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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

The company started its business in 1974. 1995 it was reorganized into a special purpose joint-stock company Jonavos Grūdai, and in 2003 it was registered as AB “Jonavos Grūdai”. The company carries out grain and rapeseed processing and storage services, as well as  grain and rapeseed wholesale.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual EBITDA:
    • 2022–2024 ≥ 900 thousand Eur.
  • Annual ratio of total liabilities to equity:
    • 2022–2024 ≤ 1,5 times.
  • Dividends paid for the calendar year:
    • 2022 m. ≥ 280 thousand Eur.,
    • 2023–2024 +3 percent annual growth

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025

  • Debt overdue rate,%:
    • 2023-2025 < 1
  • Solvency ratio, amount:
    • 2023-2025 > 1
  • The amount of electricity produced, kWh:

    • 2023 – 100000
    • 2024 – 400000
    • 2025 – 400000
  • Installed grain cleaning capacity, tons/h:
    • 2023 – 250
    • 2024 – 250
    • 2025 – 300
  • Purchased amount of grain and oil crops from the total harvest of Lithuania, %:
    • 2023-2025 – 0,6
  • The amount of grain accepted during the previous year, as a percentage from the total harvest of grain and oil crops in Lithuania:
    • 2023-2025 – 1,3
  • Accepted amount of grain and oil crops per worker, in tons:
    • 2023 >1800
    • 2024 >1850
    • 2025 >1900
  • Amount of internal and external employee training, units:
    • 2023-2025 every year > 10

          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 9,051 9,149 8,809 9,321
Cost of goods sold 8,350 8,121 7,775 7,711
Gross profit (loss) 701 1,028 1,034 1,610
Gross profit margin 8% 11% 12% 17%
Operating expenses 605 579 486 1,291
Operating profit (loss) 94 443 539 318
Operating profit margin 1% 5% 6% 3%
EBITDA 537 904 1,101 963
EBITDA margin 6% 10% 12% 10%
Net profit (loss) 113 397 495 410
Net profit margin 1% 4% 6% 4%
2020-06 2021-06 2022-06 2023-06
Revenue 1,733 4,732 3,470 15,831
Cost of goods sold 1,672 4,432 2,790 15,491
Gross profit (loss) 61 300 679 340
Gross profit margin 4% 6% 20% 2%
Operating expenses 187 205 251 377
Operating profit (loss) -126 85 428 -38
Operating profit margin -7% 2% 12% -0%
EBITDA 86 320 721 271
EBITDA margin 5% 7% 21% 2%
Net profit (loss) -109 75 380 357
Net profit margin -6% 2% 11% 2%

Balance sheet

2019 2020 2021 2022
Non-current assets 3,213 3,463 3,280 2,839
Intangible assets 0 3
Tangible assets 3,213 3,460 3,280 2,839
Financial assets
Other non-current assets
Current assets 6,528 6,113 3,265 16,932
Inventories and prepaid expenses 1,441 4,202 2,141 13,335
Accounts receivable in one year 5,039 821 928 1,999
Other current assets
Cash and cash equivalents 49 1,090 195 1,597
Total assets 9,750 9,588 6,551 19,793
Equity 5,807 5,987 6,170 6,134
Grants and subsidies 40 30 23 17
Liabilities 3,812 3,460 275 13,555
Financial liabilities 0 0 0 16
Long-term liabilities 9
Short-term liabilities 3,812 3,460 275 13,546
Equity and liabilities 9,750 9,588 6,551 19,793
2020-06 2021-06 2022-06 2023-06
Non-current assets 3,272 3,535 3,060 2,944
Intangible assets 3 0 0 0
Tangible assets 3,269 3,535 3,060 2,944
Financial assets 0
Other non-current assets 0
Current assets 2,377 2,723 3,451 4,404
Inventories and prepaid expenses 414 464 230 1,339
Accounts receivable in one year 254 897 434 841
Other current assets 0 1,000
Cash and cash equivalents 1,709 1,362 2,788 1,223
Total assets 5,660 6,264 6,522 7,372
Equity 5,481 5,750 6,136 6,086
Grants and subsidies 35 26 20 13
Liabilities 94 429 284 1,186
Financial liabilities 0 0 18 12
Long-term liabilities 0 0 15 9
Short-term liabilities 94 429 269 1,177
Equity and liabilities 5,660 6,264 6,522 7,372

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 1% 4% 6% 3%
Return on equity (ROE) 2% 7% 8% 7%
Return on capital employed (ROCE) 2% 7% 9% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.29 0.24 0.00 0.65
Current Ratio 1.71 1.77 11.87 1.25
Quick ratio 1.33 0.55 4.09 0.27
Turnover ratios
Asset turnover 0.93 0.95 1.34 0.47
Fixed asset turnover 2.82 2.64 2.69 3.28
Equity turnover 1.56 1.53 1.43 1.52
Profitability ratios
EBITDA margin 6% 10% 12% 10%
Operating profit margin 1% 5% 6% 3%
Net profit margin 1% 4% 6% 4%
Other ratios
Dividends to the State 151.98 218.78 304.65 292.86
Dividends paid / net profit 1.35 0.55 0.62 0.71
2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 4% 10% 13% 6%
Return on equity (ROE) 4% 10% 13% 6%
Return on capital employed (ROCE) -2% 1% 7% -1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 25.31 6.35 12.81 3.74
Quick ratio 20.91 5.27 11.96 2.60
Turnover ratios
Asset turnover 0.31 0.76 0.53 2.15
Fixed asset turnover 0.53 1.34 1.13 5.38
Equity turnover 0.32 0.82 0.57 2.60
Profitability ratios
EBITDA margin 5% 7% 21% 2%
Operating profit margin -7% 2% 12% -0%
Net profit margin -6% 2% 11% 2%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

About the company

  • Official nameAB „Jonavos grūdai“
  • Legal formPublic limited liability company (AB)
  • Company code156511418
  • SectorOther
  • Line of businessWholesale of grain and rapeseeds
  • Institution representing the StateMinistry of Agriculture
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State70.13%
http://www.jonavosgrudai.lt/
Return to the State

293 EUR thousand

ROE

6.7%

Number of employees

41

Financial data provided as at end-December 2022

Management

  • Darius KarpavičiusChief Executive Officer

Information as of: 2024/02/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Andrejus Cedronas Independent member; MB Ego nova; UAB Šiaurės karjerai

MEMBERS OF THE BOARD OF DIRECTORS

  • Jonas Vankevičius Independent member; UAB PRUMOS
  • Alenas Gumuliauskas Independent member; UAB Victory funds
  • Rūta Pupkaitė-Jurgutienė Ministry of Agriculture
  • Linas LapinskasMinistry of Agriculture
  • Tomas UrbonasJSC Agrokoncerno grūdai

Information as of: 2024/02/01