C h u ; e n muc: Tai cbinh - Ngan hang - TAP CHJ KINH TE & QUAN TRJ KINH DOANH SO 11 [20V)l
PHAN TiCH HOAT DONG TAI CHINH TAI CONG TY CO PHAN TRAPHACO KHUYEN NGHI VA GIAI PHAP
NguySn Thi Thanh Thuy Tom tat
Cong ly CO phdn Traphaco Id doanh nghiep ddn ddu trong ngdnh dirac Viet Nam hiin nay Unh vwc san xudt kmh doanh chinh cua cong ry Id duoc phdm. hda chdt vd vdt tu, thiit bi y ti Phdn tich tinh him tai chinh thong qua cdc chi tieu tren bdo cdo tdi chinh dong vai tro rdt quan trong trong viee cung cap eac thong rin kinh ti tdi chinh phuc vu cho viee dieu hdnh, qudn ly ciia chii doanh nghiep vd ho tra ra quye dmh cho cdc ddi tuang khde eo ben quan. Bdi bdo ndy di tir phdn tich khdi qudt tinh hinh tdi chinh cua Traphaco din phdn tich cdc ehi neu cu thi trong cdc bdo cdo tdi chinh. tir dd di xudt mot so gidi phdp Idl chinh nhdm ndng eao hiiu qua kmh doanh cho doanh nghiep.
Tit khoa Bdo cdo tdi chinh, chi neu, lai nhuan. tinh hinh tdi chinh. Traphaco FINANCIAL ANALYSIS AT TRAPHACO JOINT STOCK COMPANY
- RECOMMENDATIONS AND SOLUTIONS Abstract
Today, Traphaco Joint .Stock Company is the leading enterpnse In Vietnam's pharmaceutical industry The company's mam production and business fields are pharmaceuticals, chemicals, supplies and medical equipment Financial analysis through the indicators on the financial statements plays an important role m providing financial mformanon for the operation and management of enterpnse owners and supporting the stakeholders's decision makmg process This paper analyses the financial statements of Traphaco m general and the financial indicators m particular. Then, it suggests some solutions to Improve the efficiency of the corporation
Keywords: Financial .statements, targets, profits, financial situation. Traphaco JEL elassifiealion: G; G3
l . D a t v a n d e
Phan tich tai chinh la tdng tiia cac phuang phap duoc su dung dl danh gia linh hinh tai chinh qua khu va hien tai. giiip cho nha quan ly dua ra duoc qu;et dinh quan 1; chuan xac va danh gia duoc cac boat ddng san xuat kinh doanh cua doanh nghiep, gnip cho nhirng ddi tirong quan lam dua ra nhung du doan chinh xac ve mat tai chinh eua doanh nghiep, tir do c6 eac quyat dmh phii hop vdi lgi ich cua minh [2J
Cung nhu cac doanh nghiep ed phan khac.
Traphaco cd rk nhiau ddi tuang quan tam den tinh hinh tai chinh cua cdng I;- nhu cac nha dau tu. cho V av, ngudi lao dong. nha cung cap. khach hang, doi thii canh tranh. co quan tiiue, kiem loan. MOI doi tugng lai quan lam theo gdc dd va vdi muc tieu khac nliau Viae phan tich bao cao lai cbinh lir khai quat dan chi tiet cd tha giiip cho cac doi tuong su dung thdng tin tai chinh eua doanh nghiep dat dugc muc lieu dat ra 2. Phirong phap nghien ciiu
2.1. Phuang phdp thu thap vd tong liffp so Ueu Bai Viet su dung so lieu thii cap thdng qua cac bao cao lai chinh cua Cdng K co phan Traphaco giai doan 2016-2018 Tren co sa dd
tae gia long hop eac thdng tin can thiet phuc vu qua tnnh nghien ciiu
2.2. Phuong phdp xu ly vdphdn tich so lieu Tu cac so heu tai chinh ciia Traphaco da thu thap va tdng hgp duge giai doan 2016 - 2018. tac gia ap dung eac phuang phap so sanh va phuong phap phan tich bao cao tin chinh thong qua eac nhdm chi ticu tai chinh bao gdm' nhdm chi tiau va kha nang thanh loan, nhdm ehi lieu vc ddn bay tai chinh, nhdm chi lieu ve kha nang boat ddng, nhdm chi tiau ve kha nang smh Idi de danh gia chi tiet tinh hinh tai chinh ciia doanh nghiep
3. Ket qua va thao luan
3.1. Khdi qudt tinh hinh tdi chinh cua Traphaco trong giai doan 2016 - 2018
Cdng tv CO phan Traphaco la mdt doanh nghiep Idn san xuat kinh doanh duoc pham. hda chat va vai lu, ihict hi v le Tinh hinh tai cbinh cua cdng tv duoc phan anh kha rd net qua cac ehi tiau trong eac bao cao tai chinh quan trong (Bang can ddi ka loan v a Bao cao kat qua kinh doanh).
