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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

2016 2017 2018 2019
Revenue 2,370 3,232 3,401 2,141
Cost of goods sold 1,630 1,978 2,056 1,539
Gross profit (loss) 740 1,254 1,345 602
Gross profit margin 31% 39% 40% 28%
Operating expenses 439 633 705 569
Operating profit (loss) 301 621 640 33
Operating profit margin 13% 19% 19% 2%
EBITDA 571 875 865 297
EBITDA margin 24% 27% 25% 14%
Net profit (loss) 312 593 624 84
Net profit margin 13% 18% 18% 4%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 1,259 1,268 959 972
Cost of goods sold 832 851 756 661
Gross profit (loss) 428 416 203 311
Gross profit margin 34% 33% 21% 32%
Operating expenses 321 333 381 273
Operating profit (loss) 107 83 -178 38
Operating profit margin 8% 7% -19% 4%
EBITDA 253 194 -62 160
EBITDA margin 20% 15% -7% 16%
Net profit (loss) 22 15 -162 56
Net profit margin 11% 6% -17% 6%

* Left axis

** Right axis

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

Balance sheet

2016 2017 2018 2019
Non-current assets 2,281 2,786 2,917 3,211
Intangible assets 11 8 9 13
Tangible assets 2,270 2,659 2,886 3,184
Financial assets 101
Other non-current assets 18 23 14
Biological assets
Current assets 1,559 1,508 1,087 676
Inventories and prepaid expenses 188 147 266 224
Accounts receivable in one year 417 384 334 247
Other current assets 202 101
Cash and cash equivalents 752 876 487 205
Total assets 3,881 4,342 4,015 3,898
Equity 3,654 4,032 3,742 3,276
Minority share of capital
Grants and subsidies
Liabilities 226 310 272 622
Financial liabilities 245
Long-term liabilities 8 197
Short-term liabilities 226 310 251 421
Equity and liabilities 3,880 4,342 4,015 3,898
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 2,301 2,870 2,946 3,173
Intangible assets 10 11 10 10
Tangible assets 2,291 2,758 2,912 3,149
Financial assets 101
Other non-current assets 24 14
Biological assets
Current assets 1,844 1,598 1,101 866
Inventories and prepaid expenses 235 197 110 275
Accounts receivable in one year 787 806 810 339
Other current assets 202 101
Cash and cash equivalents 619 494 181 252
Total assets 4,145 4,467 4,066 4,066
Equity 3,579 3,697 3,030 3,192
Minority share of capital
Grants and subsidies
Liabilities 566 771 1,036 874
Financial liabilities 275 270
Long-term liabilities 275 253
Short-term liabilities 566 771 746 618
Equity and liabilities 4,145 4,467 4,066 4,066

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

Financial ratios

2016 2017 2018 2019
Capital return ratios
Return on assets (ROA) 8% 14% 15% 2%
Return on equity (ROE) 9% 15% 16% 2%
Return on capital employed (ROCE) 20% 34% 35% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.07
Current Ratio 6.89 4.86 4.34 1.61
Quick ratio 6.06 4.39 3.28 1.07
Turnover ratios
Asset turnover 0.62 0.79 0.81 0.54
Fixed asset turnover 0.99 1.28 1.19 0.70
Equity turnover 0.65 0.84 0.87 0.61
Profitability ratios
EBITDA margin 24% 27% 25% 14%
Operating profit margin 13% 19% 19% 2%
Net profit margin 13% 18% 18% 4%
Other ratios
Dividends to the State 230.50 413.10 550.40 140.10
Dividends paid / net profit 0.74 0.70 0.88 1.66

* Left axis

** Right axis

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

2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) 14% 12% 9% 7%
Return on equity (ROE) 15% 15% 11% 10%
Return on capital employed (ROCE) 34% 5% -10% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.09 0.08
Current Ratio 4.86 2.07 1.48 1.40
Quick ratio 4.39 1.82 1.33 0.96
Turnover ratios
Asset turnover 0.79 0.29 0.22 0.24
Fixed asset turnover 1.28 0.49 0.33 0.32
Equity turnover 0.84 0.35 0.29 0.31
Profitability ratios
EBITDA margin 27% 15% -7% 16%
Operating profit margin 19% 7% -19% 4%
Net profit margin 18% 6% -17% 6%
Other ratios
Dividends to the State 413.10
Dividends paid / net profit 0.70

Financial statments

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

140 EUR thousand

ROE

2.4%

Number of employees

57

Financial data provided as at end-December 2019