On March 20, the Government commission on improving the sustainability of the Russian economy approved a new List of systemically important companies, the financial condition of which must be monitored and, if necessary, provided with the state support under the crisis. The list includes 645 organizations in respect of which a ban has been introduced on the filing of bankruptcy applications by creditors from April 06, 2020 to 05 May, 2020.
Information agency Credinform has prepared a review of trends of the largest Russian systemically important companies.
The largest companies (TOP-500) in terms of annual revenue were selected for the analysis according to the data from the Statistical Register for the latest available periods (2013-2018). The analysis was based on the data of the Information and Analytical system Globas.
The largest systemically important company in term of net assets is JSC GAZPROM, INN 7736050003, Moscow. In 2018, net assets value of the company exceeded 11 067 billion RUB.
The lowest net assets value among TOP-500 belonged to JSC UNITED CHEMICAL COMPANY URALCHEM, INN 7703647595, Moscow. In 2018, insufficiency of property of the company was indicated in negative value of -113 282 billion RUB.
Covering the five-year period, the average net assets values of TOP-500 companies have a trend to increase (Picture 1).
The shares of TOP-500 companies with insufficient property have trend to decrease over the past five years (Picture 2).
In 2018, the revenue volume of 10 largest companies of the industry was almost 47% of total TOP-500 revenue (Picture 3). This is indicative of relatively high level of concentration of capital.
In general, there is a trend to increase in revenue (Picture 4).
Profit and loss
The largest company in term of net profit is JSC GAZPROM, INN 7736050003, Moscow. The company’s profit for 2018 amounted to 933 billion RUB.
Over the five-year period, there is a trend to increase in average net profit (Picture 5).
For the five-year period, the average net profit values of TOP-500 companies have a trend to increase with decreasing average net loss values (Picture 6).
Key financial ratios
For the five-year period, the average values of the current liquidity ratio were slightly above the recommended one - from 1,0 to 2,0 with a trend to decrease (Picture 7).
For four out of five years, the average values of ROI ratio were relatively high with a trend to increase (Picture 8).
For the five-year period, business activity ratio demonstrated the increasing trend (Picture 9).
Systemically important companies included in TOP-500 are not registered in the Register of small and medium-sized enterprises of the Federal Tax Service of the Russian Federation.
Main regions of activity
Companies of TOP-500 are registered in 63 regions of Russia, and unequally located across the country. 60% of companies largest by revenue are located in Moscow and Saint Petersburg (Picture 10).
Financial position score
Assessment of the financial position of TOP-500 companies shows that the majority of them have financial position above average (Picture 11).
Complex assessment of activity of the largest Russian systemically important companies, taking into account the main indexes, financial ratios and indicators, demonstrates the prevalence of positive trends (Table 1).
|Trends and evaluation factors||Relative share of factors, %|
|Rate of growth (decline) 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||-10|
|Rate of growth (decline) in the average size of revenue||10|
|Rate of growth (decline) in the average size of 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|
|Financial position (the largest share)||10|
|Solvency index Globas (the largest share)||10|
|Average value of relative share of factors||5,8|
positive trend (factor), negative trend (factor).
Information agency Credinform represents the ranking of the largest systemically important enterprises of Russia. The companies with the largest volume of annual revenue included in the updated List of systemically important enterprises (TOP-10) were selected for the ranking, according to the data from the Statistical Register for the latest available periods (for 2016 - 2018). Then they were ranked by the return on costs ratio (Table 1). The analysis was made on the basis of the data of the Information and Analytical system Globas.
|Name, INN, region, type of activity||Revenue, billion RUB||Net profit (loss), billion RUB||Return on costs, %||Solvency index Globas|
INN 8602060555 Khanty-Mansijsk Autonomous District – Yugra
|1 144,37||1 524,95||149,74||827,64||20,23||88,99||172 Superior|
INN 1644003838 Republic of Tatarstan
Oil and petroleum (associated) gas production
INN 7736050003 Moscow
Wholesale of solid, liquid and gaseous fuels and related products
|4 313,03||5 179,55||100,30||933,14||5,04||28,83||141 Superior|
|ROSNEFT OIL COMPANY PJSC
INN 7706107510 Moscow
|4 892,93||6 968,25||138,97||460,78||1,84||6,87||174 Superior|
|GAZPROM NEFT PJSC
INN 5504036333 St. Petersburg
Wholesale of solid, liquid and gaseous fuels and related products
|1 374,52||2 070,01||154,86||90,17||11,66||4,19||176 High|
|RUSSIAN RAILWAYS PJSC
INN 7708503727 Moscow
Activity of railway transport
|1 697,55||1 798,40||17,50||18,36||3,37||3,43||193 High|
INN 7706061801 Moscow
Pipeline transportation of crude oil and petroleum products
|TRADING COMPANY MEGAPOLIS NJSC
INN 5003052454 Moscow region
Agent’s activities in wholesale of food
INN 2310031475 Krasnodar territory
Retail sale of food
|1 180,34||1 280,93||6,48||23,38||0,74||2,21||231 Strong|
INN 7825706086 St. Petersburg
Retail sale in non-specialized stores
|761,42||1 035,98||10,06||10,13||1,89||1,27||225 Strong|
|Avearge value by TOP-10 companies||1 743,19||2 229,09||75,05||258,46||8,85||18,89|
|Avearge value of TOP-500||78,40||94,67||5,78||9,83||20,76||33,26|
mprovement of the indicator to the previous period, decline in the indicator to the previous period
The average value of the return on costs of TOP-10 is below the average one of TOP-500. Six companies improved the result in 2018.
Over the course of 5 years, the average values of the return on costs ratio of TOP-500 companies tend to increase (Picture 2).