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Chercher The rating agency "RIA Rating" has prepared another rating of the 100 most valuable Russian companies. The composition of the top three most capitalized companies has not changed, but the leader has changed, which became Sberbank in 2018.
In economic terms, the past 2017 turned out to be quite successful for Russian companies. Macroeconomic statistics were moderately positive, consumer spending began to grow, and oil prices for most of the year were at a relatively high level that was comfortable for the Russian economy. However, this did not have a significant positive impact on the Russian stock market - most companies showed a decline in the first half of the year, which was not offset by the growth that began in June 2017. The main ruble index (Moscow Exchange) fell by 5.5% over the year, while the dollar index (RTS) grew by only 0.2%. However, despite the decline in the index, most of the largest companies by capitalization showed an increase in quotations in 2017.
To assess the changes that have occurred among Russian issuers and in the Russian stock market in general, experts from the RIA Rating agency have prepared the next annual, fifth in a row, Rating of the 100 most valuable public companies in Russia as of the beginning of 2018. According to the rating, the total capitalization of the TOP 100 Russian companies over the past year increased by 1.3% or $8.4 billion to $643 billion as of December 29, 2017. For comparison, in 2016 the growth was much higher - +58% or +233 billion dollars.
Over the past year, the list of the hundred largest public companies in Russia has not changed very much. At the end of 2017, 9 new companies were able to get into this list, including five companies through IPOs and SPOs (En+ Group, Child's world, Lenenergo, INGRAD and Pharmacy Chain 36.6). At the same time, the majority of new companies managed to show results that placed them at the bottom of the ranking, and only one company out of nine new ones immediately occupied a position at the top of the ranking of the hundred most valuable companies in Russia - this is En+ Group, which was not previously public, taking 21 a place with a capitalization of $7.8 billion.
The median capitalization of the Russian 100 public companies did not change and amounted to $1.8-1.9 billion. In turn, the minimum capitalization size with which one could be among the TOP 100 most valuable companies at the end of 2017 was $318 million, against $267 million in last year’s ranking and 157 as of December 31, 2015. (Thus, the lower bar for entering the 100 most valuable companies in Russia has doubled in two years.
The leader in capitalization has changed again
The composition of the top three most valuable companies in Russia, as in 2016, has not changed, but all three companies have changed places. Rosneft, which in 2016 pushed the long-time leader (Gazprom) off the pedestal, was unable to retain first place in 2017 and at the end of last year took third place. This is explained by a decrease in Rosneft's capitalization by 24% over the year to $53.30 billion. The leading position in the ranking is now occupied by Sberbank, whose capitalization over the past year has grown by almost 40% to $84 billion. At the end of last year, second place was occupied by the long-term leader, Gazprom, with a capitalization of $53.35 billion. At the end of 2017, Gazprom’s capitalization decreased by 11%, which allowed it to slightly (all by $45 million) overtake Rosneft.
The top ten, according to the rating, also includes LUKOIL, NOVATEK, Norilsk Nickel, Gazprom Neft, Tatneft, Surgutneftegaz and NLMK. It is worth noting that at the end of the year, two companies left the TOP 10, and accordingly, there were two new companies in the top ten.
Magnit and VTB Bank left the list of the ten largest companies in Russia by capitalization. VTB Bank lost 4 places in the ranking (moved from 10th place at the end of 2016 to 14th place at the beginning of 2018), which was due to a reduction in capitalization by 33%. U retail network Over the past year, Manit's capitalization has decreased even more - by 39% or $6.6 billion, which led to the loss of 8 places in the ranking, and now this company is located in 16th place. In terms of the absolute volume of capitalization reduction, Magnit showed the second result, second only to Rosneft, and in terms of relative reduction it became the third in the TOP-100 after AFK Sistema (-44.6%) and FG Future (-52.3%).
Instead of retired companies, the TOP 10 included Tatneft (8th place, capitalization growth over the year by 19%) and NLMK (10th place, +36%). In addition, among the largest ten companies in the country, Gazprom Neft improved its position, which moved from 9th to 7th place due to a 19% increase in capitalization over the year. At the same time, in 2017, Surgutneftegaz lost two places in the capitalization ranking and is now in 9th position, which is associated with a decrease in its capitalization by 5.6% or $1 billion.
