Information agency Credinform represents a ranking of the largest Russian producers of dairy products.
The largest milk, butter, cheese and ice0cream producers with the highest annual revenue (TOP 1000) were selected for the ranking, according to the data from the Statistical Register and the Federal Tax Service for the latest available periods (2014 – 2020*). The selection and analysis of companies were based on the data of the Information and Analytical system Globas.
The largest company in term of net assets is JSC WIMM BILL DANN, INN 7713085659, Moscow, production of milk (other than unpasteurized) and dairy products. In 2019, net assets value of the company exceeded 35 billion RUB.
The lowest net assets value among TOP 1000 belonged to JSC ALEV, INN 7302000183, Samara region, production of dairy products. The company was declared insolvent (bankrupt) and the bankruptcy proceeding has been initiating since July 27, 2020. In 2019, insufficiency of property of the legal entity was indicated in negative value of -2,9 billion RUB, and -3,4 billion RUB in 2020.
Covering the five-year period, the average net assets values of TOP 100 have a trend to increase with a negative growth rate (Picture 1).
Over the past five years, the share of companies with insufficient property had a positive trend to decrease (Picture 2).
In 2019, the revenue volume of ten largest companies was 33% of total TOP 1000 revenue (Picture 3). This is indicative of a quite high level of competition in the industry.
In general, there is a trend to increase in revenue with the decreasing growth rate (Picture 4).
Profit and loss
The largest organization in term of net profit is JSC DANONE RUSSIA, INN 7714626332, Moscow, production of dairy products. The company’s profit for 2019 exceeded 6 billion RUB.
Covering the six-year period, there is a trend to increase in average net profit with the decreasing growth rate (Picture 5).
For the six-year period, the average net profit values of TOP 1000 have the increasing trend with the increasing net loss (Picture 6).
Key financial ratios
Covering the six-year period, the average values of the current liquidity ratio were above the recommended one - from 1,0 to 2,0 with a trend to decrease (Picture 7).
Covering the six-year period, the average values of ROI ratio had a trend to decrease (Picture 8).
Covering the six-year period, business activity ratio demonstrated the decreasing trend (Picture 9).
77% of companies included in TOP 1000 are registered in the Register of small and medium-sized enterprises of the Federal Tax Service of the Russian Federation. Their share in total revenue of TOP 1000 is 18,9% that is slightly lower than the average country values in 2018-2019 (Picture 10).
Main regions of activity
Companies of TOP 1000 are registered in 79 regions of Russia, and unequally located across the country. Almost 30% of companies largest by total 2019 revenue are located in Moscow and Moscow region (Picture 11).
Financial position score
Assessment of the financial position of TOP 1000 companies shows that the majority of them have financial position above average (Picture 12).
Complex assessment of activity of the producers of dairy products, taking into account the main indexes, financial ratios and indicators, demonstrates the prevalence of positive trends in 2015 - 2020 (Table 1).
|Trends and evaluation factors||Relative share of factors, %|
|Dynamics of the average net assets value||10|
|Rate of growth (decrease) in the average size of net assets||-10|
|Increase (decrease) in the share of enterprises with negative values of net assets||10|
|Level of competition / monopolization||5|
|Dynamics of the average revenue||10|
|Rate of growth (decrease) in the average size of revenue||-10|
|Dynamics of the average profit (loss)||10|
|Rate of growth (decrease) in the average profit (loss)||-10|
|Growth / decline in average values of companies’ net profit||10|
|Growth / decline in average values of companies’ net loss||-10|
|Increase / decrease in average values of total liquidity ratio||-5|
|Increase / decrease in average values of return on investment ratio||-10|
|Increase / decrease in average values of asset turnover ratio, times||-10|
|Share of small and medium-sized businesses in terms of revenue being more than 20%||5|
|Financial position (the largest share)||10|
|Solvency index Globas (the largest share)||10|
|Average value of relative share of factors||0,6|
positive trend (factor), negative trend (factor)
<p >(*) – 2020 data is given for companies submitted the accounting reports to the Federal Tax Service until March 2021
Despite the 5% growth to 255 trillion RUB of total revenue, the 21% decrease in net profit was recorded and amounted to 15 trillion RUB, the largest fall compared to the 2008 results.
Consequences of the economic slowdown
The analysis of financial reports for 2020 revealed that every second company suffered from the economic slowdown: 782 thousand businesses received less net profit than in 2019, and the year-end loss was recorded for over 421 thousand enterprises.
In the manufacturing sector, the most affected segments are the production of vehicles and chemicals. The spring lockdown, imposed by the Government of the Russian Federation, lead to the decrease in net profit of automotive companies by 710 billion RUB, and this figure is 477 billion RUB for chemical enterprises.
Mining in the Russian Federation is export-oriented, so the industry is directly dependent on external demand. Due to similar restrictions in other countries, the demand for raw materials has decreased, and the volume of production capacity and the net profit of raw materials companies has fallen.
Agriculture and construction are one of the few industries that have shown growth during the recession of the Russian economy. The agro-industrial complex, along with the construction industry, kept working during the restrictions. Now agriculture is an independent, stable industry, and it was proved in spring 2020: with the peak demand for groceries, store shelves have always were full of goods.
The fall of the aggregate net profit of most industries, followed by the business limitation in 2020, had a negative impact on the formation of GDP. According to the Ministry of Economic Development and Trade, there was a 3% decrease in the volume of the Russian economy in 2020. Despite the difficult economic situation, the Ministry of Economic Development and Trade has updated the socio-economic forecast for Russia for 2021: GDP is expected to grow by 2.9% due to the stabilization of business and the recovery of consumer demand.
You can learn or update your knowledge on how to analyze the new financial data of your counterparties and to assess their financial situation at the webinar on June 2, 2021.