I believe that the main financial strategy in a crisis is the presence of liquid assets in an organization, ideally money. Retail trade: how to improve financial performance (Poletaeva A.) Anna gracheva CFO

The forum, dedicated to the main trends in retail, brought together many interesting speakers who shared their experiences, and then, together with the rest of the participants, discussed the retail trends in 2014-2015. The conference was opened by Sergey Piven, Chief Financial Officer, Member of the Management Board of X5 Retail Group.
He spoke about the main trends in the development of the retail business in 2014-2015. "The Russian retail market is one of the largest in terms of volume in the world. The average annual growth of trade in the period from 2005 to 2013 amounted to 17 percent (nominal growth) per year (real growth - eight percent). In the medium term, growth will continue at the level seven to nine percent (nominal growth) per year (real growth - two to four percent). "
With regard to food retail, Sergei Piven gave a very encouraging forecast. In his opinion, the Russian food retail market will retain significant potential for growth until 2020. “Food retail is one of the main segments of the retail trade - it accounts for about 50 percent of the retail market. It will be the main driver of growth in the retail market as a whole. At the same time, due to the fact that the population of Russia is not growing, unlike other emerging markets, the main growth in food retail will be determined by an improvement in welfare and an increase in consumer spending, as well as the continuing development of the infrastructure of modern trade formats.
We expect nominal market growth of seven to eight percent per year, and real growth of three to four percent. Federal retail chains are developing most actively and will continue to develop; by 2020, their share will reach approximately 45-50 percent, compared with 25 percent in 2013. The main focus will remain on the Russian regions, since outside the Central and North-West regions, federal networks are less represented. The growth of retail space is observed in all formats of trade: convenience stores, supermarkets, hypermarkets. "
In conclusion of his speech, he gave some advice and recommendations to the audience: “In the retail business, every detail is important: unlike companies in other sectors, we operate with a low level of profitability. Therefore, for a business to bring profit to shareholders, it is necessary to exercise effective control over all business processes - from purchasing goods and delivering them to distribution centers, and then to stores, to laying them on shelves and serving customers. Human resources are no less important, because the overall result of the company depends on how and how efficiently each employee works. "

Oleg Ryzhov, CEO of ROSS Group, spoke about the main difficulties of interaction between retail and regional shopping and entertainment centers (SEC).
“Now the time has come when it’s difficult to make any forecasts regarding the state of regional markets of the shopping and entertainment center. and in the long run, it is still more uncertain here.
Due to political tensions in Europe and on the borders of the Russian Federation, access to credit and investment money has been sharply limited. The overwhelming majority of banks have sharply cut their lending to finance new commercial real estate projects. Already approved projects in general still continue to be funded, but in some cases funding is also suspended.
The main problems that are observed are a decrease in turnover and profitability of stores, an increase in competition between retail facilities in the regions and a decrease in consumer activity.
Many retailers have reduced their development programs or abandoned them altogether for the near future, while others, on the contrary, have changed their development plans towards expanding their presence in the regions. Nowadays, there is an increasing interest from retail in the regions beyond the Urals, since it is there that the gas branch will pass (through Altai, Irkutsk, etc.). Thus, Russian and later Chinese money will come there. It is especially favorable that the market of Siberia and the Far East is open to grocery chains. But still no one can predict exactly how events will develop in the future. "
Then the speaker moved on to the issues of renting retail space in the regions: "Due to the unpredictability of the market, shopping facilities are chosen more carefully and more demanding in terms of lease terms. More and more risks are shifting to the side of the owner, and not to the side of the tenant. That is, gradually - approximately from 2008 - the owner's market turns into a tenant's market (although the owner's market is still supported in Moscow and St. Petersburg).
Currently, both sides need to take steps towards each other, learn to respect each other's interests and find a compromise. Otherwise, everyone will lose. And it is precisely the search for ways to achieve such a compromise that represents the main difficulty in the interaction of retail with regional shopping and entertainment centers at the moment. "
Then he turned to the issues of traffic decline: “Many shopping centers are experiencing a decrease in traffic. It is very important to look at the cause. For example, it may be due to the fact that a new facility is opening nearby. The traffic level can also depend on the quality of the sellers' work. It is necessary all the time increase the flow of visitors. And if earlier it was possible to use standard approaches that still worked, now it is necessary to develop new non-standard solutions. But in general, a decrease in traffic is a temporary phenomenon, and sooner or later it will return to the right direction again. "
Then he spoke about what processes are currently taking place in the ROSS Group: “Now we are forced to focus not on opening new stores, but on keeping our market share. After all, when the opportunities for external development disappear, the company begins to improve itself. For example, for years we "hung" the need to improve internal management, which no one was involved in until the crisis broke out. Now, thanks to the crisis, we drew attention to this problem and began to solve it ".
Max Sazhin, Chief Financial Officer of HENDERSON-Russia, spoke about what retailers expect from banks and how to build mutually beneficial communication.
"Like any company, we strive to ensure financial equilibrium by balancing the volume of receipts and expenditures of funds. To this end, we develop measures to accelerate the attraction of funds and slow down their payments. Acceleration of raising funds in the short term can be achieved through the following instruments:
- increasing the size of price discounts for cash on products sold to customers;
- ensuring partial or full prepayment for manufactured products that are in high demand in the market;
- shortening the terms of granting a commodity (commercial) loan to buyers;
- use of modern forms of receivables refinancing (bills of exchange, factoring);
- acceleration of collection of payment documents of product buyers (time spent on the way, in the registration process, in the process of crediting money to the current account, etc.).
As for the slowdown in cash payments in the short term, it can be achieved when working with a supplier by increasing the terms of providing the company with a commodity (commercial) loan. "
Further, the speaker spoke about the main tools and products that the company uses, among which he allocated letters of credit, bank guarantees, factoring, leasing, etc. "Until 2010, we had attempts to use customs cards (then we resumed their use since 2012) They help to carry out payments on a day to day basis, enable overdraft and reduce the number of mechanical errors with details. We have also hedged currency risks since 2012. We have been carrying out automatic cash collection since January 2013. Thus, there are enough real tools on the market to optimize cash streams.

