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Valuation Fortuna Entertainment Group NV
Lernerová, Lucie ; Štamfestová, Petra (advisor) ; Fazekaš, Michal (referee)
This thesis focuses on the valuation of the Fortuna Entertainment Group NV, which is leader in sports betting market in central Europe. Analyzing, describing and predicting methods are used for determination the adequate corporate value. The master´s thesis defines theoretical framework, which is a starting point for finding the value of the company. The basic used methods include PESTLE analysis describing factors, which affects Fortuna externally, Porter´s five forces analysis characterizing internal factors, financial analysis capturing financial condition and financial plan created as support for the valuation. For the valuation purposes author assumes functioning of the group based on going concern principle, therefore the yield methods, specifically DCF entity, are used. Using the identified assumptions and methods in this thesis the value of the group at 31th December 2014 is established. The calculated value of the Fortuna exceeds market value resulting from market capitalization. This fact is presumably caused by different level of information used for each of these methods.
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