Introducing The Services of The Expert Institution: Grant Thornton Valuations

Introducing the services of the expert
institution
Grant Thornton Valuations

2016
Ji Kadrman
Svatoslav Kylar
Partner
T +420 737 915 037
E jiri.kadrman@cz.gt.com
Partner
T +420 606 756 589
E svatoslav.kylar@cz.gt.com
2016 Grant Thornton Valuations | Introduction of services of the expert institution
Grant Thornton among the world

top Thornton International operates on the market since 1924 and currently
Grant
with a revenue over 4.7 billion USD is the sixth largest organization of its kind in
the world. It employs over 40,000 professionals from more than 130 countries of
the world.
Grant Thornton Czech Republic

Grant Thornton operates on the Czech market since 1991. The advisory company
Facility offers complex services including manager and transaction advisory from
ANNUAL
its entrance into Grant Thornton.
TURN-OVER
AMONG OUR
Grant Thornton has created in the past two decades a

strong position on the Czech market in the areas of
audit, tax advisory and services of wage accounting.
Grant Thornton Advisory is among the five largest
advisory companies on the Czech market and since 2002
has continued to grow.
CLIENTS
HALF
Audit of interlocutory accounting book closing.

Statuary and willful audits for establishing
companies, mergers and acquisitions.
5 LARGEST
ADVISORY
FIRM
TOP 100
PROVIDES
SERVICES
Currently their are more than 100 professionals working

700
CLIENTS
in offices in Prague and Brno. The company provides its
services to more than 700 clients form both the private
and public sectors,
among which areTaxmore
than a half of
Audit
Advisory
Manager advisory
Czech
TOP
100
companies
and
many
more
international
Statuary and willful audits of accounting book
Tax returns and help during financial inspections
Increasing productivity
closing
companies.
Financial accounting, including cost and
Financial advisory
property accounting
200 MIL. CZK
ARE BELONG
TO THE
CZECH
TO MORE THAN
Audit of consolidated packages in accordance

to national and international standards.
EXCEEDS
Human resources
OVER
100
ON THE
CZECH
MARKET
PROFESSIONAL
WORK IN BRNO
AND PRAGUE
Transactions and valuations

Valuation of personal and real estate property
Valuation of companies, intangible and financial
property
Manager accounting, internal reporting system

analysis
ICT optimization
Complex advisory during sales and purchases

of companies
Complete processing of wage agenda
Project financing
Searching for investors and acquisition targets
Forensic services
Organizing selection procedures, setup of

transaction structure, due diligence
Special audits
Strategy a marketing
Project financing, receivables and own capital
Expert institute Grant Thornton

Valuations
The expert institute is registered with the ministry of justice in the Czech
Republic on the list of institutes qualified for expert work for the scope of
economy since 1997.
Grant Thornton Valuations
Expert institute authorizations
In 2015 the company strengthened its position on

the Czech market in the area of valuation and
expert services by merging with the expert
institute American Appraisal s.r.o.
In the field of economy our expert institute has

authorizations in the range of:
The expert institute Grant Thornton Valuations

annually processes around 300 expert reports
with a total property value of several billion CZK.
Our Expertise
Our professional expert team processes expert
reports and expert opinions for tax purposes,
the needs of private and corporate persons and
last but not least for the purposes of courts in
civil, criminal and corporate matters. We
believe that valuation are not the result of a mere
mechanical process. Therefore we use a wide
range of methods based on our real-life
experience and know-how.
Valuation of real property

