Buses and coaches, vehicles, financial plan, analysis of investments, overview, buyer and seller, purchase of highly capitalized products, travelling by road

1.  Explanation of cost structures
 Differences between fixed and variabel costs
 Influences on cost development
 How to take a sound decision to determine a realistic price
 Be as efficient as possible by maximizing revenues
 Attributes to lower the costs and optimize profits
 The right coach for different clients
 Purchase, warrantee, residual value and lifetime
Guidance through the investment pad of a coach by P. G.

2. Two different types of costs:
1. Variabel costs  increases during heavy usage of the equipement, it influences the total costs on basis of the total operations
2. Fixed costs  remains almost the same, less influenceble, it remains the same most of the time
Variabel costs exist out of the following components:
Fuel – Repair and Maintenance – Tires – Interest – Telephone – Toll – Empty rides  of course it can be more then mentioned
Fixed costs exists out of the following components:
Employees – Depriciation – Overhead – Insurance – Taxes – Salaries – Pensions – Social Security  are a few examples of fixed costs
Both of the cost structures is the basic element to start with the total cost price of your service towards your clients. The ultimo is either the
decision of the tour operator how to calculate the cost specification of a certain vehicle towards his final client. Because this depend of the
driven miles, spec of the coach and the crowd that will be transported.
Primarilly there is a huge difference between national and international passenger transport as well as between daily trips and long distance
travel for a couple of days or even weeks. Therefore some adaptation is needed.
Guidance through the investment pad of a coach by P. G.

3. Variables that influences the development of the life cycle costs:
Not limited to a few but quite a lot of variables influences the total costs of a vehicle. In the market they name this phenomenon Total Cost of
Ownership. It means that all seperate costs in the perspective of the bigger sum are the total costs for every operator.
At this moment we could speak of a good environment which are good fore coach enterprises. The costs of Petrol e.g. Gasoline aren ’t that high.
Due to the lower demand of fossil fuel, the big Petrol Companies and the Oil winners as well can not ask that high prices.
In 2010 and 2011 the Oil prices where at the highest point in five years and remained stable around $
100 per barrel and then the prices decreased very dramatically in just one year.
Next to that the Financial Markets who provide money to loan are not that motivated to finance highly capitalized products unless the
enterprise is financial solid enough, otherwise the OEM can provide a loan against a very competitive interest rate.
Based on the current interest rate of the Capital Markets it is seemingly attractive to close a deal with a loan from a bank or a financing
provided by the seller. In that case a loan offerred by the supplier has more advantages because they can offer it against lower rates
The gap in interest rates before the crisis compared with the current situation is very huge. Currently the deficit is almost 5 % in the advantage
of the buyer. So sharp interest rates on the worldwide Capital market are in the advantage of the operators that are invest in new vehicles. All
based on the situation as it is now.
Guidance through the investment pad of a coach by P. G.

4. Variables that influence the development of the lifecycle costs:
Description Amount
Fixed costs
1Depreciation € 24.500,00
2Interest € 1.372,00
3Insurance (vehicle, passenger and driver) € 5.250,00
4Taxes € 788,00
5Driver (labour costs) € 33.300,00
6Periodical (maintenance) € 575,33
7Overhead (administration) € 2.250,00
8Costs of breakdown € 0,00
9Extra labour costs (overtime and pensions) € 9.281,25
10Pensions € 5.934,06
11 € 83.250,64
Variable
costs
1Fuel (gasoline) € 16.524,00
2Telephone of driver € 180,00
3Consumption € 1.800,00
4Ad-Blue € 765,00
5Variable maintenance € 1.150,00
6Maut surcharge Tol costs € 0,00
7Empty rides € 6.750,00
8Tank hours € 283,05
9Tyres € 3.069,00
10Maintenance (repair and parts replacement) € 1.500,00
11
12 € 32.021,05
0 2000 4000 6000 8000 10000 12000 14000 16000 18000
Chart Variable cost
€ 24,500.00
€ 1,372.00
€ 5,250.00
€ 788.00
€ 33,300.00
€ 575.33
€ 2,250.00
€ 0.00
€ 9,281.25
€ 5,934.06
0 5000 10000 15000 20000 25000 30000 35000
Chart Fixed cost
Guidance through the investment pad of a coach by P. G.

5. Either you are going to buy or lease your coach. It is very important what effect it has on your daily operations and what kind of coach
you are looking for to expand or replace a vehicle in your fleet.
1. The brand of the product, depends on earlier experience, relationship and trust
2. Technical abilities, seat lay-out, configuration, axles, integral or chassis and type of engine
3. Financials  Financial lease or Operational lease, contacts with your bank, brand, credability and residual value
Those 3 components are decisive for at least 70 % of the DMU, the other 30 % is based on the relationship with the supplier.
What should an investment plan consist of:
 Solid financial plan
 Strategy of the selling process, there is a lot to choose from and the orientational phase
 Numbers, make sure that your budget fits the plan
 Details, decision is made, the quotation phase has ended and now it is time to choose the right product that fits to your purposes
 The final phase is there, the products are choosen and the negotiation phase has started, up to the seller to motivate
 Decision made now develop an individual plan how to earn your investment back in a given time
Guidance through the investment pad of a coach by P. G.