In general, at the end of 2017, the capitalization of companies in the top ten of the rating increased by 2.6%. Thus, the leaders, on average, grew slightly faster than other companies. At the same time, the minimum volume market capitalization, which is necessary to get into the TOP 10, on the contrary, became smaller over the year - $15.3 billion as of December 29, 2017 versus $15.9 billion as of December 31, 2016. In many ways, the good overall dynamics of the TOP 10 companies is explained by the result of the leader of the rating - Sberbank. Its capitalization increased by $23 billion over the year, and without its results, all other companies from the TOP 10 showed a total decrease in capitalization.
The industry composition of the top ten has become even more homogeneous over the year, although previously the diversity was not very large. Seven of the ten most valuable companies represent the oil and gas sector (a year earlier there were 6), one bank is also represented in the top ten (previously there were two), and two metallurgical companies (at the end of 2016 there was one metallurgical company in the top ten).
Additional issues and SPO ensured multiple growth of capitalization
Among the 100 most valuable companies, market capitalization increased in 55 in 2017, which is noticeably less than last year’s result (91 companies). But in previous years, fewer companies with positive dynamics were replaced - in 2015 and 2014 there were only 45 and 12 such companies, respectively. The leader in market capitalization growth rate among the TOP 100 companies in the rating in 2017 was the development company Ingrad. The capitalization of this company increased more than 8 times during the year. Such a significant increase in capitalization was a consequence of rising quotations and an additional issue of shares amounting to about 26 billion rubles as part of the merger of OPIN and Ingard. The second company in terms of growth rate was Lenenergo, whose capitalization increased by 4.7 times, which is also mainly due to the additional issue. In general, 5 companies had multiple capitalization growth in 2017, which in most cases was due to additional issues. For comparison, in 2016, 25 companies showed a multiple increase in capitalization, which was most often determined by the dynamics of shares.
The largest decrease in capitalization in 2016 among the companies included in the rating was demonstrated by the company in the financial sector of the Future Financial Group. Its capitalization has more than halved over the year. The main reason for the decline in capitalization, according to RIA Rating experts, was significant problems with other financial companies(Otkritie, BIN and Promsvyazbank). FG "Future" suffered losses in this regard, which led to a decrease in its quotes. Among the companies with a significant decrease in market capitalization were also AFK Sistema, Magnit, Bashneft, VTB Bank, Nizhnekamskneftekhim, Lenta, Chelyabinsk Zinc Plant, Rusagro, Uralkali and Polyus. According to RIA Rating analysts, the decrease in capitalization among the leaders in negative dynamics was mainly due to individual reasons.
In 2017, there were two relatively large IPOs, as a result of which the list of largest Russian companies was replenished with new names. Firstly, the IPO was carried out by En+ Group, the holding company of Oleg Deripaska’s assets. Its capitalization is mainly determined by the value of RUSAL (48% of shares belong to En+ Group) and energy assets. In the ranking, En+ Group is in 21st place with a capitalization of $7.8 billion. Conducted another major placement commercial network Children's World (capitalization at the beginning of 2018: $1.2 billion, 61st place in the ranking). We can say that in 2017 the placements were quite successful, however, according to RIA Rating experts, there are most likely no prerequisites for a radical expansion of geography, industry diversity and the list of public companies in general.
Industry concentration remains high
As before, the largest contribution to total cost The most valuable companies in 2017 were contributed by corporations related to oil and gas production and oil refining. They account for 39.9% of the total capitalization of the TOP 100 most valuable companies in Russia, which is 4.2 percentage points less than a year earlier. The reduction in the share is associated with negative dynamics in the value of a number of the largest companies in this sector.
The share of market capitalization attributable to financial sector companies increased over the year to 16.9% versus 15.8% in the previous rating, and their market value approached $110 billion (+8.7% compared to the previous year). The third industry by total capitalization was metallurgy. Metallurgical companies account for 13.9% of the total market value of the largest Russian companies by capitalization (11.6%). In general, 2017 can be called the “year of metallurgists”, since following the prices for steel and coal, their stock quotes showed rapid positive dynamics.
