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Abstract(s)
O presente estudo, enquadrado no âmbito do Mestrado em Gestão da Universidade Católica Portuguesa, na modalidade de Projeto, tem como objetivo analisar a viabilidade económica e financeira da construção de um novo armazém, numa unidade industrial de componentes automóvel. Perante o cenário de elevada disruptividade que a indústria de componentes tem vindo a demonstrar nos últimos anos, é essencial que as empresas não percam a capacidade de inovar e diversificar, agindo em prol do aumento dos níveis de competitividade e consolidando a sua posição financeira. Posto isto, para o estudo empírico recorreu-se ao método dos Cash-flows Descontados, o qual assenta na atualização de rendimentos futuros a uma taxa de rendibilidade mínima exigida (WACC). Como o investimento será aplicado numa empresa já em atividade, recorreu-se à técnica dos Cash-flows Incrementais, de modo a determinar os cash-flows do projeto e proceder à sua avaliação com base nos indicadores de rendibilidade VAL, TIR e Payback Period Atualizado. Por fim, foi feita uma análise de cenários, de modo a incorporar o risco na avaliação. Com efeito, após a realização de análises e projeções, determinou-se que o projeto em causa é económica e financeiramente viável para a empresa, por contribuir para a otimização de custos operacionais, gerar crescimento dos níveis de produtividade e criar condições favoráveis ao acesso a novos mercados.
The present study, framed within the scope of the Master’s in Management of the Universidade Católica Portuguesa, in Project modality, aims to analyse the economic and financial viability of the construction of a new warehouse, in an industrial unit of automotive components. Given the scenario of high disruptiveness that the components industry has been demonstrating in recent years, it is essential that companies do not lose the ability to innovate and diversify, acting towards increasing levels of competitiveness and consolidating their financial position. Therefore, the Discounted Cash-flows method was used for the empirical study, which is based on updating future income to a minimum required rate of return (WACC). As the investment will be applied in a company already operating, the Incremental Cash-flows technique was used to determine the project's cash-flows and to evaluate them based on NPV, IRR and Updated Payback Period profitability indicators. Finally, a scenario analysis was carried out in order to incorporate risk in the evaluation. In fact, after carrying out analyses and projections, it was determined that the project in question is economically and financially viable for the company, as it contributes to the optimisation of operating costs, generates growth in productivity levels and creates favourable conditions for access to new markets.
The present study, framed within the scope of the Master’s in Management of the Universidade Católica Portuguesa, in Project modality, aims to analyse the economic and financial viability of the construction of a new warehouse, in an industrial unit of automotive components. Given the scenario of high disruptiveness that the components industry has been demonstrating in recent years, it is essential that companies do not lose the ability to innovate and diversify, acting towards increasing levels of competitiveness and consolidating their financial position. Therefore, the Discounted Cash-flows method was used for the empirical study, which is based on updating future income to a minimum required rate of return (WACC). As the investment will be applied in a company already operating, the Incremental Cash-flows technique was used to determine the project's cash-flows and to evaluate them based on NPV, IRR and Updated Payback Period profitability indicators. Finally, a scenario analysis was carried out in order to incorporate risk in the evaluation. In fact, after carrying out analyses and projections, it was determined that the project in question is economically and financially viable for the company, as it contributes to the optimisation of operating costs, generates growth in productivity levels and creates favourable conditions for access to new markets.
Description
Keywords
Análise de investimentos Viabilidade económica e financeira Cash-flows Otimização de custos operacionais Capital budgeting Economic and financial viability Operational cost optimisation