Information agency Credinform has prepared a ranking of the largest Russian car manufacturers.
The TOP-10 list of enterprises was drawn up for the ranking in terms of revenue, according to the data from the Statistical Register for the latest available period (for the year 2014). Revenue trend data relative to previous period and coverage ratio are also represented (see table 1).
Coverage ratio (х) is the proportion of the company`s current assets to short-term liabilities. It shows funds adequacy of enterprise for repayment of short-term liabilities.
Recommended value: from 2,0 to 3,0. If index is less than 1, that demonstrates that short-term liabilities excess current assets.
For getting of the most comprehensive and fair picture of the financial standing of an enterprise it is necessary to pay attention not only to the average figures in the industry, but also to all presented combination of financial indicators and company’s ratios.
|№||Name||Region||Turnover, mlnRUB, 2014||Turnovergrowthto 2013, %||Coverage ratio, (х)||Solvency index of GLOBAS-i®|
|1||LLC Volkswagen Group Rus
|Kaluga Oblast||230 583||-4,4||0,7||282 high|
|Samara Oblast||189 370||8,1||0,6||295 high|
|3||LLC Nissan Manufacturing Rus
|Saint-Petersburg||152 033||21,8||1,2||269 high|
|4||CJC Renault Russia
|Moscow||110 592||4,4||1,0||223 high|
|Republic of Tatarstan||104 389||-2,6||1,3||252 high|
|6||LLC Ellada Intertrade
|Kaliningrad Oblast||91 640||15,8||1,0||228 high|
|7||LLC Hyundai Motor Manufacturing Rus
|Saint-Petersburg||85 392||7,1||2,0||219 high|
|8||LLC Automobile Plant Gaz
|Nizhny Novgorod Oblast||59 278||-13,9||0,8||302 satisfying|
|9||LLC Ford Sollers Holding
|Republic of Tatarstan||54 888||-34,7||0,8||327 satisfying|
|Kaliningrad Oblast||40 967||-4,4||0,8||290 high|
In our publication as of August 21, 2015 «New In Doing Business: Law And Realities» we mentioned the law on capital amnesty. Today we are going to dwell upon this legal act.
The Federal law of the Russian Federation as of June 8th, 2015 № 140-FZ «On voluntary declaration of assets and bank accounts (deposits) by natural persons and on introducing amendments to certain legislative acts of the Russian Federation» passed by the State Duma as of May 22nd, 2015 offered Russian citizens to declare from July 1st to December 31st, 2015 the foreign property, bank accounts, securities and stocks in the capital of foreign companies, on which the citizens gain income. In this respect the citizens are given guarantees to provide exemption from tax and criminal liabilities, if the deals related to foreign income were concluded before January 1st, 2015 within the property stated in the declaration. Declaration and guarantee procedures are documented by the law.
However, according to experts, law execution practice shows that the declaration procedures appeared to be very complicated and the guarantees – insufficient. Due to this only about 200 corresponding declarations were filed for the first half of the year of the law operation. At the same time several dozens of the cases of holding Russian citizens’ abroad accounts on the ground of check of their origin became known. Probably it was made in order to prevent financial assets from returning to Russia.
It was the proposal of the Association of Regional Banks to prolong the capital amnesty and the President of the Russian Federation proposed to extend the period for another 6 months in the Address to the Federal Assembly in December 2015. As a result as of December 22nd the State Duma passed the law at once in three readings № 401-FZ «On introducing amendments to article 5 of the Federal law «On voluntary declaration of assets and bank accounts (deposits) by natural persons and on introducing amendments to certain legislative acts of the Russian Federation» extending the declaration term to July 1st, 2016. The law was endorsed by the President of the Russian Federation as of December 29th and published in «Rossiskaya gazeta» as of December 31st, 2015.