Valuation of businesses and their parts
Valuation of liabilities and intangible
property
Valuation of stock and bonds
Valuation of machinery and personal
property
Price regulation and energy price
calculation
Price and valuation of information &
computing systems (ITC)
Valuating property
During valuation of property we stem from the property valuation law and its
working regulations and from international standards listed below. These
standards are applied in accordance to the valuation purpose.
Metodology a standards
European Valuation Standards
International Valuation Standards
International Accounting Standards IAS
International Financial Reporting Standards IFRS
RICS Royal Institute of Chartered Surveyors
Our qualified expert team offers the preparation of valuations and expert report for the following
purposes:
Tax purposes and other purposes required by

law
Valuation for collateral and financing

purposes
Valuation of property for the purpose of

deposit into a real-estate portfolio and or as
payment into the basic capital
Purposes in relevance to changes of

companies
Valuation for purposes of insolvency and

lawsuits
Negotiations about purchase price and for

transaction purposes
Periodic valuation of portfolios
Identification and valuation for accounting

purposes and for Purchase Price Allocation in
accordance with Czech Accounting Standards,
IFRS and US GAAP
Valuating stock, shares, plants and intangible

property
In the field of financial valuation we provide our clients principally with the
following services.
Valuating stocks, shares and plants for the purposes
Sale and change of companies
Squeeze-outs
Non-financial deposits
Purchase price allocation and impairment tests
Solvency tests, valuation of plants and its property in the framework of insolvencies and
restructurings
Lawsuits
Identifying and valuation of intangible property

Valuation of short-term assets (supplies and receivables) and liabilities
Valuating real estate property

In the field of real estate valuation we deal with all valuations of all types of real
estate property for various purposes. A brief overview of the most common is
listed below.
Types of real estates property
We conduct valuations, among other, for

the following purposes
Administrative buildings
Industrial facilities and logistic centers
Transactions, collateral and financing
Commercial premises and hotels
Residential real estate
Purchase price allocation as a part of

development projects
Lands
Verification of budget cost
Historical buildings and landmarks
Tax purposes, for example valuations for

tax from transferring real estate items
Indicating rent fees
Valuating machinery and personal property

During valuation of machinery and equipment and other personal property we
focus on these areas.
We engage in valuations
Market value / common price for the purposes of sale of personal property, during company
transformation and for non-financial deposits
Purchase price (including its allocation) according to Czech Accounting Standards, IAS/IFRS
and US GAAP, entering valuation of property, component segmentation according to IAS/IFRS,
and for purposes of accounting
Property for collateral for financing purposes (Liquidation in place value, Orderly Liquidation
value, Forced liquidation value)
For purposes of insolvency proceedings and lawsuits
as well as, for example the purposes of insurance, we indicate
Cost of Reproduction New (CRN)
Cost of Reproduction New Less Depreciation (CRNLD)
The remaining life of machinery and equipment
Valuation of information systems

In the framework of valuating information systems we specialize in processing the
following expert reports.
We focus on
Valuating software, products and information technology services
Cost validation used for ICT projects and examination if assigned project plan corresponds with
its factual fullfilment
Expert reports for suitability of chosen procedures in accordance to the Law on public orders
further we provide expert reports for purposes
On receiving subsidies and examination of selection procedures in the field of ICT
Valuations and expert reports for lawsuits
Valuations for purchase price allocation and tax purposes
Mergers and acquisitions
Selected references of Grant Thornton

Valuations
Automotive industry
BOS Automotive Products
CZ, s.r.o.
KS Kolbenschmidt Czech
Republic, a.s.
Noel Group, LLC
WITTE Nejdek, spol. s r.o.
Johnson Controls, Inc.
Valuation of a part of the ERP

system
Long-term property of the

company KS Kolbenschmidt
GmbH
Valuation of the company

Jyco Europe (Slovensko)
Indicating common price of

varnishing line and verification
of construction costs. Valuation
of real estate
Valuation of long-term property
Management
Transaction in group
Planed transaction
Financing
Insurance
DURA Automotive
Systems CZ, s.r.o.
Bel Fuse Inc.
C.L.N. SLOVAKIA S.R.O.
MOTORPAL, a.s.
Buzuluk, a.s.
Valuating the company assets
Indication and allocation of

market value of long-term
assets
Valuating a share of the

company
Valuation of specified personal

and real estate property
Valuation of company assets
Planed transaction
Purchase price allocation
Planned transaction
Financing
Internal restructuring
10

Valuations
Transportation and logistics
ARRIVA VCHODN
ECHY a.s
GATX Corporation
Indicating cost of reproduction

new of a bus depo
Valuation of railway
transportation equipment
Valuation of railway
transportation equipment
Insurance
Planned transaction
Planed transaction
Planned transaction
Prague Public Transit Co.

