team 16 business plan submission (financial appendix)

Key Assumption

1 Currency Convertion

1 $ = 8,552Rp

1 € = 1.48$

1 € = 12,657Rp

2 Inflation Rate

6.70%

3Days, Month and

Year

1 Month = 25 workdays

1 Year = 300 days

4 Price from supplier:

Jatropha seed free (from Indocement Plantation)

Used Oil Rp. 1400/ litre (from restauran chain)

Spiritus Rp. 9500/ litre

5

6

each price assume increasing relative based on inflation

All activity is assumed no account receivable and no

Price for CER is assumed € 17 /tonCO2/year

1 $ = 8,552Rp

1 € = 1.48$

1 € = 12,657Rp

Initial Fee per CDM Project 75,000€ = 111,000$ =

0 1 2 3

Baseline Emission 1,610 1,610 1,610

Project Emission 0 0 0

Leakage 0 0 0

Emission Reduction 1,610 1,610 1,610

Baseline emissionHousehold 2,146

CO2 dari penggunaan minyak tanah per keluarga 0.75 ton/CO2 per year= 300

emission per year 1,610 ton CO2

Project EmissionLuas lahan Jathropa 170 ha = 1,700,000

hasil per m2 0.19 liter/year

Total hasil plant oil 321,970 liter/year

Penggunaan per kepala keluarga per tahun 150 liter/year

Jumlah kepala keluarga yang dapat disupplai 2,146 kepala keluarga

Emission per year 0.00

kebutuhan untuk :

321,970

321,970

321,970

Protos User 1,600 3,300 5,000 6,500

Fuel Suplly needs 240,000 495,000 750,000 975,000

Used Oil needs 300,000 350,000 428,030 653,030

Spiritus requirement/week/household 0.7 litre

Spiritus needs 58,240 120,120 182,000 236,600

949,272,000Rp

4 5

1,610 1,610 tonCO2 per year

0 0 tonCO2 per year

0 0 tonCO2 per year

1,610 1,610 tonCO2 per year

lt/year

m2

8,000

1,200,000 liter/year

878,030 liter/year

291,200 litre/year

1 $ =

1 € =

1 € =

Initial Fee per CDM Project

ERy

fNRB,y

NCVbiomass

EFprojected_fossil_fuel

ƞold

ƞnew

HGpy

Protos User

By

By,saving

1 $ = 8,552Rp

1 € = 1.48$

1 € = 12,657Rp

Initial Fee per CDM Project 75,000€ = 111,000$ = 949,272,000Rp

0 1 2 3 4

ERy 1,722.24 3,552.12 5,382.00 6,996.60

fNRB,y 1.00

NCVbiomass 0.02 TJ/tonnes

EFprojected_fossil_fuel 71.50 tCO2/TJ

ƞold 0.35 25 lt plant oil = 0.23

ƞnew 0.55

HGpy 8,999.99 TJ

1 kwh = 3599,99

Protos User = 1,600 1,700 1,700 1,500

By = 4416.00 4692.00 4692.00 4140.00

By,saving = 1605.818 1706.181818 1706.182 1505.454545

Year

5

8,611.20

tonnes woods

TJ (2.5 Kwh)

1,500 tonnes

4140.00 tonnes

1505.454545 tonnes

Year

1 $ = 8,552Rp

1 € = 1.48$

1 € = 12,657Rp

Initial Fee per CDM Project 75,000€

0

Baseline Emission

Project Emission

Leakage

Emission Reduction

used oil 100 lt

gassoline 1 lt

biodiesel 1 lt

used oil (100%) 1 lt

Suplly needs

Used oil Capacity

Leakage: jarak ke majalengka dari citeureup

(per hari) 120

Total jarak tempuh per tahun 36,000

gassoline

Leakage from program 7

Year

= 111,000$ = 949,272,000Rp

1 2 3 4 5

690 805 984 1,502 2,019 tonCO2 per year

150 175 214 326 438 tonCO2 per year

7 10 15 23 35 tonCO2 per year

533 620 755 1,153 1,547 tonCO2 per year

= 80 biodiesel (liters)

= 2.3 kg CO2

= 0.4991 kg CO2

= 0 kg CO2

240,000 495,000 750,000 975,000 1,200,000 1,200,000 (Lt/year)

300,000 350,000 428,030 653,030 878,030 878,030 (Lt/year)

km

km

1 km = 0.19 kg CO2

ton CO2

Year

05-05-11

10:36 PMBiokraftstoffe 1 $ = 8,552Rp Rp Notes

Revenue Projections inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp

Year 1 Year 2 Year 3 Year 4 Year 5Protos

Sales (unit) 1,600 1,700 1,700 1,500 1,500

Price per unit ($) 20 20 20 20 20

Price per unit (Rp) 171,040 171,040 171,040 171,040 171,040

Total 273,664,000 290,768,000 290,768,000 256,560,000 256,560,000

% of Revenue 8.33% 5.91% 4.49% 2.95% 2.29%

Fuel (Jatropha Oil)

Sales (litres) 321,970 321,970 321,970 321,970 321,970

Price per unit (Rp) 3,500 3,735 3,985 4,252 4,537

Total 1,126,893,939 1,202,395,833 1,282,956,354 1,368,914,430 1,460,631,697

% of Revenue 34.32% 24.43% 19.81% 15.74% 13.06%

Used Oil

Sales (litres) 300,000 350,000 428,030 653,030 878,030

Price per unit (Rp) 3,500 3,735 3,985 4,252 4,537

Total 1,050,000,000 1,307,075,000 1,705,577,271 2,776,480,561 3,983,228,556

% of Revenue 31.98% 26.55% 26.33% 31.93% 35.61%

Spiritus

Sales (litres) 58,240 120,120 182,000 236,600 291,200

Price per unit (Rp) 10,000 10,670 11,385 12,148 12,962

Total 582,400,000 1,281,680,400 2,072,049,980 2,874,140,527 3,774,409,775

% of Revenue 17.74% 26.04% 31.99% 33.06% 33.74%

CER from CDM Project

Project AMS-II.G (tCO2/year) 1,722 3,552 5,382 6,997 8,611

Project AMS-I.G (tCO2/year) 1,610 1,610 1,610 1,610

Project AMS-I.H (tCO2/year) 620 755 1,153 1,547

Price per tCO2/year (€) 17 17 17 17 17

Price per tCO2/year (Rp) 145,384 145,384 145,384 145,384 145,384

Total 250,386,140 840,613,702 1,126,333,210 1,418,861,447 1,710,830,318

% of Revenue 7.63% 17.08% 17.39% 16.32% 15.29%

Net Revenue 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

Revenues by Months & Quarters Sales by Months & Quarters

Months Year 1 Year 2 Year 3 Year 4 Year 5 Protos Jatropha Used oil Spiritus Protos Jatropha Used oil Spiritus Protos Jatropha Used oil Spiritus Protos Jatropha Used oil Spiritus Protos Jatropha Used oil Spiritus

Month 1 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Month 2 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Month 3 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Total 1st Quarter 758,239,485 1,020,479,808 1,337,837,901 1,819,023,880 2,368,707,507 400 80,492 75,000 14,560 425 80,492 87,500 30,030 425 80,492 107,008 45,500 375 80,492 163,258 59,150 375 80,492 219,508 72,800

Month 4 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Month 5 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Month 6 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Total 2nd Quarter 758,239,485 1,020,479,808 1,337,837,901 1,819,023,880 2,368,707,507 400 80,492 75,000 14,560 425 80,492 87,500 30,030 425 80,492 107,008 45,500 375 80,492 163,258 59,150 375 80,492 219,508 72,800

Month 7 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Month 8 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Month 9 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Total 3rd Quarter 758,239,485 1,020,479,808 1,337,837,901 1,819,023,880 2,368,707,507 400 80,492 75,000 14,560 425 80,492 87,500 30,030 425 80,492 107,008 45,500 375 80,492 163,258 59,150 375 80,492 219,508 72,800

