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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.

       2022/23 GOOD CORPORATE GOVERNANCE INDEX

      

       2021/22 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%
2020-06 2021-06 2022-06 2023-06
Revenue 972 1,249 1,337 1,598
Cost of goods sold 661 915 1,268 1,157
Gross profit (loss) 311 334 69 441
Gross profit margin 32% 27% 5% 28%
Operating expenses 273 278 286 394
Operating profit (loss) 38 56 -217 46
Operating profit margin 4% 4% -16% 3%
EBITDA 160 248 83 219
EBITDA margin 16% 20% 6% 14%
Net profit (loss) 56 113 -60 81
Net profit margin 6% 9% -4% 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

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 2023-06
Non-current assets 3,173 3,214 3,216 3,417
Intangible assets 10 8 12 9
Tangible assets 3,149 3,182 3,173 3,371
Financial assets 0 0 0
Other non-current assets 14 24 32 37
Current assets 866 1,013 944 1,236
Inventories and prepaid expenses 275 183 463 325
Accounts receivable in one year 339 328 428 393
Other current assets 0 0 0
Cash and cash equivalents 252 502 53 518
Total assets 4,066 4,236 4,170 4,664
Equity 3,192 3,366 3,224 3,573
Grants and subsidies 0 0 0 0
Liabilities 871 870 946 1,092
Financial liabilities 270 482 415 503
Long-term liabilities 253 430 343 416
Short-term liabilities 618 440 603 676
Equity and liabilities 4,066 4,236 4,170 4,664

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

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

* Left axis

** Right axis

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

2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 7% 10% 3% 17%
Return on equity (ROE) 10% 13% 3% 22%
Return on capital employed (ROCE) 1% 1% -6% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.07 0.11 0.10 0.11
Current Ratio 1.40 2.30 1.57 1.83
Quick ratio 0.96 1.88 0.80 1.35
Turnover ratios
Asset turnover 0.24 0.29 0.32 0.34
Fixed asset turnover 0.31 0.39 0.42 0.47
Equity turnover 0.30 0.37 0.41 0.45
Profitability ratios
EBITDA margin 16% 20% 6% 14%
Operating profit margin 4% 4% -16% 3%
Net profit margin 6% 9% -4% 5%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

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

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: 2024/04/02

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

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

MEMBERS OF THE BOARD OF DIRECTORS

  • Evaldas MargisIndependent member
  • Ramunė MikalauskienėMinistry of Transport and Communications

Information as of: 2024/04/02