Information agency Credinform has prepared a review of the activity trends of the companies of real economy in Saint Petersburg during the financial crisis of 2008 – 2009 years.
The largest enterprises (TOP-1000) in terms of annual revenue were selected for the analysis according to the data from the Statistical Register for the period of 2006 – 2011 years. The analysis was based on the data from the Information and Analytical system Globas.
The number of active companies
From 2006 to 2011, the number of active companies increased, but the growth rates decreased especially during the acute phase of the crisis.
The largest company of real sector of economy in Saint Petersburg in term of net assets was LLC GAZPROM MEZHREGIONGAZ, INN 5003021311. In 2011, net assets value of the company amounted to almost 296 billion RUB. In 2018, the figure was almost 794 billion RUB.
The lowest net assets value among TOP-1000 was recorded for JSC PARNAS-M, INN 7830001250, in respect of which the bankruptcy case is considering, and the external management has been introducing since April 2, 2017. In 2011, insufficiency of property of the company was indicated in negative value of -359 billion RUB, and -664 billion RUB in 2018.
In 2006-2011, the average net assets values of TOP-1000 had a trend to increase, and the growth rates were significantly decreased during the acute phase of the crisis in 2008-2009 (Picture 2).
The shares of TOP-1000 companies with insufficient property have trend to increase in 2006-2011(Picture 3).
The largest company of the real sector of economy in Saint Petersburg by revenue was JSC GAZPROM NEFT, INN 5504036333. The revenue volume exceeded 824 billion RUB in 2011, and almost reached 1810 billion RUB in 2019.
In general, there was a trend to increase in revenue with decreasing growth rate (Picture 4).
Profit and loss
The largest company in term of net profit is JSC GAZPROM NEFT, INN 5504036333. The company’s profit exceeded 54 billion RUB in 2011, and almost reached 217 billion RUB in 2019.
During the period of 2006 – 2011, the average profit figures of TOP-1000 companies had a trend to increase with the significantly decreasing growth rates in 2008 (Picture 5).
In 2006 – 2011, the average net profit figures of TOP-1000 companies had a trend to increase with the increasing average net loss (Picture 6).
Key financial ratios
In 2006 – 2011, the average values of the current liquidity ratio were above the recommended one – from 1,0 to 2,0, with a trend to increase. (Picture 7).
At the period of 2006 – 2011, there was a general trend to decrease in the average ROI values with a significant decline in 2008 (Picture 8).
In 2006 – 2011, there was a trend to decrease of this ratio (Picture 9).
43% companies of TOP-1000 are registered in the Register of small and medium-sized enterprises of the Federal Tax Service of the Russian Federation. However, their share in total revenue of TOP-1000 amounted 4,9% in 2011 (Picture 10).
Financial position score
According to the assessment, the financial position of most of TOP-1000 companies is above average in 2020 (Picture 11).
Solvency index Globas
In 2020, most of TOP-1000 companies got Superior / High and Strong / Medium index Globas. This fact shows their ability to meet their obligations fully and by the due date (Picture 12).
Complex assessment of activity of the largest companies of real economy sector of Saint Petersburg, taking into account the main indexes, financial ratios and indicators, demonstrates the prevalence of positive trends in 2006 - 2011 (Table 1).
|Trends and evaluation factors||Relative share of factor, %||Possible forecast|
|Dynamics of the number of active companies||10|
|Rate of growth of the number if active companies||-10||During the acute phase of the crisis and the period of recovery, rate of growth of the active companies may be decreased|
|Dynamics of the average net assets value||10|
|Rate of growth (decline) in the average size of net assets||10||During the acute phase of the crisis, rate of growth in the net assets may be decreased|
|Increase / decrease in the share of enterprises with negative values of net assets||-10||During the acute phase of the crisis and the period of recovery, the number of companies with negative values of net assets may be increased|
|Dynamics of the average revenue||10|
|Rate of growth (decline) in the average size of revenue||-10||During the acute phase of the crisis, rate of growth in revenue may be decreased|
|Dynamics of the average profit||10||During the acute phase of the crisis, the average profit may be decreased|
|Rate of growth (decline) in the average size of profit (loss)||10||During the acute phase of the crisis, rate of growth in average profit may be decreased|
|Growth / decline in average values of companies’ net profit||10||During the acute phase of the crisis, net profit may be decreased|
|Growth / decline in average values of companies’ net loss||-10||During the acute phase of the crisis and the period of recovery, net loss may be increased|
|Increase / decrease in average values of total liquidity ratio||5|
|Increase / decrease in average values of return on investment ratio||-10||During the acute phase of the crisis and the period of recovery, return on investment ratio may by decreased|
|Increase / decrease in average values of asset turnover ratio, times||-10||Business activity may by decreased during the acute phase of the crisis, and will be slowly increased during the period of recovery|
|Share of small and medium-sized businesses in terms of revenue being more than 20%||-10|
|Financial position (the largest share)||10|
|Solvency index Globas (the largest share)||10|
|Average value of relative share of factors||1,5|
positive trend (factor), negative trend (factor).
As of June 1, 2020, over 3 million for-profit companies operated in Russia, including the largest one by annual revenue – JSC ROSNEFT: turnover of the state corporation in 2019 amounted to 6 827 billion RUB.
There are also many private companies of various sectors of economy in the Russian market: from trade and energy sector to biotech and IT. Turnover of these companies is compatible with the volume of revenue in the state sector, and sometimes even exceed it.
The table 1 contains the list of TOP-10 companies by 2019 revenue, directly or indirectly (through other organizations) owned by the private sector.
|No||Company||Revenue in 2019, increase in revenue||Beneficiaries directly or indirectly owing over 25%|
|1||JSC SURGETNEFTEGAZ||1 556 billion RUB
|Minority shareholders 99,7%|
|2||LLC AGROTORG (Pyaterochka chain of stores)||1 234 billion RUB
|PEREKRESTOK HOLDINGS B.V. (Netherlands) 69,8%|
|3||JSC TRADING HOUSE PEREKRESTOK||907 billion RUB
|PEREKRESTOK HOLDINGS B.V. (Netherlands) 75,0%|
|4||JSC MMC NORILSK NICKEL||878 billion RUB
|UNITED COMPANY RUSAL PLC (Jersey) 27,8%
Minority shareholders 42,3%
|5||LLC LUKOIL-WESTERN SIBERIA||850 billion RUB
|Minority shareholders 93,5%|
|6||JSC TK MEGAPOLIS||745 billion RUB
|MEGAPOLIS HOLDINGS (OVERSEAS) LIMITED (Cyprus) 51,1%
Minority shareholders 48,9%
|7||JSC NOVATEK||529 billion RUB
|Minority shareholders 57,6%|
|8||JSC SIBUR HOLDING||463 billion RUB
|Mikhelson Leonid Vikotorovich 32,3%|
|9||JSC SEVERSTAL||458 billion RUB
|Mordashov Aleksey Aleksandrovich 30,4%|
|10||LLC LENTA||445 billion RUB
|LENTA PLC (Cyprus) 100%|
The analysis shows that small and medium-sized businesses belong to the private sector, and the state owns only major strategic and systemically important enterprises.