6. Example of some thorough calculations for the enterprise: The orientation phase  what do you need An
overview of the basic elements to conduct an good investment plan
Guidance through the investment pad of a coach by P. G.
ANNUAL MILEAGE
70.000
RESIDALE VALUE COACH
37,00%
DURATION
60
INTEREST
0,035
Driver data
Work days each year 225
Salary driver per hour € 18,50
Pension premium (17,82 %) € 3,30
Allowance per hr (35%) (275 overtime hours) € 9.281
Overhead (divers) 5% € 2.250
Work hours (each week 40) 225 ds/years 1.800
Mile age (KM) and fuel cost per liter
Kilometers each year 70.000
Diesel price LTRS € 1,08
Fuel usage
Usage of petrol each year 11900
Number of fuel stops 60
Ad blue liter price 0,08 € 47,60
Ad blue 5 % o/t gasoline 595
Tyres
Tyres - setprice (€ 2790) € 2.790,00
Residale Value 10 % o/t new price € 279,00
Cleaning
Cleaning (20x each year á € 75) € 1.500,00
Lifetime of the vehicle and
Interest
Lifetime coach (economic) 5
Redemption and Interest (monthly) € 143
Residale Value in % 0,37
Divers additional costs
Vehicle Insurance on yearly basis € 5.250,00
Road Tax
Road Tax (from 9851-11150 kg) #N/A
Road Tax (from 11151-12850 kg) #N/A
Road Tax (from 11151-12850 kg) 12951-13050 € 788,00
Road Tax (from 12851-14850 kg) #N/A
Road Tax (from 14851-15050 kg) #N/A
Eurovignet per km
Tank Content in Liters 200
Consumption per 100 km 17
Average km on an full fuel tank 1.176,47
Tank on 1/2
Tires price each (€ 465) € 2.790,00
Change every 75,000 km 0,93
Tank hours +/- 10 minutes each time 11,90
Costs of tank at fuel station € 220,15
Costs of tire change € 2.325,00
Phone for driver (€ 15 each month) € 180,00
Consumptions, wait time, Hotels (€ 150 each month) € 1.800,00
Redemption vehicle incl. (each month incl rates) € 1.715,00
Variable maintenance Each year € 1.150,00
Empty rides Each year € 5.250,00
Damage on coach (bumpers, glass,
mirrors, etc.) Each year € 1.500,00
PURCHASE PRICE
€ 245.000,00

7. Example of some thorough calculations for the enterprise: The orientation phase  what do you need
In the table above there is an overview of the maintenance cost of different vehicle types, mainly based on that with DAF-engines. Prior to the
mentioned prices I have to announce that this are prices which are based on average maintenace costs which not includes parts replacement. In
each year I calculated an 5 % margin because of increasing prices and more maintenance issues if an vehicle becomes older.
It is a rough estimation but it closely matches the daily operative costs of logistical providers in the passenger transport by coach.
Guidance through the investment pad of a coach by P. G.
Expected expences for Maintenance Tariff Total 1 year Total 2 year Total 3 year Total 4 year Total 5 year Total 6 year Total 7 year Total 8 year Total 9 year Total 10 year
Sign out Tachograph € 93,00 € 93,00 € 97,88 € 103,02 € 108,43 € 114,12 € 120,11 € 126,42 € 133,06 € 140,04 € 147,39
Sign out and additional fees € 17,00 € 17,00 € 17,89 € 18,83 € 19,82 € 20,86 € 21,96 € 23,11 € 24,32 € 25,60 € 26,94
MOT – 2 axle vehicle € 105,00 € 105,00 € 110,51 € 116,31 € 122,42 € 128,85 € 135,61 € 142,73 € 150,23 € 158,11 € 166,41
MOT – 3 axle vehicle € 120,00 € 120,00 € 126,30 € 132,93 € 139,91 € 147,25 € 154,99 € 163,12 € 171,69 € 180,70 € 190,19
Soot emissions measure € 20,00 € 6,00 € 6,32 € 6,65 € 7,00 € 7,36 € 7,75 € 8,16 € 8,58 € 9,03 € 9,51
Y1 routine maintenance DAF 2-axle € 120,00 € 46,67 € 49,12 € 51,70 € 54,41 € 57,27 € 60,27 € 63,44 € 66,77 € 70,27 € 73,96
Y1 routine maintenance DAF 3-axle € 136,00 € 52,89 € 55,67 € 58,59 € 61,66 € 64,90 € 68,31 € 71,89 € 75,67 € 79,64 € 83,82
Y2- routine maintenance DAF 2-axle € 194,00 € 25,15 € 26,47 € 27,86 € 29,32 € 30,86 € 32,48 € 34,19 € 35,98 € 37,87 € 39,86
Y2- routine maintenance DAF 3-axle € 210,00 € 27,22 € 28,65 € 30,16 € 31,74 € 33,41 € 35,16 € 37,00 € 38,95 € 40,99 € 43,14
T-maintenance/ P-maintenance 2-axle € 106,00 € 53,00 € 55,78 € 58,71 € 61,79 € 65,04 € 68,45 € 72,05 € 75,83 € 79,81 € 84,00
T-maintenance / P-maintenance 3-axle € 152,00 € 76,00 € 79,99 € 84,19 € 88,61 € 93,26 € 98,16 € 103,31 € 108,73 € 114,44 € 120,45
Yearly control of the alarm € 35,00 € 35,00 € 36,84 € 38,77 € 40,81 € 42,95 € 45,20 € 47,58 € 50,08 € 52,70 € 55,47
Break tests on platform € 42,00 € 42,00 € 44,21 € 46,53 € 48,97 € 51,54 € 54,25 € 57,09 € 60,09 € 63,24 € 66,57
X-maintenance 2-axle € 155,00 € 120,56 € 126,88 € 133,55 € 140,56 € 147,94 € 155,70 € 163,88 € 172,48 € 181,54 € 191,07
X-maintenance 3-axle € 172,00 € 133,78 € 140,80 € 148,19 € 155,97 € 164,16 € 172,78 € 181,85 € 191,40 € 201,45 € 212,02
Airco check expanded € 135,00 € 135,00 € 142,09 € 149,55 € 157,40 € 165,66 € 174,36 € 183,51 € 193,15 € 203,29 € 213,96

