Sytuacja finansowa spółek giełdowych z wybranych branż produkcyjnych
Financial situation of stock companies from selected branches of industry
Zeszyty Naukowe SGGW - Ekonomika i Organizacja Gospodarki Żywnościowej, 2009, vol., nr 76, s. 121-133
Abstract
The author analyzes financial condition of selected manufacturing branches in Poland on the example of stock companies quoted on Warsaw Stock Exchange. Among the branches under consideration are food, metal, machine-engineering and construction materials’ industries. Asset and capital-asset structure as well as liquidity and profitability ratios are analyzed. In 2003–2007 companies from all selected branches except of metal industry increased the value of fixed assets relating to current assets. The structure of current assets was gradually changed with more liquid assets such as receivables and cash in bank accounts. High ratios of liquidity together with a significant share of long-term capitals in liabilities structure indicated a more conservative approach to the liquidity risk. The highest and most variable rates of return were noticed in metal industry, food and machine-engineering branches were characterized by lower but constant profitability ratios in the whole period