Month 10 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Month 11 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Month 12 503,132,635 1,180,773,638 1,572,279,177 2,025,202,740 2,500,399,488 133 26,831 25,000 4,853 142 26,831 29,167 10,010 142 26,831 35,669 15,167 125 26,831 54,419 19,717 125 26,831 73,169 24,267

Total 4th Quarter 1,008,625,625 1,861,093,511 2,464,171,111 3,237,885,326 4,079,537,826 400 80,492 75,000 14,560 425 80,492 87,500 30,030 425 80,492 107,008 45,500 375 80,492 163,258 59,150 375 80,492 219,508 72,800

Total for year 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347 1,600 321,970 300,000 58,240 1,700 321,970 350,000 120,120 1,700 321,970 428,030 182,000 1,500 321,970 653,030 236,600 1,500 321,970 878,030 291,200

0 0 0 0 0 Unit Litres Litres Litres Unit Litres Litres Litres Unit Litres Litres Litres Unit Litres Litres Litres Unit Litres Litres Litres

Average Revenue

by Month 273,612,007 410,211,078 539,807,068 724,579,747 932,138,362

by Quarter 820,836,020 1,230,633,234 1,619,421,204 2,173,739,241 2,796,415,087

Year 3 Year 4 Year 5Year 1 Year 2

05-05-11

10:36 PMBiokraftstoffe 1 $ = 8,552 Rp Notes

Cost of Revenues inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp

Year 1 Year 2 Year 3 Year 4 Year 5

Revenue 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

Cost of Revenue

Protos 42,760

COGM per Unit ($) 50 50 50 50 50

COGM per Unit (Rp) 427,600 427,600 427,600 427,600 427,600

Discount for retail/cooperative ($) 3 3 3 3 3

Discount for retail/cooperative (Rp) 25,656 25,656 25,656 25,656 25,656

Subsidy for user per Unit ($) 15 15 15 15 15

Subsidy for user per Unit (Rp) 128,280 128,280 128,280 128,280 128,280

Transportation cost per unit 200 213 228 0 0

Total Direct Costs per Unit (Rp) 581,736 581,749 581,764 581,536 581,536

Unit Sales 1,600 1,700 1,700 1,500 1,500

Total Direct Costs 930,777,600 988,973,980 988,998,286 872,304,000 872,304,000

% of Revenue 28.35% 20.09% 15.27% 10.03% 7.80%

Gross margin -240% -240% -240% -240% -240%

Jatropha Oil

Price of Jatropha seed from partner 0 0 0 0 0

Processing & Transportation Cost per unit 1,500 1,601 1,708 1,822 1,944

Total Direct Costs per Unit 1,500 1,601 1,708 1,822 1,944

Unit Sales 321,970 321,970 321,970 321,970 321,970

Total Direct Costs 482,954,545 515,312,500 549,838,438 586,677,613 625,985,013

% of Revenue 14.71% 10.47% 8.49% 6.75% 5.60%

Gross margin 57.14% 57.14% 57.14% 57.14% 57.14%

Used Oil

Price of Used Oil from source 1400 1494 1594 1701 1815

Transportation cost from source 200 213 228 243 259

Distribution cost to buyer & consumen 200 213 228 243 259

Filtering cost 10 11 11 12 13

Total Direct Costs per Unit 1810 1931 2061 2199 2346

Unit Sales 300,000 350,000 428,030 653,030 878,030

Total Direct Costs 543,000,000 675,944,500 882,027,103 1,435,837,090 2,059,898,196

% of Revenue 16.54% 13.73% 13.62% 16.51% 18.42%

Gross margin 48.29% 48.29% 48.29% 48.29% 48.29%

Spiritus

Price from supplier 9,500 10,137 10,816 11,540 12,313

Distribution cost 200 213 228 243 259

Total Direct Costs per Unit 9,700 10,350 11,043 11,783 12,573

Unit Sales 58,240 120,120 182,000 236,600 291,200

Total Direct Costs 564,928,000 1,243,229,988 2,009,888,481 2,787,916,311 3,661,177,482

% of Revenue 17.21% 25.26% 31.03% 32.06% 32.73%

Gross margin 3.00% 3.00% 3.00% 3.00% 3.00%

CDM Project

Auditor fee ($) 20,000 20,000 20,000 20,000

Auditor fee (Rp) 171,040,000 171,040,000 171,040,000 171,040,000

Total CDM Project Cost 0 171,040,000 171,040,000 171,040,000 171,040,000

All other costs % of Revenue 0.5% 16,416,720 24,612,665 32,388,424 43,474,785 55,928,302

Total Cost of Revenues 2,538,076,866 3,619,113,633 4,634,180,731 5,897,249,799 7,446,332,993

% of Revenue 77.3% 73.5% 71.5% 67.8% 66.6%

Cost of Revenues by Months & Quarters

(Rp)

Year 1 Year 2 Year 3 Year 4 Year 5Month 1 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Month 2 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Month 3 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Total 1st Quarter 586,131,106 750,270,731 957,098,531 1,233,731,030 1,576,856,825

Month 4 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Month 5 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Month 6 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Total 2nd Quarter 586,131,106 750,270,731 957,098,531 1,233,731,030 1,576,856,825

Month 7 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Month 8 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Month 9 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Total 3rd Quarter 586,131,106 750,270,731 957,098,531 1,233,731,030 1,576,856,825

Month 10 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Month 11 195,377,035 250,090,244 319,032,844 411,243,677 525,618,942

Month 12 388,929,479 868,120,951 1,124,819,449 1,373,569,357 1,664,524,634

Total 4th Quarter 779,683,549 1,368,301,438 1,762,885,137 2,196,056,710 2,715,762,518

Total for year 2,538,076,866 3,619,113,633 4,634,180,731 5,897,249,799 7,446,332,993

05-05-11


Operating Expenses inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp


Net Revenues 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347 Activities Year 1 Year 2 Year 3 Year 4 Year 5

Promotion Activities 58,293,360 60,693,360 60,693,360 55,893,360 55,893,360

Sales & Marketing Marketing tools 2,940,000 2,940,000 2,940,000 2,940,000 2,940,000

Drivers Training for Trainers 900,000 900,000 900,000 900,000 900,000

Salaries and Benefits 118,800,000 126,759,600 135,252,493 144,314,410 153,983,476 Total 62,133,360 64,533,360 64,533,360 59,733,360 59,733,360

Commissions % of Revenue 5.00% 164,167,204 246,126,647 323,884,241 434,747,848 559,283,017

Promotion Activities 58,293,360 60,693,360 60,693,360 55,893,360 55,893,360

Marketing Tools 2,940,000 2,940,000 2,940,000 2,940,000 2,940,000

Training for Trainer 900,000 900,000 900,000 900,000 900,000

Total Sales and Marketing 345,100,564 437,419,607 523,670,094 638,795,619 772,999,853

% of Revenue 10.5% 8.9% 8.1% 7.3% 6.9%

General, Operational & Administration

Drivers Promotion Activity YEAR 1

Salaries and Benefits 423,450,000 451,821,150 490,802,608 523,686,383 568,688,973 Program Period Target buyers (per period) Target buyers (year) Jumlah

Depreciation 64,141,414 5,808,081 8,087,121 10,366,162 10,366,162 Bundling systemRent Office 60,000,000 64,020,000 68,309,340 72,886,066 77,769,432 82,979,984 With Regular promotionUtilities 12,000,000 12,804,000 13,661,868 14,577,213 15,553,886 Cooking competition Every 6 month 25 50 2,000,000

Total General,Op & Administration 559,591,414 534,453,231 580,860,937 621,515,823 672,378,453 Food bazaar in Independence day Once a year 50 50 4,300,000