Inc.
AAE Cargo AG
11

Valuations
Electro-technical industry
Vishay Intertechnology,
Inc.
AVX Corporation
Sisme Slovakia s.r.o.

of the company
Transaction in group
Insurance
Insurance
Insurance
Insurance
Panasonic AVC Networks

Czech, s.r.o.
Samsung Electronics
Czech and Slovak, s.r.o.
Dell Products Poland Sp.

z o.o.
Valuation of a production plant
Ocenn dlouhodobho majetku
Management, transaction
Planned transaction
Pojitn
Honeywell, spol. s r. o.
Johnson Controls, Inc.

of the company
12

Valuations
Energy industry
Dalkia esk republika,
a.s.
E.ON Czech Holding AG
Uniper Trend s.r.o.
AES Corporation
EZ, a. s.
Indicating the cost of

reproduction new of property for
insurance, valuation for the
purposes of purchase
accounting according to IFRS a
IAS standards
Valuation of shares, property

and valuation of real estate tax
purposes
Valuation of assets in the E.ON

Trend company

(Kazakhstan, Cameroon,
Oman)
Insurance
Planned transaction
Insurance
Insurance
Prask plynrensk, a.s.
SPP Distribucia, a.s.
Plynostav - regulace
plynu, a.s.
stav jadernho vzkumu

e a.s.
.
Services for processing

preparation of data for valuation
of a part of the company
(distribution) for purposes of
unbundling
Valuation of assets by market

value with the premise of
continued use
Valuation of company in
insolvency
Valuation of company property

and Due Diligence
Opinion of the market value of

damages
Audit, IFRS
Insolvency
Recovery of damages
Alpiq Energy SE
13

Valuations
Finance and investment
esk spoitelna, a.s.
Valuation of assets of
companies
companies
companies
Indicating the market value of

real estate items
Financing
Financing
Financing
Re-valuation of portfolio
Insurance
eskoslovensk
obchodn banka, a.s.
PPF Banka a.s.
Citibank Europe plc,

organizan sloka
UniCredit Bank Czech

Republic and Slovakia,
a.s
RENOMIA, a. s.
companies
companies
companies
companies
Financing
Financing
Financing
Financing
Insurance
Komern banka, a. s.
Conseq dchodov
penzijn spolenost, a.s.
Raiffeisenbank a.s.
FM Global
14

Valuations
Chemical and petrochemical industry
Al Waha Petrochemical
Company
Spolek pro chemickou a hutn

vrobu, akciov spolenost
PARAMO, a.s.
PM Oil, s.r.o.

(Saudi Arabia)
Valuation of shares, indicating

market value of property under
the premise of orderly
liquidation
Valuation of gas stations
Valuation of all assets of the

company

(United Arab Emirates)
Insurance
Strategic decision-making
Planned transaction
Audit, financing
Insurance
CIECH S.A.
EPRO a.s.
Slovnaft, a.s.
Papoil
Papoil
Unipetrol,
a.s.
Unipetrol, a.s.
Financing
Financing
Insurance
Planned transaction
ADNOC
Valuation of subsidiary
companies of the group
Management, insurance
15

Valuations
ICT
Ministry of regional
development of CZ
Ministry of interior of CZ
Prague City hall
State Institute for Drug

Control
Central Bohemia
Reviewing change
implementation
Technical project CMS2.0
Reviewing the buyback of

licence
Reviewing technical support of

products
Review of public offer
Internal decision-making
Opertor Opencard a.s.
Advoktn kancel
JUDr. Tom Givna
esk pota, s.p.
Review of proposed strategy
Review of common price
Review of suitability of SW/HW
Criminal proceedings
16

Valuations
Food industry
GoodMills esko s.r.o.
Mars, Incorporated
Mondelez International
Schreiber Foods Inc.
Stock Spirits Group
Indication and allocation of

market value of long-term
property
Management
Insurance
Insurance
Insurance
Purchase Price Allocation
SUDANESE SUGAR CO.

