Determinación de la estructura de financiamiento optima paras san camilo comercializadora de granos S.A.

Abstract

CONDITION FOR PUBLICATION OF PROJECT. San Camilo S.A. Grain Trading Company, an Ecuadorian firm in the agribusiness sector and part of the Ecuaquímica S.A. group, has since 2010 assumed a pivotal role in grain production and commercialization, as well as in animal nutrition. Initially concentrated on the cultivation and supply of raw materials such as corn, soybean, and wheat, the company expanded in 2024 to operate its own feed plant for poultry, swine, and cattle, thereby consolidating its vertical integration. The sustained growth of the company, together with the incorporation of this new business line, has significantly altered its financial structure, revealing a pronounced reliance on short-term debt, with an average leverage ratio of 86% between 2021 and 2024. In view of forthcoming investments, including the establishment of a pet food processing plant, the firm faces the challenge of defining a capital structure that enables continued expansion without undermining its financial stability. The purpose of this study is to determine the optimal capital structure of San Camilo S.A., through a comprehensive evaluation of its financial situation, an analysis of the principal financing theories, and the application of a methodology designed to guide strategic decision-making. The ultimate objective is to maximize profitability, mitigate risks, capitalize on tax advantages, and ensure long-term sustainability, while at the same time providing a reference model for other companies within the sector.