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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.

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 5,700 7,325 9,051 9,149
Cost of goods sold 4,080 6,234 8,350 8,121
Gross profit (loss) 1,620 1,091 701 1,028
Gross profit margin 28% 15% 8% 11%
Operating expenses 565 549 607 585
Operating profit (loss) 1,055 542 94 443
Operating profit margin 19% 7% 1% 5%
EBITDA 1,410 970 537 904
EBITDA margin 25% 13% 6% 10%
Net profit (loss) 940 459 113 397
Net profit margin 16% 6% 1% 4%
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%

* Left axis

** Right axis

*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

2017 2018 2019 2020
Non-current assets 3,389 3,512 3,213 3,463
Intangible assets 4 1 3
Tangible assets 3,385 3,512 3,213 3,460
Financial assets
Other non-current assets
Current assets 3,521 2,947 6,528 6,113
Inventories and prepaid expenses 1,895 1,388 1,441 4,202
Accounts receivable in one year 1,022 1,207 5,039 821
Other current assets
Cash and cash equivalents 604 352 49 1,090
Total assets 6,918 6,468 9,750 9,588
Equity 6,395 6,116 5,807 5,987
Grants and subsidies 57 48 40 30
Liabilities 453 304 3,904 3,571
Financial liabilities 2,799 2,279
Long-term liabilities
Short-term liabilities 372 203 3,812 3,460
Equity and liabilities 6,918 6,468 9,750 9,588
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

* All data in Balance Sheet table and corresponding chart is in EUR thousand, unless otherwise noted

Financial ratios

2017 2018 2019 2020
Capital return ratios
Return on assets (ROA) 14% 7% 1% 4%
Return on equity (ROE) 15% 7% 2% 7%
Return on capital employed (ROCE) 34% 19% 5% 16%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.48 0.38
Current Ratio 9.46 14.51 1.71 1.77
Quick ratio 4.37 7.68 1.33 0.55
Turnover ratios
Asset turnover 0.85 1.09 1.12 0.95
Fixed asset turnover 1.72 2.12 2.69 2.74
Equity turnover 0.92 1.17 1.52 1.55
Profitability ratios
EBITDA margin 25% 13% 6% 10%
Operating profit margin 19% 7% 1% 5%
Net profit margin 16% 6% 1% 4%
Other ratios
Dividends to the State 517.13 296.03 151.98 218.78
Dividends paid / net profit 0.55 0.65 1.35 0.55

* Left axis

** Right axis

*** Dividends to the state in Financial Ratios table is in EUR thousand

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

Financial statments

2020 m. 6 mėn. tarpinės ataskaitos 2020 m. metinės ataskaitos
2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos
2018 m. metinės ataskaitos 2018 m. 6 mėn. tarpinės ataskaitos
2017 m. 6 mėn. tarpinės ataskaitos 2017 m. metinės ataskaitos
2016 m. metinės ataskaitos 2016 m. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės ataskaitos
2015 m. 12 mėn. tarpinės ataskaitos 2015 m. 9 mėn. tarpinės ataskaitos 2015 m. 6 mėn. tarpinės ataskaitos 2015 m. 3 mėn. tarpinės ataskaitos
2014 m. metinės ataskaitos 2014 m. 12 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos 2012 m. 3 mėn. tarpinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos
2010 m. metinės ataskaitos
2011 m. metinės ataskaitos 2011m. 9 mėn. tarpinės ataskaitos 2011 m. 6 mėn. tarpinės ataskaitos

Expectations of the state

Target return on equity

11.3%

Letter of Expectations

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

219 EUR thousand

ROE

6.7%

Number of employees

38

Financial data provided as at end-December 2020

Management

  • Darius KarpavičiusDirector General

Information as of: 2021/10/11

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Jurij KornijenkoMinistry of Agriculture

MEMBERS OF THE BOARD OF DIRECTORS

  • Jonas LisauskasMinistry of Agriculture
  • Tomas UrbonasUAB Agrokoncerno grūdai
  • Arnoldas SaldysACME EUROPE JSC; Independent member
  • Gedvidas BelickasUAB Baltic Private Equity, UAB Vestaka; Independent member

Information as of: 2021/10/01