Working Capital

Сентябрь 11, 2022

Содержание

2. Управление оборотным капиталом Вы кому-то дали деньги в долг Вам надо оплатить ваши расходы Вам надо
3. Управление оборотным капиталом Собрать деньги, которые Вам должны Оплатить только те счета, по которым настал срок
4. Working Capital Presentation description and name Accounts Receivable Intercompany Receivables Inventories Accounts Payable Intercompany Payables Accrued
5. Working Capital overview Presentation description and name During last two years our WC was improved by
6. Working Capital -AR Presentation description and name We improved DSO MAA for 7 days for 2
7. Working Capital - Inventory Presentation description and name Inventory stock optimization process within 2010 High Sales
8. Working Capital - AP Presentation description and name AP improvement for $25 m for 2 years
9. Dividends Dividends for 2004-2006 Paid in 2007 Dividends for 2007-2008 Paid in 2009-2010 Dividends for 2009
10. Working Capital 2010 YE YE achievements: Low AR level is a result of DSO improvement working
11. WC – Accounts Receivables Presentation description and name Opportunity for AR improvement in 2011 – doable
12. WC - Accounts Payables Presentation description and name 2010 YE AP included: $2.29m invoices with due
13. WC - Accounts Payables Presentation description and name How we can improve AP level in 2011?
14. WC – Inventory Presentation description and name Inventory stock target for 2011 YE is $1.1m higher
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Слайд 2

Управление оборотным капиталом
Вы кому-то дали деньги в долг
Вам надо оплатить

ваши расходы

Вам надо купить еду

Что делать???

Слайд 3

Управление оборотным капиталом
Собрать деньги, которые Вам должны
Оплатить только те счета,

по которым настал срок оплаты

Купить только необходимую еду

Теми же принципами руководствуется Компания при управлении своим оборотным капиталом

Accounts Receivable

Accounts Payable

Inventories

Слайд 4

Working Capital
Presentation description and name
Accounts Receivable
Intercompany Receivables
Inventories
Accounts Payable
Intercompany Payables
Accrued Liabilities

(+)Accounts Receivable Domestic & Export
(-) Bad debt
(-) Sales Return provision
(-) Cash in transit
(+) Customer prepayments
receivables

(+) FG
(+) RM
(+)Semi-finished
(+) goods in transit
(+ -) Mfg.variances

(-) Accounts Payables Domestic & Foreign Suppliers
(-) Customer Prepayments

(-) All Accrued Expenses (non paid!!!)

Слайд 5

Working Capital overview
Presentation description and name
During last two years our WC

was improved by $31.4m:
$4.6m –AR
$ 1.1m –Inventory
$ 25.6 -AP

Слайд 6

Working Capital -AR
Presentation description and name
We improved DSO MAA for 7

days for 2 years
Graduate Credits were introduced (14 days within month)
additional 2% bonus for prepayment
85% of distributors work on prepayment base
Strong daily Credit Control and Overdue management
Stop list
Penalties

Слайд 7

Working Capital - Inventory
Presentation description and name
Inventory stock optimization process within

2010
High Sales Forecast Accuracy (90% by YE)
Factory shut down in December
Close of 2 DCs
Positive Mfg.Variances

Слайд 8

Working Capital - AP
Presentation description and name
AP improvement for $25 m

for 2 years
Global RM suppliers were moved to 60 days during 2009
Local RM and TE suppliers were moved to 60 days in 2009-2010
We decreased Prepayments level in 2009-2010
New approach to DPO improvement – by the end of 2010 invoices due 31/12/10 were paid only

Слайд 9

Dividends
Dividends for 2004-2006
Paid in 2007
Dividends for 2007-2008
Paid in 2009-2010
Dividends

for 2009

**$ 74.7 m

$47.1m paid in 2010;
$15.4 m paid in 2011

**$ 87 m

**$ 62.5 m

** mgmt rate 2011 (31.1042 rbl)

IC Loan was borrowed for dividends payment

IC Loan
$ 14.7 m was lent to WOF

Dividends for 2010

**$ 49.5 m

Paid in 2011

Слайд 10

Working Capital 2010 YE
YE achievements:
Low AR level is a result

of DSO improvement working plan successfully implemented during 2010 and strong Credit Control
Inventory stock optimization process within 2010, high Sales Forecast Accuracy (90% by YE),
Factory shut down, close of 2 DCs together with Positive Mfg.Variances resulted low FG and RM stock
AP improvement plan for YE , higher Trade Spend and Advertising accruals vs PY and
prepayments from Customers helped to significant AP growth in 2010

Слайд 11

WC – Accounts Receivables
Presentation description and name
Opportunity for AR improvement

in 2011 – doable
$0.9m – Export AR reduction
$0.6- Distributors AR decrease
$1.5 – NKA AR reduction (Tander and X5 move to prepayments)

Слайд 12

WC - Accounts Payables
Presentation description and name
2010 YE AP included:
$2.29m

invoices with due date 01/01-12/01/11 (RM and TE) – new approach to DPO improvement
$1.11m – prepayments from Customers
The amount of Customers prepayment is difficult to be forecasted

We a

AP YE 2010 is the most higher than were ever before

Слайд 13

WC - Accounts Payables
Presentation description and name
How we can

improve AP level in 2011?
To continue changing payment terms 0-20 days to 21-60 days
To move suppliers from prepayments to post-payment
Action plan for Finance and Procurement do be designed till the end of February

Слайд 14

WC – Inventory
Presentation description and name
Inventory stock target for 2011

YE is $1.1m higher vs 2010 YE
We need to continue stock optimization process and fix Factory shut down timing
in the mifdle of December

Working Capital

Содержание

Управление оборотным капиталомВы кому-то дали деньги в долг Вам надо оплатить

Управление оборотным капиталомСобрать деньги, которые Вам должны Оплатить только те счета,

Working CapitalPresentation description and nameAccounts ReceivableIntercompany ReceivablesInventoriesAccounts PayableIntercompany PayablesAccrued Liabilities

Working Capital overview Presentation description and nameDuring last two years our WC

Working Capital -AR Presentation description and nameWe improved DSO MAA for 7

Working Capital - InventoryPresentation description and nameInventory stock optimization process within

Working Capital - APPresentation description and nameAP improvement for $25 m

Dividends Dividends for 2004-2006 Paid in 2007Dividends for 2007-2008 Paid in 2009-2010Dividends

Working Capital 2010 YE YE achievements:Low AR level is a result

WC – Accounts ReceivablesPresentation description and nameOpportunity for AR improvement

WC - Accounts PayablesPresentation description and name2010 YE AP included:$2.29m

WC - Accounts Payables Presentation description and nameHow we can

WC – InventoryPresentation description and nameInventory stock target for 2011

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