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Ranking the largest timber sawing and planing industry companies of St. Petersburg and the Leningrad region
Credinform Information Agency has come with the ranking release of timber sawing and planing industry companies of St. Petersburg and the Leningrad region. Ten companies with the largest sales revenues (as stated Statistics Register 2011) were selected and then ranked upon their accounts payable turnover.
The accounts payable turnover (days) is a relation of the average payables, taken for a certain time period, to the cost of goods sold. It shows the period (number of days) in which company discharges its liabilities.
| № | Company | Region | Turnover in 2011, mln. RUB | The accounts payable turnover(days) | Globas-i® solvency index |
|---|---|---|---|---|---|
| 1 | OOO "ECOTECH" Company Limited INN – Tax number: 4711005451 | The Leningrad Region | 83,4 | 426,1 | 292(high) |
| 2 | ZAO JV "KARET" INN – Tax number: 7817005947 |
St. Petersburg | 106,5 | 310,15 | 279(high) |
| 3 | OOO Ltd Volosovsky TPINN – Tax number: 4717009237 | The Leningrad Region | 142,3 | 164,67 | 285(high) |
| 4 | OAO Priozerskii Derevoobrabatyvayushchii zavod INN – Tax number: 4712000329 | The Leningrad Region | 349,8 | 113,17 | 315(sufficient) |
| 5 | OOO First Woodsteeping Works Ltd.INN – Tax number: 4708013050 | The Leningrad Region | 91,7 | 107,23 | 306(sufficient) |
| 6 | OOO OKC-5 Ltd.INN – Tax number: 7804408402 | St. Petersburg | 183,8 | 93,64 | 226(high) |
| 7 | ZAO Joint Stock Company Tichvinski kompleksni lesproINN – Tax number: 4715001850 | The Leningrad Region | 213,2 | 66,74 | 253(high) |
| 8 | ZAO DELOINN – Tax number: 4712013511 | The Leningrad Region | 134,1 | 65,25 | 235(high) |
| 9 | OOO Soyuz VINN – Tax number: 4704079332 | The Leningrad Region | 91,7 | 62,95 | 320(sufficient) |
| 10 | OOO Limited Liability Company Metsa Svir INN – Tax number: 4711005733 | The Leningrad Region | 1 635,6 | 12,08 | 244(high) |
Diagram. The accounts payable turnover of Top-10 timber sawing and planing industry companies of St. Petersburg and the Leningrad region
In the table, you find industry biggest companies of St. Petersburg and the Leningrad region. Following 2011 results, top-10 total turnover reached 3 032,1 mln. RUB. The average value of payable turnover ratio is 142 days.
You can see from the table that no company, except for OOO "ECOTECH" Company Limited, has exceeded 350 mln. RUB. of its turnover.
Following 2011 results, three companies on Top-10 list – OOO "ECOTECH" Company Limited, ZAO JV "KARET", and OOO Ltd Volosovsky TP – have the longest period of the accounts payable turnover, 426, 310 and 165 days respectively. The slow-paced turnover here is most probably reasoned by industry’s features like dependency on timber delivery, high prices monopoly tariffs etc.; besides, the sales revenues of these companies are relatively small – the so called ‘scale effect’ is less important here compared to the large companies. However, all these firms got the highest score in Credinform independent Globas-i® solvency ranking; this means they are able to discharge their liabilities duly and in time, and risk of becoming a default is rather minor.
Three companies – OAO Priozerskii Derevoobrabatyvayushchii zavod, with the accounts payable turnover 113 days, OOO First Woodsteeping Works Ltd., 107 days and OOO Soyuz V, 63 days – got Globas-i® sufficient ranking, which means there is no guarantee they will pay their liabilities out, duly and in time – besides, they are not strong enough to adapt to changing economic situation. Although the accounts payable turnover of these companies is lower than that of the Top-10 Big Three, there is a clear need for companies’ management to re-think their financial strategy – credit line drawdown terms, product markets, logistics policy, and marketing programmes.
The rest of the companies on Top-10 list got high solvency ranking – noteworthy, the accounts payable turnover of OOO "ECOTECH" Company Limited, 12 days, is much lower than that of the largest manufacturers. There is no big surprise here, however, - company’s revenues include ‘scale effect’ which makes it possible for it to discharge its current liabilities, duly and in time.