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Firm Evaluation - Drůbežářský závod Klatovy, a. s.
Böhmová, Dana ; Scholleová, Hana (advisor) ; Mackenzie, Iveta (referee)
The thesis is evaluating Drůbežářský závod Klatovy, a. s. This firm is the second biggest poultry producer in the Czech Republic. Goal of this thesis is to set up price of this firm as of 30th April 2012. To be as conclusive as possible, the evaluation itself is made by two independent methods. The final price is synthesis of both. Concretely speaking, DCF entity method and method of accounting value are used. In the frame of these methods the value for both owners and creditors will be calculated. The incentive for valuation is a possible future sell of the firm to an unknown investor. The thesis is divided into subchapters of Profile of the Firm, Strategical Analysis, Financial Analysis, Value Drivers, Financial Plan and Firm Evaluation.
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Valuation of 2K Czech, s.r.o.
Fiala, Jakub ; Kislingerová, Eva (advisor) ; Štamfestová, Petra (referee)
The objective of the thesis is to estimate the value of 2K Czech, s.r.o., as of 31th December 2011. The thesis is structured into two parts. The theoretical part describes applied methods and valuation approach. Application includes strategic and financial analysis, prognosis of value drivers, financial plan and final valuation using discounted cash-flow method and market comparison method.
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The valuation of the company Měšťanský pivovar v Poličce, a.s.
Dvorský, Aleš ; Scholleová, Hana (advisor) ; Rajdl, Josef (referee)
The aim of the thesis is to determine the objectified value of the company Měšťanský pivovar v Poličce, a.s. The work is divided into theoretical and practical parts. The relevant theoretical aspects of the business valuation are described in the theoretical part, with the focus on the introduction of categories of values, the valuation process, setting the discount rate and the basic forms of DCF models. The financial and strategic analysis, value drivers and the financial plan is composed in the practical part of the thesis. The company is valued using the method DCF Equity to 1.1.2010.
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Business evaluation of the company Metrostav
Koňák, Petr ; Mařík, Miloš (advisor) ; Luxemburk, Patrik (referee)
The aim of my thesis is to estimate market value of the company Metrostav as of December 31, 2008. To achieve this objective several analyses including financial analysis, strategic analysis and analysis of value drivers have been done. Finally, a financial plan has been set up and DCF Equity method of valuation implemented. Market value of Metrostav equity as of December 31, 2008 has been estimated at CZK 10 037 million.
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Business Valuation of BEZNOSKA, s.r.o. as of 31 December 2009
Straňák, Peter ; Mařík, Miloš (advisor) ; Hájek, Rudolf (referee)
This master's thesis deals with the valuation of BEZNOSKA, s.r.o. Situated in Kladno, the Czech Republic, this company engages in the development and production of instruments and implants for bone surgery. The company was established on the basis of the "surgery" division of then POLDI Kladno at the beginning of the nineties, during the "big privatisation" period. The aim of this thesis is to estimate the market value and investment value of the company as of 31 December 2009 as defined in the International Valuation Standards. The valuation is carried out using two basic methods. The focus of the work is based on the DCF method the result of which is verified by a method based on the market analysis, in particular the similar public company method. The book value method is only complementary. The thesis is divided into six chapters. Sequenced logically, it contains the basic information on the company valued, financial analysis, strategic analysis, analysis and forecast of the value drivers, financial plan and the valuation itself based on the method mentioned above. These topical units are further divided into several subchapters as necessary. Various analyses and statistical methods needed to successfully meet the set objective are applied throughout the text.
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Valuation of Rodinný pivovar BERNARD a. s.
Jweidová, Soňa ; Kislingerová, Eva (advisor) ; Scholleová, Hana (referee)
The objective of the thesis is to estimate the value of Rodinný pivovar BERNARD a. s., a small brewery based in Humpolec, Czech Republic, as of 31th December 2010. The thesis consists of two parts. The theoretical parts describes applied methods and approaches, the application part includes company profile, strategic analysis, financial analysis, analysis and prognosis of value drivers, financial plan and final valuation. The company was valued using the DCF Entity method.
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Valuation of CEZ Group
Kmínek, Václav ; Mařík, Miloš (advisor) ; Tůma, Pavel (referee)
The thesis is targeted to a valuation of CEZ Group. The Czech based utility CEZ Group ensures regular production and supply of electricity and other essential products for everyday needs of the population in CEE region. The purpose of presented valuation is to determine whether the shares of these publicly traded company are correctly valued and that there exists any upside or downside potential. The final valuation is primarily determined by using two well-known valuation approaches -- discounted cash flow (based on operating profit analysis) and peer group analysis (based on market analysis). In order to provide a full range of understanding, the thesis consists of eight main parts focused on company profile, strategic analysis, financial analysis, value drivers, financial plan, minorities and final valuation. Further, all these parts are split up into few sections. Conclusion of the thesis includes an investment recommendation.
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Valuation of energetic company
Hradecký, Jindřich ; Marek, Petr (advisor) ; Brabenec, Tomáš (referee)
The main objective of this diploma thesis is a business valuation of company Pražská energetika, a.s. The aim of this assignment is to indicate the market value as of 1/1/2009. The appraisal is carried out by means of income method DCF in Equity version. In addition, there is a comparison with direct evaluation, where the data are taken directly from the capital market. The thesis is divided into eight chapters, which deal subsequently with basic characteristics, methods of how the strategic and financial analysis has been carried out, value drivers prediction, as well as separation of non-operating assets and calculation of discount rate including the final evaluation. The methods used are mostly similar to methods stated in publications by Miloš Mařík. The results of this appraisal could be useful for small investors, who consider buying or selling stocks of this company.
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Business Valuation of BERNARD Family Brewery
Voplakal, Tomáš ; Mařík, Miloš (advisor) ; Hejduková, Markéta (referee)
The thesis consists of a business valuation of BERNARD Family Brewery, a brewery headquartered in the town of Humpolec and belonging to a group of several smaller breweries (related to its size). In 2001, top management decided to finance its company growth through venture capital. The main objective of this thesis is to indicate the market value as of 1/1/2009 by utilizing appraisement measures in accordance with International Valuation Standards (IVS). The business valuation is primarily determined using two well-known valuation approaches - adjusted present value method (based on income analysis) and comparable companies analysis (based on market analysis). In addition, the use of advanced statistics is applied when needed. The purpose of this assessment is to find an appropriate value for owners and other third-party stakeholders. In order to provide a full range of understanding, the paper consists of six main parts that involve a company profile, strategic analysis, financial analysis, value drivers, financial plan and a final valuation. Further, all these parts are split up into few sections.
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