Receivables turnover of housing and utility enterprises

ranking 29.03.2016

Information agency Credinform has prepared the ranking of housing and utility enterprises in Russia.

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 (2014). The enterprises were ranked by increase in receivables turnover ratio (Table 1).

Receivables turnover is a proportion of the average short- and long-term receivables for the period to sales revenue. It shows the average number of days required for debt recovery. The less is the number, the faster receivables turn to the monetary funds, therefore, liquidity of working capital increases. The ratio shows the efficiency of resources usage by the enterprise by taking the time factor into account. 

For the most comprehensive and fair view on the company’s financial condition it is necessary to pay attention not only to the average values in the industry, but also to the whole presented set of financial indicators and ratios of the enterprise.

Table 1. Revenue, receivables turnover and solvency index Globas-i of the largest housing and utility enterprises (TOP-10)
Name, INNRegionRevenue 2013, th RUBRevenue 2014, th RUBRevenue 2014 to 2013, %Inventory turnover, daysSolvency index Globas-i
1 TSN YASHMA (Partnership of real estate owners)
INN 5246030332
Nizhny Novgorod region 2 521 214 2 739 081 109 0,06 305 Satisfactory
2 TSZH DOM NA TRUBNIKOVSKOM (Housing cooperative)
INN 7704243740
Moscow 6 195 270 6 926 446 112 30,22 186 The highest
3 PAO  HOUSING MAINTENANCE OFFICE OF THE YUZHNOE BUTOVO DISTRICT
INN 7727702615
Moscow 2 611 630 2 560 126 98 52,86 224 High
4 STATE UNITARY MOSCOW ENTERPRISE ON OPERATION OF HIGH-ALTITUDE AND RESIDENTIAL BUILDINGS
INN 7704010270
Moscow 2 728 064 2 772 019 102 65,05 250 High
5 LLC MUNICIPAL MANAGING COMPANY – KRASNODAR
INN 2311104687
Krasnodar territory 3 892 295 3 834 603 99 74,82 255 High
6 LLC DEAPRTMRNT OF HOUSING AND PUBLIC UTILITIES  OF TOLYATTI
INN 6321300279
Samara region 1 166 379 2 909 506 249 87,58 298 High
7 PAO LYUBERTSY MUNICIPAL HOUSING TRUST
INN 5027130207
Moscow region 2 608 416 2 635 383 101 97,51 178 The highest
8 LLC PIC-KOMFORT
INN 7701208190
Moscow 2 980 475 3 448 666 116 99,90 250 High
9 LLC ADMINISTRATION OF HOUSING AND PUBLIC UTILITIES OF PETROPAVLOVSK-KAMCHATSKY
INN 4101122429
Kamchatka territory 4 910 727 4 500 547 92 117,15 345 Satisfactory
10 LLC ZHILSERVIS
INN 4202047190
Kemerovo region 4 720 676 340 Satisfactory

Receivables turnover of the largest housing and utility enterprises (TOP-10) varies from 0,06 days (TSN YASHMA) to 117,15 days (LLC ADMINISTRATION OF HOUSING AND PUBLIC UTILITIES OF PETROPAVLOVSK-KAMCHATSKY ). There was no calculation of index for LLC ZHILSERVIS because of the fact that the company was founded in 2014 and there are no financial accounts for the previous periods. 

Picture  1. Revenue and receivables turnover of the largest housing and utility enterprises (TOP-10)

Revenue and receivables turnover of the largest housing and utility enterprises

Annual revenue of the TOP-10 market leaders according to the data of financial account for the latest period (2014) was more than 37 bln RUB, that is 9% higher than in the previous period (among comparable range of enterprises).

Receivables turnover of the market leader according to revenue TSZH DOM NA TRUBNIKOVSKOM is 30,22 days. At that, the average value in the industry is 253,4 days. Consequently, all TOP-10 enterprises have values much less than the average value in the industry that is characteristic of the most powerful enterprises in the meaning of resources usage of taking the time factor into account.

7 participants of the TOP-10 list have got the highest and high solvency index Globas-i, that shows the ability to pay the debts in time and to the full extent, risk of non-fulfillment is minimal.

Totally in the housing and utilities service industry growing of problems is observed, connected with increase in receivables. For example, from 2010 to 2014, according to the Federal State Statistics Service (Rosstat), value of this index has grown in one and a half. (Picture 2).

Picture 2. Receivables turnover of the Russian organizations providing housing and utility services according to Rosstat (th RUB)

Receivables turnover of the Russian organizations providing housing and utility services according to Rosstat