PROJECTED RESULTS

OUTLETS 8 196 073 100% 0 100% 0 100%

Accomodation 7806906 0 0

Breakfast 275195 0 0

Seminar 113972 0 0

Commodities and drinks consumed 1 173 000 32% 0 31% 0 31%

Gross profit margin 7 023 073 86% 0 ###### 0 #####

Personal expenses 793 082 10% 0 ###### 0 #####

Taxes 0 0% 0 ###### 0 #####

Overheads excluding rents 1 320 913 16% 0 ###### 0 #####

Gross Operating Result 4 909 078 60% 0 ###### 0 #####

Rents 0 0 0

Credit leasing fees 0 0 0

Borrowing interests 125 000 0 0

Depreciation and amortization 375 000 0 0

Result before tax 4 409 078 € 54% 0 ###### 0 € #####

Taxable result 4 409 078 0 0

Income taxes 1 469 546 0 0

Net profit 2 939 532 36% 0 ###### 0 #####

Depreciation and amortization 0 0 0

Self financing capacity* 2 939 532 36% 0 ###### 0 #####

Borrowing refund 195 736 0 0

Balance Self financing capicity 0 0 0

(*) ou Cash Flow

TO BE FORECASTED

2015 2016 2017

PROJECTED PROFIT FUTURIST HOTEL CONCEPT L'BRASIL'A