8. There are roughly two methods to depriciate the value of the purchased vehicle:
Guidance through the investment pad of a coach by P. G.
Lineair depriciation
FORMULE
A-
R/n/Ax100%
{1-
(R/A)^?*100}
Boekvalue begin Dep. Year 1 BV aft. 1 year Dep. Year 2 BV aft. 2 year Dep. Year 3
BV aft. 3
year Dep. Year 4
BV aft. 4
year Dep. Year 5
BV aft. 5
year Dep. Year 6
BV aft. 6
year Dep. Year 7
BV aft. year
7 Dep. Year 8
BV aft. 8
year
Dep. Year
9 BV aft. 9 year
Residale V a
10Year
€ 154.350,00 € 57.109,50 € 97.240,50 € 35.978,99 € 61.261,52 € 22.666,76 € 38.594,75 € 14.280,06 € 24.314,70 € 8.996,44 € 15.318,26 € 5.667,76 € 9.650,50 € 3.570,69 € 6.079,82 € 2.249,53 € 3.830,28
€
1.417,21 € 2.413,08 -€ 995,87
Control/Total € 57.109,50 € 97.240,50 € 35.978,99 € 61.261,52 € 22.666,76 € 38.594,75 € 14.280,06 € 24.314,70 € 8.996,44 € 15.318,26 € 5.667,76 € 9.650,50 € 3.570,69 € 6.079,82 € 2.249,53 € 3.830,28
€
1.417,21 € 2.413,08 -€ 995,87
Bookvalue depriciation
Bookvalue begin Dep. Year 1 BV aft. 1 year Dep. Year 2 BV aft. 2 year Dep. Year 3
BV aft. 3
year Dep. Year 4
BV aft. 4
year Dep. Year 5
BV aft. 5
year Dep. Year 6
BV aft. 6
year Dep. Year 7
BV aft. year
7 Dep. Year 8
BV aft. 8
year
Dep. Year
9 BV aft. 9 year
Residale V a
10Year
€ 154.350,00 € 43.218,00 € 111.132,00 € 31.116,96 € 80.015,04 € 22.404,21 € 57.610,83 € 16.131,03 € 41.479,80 € 11.614,34 € 29.865,45 € 8.362,33 € 21.503,13 € 6.020,88 € 15.482,25 € 4.335,03 € 11.147,22
€
3.121,22 € 8.026,00 -€ 4.904,78
Control/Total € 43.218,00 € 111.132,00 € 31.116,96 € 80.015,04 € 22.404,21 € 57.610,83 € 16.131,03 € 41.479,80 € 11.614,34 € 29.865,45 € 8.362,33 € 21.503,13 € 6.020,88 € 15.482,25 € 4.335,03 € 11.147,22
€
3.121,22 € 8.026,00 -€ 4.904,78
€ 0.00
€ 20,000.00
€ 40,000.00
€ 60,000.00
€ 80,000.00
€ 100,000.00
Afs.
Jaar
1
BW
na 1
jaar
Afs.
Jaar
2
BW
na 2
jaar
Afs.
Jaar
3
Bw
na 3
jaar
Afs.
Jaar
4
BW
na 4
jaar
Afs.
Jaar
5
BW
na 5
jaar
Afs.
Jaar
6
BW
na 6
jaar
Afs.
Jaar
7
BW
na 7
jaar
AMOUNTINEURO'S
DEPRICIATION AND BOOKVALUE
Depriciation of the new price-residale
value
€ 0.00
€ 20,000.00
€ 40,000.00
€ 60,000.00
€ 80,000.00
€ 100,000.00
€ 120,000.00
Afs.
Jaar
1
BW
na 1
jaar
Afs.
Jaar
2
BW
na 2
jaar
Afs.
Jaar
3
Bw
na 3
jaar
Afs.
Jaar
4
BW
na 4
jaar
Afs.
Jaar
5
BW
na 5
jaar
Afs.
Jaar
6
BW
na 6
jaar
Afs.
Jaar
7
BW
na 7
jaar
AMOUNTINEURO'S
DEPRICIATION AND BOOKVALUE
Depriciation of the new price – book
value

9. The complementary costs exist out of the depriciation costs combined with the interest. Depending on the type of company an percentage to
cover the risk of the costs. They are mainly exist out of maintenance costs. After the depriciation of an vehicle decreases maintenance costs
rises. It is wise to calculate this type of costs in to the fair price wether the coach is used for national or international purposes.
Guidance through the investment pad of a coach by P. G.
Complementary costs
Year Depriciation costs Interest percentage Interest costs (AIP) Complementary costs Total costs Production in KM KM-costs
Year 1 € 57.109,50 0,05 € 2.855,48 € 5.770,37 € 65.735,35 0 € 0,00
Year 2 € 35.978,99 0,05 € 1.798,95 € 5.797,69 € 43.575,62 0 € 0,00
Year 3 € 22.666,76 0,05 € 1.133,34 € 5.826,44 € 29.626,54 0 € 0,00
Year 4 € 14.280,06 0,05 € 714,00 € 5.965,14 € 20.959,20 0 € 0,00
Year 5 € 8.996,44 0,05 € 449,82 € 5.888,56 € 15.334,82 0 € 0,00
Year 6 € 5.667,76 0,05 € 283,39 € 5.922,08 € 11.873,23 0 € 0,00
Year 7 € 3.570,69 0,05 € 178,53 € 5.975,34 € 9.724,56 0 € 0,00
Year 8 € 2.249,53 0,05 € 112,48 € 5.994,50 € 8.356,51 0 € 0,00
Year 9 € 1.417,21 0,05 € 70,86 € 6.086,30 € 7.574,36 0 € 0,00
Year 10 € 0,00 0,05 € 0,00 € 6.074,73 € 6.074,73 € 0,00
Complementary costs
Year Depriciation costs Interest percentage Interest costs (AIP) Complementary costs Total costs Production in KM KM-costs
Year 1 € 43.218,00 0,05 € 2.160,90 € 5.770,37 € 51.149,27 0 € 0,00
Year 2 € 31.116,96 0,05 € 1.555,85 € 5.797,69 € 38.470,50 0 € 0,00
Year 3 € 22.404,21 0,05 € 1.120,21 € 5.826,44 € 29.350,87 0 € 0,00
Year 4 € 16.131,03 0,05 € 806,55 € 5.965,14 € 22.902,72 0 € 0,00
Year 5 € 11.614,34 0,05 € 580,72 € 5.888,56 € 18.083,62 0 € 0,00
Year 6 € 8.362,33 0,01 € 83,62 € 5.922,08 € 14.368,03 0 € 0,00
Year 7 € 6.020,88 0,01 € 60,21 € 5.975,34 € 12.056,43 0 € 0,00
Year 8 € 4.335,03 0,01 € 43,35 € 5.994,50 € 10.372,89 0 € 0,00
Year 9 € 3.121,22 0,01 € 31,21 € 6.086,30 € 9.238,73 0 € 0,00
Year 10 € 3.121,22 0,01 € 31,21 € 6.074,73 € 9.227,16 € 0,00

