Analysis of activity of company DTEK Zuevskaya TPP
Contain
Introduction
1. General characteristic of the LLC DTEK Zuevskaya TPP and its
main functions
1.1 The history of appearance and development of LLC DTEK Zuevskaya
TPP
1.2 Characteristics of the organizational management structure
1.3 Pricing policy of the thermal power station
2. Analysis of financial and economic performance indicators of
DTEK Zuevskaya TPP for 2009-2011
2.1 Analysis of the potential of the DTEK Zuevskaya TPP
2.2 Analysis of the property status of the DTEK Zuevskaya TPP for
the 2009-2011 years
2.3 Analysis of production and social infrastructure of the DTEK
Zuevskaya TPP for the 2009-2011 years
Conclusion
List of references
Introduction
Energy is one of the main factors of production
and the formation of modern society in general. Electric power is the leading
element of country's energy. Regarded as the industrial-technological complex,
it includes systems for power generation joint (combined) production of
electricity and heat as well as electricity transmission to the subscriber
installations consumers.accordance with the curriculum I did my practice work
in a limited liability company DTEK Zuevskaya TPP from 10th of
February 2014 to 23rd of February 2014. This company is a limited
liability and it is has the private form of ownership."DTEK
Vostokenergo" is the first and only one private power company in Ukraine
which occupies fourth part of the electricity market produced by thermal power
plants of Ukraine. LLC "DTEK Vostokenergo" includes three thermal
power plants (TPP): Zuevskaya, Kurahovskaya (both located in the Donetsk
region) and Lugansk (Lugansk region). The installed capacity of enterprises of
"DTEK Vostokenergo" is 4157 MW. Due to the successful reconstruction
of the equipment the installed capacity of the plant increased in 2009 to 32 MW
and in 2010 to 40 MW. All TPP "DTEK Vostokenergo" operate mainly on
thermal coal produced and enriched by DTEK.(DTEK) is the youngest of Ukrainian
stations and one of the most efficient in the industry. The station ranked
third among fourteen Ukrainian TPPs for production and supply of electricity on
the domestic energy market. For all the time the plant produced 156.7 billion
kWh of electricity. Installed capacity of TPP is 1245 MW. Currently three power
units are operated, one more is modernized. Among the secrets of success
experts called effective leadership and management (ZuTES included in the
company and is a part of DTEK "Vostokenergo"), professional staff,
and as well as a large-scale modernization of facilities in accordance with the
highest European standards. All this makes the station a modern and
cost-effective, and hence demanded.purpose of the practice is to acquire
practical skills in the collection and processing of primary information in the
performance of analytical calculations and the development of measures for
improvement of the economic and financial situation of the company.achieve this
goal the following objectives have been identified:
analyzed peculiarities of organizational
and management structure of the organization;
- analyzed the economic aspects of
production;
learn the principles of business
taxation.
During the practical training, it was:
learned the basic documents which ensure
correct functioning of the organization (work plan accounts, accounting
policies and documents);
- acquainted with the work of the main
areas of accounting (the movement of goods, cash, receivables, payments to
staff, etc.);
participated in a business enterprise;
Based on the reports for the three years it was conducted
research of the basic indicators of financial and economic activities of the
company, studied fixed assets and working capital, the cost of production and
manufacturing.
financial economic indicator company
1.
General characteristic of the LLC DTEK Zuevskaya TPP and its main functions
1.1
The history of appearance and development of LLC DTEK Zuevskaya TPP
thermal power station (ZuTES; previously ZuGRES -
2) is a thermal power plant, located 40 kilometers east of Donetsk (Donetsk
region, Ukraine). It is included to a private power generating company
"DTEK Vostokenergo". The plant is a dominant local employer for the
village of engineers, located 1 km south to the plant.in 1921, when the famous
electrification plan was approved, a small settlement in the Donbass was
destined to a great future. In 1932 it was put into operation Zuevskaya State
District Power Plant. By 1977 ZuGRES - 1, previously one of the most powerful
power stations of the Soviet Union has already developed its industrial life
and became an experimental research laboratory of All-union thermotechnical
Institute named by F. E. Dzerzhinsky. In its replacement it was beginning
erection of ZuGRES - 2, one power generating unit of which was more powerful
than all ZuGRES - 1 [3].starting point in the history of ZuGRES-2 can be
considered as May 15, 1974, when the decree of Ministry of Energy of the USSR
was approved future power capacity equal to 2400 MW. For the construction of
ZuGRES-2 were withdrawn unsuitable for agriculture steppe lands.first director
of power plant was V.I. Yakovlev. He was replaced by P. Sheremet, who headed
Mironovskaya TPP until 1976.project Zuyevskaya power which has capacity 2 400mW
on 8 power generating units by 300 MW each, was developed by the Kharkov
Scientific-Research and Design Institute. The first power unit is scheduled in
1979, two following - in 1980, three blocks - in 1981 and the last two - in
1982.
. 1.1 The beginning of construction, 1975
construction of Zuyevskaya GRES-2 began
after approval by management of Ukraine the plan about the building of a
fundamentally new power plant construction.
. 1.2 The Construction of cooling tower, 1979
of the main problems was the water supply.
It was necessary to create a powerful reservoir. The station is located on the
numerous mine workings that are not allowed to dig a pit to 200m. cubic meters
of water. So it was decided to build cooling towers. Due to lack of experience
and experts, especially the first tower erection was conducted with great jams.
When the first two blocks were launched in 1982, the tower is not yet built. It
was decided to construct spray pond. This allowed operating power units number
1 and number 2 to enter into the work of the cooling tower number 1.GRES - 2 is
intended to cover the deficit of electric Donbass power grid, which is part of
the Unified Energy System of the south. The main fuel was designed Donetsk gas
coal.of ZuGRES - 2 coincided with the adoption of the country's total
government program to encourage the construction of nuclear power plants. This
caused problems during construction. After entering the first two cooling units
the construction of ZuGRES - 2 was suspended. Director power P. Sheremet had to
apply to higher authorities to prove the absurdity of the idea of stopping the construction. The
Chernobyl accident in April 1986 confirmed the need commissioning of new
generating capacity in thermal power plants. The construction of ZuGRES - 2 was
continued, it was put into operation another two units (December 1986 and
December 1988).hourly fuel consumption on four units at their nominal capacity
is 580 tons, the maximum daily consumption - 14,000 tons. Receiver with two
rotary car-dumpers designed for unloading of wagons with coal tonnage 60, 93,
125 tons."DTEK Vostokenergo" it was implemented the strategy of
energy conservation and environmental policy priorities that have already
helped to reduce emissions of ash into the atmosphere at power, past
reconstruction, by 50%.2007, "DTEK Vostokenergo" conducted a
large-scale modernization program, designed for up to 2016. The program aims to
increase the reliability and efficiency of power equipment, and, as a consequence,
reduce the cost of electricity produced.