Chuyen myc: Tai chinh - Ngan hang - TAP CHI KINH 16 & QUAN TRI KlhSH DOA^M SO 11 (2019) Bang I. Trich Bdng cdn ddi
Chi tieu
I, Tong tai san A. Tai san ngan han Tien, tucmg dircmg tien
Cac khoan dau tu TC ngan han Cac khoan phai thu ngan han Hang ton kho B, Tai san dai han Tai san co dinli Tai san do dang dai han
0au tu' tai chinh dai han
II, T6ng nguon v6n A, Nff phai ti'a
1 No ngan han 2 No dai han B, Von chii sff hijii
ki; todn cua Traphaco
Nam 2016 So tien 1.377.454 841.551 204 507 10 600 291 661 305 364 535.902 245 196 264 028 4 807
362 691 354.737 7,954 1014 763
(%)
100 61,1 14.8 0.8 21,2 22.2 38,9 17.8 19,2 0,3
26,3 25,8 0,6 73,7
1 giai doan 2016-201S (Bvt:
Nam 2017 So tien 1 509 702
745.856 160 904 8 600 200.063 332.831 763.846 685.451 25 249 500
390 854 380 753 10.101 1 118.848
(%)
100 49,4 10,7 0,6 13,3 22,0 50,6 45,4 1,7 0,0
25,9 25,2 0,7 74,1
Nam 2018 So tien 1.589.862
859.394 316.134 9.400 153573 337.523 730.468 656.016 13 862 500
482 648 312.184 170 463 I 107.214
(%)
100 54.1 19.9 0,6 9,7 21,2 45,9 41,3 0,9 0,0
30,4 19,6 10,7 69,6
Tneu dong) Nam 2017/
2016
(%)
9,6 (11,4) (21,3) (18,9) (31,4) 9,0 42,5 179.6 (90.4) (89,6)
7,8 7,3 27,0 10,3
Nam 2018/
2017
(%)
5,3 15.2 96,5 9.3 (23.2)
14 (4.4) (4,3) (45,1) 0,0
23,5 (18,0) 1587,6
(1,0) Nguon
Danh gia so bo chiing ta cd the thay linh hinh tai chinh cua Traphaco trong giai doan 2016 - 2018 CO nhieu bicn dong Bang 1 cho thay
Nam 2017 tinh hinh tai chinh cua Traphaco cd nhiau bien ddng nhat Tdng tiu san tang 9.6%
so vdi nam 2016. Trong dd. Tai san ngan ban giam 11.4% Tian va cac khoan tuang duong tian giam dang ke 21.3%. Cae khoan dau lu tai chinh ngan han giam 18.9%. Cac khoan phai thu ngan han giam nhieu 31,4%. Hang ton kho tang kha eao 9% do dac thii cua nganh duoc. Tai san dai han tang 42.5%. trong dd Tai san cd dinh tang 179.6% do nam 2017 Traphaco dau tu nhiau mav mdc thiet bi hien dai cho san xuat va che bien duoc pham. tai san da dang dai ban giam 90.4%
va Dau tu tai chinh dai han giam 89.6% Nguyen nhan la nam 2016 Traphaco su dung kha nhieu tien vao cac khoan dau tu tai chinh dai ban va \ay dung CO ban. Nam 2017 cdng tv khdng can phai dau tu nhicu vao cac khoan nav nua. Ve ngudn von, chiing ta cd the thay hau bet cac cbi lieu deu lang. No phai tra lang 7.8%. trong dd No ngan han tang 7,3% cdn No dai han tang den 27%
