Українська   Русский
DonNTU   Masters' portal

Abstract

Сontent

 

Introduction

 

In today's globalized world characterized by an intensification of international economic cooperation, foreign th Worker elnost (FEA) is one of the important factors of sustainable development of a large enterprise. At the same time, the efficiency of foreign economic activity of such an enterprise, especially those operating in the global rough and polished market, which is ALROSA, largely determines the efficiency of its activities as a whole .

 

  1. Relevance of the topic

 

OJSC ALROSA occupies a central place in the ALROSA Group, which is a collection of widely diversified but interconnected enterprises. In this regard, it seems impossible to consider the efficiency of foreign economic activity of this company outside the Group, the central link of which it is. It should also be noted that the effectiveness of foreign economic activity of a particular enterprise is inappropriate to consider outside the general organizational and economic context of its activities, which forms the general parameters of the dynamics of individual indicators and a list of internal and external factors that affect the efficiency of foreign economic activity.

 

  1. Purpose and objectives of the study, planned results

 

The purpose of the study is to assess the efficiency of foreign economic activity of the production enterprise of AK ALROSA.

According to the designated goal, the following tasks were set and solved:

the organizational and economic characteristics of ALROSA were studied;

analyzed the foreign economic activity of OJSC ALROSA;

the efficiency of foreign economic activity of OJSC ALROSA was assessed, as well as the influence of certain factors on it.

 

  1. Research and development overview

 

The study of the problems of the development of foreign economic activity has found a corresponding reflection in the scientific works of such scientists as V.A. Barinov, S.V. Belozerova, D.G. Boris, E.M. Vakulchik , O.A. Knishek , M.A. Komissarova. , Kudryavets Yu.N., Pokrovskaya V.V., Popondopulo V.F., Savchenko O.B., E.T. Shafieva , Sheremet K.Yu. other.

 

  1. The main results of the study.

 

In 2018 g of . ALROSA Group Catching la leading position among the leading diamond companies in the world , Doba to 36.7 million carats of diamonds , accounting for 26% all her world diamond (Fig. 1). As seen in Fig. De Beers has a similar market share of 25% , followed by Rio Tinto by a significant 12% margin , and Petra Diamonds closes the top four with 3% .  

<

 

Structure of the diamond market in the context of mining companies

Figure 4.1 – Structure of the diamond market in the context of mining companies [3]

 

The results of calculating the relative performance indicators of OJSC ALROSA, calculated according to the financial statements , are shown in Table.3.

 

Table 3 – Performance indicators of OJSC ALROSA

Index

Reporting periods 

2015

2016

2017

2018

1 . Return on assets
(Net profit / Total assets),%

3.54

21.84

2.97

5.53

2 . Net profit margin
(Net profit / Revenue) ,%

9,7

50.5

7.3

11.3

3. Capital productivity
( Revenue / Fixed assets)

0.88

1.14

0.91

1.01

 

The performance efficiency of OJSC ALROSA is shown in tab. 3 is characterized from the standpoint of making a profit per 1 RUR , invested in the company's assets and directly in the company's economic activities, – the return on assets and the net profit margin, respectively, as well as the proceeds received from 1 RUR. ruble invested in fixed assets – return on assets. As can be seen from the calculation data ( Table 3), during 2015–2018 . the return on assets increased from 3.54% to 5.53%; net profit margin – from 9.7% to 11.3%, capital productivity from 0.88 to 1.01. At the same time, all three indicators had the same trends – a sharp increase in 2016 , followed by an equally significant decline and an increase to a level exceeding the value of 2015.The significant growth of 2016 is explained, as the studies have shown, by a sevenfold increase in net profit. this year.   

