Current Problems Of Ukraine'S Machine-Building Industry: The Case Of Large Industrial Enterprises Of Kharkiv Region

Present-day Ukraine faces significant changes in the economic relations associated with the reorientation of the economy to European markets. These changes have had a special impact on the industrial enterprises of Kharkov region due to its geographical location. Internal and external factors which are accompanied by the implementation of economic reforms have led to a temporal drop in production for nearly three years in succession. Such situation actualizes the study of modern trends in the development of industrial enterprises and the search for ways to overcome the crisis. The current state and dynamics of machine-building enterprises, the main problems hindering their effective development as well as ways for improvement of the results of their operations and financial condition on the way out of the crisis have been studied. The development trends of industrial production in Ukraine and the main factors influencing the negative changes in the industry basic indicators have been analyzed, namely: the reorientation of the sales markets, adaptation to the terms of new contractors, low investment activity. The compex impact of certain factors has been studied on the basis of analysis and comparison of the financial results, the dynamics of changes in the main financial indicators of three machine-building enterprises of Kharkiv region: the PJSC "Turboatom", the SE plant "Electrotiazhmash", the SE "Kharkivske Derzhavne Aviatsiine Vyrobnyche Pidpryiemstvo" (KhDAVP). According to the results of the analysis the current state and the main current problems of each of the investigated companies of Kharkiv region have been identified. The conclusions and recommendations have been presented as to stabilization of the economic condition and improvement of their activity and financial performance. Research findings can be used for rapid and radical changes in the development strategy of the industrial enterprises of Ukraine.