Services:

Company management

We provide:

1) Real estate valuation,

Companies take part in specific processes regarding whole companies or their parts in a market economy. These processes include a company purchase and sale transactions or assets collection, a structural transformation  (consolidation, distribution, liquidation) or restructuring

Estimation of the company  value or particular assets is a complex issue. Many non-homogenous elements  are part of examined value, these can be easily measurable indicators (for example fixed assets). Assets which are difficult to do without suitable experience and skills (for example intangible elements) are also examined.
What is more, it is necessary to keep in mind the fact of organizational and legal diversity solution of business and development of virtual unit, which value is only based on intangible elements.

The above considerations contribute to the usage of wide spectrum of methods, which limit the risk of making mistake and make defining of the company actual value or single component of assets with possible high accuracy.

Many valuation methods are used in the process of business entities . These methods consist of: simple methods which are based on tangible elements (so called financial method). There is also a group of complex methods which are based on the ability of company to generate income in the future (so called profitable methods) and those which use among other things exchange quotation action (so called market methods).

We evaluate companies, property right (licence, patents) company shares and actions according to methods which are appropriate for particular valuation aim i.e.

• a purchase and a sale transaction of whole or part of the company
• Initial Public Offering (IPO)
• an identification of growth factors in the company's value
• strategic decisions concerning the business
• Income Tax (inheritance and donation)
• settlements and disputes between shareholders, claims and compensatory cases
• a contribution  of the company to another company
• an employee shareholding plan

When we value we consider influence of a company size, a degree of control by different stakeholder (minority shareholding or controls), liquidity of actions and share of enterprise and potential synergy effects which are possible for a strategic investor. We have standard valuation procedures for fixed price for medium-sized company in situations where costs of making valuation can be important.

Depending on the aim and complexity we prepare valuation which is based on methods:

• financial methods ,including:
• net book value method
• adjusted net asset value method
• liquidation method
• reconstruction method

Profitable methods, including:

• Discounted Cash Flows method (DCF)
• discounted profits method
• discounted dividend method
• adjusted present value method

Mixed method, including

• German method
• Swiss method
• Stuttgart method
• UEC method

Comparative method (market), including:

• multiplier method (including multiplier for Internet companies)

Value creation methods, including:

• economic value added method  (EVA)   
• economic profit method (EP)
• cash value added  method (CVA)   
• Cash Flow Return On Investment  Method  (CFROI)

Methods based on real option, including:

•  methods based on Black Scholes Model
• methods based on investment options
• methods based on project development

A competent selection of these methods influences valuation efficiency. These methods are suitable from the viewpoint of a particular valuation aim and a specific situation of examined subject.

We offer:

• a competent and professional service
• a short order delivery date
• a compatibility of prepared study with the highest international standards

2) Business plans,

3) Financial company analysis,

Well planned purchase, merger or a company sale transaction, LBO or MBO can cause financial troubles to managers and decision-makers. Struggle with spreadsheet, formulas, searching mistakes and incoherence can be difficult. Preparing business documents (business plan) connected with mark-up or obtaining financing for new business enterprise can be time-consuming and complicated for small and medium-sized companies.

Giving advice on company sale transactions or organizing financing we have full infrastructure which supports financial data processing and advanced analytic instruments. Standard prepared business studies include:

• the  business plans
• the executive studies(opportunity, pre-feasibility, feasibility studies)   
• the investment memorandum
• the transaction documentation
• the complex financial analysis
• the financial and forecasting  stimulation 
• the valuation of the investment projects effectiveness 
• the restructuring analysis (restructuring memorandum)
• the analysis and internal reports for Board

We offer:

• outsourcing of the company competence for a  medium sized company’s financial projection
• making complicated calculations and calculations which are connected with company financial calculations in  smooth, fast and perfect way
• fast changes and modifications on the changing assumption (sensitivity analysis)
• simulations and modifications in different assumption variants (scenario planning) 
• legible way of information presenting and financial data – English version and other     versions after prior agreement (we cooperate with translation companies)
• hassle-free data transfer into business plans, presentations and other necessary documents

4) Property valuation for statement of financial need, among other things:

• determining initial value of fixed assets and intangible assets received for free of charge use or use in non-pecuniary form,
• revaluation of fixed assets consequent impairment when it is not possible to establish a  net sale price
• determining property valuation as fixed assets in construction including valuation of incomplete construction work and making stocktaking and turnover of works performance,  
• determining production costs of component parts of property as fixed assets in case when it cannot be fixed based on historical cost or a  net sale price,
• periodical determining value of investment property which constitutes capital investment, with particular attention to properties which constitute deposit of life insurance company or other subjects acting in similar sector,
• determining value of fixed assets and  intangible assets of  the company which was taken over by merger of companies with acquisition method

© Certified Property Valuer Marek Wiśniewski

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