Accounts receivable turnover of enterprises, supporting the activity of maritime transport

Information agency Credinform prepared a ranking of enterprises, supporting the activity of maritime transport of Russia, on accounts receivable turnover.

The companies with the highest volume of revenue were selected for this ranking according to the data from the Statistical Register for the latest available period (for the year 2012). These enterprises were ranked by increase in accounts receivable turnover in days.

Accounts receivable turnover (days) is the relation of average accounts receivable for the period to sales revenue. This is the indicator of the speed of the repayment by an organization of its debts to suppliers and contractors. This ratio shows, how many times a year an enterprise has discharged the average amount of its accounts receivable. Consequently, the less is the ratio value, the soonest a company pays up current debts, what exercises a salutary influence over its solvency taken as a whole.

There is no specified value prescribed for the mentioned ratio, because it varies strongly depending on the branch, where each concrete enterprise conducts business.

Companies’ activity should be assessed relying on the industry-average indicator. 

Picture. Accounts receivable turnover and revenue of the largest enterprises, supporting the activity of maritime transport (TOP-10)

The revenue of the largest enterprises, supporting the activity of maritime transport (TOP-10), made 71,9 bln RUB, following the results of the latest published financial statement. The dynamics of the cumulative turnover in annual expression showed moderate growth - 8,4%. Industry leaders accumulate up to 48% of the revenue of all companies of this economy sector.

Except the company MIDGLEN LODZHISTIKS SAKHALIN LLC, where the slowest turnover of accounts receivable is fixed (400 days), other enterprises from TOP-10 discharge debts on average for 46 days.

Following three organizations of the TOP-list showed the turnover period less than one calendar month: SUDOKHODNAYA KOMPANIYA PAVINO LLC (18 days), Flot Novorossiyskogo morskogo torgovogo porta OJSC (19 days), NOVOROSSIYSKY MORSKOI TORGOVY PORT OJSC (21 days).

SUDOKHODNAYA KOMPANIYA PAVINO LLC – carries out bunkering and supply of oil products in Far East region.

Flot Novorossiyskogo morskogo torgovogo porta OJSC - is the largest tow company among similar enterprises, serving vessels at ports. This is the only one self-sufficient commercial organization, providing a full range of harbor services to ship-owners at Novorossiysk Port.

NOVOROSSIYSKY MORSKOI TORGOVY PORT OJSC - is the third port operator of Europe and unchallenged leader on the volume of cargo tonnage in Russian stevedoring market. To the Group belong the biggest two ports of Russia — Novorossiysk port on the Black Sea, Port of Primorsk on the Baltic Sea, as well as port of Baltiysk in Kaliningrad region.

Now therefore, from a creditor's point of view, business connection with organizations mentioned above is least risky, money is refund in minimum terms.

Moreover, all TOP-10 enterprises (except Murmanskoe morskoe parokhodstvo, where the net loss is fixed) got high values of the solvency index GLOBAS -i®, what points to sound enough financial standing of the branch, to investment attractiveness.

See also: Ratio of liabilities and assets of enterprises offering passenger water transportation services