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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

On April 24th, 1995. By the decision of the municipal council, Mažeikiai state bus fleet was reorganized into a special-purpose private limited company „Mažeikių autobusų parkas“ (SPUAB). The main economic activity remains the transport of passengers by bus. Types of activities approved for the company, the company’s board, the chairman of the board, the company’s auditor. The company was reorganized in accordance with a project prepared by the former board of directors of the company. SPUAB „Mažeikių autobusų parkas“ took over the obligations and rights of the former company from the date of registration of the company in the register of companies.

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 2,394 2,494 1,586 1,830
Cost of goods sold 1,959 2,022 1,309 1,494
Gross profit (loss) 435 472 277 337
Gross profit margin 18% 19% 17% 18%
Operating expenses 361 381 266 308
Operating profit (loss) 74 91 11 29
Operating profit margin 3% 4% 1% 2%
EBITDA 330 381 294 288
EBITDA margin 14% 15% 19% 16%
Net profit (loss) 72 83 17 32
Net profit margin 3% 3% 1% 2%

Balance sheet

2018 2019 2020 2021
Non-current assets 1,181 1,175 936 753
Intangible assets 0 0 0
Tangible assets 1,181 1,174 936 753
Financial assets
Other non-current assets
Current assets 240 304 340 525
Inventories and prepaid expenses 49 59 49 51
Accounts receivable in one year 165 198 194 247
Other current assets
Cash and cash equivalents 26 47 97 227
Total assets 1,474 1,538 1,325 1,326
Equity 797 871 880 911
Grants and subsidies
Liabilities 677 667 444 416
Financial liabilities 304 285 189 91
Long-term liabilities 204 172 91 41
Short-term liabilities 473 495 354 375
Equity and liabilities 1,474 1,538 1,325 1,326

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 5% 6% 1% 2%
Return on equity (ROE) 9% 10% 2% 4%
Return on capital employed (ROCE) 18% 20% 5% 9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.38 0.33 0.22 0.10
Current Ratio 0.51 0.61 0.96 1.40
Quick ratio 0.40 0.49 0.82 1.26
Turnover ratios
Asset turnover 1.69 1.66 1.11 1.38
Fixed asset turnover 2.23 2.12 1.50 2.17
Equity turnover 3.13 2.99 1.81 2.04
Profitability ratios
EBITDA margin 14% 15% 19% 16%
Operating profit margin 3% 4% 1% 2%
Net profit margin 3% 3% 1% 2%
Other ratios
Dividends to the Municipality 9.78
Dividends paid / net profit 0.14

Financial statments

Expectations of the municipal

About the company

  • Official nameUAB „Mažeikių autobusų parkas“
  • Legal formPrivate limited liability company (UAB)
  • Company code166552032
  • SectorPublic transport
  • Line of businessPublic transport
  • Representing institutionMažeikiai district municipality
  • Share belonging to the Municipal97.7%
https://mazeikiuap.lt/
ROE

3.5%

Number of employees

95

Financial data provided as at end-December 2021