Working with banks is better built when the personalities of the owners and the history of the bank are taken into account. When working with banks, it is advisable to take into account the variability of products and low rates on them, a quick decision-making process, a decrease in the bank's commission for buying currency, a long term of the contract. But, unfortunately, you should not expect from just one bank, so you can use several banks in one capacity or another. "
In conclusion, he said a few words about the interaction of banks with shopping centers: “It should be noted that now is not the best time to open shopping centers, as the country is experiencing a decrease in consumer activity against the background of the fall in the national currency and most retailers are concerned about reducing costs or closing unprofitable stores, not new openings. Therefore, shopping centers (and they are built with the money of banks), which do not go to agree on acceptable conditions with tenants, will lose a lot. And this must be understood. "
Then a business game took place on the topic "Business risks associated with legislative changes and economic sanctions". The audience was offered a case-study based on the current political and economic situation, as well as on the problems facing the companies of the forum delegates.

Business game. The retail company "Food-market" sells products in a high price segment and is actively developing. 2012 - 2013 the number of stores in the chain doubled - from 90 to 180. The company's revenue in 2013 amounted to 70 billion rubles. The growth is carried out on borrowed funds, the debt burden is approaching 4 EBITDA.
In 2014, due to the complicated economic situation, the company's revenue in the first half of the year decreased by 10 percent, and the chain closed 20 stores with the worst indicators. The working capital deficit is estimated at 20 billion rubles. To top it all off, the company learns that there has been an embargo on the sale of a number of the company's key products, which accounted for 30 percent of its revenue. They can be replaced with counterparts that are not subject to sanctions, but negotiations with suppliers take some time. It is also necessary to take into account the possible introduction of a sales tax, which is now being discussed at the ministerial level, as well as the consequences of changes in the Trade Law. If you do not take prompt action, the network faces bankruptcy. In order to work out a solution in this situation, a board of directors is hastily convened, selected from the speakers present.
The conference participants offered their solutions on how to get out of this situation. Of the many proposals put forward, the most effective, in the opinion of the board of directors, were the following: revising the range of sales, reducing rent payments, reducing personnel costs (including reducing incentive payments to department heads), optimizing logistics and introducing new technologies (for example, establishing automatic cash registers, which allow you to do without the work of a cashier).

