Investicijų ir verslo garantijos

UAB Investicijų ir verslo garantijos (INVEGA) is a national development institution established by the Government of the Republic of Lithuania to help Lithuanian businesses obtain the financing they need. INVEGA uses taxpayers’ money efficiently, assesses risks competently and focuses on business projectsthat create wealth for the whole country: its guarantees help to solve the problem of insufficient or unattractive collateral for financial institutions, administration and direct provision of soft loans, subsidies and venture capital instruments facilitate access to finance.
KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024
- Average annual return on equity ROE:
- 2022–2024 ≥ 0 percent.
- Average dividends for the calendar year:
- 2022–2024 ≥ 75–85 % from distributable profit
- 2022–2024 ≥ 75–85 % from distributable profit
TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025
- Use of funds for measures (excluding guarantees), ml. EUR:
- 2023 – 150,24
- 2024 – 61,44
- 2025 – 52,83
- Raising private funds, ml. EUR:
- 2023 – 204,35
- 2024 – 222,82
- 2025 – 210,34
- Use of funds provided for providing guarantees, ml. EUR:
- 2023 – 150,36
- 2024 – 172,5
- 2025 – 172,5
- Customer satisfaction indicator, points:
- 2023-2025 – 9
- Reduction of electricity consumption, %:
- 2023-2024 – 2 every year
- in 2025 – keep it stable
- The ratio of the costs of the implementation of the measures and the managed funds, percent:
- 2023-2025 every year ≥ 2
- Awareness of services and activities among business enterprises, %:
- 2023-2025 > 80
- Employee involvement,%:
- 2023-2025 – 71
2021/22 GOOD CORPORATE GOVERNANCE INDEX
2020/21 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
2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|
Revenue | 3,461 | 3,658 | 4,909 | 6,050 |
Cost of goods sold | ||||
Gross profit (loss) | 3,461 | 3,658 | 4,909 | 6,050 |
Gross profit margin | 100% | 100% | 100% | 100% |
Operating expenses | 3,168 | 2,349 | 4,489 | 5,098 |
Operating profit (loss) | 293 | 1,308 | 420 | 952 |
Operating profit margin | 8% | 36% | 9% | 16% |
EBITDA | 339 | 1,334 | 611 | 1,184 |
EBITDA margin | 10% | 36% | 12% | 20% |
Net profit (loss) | 299 | 1,131 | 360 | 816 |
Net profit margin | 9% | 31% | 7% | 13% |
2019-06 | 2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|---|
Revenue | 1,841 | 2,238 | 2,878 | 3,486 |
Cost of goods sold | ||||
Gross profit (loss) | 1,841 | 2,238 | 2,878 | 3,486 |
Gross profit margin | % | % | % | % |
Operating expenses | 755 | 1,965 | 1,977 | 2,965 |
Operating profit (loss) | 1,086 | 273 | 901 | 521 |
Operating profit margin | % | % | % | % |
EBITDA | 1,110 | 365 | 1,003 | 658 |
EBITDA margin | 60% | 16% | 35% | 19% |
Net profit (loss) | 945 | 257 | 780 | 454 |
Net profit margin | 51% | 11% | 27% | 13% |
Balance sheet
2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|
Non-current assets | 13,213 | 13,157 | 9,491 | 6,711 |
Intangible assets | 82 | 31 | 21 | 18 |
Tangible assets | 38 | 815 | 719 | 747 |
Financial assets | 12,748 | 12,016 | 8,477 | 5,684 |
Other non-current assets | 345 | 296 | 274 | 262 |
Current assets | 7,259 | 7,713 | 24,914 | 22,219 |
Inventories and prepaid expenses | 41 | 0 | 0 | 0 |
Accounts receivable in one year | 4,320 | 3,576 | 7,468 | 11,169 |
Other current assets | 1,154 | 2,404 | 3,735 | 4,497 |
Cash and cash equivalents | 1,745 | 1,733 | 13,710 | 6,554 |
Total assets | 20,472 | 20,870 | 34,404 | 28,930 |
Equity | 11,576 | 12,502 | 12,062 | 12,590 |
Grants and subsidies | 75 | 29 | 10 | |
Liabilities | 8,821 | 8,339 | 20,399 | 13,926 |
Financial liabilities | 616 | 691 | ||
Long-term liabilities | 804 | 1,399 | 555 | 622 |
Short-term liabilities | 1,666 | 1,791 | 11,108 | 1,225 |
Equity and liabilities | 20,472 | 20,870 | 34,404 | 28,930 |
2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|
Non-current assets | 10,719 | 7,999 | 11,973 |