The influence of certain factors on the change in the gross profit of OJSC ALROSA in 2018 in comparison with 2017 is shown in Fig. eleven  

 

Influence of individual factors on the change in gross profit in 2018 , RUB million

Figure 4.1 – Influence of individual factors on the change in gross profit in 2018 , RUB million

 

As a result of factor analysis of formation of gross profit indicator 2018 g. versus 2017 Georgia (Fig. 11) found that the greatest effect (19573 mn .) Had an increase in revenue from the sale of diamonds. A significant impact (+2165 million rubles) was also exerted by the reduction in the cost of their production. The influence of other factors (Fig. 11) can be characterized as insignificant.

 

CONCLUSIONS

 

Based on the results of the analysis, it was established that OJSC ALROSA is a subject of foreign economic activity, structurally and functionally integrated into the ALROSA Group, the largest diamond mining company in the world. At the same time, more than 60% of all reserves and more than 70% of diamond production of the entire Group are concentrated in AK ALROSA, which justifies its central position in this structure.

The main type of ALROSA's VED is the export of gem–quality diamonds and polished diamonds to the world market, which accounts for more than 80% of the company's economic activity. The main exporters of the above products are: diamonds – Belgium, Israel and India, the total share of exports to which in 2018 amounted to 72.3%; polished diamonds – Belgium and Israel, which accounted for 60.6% of total polished exports. At the same time, the volume of sales of diamonds in monetary terms is more than 150 times higher than those for polished diamonds, which makes rough diamonds the main export item of ALROSA. 

In addition, diamonds play an important role in ensuring the efficiency of the company's foreign economic activity, since more than 80% of ALROSA's gross profit is formed precisely due to their export. At the same time, the net profit margin from diamond mining and sales is significantly higher than the same indicator for polished diamonds. The high efficiency of the company's foreign economic activity is evidenced not only by the levels of profitability, but also by the solvency. At the same time, it should be noted that there are a number of problems that need to be addressed related to foreign economic activity, namely: a deficit of own working capital and an insufficient level of financial stability.

 

LIST OF USED LITERATURE

 

  1. Годовой отчет АК АЛРОСА за 2016 г. [Электронный ресурс]. – Режим доступа: http://www.alrosa.ru
  2. Годовой отчет АК АЛРОСА за 2017 г. [Электронный ресурс]. – Режим доступа: http://www.alrosa.ru
  3. Годовой отчет АК АЛРОСА за 2018 г. [Электронный ресурс]. – Режим доступа: http://www.alrosa.ru
  4. Хромова Н.Г. Российско–индийское сотрудничество в отраслях алмазно–бриллиантового комплекса: дисс. на соиск. степ. канд. эк.наук / Н.Г. Хромова. – М.: МГИМО, 2019. – 227 С.
  5. Bain&Company [Электронный ресурс]. Бостон. – Режим доступа: https://www.bain.com/
  6. Аудиторское заключение о бухгалтерской отчетности АК АЛРОСА 2016 год [Электронный ресурс]. – Режим доступа: https://www.e-disclosure.ru
  7. Аудиторское заключение о бухгалтерской отчетности АК АЛРОСА 2017 год [Электронный ресурс]. – Режим доступа: https://www.e-disclosure.ru
  8. Аудиторское заключение о бухгалтерской отчетности АК АЛРОСА 2018 год [Электронный ресурс]. – Режим доступа: https://www.e-disclosure.ru
  9. Имамеева Р.Ф. Анализ ликвидности предприятия / Имамеева Р.Ф., Полюшко Ю.Н. // Economics. – 2018. – № 4 (36). – С. 80-83.
  10. Корзун Л.Н. Теоретические и практические аспекты оценки ликвидности предприятия / Корзун Л.Н., Бондарев П.В. // Политика, экономика и инновации. – 2017. – № 4. – С. 13–20.
  11. Сафонова Н.С. Методические особенности оценки ликвидности и платежеспособности предприятия / Сафонова Н.С., Блажевич О.Г., Бондарь А.П. // Бюллетень науки и практики. – 2016. – № 5 (6). – С. 434-440.