ILTE
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% |
2020-06 | 2021-06 | 2022-06 | 2023-06 | |
---|---|---|---|---|
Revenue | 2,238 | 2,878 | 3,486 | 8,668 |
Cost of goods sold | 0 | 0 | 0 | 0 |
Gross profit (loss) | 2,238 | 2,878 | 3,486 | 8,668 |
Gross profit margin | 100% | 100% | 100% | 100% |
Operating expenses | 1,748 | 2,392 | 2,968 | 7,283 |
Operating profit (loss) | 273 | 901 | 521 | 3,947 |
Operating profit margin | 12% | 31% | 15% | 46% |
EBITDA | 365 | 1,003 | 658 | 4,406 |
EBITDA margin | 16% | 35% | 19% | 51% |
Net profit (loss) | 257 | 780 | 454 | 3,574 |
Net profit margin | 11% | 27% | 13% | 41% |
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 |
2020-06 | 2021-06 | 2022-06 | 2023-06 | |
---|---|---|---|---|
Non-current assets | 10,719 | 7,999 | 11,973 | 50,799 |
Intangible assets | 20 | 10 | 21 | 7,584 |
Tangible assets | 781 | 640 | 622 | 1,076 |
Financial assets | 9,629 | 7,139 | 11,111 | 22,534 |
Other non-current assets | 289 | 209 | 219 | 19,605 |
Current assets | 12,781 | 14,958 | 16,797 | 47,233 |
Inventories and prepaid expenses | 0 | 0 | 0 | |
Accounts receivable in one year | 5,989 | 7,876 | 12,527 | 14,597 |
Other current assets | 3,837 | 2,685 | 3,216 | 22,635 |
Cash and cash equivalents | 2,955 | 4,398 | 1,054 | 10,001 |
Total assets | 23,500 | 22,957 | 28,770 | 98,032 |
Equity | 11,960 | 12,555 | 12,473 | 56,863 |
Grants and subsidies | 19 | 0 | 28 | |
Liabilities | 4,399 | 2,882 | 1,197 | 2,883 |
Financial liabilities | 0 | 538 | 577 | 481 |
Long-term liabilities | 1,251 | 555 | 540 | 379 |
Short-term liabilities | 3,148 | 2,327 | 658 | 2,503 |
Equity and liabilities | 23,500 | 22,957 | 28,770 | 98,032 |
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 |
2020-06 | 2021-06 | 2022-06 | 2023-06 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 2% | 4% | 2% | 6% |
Return on equity (ROE) | 4% | 7% | 4% | 11% |
Return on capital employed (ROCE) | 2% | 7% | 4% | 7% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.00 | 0.02 | 0.02 | 0.00 |
Current Ratio | 4.06 | 6.43 | 25.54 | 18.87 |
Quick ratio | 4.06 | 6.43 | 25.54 | 18.87 |
Turnover ratios | ||||
Asset turnover | 0.10 | 0.13 | 0.12 | 0.09 |
Fixed asset turnover | 0.21 | 0.36 | 0.29 | 0.17 |
Equity turnover | 0.19 | 0.23 | 0.28 | 0.15 |
Profitability ratios | ||||
EBITDA margin | 16% | 35% | 19% | 51% |
Operating profit margin | 12% | 31% | 15% | 46% |
Net profit margin | 11% | 27% | 13% | 41% |
Other ratios | ||||
Dividends to the State | ||||
Dividends paid / net profit |
Financial statments
Expectations of the state
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%
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: 2024/10/01
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: 2024/10/01
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: 2024/10/01