% of Revenue 17.0% 10.9% 9.0% 7.1% 6.0% Microfinance program Every 4 month 132 396 9,504,000

Membership Every month 3 36 630,000

All other expenses % of Revenue 0.50% 16,416,720 24,612,665 32,388,424 43,474,785 55,928,302 Member get Member Every month 5 60 1,539,360

Total Operating Expenses 921,108,699 996,485,502 1,136,919,455 1,303,786,227 1,501,306,608 1600 buyers 58,293,360

% of Revenue 28.1% 20.2% 17.6% 15.0% 13.4% YEAR 2

Program Period Target buyers (per period) Target buyers (year) Jumlah

Allocation of Operating Expenses between: Bundling system Every month 84 1008 40,320,000

Variable 781,127,284 910,013,421 1,043,021,126 1,202,116,786 1,393,777,128 With Regular promotion% of Total Operating Expense 85.16% 91.68% 92.05% 92.47% 93.08% Cooking competition Every 6 month 25 50 2,000,000

Fixed 136,141,414 82,632,081 90,058,329 97,829,441 103,689,480 Food bazaar in Independence day Once a year 50 50 4,300,000

% of Total Operating Expense 14.84% 8.32% 7.95% 7.53% 6.92% Microfinance program Every 4 month 165 496 11,904,000

Total 917,268,699 992,645,502 1,133,079,455 1,299,946,227 1,497,466,608 Membership Every month 3 36 630,000

Member get Member Every month 5 60 1,539,360

TOTAL NUMBER OF BUYERS YEAR 2 1700 buyers60,693,360

40,320,000 Every month 84 1008

TOTAL NUMBER OF BUYERS YEAR 1

05-05-11

10:36 PMSales & Marketing by Months & Quarters YEAR 3

(Rp) Program Period Target buyers (per period) Target buyers (year) Jumlah

Year 1 Year 2 Year 3 Year 4 Year 5 Bundling system Every month 84 1008 40,320,000

Month 1 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 With Regular promotionMonth 2 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 Cooking competition Every 6 month 25 50 2,000,000

Month 3 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 Food bazaar in Independence day Once a year 50 50 4,300,000

Total 1st Quarter 79,695,843 90,680,526 108,153,718 133,638,900 163,692,665 Microfinance program Every 4 month 165 496 11,904,000

Month 4 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 Membership Every month 3 36 630,000

Month 5 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 Member get Member Every month 5 60 1,539,360

Month 6 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222TOTAL NUMBER OF BUYERS YEAR 3 1700 buyers

60,693,360

Total 2nd Quarter 79,695,843 90,680,526 108,153,718 133,638,900 163,692,665 YEAR 4

Month 7 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 Program Period Target buyers (per period) Target buyers (year) Jumlah

Month 8 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 Bundling system Every month 84 1008 40,320,000

Month 9 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 With Regular promotionTotal 3rd Quarter 79,695,843 90,680,526 108,153,718 133,638,900 163,692,665 Cooking competition Every 6 month 25 50 2,000,000


Month 11 26,565,281 30,226,842 36,051,239 44,546,300 54,564,222 Microfinance program Every 4 month 98 296 7,104,000


Total 4th Quarter 106,013,035 165,378,028 199,208,939 237,878,919 281,921,857 Member get Member Every month 5 60 1,539,360

Total for year 345,100,564 437,419,607 523,670,094 638,795,619 772,999,853TOTAL NUMBER OF BUYERS YEAR 3 1500 buyers

55,893,360

YEAR 5

Program Period Target buyers (per period) Target buyers (year) Jumlah

General,Operational and Administrative by Months & Quarters Bundling system Every month 84 1008 40,320,000

(Rp) With Regular promotion

Year 1 Year 2 Year 3 Year 4 Year 5 Cooking competition Every 6 month 25 50 2,000,000


Month 2 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596 Microfinance program Every 4 month 98 296 7,104,000


Total 1st Quarter 129,229,315 110,796,360 119,965,358 130,023,890 142,384,789 Member get Member Every month 5 60 1,539,360

Month 4 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596TOTAL NUMBER OF BUYERS YEAR 3 1500 buyers

55,893,360

Month 5 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596

Month 6 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596

Total 2nd Quarter 129,229,315 110,796,360 119,965,358 130,023,890 142,384,789

Month 7 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596

Month 8 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596

Month 9 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596

Total 3rd Quarter 129,229,315 110,796,360 119,965,358 130,023,890 142,384,789

Month 10 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596

Month 11 43,076,438 36,932,120 39,988,453 43,341,297 47,461,596

Month 12 85,750,593 128,199,911 140,987,958 144,761,562 150,300,893

Total 4th Quarter 171,903,470 202,064,151 220,964,863 231,444,155 245,224,086

Total for year 559,591,414 534,453,231 580,860,937 621,515,823 672,378,453

05-05-11

10:36 PM

Biokraftstoffe 1 $ = 8,552 Rp Notes

Personnel inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp


Net Revenues 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

Sales & Marketing

Marketing Manager 36,000,000 38,412,000 40,985,604 43,731,639 46,661,659

Customer service 9,000,000 9,603,000 10,246,401 10,932,910 11,665,415

Tech support 18,000,000 19,206,000 20,492,802 21,865,820 23,330,830

Sales Person 45,000,000 48,015,000 51,232,005 54,664,549 58,327,074

Total Salary 108,000,000 115,236,000 122,956,812 131,194,918 139,984,978

Benefits

Percent (%) 10% 10% 10% 10% 10%

Total benefit costs 10,800,000 11,523,600 12,295,681 13,119,492 13,998,498

Total S & M Compensation 118,800,000 126,759,600 135,252,493 144,314,410 153,983,476

% of Revenue 3.6% 2.6% 2.1% 1.7% 1.4%

General & Administration

Chief Executive Officer 48,000,000 51,216,000 54,647,472 58,308,853 62,215,546

Chief Financial Officer 36,000,000 38,412,000 40,985,604 43,731,639 46,661,659

HR Manager 36,000,000 38,412,000 40,985,604 43,731,639 46,661,659

HR Staff 21,000,000 22,407,000 23,908,269 25,510,123 27,219,301

Accounting 42,000,000 44,814,000 47,816,538 51,020,246 54,438,603

Clerks and admin personnel 42,000,000 44,814,000 47,816,538 51,020,246 54,438,603

Total Salary 225,000,000 240,075,000 256,160,025 273,322,747 291,635,371

Benefits

Percent (%) 10% 10% 10% 10% 10%


Total G & A Compensation 247,500,000 264,082,500 281,776,028 300,655,021 320,798,908

% of Revenue 7.5% 5.4% 4.3% 3.5% 2.9%

05-05-11

10:36 PM

Cost of Revenue

Operational

Operations Manager 36,000,000 38,412,000 40,985,604 43,731,639 46,661,659

Staff 63,000,000 67,221,000 71,724,807 76,530,369 81,657,904

Labor 54,000,000 57,618,000 61,478,406 65,597,459 69,992,489

Total Salary 153,000,000 163,251,000 174,188,817 185,859,468 198,312,052

Benefits

Percent (%) 15% 15% 20% 20% 25%


Total Salary Costs 175,950,000 187,738,650 209,026,580 223,031,361 247,890,065

Total COR's Compensation 175,950,000 187,738,650 209,026,580 223,031,361 247,890,065

% of Revenue 5.4% 3.8% 3.2% 2.6% 2.2%

Total Salary & Wages 486,000,000 518,562,000 553,305,654 590,377,133 629,932,401

Total Benefits 56,250,000 60,018,750 72,749,447 77,623,660 92,740,048

Total Compensation 542,250,000 578,580,750 626,055,101 668,000,793 722,672,449

% of Revenue 16.5% 11.8% 9.7% 7.7% 6.5%

05-05-11


Taxes inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp


Net Revenues 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

Income Tax (Rate Federal & State) 10% 10% 10% 10% 10%

Net Earnings Before Taxes (203,690,669) 295,586,960 698,600,412 1,489,702,863 2,238,020,746