1.2
Characteristics of the organizational management structure
company has the following registration
information:
LLC DTEK Zuevskaya TPP;
- Address: Zugres, Donetsk region, 60
years of October street, 100;
EDRPO 26160818;
Telephone number: (06257) 50-3-59,
additional phone: (06257) 50-3-11.
Main types of activity of Zuevskaya TPP are:
.1 Production, transmission and distribution of
electricity
.21.1 General construction of buildings (new
works, replacements).company is a legal entity from the date of state
registration and conducts its activities in accordance with the Statute of the
company. The organizational structure of the company related to the achievement
of its global goal. In the number of internal factors that affect the
efficiency of the operation of the company's nominated staff and organizational
structure of the management that is closely dialectical relationship. The
organizational structure is the material base of the management system enterprise
largely determines the efficiency of its activities. It affects the efficiency
of the operation of the company. Subsidiaries, branches, representative offices
and other separated structural branches to the structure of the company are not
included. Changes in the organizational structure in accordance with the
preceding reported period were not held. No proposals about reorganization by
third persons during the reporting period have been reported.
At the enterprise the control system for the
quality of manufactured products developed and operate. All products shipped
according to TU, which approved by Ministry of Fuel and Energy. In the company
it is implemented measures to protect the environment.
1.3
Pricing policy of the thermal power station
to restrictions to data resources on the
enterprise there are given the results of the pricing of the production only
for 2001 year. is seen that electricity supply was 4725212 thous. kWh; the
price for 1 untit was 0,1119; and the overall cost was 566080,4 thous.uaH. The
supply of thermal energy was 48500 Gcal, price for 1 unit - 51,05 and the cost
- 2475,9 thous.uaH. Other products 996 m3, for the cost - 317,1 thous.uaH. But
the cost price actual was differ: for electricity - 0,1201 for 1 unit of UAH;
thermal energy - 45,01 for 1 unit of UAH and other products - the cost was less
220 thous.uaH.
2.
Analysis of financial and economic performance indicators of DTEK Zuevskaya TPP
for 2009-2011
2.1
Analysis of the potential of the DTEK Zuevskaya TPP
It was studied the Form 1-PF Report about labor
and analyzed the development and growth of the average wage, the growth of
production, number of employees and production.results are given in Table 2.1
It shows the connection between the increase rate of productivity and average
salary, between the increase of production, amount of workers and productivity,
their influence on extra costs on labor remuneration and determines the reasons
of that.
Table 2.1 - Dynamics of indicators of the use of
labor potential Zuevskaya TPP for 2009-2011 years.
|
Indicators
|
Units
|
2009
|
2010
|
2011
|
Growth
(+), decrease (-),%
|
|
|
|
|
|
2010
to 2009
|
2011
to 2010
|
2011
to 2009
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
|
1.
Output
|
thous.uaH
|
572235
|
699459
|
861289
|
+18,2
|
+18,7
|
+33,5
|
|
2.
Average number of employees
|
people
|
922
|
906
|
897
|
-1,8
|
-1
|
-2,8
|
|
3.
Labour productivity
|
thous.
hr. /man
|
620,6
|
772,02
|
960,2
|
+19,6
|
+19,6
|
+35,4
|
|
4.
Gross wages
|
thous.uaH
|
29953,7
|
34764,5
|
41642
|
+13,8
|
+16,5
|
+28,1
|
|
in %
to output
|
5,2
|
4,9
|
4,8
|
-6,1
|
-2,1
|
-8,3
|
|
6.
The average monthly wage of the worker
|
UAH
|
32487,7
|
38371,4
|
46423,6
|
+15,3
|
+17,3
|
+30
|
calculation of increase (reduction) rate indexes
is conducted based on evident given data with the use of chain and base
methods., we can see that output of the Zuevskaya TPP increased in 2010
compared to 2009, and in 2011 to 2009 by 33,5 %. The average number of
employees decreased each analyzed year, but labor productivity increased. The
gross wages grew in 2010 and more in 2011 by 28,1% compared to 2009. This
changes in labor cost was due to increase in salaries (tariff rates) on the
basis of the Law of Ukraine "On setting the subsistence minimum and the
minimum wage " from 20.10.2009 № 1646 - VI; - increase in the variable
portion of salaries, namely the growth of bonus payments from 15% to 25%;
payments for personnel of Zuevskaya TPP compensation for length of service (in
accordance with the Collective Agreement of Zuevskaya TPP benefits payments for
employees who dismissed for retirement voluntarily (in accordance with the
Collective Agreement of Zuevskaya TPP) [1].next point is the analysis of the
qualitative characteristics of the labor potential of the Zuevskaya TPP.
Table 2.2 - Analysis of the qualitative
composition of the labor potential of the Zuevskaya TPP
|
Groups
of workers
|
Number
of employees in 2009
|
Proportion,
%
|
Number
of employees in 2010
|
Proportion,
%
|
Number
of employees in 2011
|
Proportion,
%
|
|
By
age, years:
|
|
|
19-34
|
252
|
26,89
|
258
|
28,04
|
282
|
30,38
|
|
35-50
|
303
|
32,33
|
295
|
32,06
|
281
|
30,28
|
|
50-59
|
280
|
29,88
|
268
|
29,13
|
276
|
29,74
|
|
over
60
|
99
|
10,56
|
99
|
10,76
|
89
|
9,59
|
|
Total
|
937
|
100
|
920
|
100
|
928
|
100
|
|
By
work experience, years
|
|
|
from
1 to 2
|
162
|
19,49
|
150
|
17,84
|
138
|
16,41
|
|
from
3 to 4
|
86
|
10,35
|
106
|
12,6
|
130
|
15,46
|
|
from
5 to 6
|
87
|
10,47
|
73
|
8,68
|
72
|
8,56
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
|
from
7 to 9
|
128
|
15,4
|
129
|
15,34
|
109
|
12,96
|
|
more
than 10
|
368
|
44,28
|
383
|
45,54
|
392
|
46,61
|
|
Total
|
831
|
100
|
841
|
100
|
841
|
100
|
, we can see that employees by age 35-50 take the
biggest share in all analyzed period. In the group of workers according to work
experience almost half of the workers have experience of work more than 10
years. It is natural because many people work on the station all their lives.,
it should be noted that the company DTEK (and Zuevskaya TPP) value a lot their
staff. Basis for sustainable development of DTEK is highly qualified personnel.
Effective human resource management, continuous staff development, motivation
and safety are the priority issues of the company. The company invested a lot
in the social development, environment protection, and DTEK planned to invest
in social development of Zugres 11.4 million UAH in 2013-2015 [4].
