Pre- and During-Pandemic Financial Standing of Companies in Poland Ranked According to the Type of Business Activity
| 31 mar 2023
Data publikacji: 31 mar 2023
Zakres stron: 65 - 80
Otrzymano: 01 lis 2022
Przyjęty: 01 sty 2023
DOI: https://doi.org/10.2478/ers-2023-0005
Słowa kluczowe
© 2023 Sławomir Lisek, published by Sciendo
This work is licensed under the Creative Commons Attribution 4.0 International License.
Subject and purpose of work
This paper seeks to examine how the COVID-19 pandemic affected the financial standing of companies classified according to the type of their business activity.
Materials and methods
This paper is based on aggregate data on businesses operating in Poland in the period 2017–2021, grouped according to the type of business activity. The data was published by the Central Statistical Office GUS in Poland. The company status was investigated using the calculated values of diagnostic indicators (return on assets, current financial liquidity, level of debt, stock rotation, and growth in sales). These indicators were normalized with the zero unitarization method to construct a synthetic indicator. The synthetic indicator was then used to generate business rankings.
Results
The vast majority of the examined companies proved to be profitable. In 2020, the profitability and sales revenue of the businesses concerned were found to deteriorate slightly. There has been a downward trend in the rankings for companies operating in the accommodation and catering sector and the manufacturers of petroleum products. Pharmaceutical companies were the businesses that improved and topped the rankings.
Conclusions
The pandemic had a strong negative impact on businesses operating in the market sector of accommodation and catering. The producers of refined petroleum products were also affected. The producers of pharmaceuticals benefited most during the pandemic. There are no clear indicators as to the impact of the pandemic on other types of businesses.