Asset turnover of the largest Russian hydropower enterprises

ranking 15/12/2017

Information agency Credinform offers a ranking of the largest Russian hydropower enterprises. The companies with the largest volume of annual revenue (TOP-10) were selected for the ranking, according to the data from the Statistical Register for the latest available periods (for 2015 and 2016). Then they were ranked by asset turnover ratio in 2016 (Table 1). The analysis is based on data of the Information and Analytical system Globas.

Asset turnover is calculated as a relation of sales proceeds to the average value of company's total assets for a period. The indicator refers to the group of activity ratios and characterizes the efficiency of use by a company of all available resources, apart from sources of their attraction. The ratio shows how many times a year the full cycle of production and circulation completes, which yields profit.

The experts of the Information agency Credinform, taking into account the actual situation both in the economy as a whole and in sectors, has developed and implemented in the Information and Analytical system Globas the calculation of practical values of financial ratios that can be recognized as normal for a particular industry. For companies on production, transmission and distribution of electrical power the practical value of the asset turnover ratio was from 0,61 in 2016.

For getting of the most comprehensive and fair picture of the financial standing of an enterprise it is necessary to pay attention to all combination of indicators and financial ratios.

Table 1. Net profit, revenue, asset turnover ratio, solvency index Globas of the largest Russian hydropower enterprises (TOP-10)
Name, INN, region Revenue, mln RUB Net profit, mln RUB Asset turnover, times Solvency index Globas
2015 2016 2015 2016 2015 2016
1 2 3 4 5 6 7 8
GIDROSPETSSTROIMONTAZH LLC
INN 6143079313 Rostov region
575,9 218,5 14,3 2,2 3,08 4,22 308 Adequate
NUGUSHSKII GIDROTEKHNICHESKII UZEL LLC
INN 0263015092 Republic of Bashkortostan
42,2 44,2 0,1 1 797,0 3,98 3,532 258 Medium
VILUI HYDROELECTRIC STATION-3 NJSC
INN 1433015048 Republic of Sakha ( Yakutia)
2 364,0 4 279,2 770,1 898,3 0,17 0,32 175 High
MAMAKANSKAYA GES NJSC
INN 3802010707 Irkutsk region
263,0 267,7 90,8 82,8 0,26 0,25 196 High
NORD HYDRO NJSC
INN 7801435581 Republic of Karelia
330,8 345,0 9,5 -3,3 0,22 0,20 311 Adequate
KAMCHATSKII GAZOENERGETICHESKII KOMPLEKS PJSC
INN 4101047002 Kamchatka territory
280,0 250,1 0,7 -32,8 0,21 0,20 221 Strong
BOGUCHANSKAYA GES PJSC
INN 2420002597 Krasnoyarsk territory
14 653,7 16 149,1 4 678,3 5 104,6 0,18 0,19 186 High
KOLIMAENERGO PJSC
INN 4908000718 Magadan region
2 057,9 2 395,5 16,8 163,6 0,12 0,14 238 Strong
Federal Hydro-Generating Company – RusHydro PJSC
INN 2460066195 Krasnoyarsk territory
107 099,0 115 033,0 30 022,0 41 877,0 0,12 0,13 162 Superior
KRASNOYARSKAYA GES NJSC
INN 2446000322 Krasnoyarsk territory
18 597,0 4 931,6 10 243,0 4 843,3 0,40 0,09 187 High
Total by TOP-10 companies 146 263,5 143 914,0 45 845,5 54 732,7      
Total by TOP-10 companies 14 626,3 14 391,4 4 584,6 5 473,3 0,87 0,92  
Industry average value 1 012,8 1 110,5 22,7 94,5 0,59 0,61  


The average indicator of the asset turnover ratio of TOP-10 companies in 2016 is above the practical value. Two from TOP-10 enterprises have the ratio value above the practical one and eight enterprises - below. Five from the TOP-10 companies reduced revenue or net profit indicators in 2016 in comparison with the previous period or have a loss (are marked with red filling in columns 3 and 5 in Table 1).

Picture 1. Asset turnover ratio and revenue of the largest Russian hydropower enterprises (TOP-10) Picture 1. Asset turnover ratio and revenue of the largest Russian hydropower enterprises (TOP-10)

The industry average values of the asset turnover ratio tend to decline over the past ten years. It can point to a gradual fall of companies’ business in this field of activity (Picture 2).

Picture 2. Change in the average industry values of the asset turnover ratio of the Russian companies on the production, transmission and distribution of electrical power in 2007 – 2016 Picture 2. Change in the average industry values of the asset turnover ratio of the Russian companies on the production, transmission and distribution of electrical power in 2007 – 2016

Eight from TOP-10 companies got the Superior and High or Strong and Medium solvency index Globas , that testifies to their ability to repay their debt obligations timely and fully.

GIDROSPETSSTROIMONTAZH LLC and NORD HYDRO NJSC got Adequate solvency index Globas, due to the information on their participation as defendants in arbitration cases. The forecast for the development of indices is stable.