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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

UAB ILTE (formerly known as UAB ‘Investicijų ir verslo garantijos’) is the only national development institution in Lithuania, offering financing solutions to Lithuanian businesses, and representatives of the public sector, agriculture, and fisheries sectors. ILTE effectively utilizes taxpayers’ money, competently assesses risk, and focuses on projects that contribute to the welfare of the entire country.

The company is entrusted with promoting the sustainable development of the national economy, increasing economic resilience, and improving access to financing, either directly or in cooperation with other financial market participants.

         2023/24 GOOD CORPORATE GOVERNANCE INDEX

           

         2022/23 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

2020 2021 2022 2023
Revenue 4,909 6,050 6,976 18,105
Cost of goods sold
Gross profit (loss) 4,909 6,050 6,976 18,105
Gross profit margin 100% 100% 100% 100%
Operating expenses 4,124 5,182 6,103 15,407
Operating profit (loss) 420 952 959 8,622
Operating profit margin 9% 16% 14% 48%
EBITDA 611 1,184 1,254 9,334
EBITDA margin 12% 20% 18% 52%
Net profit (loss) 360 816 841 7,668
Net profit margin 7% 13% 12% 42%
2021-06 2022-06 2023-06 2024-06
Revenue 2,878 3,486 8,668 15,616
Cost of goods sold 0 0
Gross profit (loss) 2,878 3,486 8,668 15,616
Gross profit margin 100% 100% 100% 100%
Operating expenses 2,392 2,968 7,283 9,815
Operating profit (loss) 901 521 3,947 5,248
Operating profit margin 31% 15% 46% 34%
EBITDA 1,003 658 4,406 5,684
EBITDA margin 35% 19% 51% 36%
Net profit (loss) 780 454 3,574 4,690
Net profit margin 27% 13% 41% 30%

* Left axis

** Right axis

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

Balance sheet

2020 2021 2022 2023
Non-current assets 9,491 6,711 11,137 47,278
Intangible assets 21 18 39 761
Tangible assets 719 747 537 640
Financial assets 8,477 5,684 10,362 20,242
Other non-current assets 274 262 199 25,634
Current assets 24,914 22,219 17,678 43,813
Inventories and prepaid expenses 0 0 0
Accounts receivable in one year 7,468 11,169 11,528 13,661
Other current assets 3,735 4,497 5,474 14,563
Cash and cash equivalents 13,710 6,554 676 15,589
Total assets 34,404 28,930 28,815 91,091
Equity 12,062 12,590 12,861 57,744
Grants and subsidies 10 0 128
Liabilities 11,663 1,847 1,188 2,297
Financial liabilities 616 691 247 0
Long-term liabilities 555 622 354 315
Short-term liabilities 11,108 1,225 834 1,982
Equity and liabilities 34,404 28,930 28,815 91,091
2021-06 2022-06 2023-06 2024-06
Non-current assets 7,999 11,973 50,799 47,574
Intangible assets 10 21 7,584 552
Tangible assets 640 622 1,076 251
Financial assets 7,139 11,111 22,534 21,663
Other non-current assets 209 219 19,605 25,108
Current assets
Inventories and prepaid expenses 0 0 0
Accounts receivable in one year 7,876 12,527 14,597 13,562
Other current assets 2,685 3,216 22,635 23,050
Cash and cash equivalents 4,398 1,054 10,001 163,150
Total assets 22,957 28,770 98,032 247,336
Equity 12,555 12,473 56,863 61,861
Grants and subsidies 0 28 35
Liabilities 2,882 1,197 2,883 10,079
Financial liabilities 538 577 481 0
Long-term liabilities 555 540 379 5,229
Short-term liabilities 2,327 658 2,503 4,850
Equity and liabilities 22,957 28,770 98,032 247,336

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

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) 1% 3% 3% 13%
Return on equity (ROE) 3% 7% 7% 22%
Return on capital employed (ROCE) 3% 7% 7% 15%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02 0.02 0.02 0.01
Current Ratio 2.24 18.14 21.20 22.10
Quick ratio 2.24 18.14 21.20 22.10
Turnover ratios
Asset turnover 0.14 0.21 0.24 0.20
Fixed asset turnover 0.52 0.90 0.63 0.38
Equity turnover 0.41 0.48 0.54 0.31
Profitability ratios
EBITDA margin 12% 20% 18% 52%
Operating profit margin 9% 16% 14% 48%
Net profit margin 7% 13% 12% 42%
Other ratios
Dividends to the State 287.66 570.89 631.00 573.20
Dividends paid / net profit 0.80 0.70 0.75 0.07

* Left axis

** Right axis

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

2021-06 2022-06 2023-06 2024-06
Capital return ratios
Return on assets (ROA) 4% 2% 6% 5%
Return on equity (ROE) 7% 4% 11% 15%
Return on capital employed (ROCE) 7% 4% 7% 8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02 0.02 0.00 0.00
Current Ratio 6.43 25.54 18.87 41.19
Quick ratio 6.43 25.54 18.87 41.19
Turnover ratios
Asset turnover 0.13 0.12 0.09 0.06
Fixed asset turnover 0.36 0.29 0.17 0.33
Equity turnover 0.23 0.28 0.15 0.25
Profitability ratios
EBITDA margin 35% 19% 51% 36%
Operating profit margin 31% 15% 46% 34%
Net profit margin 27% 13% 41% 30%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

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 m. 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. metinės 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. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos
2011 m. metinės ataskaitos
2010 m. metinės ataskaitos

Expectations of the state

Key performance indicator
Letter of Expectations

About the company

  • Official nameUAB ILTE
  • Legal formPrivate limited liability company (UAB)
  • Company code110084026
  • SectorOther
  • Line of businessFinancing solutions for Lithuania's small and medium-sized businesses, the public sector, and agriculture
  • Institution representing the StateMinistry of Finance
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
https://www.ilte.lt/
Return to the State

573 EUR thousand

ROE

21.7%

Number of employees

259

Financial data provided as at end-December 2023

Management

  • Dainius VilčinskasChief Executive Officer

Information as of: 2024/11/04

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Dainius VilčinskasUAB ILTE

MEMBERS OF THE BOARD OF DIRECTORS

  • Inga BeiliūnienėUAB ILTE
  • Lina StragauskienėUAB ILTE
  • Jonas KanapeckasUAB ILTE
  • Giedrė GečiauskienėUAB ILTE; UAB Būsto paskolų draudimas

Information as of: 2024/11/04

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Daina KleponėIndependent member; Vilnius Gediminas Technical University

SUPERVISORY BOARD MEMBERS

  • Aivaras ČičelisIndependent member; BMI Executive Institute, VšĮ; UAB Švaros broliai; PRO BRO Car Wash Systems, UAB; PRO BRO Group, UAB; AB HISK
  • Povilas KriaučeliūnasMinistry of the Economy and Innovation
  • Pascal LagardeIndependent member; Bifrance
  • Aurimas SaladžiusMinistry of Environment
  • Irma PatapienėMinistry of Finance

Information as of: 2024/11/04

VMU
ltg
RC
LP
TB
IGN
KN
IAE
EPSO