Ocenění akciové společnosti v odvětví výroby nealkoholických nápojů

Abstract

The aim of the thesis is the valuation of the company Kofola Československo a.s. and to establish its market value. The valuation of the company was made by a two-phased method of DCF-Entity and EVA-Entity. By accouting method was calculated equity value and then was compared with the values obtained using yield methods. The thesis is divided into five main chapters, where the first chapter is introduction and final chapter is conclusion. The second chapter describes theoretical aspects of valuation, which will be apllied in this work. There are also described individual methods of valuation and at the end of this chapter is described sensitivity analysis. In the third part is characterized Kofola Československo a.s. and its strategic analysis, financial analysis and also company‘s financial plan. Part of the third chapter is dedicated to the description and construction of the models in reference to the relevant research papers. The fourth chapter is devoted to the valuation of the company by means of selected method. The fourth chapter also contains final evalution of the results achieved, moreover results of the risk analysis using the sensitivity analysis are obtained.