2.2
Analysis of the property status of the DTEK Zuevskaya TPP for the 2009-2011
years
part of the report is of analytical nature and is
devoted to the analysis of the financial condition of the company. It also
describes economical conditions of the company, functional duties of this
department.analysis of any enterprises production activity is based on the main
report documents. So, in the analysis of the DTEK Zuevskaya TPP I used the
reports for tree years (2009-2011) such as:
Form 1 Balance
sheet (Appendix A);
Form 2 Profit
and loss statement (Appendix B);
Form 3 Cash
flow statement (Appendix C);
The analysis of the industrial and economic
activity of the enterprise I began with the analysis of property status of the
DTEK Zuevskaya TPP.of the property status of the commercial organization of its
balance sheet begins with a study of the volume, composition, structure and
dynamics of the property in the context of its two main components: current and
non-current assets (Table 2.3).
Table 2.3 Characteristics of the property in the
context of current and non-current assets of the DTEK Zuevskaya TPP 2009-2011
|
Indicator
|
2009
|
2010
|
2011
|
Growth
(+), decrease (-),%
|
|
thous.uaH
|
%
|
thous.uaH
|
%
|
thous.uaH
|
%
|
2010
to 2009
|
2011to
2010
|
2011
to 2009
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
10
|
|
Non-current
assets
|
165224
|
90,3
|
167526
|
87,63
|
395140
|
86,65
|
+1,37
|
+57,6
|
+58,2
|
|
Current
assets
|
17751
|
9,7
|
23659
|
12,37
|
60858
|
13,35
|
+24,97
|
+61,12
|
+70,83
|
|
Enterprise
value of the property
|
182975
|
100
|
191185
|
100
|
455998
|
100
|
+4,29
|
+58,07
|
+59,87
|
, this tendency characterizes to accelerate the
turnover of current assets. The result is a conditional release of funds to the
most mobile forms (cash and short-term investments). In 2010 year the amount of
current assets increased by 24,97 % and possessed 12, 37 % of a total amounts
of the assets of the enterprise compared to 2009 it was 9,7 %. In 2011 the
amount of assets increased dramatically by 57,6% for non-current assets and for
current - 61,12%.analysis of the volume of the composition, structure and
dynamics of the real assets of the enterprise was made.assets characterize the
productive capacity of the industrial enterprise and include their intangible
assets (net book value), fixed assets (net book value), inventories (raw
materials, and other similar items), work in progress.
Table 2.4 Analysis of real assets of the DTEK
Zuevskaya TPP 2009-2011
|
Indicator
|
2009
|
2010
|
2011
|
Growth
(+), decrease (-),%
|
|
thous.uaH
|
%
|
thous.uaH
|
%
|
thous.uaH
|
%
|
2010
to 2009
|
2011
to 2010
|
2011
to 2009
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
10
|
|
Intangible
assets
|
20341
|
12,72
|
6053
|
3,69
|
7974
|
2,67
|
-236,05
|
+24,09
|
-155,09
|
|
Fixed
assets
|
135127
|
84,47
|
154601
|
94,22
|
285866
|
95,89
|
+12,60
|
+45,92
|
+52,73
|
|
Inventories
|
4506
|
2,82
|
3431
|
2,09
|
4269
|
1,43
|
-31,33
|
+19,63
|
-5,55
|
|
Work
in progress
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Total
real assets
|
159974
|
100
|
164085
|
100
|
298109
|
100
|
+2,51
|
+44,96
|
+46,34
|
, from the table it is seen that intangible
assets decreased in 2010 by 236,05% and 2011 by 155,9 % compared to 2009 due to
declining in the amount of the article construction in progress. Increase in
total real assets indicates a growing productive capacity of the industrial
enterprise and is considered as a positive phenomenon. In analyzed enterprise
in the period of 2009 - 2011 the amount of real assets increased by 2,51% in
2010 compared to 2009 and by 46,34% in 2011.it is calculated and analyzed financial
ratios describing the financial situation of a company, the main of which are
presented in Table 2.5.
Table 2.5 Key financial ratios that characterize
the financial situation of the DTEK Zuevskaya TPP 2009-2011
|
Financial
coefficient
|
2009
|
2010
|
2011
|
Growth
(+), decrease (-),%
|
|
|
|
|
2010
to 2009
|
2011
to 2010
|
2011
to 2009
|
|
1
|
3
|
4
|
6
|
7
|
8
|
|
Dynamics
of property
|
1,01
|
1,04
|
2,38
|
+2,88
|
+56,30
|
+57,56
|
|
Share
of non-current assets in the property
|
0,9
|
0,88
|
0,87
|
-2,27
|
-1,15
|
-3,45
|
|
The
share of current assets in the property
|
0,1
|
0,12
|
0,13
|
+16,67
|
+7,69
|
+23,08
|
|
The
share of real estate in the property
|
0,87
|
0,86
|
0,65
|
-1,16
|
-32,31
|
-33,85
|
|
The
share of inventories in current assets
|
0,25
|
0,15
|
0,1
|
-66,67
|
-50,00
|
-150,00
|
|
The
share of fixed assets in non-current assets
|
0,82
|
0,92
|
0,72
|
+10,87
|
-27,78
|
-13,89
|
|
The
share of intangible assets in non-current assets
|
0,12
|
0,04
|
0,02
|
-200
|
-100
|
-500
|
|
The
share of construction in progress in non-current assets
|
0,13
|
0,01
|
0,02
|
-1200
|
+50
|
-550
|
coefficient of the dynamics of property
characterizes the trend of the growth rate of the property of an organization
in an accounting estimate. Growth of this indicator is a positive assessment,
as evidenced by the expansion of the scope of its business activities. It is
seen from the table that the coefficient of the dynamics of the property
increased each analyzed year; in 2011 it grow by 57,56% compared to 2009. Share
of non-current assets in the property reflects the proportion of non-current assets
in the property of a commercial organization. Its increase is a sign of
mobility decreases property and therefore deserves a negative assessment. In
the analysis this coefficient decreased slightly by 2% avg., but it means that
it is grown the mobility of the property and it is a positive trend. The share
of current assets in the property shows the proportion of current assets in the
property of a commercial organization. Its growth indicates an increase in the
mobility of the property and therefore deserves a positive assessment. It
increased by 16,67% in 2010 compared to 2009, and by 23,08% in 2011. The share
of real assets in the property reflects the share of real estate assets in the
industrial enterprise. It decreased by 32,31% in 2011 compared to 2010, and
this reduction of this indicator indicating that reducing the productive
capacity of the industrial enterprise, so it is a negative trend. The share of
fixed assets in non-current assets reflects the proportion of assets in
non-current assets of the organization. Its high value, usually characterizes
the orientation of the creation of the material conditions of the current
expansion of the company. In analyzed case it increased by 10,87% in 2010 to
2009, but fall by 27,78% in 2011 compared to 2010 and by 13,89% to 2009. The
share of intangible assets in non-current assets shows the proportion of
intangible non-current assets of the commercial organization. Its high value
usually indicates the nature of the innovation strategy of the enterprise. The
value of this coefficient is not big, and decreased by 200% in 2010 to 2009,
and by 500% in 2011 to 2009. The share of construction in progress in
non-current assets shows the share of construction in progress in non-current
assets of the commercial organization. Growth of this index as a whole deserves
a negative assessment as construction in progress, are usually not involved in
the ongoing activities of the enterprise. It decreased by 1200% in 2010 to 2009
and by 550% in 2011 compared to 2009.next step is an analysis of volume,
composition, structure and dynamics of non-current assets of the commercial
organization (Table 2.6).
