Horizontal Analysis

Σκοπός της παρούσας διπλωματικής εργασίας είναι η μελέτη του οινοποιητικού κλάδου, μέσα από τη χρηματοοικονομική ανάλυση των οικονομικών επιδόσεων οινοποιητικών επιχειρήσεων της Ελλάδας και της Ιταλίας κατά την περίοδο 2017-2021. Η μελέτη περιλαμβάνει τη χρηματοοικονομική ανάλυση οκτώ εταιρειών της Ελλάδας και της Ιταλίας. Η συλλογή των απαραίτητων πληροφοριών και χρηματοοικονομικών καταστάσεων πραγματοποιήθηκε κυρίως από το Γενικό Εμπορικό Μητρώο της Ελλάδας και τις επίσημες ιστοσελίδες των εταιρειών. Η αξιολόγηση περιλαμβάνει οριζόντια και κάθετη ανάλυση, ανάλυση τάσεων, ανάλυση επιλεγμένων αριθμοδεικτών για τη ρευστότητα, τη δραστηριότητα, την αποδοτικότητα και την κερδοφορία, καθώς και αξιολόγηση της πιθανότητας εμφάνισης χρηματοοικονομικής δυσχέρειας. Από την ανάλυση προκύπτουν ενδιαφέροντα συμπεράσματα. Εμφανής είναι ο αντίκτυπος της υγειονομικής κρίσης στις πωλήσεις, όπου καταγράφεται μείωση. Επιπλέον, καταγράφεται επιδείνωση σε μέσους όρους του μικτού, λειτουργικού και καθαρού περιθωρίου κέρδους. Το 2021, με την άρση των περιοριστικών μέτρων σημειώνεται αύξηση των πωλήσεων και βελτίωση σε μέσους όρους του μικτού, λειτουργικού και καθαρού περιθωρίου κέρδους. Όλες οι εταιρείες ανακυκλώνουν τα αποθέματα τους και εισπράττουν τις απαιτήσεις τους πιο αργά από την εξόφληση των εμπορικών τους υποχρεώσεων, οδηγώντας σε ανάγκη χρηματοδότησης για την συνέχιση της ομαλής λειτουργίας τους. Οι δύο ιταλικές εταιρείες, λόγω αργής κυκλοφοριακής ταχύτητας αποθεμάτων, έχουν ανάγκη χρηματοδότησης το 2021 άνω των 700 ημερών. Οι περισσότερες έχουν ικανοποιητικούς δείκτες βραχυπρόθεσμης και μακροπρόθεσμης φερεγγυότητας καθώς και χαμηλή πιθανότητα πτώχευσης. Μια εταιρεία αντιμετωπίζει υψηλή πιθανότητα και μια ακόμη βρίσκεται στη γκρίζα ζώνη. Τέλος, διαπιστώθηκε διαφοροποίηση μεταξύ των εταιρειών όσον αφορά την πολιτική των επενδύσεων και την πολιτική χρηματοδότησης. Όσον αφορά την πολιτική επενδύσεων, τρεις χαρακτηρίζονται, σε μέσους όρους, ως έντασης παγίων περιουσιακών στοιχείων και οι υπόλοιπες πέντε ως έντασης κυκλοφορούντων. Όσον αφορά την ασκούμενη πολιτική χρηματοδότησης, σε μέσους όρους, πέντε χρηματοδοτούν τη λειτουργία τους κυρίως με Ίδια Κεφάλαια, υποδηλώνοντας άσκηση μιας πιο συντηρητικής πολιτικής. Ενώ, από τις τρεις, που χρηματοδοτούν τη λειτουργία τους κυρίως με Ξένα Κεφάλαια, μόνο η μία σημειώνει εξαιρετικά υψηλό βαθμό εξάρτησης.

