Issue: № 10, 2024
Doi: https://doi.org/10.37634/efp.2024.10.1
This paper sets the task of researching ways to improve the management of financial resources of a business entity using the example of ArcelorMittal Kryvyi Rih. The paper identifies the main areas of optimization of financial decisions, strategic planning and risk management in conditions of market instability and resource scarcity. In the process of research, methods of scientific abstraction, structural-decompositional analysis and synthesis, logical generalization, cause-and-effect relationship, logical-prognostic, meaningful-comparative were used to meaningfully reveal the essence of the problem. The novelty of the paper consists in a systematic approach to the management of financial resources in the conditions of the economic crisis and the risks of the world steel market. In particular, the work examines the use of new financial instruments for diversification of financing sources, the use of hedging to reduce currency risks, and the implementation of environmentally oriented projects that increase the sustainability of the enterprise. The practical significance of the paper consists in the development of specific recommendations for optimizing the management of financial resources, which can be useful for managers of companies in the metallurgy industry. The proposed solutions help strengthen financial stability, improve liquidity and ensure efficient use of capital in conditions of limited access to resources and unstable prices for raw materials. The paper presents the practical results of optimizing the management of financial resources using the example of ArcelorMittal Kryvyi Rih. Key aspects of financial planning, liquidity and risk management are considered, as well as examples of attracting profitable financing for environmental projects are analyzed. The results of the paper show that strategic financial management enables the company to remain competitive even in crisis conditions. The problem of improving the management of financial resources is one of the key ones in the modern conditions of an unstable economy. It is related to scientific tasks, such as the development of new models of financial planning and risk analysis, as well as to practical tasks, such as ensuring financial stability, increasing profitability and reducing financial costs. Analyzing modern publications on the management of financial resources, one can note the growing interest in risk management issues, the use of financial instruments to reduce risks and optimize the capital structure. In particular, scientific works devoted to the metallurgical sphere emphasize the importance of diversification of funding sources and liquidity management in conditions of unstable markets.
Keywords : Financial Resource Management, ArcelorMittal Kryvyi Rih, monitoring of financial activity, financial reporting, assessment of financial condition
References:
1.Ernst end Young Audit Services. ArcelorMittal Kryvyi Rih: Financial statements and independent auditor's report. 2022. 60 p. (in Ukrainian).
2.Official website of ArcelorMittal. URL: http://www.arcelormittal.com (in Ukrainian).
3.Market of rolled steel in the EU. URL: https://gmkcenter/ua/infographic/rinok-dovgogo-stalevogo-prokatu-v-ies/ (in Ukrainian).
4.Working capital for "AMKR". URL: https://www.ebrd.com/work-with-us/projects/psd-translation/54193/1395311018754/RLF_-_AMKR_Working_Capital_(Ukrainian).pdf?blobnocache=true (in Ukrainian).