ECONOMIC OF MINING
Original Paper
UDC 338.45.97 © D.Yu. Savon, A.E. Safronov, N.O. Vikhrova, G.V., Kruzhkova, M.S. Goncharov, 2022
ISSN 0041-5790 (Print) • ISSN 2412-8333 (Online) • Ugol’ – Russian Coal Journal, 2022, № 11, pp. 62-68
DOI: http://dx.doi.org/10.18796/0041-5790-2022-11-62-68
Title
IMPACT OF THE CRISIS ON THE FINANCIAL PERFORMANCE OF THE COAL INDUSTRY
Authors
Savon D.Yu.1, Safronov A.E.2, Vikhrova N.O.1, Kruzhkova G.V.1, Goncharov M.S.1
1National University of Science and Technology "MISIS" (NUST “MISIS”), Moscow, 119049, Russian Federation
2FGBOU VO "Don State Technical University", Rostov-on-Don, 344010, Russian Federation
Authors information
Savon D.Yu., Doctor of Economic Sciences, Professor of the Department of Industrial Management, e-mail: di199@yandex.ru
Safronov A.E., Doctor of Economic Sciences, Professor of the Department of Management and Business Technologies, е-mail: reception@dstu.edu.ru
Vikhrova N.O., PhD (Economic), Associate Professor of the Department of Economics, e-mail: natalia.vichrova@yandex.ru
Kruzhkova G.V.,PhD (Economic), Associate Professor of the Department of Engineering Cybernetics, e-mail: g.kruzhkova@misis.ru
Goncharov M.S., postgraduate student, e-mail: GovMaxim@outlook.com
Abstract
The aim of the work is to develop measures to support the coal industry during non-systemic crises, one of which was the 2020–2021 crisis caused by the COVID-19 pandemic. The object of the study is the Russian coal industry as a set of enterprises engaged in the extraction and enrichment of coal. The subject of the study is the impact of the crisis on the financial result of the industry. The paper identifies and systematizes the factors of the crisis and analyzes its impact on the financial result of the industry and individual groups of enterprises. Groups of enterprises were identified, the financial results of which deteriorated the most. Based on the results of the analysis, a cash flow management scheme was proposed, aimed at minimizing the negative impact of the crisis on operating, financial and investment activities.
Keywords
Russian coal industry, COVID-19 pandemic, Crisis factors, Financial result, Cash flows
References
1. Petrenko I.E. Russia's coal industry performance for January – December, 2021. Ugol, 2022, (3), pp. 9–23. (In Russ.). DOI: 10.18796/0041-5790-2022-3-9-23.
2. Rozhkov A.A. & Lozinskaya M.A. Assessment of strategic risks for the Russian coal industry. Collection of selected scientific articles and materials of the IV International Scientific and Practical Conference. Moscow, National Research Technological University «MISiS» Publ., 2022, pp. 86–96. (In Russ.).
3. Plakitkina L.S. & Plakitkin Yu.A. The Paris climate agreement, Covid-19 and hydrogen energy are the new realities of coal production and consumption in the EU and Asia until 2040. Gornaya promyshlennost', 2021, (1), pp. 83–90. (In Russ.).
4. Samarina V., Skufina T., Samarin A. & Ushakov D. Modern conditions and prospects of Russia’s coal mining industry development. Espacios, 2019, Vol. 40, (16), pр. 6.
5. Shinkevich A.I., Kudryavtseva S.S. & Ershova I.G. Modelling of energy efficiency factors of petrochemical industry. International Journal of Energy Economics and Policy, 2020, (10), рр. 465-470.
6. Malyshev Yu., Kovalchuk A. & Rozhkov A. Coal industry: search for landmarks in an era of change. Energeticheskaya politika, 2021, (2), pp. 18–29. (In Russ.).
7. Lyalin A.М., Zozulya A.V., Eremina T.N. & Zozulya P.V. Current trends in the development of the coal industry, taking into account the impact of the pandemic. Ugol, 2021, (5), pp. 62-65. (In Russ.). DOI: 10.18796/0041-5790-2021-5-62-65.
8. Novoselov S.V. Alternative approaches and controversial issues in the design of new mines generation level 2035. Ugol, 2019, (1), pp. 37-39. (In Russ.). DOI: 10.18796/0041-5790-2019-1-37-39.
9. Chernova O.A. Stress factors for the sustainable development of the Russian coal industry. Journal of Applied Economic Research, 2022, (1), pp. 49–78. (In Russ.).
10. Dagilis E.V. Impact of the coronavirus pandemic on Russian exports of thermal coal. Rossiiskii vneshneekonomicheskii vestnik, 2020, (9), pp. 106–114. (In Russ.).
11. Krasnyansky G.L. & Sarychev A.E. Impact of the COVID-19 pandemic on the global thermal coal market. Ekonomika i upravlenie: problemy, resheniya, 2020, (12), pp. 147–152. (In Russ.).
12. State information resource of accounting (financial) statements. The Federal Tax Service of Russia. Available at: https://bo.nalog.ru/ (accessed on 15.10.2022). (In Russ.).
13. Chursin M. & Ananich I. Coal: sunset or renaissance? Energeticheskaya politika, 2022, (3), pp. 4–13. (In Russ.).
14. Adriana-Mihaela Ionescu & Ramona-Alexandra Neghina. Management of Cash Flows during Covid-19. Journal of Eastern Europe Research in Business and Economics, 2021, (2021), Article ID 870762.
15. Hofmann E., Templar Simon, Rogers Dale, Choi Thomas Y., Leuschner Rudolf & Korde Rohan Y. Supply Chain Financing and Pandemic: Managing Cash Flows to Keep Firms and Their Value Networks Healthy (April 1, 2021). Rutgers Business Review, 2021, Vol. 6, (1), pp. 1–23. Available at: https://ssrn.com/abstract=3832036 (accessed 15.10.2022).
16. Laing T. The economic impact of the Coronavirus 2019 (Covid-2019): Implications for the mining industry. The extractive industries and society, 2020, Vol. 7, (2), рр. 580–582.
17. Parra P.Y., Hauenstein C. & Oei P.Y. The death valley of coal – Modeling COVID-19 recovery scenarios for steam coal markets. Applied Energy, 2021, (288).
18. Oei P.Y., Yanguas-Parra P.A. & Hauenstein C. COVID-19 - Final Straw or Deathblow for a Global Coal Industry at the Verge of Collapse, IAEE COVID-19 Special Issue 2020.
19. Campbell B. Corporate influence and the global pandemic – reflections from the mining sector. Revista Brasileira de Pol?tica Internacional [online], 2022, Vol. 65, (1). Available at: https://doi.org/10.1590/0034-7329202200101 (accessed 15.10.2022).
20. Kostyukhin Y.Y. Increasing labor productivity in the coal industry. Mining Journal, 2016, (10), рр. 41-44. (In Russ.).
For citation
Savon D.Yu., Safronov A.E., Vikhrova N.O., Kruzhkova G.V. & Goncharov M.S. Impact of the crisis on the financial performance of the coal industry.Ugol’, 2022, (11), pp. 62-68. (In Russ.). DOI: 10.18796/0041-5790-2022-11-62-68.
Paper info
Received August 2, 2022
Reviewed September 29, 2022
Accepted October 26, 2022