Intangible assets | 20 | 10 | 21 |
Tangible assets | 781 | 640 | 622 |
Financial assets | 9,629 | 7,139 | 11,111 |
Other non-current assets | 289 | 209 | 219 |
Current assets | 12,781 | 14,958 | 16,797 |
Inventories and prepaid expenses | 0 | 0 | |
Accounts receivable in one year | 5,989 | 7,876 | 12,527 |
Other current assets | 3,837 | 2,685 | 3,216 |
Cash and cash equivalents | 2,955 | 4,398 | 1,054 |
Total assets | 23,500 | 22,957 | 28,770 |
Equity | 11,960 | 12,555 | 12,473 |
Grants and subsidies | 19 | ||
Liabilities | 11,521 | 10,402 | 13,918 |
Financial liabilities | 538 | 577 | |
Long-term liabilities | 1,251 | 555 | 540 |
Short-term liabilities | 3,148 | 2,327 | 658 |
Equity and liabilities | 23,499 | 22,957 | 28,770 |
Financial ratios
2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 1% | 5% | 1% | 3% |
Return on equity (ROE) | 3% | 9% | 3% | 7% |
Return on capital employed (ROCE) | 3% | 14% | 4% | 7% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.05 | 0.05 | ||
Current Ratio | 4.36 | 4.31 | 2.24 | 18.14 |
Quick ratio | 4.33 | 4.31 | 2.24 | 18.14 |
Turnover ratios | ||||
Asset turnover | 0.17 | 0.18 | 0.18 | 0.19 |
Fixed asset turnover | 0.30 | 0.28 | 0.43 | 0.75 |
Equity turnover | 0.30 | 0.30 | 0.40 | 0.49 |
Profitability ratios | ||||
EBITDA margin | 10% | 36% | 12% | 20% |
Operating profit margin | 8% | 36% | 9% | 16% |
Net profit margin | 9% | 31% | 7% | 13% |
Other ratios | ||||
Dividends to the State | 204.45 | 799.54 | 287.66 | 570.89 |
Dividends paid / net profit | 0.68 | 0.71 | 0.80 | 0.70 |
2019-06 | 2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 5% | % | 3% | 2% |
Return on equity (ROE) | 9% | % | 7% | 4% |
Return on capital employed (ROCE) | 14% | 3% | 9% | 4% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.04 | 0.05 | 0.05 | |
Current Ratio | 4.31 | 4.06 | 6.43 | 25.54 |
Quick ratio | 4.31 | 4.06 | 6.43 | 25.54 |
Turnover ratios | ||||
Asset turnover | 0.18 | 0.19 | 0.12 | 0.13 |
Fixed asset turnover | 0.28 | 0.42 | 0.31 | 0.35 |
Equity turnover | 0.30 | 0.37 | 0.23 | 0.28 |
Profitability ratios | ||||
EBITDA margin | 36% | 16% | 35% | 19% |
Operating profit margin | 36% | % | % | % |
Net profit margin | 31% | 11% | 27% | 13% |
Other ratios | ||||
Dividends to the State | 799.54 | |||
Dividends paid / net profit | 0.71 |
Financial statments
Expectations of the state
Target return on equity undefined
About the company
- Official nameUAB „Investicijų ir verslo garantijos“
- Legal formPrivate limited liability company (UAB)
- Company code110084026
- SectorOther
- Line of businessGrants to small and medium-size enterprises
- Institution representing the StateMinistry of Finance
- Special obligationsPerformes non-commercial special obligations
- Share belonging to the State100%
Return to the State
571 EUR thousand
ROE
6.6%
Number of employees
104
Financial data provided as at end-December 2021
Management
- Kęstutis MotiejūnasChief Executive Officer
Information as of: 2023/05/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Alditas SauliusBanking expert; Independent member
MEMBERS OF THE BOARD OF DIRECTORS
- Vytenis LabanauskasUAB Baltoskandijos investicija; VšĮ Sveikatos žinios; UAB HETNET CONSULTING; Independent member
- Viktorija TrimbelUAB Kofinansavimas
- Tomas Urban
Information as of: 2023/05/01
Supervisory board
CHAIRMAN OF THE SUPERVISORY BOARD
- Daina KleponėIndependent member; Vilnius Gediminas Technical University, UAB ProBioSanus
SUPERVISORY BOARD MEMBERS
- Aivaras ČičelisIndependent member; BMI Executive Institute, VšĮ, UAB Švaros broliai; PRO BRO Car Wash Systems, UAB; PRO BRO Group, UAB
- Saulius GalatiltisIndependent member; UAB Bifinity
- Povilas KriaučeliūnasMinistry of the Economy and Innovation
- Pascal LagardeIndependent member; Bifrance; European Investment Fund (EIF)
- Aurimas SaladžiusMinistry of Environment
- Irma PatapienėMinistry of Finance
Information as of: 2023/05/01