At the same time, the results of the current rating indicate that the Russian financial sector has sharply reduced its representation in the rating, although last year it was the leader in the largest number issuers in the rating. At the beginning of 2018, only 10 companies from this sector were represented among the TOP 100 most valuable companies in Russia, compared to 16 at the end of 2016. Thus, financial companies became only the fourth most represented among all industries. This dynamics in the number of public financial companies is associated with the reorganization of three large Russian banking groups, which RIA Rating wrote about in detail in a material devoted to the analysis of the results of the banking sector in 2017. http://riarating.ru/banks/20171227/630079927.html
It is worth noting that, despite the sharp reduction in the number financial organizations, the share of the three largest industries by capitalization still exceeds 70% of the total capitalization of the TOP 100 companies in the ranking. Thus, industry concentration remains relatively high.
At the same time, the leading industry in terms of capitalization growth rate in the ranking was the industry " Information Technology", the share of which increased over the year by 1.6 percentage points to 2.6% of the total market capitalization. This became possible due to the growth of the market capitalization of companies representing this industry by more than 1.6 times. The worst dynamics in 2017 demonstrated by companies representing such industries as agro-industrial complex and food industry" and "Trade".
According to RIA Rating experts, in 2018, the growth of quotes for most companies, which began in mid-2017, is likely to continue. However, for many of them the low base effect has already been exhausted and growth should not be very strong. It is noteworthy that external risks remain high, in particular, a strong tightening of sanctions from the United States is possible, which could become a “black swan” for the Russian stock market. At the same time, a number of sectors and companies from them will continue to benefit from economic stabilization, lower inflation and easing monetary policy.
Companies that showed the highest market capitalization in 2016 and were recognized as the most expensive by this indicator: Apple, Alphabet, Microsoft, ExxonMobil, Berkshire Hathaway, Facebook, Johnson & Johnson, Amazon, General Electric, Wells Fargo.
The holdings whose shares collectively have the highest price in the world are the most expensive by market capitalization. This indicator should not be confused with market value.
During inter-exchange trading, the price of shares constantly fluctuates, so capitalization changes daily. The rating indicates the capitalization on the basis of which the English-language publication Forbes magazine prepared and published a list of the most valuable companies in the world in May 2016, as well as some capitalization indicators in 2017. All ten places in the ranking belong to American corporations.
Apple
The status of the world's most valuable corporation by market capitalization belongs to the legendary Apple, a public company founded by Steve Jobs, Ronald Wayne and Steve Wozniak in April 1976. Until January 2007, it was called Apple Computer, Inc.
Produces:
- computer equipment;
- telephones;
- tablets;
- TVs;
- smart watch;
- digital music players;
- software;
- OS under the iCloud and Apple brands.
Apple has firmly established a unique reputation as a manufacturer of electronics with aesthetic design coupled with modern innovative technologies.
Capitalization: 586 billion US dollars at the time of Forbes magazine’s ranking for 2016, and 766 billion dollars at the beginning of April 2016
Since 2016, the company’s capitalization has had a pronounced growth trend, reaching a figure of more than 700 billion US dollars by the beginning of 2017.
Corporate headquarters Apple is located in the Californian city of Cupertino.
Apple has gone from a small startup founded in Steve Jobs' garage, which later became a cult figure and idol of youth around the world, to the richest corporation in terms of capitalization. It is interesting that the initial capital for starting the business was the money earned by Jobs from the sale of a minibus and Wozniak from the sale of a calculator (!).
Alphabet
Second place is occupied by a company owned by the founders of the Google Inc holding, Larry Page and Sergey Brin. It owns several large companies and Google Inc itself, whose shares were converted into shares of Alphabet Inc.
Market capitalization: $500.1 billion in May 2016 and $586 billion at the beginning of 2017.
The transformation of Google into Alphabet was officially announced in August 2015, a move that raised eyebrows among the general public. Since then, the Google receiver has repeatedly overtaken the giant Apple and taken first place in the top of the most valuable companies in the world by market capitalization.
The holding's headquarters are located in the world center of the cluster high technology- Silicon Valley in the USA in the small town of Mountain View, California.