LTD.
Danone a.s.
Mondelez International
PepsiCo Inc.
Breweries Staropramen
s.r.o.
Privatization
Insurance
Insurance
Insurance
Insurance
17

Valuations
Residential real-estate
Accolade s.r.o.
FERD s.r.o.
FIM Group, s.r.o.
RSBC Private Equity CZ

a.s.
SNEO, a.s.
Real estate valuation
Financing
Financing
Financing
Burdens
Internal purposes
FINEP
CENTRAL GROUP a.s.
Metrostav Development
a.s.
CIMEX INVEST s.r.o.
Fyzick osoby
Planned transaction
Planned transaction
Planned transaction
Financing
Rent, financing
18

Valuations
Retail
ansk pivovar s.r.o.
AUDIO PARTNER s.r.o.
Centrum Praha JihChodov s.r.o.
CPI Services, a.s.
Euro Mall Hradec Krlov

Real Estate, s.r.o.
Financing
Planned transaction
Planned transaction
Planned transaction
Planned transaction
PYTHIA a.s.
Kaufland esk republika

v.o.s.
BM ESKO s.r.o.
Atrium Flra a.s.
Takko Fashion s.r.o.
Financing
Financing
Planned transaction
Planned transaction
Planned transaction
19

Valuations
Services
Kappa Estates, s.r.o.
Mediaservis s.r.o.
Soukrom hotelov kola

Bukaschool s.r.o.
Trans World Hotels &

Entertainment, a.s.
Vendys & V s.r.o.
Insurance
Management
Financing
Audit
Financing
Four Seasons Hotel

Prague a.s.
Reader`s Digest VBR

s.r.o.
Lzn Frantikovy Lzn

a.s.
Moodys Investors Service

Limited, organizan sloka
VLTAVA-LABE-PRESS,
a.s.
Insurance, Audit
Management
Management
Planned transaction
20

Valuations
Construction industry
EUROVIA CS, a.s .
Holcim Ltd
Planned transaction
Planned transaction
Ytong
Lafarge Cement, a.s.
PSJ, a.s.
Cemex
Valuation of long-term assets
Planned transaction
Management
Bravo International s.r.o.
Management
Planned transaction
21

Valuations
Public institutions
Czech Technical
University in Prague
Municipal district
Prague 10
Prague City hall
Czech Export Bank
Ministry of foreign affairs
Valuation of real estate
Financing
Financing, law-suits
Czech Railway
Municipal district
Prague 6
TSK hl.msta Prahy
Police of the
Czech Republic
Masaryk Municipal
Hospital in Jilemnice
Property valuation
Expert reports for the purpose

of criminal procedures
Planned transaction, burdens
Non-financial deposit
Criminal procedures
Planned transaction
22

Valuations
Universal engineering /metallurgy
KD Kutn Hora, a.s.
ZVU STROJRNY, a.s.
Aluminium Bahrain B.S.C.
CMC Sisak d.o.o.
Vtkovice Steel, a.s.