Vdn chu sd hiJu tang 10,3%
Bdo cdo tdi chinh ciia Traphaco giai dogn 2016-2018 [IJ Nam 2018 kha nhiau chi tiau lang so vdi nam 2017, Tong tin san tang 5,3% Tai san ngan ban lang 15.2%, trong do tang cao nhat la Tian va cac khoan tuong duang lien lang den 96.5%
Neu nhu nam 2017 cac khoan dau tu tai chinh ngan han giam 18,9% so vdi nam 2016 thi nam 2018 chi lieu nay tang 9,3% so vdi nam 2017 Cac chi tieu Phai thu ngan han giam 23.2 va Hang tdn kho tang nhe 1.4%; Chiing ta cd tha tha; cae khoan phai thu cua Traphaco deu giam trong giai doan nay do Traphaco ap dung nhicu chinh sach thiic day tiau thu va day manli cac bien phap thu ng. Tai san dai han giam 4.4% so vdi nam 2017, trong do Tai san cd dmh giam 4.3%: cac chi tiau tai san dai han khac nhu Tai san da dang dai han giam dang ka 45,1% va Dau tu tai chinh dai han khdng thay ddi Ve ngudn von. No phai tra tang 25,5% so vdi nam 2017.
trong dd Ng ngan han giam 18% trong khi No dai han tang rat manh 1587.6% do nam 2018 Traphaco lang cudng va;- dai ban de dau tu phat man san xuat kmh doanh Rieng Vdn chu sa hiiu giam nhe 1% so vdi nam 2017.
Chuyen muc: Tai chinh - Ngan hang - TAF CHI KINH TF, & QUAN 1 I<TIVIW1I UUAI Xet va CO cau tai san, la cd tha tha;
Traphaco ed t; trong klia hap 1; Nau nhu nam 2016" Tai san ngan han chiem 61,1% tdng tai san con Tai san dai han ehiem tv- trgng 38,9% tdng tai san. Nam 2017 va 2018 Traphaco da dieu chinh de T ^ san iigan han va dai han kha can bang Xet v e co cau nguon vdn. ta thSy Trong giai doan nay No phai tra ehiem I; trgng nho
^"fi 2: Trich Bdo cdo kel qua kmh doanh cua Traphaco giai dogn 2016 - 2018 (D\'t TriiujSng) Nam Nam 2017/2016 2018/2017 dudi 31% tdng ngudn vdn va ed xu huong tang dan nhung van kha thap. Vdn chu so hiiu ludn chiem tv trong rat Idn Iran 69% tdng ngudn v-6n cua Traphaco va giam nhe qua cac nam. Hien nay, Vdn chu so hiju chiem t;- trong Iran 69% la niem ma udc cua rat nhiau doanh nghiap the hicn tinh tu chu v-a ddc lap v c lai chinh eua Traphaco.