After the business game, Pavel Kalayev, head of the department for work with trade enterprises, spoke. His report was devoted to bank financing of current activities of retail investment tasks. He talked about how banks evaluate their customers.
In his opinion, the portrait of an ideal client includes a highly stable financial position, high financial autonomy, high profitability and low debt burden. “When we evaluate a client, we look at the positive dynamics of financial indicators - such as revenue, debt burden, equity, EBITDA, net profit. non-current assets.
Then we look at the companies in the target industry and the dynamics of business indicators: an increase in points of sale or the number of active buyers; expansion in geography / products / services. The growth rates of business indicators must be at least as high as market ones. The company to which we provide financing must have a highly stable competitive position (unique position in the market, work in the "blue ocean" strategy). A good example is Cirque du Soleil, which took the best of circus and theater and created a new space for itself without competition.
Limitations of cooperation for banks are: illiquid collateral, which makes it impossible to level the weak financial position; limited transparency, weak financial position or negative dynamics, negative external factors (imposed sanctions and embargoes and the likelihood of new ones) and industry risks (for example, trade in goods most susceptible to fluctuations in purchasing power). The legal structure and the structure of commodity-cash flows, which are difficult to analyze or to confirm, can become a very negative factor.
We cooperate on a partnership basis, so the most important thing for us is transparency, completeness of information and the client's desire to make contact. "
Anna Gracheva, head of the planning and economic department of Adamas, spoke about the identification of reserves for increasing the efficiency of working capital management.
She recommends paying more attention to the optimization of logistics: "It is very important to normalize the turnover time of warehouse stocks; to optimize the internal processes of goods movement and registration, if possible, to introduce electronic document flow; uniformity of loading of warehouses ".
Like all retailers, the company is concerned with increasing sales. Anna spoke about what steps are being taken for this: "All decisions on opening new stores are made on the basis of an assessment of the investment attractiveness of the object; then a regular assessment of the performance of outlets and retail stores is carried out; analysis of all factors influencing sales - from weather to mechanics calculating conversion ".
In "Adamas" seriously approached the issues of timing of implementation and assortment policy: "Terms of supply are considered in comparison with other available alternatives; the evaluation criterion is comparative efficiency; we are constantly working with the assortment matrix."

"Do not forget about staff motivation: for example, you can develop KPIs for managers at all levels that affect compliance with deadlines; motivate sales staff for the period of product turnover (by groups, types) and profitability of sales, etc."
According to Anna Gracheva, as a result of the work done, Adamas managed to reduce the turnover period of inventories by 10 percent in two years and free up about 100 million rubles. to other areas of activity.
“We used to think that one month is the deadline for the turnover for a finished goods warehouse. Today our figure is 0.89 months, including remote warehouses, including those outside of Russia, while maintaining the level of completing customer orders.
By increasing sales volumes, optimizing inventory and reducing turnover times by 12 percent, we have significantly increased business efficiency. Nevertheless, the company is constantly on the lookout for internal sources of efficiency. Target performance indicators for 2014 - 2015 - release of at least 10 percent of assets, "Anna Gracheva concluded her speech.
Denis Korablev, Financial Director of Rosinter Restaurants, spoke about how to ensure the quality of planning for current liquidity.
"To maintain liquidity, it is worth focusing on two points: interaction with banks and negotiations with suppliers. Interaction with banks will maximize the use of various financial mechanisms, including refinancing loans. It makes sense to discuss new payment terms with suppliers. It is likely that current importers will revise the conditions for working with foreign manufacturers. In this regard, it is very important that the company, which the suppliers provide with products, maintains comfortable conditions for cooperation. We must strive to synchronize cash flows under new contracts. "
Then he talked about what the CFO of a retail chain should focus on in 2014-2015. “It is worth paying attention to the changes related to the import of products, as well as exchange rate differences, and to take measures to control items related to these risks. At Rosinter we are now focusing on hedging potential risks associated with macroeconomic changes and on optimizing costs ...
Do not forget that the fourth quarter is ahead, which is traditionally considered successful for the entire retail. Therefore, despite the macroeconomic developments, focus on the positive. Think about how to get the most out of the high season. "
Roman Borisov, CFO of Inventive Retail Group, made a presentation "Business planning automation is a tool for increasing efficiency. An example is Inventive Retail Group".
"Before automation, we had a lot of manual labor and very laborious formation of indicators, the speed of information processing was not high enough. It was not possible to quickly collect the plan and fact and make decisions. All tools had to collect the plan and fact based on management accounting. Budget analytics did not allow to visually reveal the reserves of efficiency ".
The planning automation project was carried out on the basis of SAP BPC. Roman spoke about what he managed to do in the new budgeting system: “The data collection algorithm has become clearer, more reliable and more useful for business, less labor-intensive. control over the execution of articles in the context of their factors, and not the resulting indicator. "

Details 12/11/2014

Proposing a radical reform of newspaper kiosk retail in Moscow, the Moscow Department of Media and Advertising justifies its proposals by disagreeing with the practice of sublease adopted in Russia (as well as in all other developed markets), according to which chain owners transfer specific retail outlets to individual entrepreneurs, completely retaining functional for their provision.

