Wybrane kierunki analizy efektywności zarządzania środkami trwałymi w przedsiębiorstwie
Analysis of fixed assets management efficiency in public company

Summary/Abstract: A higher market value is one of the most important goals for today’s firms. It means higher profit for all firm’s stakeholders. To achieve this goal the company has to efficiently manage its production, and in particular, to manage its fixed capital. Fixed capital is very often one of the biggest parts of company’s assets. Therefore, its proper management is crucial to achieve high profit. Frequent analysis of the efficiency of the use of fixed capital helps managers in proper decision making on investment and changes in fixed assets. Among the tools used in the assessment of efficiency of fixed capital utilization its productivity and efficiency indices that are presented in this article. We illustrate our methods on the example of the three leading Polish meat companies • Sokołowskie Zakłady Mięsne Sokołów S.A. based in Sokołowi Podlaski, • Polski Koncern Mięsny Duda S.A. based in Warsaw, and • Beef – San Zakłady Mięsne S.A. based in Sanok. Data for the analysis was collected from 2003 to 2006. The analysis shows that all three companies use their fixed capital effectively. This should lead to a higher market value. However, given the overall stock market performance, we do not see higher stock price for our three companies. Among the three, Sokołowskie Zakłady Mięsne Sokołów S.A. had the highest stock price increase. The company was profitable for the whole time of our analysis and its fixed capital’s productivity and efficiency indices had stable values. In August 2006, the company was no longer listed on the stock market. It is possible that its good performance induced the owners to take it over and make it private and thus insulated from market fluctuations.

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