valor contable

8/9/2018 1/1/2019 145.00 122,962.80

(*) Estimación del Precio promedio de venta de cemento 2011 2012

Crecimiento del precio 1.1%

UTILIDAD BRUTA 661,672 731,689

INGRESOS (GASTOS) OPERATIVOS

OTROS INGRESOS (GASTOS)

UITILIDAD ANTES DEL IMPUESTO GANANCIAS 436,887 510,481

Ingreso (Gasto) por Impuesto

UITILIDAD NETA DEL AÑO 308,381 358,340

Utilidad neta por acción básica y diluida

Depreciación + Amortizacion TOTAL 2011 2012

Ingreso por dividendos, nota 24(a) – 2011 2012

2013 2014 2015 2016 2017

-3.3% 1.0% 6.2% 4.8% -0.2%

2013 2014 2015 2016 2017

220,049 242,138 237,829 209,446 214,909

763,437 852,270 839,581 781,765 722,210

2013 2014 2015 2016 2017

12,544 12,238 11,514 9,785 10,091

1,663 20,743 18,459 18,169