According to the Moscow authorities, this practice should not remain on the Moscow press sales market. PlanetaSMI.RU discussed the existing mechanisms of organizing work in the press market, the industry economy, the problem of personnel and the danger of monopolization with Anna Gracheva, General Director of Logos-Finance.

Anna Konstantinovna, December 3 of this year at the City Industry Forum, the Moscow Department of Mass Media and Advertising presented to market participants its idea of ​​reforming the press sales system. It is assumed that the city will create a certain enterprise, which will transfer all the private kiosks existing in the capital. In general, there will be no business as such in this segment. At the same time, speaking about the reasons for such a decision, representatives of the city authorities, as the main argument, put forward the allegedly existing practice on the market of leasing retail facilities by chains to small entrepreneurs. And those rent payments are included in the final price for buyers. Is this information true?

Evgenia, you are describing everything in an exaggerated way. According to you, it turns out that there is some kind of intermediary on the market who is only engaged in winning city auctions for the right to trade, re-leasing outlets and subletting.

It's not me - it's the officials ...

However, such statements are not true. The intermediary, according to generally accepted world practice, assumes full responsibility for the functioning of the entire sales system, both in terms of organizing the trading process and in terms of compliance with applicable laws.

First, it deals with the supply, transportation, logistics and sorting of the entire flow of goods, which is then offered to customers directly at the kiosks.

Secondly, this "slacker" is engaged in the repair, maintenance, cleaning and painting of the entire "kiosk park". And this, as you know, is a considerable current cost.

If the city plans to transfer all the press kiosks to a state-owned enterprise, then it must be understood that this enterprise will not only deal with tenants, but also must take on all the above functionality: pull the maintenance of the kiosks, repair them, deal with electricity problems, organize deliveries of the entire product line, etc. And this requires considerable resources. Communication with all small counterparties implies a large number of contracts and documents for delivery, returns, repair work, etc. I'm not even talking about the "pitfalls", such as "disappearing" along with the goods "IP-eshniki".

You see how much (sighs). Therefore, it is fundamentally wrong to say that there is some kind of intermediary who only "lives on sublease" and does nothing else. It provides a huge number of services that the city is unlikely to cope with.

Why is it unlikely to cope? What prevents the city from creating its own enterprise, which will deal with services, electricity, supplies?

You are already talking about the creation of a monopoly on the press sales market, and this contradicts the antimonopoly legislation existing in the Russian Federation. According to the letter of the law, no one, including the city, has the right to do this.

No, of course, in our country there are examples of monopolies, but these are the so-called natural monopolies, for example, Russian Railways. In all other cases, I repeat, the artificial creation of a monopoly is against the law.

What's wrong with a monopoly on the press sales market?

The very presence of a monopoly in any market, not only in the press market, implies the destruction of free market relations, and hence market pricing. Free competition prevents overpricing. Here, on the contrary, the struggle is for the best conditions and low prices, since they attract the end buyer. As soon as a single service provider appears on the market, what kind of competitive relations and free pricing can we generally talk about?

I suppose that the issue raised today in the city of creating a single state-owned enterprise in the print sales market is just a matter of someone's private desire, because its very essence is fundamentally contrary to the law of the Russian Federation and the principles of free competition. The state should do its own thing, entrepreneurs should do theirs, and they should not be confused.

Nevertheless, the Moscow market already has some recent examples of such schemes being used by the city. "Vecherka" wrote that the city used a similar scheme to regulate the work of weekend fairs. They are now also run by a budgetary institution, and now there is order at the fairs, everything is functioning well, no one complains. At the same time, the state-owned enterprise, which manages the process, copes, and the townspeople are grateful for the high-quality Belarusian sausage at normal prices.