10. Cash receivable Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Fair receipt € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00
Residale Value vehicle € 2.413,08
Depriciation € 57.109,50 € 35.978,99 € 22.666,76 € 14.280,06 € 8.996,44 € 5.667,76 € 3.570,69 € 2.249,53 € 1.417,21
Total receivables € 109.609,50 € 88.478,99 € 75.166,76 € 66.780,06 € 61.496,44 € 58.167,76 € 56.070,69 € 54.749,53 € 53.917,21 € 52.500,00
Expenses jaar 1 jaar 2 jaar 3 jaar 4 jaar 5 jaar 6 jaar 7 jaar 8 jaar 9 jaar 10
Salary € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25
Fuel and Ad-Blue € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15
Maintenance € 5.770,37 € 5.797,69 € 5.826,44 € 5.965,14 € 5.888,56 € 5.922,08 € 5.975,34 € 5.994,50 € 6.086,30 € 6.074,73
Insurance € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00
€ 1.715,00 € 1.715,00 € 1.715,00 € 1.715,00 € 1.715,00
Road Tax € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00
Tyres and tank hours € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15
Expenses € 72.316,92 € 16.095,84 € 16.124,59 € 16.263,29 € 16.186,71 € 14.505,23 € 14.558,49 € 14.577,65 € 14.669,45 € 14.657,88
EBT € 37.292,58 € 72.383,15 € 59.042,17 € 50.516,77 € 45.309,73 € 43.662,52 € 41.512,19 € 40.171,88 € 39.247,76 € 37.842,12
Taxes € 9.509,61 € 18.457,70 € 15.055,75 € 12.881,78 € 11.553,98 € 11.133,94 € 10.585,61 € 10.243,83 € 10.008,18 € 9.649,74
EAT € 27.782,97 € 53.925,44 € 43.986,41 € 37.635,00 € 33.755,75 € 32.528,58 € 30.926,58 € 29.928,05 € 29.239,58 € 28.192,38
Net Result € 27.782,97 € 53.925,44 € 43.986,41 € 37.635,00 € 33.755,75 € 32.528,58 € 30.926,58 € 29.928,05 € 29.239,58 € 28.192,38
Investment Net receivable 1 Net receivable 2 Net receivable 3 Net receivable 4 Net receivable 5 Net receivable 6 Net receivable 7 Net receivable 8 Net receivable 9 Net receivable 10
€ 245.000,00 € 27.782,97 € 53.925,44 € 43.986,41 € 37.635,00 € 33.755,75 € 32.528,58 € 30.926,58 € 29.928,05 € 29.239,58 € 28.192,38
Investment period
Year 1 € 245.000,00 € 27.782,97 € 217.217,03 1year
Year 2 € 217.217,03 € 53.925,44 € 163.291,59 2year
Year 3 € 163.291,59 € 43.986,41 € 119.305,17 3year
Year 4 € 119.305,17 € 37.635,00 € 81.670,18 38,0411 a 12 months
Year 5 TP = 3,8 year
Average Invested
Portion
A-R/n/A*100 € 26.054,07
Average profit € 143.790,63
Accounttability Yield 18,11945226
Net Cash Value
Method Jaar 1 Jaar 2 Jaar 3 Jaar 4 Jaar 5 Jaar 6 Jaar 7 Jaar 8 Jaar 9 Jaar 10 Totaal
Interest feet 2,20 € 12.628,62 € 11.141,62 € 4.130,96 € 1.606,58 € 654,99 € 286,90 € 123,99 € 54,54 € 24,22 € 10,61 € 30.663,02
€ 245.000,00
€ (214.336,98)
Guidance through the investment pad of a coach by P. G.

