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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB Lietuvos radijo ir televizijos centras (LRTC) started its activity in 1926 and acquired the status of a public company in 1997. The company provides television and radio program transmission, data transmission and wireless broadband internet services, accommodates equipment of broadcasters and telecommunication system operators in the company’s facilities. The company’s main competitors are TEO LT, Omnitel, Bitė Lietuva, Tele 2 and Balticum TV.

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 19,854 20,080 20,719 20,496
Cost of goods sold 13,595 13,057 14,113 14,361
Gross profit (loss) 6,259 7,023 6,606 6,135
Gross profit margin 32% 35% 32% 30%
Operating expenses 6,520 6,543 6,190 6,117
Operating profit (loss) -261 480 416 18
Operating profit margin -1% 2% 2% 0%
EBITDA 5,679 6,016 5,785 5,383
EBITDA margin 29% 30% 28% 26%
Net profit (loss) 141 933 659 209
Net profit margin 1% 5% 3% 1%
2018-06 2019-06 2020-06 2021-06
Revenue 9,924 10,110 9,994 4,407
Cost of goods sold 6,824 6,947 7,173 2,530
Gross profit (loss) 3,100 3,164 2,821 1,877
Gross profit margin % % 31% 43%
Operating expenses 2,888 2,982 2,832 1,594
Operating profit (loss) 212 181 -11 283
Operating profit margin % % 2% 6%
EBITDA 2,867 15,566
EBITDA margin % % 28% 353%
Net profit (loss) 525 340 44 11,511
Net profit margin % % 3% 261%

Balance sheet

2017 2018 2019 2020
Non-current assets 31,738 30,424 28,917 28,474
Intangible assets 89 191 189 551
Tangible assets 31,622 30,118 28,656 27,863
Financial assets 84 36 40
Other non-current assets 26 31 36 20
Current assets 6,832 10,031 11,868 27,228
Inventories and prepaid expenses 1,526 923 804 600
Accounts receivable in one year 2,724 2,841 3,286 3,540
Other current assets
Cash and cash equivalents 2,582 6,267 7,777 23,089
Total assets 38,569 40,455 40,784 55,702
Equity 32,051 32,413 32,117 31,791
Grants and subsidies
Liabilities 6,519 8,042 8,668 23,911
Financial liabilities 102 59 11
Long-term liabilities 4,615 4,613 6,149 6,339
Short-term liabilities 1,725 3,250 2,338 17,373
Equity and liabilities 38,569 40,455 40,784 55,702
2019-06 2020-06 2021-06
Non-current assets 28,996 27,500 18,596
Intangible assets 203 347 231
Tangible assets 28,681 27,087 18,180
Financial assets 29
Other non-current assets 112 38 186
Current assets 9,787 12,440 38,547
Inventories and prepaid expenses 635 770 39
Accounts receivable in one year 3,068 3,682 8,716
Other current assets 187
Cash and cash equivalents 5,897 7,988 29,792
Total assets 38,783 39,940 57,143
Equity 31,807 31,287 42,929
Grants and subsidies -0
Liabilities 6,569 8,653 14,214
Financial liabilities 15
Long-term liabilities 4,970 6,241 9,979
Short-term liabilities 22
Equity and liabilities 38,783 39,940 57,143

Financial ratios

2017 2018 2019 2020
Capital return ratios
Return on assets (ROA) 0% 2% 2% 0%
Return on equity (ROE) 0% 3% 2% 1%
Return on capital employed (ROCE) 1% 5% 3% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00
Current Ratio 3.96 3.09 5.08 1.57
Quick ratio 3.08 2.80 4.73 1.53
Turnover ratios
Asset turnover 0.50 0.51 0.51 0.42
Fixed asset turnover 0.63 0.65 0.70 0.71
Equity turnover 0.62 0.62 0.64 0.64
Profitability ratios
EBITDA margin 29% 30% 28% 26%
Operating profit margin -1% 2% 2% 0%
Net profit margin 1% 5% 3% 1%
Other ratios
Dividends to the State 330.68 955.23 874.00 373.00
Dividends paid / net profit 2.35 1.02 1.33 1.78
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) 0% % % 24%
Return on equity (ROE) 0% % % 31%
Return on capital employed (ROCE) 1% -13% 1% 51%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00
Current Ratio 3.96 444.86
Quick ratio 3.08 416.00
Turnover ratios
Asset turnover 0.50 0.52 0.25 0.09
Fixed asset turnover 0.63 0.70 0.35 0.19
Equity turnover 0.62 0.64 0.32 0.12
Profitability ratios
EBITDA margin 29% % 28% 353%
Operating profit margin -1% % 2% 6%
Net profit margin 1% % 3% 261%
Other ratios
Dividends to the State 330.68
Dividends paid / net profit 2.35

Expectations of the state

Target return on equity

4.5%

About the company

  • Official nameAB Lietuvos radijo ir televizijos centras
  • Legal formPublic limited liability company (AB)
  • Company code120505210
  • SectorTransport and Communications
  • Line of businessBroadcasting of radio and television, broadband internet services
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.telecentras.lt/
Return to the State

373 EUR thousand

ROE

0.7%

Number of employees

300

Financial data provided as at end-December 2020

Management

  • Remigijus ŠerisDirector General

Information as of: 2021/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vidas DanieliusGovernance Coordination Center

MEMBERS OF THE BOARD OF DIRECTORS

  • Janina LaskauskienėMinistry of Transport and Communications
  • Raimondas GeleževičiusAB Lietuvos draudimas; Independent member

Information as of: 2021/10/01