Changes to the legislation

According to the amendments to the Tax Code of the Russian Federation made by the Federal law No. 100-FL dated April 20, 2021, the international companies operating on the territory of Russia are obliged to disclose data on their shareholders, beneficial owners and managers including information on individuals or public companies directly or indirectly holding 5% or more in the international company.

The amendments will come into force since January 1, 2022.

Data as of December 31 have to be provided to the tax authorities no later than March 28 in the year following the reporting year.

There is an administrative fine at the amount of 50 thousand RUB for failure to provide such information.

International companies registered with the tax authorities for the sole purpose of rendering e-services in Russia are exempt from this obligation.

Full list of foreign e-service providers registered in the RF as VAT payers is available to all users in the Lists we recommend of the Information and Analytical system Globas.

Net profit of shipbuilding enterprises

Information agency Credinform represents a ranking of the largest Russian shipbuilding enterprises. Companies with the largest volume of annual revenue (TOP 10 and TOP 100) 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 the net profit ratio (Table 1). The selection and analysis were based on the data of the Information and Analytical system Globas.

Net profit ratio (%) is net profit (loss) to sales revenue. The ratio is indcative of the level of profit on sales.

There is no standard value for this ratio. It is recommended to compare companies of the same industry or to analyse the changes in this ratio for a specified company. Negative value of the ratio shows there is a net loss. High value speaks about the effective operations.

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.

Table 1. Net profit, revenue, current assets to equity ratio and solvency index Globas of the shipbuilding companies (TOP 10)
Name, INN, region Revenue, million RUB Net profit (loss), million RUB Net profit ratio, % Solvency index Globas
2019 2020 2019 2020 2019 2020
1 2 3 4 5 6 7 8
INN 5223004199 Nizhniy Novgorod region
up9 066,6 up9 214,5 up1 880,0 down866,6 up20,74 down9,40 191 High
INN 5263006629 Nizhniy Novgorod region
up11 763,6 down11 709,2 up708,9 up1 019,7 up6,03 up8,71 195 High
INN 7838395215 Saint Petersburg
up68 832,0 up85 665,0 up509,7 up1 501,2 up0,74 up1,75 228 Strong
INN 7817315385 Saint Petersburg
down10 459,0 up11 137,5 up952,4 down189,3 up9,11 down1,70 206 Strong
INN 7805034277 Saint Petersburg
up20 736,6 down14 929,5 up-534,5 up173,4 up-2,58 up1,16 254 Medium
INN 4706000296 Leningrad region
up13 554,3 down10 990,4 down29,6 down-1 119,8 down0,22 down-10,19 300 Adequate
INN 3900000111 Kaliningrad region
down9 332,1 up11 288,7 down-2 757,7 up-1 723,1 down-29,55 up-15,26 316 Adequate
INN 2703000015 Khabarovsk territory
up13 675,9 up16 850,6 up-2 131,2 down-4 503,3 up-15,58 down-26,72 289 Medium
INN 2503032517 Primorye territory
up4 994,2 up11 061,5 down-3 990,9 down-4 154,0 up-79,91 up-37,55 313 Adequate
INN 7830001910 Saint Petersburg
down20 654,3 down18 929,8 down-6 444,2 down-7 878,8 down-31,20 down-41,62 269 Medium
Average value for TOP 10 up18 306,9 up20 177,7 down-1 177,8 down-1 562,9 up-12,20 up-10,86  
Average value for TOP 100 up2 369,6 up2 369,6 down-136,1 down-181,6 up1,49 down1,17  
Average industry value down386,6 down270,2 down-10,2 down-18,1 down-2,64 down-6,71  

вверх growth of indicator to the previous period, вниз fall of indicator to the previous period

The industry average values of the net profit ratio, as well as the values of TOP 10, were negative in 2020. Five companies decreased their values in 2020, while only three ones did in 2019.

In 2020, six companies gained their revenues, three ones increased net profit and one company reduced its loss.

The revenue of TOP 10 and TOP 100 climbed at average 10% and the industry average figure fell 30%. The loss of TOP 10 and TOP 100 jumped 33%. On average for the industry, there is a 77% increase in the loss.

Over the past five years, the industry average values of the net profit ratio have declined over three periods. The highest value was recorded in 2017 and the lowest one was in 2020 (Picture 1).

Picture 1. Change in the industry average values of the net profit ratio of shipbuilding enterprises in 2016 - 2020 Picture 1. Change in the industry average values of the net profit ratio of shipbuilding enterprises in 2016 - 2020