2.6 Analysis of non-current assets of the DTEK
Zuevskaya TPP 2009-2011
|
Indicator
|
2009
|
2010
|
2011
|
Changes
|
|
thous.uaH
|
%
|
thous.uaH
|
%
|
thous.uaH
|
%
|
2010
to 2009
|
2011to
2010
|
2011
to 2009
|
|
|
|
|
|
|
|
rate
of increase,%
|
accession
rate,%
|
rate
of increase,%
|
accession
rate,%
|
rate
of increase,%
|
accession
rate,%
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
|
|
|
8
|
9
|
10
|
|
Intangible
assets
|
20341
|
10,98
|
6053
|
3,51
|
7974
|
2,64
|
29,76
|
-70,24
|
131,74
|
31,74
|
39,
20
|
-60,80
|
|
Fixed
assets
|
135127
|
72,93
|
154601
|
89,76
|
285866
|
94,59
|
114,41
|
14,41
|
184,91
|
84,91
|
211,55
|
111,55
|
|
Work
in progress
|
20700
|
11,17
|
2132
|
1,24
|
8293
|
2,74
|
10,30
|
-89,70
|
388,98
|
288,98
|
40,06
|
-59,94
|
|
Long-term
investments
|
50
|
0,03
|
50
|
0,03
|
50
|
0,02
|
100,00
|
0,00
|
100,00
|
0,00
|
100,00
|
0,00
|
|
Deferred
tax assets
|
8933
|
4,82
|
9397
|
5,46
|
0
|
0,00
|
105,
19
|
5,
19
|
0,00
|
-100,00
|
0,00
|
-100,00
|
|
Other
noncurrent assets
|
134
|
0,07
|
9
|
0,01
|
19
|
0,01
|
6,72
|
-93,28
|
211,11
|
111,11
|
14,18
|
-85,82
|
|
Total
non-current assets
|
164585
|
100
|
170110
|
100
|
293909
|
100
|
92,96
|
-7,04
|
175,45
|
75,45
|
163,10
|
63,10
|
, it is seen that fixed assets take the biggest
part of non-current assets and they increased each analyzed year in 2010 the
accession rate was 14,41% and 111,55% in 2011 compared to 2009, and 84,91% in
comparison 2011 and 2010; and it is a positive trend. Special attention should
be paid to the analysis of change in the proportion of long-term investments in
non-current assets. Since long-term investments involve diversion of funds from
circulation for a long time and involve, as a rule, with a significant risk,
the increase in their share of non-current assets is considered as a negative
phenomenon, indicating deterioration in the quality of non-current assets. It
is therefore advisable that the rate of increase of non-current assets (RInc)
ahead or at least was equal to the rate of increase of long-term investments
(RIlti). This ratio indicates that the proportion of long-term investments in
non-current assets is not increased and therefore their quality is not
degraded. In the analysis the amount of the long-term investments is constant,
so there were no changes. Similarly, a negative estimated increase in the share
of construction in progress in non-current assets, since it involves the
diversion of funds from the market, giving in this time no economic effect.
Because of this, it is desirable that the rate of increase of non-current
assets (RInc) ahead or at least was equal to the rate of increase of
construction in progress (RIcip). This ratio suggests that the share of
construction in progress in non-current assets is not increased and therefore
their quality is not degraded. The indicator work in progress was big in 2009
and took 11,17% of total amount of non-current assets but it decreased by
89,70% in 2010 and by 59,94% in 2011. But in 2011 it also increased by
288,98%.analysis of the volume of the composition, structure and dynamics of
the current assets of the commercial organization is made. In the analysis,
depending on the service sphere reproduction current assets are divided into
two groups:
. Current production assets: Inventories (raw
materials, supplies and similar items), work in progress, deferred expenses and
VAT on purchases.
. Circulating assets: Finished products and goods
for resale, goods shipped, receivables, short-term investments, cash and other
current assets. Analytical calculations are made in the form of Table 2.7.
2.7 Analysis of current assets of the DTEK
Zuevskaya TPP 2009-2011
|
Indicator
|
2009
|
2010
|
2011
|
Changes
|
|
thous.uaH
|
%
|
thous.uaH
|
%
|
thous.uaH
|
%
|
2010
to 2009
|
2011to
2010
|
2011
to 2009
|
|
|
|
|
|
|
|
rate
of increase,%
|
accession
rate,%
|
rate
of increase,%
|
accession
rate,%
|
rate
of increase,%
|
accession
rate,%
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
10
|
11
|
12
|
13
|
|
1.
Current production funds, including
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.1
productive reserves
|
4506
|
26,01
|
3431
|
15,78
|
4269
|
12,47
|
76,14
|
-23,86
|
124,42
|
24,42
|
94,74
|
-5,26
|
|
1.2
work in progress
|
0
|
0,00
|
0
|
0,00
|
0
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
|
1.3
Prepaid expenses
|
31
|
0,18
|
35
|
0,16
|
40
|
0,12
|
112,90
|
12,90
|
114,29
|
14,29
|
129,03
|
29,03
|
|
2.
Circulating assets, including
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2.1
Finished products and goods
|
0
|
0
|
0
|
0
|
0
|
0
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
|
2.2
Goods shipped
|
0
|
0
|
0
|
0
|
0
|
0
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
|
2.3
receivables
|
9453
|
54,57
|
5675
|
26,10
|
6736
|
19,68
|
60,03
|
-39,97
|
118,70
|
18,70
|
71,26
|
-28,74
|
|
2.4
Short-term investments
|
0
|
0
|
0
|
0
|
0
|
0
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
0,00
|
|
2.5
cash
|
455
|
2,63
|
10026
|
46,11
|
19838
|
57,95
|
2203,52
|
2103,52
|
197,87
|
97,87
|
4360,00
|
4260,00
|
|
2.6
Other current assets
|
2879
|
16,62
|
2578
|
11,86
|
3350
|
9,79
|
89,54
|
-10,46
|
129,95
|
29,95
|
116,36
|
16,36
|
|
3.
