Financial strategy for large coal producers
Relevance of the study. In the current context, there are quite negative trends in the coal industry: instability of the situation in the coal markets and increased competition, which creates risks of financial instability of enterprises. In these conditions, it is important to develop a financial strategy aimed at fulfilling promising production tasks.The purpose of the study is to substantiate the financial strategy of large coal producers.Research methods - scientific generalization, logical analysis, methods of comparison and analogies. Results of the study . The key points of the financial strategy have been identified: the goal of the effective development of a coal producer; time - long-term benchmarks; mechanisms - financing; directions - the implementation of financial activities; conditions - external and internal environment. The development of a financial strategy is based on a system of financial ratios used to form an acceptable structure of working capital. Calculation formulas are proposed to determine the required amount of cash, short-term financial investments, accounts receivable and the amount of stock in the composition of working capital. The quantitative values of these indicators that are acceptable from the point of view of the financial strategy have been determined: not less than 25%, not more than 25%, not more than 50%, respectively. The set of financial ratios for the formation of an acceptable ratio of own and borrowed funds, their calculation formulas and recommended values are recommended. The values of the coefficient K z/s of the ratio of borrowed and own funds, which determines the possibility of using borrowed funds, are given. In direct connection with Kz/s, the autonomy coefficient is considered and its reasonable values are justified.Conclusions. The specified conditions for the formation of a financial strategy are primarily related to large coalproducers, where there are opportunities for revenue growth and a reduction in the duration of the production cycle. The proposed acceptable values of financial ratios will make it possible to achieve sustainable financial independence of enterprises and ensure their effective development.