Chi tieu Nam
2016 Nam 2017 2018
(%) (%)
Doanli thu BH&CCDV 2 005,540 Cac khoan giam trir doanh thu 7 206 Doanh thu thuan I 998 334 Gia vdn hang ban 1,003 653 Lop nhuan gdp 994 681 Doanh thu hoat ddng tin chinh 15,387 Chi phi tai chinh 82.652 Trong do ehi phi Idi vay 898 Chi phi ban hang 464.181 Chi phi quan ly doanh nghiep 182 076
Loi nhuan thuan tir boat ddnii KD
Tdng lgi nhuan ke loan trudc thue
Loi nhuan sau thue TNDN 228,226 281231 283 179
1,880 139 1 808 372 -6.25 -3,82 9.697 10 022 34.57 3.35 1.870.442 I 798,350 -6.40 -3,85 829 784 863 659 -17.32 4.08 1 040 658 934 691 4.62 -10.18
3 619 2.482 -76.48 -31,42 2 891 12.354 -96.50 327.33 2.583 12,204 187,64 372,47 503 536 485.529 8,48 -3.58 214 061 222 452 17.57 3,92 323.663 216 838 15.09 -33,01 322 649 216 210 13.94 260417 174 773 14,10 -32,8 Nguon
Dua vao bang 2. ta cd the phan tich cae chi tiau phan anh kcl qua hoat dgng kinh doanh ciia Traphaco trong giai doan 2016-2018 nhu sau
Nam 2017 so vdi nam 2016. doanh thu ban hang & CCDV giam 6.25%. doanh thu thuan giam 6,4%, Doanh thu boat ddng tai chinh nam 2017 giam 76.48% so vdi nam 2016 do dau tu tai chinh khong hieu qua Con cac khoan giam trir doanh Ihu nam 2017 tbi lang den 34,57% do doanh nghiep sii dung cac giai phap nhu giam gia, chiat khau thuang mai Nam 2018 chi nau nay ehi tang 3,35% so vdi 2017 Chi phi ban hang nam 2017 tang 8,48% so vdi nam 2016 do eac chinh sach thuc day lieu thu nhu cac chuang trinh quang cao, xiic tian ban hang Chi tiau chi phi tai chinh ciing giam dang ke (96,5%) vao nam 2017 nhung nam 2018 chi phi lai chinh tang 327.33% so vdi nam 2017. Tuy nhien chi phi lai va; nam 2017 va 2018 lai tang kha cao Nam 2017 tang 187.64% so vdi nam 2016; nam 2018 lang 372.47% so vdi nam 2017 Chi phi lai vay lang cao do nam 2017 va 2018 doanh nghiep lang cudng va; tien ngan hang de mo rong thi trudng tieu thu san pham va phai Irian cac kliu V'-udn trdng cav ngu\an heu
Bdo cdo Idl chinh cua Traphaco giai doan 20I6-20I8 [Ij Nam 2017 hau hat eac chi sd lai nhuan deu tang kha cao eho thay su nd luc rat Idn cua Traphaco: loi nhuan gdp tang 4,62%. lgi nhuan thuan tir hoat ddng kinh doanh tang 15,09%, lgi nhuan trudc thue tang 13,94% va lgi nhuan sau thue tang 14,1% so vdi nam 2016 Nguyen nhan la do nam 2017 Traphaco phat tnen tham nhieu san pham mdi. dap irng tdt nhu eau cua khach hang va ap dung hieu qua cac chinh sach thiic day tieu thu nhu quang cao. xiic tien thuang mai, mo rong thi trudng. Cac chi tiau doanh diu va lai nhuan giam nhicu va giam manh nhat vao nam 2018. Mdt phan la do tren thi trudng cd kha nhieu duac pham va thuc phSm chire nang ciia ddi thu canh tranh da dang va mau ma, thu hiit ngudi_ticu diing bang binh thiic quang eao kha hap dan. mdt ph5n do tam 1; kha nhieu ngudi tiau dung cd thien hudng thich dung hang ngoai nhu cae thuc pham chirc nang va tiiuoc chu'a benh eua cac nude Nhat Ban. Mv. Han Qudc.
Dire. Phap,.
