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Valdymo koordinavimo centras

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

2016 2017 2018 2019
Revenue 1,353 3,252 3,461 3,658
Cost of goods sold 83
Gross profit (loss) 1,270 3,252 3,461 3,658
Gross profit margin 94% 100% 100% 100%
Operating expenses 361 2,879 3,168 2,349
Operating profit (loss) 909 374 293 1,308
Operating profit margin 67% 11% 8% 36%
EBITDA 969 437 339 1,334
EBITDA margin 72% 13% 10% 36%
Net profit (loss) 929 416 299 1,131
Net profit margin 69% 13% 9% 31%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 679 697 1,841 2,238
Cost of goods sold 59 28
Gross profit (loss) 620 669 1,841 2,238
Gross profit margin 91% 96% 100% 100%
Operating expenses 102 116 755 1,965
Operating profit (loss) 518 553 1,086 273
Operating profit margin 76% 79% 59% 12%
EBITDA 521 554 1,100 365
EBITDA margin 77% 79% 60% 16%
Net profit (loss) 90 86 945 257
Net profit margin 73% 71% 51% 11%

Balance sheet

2016 2017 2018 2019
Non-current assets 9,197 9,773 13,213 13,157
Intangible assets 46 26 82 31
Tangible assets 69 44 38 815
Financial assets 8,934 9,476 12,748 12,016
Other non-current assets 148 227 345 296
Biological assets
Current assets 10,660 9,647 7,259 7,713
Inventories and prepaid expenses 36 43 41 49
Accounts receivable in one year 4,422 3,872 4,320 3,527
Other current assets 4,046 3,313 1,154 2,404
Cash and cash equivalents 2,156 2,419 1,745 1,733
Total assets 19,857 19,420 20,472 20,870
Equity 11,867 11,633 11,576 12,502
Minority share of capital
Grants and subsidies 75 29
Liabilities 7,990 7,787 8,821 8,339
Financial liabilities
Long-term liabilities 847 861 804 1,399
Short-term liabilities 1,952 1,676 1,666 1,791
Equity and liabilities 19,857 19,420 20,472 20,870
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 8,622 11,487 12,459 10,719
Intangible assets 34 13 70 20
Tangible assets 54 47 36 781
Financial assets 8,340 11,202 12,089 9,629
Other non-current assets 194 225 264 289
Biological assets
Current assets 11,415 7,901 7,170 12,781
Inventories and prepaid expenses 27 40 45 0
Accounts receivable in one year 4,608 4,155 3,823 5,989
Other current assets 5,170 2,267 1,602 3,837
Cash and cash equivalents 1,610 1,439 1,700 2,955
Total assets 20,037 19,388 19,629 23,500
Equity 11,717 11,819 12,305 11,960
Minority share of capital
Grants and subsidies 66 19
Liabilities 8,320 7,569 7,258 11,521
Financial liabilities
Long-term liabilities 60 947 964 1,251
Short-term liabilities 8,260 6,622 1,233 3,148
Equity and liabilities 20,037 19,388 19,629 23,500

Financial ratios

2016 2017 2018 2019
Capital return ratios
Return on assets (ROA) 5% 2% 1% 5%
Return on equity (ROE) 8% 4% 3% 9%
Return on capital employed (ROCE) 10% 4% 3% 14%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 5.46 5.75 4.36 4.31
Quick ratio 5.44 5.73 4.33 4.28
Turnover ratios
Asset turnover 0.07 0.17 0.17 0.18
Fixed asset turnover 0.15 0.34 0.30 0.28
Equity turnover 0.12 0.28 0.30 0.30
Profitability ratios
EBITDA margin 72% 13% 10% 36%
Operating profit margin 67% 11% 8% 36%
Net profit margin 69% 13% 9% 31%
Other ratios
Dividends to the State 650.00 311.97 204.45 799.54
Dividends paid / net profit 0.70 0.75 0.68 0.71
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) 2% 2% 4% 2%
Return on equity (ROE) 4% 4% 6% 4%
Return on capital employed (ROCE) 4% 9% 12% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 5.75 1.19 5.82 4.06
Quick ratio 5.73 1.19 5.78 4.06
Turnover ratios
Asset turnover 0.17 0.04 0.09 0.10
Fixed asset turnover 0.34 0.07 0.15 0.19
Equity turnover 0.28 0.06 0.15 0.18
Profitability ratios
EBITDA margin 13% 79% 60% 16%
Operating profit margin 11% 79% 59% 12%
Net profit margin 13% 71% 51% 11%
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 obligationsVykdo nekomercinius specialiuosius įpareigojimus
  • Share belonging to the State100%
http://invega.lt/
Return to the State

800 EUR thousand

ROE

9.4%

Number of employees

53

Financial data provided as at end-December 2019

Management

  • Kęstutis MotiejūnasDirector General

Information as of: 2020/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Alditas SauliusBanking expert; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Vytenis LabanauskasIndependent member
  • Viktorija TrimbelQuantum Capital; Independent member
  • Raimonda EidžiūnėMinistry of Finance
  • Tomas UrbanMinistry of the Economy and Innovation

Information as of: 2020/10/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Arūnas ČiuladaUAB Synergy finance; Independent member

SUPERVISORY BOARD MEMBERS

  • Mantas ŠukevičiusIndendent member
  • Laura BaškytėMinistry of the Economy and Innovation
  • Osvaldas ŠmitasMinistry of the Economy and Innovation
  • Laura Garbenčiūtė-BakienėIndendent member

Information as of: 2020/10/01