Article
The salary growth continues to increase in the 1st quarter of 2014

Despite the essential growth retardation, the situation in the field of employee compensation demonstrates the steady upward trend. The nominal gross salary on average per month in the Russian Federation in the 1st quarter of 2014 amounted to 30 092.1 rubles, having increased on 9.9% by the similar period of the last year.

The salary, higher than the national average, was assessed in 18 entities. The dwellers of the Far North and equivalent areas have the highest salaries (the excess is over 1.8-2.3 times).

Moscow is also on the top with its average salary 56 003.5 rubles (4th place). In St. Petersburg the payroll rate falls behind to Moscow’s by 1.5 times (37 556.8 rubles, 12th place).

According to the 1st quarter of 2014 the minimum salary was assessed in the Altai Krai - 17 908.5 rubles, in the Republic of Dagestan - 17 796.9 rubles and in the Republic of Kalmykia - 17 742.3. It is 4 times less than in regions with the highest payroll rate.

After the Crimea was joined to Russia, two new entities were formed: the Federal City of Sevastopol and the Republic of Crimea. Up to the present, the salary rate data was provided by the State Statistics Service of Ukraine and expressed in rubles it turned out to be 2.5-3 times less than the national average - 11 676.6 and 10 923.9 rubles, respectively. In comparison with the region with the minimum salary (the Republic of Kalmykia), even there will be its underrun: 34.2% for Sevastopol and 38.4% for the Republic of Crimea.

In relative terms the maximum salary growth according to the 1st quarter of 2013 was evidenced in the Republic of Dagestan - 16.4%, the minimum was in the Vologda Region – 4.2%.

Both capitals of Russia have almost the same salary rate growth – Moscow – 9.5%, St. Petersburg – 10.3%.

At the same time, the situation, when the ruble suffered from its devaluation at the beginning of the year, had an impact on the purchase power rate of salaries. In terms of dollars at the rate of the Central Bank the nominal salary in the 1st quarter of the current year decreased on 4.9% by the same period of 2013, Moscow – 5.2%, St. Petersburg – 4.5%.

As a result, the salary rate growth did not compensate the ruble’s devaluation to the major currencies in the majority of regions. The only exception is the Republic of Dagestan where the small runup to 0.8% was evidenced.

