Equity valuation P/F Bakkafrost
Bakkafrost is one of the most efficient salmon farmers in the industry, and the farming conditions on the Faroe Island, where the company resides, are above average. These factors will surely serve as a great advantage as the industry enters a period of a strong Atlantic salmon price. The salmon pri...
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ftunivcplisboa:oai:repositorio.ucp.pt:10400.14/15420 2023-10-29T02:35:06+01:00 Equity valuation P/F Bakkafrost Mathiesen, Christian Martin Martins, José Carlos Tudela 2014-10-31T14:41:43Z http://hdl.handle.net/10400.14/15420 eng eng http://hdl.handle.net/10400.14/15420 201181681 restrictedAccess Domínio/Área Científica::Ciências Sociais::Economia e Gestão masterThesis 2014 ftunivcplisboa 2023-10-04T00:08:13Z Bakkafrost is one of the most efficient salmon farmers in the industry, and the farming conditions on the Faroe Island, where the company resides, are above average. These factors will surely serve as a great advantage as the industry enters a period of a strong Atlantic salmon price. The salmon price is estimated by simulations on historical price data, which gives relatively conservative results. This matters little considering that the majority of the value stems from the terminal value, which is based on the average historical price. Bakkafrost has just initiated a 5 year investment program to centralize their operations and reduce costs. This valuation uses a forecast period of 5 years thus incorporating the cash flows related to the program. The resulting cost savings are accounted for in the terminal value of the valuation. This report is based on thorough investigation of public information, and considerable care was taken to make appropriate assumptions about the continued operations of Bakkafrost. The valuation was done using an enterprise DCF, which considers estimates for both cash flows and exposure to market risk. Master Thesis Atlantic salmon Universidade Católica Portuguesa: Veritati - Repositório Institucional |
institution |
Open Polar |
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Universidade Católica Portuguesa: Veritati - Repositório Institucional |
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ftunivcplisboa |
language |
English |
topic |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
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Domínio/Área Científica::Ciências Sociais::Economia e Gestão Mathiesen, Christian Martin Equity valuation P/F Bakkafrost |
topic_facet |
Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
Bakkafrost is one of the most efficient salmon farmers in the industry, and the farming conditions on the Faroe Island, where the company resides, are above average. These factors will surely serve as a great advantage as the industry enters a period of a strong Atlantic salmon price. The salmon price is estimated by simulations on historical price data, which gives relatively conservative results. This matters little considering that the majority of the value stems from the terminal value, which is based on the average historical price. Bakkafrost has just initiated a 5 year investment program to centralize their operations and reduce costs. This valuation uses a forecast period of 5 years thus incorporating the cash flows related to the program. The resulting cost savings are accounted for in the terminal value of the valuation. This report is based on thorough investigation of public information, and considerable care was taken to make appropriate assumptions about the continued operations of Bakkafrost. The valuation was done using an enterprise DCF, which considers estimates for both cash flows and exposure to market risk. |
author2 |
Martins, José Carlos Tudela |
format |
Master Thesis |
author |
Mathiesen, Christian Martin |
author_facet |
Mathiesen, Christian Martin |
author_sort |
Mathiesen, Christian Martin |
title |
Equity valuation P/F Bakkafrost |
title_short |
Equity valuation P/F Bakkafrost |
title_full |
Equity valuation P/F Bakkafrost |
title_fullStr |
Equity valuation P/F Bakkafrost |
title_full_unstemmed |
Equity valuation P/F Bakkafrost |
title_sort |
equity valuation p/f bakkafrost |
publishDate |
2014 |
url |
http://hdl.handle.net/10400.14/15420 |
genre |
Atlantic salmon |
genre_facet |
Atlantic salmon |
op_relation |
http://hdl.handle.net/10400.14/15420 201181681 |
op_rights |
restrictedAccess |
_version_ |
1781058063129640960 |