- nut trang sir dung nu c6 dinh
2.2.2. Dank eta hieu qua sa• dpng yin cda c8ng ty trong giai dogn 2011-
— Dinh gii hieu qui sfr dung fling von
Hieu qua sir ding yin la chi tieu quan tying c6 tinh chit guy& dish hieu qui hog ding kith doanh nei chung. Do d6 viec phan tich tinh hinh vi hieu qua sir dung vim co
nen-a quan tong de danh gia thuc tang viec sir dung von b DN tir d6 tim giai phip nang cao hon nfta hieu qui sir dung von cho DN.
De dinh gii thuc chit c8ng the sir dung Win kith doanh cite ding ty ta phai tiEn hanh phan tich cac chi tieu tong hqp phitn anh hieu quA sir dung vim nii chung dm c8ng ty.
Hieu suit se ding yin kink doanh
Ap dung cling thire thu nhit a chtrcmg I. Qua &A lieu 6 bang 2.7 co the they duqc ring hieu suit sir dung yin cult DN ba nam qua dang co xu htrimg gilm din.
Nim 2011, v&i mit ding von du to vao tai san, DN thu ve duqc 0,65 ding doanh thu than. Nhung den Sim 2012, ding v6i 1 ding yin Ay DN chi thu ve duqc 0,63 ding. Sang din 2013 thi con so nay chi dm 0,58 ding.
Viy IS/ do gi hieu suit sir dung On kith doanh cue DN glint trong thin gian qua? Co the they tong tai san cum DN lien Mc tang . Nikm 2012 tong tai san cue DN lit 181.431 trieu ding tang so viol nam 2011 la 25% va nam 2013 lot them 3,56% so yin 2012.
Trong khi do doanh thu thuin Iii tang giam kh8ng on dinh, dang tiled mac tang Iii khong cao bling mac tang dm ding tai sin. Nam 2012, tang 22,83% so vii 2011 a mac 115.125 trieu dtng va giam 4,87% so veri 2012 a nam 2013.
Chinh vi t6c do tang nitwit ciut tai sin va sg giam sat cua doanh thu khien cho ty suit sir dung di sin cua DN ba nam qua lien tgc svt giAm.
Bing 2.7. Hitu suit sir dyng van klub doanh
Dan vi: trieu clang
CM glen Nam 2011 2011 Nam 2012 Nam 2013 Chenh Itch 2012-2011 Chenh Itch 2013-2012 Toyer ithi Twang diii (%) Tuytt d61 Twang it& (%) Doanh thu Ulan 93.725 115.125 109.524 21.400 22,83 (5.601) (4,87) T6ng tai san 145.145 181.431 187.892 36.286 25 6.461 3,56 Hitu suit sir dgng van 0,65 0,63 0,58 (0,02) (3,08) (0,05) (7,94)
(Nguen: So lieu phong ke toan ) Kit Mn: Chi tieu nay cia DN kh8ng phai la qua thipodumg DN can chit tang han den tien dO thi ding , chit Itrang cong trinh de nang cao hieu qua san xuAt nhAm tang doanh thu trong thin gian tai. Ciing nhu phAi biet sir dung hgp 1St thing vein diu to vao tai sin trAnh gay ling phi von, t{to ca hOi me rung diu to de phat tren c8ng ty trong dii h?n.
Doanh 10 tong tdi san
Hieu quA Unit doanh cilia ding ty the hitn qua chi fieu Doanh lgi tong tai sin (ROA).
Bing 2.8. Doanh Iqi tang tAi sin
Dan vi tinh: dang
Chi tau Nam 2011 Nam 2012 Nam 2013
Ttong tai sin 145.144.543.891 181.430.885.757 187.892.357.526 Lqi ran* sau thue 1.669.337.286 3.312.826.490 2.578.115.332
ROA(%) 0,01 0,02 0,01
Tir nam 2011 den nam 2013, ty suit skill kri ten ding tai san cling c6 bien ding. Nam 2011, t9 suit Igi nhuan tren tai sin cua ding ty la 0,01, sang nam 2012 thi suit
nay tang len mac 0,02. Tem la cir 1 eking tai sin dugc dau to thi ding ty thu ye 0,0002 d6ng lqi nhuar► rang. Nguyen nhin chinh din den viec tang nay la do t6c dO tang dut lqi nhuan than nhanh han thc dO tang ctia ding tai san.
Nam 2013, t9 suit sinh kri dm tong tai sin giam so vii nam 2012, a mat 0,01. Viec giam kha ding sinh kri tree da cho thiy trong giai dour 2012 — 2013 yeti s6 von ding ty b6 ra nhieu han nhung Iqi nhuon thu lai it han din den t9 suit sinh lqi giam. Trong am 2013, ngoii khoan dau to cho tai sin co djnh hau hinh cong ty can c6 khoin phai thu khach hang tang len khi'e'n cho Ming tai sin tang len . Trong khi d6 firth hinh san xuit kinh doanh kern han nam ngoai chinh la nguyen nhan khien ty suit nay giam.