Total current assets
|
17324
|
100
|
21745
|
100
|
34233
|
100
|
125,52
|
25,52
|
157,43
|
57,43
|
197,60
|
general, as a rather negative phenomenon should
consider the growth of the size and proportion of work in progress, as it is an
indirect sign of irregularity production process. In analyzed case the amount
of work in progress is constant and equal to 0. Increase in the size and
proportion of accounts receivable also can not be evaluated positively, as an
increasing diversion of current assets turnover, although temporary, does not
contribute to the effectiveness of current activities of the commercial organization.
Receivables decreased in 2010 from 9453 thous.uaH to 5675 thous.uaH by 39,97%
and in 2011 by 28,74%., the next big step in analyzing of the industrial and
economic activity of the enterprise is the analysis of the enterprise
expenditures.costs are included in cost of goods (works, services) are grouped
according to the following elements: material costs, labor costs, contributions
to social activities, depreciation of fixed assets and intangible assets other
expenses.the excess of expenses over revenue for the company from its
operations generated losses that are reflected in the liabilities section of
the balance sheet and (in the negative sense). amount of loss of balance (and
previous reporting years) reduced total and section and currency balance as a
whole (reduced bag their own financial resources). Unprofitable activity of the
enterprise is incompatible with market conditions.
Table 2.8 Dynamic
analysis of costs of the DTEK Zuevskaya TPP for 2009-2011
|
Indexes
|
Years
|
Growth
(+), decrease (-), %
|
|
2009
|
2010
|
2011
|
2010
to 2009
|
2011
to 2010
|
2011
to 2009
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
|
Administrative
expenses
|
11949
|
12727
|
16049
|
+6,11
|
+20,70
|
+25,55
|
|
Distribution
expenses
|
0
|
0
|
0
|
0,00
|
0,00
|
0,00
|
|
Other
operating expenses
|
50551
|
62577
|
65679
|
+19,22
|
+4,72
|
+23,03
|
|
Other
expenses
|
168
|
113
|
7451
|
-48,67
|
+98,48
|
+97,75
|
the table it is seen that costs are characterized
by four indicators, namely administration expenses increased by 6,11% in 2010
compared to 2009 and by 25,55% in 2011. Distribution expenses were constant and
equal to 0. Other operating expenses increased in 2010 by 19,22%, and by 4,72%
in 2011 compared to 2010. Other expenses decreased in 2010 by 48,67%, but
dramatically increased in 2011 by 97,75%.the basis of profit and loss statement
it is needed to analyze of the enterprise operating costs. The following
results are provided in table.2.9.
Table 2.9 Analysis of the operating costs of the
DTEK Zuevskaya TPP for 2009-2011
|
Indexes
|
2009
|
2010
|
2011
|
Growth
(+), decrease (-), thous. hr. 2010 to 2009
|
Growth
(decrease) % 2010 to 2009
|
Growth
(+), decrease (-), thous. hr. 2011 to 2010
|
Growth
(decrease) % 2011 to 2010
|
|
thous.
hr.
|
%
|
thous.
hr.
|
%
|
thous.
hr.
|
%
|
|
|
|
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
|
|
|
|
|
1.
Material costs
|
8258
|
6,83
|
9871
|
6,94
|
10256
|
6,34
|
1613
|
+16,34
|
385
|
+3,75
|
|
2.
Labor
|
28702
|
23,75
|
35038
|
24,63
|
43217
|
26,72
|
6336
|
+18,08
|
8179
|
+18,93
|
|
3.
Deductions for social events
|
10805
|
8,94
|
11077
|
7,79
|
13142
|
8,13
|
272
|
+2,46
|
2065
|
+15,71
|
|
4.
Depreciation
|
14900
|
12,33
|
14742
|
10,36
|
17698
|
10,94
|
-158
|
-1,07
|
2956
|
+16,70
|
|
5.
Other operating expenses
|
58163
|
48,14
|
71540
|
50,29
|
77428
|
47,87
|
13377
|
+18,70
|
5888
|
+7,60
|
|
Total
|
120828
|
100,00
|
142268
|
100
|
161741
|
100,00
|
21440
|
+15,07
|
19473
|
+12,04
|
, the analysis shown that the biggest proportion
took other operating expenses for 48,14% for all operating expenses; and for
all analyzed period the amount of expenses do not change at all. Material costs
increased by 1613 thous.uaH in 2010 and by 385 thous.uaH in 2011. Labor costs
were remained almost without changes. Deductions for social events rose by
15,71% in 2011 compared to 2010. Depreciation decreased by 158 thous.uaH in
2010, that is 1,07% and it increased the amount by 2956 thous.uaH in 2011. For
the total operating expenses there were rise by 15,07% in 2010 and by 12,04% in
2011., further it should be considered the enterprises income formation. The
ability to use income as an indicator of efficiency is facilitated by the
features of the company arising from the uniqueness of its products, the
specific process and procedure planning costs. The value of income is that it
describes the financial performance of business.on the Form 1, Form 2 it could
be defined the changes that took place during this three years in the structure
of enterprise incomes. You can see it in Table.2.10.
2.10. Formation of the profit of Zuevskaya TPP on
2009-2011 years
|
Indexes
|
2009
year
|
2010
year
|
2011
year
|
Growth
(decrease) %
|
|
|
|
|
2010
to 2009
|
2011
to 2010
|
2011
to 2009
|
|
1
|
3
|
4
|
5
|
6
|
7
|
8
|
|
1.
Revenues from the sale of products, goods and services
|
572235
|
699459
|
861289
|
+18,
19
|
+18,79
|
+33,56
|
|
2.
Value added taxes
|
95372
|
116576
|
143548
|
+18,
19
|
+18,78
|
+33,56
|
|
3.net
profit
|
476863
|
582883
|
717741
|
+19,3
|
+18,69
|
+34,38
|
|
4.
Costs of goods sold
|
(423389)
|
(524653)
|
(645246)
|
+37,53
|
+56,45
|
+72,79
|
|
5.
Other operating income
|
53929
|
86330
|
198243
|
+25,7
|
+46,61
|
+60,33
|
|
6.
Income before taxes
|
107403
|
144560
|
270738
|
+18,
19
|
+18,792
|
+33,56
|
from sales of products (works, services) include
the amount of the realized sales price in the period of production, goods and
services, production and sale of which is subject to all the activities of the
company in accordance with its constituent documents. It increased in 2010 by
18, 19% and by 33,56% in 2011 compared to 2009, due to the fact that the amount
of production increased too. The indicator of value added taxes also increased
during compared period, in 2011 by 33,56% to 2009. In general, all indicators
increased, but the hugest deviation was in the costs of goods sold, in 2011
they rose by 72,79%.Table 2.11 describes the financial performance of
enterprise indicators, defines the quantitative factors influence on the net
income change of net income.
