Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB GIRAITĖS GINKLUOTĖS GAMYKLA (GGG) is a manufacturer of military and civilian ammunition. The company has advanced technologies, manufacturing facilities and a quality management system. GGG participates in tenders issued by the NATO Support and Procurement Agency (NSPA). 95% of the company’s production is exported to more than 30 countries.

          2024/25 GOOD CORPORATE GOVERNANCE INDEX

Giraites_ginkl_2025

SK – Transparency Dimension
SV – Strategic Management Dimension
TV – Sustainability Dimension
AV – Shareholder Actions Dimension
GI – Good Governance Indicator

Financial results

P/L Statment

2022 2023 2024 2025
Revenue 15,241 22,458 22,959 28,409
Cost of goods sold 10,925 16,288 17,234 22,030
Gross profit (loss) 4,317 6,170 5,725 6,379
Gross profit margin 28% 27% 25% 22%
Operating expenses 1,658 1,788 1,903 2,464
Operating profit (loss) 2,580 4,288 3,722 3,761
Operating profit margin 17% 19% 16% 13%
EBITDA 3,438 5,169 4,724 5,214
EBITDA margin 23% 23% 21% 18%
Net profit (loss) 2,339 3,396 3,002 3,582
Net profit margin 15% 15% 13% 13%
2022-06 2023-06 2024-06 2025-06
Revenue 9,033 11,789 12,283 15,047
Cost of goods sold 6,200 8,249 9,306 11,442
Gross profit (loss) 2,833 3,540 2,977 3,605
Gross profit margin 31% 30% 24% 24%
Operating expenses 666 767 803 1,026
Operating profit (loss) 2,112 2,715 2,108 2,507
Operating profit margin 23% 23% 17% 17%
EBITDA 2,538 3,187 2,638 3,092
EBITDA margin 28% 27% 21% 21%
Net profit (loss) 1,747 2,241 1,770 2,134
Net profit margin 19% 19% 14% 14%

* Left axis

** Right axis

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

Balance sheet

2022 2023 2024 2025
Non-current assets 14,011 13,292 12,674 22,519
Intangible assets 4 1 0 1
Tangible assets 14,007 13,290 12,674 20,996
Financial assets 0 1,522
Other non-current assets 14,011 13,292 12,674 22,519
Current assets 9,216 13,123 27,330 44,738
Inventories and prepaid expenses 8,746 10,868 14,101 14,026
Accounts receivable in one year 111 52 2 300
Other current assets 0 4,000 2,000
Cash and cash equivalents 360 2,203 9,227 28,412
Total assets 23,251 26,446 40,074 67,382
Equity 12,183 14,527 28,171 54,942
Grants and subsidies 127
Liabilities 11,059 11,917 11,904 12,313
Financial liabilities 8,649 8,145 8,117 8,081
Long-term liabilities 8,086 7,586 7,661 6,731
Short-term liabilities 2,973 4,331 4,243 5,583
Equity and liabilities 23,251 26,446 40,074 67,382
2022-06 2023-06 2024-06 2025-06
Non-current assets 12,884 13,662 12,914 15,335
Intangible assets 5 3 0 0
Tangible assets 12,879 13,659 12,914 12,535
Financial assets 0 0 0 2,800
Other non-current assets 0 0 0 0
Current assets 8,916 10,555 13,382 24,533
Inventories and prepaid expenses 5,329 8,753 9,372 13,701
Accounts receivable in one year 30 1,069 1,155 1,588
Other current assets 0 0 0 7,000
Cash and cash equivalents 3,557 733 2,855 2,244
Total assets 21,827 24,231 26,313 39,894
Equity 11,591 13,372 15,780 28,282
Grants and subsidies 0
Liabilities 10,234 10,859 10,531 11,612
Financial liabilities 8,586 8,086 7,886 7,661
Long-term liabilities 8,586 8,086 7,586 7,661
Short-term liabilities 1,648 2,773 2,945 3,951
Equity and liabilities 21,827 24,231 26,313 39,894

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

Financial ratios

2022 2023 2024 2025
Capital return ratios
Return on assets (ROA) 11% 14% 9% 7%
Return on equity (ROE) 21% 25% 14% 9%
Return on capital employed (ROCE) 13% 19% 10% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.37 0.31 0.20 0.12
Current Ratio 3.10 3.03 6.44 8.01
Quick ratio 0.16 0.52 3.12 5.50
Turnover ratios
Asset turnover 0.66 0.85 0.57 0.42
Fixed asset turnover 1.09 1.69 1.81 1.26
Equity turnover 1.25 1.55 0.82 0.52
Profitability ratios
EBITDA margin 23% 23% 21% 18%
Operating profit margin 17% 19% 16% 13%
Net profit margin 15% 15% 13% 13%
Other ratios
Dividends to the State 1,052.20 516.60 2,022.50 2,583.90
Dividends paid / net profit 0.45 0.15 0.67 0.72

* Left axis

** Right axis

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

2022-06 2023-06 2024-06 2025-06
Capital return ratios
Return on assets (ROA) 10% 12% 12% 10%
Return on equity (ROE) 19% 23% 20% 15%
Return on capital employed (ROCE) 10% 13% 9% 7%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.39 0.33 0.30 0.29
Current Ratio 5.41 3.81 4.54 6.21
Quick ratio 2.18 0.65 1.36 2.74
Turnover ratios
Asset turnover 0.41 0.49 0.47 0.38
Fixed asset turnover 0.70 0.86 0.95 0.98
Equity turnover 0.78 0.88 0.78 0.53
Profitability ratios
EBITDA margin 28% 27% 21% 21%
Operating profit margin 23% 23% 17% 17%
Net profit margin 19% 19% 14% 14%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2024 m. 6 mėn. tarpinės ataskaitos 2024 m. metinės ataskaitos
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 n. metinės 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. 6 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos 2012 m. 3 mėn. tarpinės ataskaitos 2012 m. 9 mėn. tarpinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos
2011 m. 6 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 Giraitės ginkluotės gamykla
  • Legal formPublic limited liability company (AB)
  • Company code110080729
  • SectorOther
  • Line of businessProduction of ammo
  • Institution representing the StateMinistry of Finance
  • Share belonging to the State100%
  • Contacts http://www.ggg-ammo.lt/
Return to the State

2.6 EUR milion

ROE

6.7%

Number of employees

121

Financial data provided as at end-December 2024

Management

  • Mindaugas KurauskasChief Executive officer

Term of office expires: 2030/06/16

The information is relevant

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Dangirutis JanušasIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Aldas BeginskasMinistry of Finance
  • Giedrius NomeikaIndependent member
  • Remigijus ŠtarasIndependent member
  • Laima KalinauskienėMinistry of Finance

Term of office expires: 2029/12/23

The information is relevant

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