Stanovení hodnoty výrobního podniku

Abstract

The aim of the diploma thesis is to determine via selected methods the value of Sutra, the manufacturing company, up to 1st January 2011. Other goals of this diploma thesis were: execution of financial analysis of Sutra joint-stock company (analysis of ratio and absolute indicators, reliability index, credibility and bankruptcy models), furthermore execution of selected methods of company liquidity. Last but not least to determine the value of the company on the basis of evaluated indicators and employed methods. The resultant value of the company was communicated to Sutra representatives and relevant recommendations were presented.

The theoretical part of the thesis is focused on the problem and methods of company valuation and it is supposed to explain theoretical and general terminology, sources, application and difficulties of company valuation. This part of the thesis serves to describe reasons for company valuation, value of the company, categories of value, application of basic approaches leading to valuation and methods for financial company valuation.

The practical part of the thesis covers the analysis of Isotra, joint-stock company, environment; followed by execution of financial analysis through horizontal and vertical analysis, selected ratio indicators, bankruptcy and prediction models. Necessary data for above-mentioned analysis are based on financial statements from 2006 – 2010. Each analysis comes with a commentary that explains collected results. On the basis of afore-mentioned entities the financial plan for a period 2011 – 2015 was created; it serves as the background for calculation of company value through selected method. The final step of the practical part was the sole calculation of manufacturing company value.

The final part of the diploma thesis is intended for evaluation of the whole practical part, the collected results of environment and financial analysis are processed and further employed in order to state orientalise prognosis of possible future development of Sutra, joint-stock company and several recommendations for increasing the value were also suggested.