Table 2.11. Analysis of the formation of net
profit of Zuevskaya TPP on 2009-2011 years
|
Indexes
|
2009
|
2010
|
2011
|
Growth
(+), decrease (-), thous. hr. 2011 to 2009
|
Growth
(decrease),% 2011 to 2009
|
|
thous.uaH.
|
thous.uaH.
|
thous.uaH.
|
|
|
|
1
|
3
|
4
|
5
|
6
|
7
|
|
1.
Gross income
|
107403
|
144560
|
270738
|
163335
|
+60,33
|
|
2.
Costs of treatment
|
(62500)
|
(75304)
|
(81728)
|
19228
|
+23,53
|
|
3.
Financial results from operating activities profit/ Loss
|
44903
|
69256
|
189010
|
144107
|
+76,24
|
|
4.
Other income
|
3378
|
897
|
8790
|
5412
|
+61,57
|
|
5.
Other expenses
|
(16363)
|
(9678)
|
(49962)
|
-33599
|
+67,25
|
|
6.
Financial results from ordinary activities before tax profit (+) / loss (-)
|
31918
|
60175
|
147838
|
115920
|
+78,41
|
|
7.
Income tax
|
(11990)
|
(17605)
|
(25114)
|
-13124
|
+52,26
|
|
8.net
profit (+) /loss (-)
|
19928
|
42570
|
122724
|
102796
|
+83,76
|
analysis of table will allow investigating a
dynamics and structure of income. During research of income dynamics inflation
factors of change should be taken into consideration. So, the gross income of
the enterprise rose by 163335 thous.uaH, or by 60,33% in 2011 compared by 2009.
Financial results from operating activities made profit, and increased in 2011
by 76,24% or by 144107 thous.uaH. Other income increased, but other expenses
decreased in 2010 from 16363 thous.uaH to 9678 thous UAH, but in 2011 by
67,25%. So, the net profit made up 122724 thous.uaH in 2011, that is less by
83,76% in 2009., the next step of the analysis is the analysis of the financial
results of the enterprise. The main economic results of financial and economic
activity of Zuevskaya TPP are the amount of electricity produced and sold,
gross income, profit.main source of information is the income statement (form №
2), which displays information about the formation of the net income (loss),
items of operating expenses.this stage of the analysis it should be given an
overall assessment of the results that is change of its dynamics for 2009-2011
years. Then it is determined absolute and relative deviation, causes of these
variations, determined the impact of these factors on the deviation.,
horizontal analysis of key indicators of the "Income Statement"
(Table 2.3) shows that almost all indicators of financial performance: gross,
operating profit before tax and after tax have a positive absolute and relative
deviation., throughout the all analyzed period there was a loss only in
indicators of other financial activity of the enterprise, namely other
financial income (which consist of revenues from the operating exchange rate
difference and percent charged to bank) decreased by 2875 thous.uaH in 2010
y.compared to 2009 y., but increased sharply in 2011 by 6931 thous.uaH. Other
income also decreased in 2010 by 6 thous.uaH compared to 2009, and increased by
1362 thous.uaH in 2011 copared to 2010. Other cost (consist of liquidation of
fixed assets and construction in progress objects, write-off fixed assets,
other expenses) decreased by 55 thous.uaH in 2010 y.compared to 2009, but
increased by 7338 thous.uaH in 2011. The growth of other financial income and
cost in 2011 to great extent occurred due to the discounting of long-term debt
(treaty of debt of Zuevskaya TPP).the results of 2011 the company received net
profit in the amount of 122724.0 thous.uaH, as compared with a profit of 2010
in the amount of 42569.9 thous.uaH an absolute increase in profit was 80154.1
thous.uaH. Thus, on the enterprise it takes place profitability of the
production. The analysis of the results of activities of the enterprise in the
range of kinds of services it was found that according to the analysis of the
main indicators of activity of Zuevskaya TPP: from basic licensing activities
received: 2011 - earnings in the amount 71397.2 thous.uaH, by 2010 - profit in
the amount 57474.1 thous.uaH - from licensing activities of other income were
as follows: 2011 - in the amount 1098.3 thous.uaH, in 2010 - in the amount of
755.5 thous.uaH.next step of the analysis is the effectiveness of the use of
the fixed assets of the enterprise.first step is the structure of the fixed
assets of the enterprise.
2.12. The structure of the fixed assets of the
Zuevskaya TPP in 2009-2011
|
Groups
of fixed assets
|
2009
|
%
|
2010
|
%
|
2011
|
%
|
|
Buildings,
structures and transmission devices
|
525023
|
83,001
|
538290
|
80,949
|
635625
|
78,218
|
|
Machinery
and equipment
|
95732
|
15,134
|
114023
|
17,147
|
161765
|
19,906
|
|
Vehicles
|
8929
|
1,4116
|
9495
|
1,428
|
11095
|
1,365
|
|
Tools,
instruments, equipment (furniture)
|
1917
|
0,303
|
1987
|
0,299
|
2396
|
0,295
|
|
Low
value non-current assets
|
932
|
0,147
|
1174
|
0,176
|
1526
|
0,188
|
|
Other
non-current assets
|
17
|
0,003
|
0
|
0
|
0
|
0
|
|
Total
|
632550
|
100
|
664974
|
100
|
812624
|
100
|
, it seen from the table that the main part of
the fixed assets are buildings, structures which poses approximately 80 % of
the total amount of fixed assets.evaluation and analysis of the indexes of
efficiency of fixed assets usage and reproduction are presented in Table 2.13.
Table 2.13. Efficiency indicators of fixed assets
usage and reproduction of Zuevskaya TPP on 2009-2011 years
|
Indexes
|
2009
year
|
2010
year
|
2011
year
|
Increase
rate (+), decrease rate (-), %
|
|
|
|
|
2010
to 2009
|
2011
to 2010
|
2011
to 2009
|
|
1
|
3
|
4
|
5
|
6
|
7
|
8
|
|
Efficiency
indicators
|
|
1.
Capital productivity
|
0,73
|
0,89
|
0,97
|
+17,97
|
+8,25
|
+24,74
|
|
2.
Capital intensity
|
1,37
|
1,12
|
1,03
|
-22,32
|
-8,74
|
-33,01
|
|
3.
Capital equipment of labour
|
8536
|
9851
|
+0.76
|
+13,35
|
+14,01
|
|
4.
Deterioration rate
|
0,79
|
0,79
|
0,77
|
0
|
+76,06
|
+76,06
|
|
5.
Level of profitability of fixed assets, %
|
0,03
|
0,07
|
0,17
|
+57,14
|
+58,82
|
+82,35
|
|
Reproduction
indexes
|
|
6.
Renewal rate of fixed assets
|
0,01
|
0,05
|
0,04
|
+80
|
-25
|
+75
|
|
7.
Coefficient of leaving of fixed assets
|
0,07
|
0,002
|
0,001
|
-3400
|
-100
|
-6900
|
|
8.
