Selected Ratio and Bankruptcy Early-Warning Method Analysis of Competitiveness of Wood Sector Companies Listed on Warsaw Stock Exchange

This paper presents the analysis of economic conditions of wood sector companies listed on the Warsaw Stock Exchange. Among many measures of ratio analysis, the three most frequently used groups of indicators - profitability, debt and liquidity were selected. For a comprehensive presentation of the situation of each company, the Mączyńska & Zawadzki’s model was used as the bankruptcy early warning method. Two furniture industry companies, two wood-based panel industry companies, two pulp and paper industry entities, a representative of sawmilling industry and a company of wood-based panels and furniture industry were analyzed. The analysis showed that companies with stabile position in the market have the best economic conditions, and these were namely the pulp and paper industry and furniture industry.Ovaj rad sadrži analizu ekonomskih uvjeta u tvrtkama drvnog sektora koje se nalaze na Varšavskoj burzi. Među mnogim metodama mjerenja i analize omjera odabrane su tri najčešće skupine indikatora – profitabilnost, dugovanja i likvidnost. Za sveobuhvatnu prezentaciju situacije u pojedinoj tvrtki u proračunavanju ranog upozorenja bankrota odabran je model Maczynska & Zawadzki. Analizirane su dvije tvrtke proizvodnje namještaja, dvije trtke za proizvodnju drvnih ploča, dvije tvrtke u području proizvodnje pulpe i papira, jedan predstavnik pilana i jedna tvrtka koja proizvodi i namještaj i drvne ploče. Analiza je pokazala da najbolje ekonomske uvjete imaju tvrtke sa stabilnom pozicijom na tržištu među koje pripadaju tvrtke za proizvodnju pulpe i papira te za proizvodnju namještaja