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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB Lietuvos radijo ir televizijos centras (Telecentras) is a state-owned joint-stock company, which is the largest operator of free-to-air radio and television programmes in Lithuania. The company also provides data transmission, data centres, infrastructure rental, live broadcasts to studios and other services. The company owns the tallest building in Lithuania, the Vilnius TV Tower.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Annual EBITDA profitability:
    • 2022 ≥ 24 percent.,
    • 2023 ≥ 27 percent.,
    • 2024 ≥ 33 percent.
  • Annual ratio of financial debt to equity:
    • 2022–2024 ≤ 1 times

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • Execution of the investment plan (% of the approved plan):
    • 2022-2024 ≥ 80
  • Finished el. energy share percent from all el. consumed energy::
    • 2022 – 7,5
    • 2023 – 17,5
    • 2024 – 20,0
  • Availability of digital TV and radio broadcasting service,%:
    • 2022-2024 ≥ 99,3
  • Customer satisfaction, eNPS index,%:
    • 2022 – 55
    • 2023 – 56
    • 2024 – 57
  • Percentage change of key employees:
    • 2022-2024 ≤ 10
  • Employee engagement (job satisfaction) rate:
    • 2022-2024 (every year) ≥ 4

         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 20,080 20,719 20,496 9,652
Cost of goods sold 13,057 14,113 14,361 5,937
Gross profit (loss) 7,023 6,606 6,135 3,716
Gross profit margin 35% 32% 30% 38%
Operating expenses 6,543 6,190 6,117 3,312
Operating profit (loss) 480 416 18 404
Operating profit margin 2% 2% 0% 4%
EBITDA 6,016 5,785 5,383 16,742
EBITDA margin 30% 28% 26% 173%
Net profit (loss) 933 659 209 12,344
Net profit margin 5% 3% 1% 128%
2019-06 2020-06 2021-06 2022-06
Revenue 10,110 9,994 4,407 5,838
Cost of goods sold 6,947 7,173 2,530 4,074
Gross profit (loss) 3,164 2,821 1,877 1,764
Gross profit margin % % % %
Operating expenses 2,982 2,832 1,594 1,248
Operating profit (loss) 181 -11 283 516
Operating profit margin % % % %
EBITDA 2,867 2,638 15,566 1,817
EBITDA margin 28% 26% 353% 31%
Net profit (loss) 340 44 11,511 380
Net profit margin 3% 0% 261% 7%

Balance sheet

2018 2019 2020 2021
Non-current assets 30,424 28,917 28,474 22,238
Intangible assets 191 189 551 188
Tangible assets 30,118 28,656 27,863 21,997
Financial assets 84 36 40
Other non-current assets 31 36 20 53
Current assets 10,031 11,868 27,228 37,154
Inventories and prepaid expenses 923 804 600 42
Accounts receivable in one year 2,841 3,286 3,540 1,175
Other current assets
Cash and cash equivalents 6,267 7,777 23,089 35,938
Total assets 40,455 40,784 55,702 59,392
Equity 32,413 32,117 31,791 45,259
Grants and subsidies
Liabilities 8,042 8,668 23,911 14,133
Financial liabilities 59 11 1,183 1,159
Long-term liabilities 4,613 6,149 6,339 10,378
Short-term liabilities 3,250 2,338 17,373 3,587
Equity and liabilities 40,455 40,784 55,702 59,392
2020-06 2021-06 2022-06
Non-current assets 27,500 18,596 27,333
Intangible assets 347 231 265
Tangible assets 27,087 18,180 22,426
Financial assets 29 4,587
Other non-current assets 38 186 54
Current assets 12,440 38,547 30,693
Inventories and prepaid expenses 770 39 32
Accounts receivable in one year 3,682 8,716 1,325
Other current assets
Cash and cash equivalents 7,988 29,792 29,335
Total assets 39,940 57,143 58,026
Equity 31,287 42,929 45,641
Grants and subsidies 0 98
Liabilities 8,653 14,214 12,287
Financial liabilities 1,151
Long-term liabilities 6,241 9,979 10,581
Short-term liabilities 2,221 4,092 1,471
Equity and liabilities 39,940 57,143 58,026

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 2% 2% 0% 21%
Return on equity (ROE) 3% 2% 1% 32%
Return on capital employed (ROCE) 5% 3% 1% 52%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.04 0.03
Current Ratio 3.09 5.08 1.57 10.36
Quick ratio 2.80 4.73 1.53 10.35
Turnover ratios
Asset turnover 0.51 0.51 0.42 0.17
Fixed asset turnover 0.65 0.70 0.71 0.38
Equity turnover 0.62 0.64 0.64 0.25
Profitability ratios
EBITDA margin 30% 28% 26% 173%
Operating profit margin 2% 2% 0% 4%
Net profit margin 5% 3% 1% 128%
Other ratios
Dividends to the State 955.23 874.00 373.00 7,639.10
Dividends paid / net profit 1.02 1.33 1.78 0.62
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 2% % 20% 2%
Return on equity (ROE) 2% % 30% 3%
Return on capital employed (ROCE) 3% 0% 55% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.03 0.03
Current Ratio 5.08 5.60 9.42 20.87
Quick ratio 4.73 5.26 9.41 20.85
Turnover ratios
Asset turnover 0.51 0.50 0.09 0.10
Fixed asset turnover 0.70 0.73 0.19 0.25
Equity turnover 0.64 0.64 0.12 0.13
Profitability ratios
EBITDA margin 28% 26% 353% 31%
Operating profit margin 2% % % %
Net profit margin 3% 0% 261% 7%
Other ratios
Dividends to the State 874.00
Dividends paid / net profit 1.33

Expectations of the state

Target return on equity undefined

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/
ROE

2.7%

Number of employees

150

Financial data provided as at end-December 2021

Management

  • Remigijus ŠerisDirector General

Information as of: 2023/01/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Aušra PranckaitytėUAB Vidaus audito konsultacijos; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Roma AndruškevičienėMinistry of Transport and Communications
  • Ramūnas Markauskas UAB 360 IT; UAB Northway chirurgijos centras; Vilniaus universitetas; Independent member

Information as of: 2023/01/01