11. Cash receivable Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Fair receipt € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00 € 52.500,00
Residale Value vehicle € 2.413,08
Depriciation € 57.109,50 € 35.978,99 € 22.666,76 € 14.280,06 € 8.996,44 € 5.667,76 € 3.570,69 € 2.249,53 € 1.417,21
Total receivables € 109.609,50 € 88.478,99 € 75.166,76 € 66.780,06 € 61.496,44 € 58.167,76 € 56.070,69 € 54.749,53 € 53.917,21 € 52.500,00
Expenses Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Salary € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25 € 42.581,25
Fuel and Ad-Blue € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15 € 13.667,15
Maintenance € 5.770,37 € 5.797,69 € 5.826,44 € 5.965,14 € 5.888,56 € 5.922,08 € 5.975,34 € 5.994,50 € 6.086,30 € 6.074,73
Insurance € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00 € 5.250,00
€ 1.715,00 € 1.715,00 € 1.715,00 € 1.715,00 € 1.715,00
Road Tax € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00 € 788,00
Tyres and tank hours € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15 € 2.545,15
Expenses € 72.316,92 € 16.095,84 € 16.124,59 € 16.263,29 € 16.186,71 € 14.505,23 € 14.558,49 € 14.577,65 € 14.669,45 € 14.657,88
EBT € 37.292,58 € 72.383,15 € 59.042,17 € 50.516,77 € 45.309,73 € 43.662,52 € 41.512,19 € 40.171,88 € 39.247,76 € 37.842,12
Taxes € 9.509,61 € 18.457,70 € 15.055,75 € 12.881,78 € 11.553,98 € 11.133,94 € 10.585,61 € 10.243,83 € 10.008,18 € 9.649,74
EAT € 27.782,97 € 53.925,44 € 43.986,41 € 37.635,00 € 33.755,75 € 32.528,58 € 30.926,58 € 29.928,05 € 29.239,58 € 28.192,38
Net Result € 27.782,97 € 53.925,44 € 43.986,41 € 37.635,00 € 33.755,75 € 32.528,58 € 30.926,58 € 29.928,05 € 29.239,58 € 28.192,38
Investment Net receivable 1 Net receivable 2 Net receivable 3 Net receivable 4 Net receivable 5 Net receivable 6 Net receivable 7 Net receivable 8 Net receivable 9 Net receivable 10
€ 245.000,00 € 27.782,97 € 53.925,44 € 43.986,41 € 37.635,00 € 33.755,75 € 32.528,58 € 30.926,58 € 29.928,05 € 29.239,58 € 28.192,38
Investment periode
Year 1 € 245.000,00 € 27.782,97 € 217.217,03 1year
Year 2 € 217.217,03 € 53.925,44 € 163.291,59 2year
€ 163.291,59 € 43.986,41 € 119.305,17 3
Year 3 € 119.305,17 € 37.635,00 € 81.670,18 38,04year
Year 4 TP = 3,8 jaar 11 a 12 months
Year 5
Average Invested
Portion
A-R/n/A*100 € 26.054,07
Average profit € 143.790,63
Accounttability Yield 18,11945226
Net Cash Value
Method Jaar 1 Jaar 2 Jaar 3 Jaar 4 Jaar 5 Jaar 6 Jaar 7 Jaar 8 Jaar 9 Jaar 10 Totaal
Interest feet 2,20 € 12.628,62 € 11.141,62 € 4.130,96 € 1.606,58 € 654,99 € 286,90 € 123,99 € 54,54 € 24,22 € 10,61 € 30.663,02
€ 245.000,00
€ (214.336,98)
Guidance through the investment pad of a coach by P. G.

12. In both sheets the income statements of two depriciation methods are calculated. There is not a very big difference in the net result as it can be
seen in both of the income sheets. More over each operator is calculating for specific projects. This is more of an example how an investment
method can be approached and calculated over a periode of 5 to 10 years in which a coach operates in an enterprise.
Guidance through the investment pad of a coach by P. G.
Exploitation after 10 years (lineair depriciation) Exploitation after 10 years (degressiv depriciation)
Turnover Turnover
Rides over the year € 525.000,00 Rides over the year € 525.000,00
Totaal € 525.000,00 Totaal € 525.000,00
Costs Costs
Depriciation € 151.936,92 Depriciation € 146.324,00
Interest-Insurance-Road Taks
€ 14.845,00
Interest-Insurance-Road Taks
€ 14.845,00
Maintenance € 59.301,15 Maintenance € 59.301,15
Salary and Pension € 101.921,85 Salary and Pension € 101.921,85
Downtime Downtime
Fixed cost € 328.004,92 Fixed cost € 322.392,00
Fuel + Ad-Blue € 18.802,00 Fuel + Ad-Blue € 18.802,00
Phone € 1.800,00 Phone € 1.800,00
Overhead € 22.500,00 Overhead € 22.500,00
Empty Rides and tank hours € 7.451,50 Empty Rides and tank hours € 7.451,50
Tyres and maintenance € 14.345,37 Tyres and maintenance € 14.345,37
Variable costs € 64.898,87 Variable costs € 64.898,87
EBITDA € 132.096,21 EBITDA € 137.709,13
Depriciation € 196.912,34 Depriciation € 146.324,00
EBIT € -64.816,14 EBIT € -8.614,88
Depriciation € 196.912,34 Depriciation € 146.324,00
EBT € 132.096,21 EBT € 137.709,13
Taxes 25,5 % € 33.684,53 Taxes 25,5 % € 35.115,83
Net result € 98.411,67 Net result € 102.593,30

