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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

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.


         2022/23 GOOD CORPORATE GOVERNANCE INDEX

           


         2021/22 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

2019 2020 2021 2022
Revenue 3,658 4,909 6,050 6,976
Cost of goods sold
Gross profit (loss) 3,658 4,909 6,050 6,976
Gross profit margin 100% 100% 100% 100%
Operating expenses 2,581 4,124 5,182 6,103
Operating profit (loss) 1,308 420 952 958
Operating profit margin 36% 9% 16% 14%
EBITDA 1,334 611 1,184 1,254
EBITDA margin 36% 12% 20% 18%
Net profit (loss) 1,131 360 816 841
Net profit margin 31% 7% 13% 12%
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

2019 2020 2021 2022
Non-current assets 13,157 9,491 6,711 11,137
Intangible assets 31 21 18 39
Tangible assets 815 719 747 537
Financial assets 12,016 8,477 5,684 10,362
Other non-current assets 296 274 262 199
Current assets 7,713 24,914 22,219 17,678
Inventories and prepaid expenses 0 0 0
Accounts receivable in one year 3,576 7,468 11,169 11,528
Other current assets 2,404 3,735 4,497 5,474
Cash and cash equivalents 1,733 13,710 6,554 676
Total assets 20,870 34,404 28,930 28,815
Equity 12,502 12,062 12,590 12,861
Grants and subsidies 29 10
Liabilities 3,190 11,663 1,847 1,188
Financial liabilities 0 616 691 499
Long-term liabilities 1,399 555 622 354
Short-term liabilities 1,791 11,108 1,225 834
Equity and liabilities 20,870 34,404 28,930 28,815
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

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 5% 1% 3% 3%
Return on equity (ROE) 9% 3% 7% 7%
Return on capital employed (ROCE) 9% 3% 7% 7%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.02 0.02 0.02
Current Ratio 4.31 2.24 18.14 21.20
Quick ratio 4.31 2.24 18.14 21.20
Turnover ratios
Asset turnover 0.18 0.14 0.21 0.24
Fixed asset turnover 0.28 0.52 0.90 0.63
Equity turnover 0.29 0.41 0.48 0.54
Profitability ratios
EBITDA margin 36% 12% 20% 18%
Operating profit margin 36% 9% 16% 14%
Net profit margin 31% 7% 13% 12%
Other ratios
Dividends to the State 799.54 287.66 570.89 630.97
Dividends paid / net profit 0.71 0.80 0.70 0.75
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

Expectations of the state

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%
http://invega.lt/
Return to the State

631 EUR thousand

ROE

6.6%

Number of employees

109

Financial data provided as at end-December 2022

Management

  • Dainius VilčinskasChief Executive Officer

Information as of: 2024/04/02

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Dainius VilčinskasUAB Investicijų ir verslo garantijos

MEMBERS OF THE BOARD OF DIRECTORS

  • Inga BeiliūnienėUAB Investicijų ir verslo garantijos
  • Lina StragauskienėUAB Investicijų ir verslo garantijos
  • Jonas KanapeckasUAB Investicijų ir verslo garantijos
  • Giedrė GečiauskienėUAB Investicijų ir verslo garantijos; UAB Būsto paskolų draudimas

Information as of: 2024/04/02

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
  • Saulius GalatiltisIndependent member; UAB Foxpay
  • Povilas KriaučeliūnasMinistry of the Economy and Innovation
  • Pascal LagardeIndependent member; Bifrance; European Investment Fund (EIF)
  • Aurimas SaladžiusMinistry of Environment; VĮ Valstybinių miškų urėdija
  • Irma PatapienėMinistry of Finance

Information as of: 2024/04/02