Στρατηγική ανάλυση και επιπτώσεις στην απόδοση εταιρικών εξαγωγών - Μελέτη περίπτωσης εξαγοράς Μεβγάλ ΑΕ-Δέλτα ΑΕ
Strategic analysis and implications for corporate export performance - Case study of Mevgal SA-Delta SA
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Keywords
Γαλακτοβιομηχανίες ; Εξαγορά ; Στρατηγική ανάλυση ; ΑριθμοδείκτεςAbstract
This thesis examined the acquisition of MEVGAL SA. from DELTA SA and assessed its effects on the financial and operational performance of the two companies. The study was based on both market data and the balance sheets of the two companies before and after the takeover (2018), analyzing financial ratios for the main aspects of their operation (efficiency, liquidity, activity and capital structure).
Overall, the financial analysis showed a significant improvement in the consolidated balance sheets of both companies from 2018 onwards, which is due to the significant synergies between the two companies that took place during this period and until 2021, when DELTA re- sale of MEVGAL.
In particular, the main conclusion of this paper was the fact that this specific acquisition was a key saving move for MEVGAL, which, although profitable, was nevertheless facing significant capital adequacy problems, having at the same time high levels of borrowing, with the consequence that its situation significantly improved from 2018 onwards and the acquisition of its part by DELTA.
For its part, DELTA also benefited to a significant extent from its synergies with MEVGAL, a fact which was reflected in the majority of the indicators above, with the peak moment being its return to profitability in 2021, when it decided once again to proceed with the sale of MEVGAL, focusing on collaborations in the field of the dairy industry with the company DODONI.