But here we need to figure out again what was done at these fairs before the reform, what the previous manager was doing, and what functions the government enterprise is currently performing. Without a complete picture, analogies with the print sales market are not obvious and such a comparison is incorrect.

The authorities have another argument in favor of the proposed reform. According to the press secretary of the Media Department Vladimir Yakovlev, today "the owner leases the kiosk to individual entrepreneurs and is not responsible for the assortment." Is he really not responsible for it? How is the assortment in the kiosks formed in general?

Evgenia, you didn't hear me. I repeat once again: this supposedly "fattening" tenant is entirely responsible for the supply of products to the points of sale. And he delivers an assortment that fully corresponds to the nomenclature list permitted for sale.

That is, the "left" assortment cannot appear there? But what about the stories about entrepreneurs who manage to make vegetable breakdowns from newsstands?

Of course, unscrupulous entrepreneurs can appear on the press sales market, like on any other. Tell me the segment where they are not?

-… I will not name - I do not know.

Because unfair business is not a question of the market segment. You can put the "left" product in the ice cream shop and in the flower kiosk. The unregulated assortment is solely on the conscience of the subleasers. But now for them, believe me, the most strict control from the side of the network owners. Otherwise, they risk losing their business. Do they need it?

When, instead of five or ten such responsible private “owner-controllers” who are fully responsible for their business before the law, one large state structure appears, it is likely that the situation will become much worse. Who will control small tenants? What - will special control divisions be created for budget money? But without supervision, "IP-eshniki" will definitely start dragging some "leftist" product in droves and selling them - they also want to earn as much as possible. Understand: the larger the network, the more difficult it will be to monitor ...

- ... Well, or for the purpose of control, the scale can be further reduced, although the head of the Media Department Vladimir Chernikov insisted that the number of newsstands in the city would not decrease during the reform ... If I understood you correctly, the creation of a single state enterprise will not rid the market of the "left" product ?

Will not deliver.

Understand that the supplier of products is vitally interested in not violating the assortment line of the established nomenclature list, so that the merchant does not sell "left-handed" goods, so that the kiosks are clean before the law. The creation of a state enterprise will not solve the problem of the "leftist". On the contrary, it will get even worse, since there will be no such strict control. Due to the scale of the structure being created, it will be more difficult not only to control the assortment, but also to determine the degree of guilt of a private entrepreneur who allowed a product that was not included in the nomenclature to appear in the kiosk.

It is not for nothing that the practice of renting out points of a single branded network is so widespread in all developed Western countries. The western supplier, just like our domestic one, maintains a network of outlets, supplies goods and services them. And everyone who wants to - usually some families who have decided to go into private business - take these points for rent and start making money on them. It is convenient for everyone: both for the owner of the chain, because there is no need to deal with the issues of personnel selection, and for the tenant himself, who now works for himself, and not “for someone else's uncle”.

This is, in my opinion, a franchising system? It turns out that franchising is supported in all other spheres of services, but not in the press sales segment ... And then a new question arises: what about the staff? Well, they will kick out all the subleasers - the kioskers will not appear on the personnel market because of this. And we all know that the lack of staff is almost the main headache of non-stationary retail.

Will not appear. The problem of kioskers in Moscow is the problem of cheap labor. And it will not be solved, it is obvious. At the moment, the kiosk business in Moscow can function only due to the fact that private entrepreneurs work in kiosks who are interested in real sales, and not in salaries, which, by the way, in our low-margin business is simply ridiculous - an average of 18 thousand. rubles.

The sublease of press kiosks in the franchise format is a boon for small businesses and townspeople, but apparently not everyone understands this.

Such a scanty salary by Moscow standards is about nothing ...

So there is no way to raise it! Press sales are falling, printing is selling poorly, additional assortment is limited ... The profitability of the kiosk is 2-3%, what is there to talk about?

But sub-tenants, unlike a hired kiosk, can lease several points at once. This is what family businesses usually do. They "spin", work with customers, advertise newspapers, give recommendations on what else to buy to read - this is how they earn.

It turns out that if the reform is implemented in the form proposed by the government, then the increased costs of salaries for kiosk workers will probably be added to other expenses. Otherwise, for that kind of money, workers, and even in such an amount - as much as 2,000 kiosks, simply cannot be recruited ... Anna Konstantinovna, and the last question. In your opinion, how would it be more correct to reform the press sales market in Moscow so that the wolves, as they say, are fed and the sheep are safe?

