Information agency Credinform has prepared a ranking of the largest Russian manufacturers of packaging. The companies with the largest annual revenue (TOP-10) have been selected for the ranking, according to the data from the Statistical Register for the latest available accounting periods (2016, 2015 and 2014). Then they have been ranked by solvency ratio (Table 1). The analysis was based on the data from the Information and Analytical system Globas.
Solvency ratio (x) is a ratio of shareholders’ equity to total assets, and it shows the dependence of the company on external loans. Its recommended value: > 0,5. A value less than a minimum one is indicative of dependence on external sources of funds, which may result in a liquidity crisis, unstable financial standing in the event of economic downturn.
The whole set of indicators and financial ratios is to be considered in order to get a full and comprehensive insight into a company’s financial standing.
|Name, INN, region||Revenue, million RUB||Net profit, million RUB||Solvency ratio (x), > 0,5||Solvency index Globas|
| National Enterprise Naberezhnochelninsky paperboard plant S.P.Titov NJSC
Republic of Tatarstan
|8 268||9 418||1 283||1 262||0,89||0,89||148 Superior|
| AR Carton NJSC
|5 579||6 199||778||668||0,60||0,84||130 Superior|
| ALPLA LLC
|6 695||7 679||787||1 180||0,54||0,76||136 Superior|
| Stora Enso Packaging BB LLC
|6 595||7 733||903||1 415||0,56||0,74||148 Superior|
| Smurfit Kappa Saint Petersburg NJSC
|5 451||6 347||250||481||0,66||0,70||144 Superior|
| ARKHBUM NJSC
|6 169||7 650||217||817||0,47||0,57||176 High|
| Tetra Pak NJSC
|39 018||39 663||2 643||4 744||0,26||0,43||177 High|
| Huhtamaki CIS LLC
|5 074||6 261||151||591||0,23||0,35||202 Strong|
| RETAL NJSC
|16 073||15 118||705||657||0,30||0,26||203 Strong|
| GOTEK NJSC
|5 789||6 695||159||77||0,00||0,01||232 Strong|
|Total for TOP-10||104 710||112 762||7 876||11 893|
|Average value for TOP-10||10 471||11 276||788||1 189||0,45||0,56|
|Average value for TOP-1000||345||386||14||21|
Average value of solvency ratio for TOP-10 companies in 2016 is above the recommended value. Six of TOP-10 companies increased their revenue and net profit in 2015 – 2016 2016 compared to prior period (highlighted green in columns 2 – 5 of Table 1). Other companies had a decrease in revenue or net profit (highlighted red in columns 2 – 5 of Table 1).
Information Agency Credinform has observed the trends in activity for information and communication hardware wholesalers.
The largest enterprises (TOP-10 and TOP-1000) in terms of annual revenue were selected according to the data from the Statistical Register for the latest available periods (2015 and 2016). The analysis was based on data of the Information and Analytical system Globas.
Indicator of real cost of corporate assets, which is annually calculated as the difference between assets of the company and its debt liabilities. Net assets indicator is considered negative (insufficiency of property), if the company’s debts exceed net worth value.
|№ in the TOP-1000 list||Name, INN, region||Net assets value, mln RUB*||Solvency index Globas|
|1.|| LLC APPLE RUS
|1 428,4||9 154,5||15 606,6||196 High|
|2.|| OCS-CENTER LIMITED
|3 367,0||4 707,4||5 103,4||213 Strong|
|3.|| JSC CROC INCORPORATED
|3 253,8||3 285,2||3 367,7||188 High|
|4.|| COMPLETE COMPANY, LTD
|1 206,8||2 349,3||2 556,4||175 High|
|5.|| JSC JET INFOSYSTEMS
|541,9||1 084,3||2 286,9||162 Superior|
|996.|| LLC D-LINK TRADE
|997.|| Technologies, systems and complexes Limited
|998.|| LLC KORDEIL
|999.|| JSC R-STYLE
|1000.|| MARVEL COMPANY LIMITED
(Process of being wound up, 01.06.2017)
*) – growth/decline indicators compared to previous period are marked with green and red filling in columns 4 and 5 respectively.
In 2016 total revenue of 10 leaders of the industry amounted to 54% from TOP-1000 total revenue. This fact shows relatively low level of competition among the industry (Picture 2).
In general, the increasing tendency in sales revenue is observed (Picture 3).
Profit and loss
Profit of 10 leading companies in the industry was 70% from TOP-1000 total profit in 2016 (Picture 4).
For the ten-year period, the average industrial profit values have increasing tendency (Picture 5).
For the three-year period, the average profit indicators of TOP-1000 companies show the growing tendency and the average net loss decreases (Picture 6).
Key financial ratios
For ten years average indicators of the current liquidity ratio in the industry were within the interval of the recommended values – from 1,0 to 2,0 (Picture 7). In general, indicator of the ratio has increasing tendency.
Current liquidity ratio (the relation of the amount of current assets to short-term liabilities) shows the sufficiency of company’s funds for repayment of its short-term liabilities.
The experts of Information Agency Credinform, having taken into account the current situation in the economy as a whole and in the industries, has been developed and implemented in the Information and Analytical system Globas a calculation of practical values of financial ratios, which might be considered as normal for a certain industry. For the information and communication hardware wholesalers practical value of the current liquidity ratio was from 1,02 to 3,00 in 2016.
For the eight-year period, the instability of indicators of the return on investments ratio with increasing tendency is observed (Picture 8). The return on investments ratio ratio is calculated as a ratio of net profit to sum of equity and long-term liabilities and shows the return from equity involved in commercial activities and long-term borrowed funds.
Assets turnover ratio is the ratio of sales revenue and company’s average total assets for a period and characterizes the effectiveness of using of all available resources, regardless the source of their attraction. The ratio shows how many times per year the full cycle of production and circulation, generating profit, is performed.
For the ten-year period, this business activity ratio demonstrated, in general, the decreasing trend (Picture 9).
Production and services structure
The largest share in TOP-1000 total revenue take companies engaged in wholesale of computers, peripheral devices and software (Picture 10).
Main regions of activity
Companies TOP-1000 are distributed unequally on the territory of the country and registered in 64 regions (Picture 11).
Financial position score
The assessment of TOP-1000 financial position shows that major part has stable or above average financial position (Picture 12).
Solvency index Globas
The majority of TOP-1000 companies have got from superior to medium solvency index Globas, this fact shows the ability of the companies to pay their debts in time and fully (Picture 13).
Therefore, the complex assessment of the information and communication hardware wholesalers, taking into account main indexes, financial indicators and ratios, demonstrates the domination of favorable trends in the industry.