{"id":10313,"date":"2026-01-20T17:04:52","date_gmt":"2026-01-20T17:04:52","guid":{"rendered":"https:\/\/www.martinsdelima.com\/capex-plan-experiences\/"},"modified":"2026-02-08T18:26:03","modified_gmt":"2026-02-08T18:26:03","slug":"capex-plan-experiences","status":"publish","type":"page","link":"https:\/\/www.martinsdelima.com\/en\/capex-plan-experiences\/","title":{"rendered":"Capex plan experiences"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"10313\" class=\"elementor elementor-10313 elementor-9815\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5861a17 elementor-section-full_width elementor-section-stretched elementor-section-height-min-height elementor-section-height-default elementor-section-items-middle\" data-id=\"5861a17\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ea42bdb\" data-id=\"ea42bdb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8924fce elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-heading\" data-id=\"8924fce\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><b>Experiences<\/b><br><strong>Financial modeling and CAPEX<\/strong><br>Industrial company with multiple assets<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9dff6a0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"9dff6a0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c3e38d1\" data-id=\"c3e38d1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-78fa56c elementor-widget elementor-widget-text-editor\" data-id=\"78fa56c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h6>An industrial company in the steel sector requested a <strong>comprehensive valuation to support strategic decisions<\/strong>: to understand which part of the business generated value on a recurring basis, which assets contributed value &#8220;separately,&#8221; and how the whole should be interpreted when making corporate decisions. The starting point was clear: <strong>the real value is not in an accounting snapshot<\/strong>, but in the <strong>ability to generate sustainable cash flow<\/strong> and in the <strong>quality (and feasibility) of the assets<\/strong> that accompany the main business. <\/h6><h6>The case had an additional complexity: it was not a single homogeneous unit, but a perimeter with different parts. That is why we structured the analysis by separating <strong>productive assets<\/strong>, <strong>non-productive assets<\/strong>, <strong>real estate assets<\/strong>, <strong>tax credits<\/strong> and <strong>guarantees\/sureties<\/strong>, treating each block with the approach that best reflected its economic nature. This &#8220;by modules&#8221; vision was key to obtaining a solid and actionable conclusion.  <\/h6><h6>In addition, the sector demanded extra rigor: this is an activity where variables such as <strong>cyclical demand<\/strong>, <strong>competitive pressure<\/strong> and <strong>energy costs<\/strong> weigh heavily, factors that directly affect <strong>margins, working capital needs and investment plans<\/strong>. Instead of staying in a generic description, we landed these sectorial dynamics in coherent operative hypotheses so that the financial model was not &#8220;pretty&#8221;, but useful to decide. <\/h6><h6>The work became, in practice, an exercise of <strong>valuation &#8220;project by project&#8221; within the company<\/strong>: what part of the perimeter could be considered a cash engine, what part had value by <strong>divestment or repositioning<\/strong>, and what elements should be analyzed with caution (for example, due to their dependence on future conditions). This separation avoided misleading compensations (one asset &#8220;covers&#8221; another) and allowed explaining the value with transparency. <\/h6><h6>In methodology, we applied a triangulated and very defensive approach: <strong>Discounted Cash Flow<\/strong> for the productive business, with focus on operative projections, <strong>CAPEX<\/strong> and residual term; explicit calculation of the <strong>discount rate (WACC)<\/strong>; contrast with <strong>multiples (PER and EV\/EBITDA)<\/strong>; and, in parallel, specific valuation of <strong>real estate<\/strong>, <strong>fiscal assets<\/strong> and <strong>guarantees\/sureties<\/strong>, each with its corresponding technique. In CAPEX, we built a projection linked to the real drivers of the business (maintenance, efficiency and operative continuity), avoiding &#8220;averages&#8221; that distort. <\/h6><h6>The result was an especially powerful resolution for the client: a final valuation <strong>robust, traceable and defensible from the financial logic<\/strong>, with a clear account of where the value is born and what assumptions sustain it. Most importantly: the analysis did not stay in a number, but delivered a <strong>map of management levers<\/strong> (CAPEX, operative efficiency, asset structure and risks) that allowed taking decisions with security. In summary, <strong>martinsdelima transformed a complex case into a clear and actionable diagnosis<\/strong>, combining technical rigor and practical business approach.  <\/h6>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>ExperiencesFinancial modeling and CAPEXIndustrial company with multiple assets An industrial company in the steel sector requested a comprehensive valuation to support strategic decisions: to understand which part of the business generated value on a recurring basis, which assets contributed value &#8220;separately,&#8221; and how the whole should be interpreted when making [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-templates\/template-pagebuilder-full-width.php","meta":{"footnotes":""},"class_list":["post-10313","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Capex plan experiences - Martinsdelima<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.martinsdelima.com\/en\/capex-plan-experiences\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capex plan experiences - Martinsdelima\" \/>\n<meta property=\"og:description\" content=\"ExperiencesFinancial modeling and CAPEXIndustrial company with multiple assets An industrial company in the steel sector requested a comprehensive valuation to support strategic decisions: to understand which part of the business generated value on a recurring basis, which assets contributed value &#8220;separately,&#8221; 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