The purpose of this thesis is to study the wine industry, through the analysis of the financial performance of wine companies in Greece and Italy during the 2017-2021 period. The study of eight companies in Greece and Italy. The collection of the necessary information and financial statements was carried out mainly from the General Commercial Registry of Greece, the official websites of the respective companies as well as public information available on the internet. The assessment incorporates horizontal and vertical analysis, trend analysis, ratio analysis, as well as an assessment of the likelihood of financial distress. The analysis yielded interesting conclusions. The impact of the health crisis on sales is evident, where a decrease/decline is recorded. Additionally, on an average overview it appears that the gross, operating and net profit margins deteriorated. In 2021, with the lifting of the restrictive measures, there is an increase in sales and an improvement in the averages of the gross, operating and net profit margins. All companies recycle their inventory and process their receivables at a slower rate when compared to that of paying their trade expenditures. This result to a need for additional operational financing in order to continue running operations smoothly. The two Italian companies, due to slow inventory turnover, have a financing need that exceeded 700 days in 2021. Most companies have satisfactory indicators of short-term and long-term solvency as well as a low probability of bankruptcy. One company faces a high probability and another is in the gray zone.
In closing, a differentiation was identified between the companies in terms of investment policy and financing policy. In terms of investment policy, three are characterized, on average, as fixed assets intensive and the remaining five as current assets intensive. Regarding the applied financing policy, on average, five finance their operation mainly with Equity, indicating a more conservative policy. While, of the three, which finance their operation mainly with Foreign Funds, one notes an extremely high degree of dependence.

Sinopse: O objetivo deste artigo é analisar a influência de variáveis externas sobre as demonstrações contábeis, especificamente, evidenciar alguns acontecimentos econômicos, sociais e climáticos. Ao mesmo tempo, analisam-se as demonstrações contábeis do exercício de 2002 a 2006 da Cooperativa de Crédito Rural de Lucas do Rio Verde -Sicredi Ouro Verde e verifica-se qualitativamente o impacto das variáveis econômicas e climáticas sobre essas demonstrações. Para atingir esse objetivo estuda-se a base científica e teórica sobre a origem da contabilidade, os princípios fundamentais da contabilidade, a estrutura das demonstrações contábeis e a auditoria e análise de balanços. Na pesquisa das variáveis econômicas, sociais e climáticas, opta-se por avaliar o produto soja, base econômica do Município, compreendendo seu preço, produtividade, além do valor do dólar e do clima durante o período de investimento (plantio) e de produção (colheita). As demonstrações contábeis foram padronizadas para efetuar a análise por meio de índices e a análise vertical e horizontal. Verifica-se qualitativamente se as variáveis pesquisadas influenciaram os indicadores contábeis e o valor absoluto dos resultados. Os resultados da pesquisa demonstram que os acontecimentos sociais, econômicos e climáticos, influenciam as demonstrações contábeis, pois devido à conjuntura desfavorável das variáveis pesquisadas a partir do ano de 2004, os indicadores contábeis passaram a não ter o mesmo desempenho dos anos anteriores.

Prohlašuji, že jsem svou bakalářskou práci vypracoval samostatně. Dále prohlašuji, že jsem všechny použité zdroje správně a úplně citoval a uvádím je v přiloženém seznamu použité literatury. Nemám závažný důvod proti zpřístupňování této závěrečné práce v souladu se zákonem č. 121/2000 Sb., o právu autorském, o právech souvisejících s právem autorským a o změně některých zákonů (autorský zákon) v platném znění.

Předmětem bakalářské práce „Podnikatelský záměr rozvoje podniku“ je vyhodnotit záměr podniku na výstavbu konzervárny krmiv pro domácí zvířata a navrhnout finanční plán jeho realizace včetně možností financování. Obsahuje teoretické poznatky z oblasti investičního plánování a financování, analýzu současné situace a návrh na realizaci projektu. Práce by mohla sloužit jako podklad pro žádost o bankovní úvěr.The subject of bachelor’s thesis "The business plan of development" is to evaluate the business plan of company for the building-up of the pet food cannery and suggest the financial plan including possibilities of financing. It includes theoretical knowledge in the range of investment planning and financing, analysis of the current situation and proposal for implementation of the project. The work could be instrumental in an application for a bank loan.