Cumulative (203,690,669) 91,896,290 790,496,702 2,280,199,565 4,518,220,311

Taxes 0 (29,558,696) (69,860,041) (148,970,286) (223,802,075)

Percent of Revenues 0.0% -0.6% -1.1% -1.7% -2.0%

05-05-11

10:36 PM

Biokraftstoffe 1 $ = 8,552 Rp

Property and Equipment inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp

Year 0 Year 1 Year 2 Year 3 Year 4 Year 5Purchased

Net Revenues Assets 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

Capital Expenditures

Prepaid Rent of Depo & Office 60,000,000

Oil Drum (100 litre capacity) 25,915,404 15,498,737 16,666,667 22,790,404 22,790,404

Oil Galon (5 litre capacity) 10,000,000

Peeling Machine 20,000,000

Filtering Machine 5,000,000

Press Machine 20,000,000

Other Equipment 1,000,000

Total Capital Expenditures 141,915,404 15,498,737 16,666,667 22,790,404 22,790,404 0

% of Revenue 0.5% 0.3% 0.4% 0.3% 0.0%

Depreciation on Rent of Depo & Office (allocated to Cost of Revenue)

Depreciation Rate: Years 1 1 1 1 1 1

Year 0 60,000,000 0 0 0 0

Year 1 0 0 0 0 0

Year 2 0 0 0 0

Year 3 0 0 0

Year 4 0 0

Year 5 0

Total Depreciation 60,000,000 0 0 0 0

Depreciation Oil Drum and Depo Equipment (allocated to Cost of Revenue)


Year 0 2,591,540 2,591,540 2,591,540 2,591,540 2,591,540

Year 1 1,549,874 1,549,874 1,549,874 1,549,874 1,549,874

Year 2 1,666,667 1,666,667 1,666,667 1,666,667

Year 3 2,279,040 2,279,040 2,279,040

Year 4 2,279,040 2,279,040

Year 5 0

Total Depreciation 4,141,414 5,808,081 8,087,121 10,366,162 10,366,162

Depreciation Office Utilities (allocated to General & Administrative Expenses)


Year 0 1,000,000 0 0 0 0

Year 1 0 0 0 0 0

Year 2 0 0 0 0

Year 3 0 0 0

Year 4 0 0

Year 5 0

Total Depreciation 1,000,000 0 0 0 0

Total Depreciation 65,141,414 5,808,081 8,087,121 10,366,162 10,366,162

% of Revenue 2.0% 0.1% 0.1% 0.1% 0.1%

Property & Equipment

Gross Asset Value 141,915,404 157,414,141 174,080,808 196,871,212 219,661,616 219,661,616

Accumulated Depreciation 65,141,414 70,949,495 79,036,616 89,402,778 99,768,939

Net Property and Equipment 141,915,404 92,272,727 103,131,313 117,834,596 130,258,838 119,892,677

% of Revenue 2.8% 2.1% 1.8% 1.5% 1.1%

Capital Expenditures by Months & Quarters

(Rp)

Year 1 Year 2 Year 3 Year 4 Year 5Month 1 15,498,737

Month 2

Month 3

Total 1st Quarter 15,498,737 0 0 0 0

Month 4

Month 5

Month 6

Total 2nd Quarter 0 0 0 0 0

Month 7

Month 8

Month 9

Total 3rd Quarter 0 0 0 0 0

Month 10

Month 11

05-05-11

10:36 PM

Month 12

Total 4th Quarter 0 0 0 0 0

Total for year 15,498,737 0 0 0 0

05-05-11

10:36 PM

Notes

05-05-11


Working Capital inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp


Net Revenues 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

Accounts Receivable

% of Revenue

Days Outstanding 0 0 0 0 0

Accounts Receivable 0 0 0 0 0

(Increase)/Decrease from Prev. Period 0 0 0 0 0

Inventory

% of Revenue

Inventory Turns 0 0 0 0 0

Inventory Days 0 0 0 0 0

Inventory 0 0 0 0 0


Other Current Assets

% of Revenue

Days 0 0 0 0 0

Other CA Value 0 0 0 0 0


Accounts Payable & Accrued Expenses

% of Revenue

Days 0 0 0 0 0

AP & Accrued Value 0 0 0 0 0

Increase/(Decrease) from Prev. Period 0 0 0 0 0

Other Current Liabilites

% of Revenue 0.0% 0.0% 0.0% 0.0% 0.0%

Days 0 0 0 0 0

Other Current Liabilities 0 0 0 0 0

Increase/(Decrease) from Prev. Period 0 0 0 0 0

Net Working Capital 0 0 0 0 0

Revenues by Months & Quarters

(Rp)

Year 1 Year 2 Year 3 Year 4 Year 5Month 1 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Month 2 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Month 3 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Total 1st Quarter 758,239,485 1,020,479,808 1,337,837,901 1,819,023,880 2,368,707,507

Month 4 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Month 5 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Month 6 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Total 2nd Quarter 758,239,485 1,020,479,808 1,337,837,901 1,819,023,880 2,368,707,507

Month 7 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Month 8 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Month 9 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Total 3rd Quarter 758,239,485 1,020,479,808 1,337,837,901 1,819,023,880 2,368,707,507

Month 10 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Month 11 252,746,495 340,159,936 445,945,967 606,341,293 789,569,169

Month 12 503,132,635 1,180,773,638 1,572,279,177 2,025,202,740 2,500,399,488

Total 4th Quarter 1,008,625,625 1,861,093,511 2,464,171,111 3,237,885,326 4,079,537,826

Total for year 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

Accounts Receivable by Months & Quarters

(Rp)


Month 1 - - - - -

Month 2 - - - - -

Month 3 - - - - -

Month 4 - - - - -

Month 5 - - - - -

Month 6 - - - - -

Month 7 - - - - -

Month 8 - - - - -

Month 9 - - - - -

Month 10 - - - - -

Month 11 - - - - -

Month 12 - - - - -

Inventory by Months & Quarters

(Rp)

Year 1 Year 2 Year 3 Year 4 Year 5Month 1 - - - - -

Month 2 - - - - -

Month 3 - - - - -

Month 4 - - - - -

Month 5 - - - - -

Month 6 - - - - -

Month 7 - - - - -

Month 8 - - - - -

Month 9 - - - - -

Month 10 - - - - -

Month 11 - - - - -

05-05-11

10:36 PM

Month 12 - - - - -

Other Current Assets by Months & Quarters

(Rp)


Month 2 - - - - -

Month 3 - - - - -

Month 4 - - - - -

Month 5 - - - - -

Month 6 - - - - -

Month 7 - - - - -

Month 8 - - - - -

Month 9 - - - - -

Month 10 - - - - -

Month 11 - - - - -

Month 12 - - - - -

05-05-11

10:36 PMAccounts Payble & Accrued Expenses by Months & Quarters

(Rp)


Month 2 - - - - -

Month 3 - - - - -

Month 4 - - - - -

Month 5 - - - - -

Month 6 - - - - -

Month 7 - - - - -

Month 8 - - - - -

Month 9 - - - - -

Month 10 - - - - -

Month 11 - - - - -

Month 12 - - - - -

Other Current Liabilities by Months & Quarters

(Rp)


Month 2 - - - - -

Month 3 - - - - -

Month 4 - - - - -

Month 5 - - - - -

Month 6 - - - - -

Month 7 - - - - -

Month 8 - - - - -

Month 9 - - - - -

Month 10 - - - - -

Month 11 - - - - -

Month 12 - - - - -

05-05-11

10:36 PMBiokraftstoffe 1 $ = 8,552 Rp

Funding Projections inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp

Property & Equipment

Gross Asset Value 141,915,404 157,414,141 174,080,808 196,871,212 219,661,616 219,661,616

