Prediction of Developments in the Textile and Clothing Industry in Slovakia by Selected Indicators of Financial Analysis

Abstract

The textile and clothing industry in Europe can be considered as a not profitable sector . The goal of the contribution is an evaluation of selected indicators of financial analysis, credit score and bankruptcy models as well as strategic analysis in selected companies of the textile and clothing industry in Slovakia. The next goal is an outline of development possibilities of the sector in the future. During the research we used data from the five most important companies doing business in the textile and clothing industry in Slovakia. The data obtained were processed by the bonity and Altman index, providing the possibility to determine possible future development in the industry. The results show a decrease in the number of textile and clothing companies in Slovakia. Such results can be used for the setting of scenarios of development, which show that the Slovakian textile, clothing and leather industry should multiply its effort to maintain its position on the international markets.