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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

2001 The Government of the Republic of Lithuania has established a guarantee institution UAB “Investicijų ir verslo garantijos” (INVEGA). The Company’s areas of activity are provision of guarantees, provision and administration of soft loans, venture capital investment, administration of partial coverage of loan interest, implementation of financial engineering instruments and other activities.

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 3,252 3,461 3,658 4,909
Cost of goods sold
Gross profit (loss) 3,252 3,461 3,658 4,909
Gross profit margin 100% 100% 100% 100%
Operating expenses 2,879 3,168 2,349 4,489
Operating profit (loss) 374 293 1,308 420
Operating profit margin 11% 8% 36% 9%
EBITDA 437 339 1,334 610
EBITDA margin 13% 10% 36% 12%
Net profit (loss) 416 299 1,131 360
Net profit margin 13% 9% 31% 7%
2018-06 2019-06 2020-06 2021-06
Revenue 1,755 1,841 2,238 2,878
Cost of goods sold
Gross profit (loss) 1,755 1,841 2,238 2,878
Gross profit margin % % 100% 100%
Operating expenses 1,201 755 1,965 1,977
Operating profit (loss) 554 1,086 273 901
Operating profit margin % % 59% 31%
EBITDA 1,110 1,004
EBITDA margin % % 60% 35%
Net profit (loss) 498 945 257 780
Net profit margin % % 51% 27%

Balance sheet

2017 2018 2019 2020
Non-current assets 9,773 13,213 13,157 9,491
Intangible assets 26 82 31 21
Tangible assets 44 38 815 719
Financial assets 9,476 12,748 12,016 8,477
Other non-current assets 227 345 296 274
Current assets 9,647 7,259 7,713 24,914
Inventories and prepaid expenses 43 41 0
Accounts receivable in one year 3,872 4,320 3,576 7,468
Other current assets 3,313 1,154 2,404 3,735
Cash and cash equivalents 2,419 1,745 1,733 13,710
Total assets 19,420 20,472 20,870 34,404
Equity 11,633 11,576 12,502 12,062
Grants and subsidies 75 29 10
Liabilities 7,787 8,821 8,339 22,332
Financial liabilities
Long-term liabilities 861 804 1,399 1,256
Short-term liabilities 1,676 1,666 1,791 12,340
Equity and liabilities 19,420 20,472 20,870 34,404
2019-06 2020-06 2021-06
Non-current assets 12,459 10,719 7,999
Intangible assets 70 20 10
Tangible assets 36 781 640
Financial assets 12,089 9,629 7,139
Other non-current assets 264 289 209
Current assets 7,170 12,781 14,958
Inventories and prepaid expenses 45 0
Accounts receivable in one year 3,823 5,989 7,876
Other current assets 1,602 3,837 2,685
Cash and cash equivalents 1,700 2,955 4,398
Total assets 19,629 23,500 22,957
Equity 12,305 11,960 12,555
Grants and subsidies 66 19
Liabilities 7,258 11,521 10,402
Financial liabilities 461
Long-term liabilities 964 1,251 555
Short-term liabilities 77
Equity and liabilities 19,629 23,499 22,957

Financial ratios

2017 2018 2019 2020
Capital return ratios
Return on assets (ROA) 2% 1% 5% 1%
Return on equity (ROE) 4% 3% 9% 3%
Return on capital employed (ROCE) 4% 3% 14% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 5.75 4.36 4.31 2.02
Quick ratio 5.73 4.33 4.31 2.02
Turnover ratios
Asset turnover 0.17 0.17 0.18 0.18
Fixed asset turnover 0.34 0.30 0.28 0.43
Equity turnover 0.28 0.30 0.30 0.40
Profitability ratios
EBITDA margin 13% 10% 36% 12%
Operating profit margin 11% 8% 36% 9%
Net profit margin 13% 9% 31% 7%
Other ratios
Dividends to the State 311.97 204.45 799.54 287.66
Dividends paid / net profit 0.75 0.68 0.71 0.80
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) 2% % % 4%
Return on equity (ROE) 4% % % 7%
Return on capital employed (ROCE) 4% -0% 9% 8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.04
Current Ratio 5.75 194.41
Quick ratio 5.73 194.41
Turnover ratios
Asset turnover 0.17 0.19 0.10 0.12
Fixed asset turnover 0.34 0.30 0.19 0.31
Equity turnover 0.28 0.30 0.18 0.23
Profitability ratios
EBITDA margin 13% % 60% 35%
Operating profit margin 11% % 59% 31%
Net profit margin 13% % 51% 27%
Other ratios
Dividends to the State 311.97
Dividends paid / net profit 0.75

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 the Economy and Innovation
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://invega.lt/
Return to the State

288 EUR thousand

ROE

2.9%

Number of employees

94

Financial data provided as at end-December 2020

Management

  • Kęstutis MotiejūnasDirector General

Information as of: 2021/10/01

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 TrimbelQuantum Capital; Independent member
  • Tomas UrbanMinistry of the Economy and Innovation
  • Irma PatapienėMinistry of Finance

Information as of: 2021/10/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Arūnas ČiuladaUAB Synergy finance; Independent member

SUPERVISORY BOARD MEMBERS

  • Mantas ŠukevičiusUAB Victory Funds; Indendent member
  • Laura BaškytėMinistry of the Economy and Innovation
  • Osvaldas ŠmitasMinistry of the Economy and Innovation
  • Laura Garbenčiūtė-BakienėKU Taupa; Indendent member

Information as of: 2021/10/01