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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

“Detonas” was registered as a public limited company in 1994 after the reorganization of VF Granitas. Currently, the company has three divisions (Kaunas, Pakruojis and Naujoji Akmenė), which perform drilling and blasting works throughout Lithuania.

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 3,232 3,401 2,141 2,834
Cost of goods sold 1,978 2,056 1,539 1,695
Gross profit (loss) 1,254 1,345 602 1,139
Gross profit margin 39% 40% 28% 40%
Operating expenses 633 705 569 842
Operating profit (loss) 621 640 33 296
Operating profit margin 19% 19% 2% 10%
EBITDA 875 865 297 556
EBITDA margin 27% 25% 14% 20%
Net profit (loss) 593 624 84 363
Net profit margin 18% 18% 4% 13%
2018-06 2019-06 2020-06 2021-06
Revenue 1,268 959 972 1,249
Cost of goods sold 851 756 661 915
Gross profit (loss) 416 203 311 334
Gross profit margin % % 21% 27%
Operating expenses 333 381 273 278
Operating profit (loss) 83 -178 38 56
Operating profit margin % % -19% 4%
EBITDA -62 248
EBITDA margin % % -7% 20%
Net profit (loss) 96 -162 56 113
Net profit margin % % -17% 9%

* Left axis

** Right axis

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

Balance sheet

2017 2018 2019 2020
Non-current assets 2,786 2,917 3,211 3,293
Intangible assets 8 9 13 11
Tangible assets 2,659 2,886 3,184 3,252
Financial assets 101
Other non-current assets 18 23 14 31
Current assets 1,508 1,087 676 1,026
Inventories and prepaid expenses 147 266 224 124
Accounts receivable in one year 384 334 247 294
Other current assets 101
Cash and cash equivalents 876 487 205 608
Total assets 4,342 4,015 3,898 4,358
Equity 4,032 3,742 3,276 3,499
Grants and subsidies
Liabilities 310 272 622 859
Financial liabilities 245 511
Long-term liabilities 8 197 395
Short-term liabilities 310 251 425 464
Equity and liabilities 4,342 4,015 3,898 4,358
2019-06 2020-06 2021-06
Non-current assets 2,946 3,173 3,214
Intangible assets 10 10 8
Tangible assets 2,912 3,149 3,182
Financial assets
Other non-current assets 24 14 24
Current assets 1,101 866 1,013
Inventories and prepaid expenses 110 275 183
Accounts receivable in one year 810 339 328
Other current assets
Cash and cash equivalents 181 252 502
Total assets 4,066 4,066 4,236
Equity 3,030 3,192 3,366
Grants and subsidies
Liabilities 1,036 874 870
Financial liabilities 275 240 415
Long-term liabilities 275 253 430
Short-term liabilities 30 67
Equity and liabilities 4,066 4,066 4,236

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

Financial ratios

2017 2018 2019 2020
Capital return ratios
Return on assets (ROA) 14% 15% 2% 9%
Return on equity (ROE) 15% 16% 2% 11%
Return on capital employed (ROCE) 34% 35% 6% 18%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.07 0.15
Current Ratio 4.86 4.34 1.59 2.21
Quick ratio 4.39 3.28 1.06 1.94
Turnover ratios
Asset turnover 0.79 0.81 0.54 0.69
Fixed asset turnover 1.28 1.19 0.70 0.87
Equity turnover 0.84 0.87 0.61 0.84
Profitability ratios
EBITDA margin 27% 25% 14% 20%
Operating profit margin 19% 19% 2% 10%
Net profit margin 18% 18% 4% 13%
Other ratios
Dividends to the State 413.10 550.40 140.10 246.70
Dividends paid / net profit 0.70 0.88 1.66 0.68

* Left axis

** Right axis

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

2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) 14% % % 10%
Return on equity (ROE) 15% % % 13%
Return on capital employed (ROCE) 34% -5% -8% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.08 0.14
Current Ratio 4.86 28.86 15.16
Quick ratio 4.39 19.71 12.42
Turnover ratios
Asset turnover 0.79 0.47 0.24 0.30
Fixed asset turnover 1.28 0.65 0.32 0.39
Equity turnover 0.84 0.63 0.31 0.38
Profitability ratios
EBITDA margin 27% % -7% 20%
Operating profit margin 19% % -19% 4%
Net profit margin 18% % -17% 9%
Other ratios
Dividends to the State 413.10
Dividends paid / net profit 0.70

Financial statments

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

Target return on equity

6.3%

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

247 EUR thousand

ROE

10.7%

Number of employees

50

Financial data provided as at end-December 2020

Management

  • Vaidas ZubavičiusDirector General

Information as of: 2021/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Mantas ŠukevičiusUAB Victory Funds; MB Buteo Invest; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Liutauras ŠlajusMinistry of Transport and Communications
  • Arvydas DarulisAB Vilniaus šilumos tinklai; Independent member

Information as of: 2021/10/01