Accumulated Depreciation 65,141,414 70,949,495 79,036,616 89,402,778 99,768,939

Net Property and Equipment 141,915,404 92,272,727 103,131,313 117,834,596 130,258,838 119,892,677

% of Revenue 12.42% 11.59% 7.66% 6.93% 5.48%

Begin Year 1 Year 2 Year 3 Year 4 Year 5

Beginning Cash 50,000,000

Equity

Common 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000

Increase / (Decrease) Previous Period 0 0 0 0 0

Total Equity 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000

Debt

Short Term Debt 150,000,000

Increase / (Decrease) Previous Period 150,000,000 (150,000,000) 0 0 0

Long Term Debt

Current Portion 39,368,714 39,368,714 39,368,714 39,368,714 39,368,714

Long Term Portion 141,915,404 119,576,538 94,557,009 66,535,136 35,150,638 0

Total Long Term Debt 141,915,404 119,576,538 94,557,009 66,535,136 35,150,638 0

Increase / (Decrease) Previous Period

Current Portion 0 0 0 0 0

Long Term Portion (22,338,866) (25,019,530) (28,021,873) (31,384,498) (35,150,638)

Total Long Term Debt 141,915,404 (22,338,866) (25,019,530) (28,021,873) (31,384,498) (35,150,638)

Total Equity & Debt 191,915,404 319,576,538 144,557,009 116,535,136 85,150,638 50,000,000

Partnership Contribution

BSH (European Charity Program) 1,898,544,000

Indocement (Heidelberg Cement Group)

Shell Foundation (Indonesia) 949,272,000

Total Partnership Contribution 949,272,000 1,898,544,000 0 0 0 0

Interest

Interest Rate

Short Term Debt 9.0% 9.0% 9.0% 9.0% 9.0%

Long Term Debt 12.0% 12.0% 12.0% 12.0% 12.0%

Interest Expense

Short Term Debt 13,500,000 0 0 0 0

Long Term Debt 14,349,185 11,346,841 7,984,216 4,218,077 0

Total Interest 27,849,185 11,346,841 7,984,216 4,218,077 0

Interest Income

Interest Rate 4.0% 4.0% 4.0% 4.0% 4.0%

Interest Income 0 0 0 0 0

Retained Earnings

Net Income (203,690,669) 266,028,264 628,740,371 1,340,732,576 2,014,218,671

Dividends

Increase / (Decrease) Retained Earnings (203,690,669) 266,028,264 628,740,371 1,340,732,576 2,014,218,671

Beginning Retained Earnings 0 (203,690,669) 62,337,594 691,077,965 2,031,810,542

Ending Retained Earnings (203,690,669) 62,337,594 691,077,965 2,031,810,542 4,046,029,213

Cost of Debt 21.00%

Cost of Equity 0.00%

Cost of Capital 21.00%

05-05-11


Income Statement inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp


NET REVENUES 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

COST OF REVENUE 2,538,076,866 3,619,113,633 4,634,180,731 5,897,249,799 7,446,332,993

% of Revenues 77.3% 73.5% 71.5% 67.8% 66.6%

GROSS PROFIT 745,267,214 1,303,419,303 1,843,504,084 2,797,707,166 3,739,327,354

% of Revenues 22.7% 26.5% 28.5% 32.2% 33.4%

OPERATING EXPENSES

Sales & Marketing 345,100,564 437,419,607 523,670,094 638,795,619 772,999,853

General and Administration 559,591,414 534,453,231 580,860,937 621,515,823 672,378,453

All other expenses 16,416,720 24,612,665 32,388,424 43,474,785 55,928,302

Total Operating Expenses 921,108,699 996,485,502 1,136,919,455 1,303,786,227 1,501,306,608

% of Revenues 28.05% 20.24% 17.55% 14.99% 13.42%

EARNINGS BEFORE INTEREST & TAXES (175,841,485) 306,933,801 706,584,628 1,493,920,939 2,238,020,746

INTEREST INCOME / (EXPENSE) (27,849,185) (11,346,841) (7,984,216) (4,218,077) (0)

NET EARNINGS BEFORE TAXES (203,690,669) 295,586,960 698,600,412 1,489,702,863 2,238,020,746

TAXES 0 (29,558,696) (69,860,041) (148,970,286) (223,802,075)

NET EARNINGS (203,690,669) 266,028,264 628,740,371 1,340,732,576 2,014,218,671

% of Revenues -6.2% 5.4% 9.7% 15.4% 18.0%

05-05-11

10:36 PMBiokraftstoffe 1 $ = 8,552

Balance Sheet inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657

Begin Year 1 Year 2 Year 3

ASSETS

CURRENT ASSETS

Cash 50,000,000 23,613,142 103,763,290 689,778,505

Accounts Receivable 0 0 0

Inventories 0 0 0

Other Current Assets 0 0 0

Total Current Assets 50,000,000 23,613,142 103,763,290 689,778,505

PROPERTY & EQUIPMENT 141,915,404 92,272,727 103,131,313 117,834,596

TOTAL ASSETS 191,915,404 115,885,869 206,894,603 807,613,101

LIABILITIES & SHAREHOLDERS' EQUITY

CURRENT LIABILITIES

Short Term Debt 0 150,000,000 0 0

Accounts Payable & Accrued Expen 0 0 0

Other Current Liab 0 0 0

Total Current Liabilities 0 150,000,000 0 0

LONG TERM DEBT 141,915,404 119,576,538 94,557,009 66,535,136

STOCKHOLDERS' EQUITY

Capital 50,000,000 50,000,000 50,000,000 50,000,000

Retained Earnings (203,690,669) 62,337,594 691,077,965

Total Equity 50,000,000 (153,690,669) 112,337,594 741,077,965

TOTAL LIABILITIES & EQUITY 191,915,404 115,885,869 206,894,603 807,613,101

0 0 0 0

05-05-11

10:36 PMRp

Rp

Year 4 Year 5

1,986,702,341 3,976,136,536

0 0

0 0

0 0

1,986,702,341 3,976,136,536

130,258,838 119,892,677

2,116,961,179 4,096,029,213

0 0

0 0

0 0

0 0

35,150,638 0

50,000,000 50,000,000

2,031,810,542 4,046,029,213

2,081,810,542 4,096,029,213

2,116,961,179 4,096,029,213

0 0

05-05-11


Cash Flow Statememt inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp

Begin Year 1 Year 2 Year 3 Year 4OPERATING ACTIVITIES

Net Earnings (203,690,669) 266,028,264 628,740,371 1,340,732,576

Depreciation 65,141,414 5,808,081 8,087,121 10,366,162

Working Capital Changes

(Increase)/Decrease Accounts Receivable 0 0 0 0

(Increase)/Decrease Inventories 0 0 0 0

(Increase)/Decrease Other Current Assets 0 0 0 0

Increase/(Decrease) Accts Pay & Accrd Expenses 0 0 0 0

Increase/(Decrease) Other Current Liab 0 0 0 0

Net Cash Provided/(Used) by Operating Activities (138,549,255) 271,836,345 636,827,492 1,351,098,738

INVESTING ACTIVITIES

Property & Equipment (141,915,404) (15,498,737) (16,666,667) (22,790,404) (22,790,404)

Initial Fee for CDM Project

Project AMS-II.G (949,272,000)

Project AMS-I.G (949,272,000)

Project AMS-I.H (949,272,000)

Net Cash Used in Investing Activities (1,091,187,404) (1,914,042,737) (16,666,667) (22,790,404) (22,790,404)

FINANCING ACTIVITIES

Increase/(Decrease) Short Term Debt 150,000,000 (150,000,000) 0 0

Increase/(Decrease) Long Term Debt 141,915,404 (22,338,866) (25,019,530) (28,021,873) (31,384,498)

