What does the project consist of?
The work, carried out by Gesvalt’s Advisory Department, consisted of analysis and updating current inventory on 31/12/2014, as well as the addition of the insurable investments incorporated after this date and the update of the Replacement Costas of the assets located within the Madrid Metro systems for the purpose of updating what is insurable in the insurance policy.
The deliverables within our results kept the existing tree structure, organised by locations (singular centres, garages, warehouses, stations, mobile material, infrastructures and general installations of lines).
Valuation of fixed assets
What are the challenges of carrying out this project? Our close, permanent contact with the Contracts and Corporate Contracts Area of Madrid Metro – who were responsible for project coordination- was key to the success of the incorporation of the new registrations and in the asset evaluation. Along with the rest of the technical departments, they were involved and provided the information needed. Gesvalt’s experience in this type of valuation and the fluid communication with Metro were key factors work being carried out.
Why are these kinds of valuations necessary?
The valuation of fixed assets is part of the legal obligations related to taxation, as well as for preparing financial statements.
The technical appraisal made by an accredited external company helps to work out the value of the capital for accounting, fiscal or insurance purposes. Guaranteeing the reliability of the valuation leads to good risk management of goods.
We spoke to Rafael García, Insurance Group and Corporate Contracts delegate for Madrid Metro. He was involved in the project, and said the following:
What would you highlight about Gesvalt and the way they worked throughout the asset valuation process?
I was very satisfied with the work and the way the Gesvalt acted was positive, they were professional and flexible. This allowed them to work well despite the volume and complexity of the work. Their availability was always excellent, they gave their all and as well as analysing a large amount of information, they had to adapt and get to know our company structure, terminology and way of working a short amount of time.
Is there anything else you’d like to add about the work Gesvalt does and the added value we provide?
Gesvalt were always ready to help when Madrid Metro needed them and they gave solutions that went beyond what was initially needed in the project. They showed great capacity to problem solve and their legal knowledge linked to the project helped resolve issues that came up, as they offered diverse options, helping to improve what was already put in place. They also knew how to stick to the requirements laid out in the technical file, making it a great project completed for Madrid Metro.