Download N: TOT Concession Valuation (.xlsx)
What it does
Toll-Operate-Transfer bid valuation: the maximum upfront fee at your target return (including the tax shield on the fee), the IRR at your bid, Low/Base/High traffic scenarios and a discount-rate table.
Who it is for
Bid teams, investors and analysts.
How to use it
- Go to 'Inputs'. Type the concession years, first financial year, current traffic (ADT) by vehicle class, traffic growth, current toll rates and the toll escalation formula.
- Type operating costs: O&M per year, major maintenance cost and cycle, cost inflation, leakage and tax rate.
- Type your target return (discount rate) and the upfront fee you are thinking of bidding.
- Read the results box: value of the cash flows, maximum bid at your target return, IRR at your proposed bid, and the headroom.
- Use the scenario cell to switch traffic growth to Low or High and see how the value changes. The 'Model' tab shows every year.
Tabs in the file
| Tab | What it holds |
|---|---|
| Inputs | Assumptions, scenario, bid and results. |
| Model | Year-by-year forecast with checks. |
Learn the topic
For computation and reconciliation assistance only; not a substitute for formal statutory audit or legal tax advice. All sample data is illustrative and made up. Rates, limits and rules must be checked against current law and your own agreements before use. No tax saving, audit outcome or compliance result is promised.