3.2. Phdn tich chi tiit tinh hinh tdi chinh thdng qua cdc nhdm chi tieu tdi chinh
De ed tha nhin nhan dugc mdt each chi tiSt va ro net nh5t vh tinh hinh tai chinh eua Traphaco, chiing ta eiing phan tich cae nhdm ebi
Uhuycnliiu^Tai cninh - Ngan hang - TAF CHI KINH TE & QUAN TRI KINH DOANI I SO 11 (2019) tieu tai chinh quan trong: nhdm chi tiau va kha loan lai vay cua Traphaco co nhieu hien ddng va nang thanh loan, nhdm chi tieu ve ddn bay tin cd xu hirdng giam manh. Chi sd kha nang thanh chinh, nhdm chi lieu ve kha nang boat dgng. loan no dai han Idn lugt la- 67,38 (nam 2016) len nhom chi tieu ve kha nang sinh Idi 75.62 {nam 2017) va giam xuong cdn 4,29 (nam Qua phan tich nhdm chi tieu ve kha nang 2018) do nam 2018 no dai ban tang dot bien thanh toan (bang 3). chiing la thay duoc eac ha sd trong khi tai san dai han giam dang ka so vdi nam kha nang thanh loan cua Traphaco deu cao. tuang 2017. Chi tiau kha nang thanh toan lai vay lan doi dn dinh va hSu het Idn hem 1. Cu tha la kha lugt la: 316,34 (nam 2016): 125,91 (nam 2017) nang thanh loan hien hanh cua Traphaco nam va nam 2018 giam cdn 1,72. Chi liau nav cd bien 2016 bang 3,8 ha; 1 ddng ng phai tra dugc dam ddng Idn nhu va; la do nam 2018 Traphaco va;
bao bang 3.8 ddng lai san. Kha nang thanli toan no nhiau trong khi chi lieu long loi nhuan ke toan hicn hanh cae nam 2017, 2018 lan luot la 3,86 v-a trudc thue lai giam manh (32,99% so vdi nam 3,29 van rat eao. Chi tiet chiing ta tha; kha nang 2017) cdn chi phi lai vay lang cao (372.47% so thanh toan no ngSn ban, ng dai han va lai v ay deu vdi nam 2017) Mac dii cac chi tieu kha nang cao cho thay kha nang thanh toan ciia Traphaco thanh loan no dai ban va kha nang thanh toan lai rat tdt Chi duy nhat cd chi tieu he sd kha nang va; cua Traphaco cd nhiau bien ddng va giam thanh loan nhanh nam 2017 ciia Traphaco la nhd manh nhimg v-an dam bao trong ngudng an toan hon 0,5 Chi so kha nang thanh loan nhanh cua Nhu vay, giai doan 2016-2018 Traphaco cd cae nam 2016, 2017 va 2018 lan luot la 0,61: kha nang thanh toan tuong ddi tdt vdi da sd cae 0,45 va 1,04 Chi tieu nay cd gia tn trong khoang ha sd va kha nang thanh loan dau dam bao d lir 0,5 den 1 la tot nhat Trong giai doan nay, kha nguang an loan, chi co kha nang thanh loan nang thanh loan no dai ban va kha nang thanh nhanh nam 2017 la chua dam bao
Bdng 3 Cac nhom chi tieu tdi chinh cua Traphaco giai dogn 2016 - 2018 CHI TIEU BVT Nam 2016 Nam 2017 Nam 2018 - Tong tai san binh quan
- TSLD binh quan - TSCD binh quan - Von chu set huu binh quan - Hang ton kho binh quan - Khoan phai thu binh quan Nhom chi tieu v^ khli ndng thanh todn
1, He so kha nang thanh toan hien hanh 2. He so thanh toan no ngan han 3 He so kha nang thanh toan nhanh 4 He so thanh toan no dai han 5. He so kha nang thanh toan lai va\'
Chi tieu vi don bdy tiii chinh 1 He so ng
2 He so tu tai tro 3 He so dau tu vao TSLD 4 He so dau tu vao TSCD
Chi lieu ve hha nang hotil ditng 1. Vong quay hang ton kho 2. So ngay ton kho 3. Vong quay khoan phai thu 4. Ky thu tien binh quan 5. V6ngqua\ TSLD 6. Vong quay TSCD 7 Vong quay tong tai san
Chi tieu ve kha nang sinh li/i 1. Suit sinh loi cua TS (ROA) 2. Suat sinh loi cua VCSH (ROE) 3 Ty suat LN rong tren DTT (ROS)
Trd Trd Trd Tr.d T r d T r d