Trong ca giai (loan 2011 — 2013, ty suit sinh 16i tren thong tai sin cua ding ty yin a min rat thip. VI vay ding ty can c6 nhftng bin phap khai thac ang lye sin xuat cua tai sin di dat hieu qua thi da.
Doank 10 yen Cho so hate (ROE)
Chi silt ROE dugc tinh thong qua ROA vi s6 Ping tai sin/Ng phiti tra cho ta thiy mac dO sinh kri dm gin CSH cos ding ty qua 3 am.
Bing 2.9. Doanh 191 vim Chii s& but
Dan vi tinh: %
Chi deli Mini 2011 Nam 2012 Nam 2013 Chenh lech (%) (2012-2011) Chenh lech (%) (2013-2012) ROA 0,01 0,02 0,01 100 (100) Tang al san/Ng phai tra 1,2 1,17 1,16 (2,5) (0,85) Ng phai tra/Von CSH 5,00 5,91 6,39 (18,2) 8,12 ROE 0,06 0,14 0,07 133.33 (50)
(Nguen: Nguon so 1 igu phang ke totin )
Chi so ROE dugc tinh thOng qua ROA vi s6 TOng tai san/Ng phii tra cho ta thiy mac d0 sinh lbi dm vim CSH coa cong ty qua 3 nam.
Nam 2012 ROE len nit& trong cal 3 Mtn dat 0,14 tang 133,33% so vii am 2011.
Dieu nay chimg to 1 ding von CSH b6 ra thi ta thu dugc 0,14 dring lqi nhuan sau thug.
Ti s6 nay cao nhit 3 ram la do ti s6 nq phiti traNem CSH va ROA deu Ling.
Nam 2013, chi so ROE giam met nira so yeti nam 2012, 6 mire 0,07. Chi se giim nhieu den vOy li do ROA &am manh, co the la 100%. Dieu nay lim cho t5/ se Ding no/Vin CSH du c6 tang cling khong the keo &roc ROE len.
Nhin vio bang s6 lieu chimg ta c6 the a ding nh#n thiy neu cic yeu t6 'chic
!thong dei thi ti tong cia ti s6 Nq phii trii/Ven CSH chiem nhieu nhit trong co eau ROE. Nhu v#y khi so bien thien cia ti so nay se tic dOng den ROE li nhieu nhit. Do do, muen cho ti se ROE cao vi On djnh cong ty can phii dieu chinh ti se Nq phii traNen CSH sao cho hqp Ii.
Kit 14n: Kinh to - xa hOi nu& ta am 2013 tiep toe bj inh hutng boi so bat On
cua kinh 4 the Oh do khimg hoing tai chinh vi khimg hoing nq cong 6 Chau Au chtra &roc giii quyet. Suy thoii trong khu vot slang euro cling vOi khimg hoing tin ding vi tinh trong that nghiep gia tang tai cic nuOc thui)c khu vvc nay van dang tiep
clan. Hoat dOng sin xuat vi thtrcmg mai tom au bj tac dOng mph, gia ca hang Ma din bien phirc tap. Tang tru?mg cia cic nen kinh 4 diu tau suy giam keo theo so sot giim cia cic nen kinh to Ichic. MOt s6 nuac vi khei nu& len c6 vi tri quan tong trong quan he thucmg mai v6i ntrem ta that My, Trung Quec, Nhalt ban vi EU &Si m#t vei nhieu thich thirc nen tang trang chem. NhUng bit lqi tir so sot giim cia kinh 4 the giOi inh huong xiu den host dOng sin xuat kinh doanh vi deri song don cu trong nu6c. Thi tnrImg tieu tho hang h6a bj thu hap, hang ten kho 6 mire cao, sirc mua trong dart giam. TS, le nq xeu ngan hang 6 mic ?tang lo ngai. Nhieu DN, nhit la DN nhe vi vira phii thu hap sin xuit, ding host dOng ho0c giii the. M5c di da c45 chinh sich uu dal, khuyen khich dau to caa nhi nuUc, nhung viec tiep c#n voi ding yen ngiy met kho khan, lai suit nan hang cao kW& DN 8eP Ichong it kh6 khan. Chi tieu kha nang sinh 16i dm von CSH la cai dich cuoi cling cia cac nhi du hr. Neu ROE th&i gian ten tiep tic giim, dieu nay rat de urn cic nhi diu tu, cic co don cia cong ty lo ngai mit Icheng tiep tic dang gap vim cho cong ty trong thin gian tot C8ng ty can phii c6 nhitng tinh toan hqp 15/ de lim tang doanh thu, giim chi phi nhim tang lqi nhuon cho DN.