Determination of value drivers for transport companies in the Czech Republic

Abstract

Transport is one of the key sectors of the European economy. Effectiveness of transport companies depends mainly on the changes in the given environment. Transport companies differ from other types of companies especially in higher focus on ecology, not storing the services offered or high cost investments. The aim of each business is generally the increase of the value of the company. The objective of this contribution is thus to identify the value drivers of a transport company in the Czech Republic, provided that the value of the company is measured by means of the EVA equity indicator. The data set contains complete financial statements of 1500 transport companies in the Czech Republic for the year 2016. For each company, the EVA equity value is calculated. For the analysis, the Statistica software and the method of artificial neural networks are used. 1000 neural networks are generated, out of which 5 showing the best results are retained. In total, 12 variables are chosen that enter/play a part in the process of the company value creation. Based on the sensitivity analysis, the most important components of the variable are the financial result, consumption of material and energy and the profit on ordinary operations.