13. Guidance through the investment pad of a coach by P. G.
KILOMETERS FIXED COST P/KM VARIABLE COST P/KM VEHICLE TYPE (1) INCOME FROM DRIVES SEATS EARNINGS PER SEAT COST PER SEAT FIXES COST VARIABLE COST TOTAL C FIX/VAR NET INCOME
0 #DIV/0! #DIV/0! Irizar I6 4x2 (13 MTR) € - 57 € - #DIV/0! € 83.538,68 € - € 83.538,68 € -83.538,68
30.000 € 2,78 € 0,86 Irizar I6 4x2 (13 MTR) € 27.000,00 57 € 473,68 € 3,65 € 83.538,68 € 11.088,06 € 94.626,74 € -67.626,74
40.000 € 2,09 € 0,65 Irizar I6 4x2 (13 MTR) € 36.000,00 57 € 631,58 € 2,74 € 83.538,68 € 14.784,09 € 98.322,77 € -62.322,77
50.000 € 1,67 € 0,52 Irizar I6 4x2 (13 MTR) € 45.000,00 57 € 789,47 € 2,19 € 83.538,68 € 18.480,11 € 102.018,79 € -57.018,79
60.000 € 1,39 € 0,43 Irizar I6 4x2 (13 MTR) € 54.000,00 57 € 947,37 € 1,82 € 83.538,68 € 22.176,13 € 105.714,81 € -51.714,81
70.000 € 1,19 € 0,37 Irizar I6 4x2 (13 MTR) € 63.000,00 57 € 1.105,26 € 1,56 € 83.538,68 € 25.872,15 € 109.410,83 € -46.410,83
80.000 € 1,04 € 0,32 Irizar I6 4x2 (13 MTR) € 72.000,00 57 € 1.263,16 € 1,37 € 83.538,68 € 29.568,17 € 113.106,85 € -41.106,85
80.000 € 1,04 € 0,32 Irizar I6 4x2 (13 MTR) € 72.000,00 57 € 1.263,16 € 1,37 € 83.538,68 € 29.568,17 € 113.106,85 € -41.106,85
210.000 € 0,40 € 0,12 Irizar I6 4x2 (13 MTR) € 189.000,00 57 € 3.315,79 € 0,52 € 83.538,68 € 77.616,45 € 161.155,13 € 27.844,87
220.000 € 0,38 € 0,12 Irizar I6 4x2 (13 MTR) € 198.000,00 57 € 3.473,68 € 0,50 € 83.538,68 € 81.312,47 € 164.851,15 € 33.148,85
230.000 € 0,36 € 0,11 Irizar I6 4x2 (13 MTR) € 207.000,00 57 € 3.631,58 € 0,48 € 83.538,68 € 85.008,49 € 168.547,17 € 38.452,83
240.000 € 0,35 € 0,11 Irizar I6 4x2 (13 MTR) € 216.000,00 57 € 3.789,47 € 0,46 € 83.538,68 € 88.704,51 € 172.243,19 € 43.756,81
250.000 € 0,33 € 0,10 Irizar I6 4x2 (13 MTR) € 225.000,00 57 € 3.947,37 € 0,44 € 83.538,68 € 92.400,54 € 175.939,22 € 49.060,78
260.000 € 0,32 € 0,10 Irizar I6 4x2 (13 MTR) € 234.000,00 57 € 4.105,26 € 0,42 € 83.538,68 € 96.096,56 € 179.635,24 € 54.364,76
270.000 € 0,31 € 0,10 Irizar I6 4x2 (13 MTR) € 243.000,00 57 € 4.263,16 € 0,41 € 83.538,68 € 99.792,58 € 183.331,26 € 59.668,74
280.000 € 0,30 € 0,09 Irizar I6 4x2 (13 MTR) € 252.000,00 57 € 4.421,05 € 0,39 € 83.538,68 € 103.488,60 € 187.027,28 € 64.972,72
290.000 € 0,29 € 0,09 Irizar I6 4x2 (13 MTR) € 261.000,00 57 € 4.578,95 € 0,38 € 83.538,68 € 107.184,62 € 190.723,30 € 70.276,70
300.000 € 0,28 € 0,09 Irizar I6 4x2 (13 MTR) € 270.000,00 57 € 4.736,84 € 0,36 € 83.538,68 € 110.880,64 € 194.419,32 € 75.580,68
520.000 € 0,16 € 0,05 Irizar I6 4x2 (13 MTR) € 468.000,00 57 € 8.210,53 € 0,21 € 83.538,68 € 192.193,11 € 275.731,79 € 192.268,21
530.000 € 0,16 € 0,05 Irizar I6 4x2 (13 MTR) € 477.000,00 57 € 8.368,42 € 0,21 € 83.538,68 € 195.889,14 € 279.427,82 € 197.572,18
540.000 € 0,15 € 0,05 Irizar I6 4x2 (13 MTR) € 486.000,00 57 € 8.526,32 € 0,20 € 83.538,68 € 199.585,16 € 283.123,84 € 202.876,16
550.000 € 0,15 € 0,05 Irizar I6 4x2 (13 MTR) € 495.000,00 57 € 8.684,21 € 0,20 € 83.538,68 € 203.281,18 € 286.819,86 € 208.180,14
560.000 € 0,15 € 0,05 Irizar I6 4x2 (13 MTR) € 504.000,00 57 € 8.842,11 € 0,20 € 83.538,68 € 206.977,20 € 290.515,88 € 213.484,12
570.000 € 0,15 € 0,05 Irizar I6 4x2 (13 MTR) € 513.000,00 57 € 9.000,00 € 0,19 € 83.538,68 € 210.673,22 € 294.211,90 € 218.788,10
580.000 € 0,14 € 0,04 Irizar I6 4x2 (13 MTR) € 522.000,00 57 € 9.157,89 € 0,19 € 83.538,68 € 214.369,24 € 297.907,92 € 224.092,08
590.000 € 0,14 € 0,04 Irizar I6 4x2 (13 MTR) € 531.000,00 57 € 9.315,79 € 0,19 € 83.538,68 € 218.065,26 € 301.603,94 € 229.396,06
600.000 € 0,14 € 0,04 Irizar I6 4x2 (13 MTR) € 540.000,00 57 € 9.473,68 € 0,18 € 83.538,68 € 221.761,29 € 305.299,97 € 234.700,03

14. Guidance through the investment pad of a coach by P. G.
€-
€100,000.00
€200,000.00
€300,000.00
€400,000.00
€500,000.00
€600,000.00
0 100,000 200,000 300,000 400,000 500,000 600,000 700,000
AxisTitle
Aantal kilometers
Break Even Turnover/Sales
OPBRENGST UIT RITTEN VASTE KOSTEN VARIABELE KOSTEN TOTALE KN VAST/VAR vermoedelijk BEA = 157501,919069537
Break even X Break even Y Label
157.502 € 141.752 vermoedelijk BEA = 157501,919069537

