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An Analysis of the Probability of Bankruptcy of PJSC «Zaporizhzhiaoblenergo»
Cherep A. V., Chekhovska V. S.

Cherep, Alla V., and Chekhovska, Valeriia S. (2024) “An Analysis of the Probability of Bankruptcy of PJSC «Zaporizhzhiaoblenergo».” Business Inform 10:735–735.
https://doi.org/10.32983/2222-4459-2024-10-735-735

Section: Economics of Enterprise

Article is written in Ukrainian
Downloads/views: 0

UDC 005.52:005.334]:[338.45:621.31(477.64]

Abstract:
PJSC «Zaporizhzhiaoblenergo» is one of the four largest energy distribution companies in Ukraine. The purpose of the distribution system operator in question is to ensure reliable and uninterrupted provision of electricity distribution services in the territory of Zaporizhzhia region, which is the main activity of the enterprise. The aim of the present study is to conduct a financial analysis, due to the need to assess the financial condition of the enterprise, its business activities in order to timely identify and eliminate violations in the activities of the economic entity, which will further help to increase solvency and identify the main factors influencing the state of the enterprise, along with predicting the main trends and assessing the market value of the enterprise as a whole. The analysis of the probability of bankruptcy of PJSC «Zaporizhzhiaoblenergo» was carried out using multifactorial models, such as: Altman five-factor model, four-factor model by R. Tafler, Lis model, Springate model, and Tereshchenko universal discriminant model. The assessment of business activity was carried out using profitability indicators. According to the results of the analysis, it is found that the enterprise PJSC «Zaporizhzhiaoblenergo» in the analyzed 2020-2023 is not threatened with bankruptcy under most models. Most profitability indicators in 2022 had negative values, since the company had a loss on the results of activities at the end of the year. The analysis of the liquidity of the enterprise indicates lack of current assets and monetary means to cover the current liabilities of the enterprise. The main factors influencing the financial condition of the enterprise, which are caused by the full-scale invasion of Ukraine by the russian federation at the beginning of 2022, have been identified. Recommendations for improving financial performance indicators are developed, based on the works to reduce receivables and payables at the enterprise. The presented results of the analysis can be used in the future to form the financial strategy of the enterprise.

Keywords: bankruptcy, Altman five-factor model, four-factor model by R. Tafler, Lis model, Springate model, Tereshchenko universal discriminant model, profitability.

Tabl.: 4. Formulae: 5. Bibl.: 8.

Cherep Alla V. – Doctor of Sciences (Economics), Professor, Head of the Department, Department of Finance, Banking, Insurance and Stock Market, Zaporizhzhia National University (66 Zhukovskoho Str., Zaporіzhzhia, 69600, Ukraine)
Email: [email protected]
Chekhovska Valeriia S. – Student, Zaporizhzhia National University (66 Zhukovskoho Str., Zaporіzhzhia, 69600, Ukraine)
Email: [email protected]

List of references in article

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