boomwichers nv a dutch company financed by shareholders equity only decides during t 600520

Boomwichers NV, a Dutch company financed by shareholders” equity only, decides, during the course of year n, to finance an investment project worth €200m using shareholders” equity (50%) and debt (50%). The loan it takes out (€100m) will be paid off in full in n+5, and the company will pay 5% interest per year over the period. At the end of the period, you are asked to complete the following simplified table (no further investments are to be made):

Period

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n

n+1

n+2

n+3

n+4

n+5

Operating inflows

165

200

240

280

320

36o

Operating outflows

165

175

i8o

185

180

190

Operating cash flows

Investments

-200

Free cash flows

Flows …

… to creditors

. . to shareholders

What do you conclude from the above?

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