Avialeasing” Company Annual Report of Closed Joint-Stock Company (zao)


Calculation of Business Ratios Finance Stability Appraisal upon Relative Indices



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Calculation of Business Ratios
Finance Stability Appraisal upon Relative Indices



Financial ratio

2002

2003

2004

2005

2006

Recom-mended values

Equity ratio

0,02

0,13

0,13

0,22

0,05

>0,5

Debt capital ratio (finance leverage)

0,98

0,87

0,87

0,78

0,95

<0,5

Own capital multiplier

48,95

7,93

12,38

9,29

68,5

-

Finance dependency ratio (debt to own funds)

47,95

6,93

6,69

3,60

20,12

<1

Long-term finance independence ratio

0,02

0,68

0,41

0,42

0,62

growth

Long-term investment structure ratio

0,00

0,74

0,39

0,29

0,70

-

Long-term debt ratio

0,00

0,81

0,68

0,48

0,92

-

Long-term investments coverage ratio (index of permanent assets)

35,90

5,83

5,51

3,16

1,32

-

Interest coverage ratio

0,73

-1,51

3,49

2,69

0,80

>1

Own working assets provision ratio

-2,67

-2,30

-2,07

-1,50

-4,41

>0,1

Own capital mobility ratio

-34,90

-0,50

-2,34

-1,25

-4,21

0,2-0,5

Actual property cost ratio

0,73

0,52

0,72

0,63

0,82

0,5


Balance-Sheet Liquidity Appraisal upon Relative indices


Item

2002

2003

2004

2005

2006

Recom-mended values




Liquidity and solvency ratios






















Coverage ratios (current solvency)

0,27

0,81

0,44

0,49

0,43

2




Interim solvency ratio (quick liquidity)

0,27

0,81

0,43

0,49

0,43

0,8 and >




Absolute liquidity ratio

0,10

0,68

0,10

0,16

0,03

>= 0,2-0,5




Finance Stability Appraisal upon Absolute Indices




Item

2002

2003

2004

2005

2006




Sources of own funds (thousands of rubles)

1,264

5,829

8,459

10,610

17,027




Non-working assets (thousands of rubles)

45,378

33,998

46,570

33,505

296,317




Sources of own working assets in form of inventories and expenses (thousands of rubles)

-44,114

-28,169

-38,111

-22,895

-279,290




Long-term credit and loan funds (thousands of rubles)

0

25,556

18,355

9,669

207,616




Sources of own assets, adjusted to the amount of long-term loan funds (thousands of rubles)

-44,114

-2,613

-19,756

-13,226

-71,674




Short-term credit and loan funds (thousands of rubles)

0

10,248

27,450

16,284

9,398




Total amount of asset sources with consideration of long-term and short-term loan funds (thousands of rubles)

-44,114

7,635

7,694

3,058

-62,276




Amount of inventory and stock accounted in assets (thousands of rubles)

34

208

1,855

1,233

5,620




Surplus (+)/deficit (-) of the sources of own working assets (thousands of rubles)

-44,148

-28,377

-39,966

-24,128

-284,910




Surplus (+)/deficit (-) of the sources of own assets and long-term loan sources (thousands of rubles)

-44,148

-2,821

-21,611

-14,459

-77,294




Surplus (+)/deficit (-) of total value of all sources to form reserves and expenses (thousands of rubles)

-44,148

7,427

5,839

51,825

-67,896


























Finance stability of the enterprise

Critical status

Relative stability

Unstable finance standing

Unstable finance standing

Critical status
Business Activity Figures

Item

2002

2003

2004

2005

2006

Assets turnover (times)

0,31

0,58

0,44

0,91

0,23

Inventory turnover (times)

0

0

9

13

8

Accounts receivable turnover (times)

2

14

4

5

1,59

Total debts turnover (times)

0,31

0,66

0,51

1,17

0,25

Accounts receivable turnover length (days)

200

26

96

76

230

Average inventory age (days)

no

no

no

no

44,32

Operating cycle length (days)

200

26

96

76

230

Own capital turnover (times)

15

5

3

4

5

Working capital turnover (times)

1

2

2

3

1


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