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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

The drilling and blasting company was founded in 1959 and registered as AB Detonas in 1994.
The company’s main activity is the manufacture and trade of explosives and blasting works.

       2023/24 GOOD CORPORATE GOVERNANCE INDEX

      

       2022/23 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

2020 2021 2022 2023
Revenue 2,834 3,105 3,889 3,860
Cost of goods sold 1,695 2,320 3,247 2,590
Gross profit (loss) 1,139 785 642 1,270
Gross profit margin 40% 25% 17% 33%
Operating expenses 841 616 716 784
Operating profit (loss) 296 169 -75 485
Operating profit margin 10% 5% -2% 13%
EBITDA 556 589 965 849
EBITDA margin 20% 19% 25% 22%
Net profit (loss) 363 278 611 527
Net profit margin 13% 9% 16% 14%
2021-06 2022-06 2023-06 2024-06
Revenue 1,249 1,337 1,598 1,781
Cost of goods sold 915 1,268 1,157 1,328
Gross profit (loss) 334 69 441 453
Gross profit margin 27% 5% 28% 25%
Operating expenses 278 286 394 403
Operating profit (loss) 56 -217 46 49
Operating profit margin 4% -16% 3% 3%
EBITDA 248 83 219 236
EBITDA margin 20% 6% 14% 13%
Net profit (loss) 113 -60 81 89
Net profit margin 9% -4% 5% 5%

* Left axis

** Right axis

*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

2020 2021 2022 2023
Non-current assets 3,293 3,361 3,537 3,781
Intangible assets 11 14 10 11
Tangible assets 3,252 3,315 3,490 3,730
Financial assets
Other non-current assets 31 32 37 41
Current assets 1,026 978 1,342 1,335
Inventories and prepaid expenses 124 243 311 255
Accounts receivable in one year 294 145 157 132
Other current assets 0
Cash and cash equivalents 608 591 875 948
Total assets 4,358 4,387 4,921 5,178
Equity 3,499 3,531 3,894 4,018
Grants and subsidies
Liabilities 859 857 1,027 1,160
Financial liabilities 511 493 617 742
Long-term liabilities 395 366 416 493
Short-term liabilities 464 491 611 667
Equity and liabilities 4,358 4,387 4,921 5,178
2021-06 2022-06 2023-06 2024-06
Non-current assets 3,214 3,216 3,417 3,755
Intangible assets 8 12 9 11
Tangible assets 3,182 3,173 3,371 3,704
Financial assets 0 0 41
Other non-current assets 24 32 37 0
Current assets 9 10 11 9
Inventories and prepaid expenses 183 463 325 219
Accounts receivable in one year 328 428 393 521
Other current assets 0 0
Cash and cash equivalents 502 53 518 493
Total assets 4,236 4,170 4,664 4,997
Equity 3,366 3,224 3,573 3,685
Grants and subsidies 0 0 0
Liabilities 870 946 1,092 1,303
Financial liabilities 482 415 503 536
Long-term liabilities 430 343 416 493
Short-term liabilities 440 603 676 810
Equity and liabilities 4,236 4,170 4,664 4,997

* All data in Balance Sheet table and corresponding chart is in EUR thousand, unless otherwise noted

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) 9% 6% 13% 10%
Return on equity (ROE) 11% 8% 16% 13%
Return on capital employed (ROCE) 8% 4% -2% 11%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.12 0.11 0.13 0.14
Current Ratio 2.21 1.99 2.19 2.00
Quick ratio 1.94 1.50 1.69 1.62
Turnover ratios
Asset turnover 0.65 0.71 0.79 0.75
Fixed asset turnover 0.86 0.92 1.10 1.02
Equity turnover 0.81 0.88 1.00 0.96
Profitability ratios
EBITDA margin 20% 19% 25% 22%
Operating profit margin 10% 5% -2% 13%
Net profit margin 13% 9% 16% 14%
Other ratios
Dividends to the State 246.70 247.30 402.50 422.00
Dividends paid / net profit 0.68 0.89 0.66 0.80

* Left axis

** Right axis

*** Dividends to the state in Financial Ratios table is in EUR thousand

2021-06 2022-06 2023-06 2024-06
Capital return ratios
Return on assets (ROA) 10% 3% 17% 11%
Return on equity (ROE) 13% 3% 22% 15%
Return on capital employed (ROCE) 1% -6% 1% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.11 0.10 0.11 0.12
Current Ratio 2.30 1.57 1.83 1.52
Quick ratio 1.88 0.80 1.35 1.25
Turnover ratios
Asset turnover 0.29 0.32 0.34 0.36
Fixed asset turnover 0.39 0.42 0.47 0.47
Equity turnover 0.37 0.41 0.45 0.48
Profitability ratios
EBITDA margin 20% 6% 14% 13%
Operating profit margin 4% -16% 3% 3%
Net profit margin 9% -4% 5% 5%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2023 m. 6 mėn. tarpinės ataskaitos 2023 m. metinės ataskaitos
2022 m. 6 mėn. tarpinės ataskaitos 2022 m. metinės ataskaitos
2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos
2020 m. 6 mėn. tarpinės ataskaitos 2020 m. metinės ataskaitos
2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos
2018 m. metininės ataskaitos 2018 m. 6 mėn. tarpinės ataskaitos
2017 m. 6 mėn. tarpinės ataskaitos 2017 m. metinės ataskaitos
2016 m. metinės ataskaitos 2016 m. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės ataskaitos
2015 m. 12 mėn. tarpinės ataskaitos 2015 m. 9 mėn. tarpinės ataskaitos 2015 m. 6 mėn. tarpinės ataskaitos 2015 m. 3 mėn. tarpinės ataskaitos
2014 m. metinės ataskaitos 2014 m. 12 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos
2011 m. metinės ataskaitos
2010 m. metinės ataskaitos

Expectations of the state

Key performance indicator
Letter of Expectations

About the company

  • Official nameAB „Detonas“
  • Legal formPublic limited liability company (AB)
  • Company code134170932
  • SectorOther
  • Line of businessDemolition works
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.detonas.eu/
Return to the State

422 EUR thousand

ROE

13.3%

Number of employees

44

Financial data provided as at end-December 2023

Management

  • Vaidas ZubavičiusChief Executive Officer

Information as of: 2024/11/04

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Mantas ŠukevičiusIndependent member; UAB Demus asset management; MB Buteo Invest; JSCB “Biznesni rivojlantirish banki”; AB Oro navigacija; AB KN Energies

MEMBERS OF THE BOARD OF DIRECTORS

  • Evaldas MargisIndependent member; Valstybinio socialinio draudimo fondas
  • Ramunė MikalauskienėMinistry of Transport and Communications

Information as of: 2024/11/04

VMU
ltg
RC
LP
TB
IGN
KN
IAE
EPSO