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Prerequisites of successful reorganization of the company MOTORPAL, a. s.
Bejčková, Radka ; Schönfeld, Jaroslav (advisor) ; Smrčka, Luboš (referee)
This thesis focus on the insolvency proceedings, which were performed in the company MOTORPAL, a. s. During more than seventy years of its history, this company built its strong position on foreign markets in the area of production of fuel injectors for diesel engines and also now belongs between the largest employers in the Region of Vysočina. Constantly deteriorating financial situation forced the owners of the company to take strong measures to restore the company, which led, with the support of secured and unsecured creditors, to preparation and drawing up of reorganization plan. The plan was attached to insolvency application of the company, which meant that company chose the pre-packed reorganization as a way how to solve its bankruptcy. The thesis analyzes the main steps of whole process and highlights all the prerequisites which led to successful completion of this insolvency proceedings and to renewals of financial stability of this traditional Czech manufacturing company.
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Analysis and valuation of the company GMF Aquapark Prague a.s.
Pešková, Barbora ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
This diploma thesis deals with methods and options of valuation of companies.An integral part of the valuation is also financial analysis, strategical analysis and financial plan for year 2015 - 2019. The aim is to valuate a specific company GMF Aquapark Prague a.s. which is an entrepreneur of water park in Čestlice near Prague. I used to valuation by discounted cash flow method and economic value added method. The company is valuated to date 31. 12. 2014.
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Successful vs. failed reorganization
Kovář, Ondřej ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
The Master's Thesis is focused on reorganization as bankruptcy solution according to Act No. 182/2006 Coll., Bankruptcy and Settlement (Insolvency Act), as amended. With a usage of comparison method, it analyses two specific insolvency proceedings which were solved in past and on the basis of their mutual comparison identify important factors that were crucial to determine different results of the proceedings. The main goal of the thesis is to uncover the factors affecting the insolvency proceeding positively or negatively. In first theoretical part there is the analysis of Insolvency Act. The results and knowledge gained in the first part are applied to a comparison in the second one where various data from financial reports and index IN05 are used. These values together with IN05 model are applied as a reflection of important moments which had underlying influence on reorganization process result. In the end of the thesis there is the summary of all gained facts and also different important negative and positive factors are revealed. The thesis shows that it is very difficult to anticipate the result of reorganization for external subject.
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The Valuation of AVG Technologies N.V.
Žunkánová, Barbora ; Kislingerová, Eva (advisor) ; Schönfeld, Jaroslav (referee)
The aim of this thesis is to estimate the market value of specific company as of 31. 12. 2015 based on Discounted Cash Flow method and Multiples method for potential investors. The thesis is divided into two parts, theoretical part and practical part. The first part describes the basic concepts necessary for valuation of the company and it gives the bases for practical part. The second part is focused on the introduction of the company, strategic and financial analysis and forecasting of value drivers, financial statements and final valuation of the company.
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Corporate restructuring
Revaj, Eduard ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
This thesis deals with the development of the bankruptcy laws in the Czech lands. Thesis discusses the post-revolutionary period, in which centrally planned economy in the Czech Republic returned to market economy. It is discussing critique, shortcomings and amendments of bankruptcy law formed in 1991 by law on the Bankruptcy and Arrangements. The complete change of imperfect legislation followed in a form of Czech Insolvency Act. It addressed critique from the professional community and international institutions led by European Central Bank. Thesis approaches and clarifies issues surrounding new Insolvency Act. It brought a remediation solutions for bankruptcy, especially restructuring, that was lacking in Czech legislation until then. The concrete case of enterprise restructuring of company CP Praha, s.r.o. is discussed in practical part. It evaluates the procedure, satisfaction of creditors and overall assessment of the whole process.
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Strategic analysis of Vodafone Czech Republic a.s.
Mašek, Karel ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
The aim of this thesis is to design a strategy for Vodafone Czech Republic, a.s. Using the open data an analysis of macroenvironment as well as microenvironment are performed, where a definition and a breakdown of telecommunication market into five segment is made. Following is the analysis of Porter five forces, which analyses competition forces on the market as well as to the Vodafone. Further on a financial analysis and product portfolio analysis is made, which serves as the basis of Ansoff matrix. In the conclusion a synthesis of the analyses is made and several strategies are designed.
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The Bankruptcy of the FEREX-ŽSO spol. s r.o.
Procházka, Martin ; Schönfeld, Jaroslav (advisor) ; Smrčka, Luboš (referee)
This thesis is focused on the solution of the corporate bankruptcy. Its goal is not only to determine the causes of the bankruptcy of FEREX ŽSO spol. s r.o. after successful completion of the reorganization, but also to assess the suitability of the chosen method of solution in terms of the Insolvency Act. The work is divided into theoretical and practical part. The theoretical part describes the life cycle of an enterprise, important parts of the insolvency law and financial analysis methods. In order to meet the goals there are used financial analysis, analysis of the insolvency proceedings and comparison with results of researches in the field of insolvency.
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The Valuation of the Company PCA Slovakia, s.r.o.
Moravčíková, Simona ; Heřman, Jan (advisor) ; Schönfeld, Jaroslav (referee)
The aim of this thesis is to estimate the value of the company PCA Slovakia, s.r.o. to the 31st December 2015. The thesis is divided into two parts, in the concrete the theoretical and practical parts. The theoretical part describes the basic concepts necessary for the valuation of the company and it is kind of the point for the practical part. On the other hand, the practical part is focused on the introduction of the company and the application of strategic analysis and financial analysis, the prognosis of revenue and other value drivers, financial plan and finally the actual valuation of the company. There was used the DCF method of valuation in the term of FCFF and EVA for the valuation of the company.
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Financial analysis and valuation of Feroplast spol. s r.o. company
Ondráček, Jakub ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
The main object of the master's thesis is to provide a description of the firm valuation methods employed in this field at the moment and also to apply some of these techniques to determine a value of the chosen company. The main part of the thesis is mostly concentrated on the characteristics of the discounted cash flow methods that are viewed as most commonly used. However, a brief introduction of accounting-based methods as well as relative valuation methods is included. For the purposes of valuation of the Feroplast spol. s r.o. company, the earnings-valuation methods were applied, namely the discounted cash flow methods based on FCFF and EVA and also the method of capitalised net revenues. The results these methods provide can vary and as such shall be compared and analysed. Before the valuation itself, however, it is necessary to perform financial and strategic analysis that represent substantial part of every valuation.
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Analysis of debt capacity of the enterprise
Gajdošech, Michal ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
The goal of this thesis ,,Analysis of debt capacity of the enterprise,, is to analyze the debt capacity of company DŠP, focusing on project and financial guarantees as part of DG with respect to planned growth. The analysis also includes the view of financial institutions to credit risk and assessment of the indicative debt capacity of the company. This analysis is primarily supported by Moody's methodology of heavy manufacturing industry. First part of the thesis is focused on the introduction of the company DŠP and its current situation and reasons why I chose this topic. The theoretical part is devoted to general information about debt capacity,methodological apparatus and the view of bank on the company. The practical part begins with an analysis of the debt capacity in various scenarios. Based on this, I used a sensitivity analysis of the debt capacity of the main risk factors. The last part of practical section consists of benchmark comparisons. Achievements and insights are summarized at the end of the entire thesis.
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