Modelling

Financial modelling

Our approach

We build financial models that are easy to use, clear for decision-makers and focused on practical business value. Each project starts with a thorough review of the company, its current financial position and the planned project. Drawing on our extensive financial modelling experience, we help identify both opportunities and risks at an early stage. Our analyses combine reliable macroeconomic sources with the client’s internal data, providing a robust basis for investment decision-making. For state aid applications, we prepare analyses tailored to the requirements of specific calls for proposals and aligned with the expectations of the evaluating institutions.

Who we support

Our financial modelling services are designed for companies that need to assess a new project and obtain an independent expert view on its profitability and potential optimisation options; prepare to present a project to stakeholders, such as a potential investor, bank or parent company; apply for state aid and develop a financial model that meets the requirements of a specific call for proposals; structure project financing effectively, including the optimal mix of equity and debt while maintaining financial sustainability.

Benefits

Our financial models help clients make well-informed business decisions based on reliable data, reducing the risk of inaccurate estimates and flawed project assumptions.

Time savings

Preparing a financial model is often a time-consuming process that requires specialist expertise and significant input from internal teams, especially where modelling is not part of their day-to-day responsibilities. By entrusting this work to experienced specialists, clients can reduce the burden on their teams and keep their focus on key areas of business growth and development.

Compliance and decision-making confidence

We have prepared dozens of financial models for a wide range of decision-making processes. We develop solutions that comply with applicable standards and address the expectations of public institutions, banks and other stakeholders, supporting greater confidence throughout the decision-making process.

Independent opinion

In many companies, financial modelling is not a routine task. For organisations commissioning the preparation or review of a model, working with experienced external experts provides an additional layer of independent assessment. Clients benefit from our broad cross-sector experience and practical know-how, which can also support similar projects in the future.

Market context

We build financial models tailored to each client’s needs and market environment. Our work is based not only on the company’s internal data, but also on up-to-date market reports and the practical experience we have gained through years of advising clients.

Financial modelling services

Financial model development

We prepare financial models from scratch based on data provided by the client. Depending on the purpose of the model, it can be structured on an annual, quarterly or monthly basis and may include forecasts of the balance sheet, income statement and cash flow statement.

Review of a client-prepared model

We review the accuracy of calculations, links and model logic. We identify potential errors, oversimplifications, inconsistencies and gaps in assumptions. We verify whether reliable data sources have been used, check Excel formulas and draw on our experience to indicate which elements may raise questions from stakeholders or evaluating institutions. We can also perform sensitivity analysis or critical variable analysis to identify the parameters with the greatest impact on project profitability.

Analytical support in the state aid application process

We develop financial models that comply with the requirements of the specific call for proposals. We also support clients in responding to questions and comments from evaluating institutions. We work closely with the OW State Aid team, enabling clients to receive comprehensive support in one place.

Project profitability analysis (NPV, IRR)

We assess the profitability of planned projects by calculating key financial indicators, such as NPV, IRR, payback period and other metrics required for a given process.

Business plan and feasibility study

We prepare narrative reports that accompany the financial model, such as business plans and feasibility studies. These documents are often required when seeking financing. In addition to financial analysis, they may include demand analysis, competitor analysis, assessment of financial standing or risk analysis. The reports we prepare are consistent with the financial model and tailored to the expectations of their intended audience.

Investor presentation (pitch deck)

We create clear presentations designed to communicate the project effectively to stakeholders. Our presentations combine substantive content with a clear visual structure, helping clients present the project’s potential in a compelling and accessible way.

Selected projects

In recent years, we have supported clients in carrying out key investment projects, helping them successfully secure significant public funding and demonstrate the viability and impact of their initiatives.

PLN 545 million grant for SK Nexilis under the TCTF

Together with OW State Aid, we supported a project to secure aid under the first agreement in Poland concluded within the Temporary Crisis and Transition Framework (TCTF) for SK Nexilis, a global manufacturer of copper foil and other advanced materials. The company planned to launch a new factory in Stalowa Wola. Our advisory work included an investment audit covering the project’s key parameters.

Support in obtaining over PLN 100 million in funding for the purchase of locomotives under the National Recovery and Resilience Plan

Rail Capital Partners sp. z o.o., a company specialising in locomotive leasing, received one of the highest possible grants under Poland’s National Recovery and Resilience Plan for the purchase of ten modern, zero-emission electric locomotives.

We delivered the project jointly with OW State Aid. The analytical work included developing a complex financial model, preceded by a series of analyses — from demand analysis to sensitivity analysis. Economic analysis was also an important part of the assessment. It showed that the investment was not only financially viable, but also generated wider social benefits, including reduced accident rates, lower emissions in the lower atmosphere and mitigation of climate change impacts.

Funding for the construction of an installation terminal for offshore wind farms in the Baltic Sea

Obtaining investment aid for this project required approval by the European Commission through a notification procedure. The funding for the construction of an installation terminal for offshore wind farms in the Baltic Sea at the Port of Gdańsk amounted to EUR 194 million.

We were responsible for calculating the funding gap, which helped determine the level of support required for the investment to proceed. We then prepared a comprehensive cost-benefit analysis covering the financial, economic, sustainability and sensitivity aspects of the project. Our analyses demonstrated that, with public support, the investment would be profitable and that the applicant had sufficient cash resources to cover both capital expenditure and operating costs.