Before the end of 2017, the American holding Alphabet intends to begin construction of a building with an area of 85 square meters. meters in London, which will become its headquarters.
According to the publishing house Gazeta.ru, analysts expect a significant increase in the capitalization of the holding due to the rapid growth of the mobile advertising market; according to forecasts, by 2019 the volume of this market could reach $200 billion.
Remarkable is the fact that Alphabet controls 12% of all the money in the world spent on media advertising. This information is provided by the national professional advertising industry magazine Adweek. No company in the world has previously single-handedly controlled such a gigantic share of the global advertising market.
Microsoft Corporation
To the largest developer software transnational scale, which was founded by Bill Gates (now the richest man in the world) and Paul Allen, turned 42 years old in April 2017. The programs that Microsoft develops are designed to personal computers, laptops, mobile phones, game consoles.
Capitalization:$407 billion in May 2016 and $514 billion at the beginning of April 2017.
The holding's headquarters is located in the city of Redmond, located in Washington state (USA).
Microsoft Corporation has launched several IoT laboratory projects: in Washington, Redmond and Shenzhen, and recently in Munich, Germany. These are the so-called Internet of Things laboratories. The idea of the projects is that in the near future all household appliances: from vacuum cleaners to refrigerators will be connected to the Internet.
ExxonMobil
The fourth position on the list is occupied by Exxon Mobil Corporation, the world's largest public oil company. The founder of the parent trust of Standard Oil Corporation, Exxon Mobil Corporation, is John Rockefeller, the first dollar billionaire in human history.
It is engaged in the exploration, development and distribution of gas and oil, trades in petroleum products, and produces petrochemicals.
Capitalization: 363.3 billion US dollars in May 2016, 366 billion dollars at the beginning of 2017.
The headquarters is located in the Texas city of Irving.
In 2011, Exxon Mobil entered into an agreement with one of the largest Russian oil companies, Rosneft, on joint exploration and production of oil reserves on the Black Sea shelf. However, due to US sanctions imposed in 2014, joint work was suspended.
Berkshire Hathaway
The holding was founded in 1955 by Oliver Chase (now chairman of the board of directors and owner - Warren Buffett). Activities of the holding: insurance, investments, utilities and other services. Freight and rail transportation, financial transactions, trade, production.
Capitalization:$360.1 billion as of May 2016.
The headquarters is located in Omaha, Nebraska, US.
In 2015, according to Forbes, Berkshire Hathaway was ranked fifth (the first four places belong to Chinese banks) among the largest public companies in the world and first among American ones.
The world's largest social network Facebook and the company of the same name, created in 2004 by a psychology student at Harvard, Mark Zuckerberg, together with his friends: Dustin Moskovitz, Eduardo Soverino and Chris Hughes, were also included in the list of the 10 most valuable companies in the world.
Facebook owns: an application with elements of the social network “Instragram” and the instant messenger WhatsApp. The main server of the site is located in the Californian city of Menlo Park.
Facebook is one of the five most visited sites in the world, and its creator, Mark Zuckerberg, was awarded the title of most young billionaire in the world.
Johnson & Johnson
Johnson & Johnson holding, founded by three brothers Robert, James and Edward Johnson in 1886. Produces medicines, medical equipment and hygiene products.
Capitalization:$312.6 billion.
The head office is located in New Jersey in New Brunswick. Current Chairman of the Board: Alex Gorski.
At first, the holding was engaged in the production of plasters and dressings. Now the corporation has more than 250 subsidiaries Worldwide.
Amazon.com
The world's largest company selling goods via the Internet was founded in 1994 by Jeffrey Preston Bezos.
Capitalization:$292.6 billion as of May 2016.
The name was chosen in honor of the Amazon River. Initially, only books were sold, then CDs and video products appeared. Now through the Amazon online store you can buy almost industrial goods: from clothes and toys to food products and electronics.
General Electric
The American diversified manufacturing giant General Electric was originally founded by the inventor of the phonograph, Thomas Edison, in 1878. Now the key figure of the company is CEO and Chairman of the Board of Directors Jeffrey Immelt.
The company produces engines, turbines, locomotives, nuclear reactors, photo and household appliances, lighting fixture, military products (including nuclear warheads) and other products.
