Introduction of Milk Processing as a Complementary Activity and its Investment Assessment - A Case Study

V zadnjih letih ekonomičnost prireje mleka pada, zato se je analizirala ideja uvedbe dopolnilne dejavnosti na kmetiji. V magistrskem delu je bil razvit simulacijski model za oceno ekonomike prireje mleka in predelave mleka ter analiza finančne upravičenosti investicije v sirarno. S kalkulacijami skupnih stroškov se je ugotovilo, da je prireja mleka ekonomsko upravičena (Ke = 1,02). Prav tako je ekonomsko upravičena predelava v sveži sir (Ke = 1,01), sveži sir z dodatki (Ke = 1,06), navadni jogurt (Ke = 1,53), sadni jogurt (Ke = 1,33), skuto (Ke = 1,29) in sladko smetano (Ke = 2,12). Na podlagi letnega denarnega toka (LDT = 9.440,32 €), fiksne obrestne mere (i = 6,30 %) ter 10-letne dobe odplačevanja je bilo ocenjeno, da se investicija (I) v višini 22.531,59 € povrne v tretjem letu, ko je neto sedanja vrednost prvič pozitivna (NSV = 2.563,08 €). V primeru najema kredita bi bila ob dobi povratka investicije interna stopnja donosnosti (ISD) 12,37 %.In recent years, the economics of milk processing have been declining, so the idea of introducing a complementary activity on the farm was analysed. In the master’s thesis, a simulation model for the evaluation of the economics of milk production and milk processing was developed and the analysis of a financial justification for the investment in a cheese factory was calculated. By calculating the total costs, it was found that the Milk Production is economically justified (Ke=1.02). It is also economically justifiable to process it into fresh Cheese (Ke=1.01), fresh Cheese with Additions (Ke=1.06), Yogurt (Ke=1.53), Fruit Yogurt (Ke=1.33), Cottage Cheese (Ke=1.29) and Sweet Cream (Ke=2.12). Based on the Annual Cash Flow (LDT=9.440,32 €), the Fixed Interest rate (i=6.30%) and the 10-year repayment period, it was estimated that an investment (I) of 22.531,59 € will be repaid in the third year when the Net Present Value is positive for the first time (NSV= €2,563.08). In the case of a loan, the internal rate of return (ISD) would be 12.37% at the time of investment return