(Bahrajn)

(Chorvatsko)
Planned transaction
Financing
Audit
Insurance
SANDVIK CHOMUTOV
PRECISION TUBES spol. s r.o.
US Steel Koice, s.r.o.
FEREX-SO spol. s r.o.
MEZ Mohelnice
SIGMA GROUP a.s.
Business valuation in
Insolvency
Insurance
Insolvency
Privatization
Management
23

Valuations
Agriculture
LESS & FOREST s.r.o.
ZEM SPOL Tbor s.r.o.
Archer Daniels Midland

Company
Agropol Group, a.s.
ARBOEKO s.r.o.
insolvency
Insolvency
Planned transaction
Purchase price allocation
Financing
Insurance
Jihoesk drbe, a.s.
Grupo Dibaq
Diproteg(panlsko)
Tereos TTD, a.s.
LESS a.s.
Krajsk soud v Praze
insolvency
Valuation of the improvements

of fishpond Pechar
Valuation of assets of the

company Fitmin a.s.
Insolvency
Lawsuits
Financing
Company Acquisition
Planned transaction
24
www.grantthornton.cz / www.gti.org
2016 Grant Thornton Advisory s.r.o., Grant Thornton Valuations, a.s. All rights reserved.
Grant Thornton Advisory s.r.o. je lensk firma Grant Thornton International Ltd. (Grant Thornton International).
Grant Thornton Valuations, a.s. je dceinou spolenost Grant Thornton Advisory s.r.o. Odkazy na Grant Thornton se
vztahuj ke Grant Thornton International nebo ke lenskm firmm. Grant Thornton International a lensk firmy
nejsou mezinrodnm partnerstvm. Sluby jsou nezvisle poskytovny jednotlivmi lenskmi firmami.
Grant Thornton Advisory s.r.o. is a member firm of Grant Thornton International Ltd. (Grant Thornton International).
Grant Thornton Valuations, a.s. is a subsidiary of Grant Thornton Advisory s.r.o. References to Grant Thornton are to
Grant Thornton International or its member firms. Grant Thornton International and the member firms are not a
worldwide partnership. Services are delivered independently by the member firms.
25

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Introducing the services of the expert

Grant Thornton Valuations

2016 Grant Thornton Valuations | Introduction of services of the expert institution

Grant Thornton among the world

2016 Grant Thornton Valuations | Introduction of services of the expert institution

Grant Thornton Czech Republic

Grant Thornton has created in the past two decades a

Audit of interlocutory accounting book closing.

Currently their are more than 100 professionals working

200 MIL. CZK

Audit of consolidated packages in accordance

Transactions and valuations

Manager accounting, internal reporting system

Complex advisory during sales and purchases

Complete processing of wage agenda

Searching for investors and acquisition targets

Organizing selection procedures, setup of

Project financing, receivables and own capital

2016 Grant Thornton Valuations | Introduction of services of the expert institution

Expert institute Grant Thornton

Expert institute authorizations

In 2015 the company strengthened its position on

In the field of economy our expert institute has

The expert institute Grant Thornton Valuations

Valuation of real property

European Valuation Standards

International Valuation Standards

International Accounting Standards IAS

International Financial Reporting Standards IFRS

RICS Royal Institute of Chartered Surveyors

Tax purposes and other purposes required by

Valuation for collateral and financing

Valuation of property for the purpose of

Purposes in relevance to changes of

Valuation for purposes of insolvency and

Negotiations about purchase price and for

Periodic valuation of portfolios

Identification and valuation for accounting

2016 Grant Thornton Valuations | Introduction of services of the expert institution

Valuating stock, shares, plants and intangible

Valuating stocks, shares and plants for the purposes

Sale and change of companies

Purchase price allocation and impairment tests

Identifying and valuation of intangible property

2016 Grant Thornton Valuations | Introduction of services of the expert institution

Valuating real estate property

Types of real estates property

We conduct valuations, among other, for

Industrial facilities and logistic centers

Transactions, collateral and financing

Commercial premises and hotels

Residential real estate

Purchase price allocation as a part of

Verification of budget cost

Historical buildings and landmarks

Tax purposes, for example valuations for

Indicating rent fees

2016 Grant Thornton Valuations | Introduction of services of the expert institution

Valuating machinery and personal property

For purposes of insolvency proceedings and lawsuits

as well as, for example the purposes of insurance, we indicate

Cost of Reproduction New (CRN)

Cost of Reproduction New Less Depreciation (CRNLD)