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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

UAB Būsto paskolų draudimas was established in 1998 with the aim of partially solving the problem of housing finance and boosting the real estate market. The company insured housing loans, including those of citizens entitled to state support, and loans for the modernisation of multi-apartment buildings, thereby participating in the modernisation programme for multi-apartment buildings. Currently, the Company provides insurance protection services under credit insurance contracts concluded in favour of banks or other credit institutions registered in the Republic of Lithuania, which have entered into cooperation agreements with the Company, and is seeking to transfer its rights and obligations under the insurance contracts in accordance with the obligation of the Bank of Lithuania.


          2021/22 GOOD CORPORATE GOVERNANCE INDEX       


          2020/21 GOOD CORPORATE GOVERNANCE INDEX       

Sk – Transparency dimension
KO – Board dimension
SP – Strategic planning and target achievement dimension
GI – Good governance ratio

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 621 528 412 263
Cost of goods sold 249 162 -1,988 -222
Gross profit (loss) 372 366 2,400 485
Gross profit margin 60% 69% 583% 184%
Operating expenses 771 771 817 806
Operating profit (loss) -399 -405 1,583 -321
Operating profit margin -64% -77% 384% -122%
EBITDA -377 -273 1,598 -306
EBITDA margin -61% -52% 388% -116%
Net profit (loss) 58 209 1,733 25
Net profit margin 9% 40% 421% 9%
2019-06 2020-06 2021-06 2022-06
Revenue 256 308 151 136
Cost of goods sold -217 -81 -248 -428
Gross profit (loss) 473 389 399 563
Gross profit margin % % % %
Operating expenses 370 408 353 335
Operating profit (loss) 103 -19 45 228
Operating profit margin % % % %
EBITDA 109 -12 52 3,029
EBITDA margin 43% -4% 35% 2234%
Net profit (loss) 184 165 219 3,082
Net profit margin 72% 54% 145% 2273%

Balance sheet

2018 2019 2020 2021
Non-current assets 14,337 10,932 674 482
Intangible assets 0 0 1 1
Tangible assets 1,894 1,423 641 448
Financial assets 12,443 9,508 33 34
Other non-current assets
Current assets 1,800 2,507 13,456 10,706
Inventories and prepaid expenses 3 1 328 419
Accounts receivable in one year 87 67 8,811 8,386
Other current assets
Cash and cash equivalents 1,709 2,439 4,316 1,902
Total assets 16,141 13,442 14,132 19,722
Equity 3,654 3,863 5,597 5,621
Grants and subsidies
Liabilities 12,475 9,567 8,524 3,090
Financial liabilities 6,372 4,372 4,372
Long-term liabilities 2,666 6,912 4,372
Short-term liabilities 6,973 226 2,153 1,777
Equity and liabilities 16,141 13,442 14,132 19,722
2020-06 2021-06 2022-06
Non-current assets 9,528 617 472
Intangible assets 0 1 1
Tangible assets 1,032 584 437
Financial assets 8,496 33 34
Other non-current assets
Current assets 3,378 13,171 10,404
Inventories and prepaid expenses 2 329 93
Accounts receivable in one year 60 8,218 87
Other current assets
Cash and cash equivalents 3,315 4,624 10,224
Total assets 12,909 13,793 10,881
Equity 3,886 5,816 8,703
Grants and subsidies
Liabilities 9,012 7,973 2,178
Financial liabilities 4,372 4,372
Long-term liabilities 6,612 4,372
Short-term liabilities 290 2,014 1,253
Equity and liabilities 12,909 13,793 10,881

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 0% 1% 13% 0%
Return on equity (ROE) 2% 6% 37% 0%
Return on capital employed (ROCE) -9% -4% 26% -4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 1.74 1.13 0.78
Current Ratio 0.26 11.10 6.25 6.02
Quick ratio 0.26 11.09 6.10 5.79
Turnover ratios
Asset turnover 0.04 0.04 0.03 0.02
Fixed asset turnover 0.04 0.04 0.07 0.46
Equity turnover 0.17 0.14 0.09 0.05
Profitability ratios
EBITDA margin -61% -52% 388% -116%
Operating profit margin -64% -77% 384% -122%
Net profit margin 9% 40% 421% 9%
Other ratios
Dividends to the State
Dividends paid / net profit
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 1% % 11% 23%
Return on equity (ROE) 6% % 32% 40%
Return on capital employed (ROCE) -4% -0% 1% 63%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 1.13 0.75
Current Ratio 11.10 11.66 6.54 8.30
Quick ratio 11.09 11.65 6.38 8.23
Turnover ratios
Asset turnover 0.04 0.05 0.01 0.01
Fixed asset turnover 0.04 0.06 0.03 0.25
Equity turnover 0.14 0.16 0.03 0.02
Profitability ratios
EBITDA margin -52% -4% 35% 2234%
Operating profit margin -77% % % %
Net profit margin 40% 54% 145% 2273%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity undefined

About the company

  • Official nameUAB „Būsto paskolų draudimas“
  • Legal formPrivate limited liability company (UAB)
  • Company code110076079
  • SectorOther
  • Line of businessMortgage insurance
  • Institution representing the StateMinistry of Finance
  • Share belonging to the State100%
http://www.bpd.lt/
ROE

39.8%

Number of employees

12

Financial data provided as at end-December 2021

Management

  • Egidijus VeličkaDirector General

Information as of: 2023/01/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Žana KraučenkienėUAB Oregon Baltic; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Darius IndriūnasIndependent member
  • Audrutė DziskienėMinistry of Finance
  • Lolita ŠumskaitėMinistry of Finance
  • Šarūnas NedzinskasUAB Bendras finansavimas; Independent member

Information as of: 2023/01/01