Rate of growth of fixed assets
|
-0,06
|
0,05
|
0,01
|
+20
|
+400
|
+500
|
most important indicator of the analysis of the
efficiency of the use of fixed assets is the capital productivity. This
indicator is used to characterize the dynamics of the efficiency of fixed
assets of the enterprise, as well as a comparative evaluation of the
effectiveness of fixed assets for enterprises in the same industry [2]. Capital
productivity is calculated by the formula:
(2.1)
all period this indicator was increased
and it a positive trend; in 2011 it increased by 24,74% compared to 2009; it is
due to modernization of the equipment and reconstruction of them.intensity is
an inverse indicator of capital productivity.equipment of labour shows how and
to what extent the company is fitted by labor resources by average value of
fixed assets; is calculated by the formula:
(2.2)
rose by 14,01% in 2011, and by 0.76% in
2010.rate of the fixed assets shows to what extent the fixed assets are
amortized, so in which measure their possible future replacement is financed on
the measure of wear:
(2.3)
profitability of fixed assets it is
understand the index of efficiency of the use of fixed assets of enterprise,
that settles accounts as a relation of profit from basic productive and
unproductive activity of enterprise to the average annual cost of capital
productive assets, by a formula:
(2.4)
rate of fixed assets. It shows what part
from present on the end of period covered of the fixed assets is presented by
the new fixed assets:
(2.5)
of leaving of fixed assets shows size of
capital assets, that left from the rotation of money of enterprise to the
general amount of capital assets on this enterprise:
(2.6)
of growth of fixed assets shows the degree
of increase of the fixed assets in a period covered against a past period.
(2.7)
, according to this part of the analysis
we see that there are only positive trends.analysis of the financial and
economic activity of Zuevskaya TPP needs the identification of the following
indexes of the financial conditions of the enterprise, which are given in Table
2.15.
Table 2.14. The dynamic of the financial
situation of Zuevskaya TPP on 2009-2011 years
|
Indexes
|
Year
|
Deviation
(+, - )
|
|
2009
|
2010
|
2011
|
2011
to 2009
|
|
1
|
2
|
3
|
4
|
5
|
|
1.
Return on asset, %
|
10,98
|
23,26
|
64,
19
|
53,21
|
|
2.
Return on equity, %
|
20,53
|
36,25
|
76,43
|
55,90
|
|
3.
Working fund to total resources ratio
|
0,03
|
0,02
|
0,02
|
-0,01
|
|
4.
Mobility assets rate
|
0,14
|
0,11
|
0,14
|
0,00
|
|
5.
Absolute liquidity ratio
|
0.002
|
0.01
|
0.33
|
0,33
|
|
6.
Quick ratio
|
0.46
|
0.61
|
0.69
|
0,23
|
|
7.
Current ratio
|
0,88
|
2,39
|
5,18
|
4,30
|
, ROA increased in 2011 and 2010; ROE also
increased by 55,9%. Working fund to total resources ratio was equal to 0,03 and
decreased in 2010 and 2011 to 0,02. Mobility assets ratio shows the share of
the assets of the enterprise take current assets. The coefficient must be
greater than 0.5. On the enterprise it was 0,14. Absolute liquidity ratio is
the most stringent criterion of liquidity of the company. The coefficient
should be between 0.2 - 0.35. According to company index at the end of 2009, it
took the value 0.002 and in 2010 - 0,01. This means that the company had the
risk of failure to meet its immediate obligations. But in 2011 it increased to
0,33. The quick ratio is the ratio of current assets to current liabilities of
the company and shows the adequacy of resources of the enterprise, which can be
used to pay off its current liabilities. For normal operation of the business,
this value must be greater than 2. It was 0,46 in 2009 and 0,69 in 2011, but it
did not meet the normative value. Current ration means profit attributable to a
currency working capital; and it means that in 2009 for 1 money units of
working capital led to 0,88 of profit, and in 2011 - 5,18 of profit.next step
is the analysis of the enterprise financial stability, financial independence,
and analysis of business activity.of solvency (financial stability) of the
company is carried out by calculating the following parameters (coefficients):
solvency ratio (autonomy), the coefficient of funding ratios of working capital
mobility rate and equity, see. table.2.15.
Table 2.15. Calculation of solvency (financial
stability) of the Zuevskaya TPP on 2009-2011 years
|
Indexes
|
Normative
value
|
Year
|
Deviation
(+, - )
|
|
|
2009
|
2010
|
2011
|
2011
to 2009
|
|
Solvency
ratio (autonomy)
|
>0,5
|
0,53
|
0,64
|
0,83
|
+6,14
|
|
Coefficient
of funding
|
<1,
decreasing
|
0,87
|
0,56
|
1,93
|
+54,92
|
|
Ratio
of own working stocks
|
>0,1
|
-0,95
|
-1,75
|
-0,29
|
-227,59
|
|
Mobility
rate on equity
|
>0,
increasing
|
-0,22
|
-0,27
|
-0,04
|
-450,00
|
|
Financial
independence
|
Approaching1
|
1,87
|
1,56
|
1,2
|
-55,83
|
, the coefficient of the solvency or autonomy was
in the normative range more that 0,5 and in 2011 increased by 6,14% to 2009.
The coefficient of funding should be less than 1, it was in 2009 and 2010, but
in 2011 it increased to 1,93. Ratio of own working stocks was negative during
all analyzed years. Mobility rate on equity also was negative and it decreased
in 2011 to - 0,04. The indicator of financial independence is the reverse to
the coefficient of the concentration factor equity. The growth dynamics of this
index means an increase in the proportion of borrowed funds to finance the
enterprise. If its value is close to unity (or 100%), it means that the owners
of fully funding your business, if greater than one - on the contrary. For
example, if the value of this ratio in 2009 was 1.87, this means that every
1.87 UAH, invested in assets, 87 kopecks were borrowed somewhere. But in 2010
and 2011 it decreased and it was a positive signal; in 2011 for 1,2 UAH only 20
kopecks were borrowed.it should be analyzed the business activity of the
enterprise. Business activity of the company in the financial aspect is
manifested primarily in the rate of turnover of its funds. Analysis of business
activity is to study the dynamics of various levels and turnover ratio. Analysis
of business activity allow us to analyze the efficiency of the core activities
of the company, which is characterized by speed of financial resources.
Analysis of business activity allows us to analyze the efficiency of the core
activities of the company, which is characterized by speed of financial
resources. The analysis is carried out using turnover ratio shown in Table
2.17. According to the table will find a number of parameters that characterize
the rate of turnover, inventory, accounts receivable, accounts payable,
inventory, fixed assets and equity. Based on the obtained parameters calculate
maturities of receivables and payable, which will give us an idea of the level of financial discipline in the target
company.the Table 2.16 it is presented indicators which characterize the
business activity of the company.
