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.

         2024/25 GOOD CORPORATE GOVERNANCE INDEX

ILTE_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 6,976 18,105 32,934 40,380
Cost of goods sold
Gross profit (loss) 6,976 18,105 32,934 40,380
Gross profit margin 100% 100% 100% 100%
Operating expenses 6,103 15,407 21,149 26,327
Operating profit (loss) 959 8,622 6,007 15,128
Operating profit margin 14% 48% 18% 37%
EBITDA 1,254 9,894 10,324 20,796
EBITDA margin 18% 55% 31% 52%
Net profit (loss) 841 7,668 7,684 14,315
Net profit margin 12% 42% 23% 35%
2022-06 2023-06 2024-06 2025-06
Revenue 3,486 8,668 15,616 18,231
Cost of goods sold 0 0 0
Gross profit (loss) 3,486 8,668 15,616 18,231
Gross profit margin 100% 100% 100% 100%
Operating expenses 2,968 7,283 9,815 12,414
Operating profit (loss) 521 3,947 5,248 6,295
Operating profit margin 15% 46% 34% 35%
EBITDA 658 4,406 6,181 9,206
EBITDA margin 19% 51% 40% 50%
Net profit (loss) 454 3,574 4,690 7,341
Net profit margin 13% 41% 30% 40%

* 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 11,137 47,278 98,857 89,658
Intangible assets 39 761 344 120
Tangible assets 537 640 195 157
Financial assets 10,362 20,242 74,283 52,607
Other non-current assets 11,137 47,278 98,857 89,658
Current assets 17,678 43,813 153,649 222,383
Inventories and prepaid expenses 0 0
Accounts receivable in one year 11,528 13,661 5,428 6,635
Other current assets 5,474 14,563 116,995 207,573
Cash and cash equivalents 676 15,589 31,225 8,175
Total assets 28,815 91,091 252,506 312,041
Equity 12,861 57,744 214,854 273,401
Grants and subsidies 0 128
Liabilities 1,188 2,297 12,201 14,423
Financial liabilities 499 531 0 3,115
Long-term liabilities 354 315 5,221 6,786
Short-term liabilities 834 1,982 6,980 7,638
Equity and liabilities 28,815 91,091 252,506 312,041
2022-06 2023-06 2024-06 2025-06
Non-current assets 11,973 50,799 47,574 66,752
Intangible assets 21 7,584 552 229
Tangible assets 622 1,076 251 176
Financial assets 11,111 22,534 21,663 26,869
Other non-current assets 219 19,605 25,108 39,478
Current assets 16,797 47,233 199,762 187,965
Inventories and prepaid expenses 0 0 0 0
Accounts receivable in one year 12,527 14,597 13,562 13,810
Other current assets 3,216 22,635 23,050 169,220
Cash and cash equivalents 1,054 10,001 163,150 4,935
Total assets 28,770 98,032 247,336 254,717
Equity 12,473 56,863 61,861 216,433
Grants and subsidies 28 35 113
Liabilities 1,197 2,883 10,079 13,025
Financial liabilities 577 481 0 3,270
Long-term liabilities 540 379 5,229 7,283
Short-term liabilities 658 2,503 4,850 5,742
Equity and liabilities 28,770 98,032 247,336 254,717

* 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) 3% 13% 4% 5%
Return on equity (ROE) 7% 22% 6% 6%
Return on capital employed (ROCE) 7% 15% 3% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02 0.01 0.00 0.01
Current Ratio 21.20 22.10 22.01 29.12
Quick ratio 21.20 22.10 22.01 29.12
Turnover ratios
Asset turnover 0.24 0.20 0.13 0.13
Fixed asset turnover 0.63 0.38 0.33 0.45
Equity turnover 0.54 0.31 0.15 0.15
Profitability ratios
EBITDA margin 18% 55% 31% 52%
Operating profit margin 14% 48% 18% 37%
Net profit margin 12% 42% 23% 35%
Other ratios
Dividends to the State 631.00 573.20 5,762.80 0.00
Dividends paid / net profit 0.75 0.07 0.75 0.00

* 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) 2% 6% 5% 4%
Return on equity (ROE) 4% 11% 15% 7%
Return on capital employed (ROCE) 4% 7% 8% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02 0.00 0.00 0.01
Current Ratio 25.54 18.87 41.19 32.73
Quick ratio 25.54 18.87 41.19 32.73
Turnover ratios
Asset turnover 0.12 0.09 0.06 0.07
Fixed asset turnover 0.29 0.17 0.33 0.27
Equity turnover 0.28 0.15 0.25 0.08
Profitability ratios
EBITDA margin 19% 51% 40% 50%
Operating profit margin 15% 46% 34% 35%
Net profit margin 13% 41% 30% 40%
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 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%
  • Contacts https://www.ilte.lt/
ROE

5.1%

Number of employees

375

Financial data provided as at end-December 2024

Management

  • Dainius VilčinskasChief Executive Officer

Term of office expires: 2028/09/11

The information is relevant

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Dainius VilčinskasCEO

MEMBERS OF THE BOARD OF DIRECTORS

  • Tadas GudaitisHead of Business Development Division
  • Lina StragauskienėHead of Finance and Administration
  • Jonas KanapeckasCRCO
  • Giedrė GečiauskienėHead of Customer Financing

Term of office expires: 2027/09/10

The information is relevant

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Thomas Bjorn ÖstrosIndependent member

SUPERVISORY BOARD MEMBERS

  • Aivaras ČičelisIndependent member
  • Povilas KriaučeliūnasMinistry of the Economy and Innovation
  • Pascal LagardeIndependent member
  • Aurimas SaladžiusMinistry of Environment
  • Irma PatapienėMinistry of Finance
  • Eugenijus PreikšaIndependent member
  • Susan Marie GoeranssonIndependent member
  • Daina KleponėIndependent member

Term of office expires: 2027/04/08

The information is relevant

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