Increase/(Decrease) Owner's Capital 50,000,000 0 0 0 0

Increase/(Decrease) Partnership Contribution 949,272,000 1,898,544,000 0 0 0

Dividends Declared 0 0 0 0

Net Cash Provided / (Used) by Financing 1,141,187,404 2,026,205,134 (175,019,530) (28,021,873) (31,384,498)

INCREASE/(DECREASE) IN CASH 50,000,000 (26,386,858) 80,150,148 586,015,215 1,296,923,836

CASH AT BEGINNING OF YEAR 50,000,000 23,613,142 103,763,290 689,778,505

CASH AT END OF YEAR 50,000,000 23,613,142 103,763,290 689,778,505 1,986,702,341

(1,091,187,404) 23,613,142 103,763,290 689,778,505 1,986,702,341

NPV 1,527,558,148

IRR 53%

MIRR 44%

05-05-11

10:36 PM

Year 5

2,014,218,671

10,366,162

0

0

0

0

0

2,024,584,833

0

0

0

(35,150,638)

0

0

0

(35,150,638)

1,989,434,195

1,986,702,341

3,976,136,536

3,976,136,536

05-05-11

10:36 PMBiokraftstoffeIncome Statements

5 Years by Months & Quarters

(Rp)

BiokraftstoffeIncome Statement Year 1

Year 1 by Months Total Annual

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 12 Months Projection

NET REVENUES 252,746,495 252,746,495 252,746,495 252,746,495 252,746,495 252,746,495 252,746,495 252,746,495 252,746,495 252,746,495 252,746,495 503,132,635 3,283,344,080 3,283,344,080

COST OF REVENUE 195,377,035 195,377,035 195,377,035 195,377,035 195,377,035 195,377,035 195,377,035 195,377,035 195,377,035 195,377,035 195,377,035 388,929,479 2,538,076,866 2,538,076,866

GROSS PROFIT 57,369,460 57,369,460 57,369,460 57,369,460 57,369,460 57,369,460 57,369,460 57,369,460 57,369,460 57,369,460 57,369,460 114,203,156 745,267,214 745,267,214

OPERATING EXPENSES

Sales & Marketing 26,565,281 26,565,281 26,565,281 26,565,281 26,565,281 26,565,281 26,565,281 26,565,281 26,565,281 26,565,281 26,565,281 52,882,473 345,100,564 345,100,564

General and Administration 43,076,438 43,076,438 43,076,438 43,076,438 43,076,438 43,076,438 43,076,438 43,076,438 43,076,438 43,076,438 43,076,438 85,750,593 559,591,414 559,591,414

All other expenses 1,368,060 1,368,060 1,368,060 1,368,060 1,368,060 1,368,060 1,368,060 1,368,060 1,368,060 1,368,060 1,368,060 1,368,060 16,416,720

Total Operating Expenses 71,009,779 71,009,779 71,009,779 71,009,779 71,009,779 71,009,779 71,009,779 71,009,779 71,009,779 71,009,779 71,009,779 140,001,127 921,108,699 921,108,699

EARNINGS BEFORE INTEREST & TAXES (13,640,319) (13,640,319) (13,640,319) (13,640,319) (13,640,319) (13,640,319) (13,640,319) (13,640,319) (13,640,319) (13,640,319) (13,640,319) (25,797,970) (175,841,485) (175,841,485)

INTEREST INCOME / (EXPENSE) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (2,320,765) (27,849,185) (27,849,185)

NET EARNINGS BEFORE TAXES (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (28,118,736) (203,690,669) (203,690,669)

TAXES 0 0 0 0 0 0 0 0 0 0 0 0 0 0

NET EARNINGS (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (28,118,736) (203,690,669) (203,690,669)




NET REVENUES 340,159,936 340,159,936 340,159,936 340,159,936 340,159,936 340,159,936 340,159,936 340,159,936 340,159,936 340,159,936 340,159,936 1,180,773,638 4,922,532,936 4,922,532,936

COST OF REVENUE 250,090,244 250,090,244 250,090,244 250,090,244 250,090,244 250,090,244 250,090,244 250,090,244 250,090,244 250,090,244 250,090,244 868,120,951 3,619,113,633 3,619,113,633

GROSS PROFIT 90,069,692 90,069,692 90,069,692 90,069,692 90,069,692 90,069,692 90,069,692 90,069,692 90,069,692 90,069,692 90,069,692 312,652,688 1,303,419,303 1,303,419,303

OPERATING EXPENSES

Sales & Marketing 30,226,842 30,226,842 30,226,842 30,226,842 30,226,842 30,226,842 30,226,842 30,226,842 30,226,842 30,226,842 30,226,842 104,924,344 437,419,607 437,419,607


All other expenses 2,051,055 2,051,055 2,051,055 2,051,055 2,051,055 2,051,055 2,051,055 2,051,055 2,051,055 2,051,055 2,051,055 2,051,055 24,612,665 24,612,665

Total Operating Expenses 69,210,017 69,210,017 69,210,017 69,210,017 69,210,017 69,210,017 69,210,017 69,210,017 69,210,017 69,210,017 69,210,017 235,175,311 996,485,502 996,485,502

EARNINGS BEFORE INTEREST & TAXES 20,859,675 20,859,675 20,859,675 20,859,675 20,859,675 20,859,675 20,859,675 20,859,675 20,859,675 20,859,675 20,859,675 77,477,377 306,933,801 306,933,801

INTEREST INCOME / (EXPENSE) (945,570) (945,570) (945,570) (945,570) (945,570) (945,570) (945,570) (945,570) (945,570) (945,570) (945,570) (945,570) (11,346,841) (11,346,841)

NET EARNINGS BEFORE TAXES 19,914,105 19,914,105 19,914,105 19,914,105 19,914,105 19,914,105 19,914,105 19,914,105 19,914,105 19,914,105 19,914,105 76,531,807 295,586,960 295,586,960

TAXES (2,463,225) (2,463,225) (2,463,225) (2,463,225) (2,463,225) (2,463,225) (2,463,225) (2,463,225) (2,463,225) (2,463,225) (2,463,225) (2,463,225) (29,558,696) (29,558,696)

NET EARNINGS 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 74,068,582 266,028,264 266,028,264




NET REVENUES 445,945,967 445,945,967 445,945,967 445,945,967 445,945,967 445,945,967 445,945,967 445,945,967 445,945,967 445,945,967 445,945,967 1,572,279,177 6,477,684,815 6,477,684,815

COST OF REVENUE 319,032,844 319,032,844 319,032,844 319,032,844 319,032,844 319,032,844 319,032,844 319,032,844 319,032,844 319,032,844 319,032,844 1,124,819,449 4,634,180,731 4,634,180,731

GROSS PROFIT 126,913,123 126,913,123 126,913,123 126,913,123 126,913,123 126,913,123 126,913,123 126,913,123 126,913,123 126,913,123 126,913,123 447,459,728 1,843,504,084 1,843,504,084

OPERATING EXPENSES

Sales & Marketing 36,051,239 36,051,239 36,051,239 36,051,239 36,051,239 36,051,239 36,051,239 36,051,239 36,051,239 36,051,239 36,051,239 127,106,460 523,670,094 523,670,094


All other expenses 2,699,035 2,699,035 2,699,035 2,699,035 2,699,035 2,699,035 2,699,035 2,699,035 2,699,035 2,699,035 2,699,035 2,699,035 32,388,424 32,388,424

Total Operating Expenses 78,738,727 78,738,727 78,738,727 78,738,727 78,738,727 78,738,727 78,738,727 78,738,727 78,738,727 78,738,727 78,738,727 270,793,453 1,136,919,455 1,136,919,455

EARNINGS BEFORE INTEREST & TAXES 48,174,396 48,174,396 48,174,396 48,174,396 48,174,396 48,174,396 48,174,396 48,174,396 48,174,396 48,174,396 48,174,396 176,666,274 706,584,628 706,584,628