The company's headquarters is located in the state of Connecticut, Fairfield (USA).
Serial production of the holding began in 1910 with the production of light bulbs with tungsten filament, the patent for the use of which was acquired from the Russian inventor A.N. Lodygina.
Wells Fargo
The banking company founded by Henry Wells and William Fargo in 1852 is one of the four largest banks in the United States and the most valuable bank by market capitalization in the world. Provides financial and insurance services.
Capitalization:$256 billion as of May 2016.
The company itself is located in San Francisco, California, and the headquarters of the banking division is in South Dakota.
Wells Fargo was the first bank to offer customers in 1995 the opportunity to carry out account transactions via the Internet: buy and sell securities, pay bills. The controlling stake in the company is controlled by the Berkshire Hathaway holding, owned by multi-billionaire Warren Buffett, which is in fifth place by capitalization in this ranking.
This is a list of companies whose shares collectively have the highest price. The largest Russian companies, as well as others except American ones, were not included in it.
In February 2017, the RIA Rating agency released another rating of the hundred most valuable Russian companies. Their total capitalization for 2016 amounted to 635 billion dollars, which is 58% (233 billion dollars) higher than in 2015. At the same time, the value of all Russian companies included in the top 100 corresponds to the capitalization of Apple alone ($630 billion). However, the potential of many companies has not been fully realized and their shares on the market may still soar in price.
Top 10 most valuable public companies in Russia 2017
10. VTB Bank
Capitalization - 15,827 million dollars.
The main shareholders of this bank are government agencies - the Federal Property Management Agency and the Ministry of Finance of the Russian Federation. They own 60.9% of voting shares. In terms of the size of its authorized capital, VTB Bank ranks first among the country's credit institutions, and in terms of assets, it ranks second. In 2016, VTB Bank and Russian Post entered into an agreement to create Post Bank. Dmitry Rudenko became its head, who intends to increase the bank’s loan portfolio to 4 billion rubles by 2023.
9. Gazprom Neft
Capitalization - 16,888 million dollars.
The company was founded in 1995 by order of Boris Yeltsin and was then called the Siberian Oil Company. In 2005 her controlling interest Gazprom bought the shares. Gazprom Neft was the first company to begin producing oil on the Russian Arctic shelf. By 2020, the company plans to increase total oil production to 100 million tons of oil equivalent per year.
8. Magnet
Capitalization - 17,005 million dollars.
Almost all Russian cities are covered by a “magnetic” network. The total number of Magnit stores as of July 2016 reached 12.9 thousand. The first of the Magnits was opened in 1998 in Krasnodar and was initially sold there household chemicals. And the development of the hypermarket network began in 2006. In 2007, the first of them was also opened in Krasnodar. Apparently, this is a happy city for the owners of Magnit.
7. Surgutneftegaz
Capitalization - 18,217 million dollars.
The most large enterprise city of Surgut and one of major players on the Russian oil market. For the entire 2016, Surgutneftegas produced 61 million 848.6 thousand tons of oil and produced 9 billion 663 million cubic meters of gas. And the non-state pension fund under the brand of the same name has become one of the most profitable in Russia.
6. MMC Norilsk Nickel
Capitalization - 26,201 million dollars.
Russian mining and metallurgical giant, which produces 100% of platinum on the Russian market, 96% of nickel, 95% of cobalt and 55% of copper. The share of mining and metallurgical companies accounts for 1.9% in Russia's GDP. Vladimir Potanin, who holds the position of General Director of Norilsk Nickel, said at a meeting with Vladimir Putin that by 2023 he intends to invest about 1 trillion rubles in the development of production. This will allow the company to rejuvenate its capacity and make it the largest in the world.
5. NOVATEK
Capitalization - 39,220 million dollars.
It ranks second in Russia in terms of gas production volumes. Together with such companies as Rosneft, Gazprombank and Vnesheconombank, it is included in the US sanctions list. This means that NOVATEK cannot borrow on the US market for longer than three months.
4. LUKOIL
Capitalization - 48,076 million dollars.