Table 2.16. The analysis of the business activity
of the DTEK Zuevskaya TPP 2009-2011
|
Indicators
|
2009
|
2010
|
2011
|
Deviation
(+, - ),% 2011 to 2009
|
|
Asset
turnover ratio
|
2,62
|
3,12
|
2,22
|
-18,02
|
|
Turnover
ratio of current assets
|
23,64
|
28,11
|
16,97
|
-39,30
|
|
Turnover
ratio of receivables
|
38,91
|
68,53
|
100,65
|
+61,34
|
|
Turnover
ratio of accounts payable
|
0
|
0
|
0
|
0,00
|
|
Turnover
ratio of inventories
|
83,54
|
129,36
|
209,
19
|
+60,07
|
|
Turnover
ratio of fixed assets
|
0,73
|
0,89
|
0,97
|
+24,74
|
|
Turnover
ratio of equity capital
|
4,46
|
4,22
|
2,61
|
-70,88
|
turnover ratio - reflects the turnover rate of
the total capital of the company, that shows how many times during the analyzed
period is the full cycle of production and circulation, bringing a
corresponding effect in the form of profits, or how many currency units of
sales brought each unit of assets. In 2011 it decreased by 18,02%. Turnover
ratio of current assets describes the ratio of revenue (gross revenue) from
sales, excluding value added tax and excise tax to total current assets of the
company. The decrease in this ratio indicates a slowing of turnover of working
capital. In the enterprise it was decrease in the value of this coefficient, it
fall by 39,30% in 2011 compared to 2009. Turnover ratio of receivables shows
how many times a year turned the funds invested in the calculations. Typically,
the higher the score of this ratio is the better, because the company receives
payment for most accounts. On the other hand, the provision of commercial
credit to customers is one of the tools of sales promotion, it is important to
find the optimal length of the crediting period. Turnover ratio of accounts
payable was equal to 0 during all analyzed period. Turnover ratio of
inventories reflects the number of turns of inventory the company for the
period. In general, the higher the inventory turnover, the less money tied to
this least liquid article of current assets, the more liquid current assets
structure and also more stable financial situation of the company. It rose each
analyzed year and in 2011 it was increased by 60,07% compared to 2009. Turnover
ratio of fixed assets shows the efficiency of the fixed assets of the company.
It is high at enterprise and each year grow, in 2010 it was 0,89 and in 2011 -
0,97. Turnover ratio of equity is calculated as the ratio of the net proceeds
from the sale of goods (works, services) to the average value of equity of the
enterprise and describes the efficiency of equity capital of the company. It
decreased in 2011 compared to 2009 from 4,46 to 2,61 that is a negative trend.
2.3
Analysis of production and social infrastructure of the DTEK Zuevskaya TPP for
the 2009-2011 years
of the enterprise is a complex of shops,
facilities and services of companies that provide the necessary conditions for
the operation of the business as a whole. Infrastructure - a kind of "rear
production" as a precondition for proper operation. There are industrial
and social infrastructures.(DTEK) is the youngest of Ukrainian stations and one
of the most efficient in the industry. The station ranked third among 14
Ukrainian TPPs for production and supply of electricity on the domestic energy
market. For all the time the plant produced 156.7 billion kWh of electricity.
Installed capacity of thermal power plants is1245 MW. Currently in the three
power units, one more modernized. Among the secrets to success experts called
effective leadership and management, professional staff, as well as a
large-scale modernization of facilities in accordance with the highest European
standards. All this makes the station a modern and cost-effective, and hence
demand.objects collected in two large structures - LLC "Sotsis " and
" Sotsugol ' branch ' Pavlogradugol." These businesses are designed
to increase the profitability and social divisions of the quality of services
provided. Social infrastructure of DTEK is represented caterer, a sanatorium,
sports complexes, camps, recreation centers and hotels. This area is designed
to provide employees of the enterprises of DTEK civilized working conditions,
recreation and medical services., and in particular Zuyevskaya TPP, cooperates
in the field of social partnership with city Zugres. Zuyevskaya TPP is the main
enterprise, the development of the station depends on the fate of the city.
Program of corporate social responsibility DTEK direct city in 2012 3.1 million
UAH. From 2007 to 2011 has been allocated 4.2 million UAH. For example, in
2011, DTEK provided repair Zugres multyprofiles Lyceum (the company sent 283
thousand UAH. For restoration of the hall and an outdoor playground, sports
equipment and the acquisition of modern street simulators), construction of
playgrounds, etc. Such objects are not only important for a particular school;
they change with one's lifestyle for all citizens.April 2011 Zuevskaya TPP
pilot project "Control System occupational health", organized by
"Vostokenergo" (DTEK). The entire staff of the power plant, which is
1656 people, received medical insurance. ZuTES with optimism and confidence
thinks about the future. No doubt about the fact that for many years the
station will be an industry leader, technology and modernity provide her demand
in the energy market, and residents Zugres expect significant social and
community improvement.
Conclusion
Power industry plays an important role in the
development of the state. This is a key strategic industry that contributes to
sustainable socio-economic development of a diversified economy, the rise of
the welfare and quality of life of citizens. The powerful energy is
contributing to the international status of the country and the formation of
its foreign policy potential.the practical training it was familiarized with
the work of the LLCZuevskaya thermal power station, with its history of
creation, specialization and organization of the company. In 1982 it was put
into operation under the name "ZuGRES-2" (Zuyevskaya state district
power station), then the station was renamed ZuTES. From the moment of its
commissioning to 2011 ZuTES is the youngest thermal power station in Ukraine
and one of the most efficient in the industry. It included in the company and
is a part of DTEK "Vostokenergo". DTEK Zuevskaya TPP is the company
which main economic activity is the production and sale of the electricity.
After analyzing of the financial and economic activities of the enterprise we
can see that DTEK Zuevskaya TPP has stable financial condition, and it was
profitable during analyzed period. The analysis of the dynamics of labor
potential showed that output of the Zuevskaya TPP increased in 2010 compared to
2009, and in 2011 to 2009 by 33,5 %. The average number of employees decreased
each analyzed year, but labor productivity increased. The personnel of the
company is an integral part of the success of the company. DTEK pay a lot of
attention to the social development of the cities where there is companies of
DTEK. By the results of 2011 the company received net profit in the amount of
122724.0 thous.uaH. as compared with a profit of 2010 in the amount of 42569.9
thous.uaH an absolute increase in profit was 80154.1 thous.uaH. Thus, on the
enterprise it takes place profitability of the production. The indicators of
the efficiency of the use of fixed assets also had positive trends. Indicators
of ROA and ROE grew dramatically in 2011 compared to 2009: by 53,21 % and by
55,9 % respectively., during my industrial practice it was learned more about
the station of the native city, saw the work process itself, practiced my
knowledge about my major - economics in practice. The economic analysis showed
that DTEK Zuevskaya TPP is a profitable and can fully equip city with
electricity.
List
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