The analysis of profitability of agricultural enterprises in Vojvodina [Serbia] (2003-2007) | Analiza rentabilnosti poljoprivrednih preduzeca Vojvodine [Srbija] (2003-2007)
2009
Vukoje, V., Poljoprivredni fakultet, Novi Sad (Serbia) | Milic, D., Poljoprivredni fakultet, Novi Sad (Serbia)
The paper gives a comparative analysis of main indicators of agricultural enterprises financial result and financial position in the Vojvodina Province (Republic of Serbia), over the five-year period (2003-2007). Cumulative balances have been used as basic data sources. The agricultural enterprises performance results compared with those in food industry companies. Over the period observed, there were between 1.330 (2003) and 1.677 (2007) agricultural enterprises operating in the Province of Vojvodina. In the same period, the number of the employed has reduced from 41.128 to 28.863 (reduction about 30%). The analysis of financial results shows that agricultural enterprises (in total) realized negative net financial result during the three first years. The rates of income on the gross invested capital are also very modest (-3.29-4.62%). The financial standing is characterized by extremely unfavourable financial balance, and its consequence is deep non-liquidity inside agricultural companies. The companies are missing about 29.8 billion dinars of long-term available resources only for the establishment of financial balance. The agricultural company net capital value has been enlarged for about 26% and the real value of net capital has been decrease for 27.2 index points.
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