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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

          2021/22 GOOD CORPORATE GOVERNANCE INDEX       


          2020/21 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%
2019-06 2020-06 2021-06 2022-06
Revenue 1,749 1,733 4,732 3,502
Cost of goods sold 1,829 1,672 4,432 2,790
Gross profit (loss) -80 61 300 711
Gross profit margin % % % %
Operating expenses 186 187 215 252
Operating profit (loss) -267 -126 85 460
Operating profit margin % % % %
EBITDA -51 85 320 753
EBITDA margin -3% 5% 7% 22%
Net profit (loss) -238 -109 75 412
Net profit margin -14% -6% 2% 12%

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
2020-06 2021-06 2022-06
Non-current assets 3,272 3,535 3,060
Intangible assets 3
Tangible assets 3,269 3,535 3,060
Financial assets
Other non-current assets
Current assets 2,377 2,723 3,451
Inventories and prepaid expenses 414 464 230
Accounts receivable in one year 254 897 434
Other current assets
Cash and cash equivalents 1,709 1,362 2,788
Total assets 5,660 6,264 6,522
Equity 5,481 5,750 6,136
Grants and subsidies 35 26 20
Liabilities 144 487 367
Financial liabilities 18
Long-term liabilities 15
Short-term liabilities 94 429 269
Equity and liabilities 5,660 6,264 6,522

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
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 1% % 7% 13%
Return on equity (ROE) 2% % 10% 14%
Return on capital employed (ROCE) 5% -3% 3% 16%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.48 0.00
Current Ratio 1.71 25.31 6.35 12.81
Quick ratio 1.33 20.91 5.27 11.96
Turnover ratios
Asset turnover 1.12 0.61 0.79 0.55
Fixed asset turnover 2.69 1.06 1.39 1.06
Equity turnover 1.52 0.63 0.84 0.59
Profitability ratios
EBITDA margin 6% 5% 7% 22%
Operating profit margin 1% % % %
Net profit margin 1% -6% 2% 12%
Other ratios
Dividends to the State 151.98
Dividends paid / net profit 1.35

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/
ROE

14.0%

Number of employees

34

Financial data provided as at end-December 2021

Management

  • Darius KarpavičiusDirector General

Information as of: 2023/01/01

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: 2023/01/01