First you need to understand what is the main goal of the reform. If, as the media write about this, the Moscow Government wants to change all non-stationary retail facilities for new, more beautiful and modern ones, and the existing market operators cannot do this for well-known economic reasons, then the city can buy these fixed assets and lease them to the same operators. Thus, the problem of replacing the kiosks will be solved, and the existing operators, having taken on lease the main asset - the kiosk, will be able to continue their professional activities without breaking the laws.

Evgeniya Trushina, Olga Kulikova

8:00-9:00Registration, welcome coffee.

9:00-11:00 Course: strategictrends.

• Economic trends - 2015-2016: inflation, ruble exchange rate, sanctions, capital movement.
• Tax Changes - 2015: What's New Prepared by the Ministry of Finance.
• Profession trends: what a CFO needs to consider today.

Leading:

• Evgeny Nadorshin, Chief Economist, Capital IFD.
• Andrey Kizimov, h Deputy Director of the Tax and Customs Tariff Policy Department, Ministry of Finance of Russia.
• Pavel Lebedev, ACCA, MBA, Director, Financial Management Center, National Guild of Professional Consultants.

11:00-11:30 Coffee break.

11:30-13:30 Job: Practical Trends.

• Strategy failures: how to find and fill the gaps that are holding the company back.
• M&A deals: how to use the crisis to strengthen the position in the industry.
• Comprehensive loss management: how to eliminate the "black holes" into which profit flows.
• How to minimize currency risks when entering currency exchanges.
• Access to Asian markets: loans, insurance companies, bond issues, bonds.

Leading:

• Sergey Berezovka
• Anna Gracheva, Vice President for Finance, Logos Group.
• Roman Borisov, CFO, Inventive Retail Group.
• Victoria Soldatova, CFO, Reynaers Aluminum RUS.
• Ilya Taraba, investment director, JSC Gazprom Gazenergoset.

13:30-14:30Dinner.

14:30-16:30 Job: Practical Trends.

• Negotiations with the bank: optimization of the loan portfolio and ways to reduce the effective borrowing rate.
• Beware of sanctions: how to rebuild business processes in a company to ensure safe work.
• Diversification: how to prepare a company to enter a new grocery and geographic market.
• How to control risks and find investment ideas.
• Experience in working with global investors (EBRD, World Bank).
• How to identify growth points and not miss the won positions.

Leading:

• Vladimir Kozinets, Director of Treasury and Risk Management Department, Rolf, President of the Association of Corporate Treasurers of Russia.
• Gayane Asatryan, CFO, CSI Vostok.
• Igor Basov, Chief Financial Officer, General Energy Service Alliance.
• Alexander Merinov, Chief Risk Manager, Deputy Director for Investments and Controlling, Rostelecom.
• Nikolay Garanin, Chief Financial Officer, Pharmacy Chain A5.

16:30-17:00 Coffee break.

17:00-19:00 Profession: career boom.

• The Skillful Leader: The Methods of Managing the Finance Department that Work in Crisis.
• Self-preparation: how to stay in demand in a crisis.

• How employers' requirements are changing.
• Supply and demand: salary expectations.
• How much to invest in your education.
• Professional certificates: a tribute to fashion or real benefits.

• Discussion. Career prospects: what should be the next step.

Leading:

• Sergey Berezovka, certified director (CertDir IoD), member of the board of directors of manufacturing companies of federal significance, financial director, Swiss company "Zika" (Sika).
• Irina Feoktistova, CFO, Transoil.
• Ivan Pirozhkov, general manager, VM Capital.
• Sergey Kudryashov, Internal Audit Team Leader, EY, Former CFO, World Trade Center.

Financial laboratory: experiments with numbers (case studies, group work).

• Monitoring budget execution in a difficult economic situation.

• Ways to legally knock out debts: how to protect yourself from the risk of non-payment and what will convince the counterparty to return the money.
• How to properly "present" unattractive results to shareholders.
• Technique of day-to-day cost optimization: how to save money correctly without sacrificing the company.