Cílem bakalářské práce je zhodnocení finanční situace společnosti Ostroj, a. s. za pomoci metod finanční analýzy v letech 2011 – 2015. Bakalářská práce je rozdělena do pěti kapitol. První kapitolou je úvod a poslední pátou kapitolu závěr. V teoretické druhé kapitole jsou popsány metody finanční analýzy. Do metod finanční analýzy lze zařadit horizontální analýzu, vertikální analýzu, poměrovou analýzu a s ní spojený pyramidový rozklad s analýzou odchylek a analýzou citlivosti. Třetí kapitola charakterizuje vybranou společnost Ostroj a. s.. Ve čtvrté kapitole jsou aplikovány metody finanční analýzy, které jsou popsány v teoretické části. V závěru bakalářské práce jsou výsledné hodnoty finanční analýzy zhodnoceny.The aim of the bachelor thesis is to evaluate the financial situation of Ostroj, a. s. by aplying of methods of financial analysis in 2011 - 2015. The bachelor thesis is divided into five chapters. The first chapter is the introduction and the final fifth chapter is the conclus...

o o objetivo do estudo é relatar o desempenho social de uma instituição religiosa, realizado mediante a análise do respectivo balanço social. o tema central da pesquisa envolve a análise da possibilidade e potencial de utilização do balanço social como instrumento de transparência das atividades desenvolvidas em uma congregação religiosa em meio à sociedade e ao meio ambiente. isso significa enfocar as informações que podem ser extraídas a partir da estrutura do balanço social. É um estudo exploratório, descritivo e qualitativo, realizado por meio de pesquisa documental. a metodologia de coleta de dados envolve exame do balanço social da instituição, relativo ao período de 2005 a 2009. a análise horizontal é o procedimento básico, cujos dados são apresentados em valor monetário absoluto e respectiva variação percentual anual e do período. os principais achados da pesquisa confirmam que o balanço social é um instrumento de transparência de informações da entidade para a sociedade. a análise dos dados evidencia que há uma expressiva e constante melhoria em todos os 14 indicadores utilizados, sejam eles financeiros ou não financeiros, ratificando o cumprimento da missão social da instituição.

Atualmente, em todos os segmentos da sociedade tem-se discutido incessantemente questões de como melhorar a relação entre empresa e comunidade. Por causa dessa preocupação e para dar maior clareza e transparência nas informações financeiras, criou-se um relatório ...

V bakalářské práci bude zhodnocena finanční situace podniku KoHal, s.r.o. za roky 2015-2019. V teoretické části jsou popsané metody, které budou použity pro zjištění finančního zdraví. V analytické části uvedené metody aplikujeme na údaje získané z účetních dokladů pro posouzení aktuálního stavu podniku. V reakci na výsledky budou v návrhové části doporučené řešení pro zlepšení.Financial analysis, vertical analysis, horizontal analysis, profitability, indebtedness, liquidity, aktivity, set of indicators, SWOT analysis This bachelor thesis will evaluate the financial situation of selected company KoHal, s.r.o. through year 2015-2019. There are described methods in theoretical part, which are going to be used for determination of financial prosperity. In analytical part shown methods will be aplicated on information gathered from accounting documents for evaluation of its curent situation. According the calculations there are going to be recomendations for improvement.

First, this report qualitatively analyses the financial statements of Heathrow Airport Holdings Limited over the period 2009-2013, by studying and analysing the trends of the Profitability Ratios, Efficiency Ratios, Liquidity Ratios, Gearing Ratios, Horizontal Analysis and Vertical Analysis. Here, we shall also consider the macro-environmental factors that may impact the financial performance of the company, by using the PESTLE (Political, Economic, Social, Technological, Environmental and Legal) Analysis framework.

Heathrow Airport Holdings Limited (formerly BAA Limited), is a UK based operator, owning and managing airports and an aviation hub in Heathrow, Aberdeen, Glasgow and Southampton.

The pragmatic research objective of this report is to assess the financial status of Heathrow Airport Holdings Limited, and to analyse the implications of the company’s proposal for a third runway at the London Heathrow airport.

The London Heathrow Airport, Europe’s busiest airport, is operating at 98% of its capacity. The London Heathrow Airport’s main concern is the lack of runway capacity, which can be provided by the expansion plan.

Last, this report will conclude with sustainable solutions and recommendations to improve and strengthen the financial situation of the company.