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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

In 2000 The State Enterprise Giraitės ginkluotės gamyba was officially established and registered. In 2007, it was reorganized into a public limited company. The company’s core of business is the manufacture and sale of the latest and most modern ammunition.

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 6,899 9,408 7,912 9,184
Cost of goods sold 5,149 6,888 6,121 7,104
Gross profit (loss) 1,751 2,520 1,792 2,080
Gross profit margin 25% 27% 23% 23%
Operating expenses 698 809 903 955
Operating profit (loss) 1,053 1,711 889 1,125
Operating profit margin 15% 18% 11% 12%
EBITDA 1,414 2,357 1,228 1,526
EBITDA margin 20% 25% 16% 17%
Net profit (loss) 406 1,175 292 533
Net profit margin 6% 12% 4% 6%
2018-06 2019-06 2020-06 2021-06
Revenue 4,635 3,421 4,115 5,475
Cost of goods sold 3,399 2,591 3,231 3,967
Gross profit (loss) 1,235 830 884 1,508
Gross profit margin % % 24% 28%
Operating expenses 368 422 491 580
Operating profit (loss) 868 409 393 928
Operating profit margin % % 12% 17%
EBITDA 569 1,090
EBITDA margin % % 17% 20%
Net profit (loss) 950 277 257 858
Net profit margin % % 8% 16%

Balance sheet

2017 2018 2019 2020
Non-current assets 13,643 13,075 12,800 12,518
Intangible assets 13 8 7 3
Tangible assets 13,628 13,068 12,793 12,515
Financial assets
Other non-current assets 2
Current assets 6,009 6,824 7,189 7,300
Inventories and prepaid expenses 5,431 4,478 4,417 3,921
Accounts receivable in one year 223 74 346 94
Other current assets
Cash and cash equivalents 355 2,272 2,426 3,285
Total assets 19,671 19,925 20,004 19,833
Equity 7,354 8,530 8,555 8,988
Grants and subsidies
Liabilities 12,316 11,394 11,449 10,845
Financial liabilities 11,786 10,775 10,773 10,260
Long-term liabilities 11,516 10,726 9,936 9,386
Short-term liabilities 800 668 1,513 1,459
Equity and liabilities 19,671 19,925 20,004 19,833
2019-06 2020-06 2021-06
Non-current assets 12,952 12,642 12,456
Intangible assets 10 3 7
Tangible assets 12,942 12,638 12,449
Financial assets
Other non-current assets
Current assets 7,217 7,164 8,337
Inventories and prepaid expenses 5,153 4,507 4,006
Accounts receivable in one year 135 90 181
Other current assets
Cash and cash equivalents 1,929 2,567 4,150
Total assets 20,193 19,833 20,805
Equity 8,540 8,812 9,791
Grants and subsidies
Liabilities 11,653 11,021 11,014
Financial liabilities 10,636 10,286 9,786
Long-term liabilities 10,726 9,936 9,386
Short-term liabilities
Equity and liabilities 20,193 19,833 20,805

Financial ratios

2017 2018 2019 2020
Capital return ratios
Return on assets (ROA) 2% 6% 1% 3%
Return on equity (ROE) 6% 15% 3% 6%
Return on capital employed (ROCE) 11% 20% 10% 12%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 1.60 1.26 1.26 1.14
Current Ratio 7.51 10.21 4.75 5.00
Quick ratio 0.72 3.51 1.83 2.32
Turnover ratios
Asset turnover 0.35 0.48 0.40 0.46
Fixed asset turnover 0.50 0.70 0.61 0.73
Equity turnover 0.96 1.18 0.93 1.05
Profitability ratios
EBITDA margin 20% 25% 16% 17%
Operating profit margin 15% 18% 11% 12%
Net profit margin 6% 12% 4% 6%
Other ratios
Dividends to the State 266.49 100.00 55.50
Dividends paid / net profit 0.23 0.34 0.10
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) 2% % % 6%
Return on equity (ROE) 6% % % 12%
Return on capital employed (ROCE) 11% -2% 4% 9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 1.60 1.17 1.00
Current Ratio 7.51
Quick ratio 0.72
Turnover ratios
Asset turnover 0.35 0.34 0.21 0.27
Fixed asset turnover 0.50 0.53 0.32 0.44
Equity turnover 0.96 0.80 0.47 0.59
Profitability ratios
EBITDA margin 20% % 17% 20%
Operating profit margin 15% % 12% 17%
Net profit margin 6% % 8% 16%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

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%
http://www.ggg-ammo.lt/
Return to the State

56 EUR thousand

ROE

6.1%

Number of employees

91

Financial data provided as at end-December 2020

Management

  • Aleksandras NikonovasDirector General

Information as of: 2021/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vygantas SliesoraitisUAB AL Holdingas; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Laima KalinauskienėMinistry of Finance
  • Remigijus ŠtarasUAB Topo grupė; Independent member
  • Eimundas MačiulisUAB VSA Vilnius; Independent member
  • Asta SinkevičienėMinistry of Finance

Information as of: 2021/10/01