Comprehensive investment analysis that transforms project ideas into evidence-based decisions — combining financial modelling, market assessment, and risk quantification to support funding applications and strategic planning.
A techno-economic feasibility study is a structured analytical document that evaluates the financial and operational viability of a planned investment. It provides decision-makers, financial institutions, and public bodies with a rigorous, independent assessment of whether a project is likely to generate adequate returns — and under what conditions.
Feasibility studies serve a broad range of organisations and individuals at different stages of an investment lifecycle.
Companies evaluating expansion into new production lines, facilities, technologies, or geographic markets that require substantial capital commitment.
New businesses seeking to validate their business model financially and attract investors, bank financing, or participate in grant programmes.
Businesses submitting investment proposals under Law 4887/2022 or similar frameworks that require a documented financial appraisal as part of the application.
Borrowers seeking project loans, investment loans, or leasing arrangements who must demonstrate projected cash flow adequacy and repayment capacity to lenders.
Developers of photovoltaic, wind, biomass or other energy installations where investment decisions hinge on yield projections and regulatory tariff structures.
Hotel developments, agrotourism ventures, and commercial real estate investments requiring occupancy modelling, revenue forecasting, and ROI analysis.
Agricultural producers, food processing units, and agri-industrial investments seeking development law subsidies, bank financing, or ESPA co-funded modernisation programmes.
Parties entering joint ventures, acquisitions, or strategic partnerships who require independent financial validation of the target entity's projections before finalising terms.
The reliability of a feasibility study depends entirely on the quality and completeness of the underlying data. MBO works with clients to gather and verify all required information across three primary areas.
The study produces a set of standard financial indicators that allow investors, lenders and evaluators to assess project viability at a glance and compare it against benchmarks or alternative uses of capital.
The discount rate at which the project's net present value equals zero. IRR represents the effective annual return on the investment and is the primary criterion for grant eligibility thresholds and lender assessments.
The total value created by the investment in today's terms, after discounting future cash flows at the required rate of return. A positive NPV confirms that the project creates value above its cost of capital.
The number of years required to recover the initial investment from operating cash flows. Both simple and discounted payback periods are calculated, giving lenders a clear view of exposure duration.
The Debt Service Coverage Ratio measures whether annual operating cash flow is sufficient to meet loan repayment obligations. A DSCR above 1.20–1.25 is typically required by Greek financial institutions.
Earnings before interest, tax, depreciation and amortisation and operating margin projections across the forecast horizon, revealing the underlying profitability of operations before financing effects.
Annual and cumulative free cash flow projections, distinguishing operating, investing and financing activities, to confirm that the project generates sufficient liquidity throughout the analysis period.
The minimum revenue or output volume at which the project covers all its costs and reaches zero profit. Break-even thresholds are calculated for each key variable, identifying the safety margin between projected performance and financial viability.
The net profit generated as a proportion of the owner's equity contribution. ROE provides shareholders and co-investors with a direct measure of how efficiently their capital is being deployed relative to alternative investment opportunities.
No investment operates in a perfectly predictable environment. Sensitivity analysis is an essential component of every MBO feasibility study, quantifying how the key financial indicators respond when critical assumptions deviate from their baseline values.
We systematically test the impact of changes in variables such as revenue (sales volume or price), operating costs (energy, raw materials, labour), investment cost overruns, and financing terms. For each variable, we identify the break-even threshold — the point at which the project ceases to be financially viable.
Scenario analysis extends this by combining multiple adverse or favourable conditions simultaneously, creating pessimistic, base-case and optimistic projections. This equips decision-makers with a realistic range of outcomes rather than a single-point forecast.
We begin with a structured consultation to understand the project, its financing context, the target audience (bank, grant authority, internal board), and the timeline. We define the modelling horizon, currency, and key assumptions to be used.
We collect and review all investment pre-costings, technical specifications, market data, and financing term-sheets. Where data is incomplete or inconsistent with market benchmarks, we flag this and assist in sourcing reliable estimates.
We build a transparent, fully integrated financial model covering the income statement, balance sheet, cash flow statement, and debt service schedule over the full analysis period — typically 10 to 20 years depending on asset life and financing tenor.
We calculate IRR, NPV, payback period, DSCR, and operating margins, and interpret their meaning within the specific regulatory and market context. Where applicable, we benchmark results against sector averages or eligibility thresholds.
We conduct systematic sensitivity testing on the key value drivers and present results in a clear tabular and graphical format. Pessimistic, base-case and optimistic scenarios are documented with their respective probability weightings.
The completed study is delivered as a professional bound document in Greek and/or English as required. We support the client in presenting findings to banks, grant evaluators, or board members, and provide responses to any queries or revision requests.
A professionally prepared study prepared by an independent consultant carries significantly more weight with lenders than internal projections submitted by the applicant.
Development law and ESPA evaluators assess financial sustainability rigorously. A study structured to meet their specific requirements materially improves approval prospects.
Beyond external requirements, the analysis reveals whether the project genuinely makes sense before significant resources are committed — potentially preventing costly mistakes.
Third-party investors, strategic partners, and co-shareholders require independent financial validation before committing capital or entering joint ventures.
Sensitivity analysis forces a disciplined examination of what could go wrong, enabling proactive risk management rather than reactive crisis response.
Where a feasibility study is a statutory requirement for a permit, licence, or subsidy, MBO ensures the document meets all format, content, and certification requirements.
Independently validated financial projections strengthen your position when negotiating loan terms with banks, subsidy conditions with authorities, or equity stakes with co-investors.
Beyond the immediate financing purpose, the completed study serves as a management roadmap — defining milestones, KPIs, and decision triggers for the investment's operational phase.
Whether you are preparing a bank financing application, a development law submission, or an internal investment decision, MBO delivers rigorous, independent analysis you can rely on.
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