Brewery business valuation

The presented master thesis aims to estimate the equity value of the company PIVOVAR SVIJANY, a.s. as of 31.12.2011. The value is estimated using income approach, specifically the DCF entity method. The introduction section presents the motives for the valuation and the applied approach. The theoretical part addresses the basic concepts and approaches, which are fundamental for the selection of an appropriate valuation method and the value estimate itself. The practical section deals with strategic and financial analyses of the company, financial plan forecast and the business value estimate. In conclusion, the key findings of the individual sections are summarized. The results of the analyses confirm excellent financial standing of the company, which has been valued at CZK 2 739 663 thousand