Vong Ngay Vong Ngay Vong Vong Vong
% %
%
1336 989 903.704 240.255 990 810 308.926 294 620 3,80 2,37 0,61 67,38 316.34 0,26 0.74 0,61 0.39 6,47 56 6.78
53 2,21 8,32 1.49 17.07 23.03 11.42
I 443 578 793 704 465 324 1.066.806 319 098 245 862 3,86 1,96 0,45 75,62 125,91 0,26 0,74 0,49 0,51 5.86 61 7,61 47 2.36 4.02 1.30 18,04 24,41 13,92
1.549 782 802 625 670,734 1 113.031
335 177 176.818 3,29 2,75 1,04 4,29 18,72 0,30 0,70 0,54 0,46 5.37 67 10.17
35 2.24 2.68 1.16 11,28 15,70 9,72
Chu; en muc: Tai chinh - Ngan bang - TAP CHI KINH TE &
Xgudn: Bdo cdo tdi chinh ciia Phan tich nhdm chi lieu ve ddn bay lai chinh (bang 3) eho thay He sd ng eiia Traphaco nam 2016 la 0,26 cd y nghia la 1 ddng gia In lai san duoc lai tro bang 0,26 ddng ng He so nay lan lugt la 0.26 va 0,3 vao eac nam 2017, 2018 Chi tieu nay eho la thay: giai doan 2016-2018, Ng phai tra ludn chiam ly trong dudi 30% long ngudn vdn. He sd tir lai trg ciia Traphaco nam 2016 la 0,74 c6 y nghia la 1 dong gia In lai san dugc lai tio bang 0,74 ddng vdn chu sd hihi hay trong 1 ddng nguon von eua Traphaco eo 0,74 ddng la vdn chii sd hiru cdn 0,26 ddng la ng phai tra, Irong khi eac nam 2017, 2018 he so nay lan luat cd gia tii la 0,74, 0,7 He sd nay rat hgp ly va an toan, von chu sd hiru chiam tran 70% long ngudn vdn. He so nay Iha hian kha nang lu chu, miic do ddc lap ve mJil tai chinh cua Traphaco.
Nhu vay, vdi cau true von ciia Traphaco trong giai doan nay la No phai tra dudi 30% va Von chu sd hihi tien 70%, Traphaco da tha hian duoc mice do su dung ddn bay lai chinh rat lot, dem lai hieu qua kinh doanh tuang ddi cao.
He sd dau lu vao lai san luu ddng Iran 49%
edn be sd dau lu vao lai san eo dmh tren 39%.
Nhu vay, giai doan 2016 - 2018 Traphaco dau tu nhieu hon tai san luu ddng. Traphaco cd su dau tu it hon vao tin san cd dmh vi kha nang thanh khoan ciia nhiing lai san nay thap, von dau tu nhieu cdn tai san luu dgng cd kha nang thanh khoan cao ban, vdn dau tu It ban Hon niia, Irong nen kinh te thj trudng khdng nen dau tu qua nhiau vao lai san cd dinh ma cd tha di thua de giam bdt chi phi
Phan tich nhom chi lieu ve kha nang hoat dong (bang 3) cho thay. Vdng quay hang ton kho Irong giai doan 2016-2018 kha eao Cac nam 2016, 2017, 2018 c6 vdng quay hang tdn kho lan lugt la 6,47: 5,86, 5,37 vong/nam, Chinh vi vay ma sd ngay tdn kho cua cung kha thap dudi 70 ngay Vdng quay cac khoan phai thu trong giai doan nay giao ddng trong khoang tir 6,78 den 10,17 vdng/nam la kha cao va cd xu hudng tang dan lam cho ky thu tian binh quan kha ngan va cd xu hudng giam dan lir 53 ngay xudng 35 ngay Nguyen nhan la do dac thii cua doanh nghiap la san xuat kinh doanh duoc pham nen thudng khdng du trii nhiau hang ton kho (han sii dung ngan) va thu hdi no nhanh (thanh toan ngay la chu yeu).
Vdng quay lai san ed djnh Idn han 2,5 eho thay hieu qua sii dung lai san eo dinh rat tdt, tao duoc nhieu doanh thu. Cac vdng quay tdng tai san deu Idn han 1 va vdng quay tai san liru ddng deu Idn hon 2 ciing rat tdt. Cac vong quay lai san cua Traphaco deu cao cho tiiay hieu suat su dung
Traphaco giai doan 2016-2018 [1] vd linh todn cua ldc gia lai san eiia doanh nghiep lot Tuy nhian. trong giai doan nay cae vdng quay lai san dau cd xu hudng giam do doanh tiiu giam.