15. I. In the last two slides before this one, there is an overview of the how to’s in order to be profitable by calculating the costs and profits per
coach in every segment. This is namely the key answer to take the right decision to choose a coach for several of projects or to buy more
for a single project. That depends on the market in which the enterprise is operating in.
I. Through a expanded use of variables it is much more easier to decide whether it is prudent to invest or not. Especially if a projects
asks for a coach of the latest standards, it is more then logical sence to make a project out of it and ask accountants,
businesspartners, investors for good advice.
I. In the break-even analysis (the chart) it is visible when an bus is break-even, or the moment that costs and revenues reaches
the same level. All what is more is pure profit, the more kilometers a bus/coach drives the more profitable the faster the
investment will be earned.
I. The slide (13) in which is referred to the different calculations is based on the expected mile ages a bus drives each year.
That is the basis to manage a detailled scheme with different results. The lesser the turn around or mile age the lower the
turnover. However if certain projects demanding an higher mile age / turn around the turnover and eventually the profits
as well becomes much more higher.
Guidance through the investment pad of a coach by P. G.

16.  In this example it is explained of how coach operators can calculate their Break Even Load at a minimum to cover at least all frequent costs.
It is a leading example to make thorough decisions in how to take steps towards a possible buy of a new coach/bus.
Guidance through the investment pad of a coach by P. G.
Break even Load
Seats in Vehicle Fixed costs Variable costs Turnover
57 € 83.538,68 € 25.872,15 € 141.751,73
Percentage off/total 0,24
Total costs € 109.410,83
Optimum Break even Load
Stap 1: Fixed + Variable € 109.410,83
Stap 2: Decide X € 1.417,52 € 450,00
Stap 3: Decide X = 24,1 % € 335,20 € 0,00
Stap 4: Decide Unkwown = X € 1.082,32 € 450,00
Stap 5: Break even Load 77,2 185,6415119
Vehicle deployment at Y
kilometer Turnover Total Costs Load grade in %
50.000 € 45.000,00 € 102.018,79 226,71
100.000 € 90.000,00 € 120.498,89 133,89
150.000 € 135.000,00 € 138.979,00 102,95
200.000 € 180.000,00 € 157.459,11 87,48
250.000 € 225.000,00 € 175.939,22 78,20
300.000 € 270.000,00 € 194.419,32 72,01
350.000 € 315.000,00 € 212.899,43 67,59
400.000 € 360.000,00 € 231.379,54 64,27
450.000 € 405.000,00 € 249.859,64 61,69
500.000 € 450.000,00 € 268.339,75 59,63
y = 57390e5E-06x
R² = 0.9057
€ 0.00
€ 100,000.00
€ 200,000.00
€ 300,000.00
€ 400,000.00
€ 500,000.00
€ 600,000.00
€ 700,000.00
0 100,000 200,000 300,000 400,000 500,000 600,000
BELADINGSGRAAD

17. Guidance through the investment pad of a coach by P. G.
Ideal fair price/kilometers Restrictions
Kilometers Variable cost total deployment/km Fixed cost deployment/km Minimum depl
Kilometer cost
price Max deployment Storage rate Turnover
30.000 € 11.088,06 € 25.138,06 20.000 € 1,21 30.000 1,50 € 54.339,18
40.000 € 14.784,09 € 33.517,41 30.000 € 1,21 40.000 1,50 € 72.452,24
50.000 € 18.480,11 € 41.896,76 40.000 € 1,21 50.000 1,50 € 90.565,30
60.000 € 22.176,13 € 50.276,11 50.000 € 1,21 60.000 1,50 € 108.678,36
70.000 € 25.872,15 € 58.655,46 60.000 € 1,21 70.000 1,50 € 126.791,42
80.000 € 29.568,17 € 67.034,82 70.000 € 1,21 80.000 1,50 € 144.904,48
90.000 € 33.264,19 € 75.414,17 80.000 € 1,21 90.000 1,50 € 163.017,54
100.000 € 36.960,21 € 83.793,52 90.000 € 1,21 100.000 1,50 € 181.130,60
110.000 € 40.656,24 € 92.172,87 100.000 € 1,21 110.000 1,50 € 199.243,66
120.000 € 44.352,26 € 100.552,22 110.000 € 1,21 120.000 1,50 € 217.356,72
130.000 € 48.048,28 € 108.931,57 120.000 € 1,21 130.000 1,50 € 235.469,78
140.000 € 51.744,30 € 117.310,93 130.000 € 1,21 140.000 1,50 € 253.582,84
150.000 € 55.440,32 € 125.690,28 140.000 € 1,21 150.000 1,50 € 271.695,90
160.000 € 59.136,34 € 134.069,63 150.000 € 1,21 160.000 1,50 € 289.808,96
Ideal fair price/capacity
Restricttions
Seat Capacity Variable costs per seat Fixed cost per seat deployment Cost per seat Maximum capacity Storage rate Turnover Outcome after solver
25 € 1.034,89 € 3.341,55 80 € 2,08 2.100 43 € 95.407,51 € 1.192,59
30 € 862,41 € 2.784,62 80 € 1,52 2.400 64 € 158.338,04 € 1.979,23
35 € 739,20 € 2.386,82 80 € 1,12 2.800 30 € 87.215,34 € 1.090,19
40 € 646,80 € 2.088,47 80 € 0,85 3.200 30 € 98.803,65 € 1.235,05
45 € 574,94 € 1.856,42 80 € 0,68 3.600 30 € 110.485,38 € 1.381,07
50 € 517,44 € 1.670,77 80 € 0,55 4.000 30 € 122.231,98 € 1.527,90
55 € 470,40 € 1.518,89 80 € 0,45 4.400 30 € 134.025,46 € 1.675,32
60 € 431,20 € 1.392,31 80 € 0,38 4.800 30 € 145.853,91 € 1.823,17
65 € 398,03 € 1.285,21 80 € 0,32 5.200 30 € 157.709,14 € 1.971,36
70 € 369,60 € 1.193,41 80 € 0,28 5.600 30 € 169.585,34 € 2.119,82
75 € 344,96 € 1.113,85 80 € 0,24 6.000 30 € 181.478,26 € 2.268,48
80 € 323,40 € 1.044,23 80 € 0,21 6.400 30 € 193.384,73 € 2.417,31
85 € 304,38 € 982,81 80 € 0,19 6.800 30 € 205.302,33 € 2.566,28
90 € 287,47 € 928,21 80 € 0,17 7.200 30 € 217.229,18 € 2.715,36

