FINANCIAL STRATEGY OF AN AGRICULTURAL ENTERPRISE UNDER CONDITIONS OF INTENSIVE RENEWAL OF NON-CURRENT ASSETS

Abstract

The article explores the theoretical and practical aspects of forming an agricultural enterprise's financial strategy during the intensive renewal of its material and technical base. Ukrainian agricultural enterprises currently face unprecedented challenges from martial law, logistics disruptions, and high market volatility, making the balance between technological modernization and financial security critical. 
The study examines the financial activity of LLC "Polissia-Harant," analyzing how capital investment financing sources impact financial stability, autonomy, and liquidity. It evaluates theoretical models for financing fixed assets, including self-financing, bank lending, and financial leasing. 
Based on 2022–2024 financial reporting, the research proves that an aggressive investment policy–relying heavily on short-term liabilities to purchase long-term assets–generates critical insolvency risks. Despite experiencing a 113.51% growth in fixed assets, the company suffered a severe decline in its equity ratio (to 0.42) and absolute liquidity (to 0.06). Furthermore, Matviychuk's discriminant model diagnosed a high bankruptcy probability. 
Ultimately, technological breakthroughs require a comprehensive financial strategy. To mitigate insolvency risks and ensure sustainable development, the article proposes optimizing the capital structure, strictly controlling the autonomy ratio, diversifying financing sources toward financial leasing, and implementing tax planning tools to release internal reserves.