Hodnocení investičního projektu ve vybraném výrobním podniku

Abstract

This diploma thesis deals with the evaluation of an investment project in a selected manufacturing company that has long operated in leased premises. The aim of the thesis is to assess the economic efficiency of an investment plan involving the transition from a rental model to ownership of production infrastructure through the construction of a new production and storage hall, to evaluate the sensitivity of the project to changes in key input parameters, and to formulate recommendations for management decision-making. The theoretical part defines the main concepts of investment decision-making, financing sources, cost of capital, and selected dynamic methods of investment appraisal and risk analysis. The practical part is based on the company’s internal accounting and operational data for the period 2021–2025, with 2025 used as the reference year for model construction. The economic evaluation is based on incremental Free Cash Flow to Firm (FCFF) calculated as the difference between the zero variant and the investment variant involving the construction of a new hall. The project is evaluated using Net Present Value (NPV), Internal Rate of Return (IRR), Profitability Index (PI), and Discounted Payback Period (DPP). The thesis also includes scenario analysis, sensitivity analysis, and break-even analysis. The results show that the base investment scenario is not economically viable, while the optimistic scenario confirms the possibility of economic acceptability under more favorable assumptions regarding key input parameters. At the same time, the thesis identifies the most significant project risk factors, particularly the investment intensity of the construction part, the growth rate of revenues, and the development of operating costs. The main contribution of the thesis lies in the creation of a transparent economic evaluation model that can serve as a support tool for managerial decision-making in the company.