Kondycja finansowa spółdzielni mleczarskich w Polsce

The purpose of the study was to analyze financial results of dairy cooperatives entitled to export to European Union's market (group A) and results of cooperatives not entitled to export from Świętokrzyskie Province (group B). The average price paid for milk by group A cooperatives was 30 percent higher. In cooperatives from group A the own capital, fixed assets and current assets were on average 10 times higher than in the group B cooperatives. In 2001 group B cooperatives incurred loss, while the average profit of group A cooperative was 3182,1 thousand PLN with tendency to fast grow. Group A cooperatives used more elastic management policy of regarding receivables. In the both groups liabilities turnover was longer than receivables. Milk cooperatives from group A were characterized by higher degree with lengthen paying terms. A difference in stock management was insignificant between groups, and the stock turnover ratio on the level of 16-26 days allows assuming that stock administration is right. Both groups of cooperatives were marked by satisfactory level of general and fast liquidity index, although they can had problems with settling current liabilities from the most liquid means. The debt of assets in cooperatives from group A was a little bit higher than in cooperatives from group B, but it did not exceed 50 percent.