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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 2022-2024

  • Debt overdue rate,%:
    • 2022-2024 < 1
  • Solvency ratio, amount:
    • 2022-2024 > 1,5
  • The amount of grain accepted during the previous year as a percentage. from the total harvest of cereals and oilseeds in Lithuania::
    • 2022-2024 – 1,3
  • Number of internal and external staff trainings, pcs :
    • 2022-2024 after > 10

          2020 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 7,325 9,051 9,149 8,809
Cost of goods sold 6,234 8,350 8,121 7,775
Gross profit (loss) 1,091 701 1,028 1,034
Gross profit margin 15% 8% 11% 12%
Operating expenses 549 607 586 495
Operating profit (loss) 542 94 443 539
Operating profit margin 7% 1% 5% 6%
EBITDA 970 537 904 1,101
EBITDA margin 13% 6% 10% 12%
Net profit (loss) 459 113 397 495
Net profit margin 6% 1% 4% 6%
2018-06 2019-06 2020-06 2021-06
Revenue 2,785 1,749 1,733 4,731
Cost of goods sold 2,410 1,829 1,672 4,432
Gross profit (loss) 375 -80 61 300
Gross profit margin % % -5% 6%
Operating expenses 237 186 187 215
Operating profit (loss) 138 -267 -126 85
Operating profit margin % % -15% 2%
EBITDA -51 322
EBITDA margin % % -3% 7%
Net profit (loss) 140 -238 -109 75
Net profit margin % % -14% 2%

Balance sheet

2018 2019 2020 2021
Non-current assets 3,512 3,213 3,463 3,280
Intangible assets 1 3
Tangible assets 3,512 3,213 3,460 3,280
Financial assets
Other non-current assets
Current assets 2,947 6,528 6,113 3,265
Inventories and prepaid expenses 1,388 1,441 4,202 2,141
Accounts receivable in one year 1,207 5,039 821 928
Other current assets
Cash and cash equivalents 352 49 1,090 195
Total assets 6,468 9,750 9,588 6,551
Equity 6,116 5,807 5,987 6,170
Grants and subsidies 48 40 30 23
Liabilities 304 3,904 3,571 357
Financial liabilities 2,799 2,279
Long-term liabilities
Short-term liabilities 203 3,812 3,460 275
Equity and liabilities 6,468 9,750 9,588 6,551
2019-06 2020-06 2021-06
Non-current assets 3,329 3,272 3,535
Intangible assets 3
Tangible assets 3,329 3,269 3,535
Financial assets
Other non-current assets
Current assets 2,283 2,377 2,723
Inventories and prepaid expenses 264 414 464
Accounts receivable in one year 451 254 897
Other current assets
Cash and cash equivalents 1,568 1,709 1,362
Total assets 5,621 5,660 6,264
Equity 5,456 5,481 5,750
Grants and subsidies 44 35 26
Liabilities 121 144 487
Financial liabilities
Long-term liabilities
Short-term liabilities
Equity and liabilities 5,621 5,660 6,264

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 7% 1% 4% 6%
Return on equity (ROE) 7% 2% 7% 8%
Return on capital employed (ROCE) 19% 5% 16% 19%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.48 0.38
Current Ratio 14.51 1.71 1.77 11.87
Quick ratio 7.68 1.33 0.55 4.09
Turnover ratios
Asset turnover 1.09 1.12 0.95 1.09
Fixed asset turnover 2.12 2.69 2.74 2.61
Equity turnover 1.17 1.52 1.55 1.45
Profitability ratios
EBITDA margin 13% 6% 10% 12%
Operating profit margin 7% 1% 5% 6%
Net profit margin 6% 1% 4% 6%
Other ratios
Dividends to the State 296.03 151.98 218.78 304.65
Dividends paid / net profit 0.65 1.35 0.55 0.62
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) 14% % % 10%
Return on equity (ROE) 15% % % 10%
Return on capital employed (ROCE) 34% -7% -8% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 9.46
Quick ratio 4.37
Turnover ratios
Asset turnover 0.85 0.62 0.31 0.79
Fixed asset turnover 1.72 1.05 0.53 1.39
Equity turnover 0.92 0.64 0.32 0.84
Profitability ratios
EBITDA margin 25% % -3% 7%
Operating profit margin 19% % -15% 2%
Net profit margin 16% % -14% 2%
Other ratios
Dividends to the State 517.13
Dividends paid / net profit 0.55

Expectations of the state

Target return on equity undefined

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

305 EUR thousand

ROE

8.1%

Number of employees

38

Financial data provided as at end-December 2021

Management

  • Darius KarpavičiusDirector General

Information as of: 2022/09/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Andrejus Cedronas MB Todilė; MB Ego nova; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Jonas Vankevičius UAB OGMIOS PULSAS; Independent member
  • Alenas Gumuliauskas Aventus Group; Independent member
  • Rūta Pupkaitė-Jurgutienė Ministry of Agriculture
  • Linas LapinskasMinistry of Agriculture
  • Tomas UrbonasJSC Agrokoncerno grūdai

Information as of: 2022/09/01