Until 2007, LUKOIL was the leader in terms of oil production in Russia, but then lost this title to Rosneft. In 2017, the company produced its first millionth ton of oil in the Caspian Sea, at the field named after. V. Filanovsky. And in 2016, LUKOIL took fourth place in the annual ranking of environmental efficiency of Russian oil and gas companies according to the World Wildlife Fund and 2nd place in.
3. Gazprom
Capitalization - 59,932 million dollars.
The corporation whose dreams come true ranks third in the list of the most valuable companies in the Russian Federation in 2017. Its interests include not only geological exploration and production of gas, but also its transportation, storage and sales. Since December 2013, Gazprom retained the right to export pipeline gas; until that time, the corporation had the right to export from Russian Federation any gas.
2. Sberbank
Capitalization - 61,159 million dollars.
According to the Central Bank, Sberbank - . There is no need to worry about the deposits placed there; the Central Bank is unlikely to revoke Sberbank’s license in the foreseeable future. And in terms of accessibility, Sberbank occupies the highest step on the banking pedestal - it has almost 17.5 thousand divisions and 14 territorial banks in 83 regions of Russia.
1. NK "Rosneft"
Capitalization - 69,907 million dollars.
The controlling stake in Rosneft is owned by Rosneftegaz, and executive director corporation is Igor Sechin. In 2016, the Glencore consortium and the Qatari fund Qatar Investment Authority acquired a 19.5% stake in Rosneft for 10.2 billion euros. However, Rosneft retains 50%+1 share. Last year, Rosneft was mentioned in the press in connection with the high-profile arrest of the head of the Ministry of Economic Development, Alexei Ulyukaev. He is suspected of threatening and extorting a bribe of two million dollars from a Rosneft representative. Ulyukaev estimated this amount as a positive assessment, allowing Rosneft to acquire the state stake in Bashneft.
To assess the changes that have occurred among Russian issuers and in the Russian stock market as a whole, experts from the RIA Rating agency prepared the next annual, fifth in a row, Rating of the 100 most valuable public companies in Russia as of the beginning of 2018.
The main ruble index (Moscow Exchange) fell by 5.5% over the year, while the dollar index (RTS) grew by only 0.2%. However, despite the decline in the index, most of the largest companies by capitalization showed an increase in quotations in 2017. According to the rating, the total capitalization of the TOP 100 Russian companies over the past year increased by 1.3% or $8.4 billion to $643 billion as of December 29, 2017. For comparison, in 2016 the growth was much higher - +58% or +233 billion dollars. The median capitalization of the Russian 100 public companies did not change and amounted to $1.8-1.9 billion. In turn, the minimum capitalization size with which one could be among the TOP 100 most valuable companies at the end of 2017 was $318 million, against $267 million in last year’s ranking and 157 as of December 31, 2015. (Thus, the lower bar for entering the 100 most valuable companies in Russia has doubled in two years.
The top ten, according to the rating, also included the following companies: Sberbank, Gazprom, Rosneft, LUKOIL, NOVATEK, Norilsk Nickel, Gazprom Neft, Tatneft, Surgutneftegaz and NLMK. It is worth noting that at the end of the year, two companies left the TOP 10, and accordingly, there were two new companies in the top ten. Magnit and VTB Bank left the list of the ten largest companies in Russia by capitalization.
Among the 100 most valuable companies, market capitalization increased in 55 in 2017, which is noticeably less than last year’s result (91 companies). The leader in market capitalization growth rate among the TOP 100 companies in the rating in 2017 was the development company Ingrad. The capitalization of this company increased more than 8 times during the year. The second company in terms of growth rate was Lenenergo, whose capitalization increased by 4.7 times, which is also mainly due to the additional issue. In general, 5 companies had multiple capitalization growth in 2017, which in most cases was due to additional issues. For comparison, in 2016, 25 companies showed a multiple increase in capitalization, which was most often determined by the dynamics of shares.
The largest decrease in capitalization in 2017 among the companies included in the rating was demonstrated by the company in the financial sector of the Future Financial Group. Among the companies with a significant decrease in market capitalization were also AFK Sistema, Magnit, Bashneft, VTB Bank, Nizhnekamskneftekhim, Lenta, Chelyabinsk Zinc Plant, Rusagro, Uralkali and Polyus.
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