18. This solver belongs to the first calculation of sheet 17.
Guidance through the investment pad of a coach by P. G.
Microsoft Excel 15.0 Antwoordrapport
Werkblad: [Investeringsanalyse.xlsm]Optimum
Rapport gemaakt: 12-4-2016 01:41:13
Resultaat: Oplosser heeft een oplossing gevonden. Alle randvoorwaarden en optimalisatievoorwaarden zijn vervuld.
Oplosser-engine
Engine: GRG Nonlinear
Oplossingstijd: 2,578 Seconden.
Iteraties: 2 Subproblemen: 0
Opties voor Oplosser
Maximale tijd Onbeperkt, Iteraties Onbeperkt, Precision 0,000001
Convergentie 0,0001, Populatiegrootte 0, Willekeurige seed 0, Afgeleiden voorwaarts
Maximum aantal subproblemen Onbeperkt, Max geheeltallige opl Onbeperkt, Geheeltallige tolerantie 1%, Oplossen zonder geheeltallige randvoorwaarden, Uitgaan van niet-negatief
Doelfunctiecel (Waarde van)
Cel Naam Oorspronkelijke waarde Eindwaarde
$J$4 Omzet € 85.000,00 € 95.000,00
Variabelecellen
Cel Naam Oorspronkelijke waarde Eindwaarde Geheeltallig
$F$4 Inzetdagen 9.497 80Vervolg
$H$4 Maximum capaciteit 2.100 2.100Vervolg
$I$4 Opslagpercentage 30 43Vervolg
Randvoorwaarden
Cel Naam Celwaarde Formule Status Speling
$I$4 Opslagpercentage 43$I$4>=$I$4 Bindend 0
$J$4 Omzet € 95.000,00$J$4=95000 Bindend 0
$F$4 Inzetdagen 80$F$4<=80 Bindend 0
$H$4 Maximum capaciteit 2.100$H$4<=2100 Bindend 0

19. This solver belongs to the second calculation of sheet 17.
Guidance through the investment pad of a coach by P. G.
Microsoft Excel 15.0 Antwoordrapport
Werkblad: [Investeringsanalyse.xlsm]Optimum
Rapport gemaakt: 12-4-2016 01:43:53
Resultaat: Oplosser heeft een oplossing gevonden. Alle randvoorwaarden en optimalisatievoorwaarden zijn vervuld.
Oplosser-engine
Engine: GRG Nonlinear
Oplossingstijd: 5,265 Seconden.
Iteraties: 2 Subproblemen: 0
Opties voor Oplosser
Maximale tijd Onbeperkt, Iteraties Onbeperkt, Precision 0,000001
Convergentie 0,0001, Populatiegrootte 0, Willekeurige seed 0, Afgeleiden voorwaarts
Maximum aantal subproblemen Onbeperkt, Max geheeltallige opl Onbeperkt, Geheeltallige tolerantie 1%, Oplossen zonder geheeltallige randvoorwaarden, Uitgaan van niet-negatief
Doelfunctiecel (Waarde van)
Cel Naam Oorspronkelijke waarde Eindwaarde
$J$5 Omzet € 75.430,56 € 158.000,00
Variabelecellen
Cel Naam Oorspronkelijke waarde Eindwaarde Geheeltallig
$F$4 Inzetdagen 80 80Vervolg
$H$4 Maximum capaciteit 2.100 2.100Vervolg
$I$4 Opslagpercentage 43 43Vervolg
$F$5 Inzetdagen 80 80Vervolg
$H$5 Maximum capaciteit 2.400 2.400Vervolg
$I$5 Opslagpercentage 30 64Vervolg
Randvoorwaarden
Cel Naam Celwaarde Formule Status Speling
$I$5 Opslagpercentage 64$I$5>=$I$5 Bindend 0
$J$5 Omzet € 158.000,00$J$5=158000 Bindend 0
$F$5 Inzetdagen 80$F$5<=80 Bindend 0
$H$5 Maximum capaciteit 2.400$H$5<=2400 Bindend 0

20. Purchase, warrantee, residual value and lifetime
 The purchase price of an vehicle is always based on the specification you are asking as entrepreneur, the brand identity and positioning in
the market as well as the recognition.
 The specification is always in line with the policy of the enterprise, because they are know what they are looking for and are familiair with
the deployment of the coaches in general, allthough there is a huge difference between international lines, intercity’s and short distance
transport.
 Most suppliers are offering tailor made repair and maintenance contracts with a international covering, fixed price and parts supply in it.
This is an advantage for big fleets who do not want to rely on different service stations, they want to keep control on their TCO, Total Cost of
Ownership in combination a full covered service Europe wide.
 Finance is arranged by the corporate banks ore the finance companies owned by the distributors/suppliers of the vehicles and are able to
offer individually tailor made leasing/financing solutions for the end customer, which is commonly of more interest than corparate banks
offer.
 The residuale value of A-brand coaches are fixed, because they have a huge network of own traders and contacts all over the world to
dispose second hand vehicles with a high stock rotation. Brands with a strong home market but which are not primarilly focussed on high-
end markets can or wil not give to high trade-in values. A-labelled brands do have their own remarket stores and dealerships and carry this
actively out in their strategy to the market and maintain an leadership position.
Guidance through the investment pad of a coach by P. G.