RankRegionThe nominal gross salary on average per month,
1st quarter of 2014, rub.
Changes by
1st quarter of 2013, %
Changes by
1st quarter of 2013 in terms of dollars at the rate of the Central Bank , %
The Russian Federation 30 092,1 9,9 -4,9
1 Chukotka Autonomous Okrug 70 969,0 9,1 -5,6
2 Yamalo-Nenets Autonomous Okrug 69 638,0 7,8 -6,7
3 Nenets Autonomous Okrug 63 120,4 8,1 -6,4
4 Moscow 56 003,5 9,5 -5,2
5 Magadan Region 55 046,8 4,3 -9,7
6 Khanty-Mansi Autonomous Okrug 54 139,2 8,9 -5,7
7 Sakhalin Region 52 545,2 14,8 -0,6
8 Tyumen Region 51 061,9 9,1 -5,6
9 Kamchatka Territory 49 448,4 13,0 -2,2
10 Sakha Republic (Yakutia) 45 834,8 15,3 -0,2
11 Murmansk Region 39 770,5 9,4 -5,3
12 St. Petersburg 37 556,8 10,3 -4,5
13 Komi Republic 37 253,0 8,5 -6,1
14 Moscow Region 36 095,6 9,4 -5,3
15 Khabarovsk Territory 33 366,7 8,6 -6,0
16 Arkhangelsk Region 33 168,8 12,4 -2,7
17 Krasnoyarsk Territory 31 845,1 10,5 -4,3
18 Primorye Territory 30 483,6 11,7 -3,4
19 Amur Region 30 015,8 7,1 -7,3
20 Leningrad Region 29 982,5 9,2 -5,5
21 Tomsk Region 29 807,7 9,9 -4,9
22 Irkutsk Region 29 692,5 12,3 -2,8
23 Republic of Karelia 28 110,6 10,0 -4,8
24 Sverdlovsk Region 27 844,2 8,4 -6,2
25 The Republic of Khakassia 27 327,4 11,5 -3,5
26 Jewish Autonomous Region 27 305,7 9,8 -5,0
27 Trans-Baikal Territory 26 817,3 9,5 -5,3
28 Chelyabinsk Region 26 033,8 12,3 -2,8
29 The Republic of Buryatia 26 028,3 13,7 -1,6
30 Kaluga Region 25 918,2 8,2 -6,3
31 The Republic of Tatarstan 25 807,0 10,2 -4,6
32 Kaliningrad Region 25 794,3 14,6 -0,8
33 Novosibirsk Region 25 420.9 9.1 -5.6
34 Kemerovo Region 25 315,5 7,0 -7,4
35 The Tyva Republic 25 229,2 13,8 -1,5
36 Vologda Region 25 136.9 4.2 -9.9
37 Perm Territory  25 116,6 13,9 -1,4
38 Omsk Region 24 441,6 8,8 -5,9
39 Krasnodar Territory 24 402,4 11,0 -3,9
40 Samara Region 24 124,2 13,3 -1,9
41 Nizhny Novgorod Region 23 989,6 12,9 -2,3
42 Tula Region 23 817,2 13,5 -1,8
43 Novgorod Region 23 344,2 10,2 -4,6
44 Yaroslavl Region 23 077,0 10,0 -4,8
45 Tver Region 22 655,5 10,5 -4,3
46 Belgorod Region 22 249,6 9,3 -5,4
47 Astrakhan Region 22 187,9 11,0 -4,0
48 Orenburg Region 22 151,1 12,6 -2,5
49 Udmurtia 21 989,9 13,6 -1,7
50 The Republic of Bashkortostan 21 964,0 7,0 -7,4
51 Volgograd Region 21 922,6 14,8 -0,6
52 Ryazan Region 21 909,0 9,8 -4,9
53 Voronezh Region 21 700,8 9,5 -5,3
54 The Chechen Republic 21 490,8 12,6 -2,5
55 The Republic of Ingushetia 21 375,5 13,8 -1,5
56 Rostov Region 21 372,8 8,4 -6,2
57 Lipetsk Region 21 062,1 8,4 -6,2
58 Kursk Region 20 956,7 11,9 -3,2
59 Vladimir Region 20 862,6 11,5 -3,5
60 Altai Republic 20 655,5 9,8 -4,9
61 Penza Region 20 496,3 11,1 -3,9
62 Smolensk Region 20 347,0 12,6 -2,5
63 Saratov Region 20 332,6 8,2 -6,4
64 Stavropol Territory 20 193,6 10,3 -4,5
65 Kirov Region 19 557,2 11,1 -3,9
66 Kostroma Region 19 525,9 10,5 -4,3
67 Ulyanovsk Region 19 468,0 12,0 -3,0
68 Kurgan Region 19 436,6 11,9 -3,1
69 The Republic of North Ossetia–Alania 19 417,9 10,7 -4,2
70 Pskov Region 19 260,8 7,2 -7,2
71 The Republic of Adygea 19 220,7 9,2 -5,5
72 Oryol Region 19 090,3 10,9 -4,0
73 Bryansk Region 19 082,3 11,7 -3,3
74 The Chuvash Republic 19 071,7 9,5 -5,2
75 Ivanovo Region 18 910,9 10,7 -4,2
76 Tambov Region 18 750,5 10,4 -4,5
77 The Mari El Republic 18 623,4 11,6 -3,4
78 The Kabardino-Balkar Republic 18 503,3 9,4 -5,3
79 The Karachay–Cherkess Republic 18 455,9 15,1 -0,4
80 The Republic of Mordovia 17 992,6 9,3 -5,4
81 Altai Territory 17 908,5 9,4 -5,3
82 The Republic of Dagestan 17 796,9 16,4 0,8
83 The Republic of Kalmykia 17 742,3 11,7 -3,3
84 Sevastopol (according to the State Statistics Service of Ukraine. expressed at the rate of the Central Bank) 11 676,6 8,7 -5,9
85 the Republic of Crimea (according to the State Statistics Service of Ukraine. expressed at the rate of the Central Bank) 10 923,9 11,1 -3,8
Ranking
The ratio of liabilities and assets of Russian textile enterprises

Information agency Credinform prepared a ranking of Russian textile enterprises.

The companies with highest volume of revenue were selected for this ranking according to data from the Statistical Register for the latest available period (for the year 2012). These enterprises were ranked by increase in value of the ratio of liabilities and assets.

