Solvency ratio of natural gas producers
During the energy crisis in Europe, Russia is increasing its foreign gas supplies. Eight of the ten leading gas producing companies in the country are included in Gazprom Group. Analysis of the solvency ratio shows, on average, a low dependence of TOP 10 enterprises on external loans in 2020, with declining revenues and growing profits.
Information agency Credinform has selected for this ranking in Globas the largest Russian producers of natural gas and condensate. Companies with the largest volume of annual revenue (TOP 10) were selected for the ranking, according to the data from the Statistical Register and the Federal Tax Service for the latest available periods (2018 - 2020). They were ranked by solvency ratio (Table 1).
The value of the ratio below the minimum one indicates a strong dependence on external sources of funds, which, if the market conditions deteriorate, can lead to a liquidity crisis and an unstable financial position of the company.
For the most complete and objective view of the financial condition of the enterprise, it is necessary to pay attention to the complex of indicators and financial ratios of the company.
|Name, INN, region||Revenue, million RUB||Net profit (loss), million RUB||Solvency ratio (x), >0,5||Solvency index Globas|
|JSC GAZPROM DOBYCHA TOMSK
INN 7019035722 Tomsk region
|42 540||32 891||5 375||4 423||0,67||0,73||253 Medium|
|LLC GAZPROM DOBYCHA ORENBURG
INN 5610058025 Orenburg region
|88 019||73 041||1 267||-309||0,69||0,68||272 Medium|
|LLC GAZPROM DOBYCHA NOYABRSK
INN 8905026850 Yamal-Nenets autonomous district
|62 531||81 025||1 283||4 367||0,22||0,62||237 Strong|
INN 8903021599 Yamal-Nenets autonomous district
|171 960||137 716||4 239||1 930||0,63||0,61||256 Medium|
INN 8912001990 Yamal-Nenets autonomous district
|51 742||44 073||4 408||5 950||0,68||0,54||157 Superior|
INN 8911020768 Yamal-Nenets autonomous district
|113 459||111 813||11 683||7 683||0,57||0,52||203 Strong|
|LLC GAZPROM DOBYCHA URENGOI
INN 8904034784 Yamal-Nenets autonomous district
|303 918||270 016||16 322||15 816||0,52||0,49||191 High|
|LLC GAZPROM DOBYCHA NADYM
INN 8903019871 Yamal-Nenets autonomous district
|209 533||211 011||2 390||4 777||0,30||0,41||217 Strong|
|LLC GAZPROM DOBYCHA YAMBURG
INN 8904034777 Yamal-Nenets autonomous district
|333 793||277 478||1 700||9 021||0,33||0,40||202 Strong|
|LLC GAZPROM DOBYCHA ASTRAKHAN
INN 3006006420 Astrakhan region
|94 612||78 928||982||237||0,37||0,35||281 Medium|
|Average value for TOP 10||147 211||131 799||4 965||5 390||0,50||0,54|
|Industry average value (oil and gas extraction)||15 939||10 749||2 421||1 798||0,65||0,66|
growth of indicator to the previous period, fall of indicator to the previous period
The average 2020 value of solvency ratio of TOP 10 was above the industry average one. Six of TOP 10 companies had decrease in 2020, while in 2019 the decrease was recorded for four companies.
Two of ten companies gained revenue and four ones gained net profit in 2020.
The decrease in average revenue was 10%, and there was 33% fall of the industry average value.
The average profit of TOP 10 have increased almost 9%. However, on average in the industry, the decrease was recorded by almost 26%.
The industry average values of solvency ratio have raised for three periods during the past 5 years. The highest value was recorded in 2018 and the lowest one was in 2016 (Picture 1).