Inputs

Shareholder Loan Components:

Driver
Value
Start
End
Redemption Mode
Redemption Free Period
Redemption Frequency
Interest
Method of Payment

Calculation

Profit & Loss statement

The Profit & Loss statement depends on the Interest Rate and on the Shareholder Loan book value from the previous period.

Interest x Shareholder Loan.Balance Sheet(t-1)

Cashflow statement

The Cashflow statement depends on the Redemption Period (Maturity of Shareholder Loan).

The Shareholder Loan is issued at Start Date and is payed back during the Redemption Period depending on the Redemption Mode.

The Cashflow statement depends on the Redemption Mode (concerns Redemption of the Shareholder Loan).

Linear Redemption

Debt Tranches and Shareholder Loans have to be redeemed. Therefor a Redemption Frequency and a Redemption Free Period is defined. When the Redemption Free Period expires the Debt/Shareholder Loan is redeemed during the Loan Period in regular intervals according to the Redemption Frequency.

When Debt with an amount of EUR 2'000'000, a Loan Period of 10 years, 24 months Redemption Free Period and a Redemption Frequency of 3 months is issued in 12 / 2015, the following Cashflow statement yields from this Debt and the connected Redemptions:

	∑	12.2015	01.2016	...	03.2016	04.2016	05.2016	06.2016	07.2016	08.2016	...	09.2025	10.2025	11.2025	12.2025
Redemption	0	2'000'000	0	...	-62'500	0	0	-62'500	0	0	...	-62'500	0	0	-62'500

The Redemption occurs within 8 years respective 96 months. Thus a monthly Redemption of EUR 20'883 is necessary. Based on the quarterly Redemptions, an amount of EUR 62'500 has to be redeemed every third month.

Annuity Redemption

When the debt is redeemed per annuity, the annual sum of Redemption amounts and Interest payments build a constant value. The Interest expense decline from year to year because the debt is getting less too. Therefore the Redemption amount has to increase to get an annuity Redemption.

The Annuity amount can be calculated with the following formula:

When Debt with an amount of EUR 2'000'000, a Loan Period of 10 years, 24 months Redemption Free Period and a Redemption Frequency of 3 months is issued in 12 / 2015, an annuity redemption amount of annually EUR 304'86 or quarterly EUR 76'216 yields.

	∑	12.2015	...	03.2016	...	03.2018	06.2018	09.2018	...	12.2025
Issuing	2'000'000	2'000'000	...	0	...	0	0	0	...	0
Redemption	-2'000'000	-2'000'000	...	0	...	-51'216	-51'856	-52'504	...	-75'275
Interest	-638'906	0	...	-25'000	...	-25'000	-24'360	23'712	...	-941
Sum		2'000'000	...	-25'000	...	-76'216	-76'216	-76'216	...	-76'216

Bullet Redemption

When Bullet Redemption is selected as Redemption Mode the whole loan is redeemed at the end of the loan period.

When Debt with an amount of EUR 2'000'000 and a Loan Period of 10 years is issued in 12 / 2015, the whole amount of EUR 2'000'000 is redeemed in 12 / 2025.

	∑	12.2015	01.2016	...	03.2018	04.2016	05.2016	06.2016	07.2016	08.2016	...	09.2025	10.2025	11.2025	12.2025
Redemption	0	2'000'000	0	...	0	0	0	0	0	0	...	0	0	0	-2'000'000

The Cashflow statement depends on the Method of Payment (concerns Interest payments on Shareholder Loans).

Balance Sheet

The Balane Sheet yields from the Balance Sheet logic.

The Balance Sheet gets calculated from the closing Balance Sheet of the previous period and from the difference between the Profit & Loss statement and the Cashflow statement of the actual period.

Balance Sheet(t) = Balance Sheet(t - 1) + Profit & Loss statement(t) - Cashflow statement(t)

The following example explains this functionality:

	∑	01.2016	02.2016	03.2016	04.2016	05.2016	06.2016	07.2016	08.2016	09.2016	10.2016	11.2016	12.2016
Profit & Loss statement	48	4	4	4	4	4	4	4	4	4	4	4	4
Cashflow statement	48	0	0	12	0	0	12	0	0	12	0	0	12
Balance Sheet		4	8	0	4	8	0	4	8	0	4	8	0

For 06 / 2016 the book value is calculated as follows:

Balance Sheet(06.2016) = 8 + 4 - 12 = 0

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