INTEREST INCOME / (EXPENSE) (665,351) (665,351) (665,351) (665,351) (665,351) (665,351) (665,351) (665,351) (665,351) (665,351) (665,351) (665,351) (7,984,216) (7,984,216)

NET EARNINGS BEFORE TAXES 47,509,044 47,509,044 47,509,044 47,509,044 47,509,044 47,509,044 47,509,044 47,509,044 47,509,044 47,509,044 47,509,044 176,000,923 698,600,412 698,600,412

TAXES (4,750,904) (4,750,904) (4,750,904) (4,750,904) (4,750,904) (4,750,904) (4,750,904) (4,750,904) (4,750,904) (4,750,904) (4,750,904) (17,600,092) (69,860,041) (69,860,041)

NET EARNINGS 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 158,400,831 628,740,371 628,740,371

BiokraftstoffeIncome Statement Year 3 Year 4 Year 5

Years 3, 4 & 5 by Quarters Annual Annual Annual

Year 5 Projection Projection Projection1st Qtr 2nd Qrtr 3rd Qrtr 4th Qrtr Total 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Total 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Total

NET REVENUES 1,337,837,901 1,337,837,901 1,337,837,901 2,464,171,111 6,477,684,815 1,819,023,880 1,819,023,880 1,819,023,880 3,237,885,326 8,694,956,965 2,368,707,507 2,368,707,507 2,368,707,507 4,079,537,826 11,185,660,347 6,477,684,815 8,694,956,965 ############

0 0 0

COST OF REVENUE 957,098,531 957,098,531 957,098,531 1,762,885,137 4,634,180,731 1,233,731,030 1,233,731,030 1,233,731,030 2,196,056,710 5,897,249,799 1,576,856,825 1,576,856,825 1,576,856,825 2,715,762,518 7,446,332,993 4,634,180,731 5,897,249,799 7,446,332,993

GROSS PROFIT 380,739,370 380,739,370 380,739,370 701,285,974 1,843,504,084 585,292,850 585,292,850 585,292,850 1,041,828,616 2,797,707,166 791,850,682 791,850,682 791,850,682 1,363,775,308 3,739,327,354 1,843,504,084 2,797,707,166 3,739,327,354

OPERATING EXPENSES

Sales & Marketing 108,153,718 108,153,718 108,153,718 199,208,939 523,670,094 133,638,900 133,638,900 133,638,900 237,878,919 638,795,619 163,692,665 163,692,665 163,692,665 281,921,857 772,999,853 523,670,094 638,795,619 772,999,853

General and Administration 119,965,358 119,965,358 119,965,358 220,964,863 580,860,937 130,023,890 130,023,890 130,023,890 231,444,155 621,515,823 142,384,789 142,384,789 142,384,789 245,224,086 672,378,453 580,860,937 621,515,823 672,378,453

Total Operating Expenses 228,119,076 228,119,076 228,119,076 420,173,802 1,104,531,031 263,662,790 263,662,790 263,662,790 469,323,073 1,260,311,442 306,077,454 306,077,454 306,077,454 527,145,943 1,445,378,306 1,136,919,455 1,303,786,227 1,501,306,608

EARNINGS BEFORE INTEREST & TAXES 152,620,293 152,620,293 152,620,293 281,112,172 738,973,052 321,630,060 321,630,060 321,630,060 572,505,543 1,537,395,724 485,773,228 485,773,228 485,773,228 836,629,365 2,293,949,048 706,584,628 1,493,920,939 2,238,020,746

INTEREST INCOME / (EXPENSE) (1,996,054) (1,996,054) (1,996,054) (1,996,054) (7,984,216) (1,054,519) (1,054,519) (1,054,519) (1,054,519) (4,218,077) (0) (0) (0) (0) (0) (7,984,216) (4,218,077) (0)

NET EARNINGS BEFORE TAXES 150,624,239 150,624,239 150,624,239 279,116,118 730,988,836 320,575,541 320,575,541 320,575,541 571,451,024 1,533,177,648 485,773,228 485,773,228 485,773,228 836,629,365 2,293,949,048 698,600,412 1,489,702,863 2,238,020,746

TAXES (15,062,424) (15,062,424) (15,062,424) (27,911,612) (73,098,884) (32,057,554) (32,057,554) (32,057,554) (57,145,102) (153,317,765) (48,577,323) (48,577,323) (48,577,323) (83,662,936) (229,394,905) (69,860,041) (148,970,286) (223,802,075)

NET EARNINGS 135,561,815 135,561,815 135,561,815 251,204,506 657,889,953 288,517,987 288,517,987 288,517,987 514,305,921 1,379,859,883 437,195,905 437,195,905 437,195,905 752,966,428 2,064,554,143 628,740,371 1,340,732,576 2,014,218,671

Do Not DeleteCalculation Area

Tax Loss Carry Forward

Interest Income/(Expense)

Tax Loss Carry Forward

Cumulative Net Earning Before Taxes Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12

Year 1 (15,961,085) (31,922,170) (47,883,255) (63,844,339) (79,805,424) (95,766,509) (111,727,594) (127,688,679) (143,649,764) (159,610,849) (175,571,934) (203,690,669)

Year 2 (183,776,565) (163,862,460) (143,948,355) (124,034,250) (104,120,145) (84,206,040) (64,291,936) (44,377,831) (24,463,726) (4,549,621) 15,364,484 91,896,290

Cumulative Net Earning Before Taxes Year 5

Quarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 1 Quarter 2 Quarter 3 Quarter 4

242,520,530 393,144,769 543,769,009 822,885,126 1,143,460,668 1,464,036,209 1,784,611,750 2,356,062,774 2,841,836,002 3,327,609,229 3,813,382,457 4,650,011,822

Interest Income/(Expense) Total Year Per Month Per Qtr

Year 1 (27,849,185) (2,320,765) (6,962,296)

Year 2 (11,346,841) (945,570) (2,836,710)

Year 3 (7,984,216) (665,351) (1,996,054)

Year 4 (4,218,077) (1,054,519) (1,054,519)

Year 5 (0) (0) (0)

Year 3 Year 4

Year 3 Year 4

05-05-11

10:36 PM

Biokraftstoffe 1 $ = 8,552 Rp Notes

Break-Even Analysis inflasi = 6.70%

Years 1 to 5 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp

0 1 2 3 4 5Revenue 0 3,283,344,080 4,922,532,936 6,477,684,815 8,694,956,965 11,185,660,347

Total Costs & Expenses

Variable 3,319,204,150 4,529,127,054 5,677,201,857 7,099,366,585 8,840,110,121

Fixed 136,141,414 82,632,081 90,058,329 97,829,441 103,689,480

Total 0 3,455,345,564 4,611,759,135 5,767,260,186 7,197,196,026 8,943,799,601

Variable Costs/Revenue Ratio 1.01 0.92 0.88 0.82 0.79

Break-Even Point Revenues (12,465,092,726) 1,033,942,700 728,771,882 533,108,488 494,483,254

0

2,000,000,000

4,000,000,000

6,000,000,000

8,000,000,000

10,000,000,000

12,000,000,000

0 0.25 0.5 0.75 1 1.25 1.5 1.75 2 2.25 2.5 2.75 3 3.25 3.5 3.75 4 4.25 4.5 4.75 5

Rp

Years

Revenue vs Total Cost

Revenue

Total Cost

05-05-11


Cash Flow Statement inflasi = 6.70%

Year 1 by Months 1.00€ = 1.48$

(Rp) 1.00€ = 12,657 Rp

Begin Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year 1OPERATING ACTIVITIES

Net Earnings 0 (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (15,961,085) (28,118,736) (203,690,669) (203,690,669)

