Detonas

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.
KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024
- Average annual EBITDA:
- 2022–2024 ≥ 0,5 ml. Eur
- Annual ratio of financial debt to equity:
- 2022–2024 limit 0,1–0,3 times
- 2022–2024 limit 0,1–0,3 times
TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025
- Income from other activities (trade in explosives), thousand euros:
- 2023 – 239,4
- 2024 – 257,0
- 2025 – 277,0
- Blasting of rocks, thousand cubic meters:
- 2023-2025 – 1684
- Ensuring the proper functioning and supervision of quality, environmental, occupational safety and health management: Number of significant non-conformities:
- 2023-2025 – 0
- Reduction of the use of energy resources, %:
- 2023-2025 – every year 15-20 percentage.
- Good Governance Index:
- 2023-2025 – A+
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
2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|
Revenue | 2,141 | 2,834 | 3,105 | 3,889 |
Cost of goods sold | 1,539 | 1,695 | 2,320 | 3,247 |
Gross profit (loss) | 602 | 1,139 | 785 | 642 |
Gross profit margin | 28% | 40% | 25% | 17% |
Operating expenses | 567 | 841 | 616 | 716 |
Operating profit (loss) | 33 | 296 | 169 | -75 |
Operating profit margin | 2% | 10% | 5% | -2% |
EBITDA | 297 | 556 | 589 | 965 |
EBITDA margin | 14% | 20% | 19% | 25% |
Net profit (loss) | 84 | 363 | 278 | 611 |
Net profit margin | 4% | 13% | 9% | 16% |
2019-06 | 2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|---|
Revenue | 959 | 972 | 1,249 | 1,337 |
Cost of goods sold | 756 | 661 | 915 | 1,268 |
Gross profit (loss) | 203 | 311 | 334 | 69 |
Gross profit margin | % | % | % | % |
Operating expenses | 381 | 273 | 278 | 286 |
Operating profit (loss) | -178 | 38 | 56 | -217 |
Operating profit margin | % | % | % | % |
EBITDA | -62 | 160 | 248 | 83 |
EBITDA margin | -7% | 16% | 20% | 6% |
Net profit (loss) | -162 | 56 | 113 | -60 |
Net profit margin | -17% | 6% | 9% | -4% |
Balance sheet
2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|
Non-current assets | 3,211 | 3,293 | 3,361 | 3,537 |
Intangible assets | 13 | 11 | 14 | 10 |
Tangible assets | 3,184 | 3,252 | 3,315 | 3,490 |
Financial assets | 0 | |||
Other non-current assets | 14 | 31 | 32 | 37 |
Current assets | 676 | 1,026 | 978 | 1,342 |
Inventories and prepaid expenses | 224 | 124 | 243 | 314 |
Accounts receivable in one year | 247 | 294 | 145 | 153 |
Other current assets | 0 | 0 | ||
Cash and cash equivalents | 205 | 608 | 591 | 875 |
Total assets | 3,898 | 4,358 | 4,387 | 4,921 |
Equity | 3,276 | 3,499 | 3,531 | 3,894 |
Grants and subsidies | ||||
Liabilities | 622 | 859 | 857 | 1,027 |
Financial liabilities | 245 | 511 | 493 | 617 |
Long-term liabilities | 197 | 395 | 366 | 416 |
Short-term liabilities | 425 | 464 | 491 | 611 |
Equity and liabilities | 3,898 | 4,358 | 4,387 | 4,921 |
2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|
Non-current assets | 3,173 | 3,214 | 3,216 |
Intangible assets | 10 | 8 | 12 |
Tangible assets | 3,149 | 3,182 | 3,173 |
Financial assets | |||
Other non-current assets | 14 | 24 | 32 |
Current assets | 866 | 1,013 | 944 |
Inventories and prepaid expenses | 275 | 183 | 463 |
Accounts receivable in one year | 339 | 328 | 428 |
Other current assets | |||
Cash and cash equivalents | 252 | 502 | 53 |
Total assets | 4,066 | 4,236 | 4,170 |
Equity | 3,192 | 3,366 | 3,224 |
Grants and subsidies | |||
Liabilities | 874 | 870 | 946 |
Financial liabilities | 270 | 482 | 415 |
Long-term liabilities | 253 | 430 | 343 |
Short-term liabilities | 618 | 440 | 603 |
Equity and liabilities | 4,066 | 4,236 | 4,170 |
Financial ratios
2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 2% | 9% | 6% | 13% |
Return on equity (ROE) | 2% | 11% | 8% | 16% |
Return on capital employed (ROCE) | 1% | 8% | 4% | -2% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.06 | 0.12 | 0.11 | 0.13 |
Current Ratio | 1.59 | 2.21 | 1.99 | 2.19 |
Quick ratio | 1.06 | 1.94 | 1.50 | 1.68 |
Turnover ratios | ||||
Asset turnover | 0.55 | 0.65 | 0.71 | 0.79 |
Fixed asset turnover | 0.67 | 0.86 | 0.92 | 1.10 |
Equity turnover | 0.65 | 0.81 | 0.88 | 1.00 |
Profitability ratios | ||||
EBITDA margin | 14% | 20% | 19% | 25% |
Operating profit margin | 2% | 10% | 5% | -2% |
Net profit margin | 4% | 13% | 9% | 16% |
Other ratios | ||||
Dividends to the State | 140.10 | 246.70 | 247.30 | 402.50 |
Dividends paid / net profit | 1.66 | 0.68 | 0.89 | 0.66 |
2019-06 | 2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 2% | % | 10% | 3% |
Return on equity (ROE) | 2% | % | 12% | 3% |
Return on capital employed (ROCE) | 6% | 4% | 7% | -3% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.07 | 0.14 | 0.14 | 0.13 |
Current Ratio | 1.59 | 1.40 | 2.30 | 1.57 |
Quick ratio | 1.06 | 0.96 | 1.88 | 0.80 |
Turnover ratios | ||||
Asset turnover | 0.54 | 0.48 | 0.30 | 0.32 |
Fixed asset turnover | 0.70 | 0.61 | 0.39 | 0.42 |
Equity turnover | 0.61 | 0.61 | 0.38 | 0.41 |
Profitability ratios | ||||
EBITDA margin | 14% | 16% | 20% | 6% |
Operating profit margin | 2% | % | % | % |
Net profit margin | 4% | 6% | 9% | -4% |
Other ratios | ||||
Dividends to the State | 140.10 | |||
Dividends paid / net profit | 1.66 |
Financial statments
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
Expectations of the state
Target return on equity undefined
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%
Return to the State
402 EUR thousand
ROE
16.4%
Number of employees
46
Financial data provided as at end-December 2022
Management
- Vaidas ZubavičiusChief Executive Officer
Information as of: 2023/09/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Mantas ŠukevičiusUAB Victory Funds; MB Buteo Invest; Independent member
MEMBERS OF THE BOARD OF DIRECTORS
- Evaldas MargisUAB Baltic Mink Corporation; UAB Nordic Metrology Science; Independent member
- Ramunė MikalauskienėMinistry of Transport and Communications
Information as of: 2023/09/01