Hodnocení finanční výkonnosti podniku v cyklickém odvětví

Abstract

Nowadays, especially in connection with development of market environment is attention paid to transition process from traditional methods of performance measuring to modern forms of measurement for example cconomic value added, which is accepted by companies. The aim of the thesis is to evaluate the financial performance of the company, which operates in the cyclical industry for the period 2009 -2013. Analyzed company is the company VÚHŽ a.s., which focuses on small-lot metalurgicall production and production of measurement, regulation and automation technology for industry and at the same time also realizes the services in the area of research and development of new materials and technologies. The thesis is divided into five chapters, the first chapter is an introduction and the last conclusion. The second chapter includes a description of the methodology for assessing financial performance, characteristics of selected indicators of financial analysis and comprehensive models for evaluating financial performance. There are also specified methods for calculating the cost of capital and economic value added including the pyramid decomposition of indicators EVA and sensitivity analysis. The third chapter contains introduction of the VÚHŽ a.s., for which financial statements are evaluated first using horizontal and vertical analysis. Followed by the assessment of the financial situation of the company using selected financial ratios and selected rating and default models. Then the cost of capital is quantified, economic value added is calculated and at the end of the chapter is pyramidal decomposition and sensitivity analysis of EVA. The fourht chapter is dedicated to the overall evaluation of the results of the analysis.