Phan tich nhdm chi lieu vi kha nang kha nang smh Idi (bang 3) cho tiia;' Suat sinli Idi cua lai san (ROA) dat gia in tren 11% cd nghia ja 100 dong tai san tao ra Iran U dong lgi nhuan rdng, Chi so nay cang eao chiing Id hieu qua sii dung lai san lot Suat sinh Idi ciia vdn chii sd huu (ROE) trong gial doan nay dat ti;en 15% la rat cao the hian hieu qua sir dung vdn chu sd huu tot, diau nay co nghia la 100 d6ng von chii sd huu tao ra Iran 15 dong lgi nhuan rong Suat sinh Idi Iran doanh thu diuan (ROS) giai doan nay dSu dat gia tn tren 9,7% cho IhSy Irong 100 dong doanh tiiu tiiuan tiiu duoc thi cd tren 9,7 ddng loi nhuan rong Chi tiau nay tuong doi cao chiing Id hiau qua sir dung chi phi ciia doanh nghiep kha lot Tuy vay, chung ta van cd nhan lh6 tiiay nam 2018 cac ty suat smh Idi giam do loi nhuan giam.
Nhu vay, tiong giai doan 2016 - 2018 tat ea cae chi tieu sinh Idi ciia Traphaco deu cao cho thay hieu qua san xuat kmh doanh ciia cdng ly kha tdt, thu dugc nhiau lgi nhuan, hieu qua sir dung tai san, von chii sd hiJu va chi phi deu kha tdt. Nhung neu xet nang nam 2018, cac chi tiau doanh thu va lgi nhuan cua Traphaco deu giam Dieu nay chimg td nam 2018, hiau qua san xuat kinh doanh cua cdng ty khdng lot nhu cac nam 2016, 2017 Trong thdi gian tdi, doanli nghiep can eo giai phap nhain nang cao doanh thu va lgi nhuan.
4. Ket luan va cac khuyen nghi Dua vao ket qua phan tich lai cbinh d tren, chiing ta ed tha thay rang tinh blnh tai chinh cua Traphaco la kha lot Tuy nhian, mudn nang cao bleu qua san xuat kinh doanh trong tuang lai, Traphaco can ap dung mdt sd giai phap nhu.
Moi la, Huy dgng them ngudn vdn chd sd hOu bdng edch phdt hdnh eo phiiu. Vdi loi the la mdt doanh nghiep ed phan Idn va cd uy tin tren Ihl trudng Viat Nam, Traphaco khdng khd khan trong viae buy ddng them vdn eo phSn thong qua phat hanh cd phieu Viec huy dgng von co phan lam gia lang ngudn vdn ehii sd huu Khi nguon vdn chu sd hiju du Idn gdp phan nang cao miie do ddc lap va lu chu ve lai chinh ciia Tong cong ty Dieu do cung giiip Tong cdng ly giam bdt ganh nang vay vdn ngan hang va han che nil ro tai chinh Qua phan tich cho th^y Suat smh Idl von chii sd hiru (ROE) cua Traphaco ril cao chirng Id hieu qua sir dung vdn ehii sd hiiu la rat lot, chi sd nay eao rat hap din cac nha dau lu VI vay, viec huy ddng tham ngudn von chu so hiiu
Chuyen muc: Tai chinh - Ngan bang - TAP CHI KINH TE & QUAN TRI KINH DOANH SO II (2019) bang each phat hanh cd phieu la mdt lua chon
diing dan va kha thi doi vdi Traphaco Vdn chu sd huu cang Idn hiia hen mang lai cang nhieu lai nhuan cho doanh nghiap
Hai la, Md rong thi trudng tieu thu: La mdt doanh nghiep hang dau trong linh vuc san xuat kinh doanh duoc pham va thiat bi y ta tai Viel Nam, Traphaco nan phat huy ban niia the manh cua minh da md rdng thi trudng sang nhieu nude Iran the gidi va cac tinh thanh trong ca nude Viee md rgng mang ludi hoat dgng khang dinh duac dang cap, uy tin va siic manh cua cdng ty
Ba Id, Phdt tnen them cdc sdn phdm mdi Hian nay, ddi sdng cua ngudi dan ngay mdt nang cao nan nhu cau sii dung cae san pham bao va siic khde cd xu hudng tang cao Cae san pham duoc ngudi dan quan lam nhicu bien nay la cac loai thudc chiia benh va cac thuc pham chiic nang cd chat luong lot, Traphaco ed nguon nguyen lieu san cd va cd tha tan dung ngudn nguyan lieu rat da dang va phong phii tai thi trudng ngi dia Viat Nam. Nhu vay, cdng t; cd the tiet kiem chi phi va nang cao loi nhuan Tir dd phat tnan quy md san xuat kinh doanh, nang cao uy tin va vi the canh tranh cua cdng I;' tren thi trudng.