Leading:

• Sergey Chadin, CFO, GC "Unitile".

work experience

22 years 3 months

Deputy CFO / Director of Management Reporting Department

Management Company of a Large Holding (FMCG, Development, Insurance, Bank, Hotel Business) in

The financial services are subordinate to 15 businesses (raw materials (coal, copper), metallurgical (OCM), engineering (turbines), transport (Airport, airline, Sea port), financial (Bank, Pension Fund), real estate.
1. Budgeting:
Setting up a budgeting system in accountable businesses;
Drawing up a consolidated annual budget for the centers of profitability for the next year, forecast balance and cash flow;
Drawing up quarterly budgets to clarify the trend of the annual balance sheet;
Drawing up monthly forecasts of budget execution and cash flow
Control over the execution of budgets by businesses;
Tax planning;
Setting up cost accounting in Businesses.
2. Preparation of financial statements:
Preparation of consolidated annual / quarterly management reports separately for each company and consolidated in Russian and international standards;
Plan - fact analysis of budget execution;
Calculation of basic financial and economic indicators of enterprises (AFHD).
3. Financial forecasting and modeling.
4. Methodological work:
Development and implementation of regulations for business planning and forecasting and reporting;
Development of management financial policy;
Development and implementation of technical specifications for the automation of reporting;
Development of a methodology for consolidating the holding's reporting;
Development of a system of incentives for employees of the enterprise;
Development of financial and legal schemes for the functioning of the company.
5. Experience in implementing ERP systems.
6. Attraction of external financing.
7. Management of the company's cash flows.
8. Implementation of financial control and internal audit.
9. Working with external auditors, including international ones.
10. Analysis and evaluation of the effectiveness of investment proposals (break-even, payback, IRR, NPV).
11. Experience with offshore companies.
12. Conducting DD, participating in the development of schemes for M&A transactions.
13. Participation in privite placement and preparation of the enterprise's IPO.

Deputy CFO

Western Publishing House in

1. Methodological work:
Development of management financial policy
Development and implementation of technical specifications for the automation of reporting
Development of a methodology for the consolidation of the holding's reporting
Development of a system of incentives for employees of the enterprise
2. Budgeting:
· Drawing up an annual budget for the next year according to the centers of profitability, forecast balance and cash flow
Tax planning
Preparation of quarterly budgets as part of the clarification of the trend of the annual balance
· Drawing up weekly forecasts of budget execution and cash flow
· Calculation of the cost of each product,
Calculation of GM, EBITDA, EBIT,
3. Preparation of financial statements:
Profit and loss statement separately for each company and consolidated in Russian and international standards
Balance sheet for each company and consolidated in Russian and international standards
Plan - fact analysis of budget execution
Calculation of the main financial and economic indicators of enterprises
4. Calculation of the effectiveness of new projects (movement of money, payback period)
5. Working with external companies:
Banks (attraction of investments)
Auditors
Appraisal companies
· Insurance companies

Economist of the Central Planning Office

FSUE Flight Research Institute named after MM. Gromov in

Feasibility study preparation,
Calculation of the estimate for the maintenance of the aerodrome,
Calculation of the cost of a flight hour,
Audit of subsidiaries (a / p Ramenskoye, AK Moskovia),
Maintenance of contracts (budget financing).

Deputy General Director for Economics and Finance

Large publishing holding in

1. Restructuring of the business perimeter;
2.Participation in the preparation of the development strategy of the GC;
3. Implementation of a unified ERP system in all enterprises of the Group of Companies (more than 30);
4. Creation of a unified internal control service;
5. Supervising the creation of a personnel motivation system;
6. Cost management;
7. Work with banks to attract external financing. Maintenance of the current and preparation of the issue of a new bonded loan;
8. Implementation of Tax Planning in the Civil Code;
9. Improving the efficiency of management of fixed assets owned by the GC;
10.Participation in planning advertising campaigns and PR actions;
11. Together with the sales service, building price matrices for various types of customers;
12. Working capital management, introduction of a payment calendar and regulations for the passage of payments, control of receivables and payables, the introduction of turnover standards;
13. Preparation of proposals for optimizing the cost system;
14. Analysis and optimization of the structure of financial and accounting departments;
15. Preparation of business plans for new projects for consideration by the Board of Directors;
16. Preparation and provision of analytical reports to the State Duma, BoD and shareholders;
17. Development and implementation of a unified management accounting policy for GC;
18. Implementation of a unified budgeting regulation for the entire Group of Companies;
19. Introduction of a unified methodology in the preparation of reporting by the Civil Code;
20. Preparation of financial forecasts. GC results;
21. Development of regulations for attracting external financing.