The ratio of liabilities and assets (х) is the relation of long-term and short-term borrowings to total assets. It shows what share of assets of an enterprise is funded through borrowings.

Recommended value: from 0,2 to 0,5. If the ratio is equal to zero, then it testifies that an organization has no liabilities. If the ratio is above 1, it means that a company has on its books the value of liabilities higher, than its assets, what in terms of financial management should be considered as company's development policy being risky enough.

However, it should be understood, that recommended values can differ essentially as well for enterprises of different branches, as for organizations of the same industry.

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 industry-average indicators in the branch, but also to all presented combination of financial indicators and company’s ratios.

Table 1. Turnover, ratio of liabilities and assets and solvency index of the largest Russian textile enterprises (TOP-10)
NameRegionTurnover,in mln RUB, for 2012Solvency index GLOBAS-i®Ratio of liabilities and assets, (х)
1 Neftekamskoe proizvodstvennoe obedinenie iskusstvennyh kozh OJSC
INN: 0264005146
Republic of Bashkortostan 1 488 0,32 211(high)
2 JSC "Troitskaya Kamvolnaya Fabrika"
INN: 5046005770
Moscow 1 348 0,66 209(high)
3 Neotek OJSC
INN: 7736600070
Moscow 1 892 0,68 292(high)
4 "Merinos Carpet and Carpet Wares" CJSC
INN: 6165125323
Rostov region 1 079 0,77 247(high)
5 TORGOVY DOM DARGEZ LLC
INN: 7706406478
Moscow 1 381 0,93 217(high)
6 Kompaniya Nafta-Him LLC
INN: 7716206076
Moscow region 1 510 0,94 194(the highest)
7 PRYADILNO-NITOCHNY KOMBINAT IM. S.M. KIROVA OJSC
INN: 7825666563
Saint-Petersburg 1 166 0,95 206(high)
8 AVANGARDLLC
INN: 7826741774
Saint-Petersburg 1 648 0,97 220(high)
9 Kotovskii zavod netkannyh materialov CJSC
INN: 6820028830
Tambov region 1 421 0,97 229(high)
10 JSC "REGENT NON MATERIALS"
INN: 7722508646
Moscow 1 157 1,13 340(satisfactory)

Picture 1. Ratio of liabilities and assets and turnover of the largest Russian textile enterprises (TOP-10)

textile enterprises

Cumulative turnover of the first 10 largest textile enterprises of Russia made, according to last published financial statement, 14 090,6 mln RUB or 24,3% from sales revenue of TOP-100 companies in the same branch. This points to that this sector of the economy is fragmented, that there are no clear-cut monopolists.

Following organizations among TOP-10 on sales revenue showed the most optimal ratio values, supporting acceptable relation of liabilities to balance sheet assets: Neftekamskoe proizvodstvennoe ob’edinenie iskusstvennyh kozh OJSC (0,32), JSC "Troitskaya Kamvolnaya Fabrika" (0,66), Neotek OJSC (0,68), "Merinos Carpet and Carpet Wares" CJSC (0,77).

Neftekamskoe proizvodstvennoe ob’edinenie iskusstvennyh kozh OJSC (Iskozh) is the leader and the largest manufacturer and supplier of manmade materials for automotive, footwear and fancy goods industries, as well as for furniture and clothing trade in Russia and CIS countries.

JSC "Troitskaya Kamvolnaya Fabrika" is the leader of Russian textile industry on output of yarn for hand and machine knitting and different kinds of combed sliver (tops). Besides of that the factory produces covers with wool and artificial fillers.

Neotek OJSC is engaged in manufacturing and realization of cotton fabrics, furniture and textile products for household use through its own network of trade representations.

"Merinos Carpet and Carpet Wares" CJSC is one of the largest factories in Russia on production of carpets and rugs.

The rest companies from TOP-10 exceeded recommended values of the ratio, the value of liabilities on the books - over half from the value of assets.

However, according to the independent estimation of solvency, developed by the Information agency Credinform, all TOP-10 enterprises (except JSC "REGENT NON MATERIALS") got a high and the highest solvency index GLOBAS-i®, what guarantees that they can pay off their loan liabilities in time and fully. Risk of default in the nearest time is highly improbable; organizations are attractive objects for investment, especially considering high potential of the Russian market.

Satisfactory index by JSC "REGENT NON MATERIALS" may be largely due to the fact that liabilities exceed the value of assets on the books of the company.