Bdn Id, Tdng quy mo sdn xudt vd gidm mot s6 loai ehi phi Nam 2018 doanh Ihu va lai nhuan cua doanh nghiep deu giam so vdi nam 2016, 2017. De tang duac doanh thu. doanh nghiep can tang san lugng tiau thu vi tang gia ban la rat kho trong Ihi tnrdng canh tranh khdc
het Trong ihdl gian idi, doanh nghiep nen lang quy md san xuat de dua nhieu san pham han niia ra thi trudng lieu thu kel hop vdi cac chian dich quang ba san pham tren cae phuong tien truy6n thdng nham thiic dav- lieu thu Ngoai ra. can cd cac giai phap giam mdt sd loai chi phi san xuat kinh doanh da nang cao lgi nhuan nhu. Tinh gian bg may quan ly va hanh chinh nham giam chi phi quan ly doanh nghiep: sii dung toi da cdng suat ma; mdc va day chu;en san xuat nham nang cao nang suat lao dgng giup doanh nghiep vira tiel kiem chi phi nhan cdng vii'a tang khdi lugng san pham, dung vdn cd phan huy ddng duac thay cho vdn vay dai han da giam bdt chi phi lai vay.
Phan lieh tinh hinh tai chinh doanh nghiep la giai phap hang dau giiip cho nha quan 1; va cac ddi lugng khac cd duac nhirng thdng tin chinh xac nhat va linh hinh tai chinh cua doanh nghiep Thdng qua viae phan lich bao cao tai chinh cua Cdng t; cd phan Traphaco tir khai quat dan chi tiet cho chiing ta thay Cdng ty cd tinh hinh lai chinh luong ddi lot vdi da sd cac chi liau lai cbinh deu dam bao Tuy nhian, Traphaco muon cd kat qua hoat ddng san xuat kinh doanh cao hon niia Irong thdi gian Idi, cdng tv can ap dung them mdt so gial phap hieu qua nhu- Huy ddng tham vdn chii sd hiiu bang each phat hanh cd phicu. Md rdng thj trudng tiau thu. Phat Inen them cac san pham mdi. Tang quy md san xuat va giam mot sd loai ehi phi.
TAI LIEU THAM KHAO
[1]. Bdo cdo tdi chinh eua Traphaco cdc ndm 2016, 2017, 2018. Truy cap ngay 15/11/2019, http 7/vvvvw .traphaco .com .vn
[2] Ngd The Chi, Nguv-en Trgng Co (2008) Gido trinh Phdn tich idi chinh doanh nghiip Ha Ngi, Nha xuat ban Tai chinh.
[3], Nguyen Trgng Co, Nghiam Thj Ha (2009) Phdn tich idi chinh doanh nghiep. Ha Noi: Nha xuat ban Tai chinh,
[4] Nguyen Nang Phiic. (2011) Gicio i rinh Phdn lich bdo cdo idi chinh doanh nghiep HaNdi: Nha xuat ban Dai bgc Kinh tc Qudc dan.
Thdng tin tac gia:
Nguyen Thi Thanh Thuy Ngdy nhan bai 12/12/2019 - Dan VI cong lac Khoa HTTT Kinh te - Tnrdng DH Cong nghe Ngay iihanbansua 29/12/2019 Thong tm va Tmy^n thong Thai Nguyen Ngay duyet dang .i I /12/2019 - Dia chi email thanhthuyktcnll(d.gmail.com
