By the data of Informational and Analytical system Globas-i, 44 160 companies are registered in Russia, which are working at the travel agencies activity field. Among them only 1 500 organizations provided financial statement for 2011 to the Rosstat - the last reporting period.
Proceeding from the financial statements, the size of the tourist services market in Russia for 2011 makes more than 54 billion rub. In last reporting period (2010) this index was on mark in 37 bln rub. It has changed on 47%. However the net profit of travel agencies in 2011 decreased on 52% (340 mln rub.). Reduction of the net profit size during increasing in volumes of sales can speak about decreasing of industry’s efficiency functioning, including falling of sales profitability, which reflects ability of the company to supervise the expenses.
According to the Informational Agency Credinform most of the companies (44%), which are working at travel industry and provided financial statement for 2011, have satisfactory solvency index in Globas-i. Change of the economic situation can have the considerable impact on execution of their debt obligations. However there are also a lot of companies in this industry in Russia which have high solvency index (42%). Risk of failure to meet their financial obligations at such organizations is insignificant. Low solvency index was assigned to 11% of companies who filed financial reports. This group has high dependence not only on change of the economic situation, but also on borrowed funds. Unfortunately, in Russia there are very few travel companies which have the highest index – only 3%. In terms of cooperation, receiving profit and minimization of risks, the enterprises of this group would be the most attractive for investment and contracting.
|№||Name||INN||Turnover, ths RUB, 2011||Net profit, ths RUB, 2011||Solvency index|
|1||"FIRM NEVA" CJSC||7813034418||3 684 068,00||401,00||255 (high)|
|2||Versa Ltd||7802137274||3 392 209,00||10 993,00||223 (high)|
|3||SOLVEKS-TURNE LLC||7813080157||2 514 081,00||2 228,00||217 (high)|
|4||South Cross Travel LLC||7707650655||2 169 558,00||4 871,00||257 (high)|
|5||ACADEMSERVICE LTD||5024053441||1 766 151,00||5 239,00||241 (high)|
|6||Limited liability company "VODOHOD"||7707511820||1 748 113,00||24 314,00||260 (high)|
|7||"SIRENA-TRAVEL" JOINT STOCK COMPANY||7714171484||1 212 948,00||437 080,00||153
|8||CJSC AgentstvoDAVS||7704524814||631 860,00||45 258,00||173
|9||OJSC Intour-Khabarovsk Khabarovsk foreign tourism and commerce company||2702032046||615 755,00||11 364,00||204 (high)|
|10||LLC Interkom||7708676102||606 822,000||76 531,00||284 (high)|
By the results of 2011 the positive tendency was also outlined: in selection of working travel agencies there are no companies with unsatisfactory solvency index, in case of which cooperation with such companies is recommended to be rejected.
The main revenue part of Russian travel agencies is received by sending citizens abroad. In accordance with the Rosstat data in 2012 for the purpose of tourism Russians made 15,332 million trips and this is more than in 2011 on 5,8%. However, having compared the growth of citizens’ foreign tourist trips in previous years, it is possible to make a conclusion that in 2012 the interest to foreign tourism was low. For example, in comparison with 2010 in 2011 the growth was 15%, in 2010 relatively to 2009 – 32%.
Such development of travel market some experts explain by lowering of purchasing power of the population. Among possible reasons it is possible to mention the increasing of travel tour cost in 2012, which reduced demand on the mass directions. The growth of travel tour cost was caused by more attentive approach of tour operators to pricing questions. After record quantity of the bankruptcies which were marked last year in the tourist market, experts noted lowering of dumping wars activity, therefore the quantity of last-minute tours decreased.
It is interesting, that maximal growth of trips abroad relatively 2011 showed UAE. The number of travelers from Russia increased on 39%. Turkey, despite the maximum indexes of tours quantity, lost 6% relatively indexes of 2011. Indexes across Finland became rather unexpected: country visit for the purpose of tourism decreased on 44% in 2012. Most likely it is connected with entrance redistribution on the arrival purposes. Russians, entering by multi-visas to do shopping, began to specify the arrival purpose "private", instead of "tourist".
The main problem of the previous season remained bankruptcies of tour operators and travel agencies. In order to avoid similar mass cases since this year except expenditures on insurance operators will pay contributions to fund of the emergency help to tourists. The annual contribution will make 0,1% from turnover, but not less than 100 000 RUB. However there is open question, whether all the travel agencies will be able to pay such amount without prejudice to business and how it will affect on the price of travel products.
Credinform Information Agency prepared a ranking “Return on sales of manufacturers of fabricated rubber products (tyres, covers, inner tubes, etc.) in the Russian Federation”. For this ranking, we selected the fabricated rubber manufacturers with highest revenues in Russia; then, these producers were ranked upon “return on sales” index.
This financial indicator is one of profitability indices that characterize operating efficiency of a company. These indices are interesting first of all for investors and owners, since they characterize the efficiency of production and business activity and show, how much net profit the enterprise gets from one ruble of sales. In particular, the considered index – return on sales – is a ratio of net profit to the amount of revenues from all kinds of sales, and demonstrates the share of net profit in sales volume of the enterprise. Recommended value of the considered index changes depending on the industries. In this case this index shall be between 0 and 5.
|N||Name||INN||Turnover in 2011, ml rub.||Return on sales||Solvency index|
|1||Kordiant-Vostok CJSC||5506024164||2,894.57||-3.137||278 (high)|
|2||Nizhnekamskshina OJSC||1651000027||23,765.53||0.132||267 (high)|
|3||Ural Fabricated Rubber Products Factory OJSC||6664002550||2,329.06||1.274||281 (high)|
|4||Voltyre-Prom OJSC||3435900531||7,015.56||1.415||238 (high)|
|5||AvtoShinnaya Company LLC||2466084120||4,524.38||1.639||229 (high)|
|6||Omskshina OJSC||5506007419||11,844.30||3.148||199 (highest)|
|7||Yaroslavl Tyre Factory awarded with Lenin Order and October Revolution Order OJSC||7601001509||7,794.49||5.020||225 (high)|
|8||Kurskrezinotekhnika OJSC||4632001454||4,958.73||7.598||184 (highest)|
|9||MICHELIN Russian Tyre Production Company LLC||5073007462||15,994.45||8.169||234 (high)|
|10||Nokian Tyres LLC||4703073810||15,691.32||19.033||187 (highest)|
All companies from the top-ten with highest turnover were assigned by Credinform Agency with highest and high solvency index, which proves the efficiency of their business activity.
Return on sales index of Kordiant-Vostok CJSC is negative; however, other financial indicators speak for a high solvency of the company, which is proved by high GLOBAS-i index. Return on sales indices of Nizhnekamskshina OJSC, Ural Fabricated Rubber Products Factory OJSC, Voltyre-Prom OJSC, AvtoShinnaya Company LLC and Omskshina OJSC match with standard ratios in the fabricated rubber products industry.
Yaroslavl Tyre Factory awarded with Lenin Order and October Revolution Order OJSC, Kurskrezinotekhnika OJSC, MICHELIN Russian Tyre Production Company LLC and Nokian Tyres LLC exceeded the recommended return on sales index.
For retaining the market sustainability and ensuring the opportunities for further development, these enterprises need to pay more attention to return on sales, as well as to manage their liabilities structure more efficiently.