Stanovení hodnoty firmy v odvětví stavebního průmyslu

Abstract

The aim of thesis is judge financial and economic situation in a construction company Metrostav a.s. and determine its market value to 1st January 2009 by means of selected methods, which is the methods of discounted cash flow DCF-Entity and DCF-Equity and method of economic value added, as well Entity and Equity. The three-phase variation will be used for all methods and it is supposed, that the first phase will last four years, the second phase will last three years and the third phase will last since the eight year to the infinite. The reason for the valuation of the company is the fact that the management of the company plans in the future to use bank loan to rebuild its tangible and intangible fixed assets. The first chapter is engaged in common basis of valuation of the company with the inclusion of a description of valuation’s process. Next two chapters are devoted to application part. The second chapter creates the characteristic of construction company and also the characteristic of building industry. In this chapter there is also strategy analysis. The third chapter is engaged in valuation by means of selected methods and their comparison. In this chapter there is also financial analysis and a long-term financial plan of the balance sheet and the plan of the profit/loss account.