Depreciation 0 5,428,451 5,428,451 5,428,451 5,428,451 5,428,451 5,428,451 5,428,451 5,428,451 5,428,451 5,428,451 5,428,451 5,428,451 65,141,414 65,141,414

Working Capital Changes 0 0

(Increase)/Decrease Accounts Receivable 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

(Increase)/Decrease Inventories 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

(Increase)/Decrease Other Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Increase/(Decrease) Accts Pay & Accrd Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Increase/(Decrease) Other Current Liab 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Net Cash Provided/(Used) by Operating Activities 0 (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (22,690,285) (138,549,255) (138,549,255)

0 0

INVESTING ACTIVITIES 0 0

Property & Equipment (141,915,404) (15,498,737) 0 0 0 0 0 0 0 0 0 0 0 (15,498,737) (15,498,737)

Initial Fee for CDM Project 0 0

Project AMS-II.G (949,272,000) 0

Project AMS-I.G 0 (949,272,000) (949,272,000) (949,272,000)

Project AMS-I.H 0 (949,272,000) (949,272,000) (949,272,000)

Net Cash Used in Investing Activities (1,091,187,404) (15,498,737) 0 0 0 0 0 0 0 0 0 0 (1,898,544,000) (1,914,042,737) (1,914,042,737)

0 0

FINANCING ACTIVITIES 0 0

Increase/(Decrease) Short Term Debt 0 150,000,000 0 150,000,000 150,000,000

Increase/(Decrease) Long Term Debt 141,915,404 0 (22,338,866) (22,338,866) (22,338,866)

Increase/(Decrease) Owner Capital 50,000,000 0 0 0 0

Increase/(Decrease) Partnership Contribution 949,272,000 1,898,544,000 1,898,544,000 1,898,544,000

Dividends Declared 0 0 0 0

Net Cash Provided / (Used) by Financing 1,141,187,404 2,048,544,000 0 0 0 0 0 0 0 0 0 0 (22,338,866) 2,026,205,134 2,026,205,134

0 0

INCREASE/(DECREASE) IN CASH 50,000,000 2,022,512,629 (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (10,532,634) (1,943,573,150) (26,386,858) (26,386,858)

0 0

CASH AT BEGINNING OF PERIOD 0 50,000,000 2,072,512,629 2,061,979,995 2,051,447,362 2,040,914,728 2,030,382,094 2,019,849,460 2,009,316,827 1,998,784,193 1,988,251,559 1,977,718,926 1,967,186,292 50,000,000

CASH AT END OF PERIOD 50,000,000 2,072,512,629 2,061,979,995 2,051,447,362 2,040,914,728 2,030,382,094 2,019,849,460 2,009,316,827 1,998,784,193 1,988,251,559 1,977,718,926 1,967,186,292 23,613,142 23,613,142

BiokraftstoffeCash Flow Statement

Year 2 by Months Estimated

(Rp)

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year 2OPERATING ACTIVITIES

Net Earnings 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 17,450,880 74,068,582 266,028,264 266,028,264

Depreciation 484,007 484,007 484,007 484,007 484,007 484,007 484,007 484,007 484,007 484,007 484,007 484,007 5,808,081 5,808,081

Working Capital Changes 0

(Increase)/Decrease Accounts Receivable 0 0 0 0 0 0 0 0 0 0 0 0 0 0

(Increase)/Decrease Inventories 0 0 0 0 0 0 0 0 0 0 0 0 0 0

(Increase)/Decrease Other Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Increase/(Decrease) Accts Pay & Accrd Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Increase/(Decrease) Other Current Liab 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Net Cash Provided/(Used) by Operating Activities 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 74,552,589 271,836,345 271,836,345

0

INVESTING ACTIVITIES 0

Property & Equipment (16,666,667) 0 0 0 0 0 0 0 0 0 0 0 (16,666,667) (16,666,667)

Initial Fee for CDM Project 0

Project AMS-II.G 0

Project AMS-I.G 0

Project AMS-I.H 0 0

Net Cash Used in Investing Activities (16,666,667) 0 0 0 0 0 0 0 0 0 0 0 (16,666,667) (16,666,667)

0

FINANCING ACTIVITIES 0

Increase/(Decrease) Short Term Debt 0 (150,000,000) (150,000,000) (150,000,000)

Increase/(Decrease) Long Term Debt 0 (25,019,530) (25,019,530) (25,019,530)

Increase/(Decrease) Owner Capital 0 0 0 0

Increase/(Decrease) Partnership Contribution 0

Dividends Declared 0 0 0

Net Cash Provided / (Used) by Financing 0 0 0 0 0 0 0 0 0 0 0 (175,019,530) (175,019,530) (175,019,530)

0

INCREASE/(DECREASE) IN CASH 1,268,220 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 17,934,887 (100,466,941) 80,150,148 80,150,148

0

CASH AT BEGINNING OF PERIOD 23,613,142 24,881,362 42,816,249 60,751,136 78,686,023 96,620,909 114,555,796 132,490,683 150,425,570 168,360,457 186,295,344 204,230,231 23,613,142

CASH AT END OF PERIOD 24,881,362 42,816,249 60,751,136 78,686,023 96,620,909 114,555,796 132,490,683 150,425,570 168,360,457 186,295,344 204,230,231 103,763,290 103,763,290

BiokraftstoffeCash Flow Statement

Year 3 by Months Estimated

(Rp)

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 Year 3OPERATING ACTIVITIES

Net Earnings 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 42,758,140 158,400,831 628,740,371 628,740,371

Depreciation 673,927 673,927 673,927 673,927 673,927 673,927 673,927 673,927 673,927 673,927 673,927 673,927 8,087,121 8,087,121

Working Capital Changes 0

(Increase)/Decrease Accounts Receivable 0 0 0 0 0 0 0 0 0 0 0 0 0 0

(Increase)/Decrease Inventories 0 0 0 0 0 0 0 0 0 0 0 0 0 0

(Increase)/Decrease Other Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Increase/(Decrease) Accts Pay & Accrd Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Increase/(Decrease) Other Current Liab 0 0 0 0 0 0 0 0 0 0 0 0 0 0

Net Cash Provided/(Used) by Operating Activities 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 159,074,757 636,827,492 636,827,492

0

INVESTING ACTIVITIES 0

Property & Equipment (22,790,404) 0 0 0 0 0 0 0 0 0 0 0 (22,790,404) (22,790,404)

Initial Fee for CDM Project 0

Project AMS-II.G 0

Project AMS-I.G 0

Project AMS-I.H 0 0

Net Cash Used in Investing Activities (22,790,404) 0 0 0 0 0 0 0 0 0 0 0 (22,790,404) (22,790,404)

0

FINANCING ACTIVITIES 0

Increase/(Decrease) Short Term Debt 0 0 0 0

Increase/(Decrease) Long Term Debt 0 (28,021,873) (28,021,873) (28,021,873)

Increase/(Decrease) Owner Capital 0 0 0 0

Increase/(Decrease) Partnership Contribution 0

Dividends Declared 0 0 0

Net Cash Provided / (Used) by Financing 0 0 0 0 0 0 0 0 0 0 0 (28,021,873) (28,021,873) (28,021,873)

0

INCREASE/(DECREASE) IN CASH 20,641,663 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 43,432,067 131,052,884 586,015,215 586,015,215

0

CASH AT BEGINNING OF PERIOD 103,763,290 124,404,953 167,837,019 211,269,086 254,701,153 298,133,220 341,565,287 384,997,353 428,429,420 471,861,487 515,293,554 558,725,621 103,763,290

CASH AT END OF PERIOD 124,404,953 167,837,019 211,269,086 254,701,153 298,133,220 341,565,287 384,997,353 428,429,420 471,861,487 515,293,554 558,725,621 689,778,505 689,778,505

team 16 business plan submission (financial appendix)

Business

rp year

months year

workdays1 year

months quarters year

rp notes

oil spiritus protosjatropha

used oil needs300

oil spiritusmonth