Evaluation of companies' sustainability in crisis conditions

The study aims to identify the impact of global and national crises on the sustainability of companies in the example of manufacturing industries in Latvia and Ukraine. The study employed statistical analysis to identify the main trends and changes in global and national economic indicators that occurred due to the crisis. The correlation analysis was used to establish a link between these indicators and the sustainability of manufacturing companies in the studied countries. The obtained results show that global and national indicators, changes which may indicate the presence of crisis phenomena, are related to the sustainability indicators of companies. However, this relationship is not the same for countries with different levels of economic openness and different degrees of economic integration into global markets. Thus, the sustainability indicators of Latvian companies are more closely correlated with the values of global and national gross domestic product, inflation,

unemployment, production. In general, the resilience of Latvian companies is higher than that of Ukrainian companies. In both Latvia and Ukraine, companies' sustainability performance has been affected by the crisis, including the COVID-19 pandemic and the war in Ukraine. However, the war in Ukraine has had particularly severe consequences, including for the resilience of companies. Thus, the overall commercial profitability after tax, which was 10.11% in the country in 2021, fell to more than -3.24%. These results indicate the relevance of a study of the degree of influence of global and national trends in the process of assessing the sustainability of companies and may be useful for assessing the financial aspects of the sustainability of the manufacturing industry. [Publisher's Text]