Værdiansættelse af Satair med fokus på frasalg af OEM division

Henrik P. Sloth

Student thesis: Diploma thesis


Introduction The purpose of this paper is analytically to find an approximate fair value of Satairs stock and evaluate the consequence of the divestment of the OEM divison. The company is a world leading supplier of aircraft parts and service solutions for aircraft maintenance. Satair offers an array of competitive services aimed at reducing supply chain costs. The company serves its business partners globally through sales and warehousing locations in Europe, North America, the Middle East, Asia Pacific and China. Method To determine the fair value of the firm, the author asses two approaches for the valuation; The free cash flow of the firm ( FCFF) and the RIDO model. In order to complete the valuation, a thorough examination of the company’s former strategy and financial records is needed. This historical analysis goes back five years, in order to reveal the company’s historical capability, to create profit for its shareholders. Results The conclusion of the financial examination and valuation, is a fair value for Satair stock, is in the range of Danish kroner 442 and 759 per share.

EducationsGraduate Diploma in Financial Planning, (Diploma Programme) Final Thesis
Publication date2011
Number of pages94