Χρηματοοικονομική ανάλυση και αποτίμηση : μελέτη περίπτωσης CCHBC
Financial analysis and valuation : case study of CCHBC
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Subject
Χρηματοοικονομική ανάλυση ; Αριθμοδείκτες ; Ρευστότητα (Οικονομική) ; Αποδοτικότητα ; Αξία ; Κίνδυνος ; Financial analysisKeywords
Κεφαλαιακή διάρθρωση ; Βιωσιμότητα ; Αποτίμηση ; Ratios ; Profitability ; Liquidity ; Efficiency ; Business valuation ; Value ; RiskAbstract
In recent years, entrepreneurship presents significant changes as a result of global economic and business environment changes. In a continuously evolving and volatile environment, achieving a smooth financial operation is essential and necessary for any company which is interested in improving its performance and ensures viability.
Financial analysis, as a tool for conducting basic microeconomic research, enables us to reach conclusions about the properties of business and through them to be led in making business and investment decisions.
The valuation process holds a prominent position in finance. Through valuation, we can estimate the value of a business in the future. Specific methodologies penetrate the complex problems of entrepreneurship and face them in rational, realistic and scientific contexts. However, the main purpose of valuation is to enable us to evaluate the future impact of current decisions and statements so as to distinguish the upcoming financial position of the company.
The object of this thesis is to constitute the fundamental stock analysis and the application of valuation methods with extensive analysis of key financial ratios. To achieve this, the paper is divided into four sections. The company which selected to be analyzed with internationally accepted methods is Coca Cola HBC. The choice of this company was mainly for two reasons: first, because it is listed on the Athens Stock Exchange and secondly, because it holds significant market shares in a competitive industry.
The purpose of this thesis is to provide a summary of the main financial ratios and major business valuation methods which have been used in recent decades. The basic concepts related to financial analysis and valuation are developing. Special attention is given to the results which derived from the Financial Ratio Analysis and the application of Discount Dividend Valuation Model.