Valuation of companies

[Detailed programme]

‘Price is what you pay, value is what you get’

The programme ‘Valuation of companies’ offers you a general framework for valuing companies and major projects. It provides an overview of both traditional and more recently developed valuation techniques. The course shows how Profit, (Free) Cash Flow, Growth and Financing Policies affect a company’s value.

Target group

This programme is ideal for all professionals who want to expand their knowledge of company valuation, such as those active in Mergers & Acquisitions, Corporate Finance and Investments. The programme is aimed at investment companies, banks, consultant agencies and public companies.

After this programme

By following this programme, you will obtain fundamental insight into the most important drivers of firm value (cash flow, growth, risk), and you will be able to determine the value of a business opportunity.

Programme topics

The programme runs as follows:

• Day 1: Standard valuation methods
• Day 2: Alternative valuation methods
• Day 3: Case study: ‘How to value a real-life take-over target?’
• Day 4: Valuation: risk and uncertainty

Detailed programme

The Vlerick approach

To ensure a practical and action-oriented approach, case studies are used as the primary – but not exclusive – vehicle for teaching. Participants will be challenged to deal with real-life situations, apply the appropriate concepts and techniques, decide upon a course of action, and discuss their recommendations in class.

Faculty

• Prof Dr Cynthia Van Hulle, Professor in the Faculty of Economics and Applied Economics at Katholieke Universiteit Leuven and Professor at Vlerick Leuven Gent Management School.
• Mr. Peter Maenhout, Executive VP at Gimv (investment manager at Gimv XL Fund) and guest lecturer at Vlerick Leuven Gent Management School. Peter holds an MBA from Chicago University. Peter previously worked at Petercam (one of the largest Belgian investment banks/brokerage houses) and he is a former managing director of the hedge fund Amber Capital Benelux.
• Prof Dr Wouter De maeseneire, Professor of Corporate Finance at Vlerick Leuven Gent Management School. Previously, he was employed at Erasmus University Rotterdam. Wouter is responsible for the modules and courses about capital budgeting and company valuation in the Masters in Financial Management and the Executive Master Class in Corporate Finance at Vlerick Leuven Gent Management School. He has written his PhD and a managerial book on the topic of real options, as well as several articles and book chapters on company valuation.