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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 2023-2025

  • Execution of the investment plan (% of the approved plan):
    • 2023-2025 ≥ 80
  • Finished el. energy share percent from all el. consumed energy::
    • 2023 – 20
    • 2024 – 64
    • 2025 – 83
  • Availability of digital TV and radio broadcasting service,%:
    • 2023-2025 ≥ 99,3
  • Customer satisfaction, eNPS index, change in percentage points compared to last year:

    • 2023 – 1
    • 2024 – 1
    • 2025 – 1
  • Percentage change of key employees:
    • 2023-2025 ≤ 10
  • Employee engagement (job satisfaction) rate:
    • 2023-2025 (every year) ≥ 4
  • Accumulated energy (electricity, heat) savings compared to 2021, accumulated MWh.:
    • 2023 – 610
    • 2024 – 700
    • 2025 – 800

         2022/23 GOOD CORPORATE GOVERNANCE INDEX

            

         2021/22 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

2019 2020 2021 2022
Revenue 20,719 20,496 9,652 13,040
Cost of goods sold 14,113 14,361 5,937 8,932
Gross profit (loss) 6,606 6,135 3,716 4,108
Gross profit margin 32% 30% 38% 31%
Operating expenses 5,335 5,218 3,234 3,004
Operating profit (loss) 416 18 404 967
Operating profit margin 2% 0% 4% 7%
EBITDA 5,785 5,383 16,742 3,885
EBITDA margin 28% 26% 173% 30%
Net profit (loss) 659 209 12,344 1,091
Net profit margin 3% 1% 128% 8%
2020-06 2021-06 2022-06 2023-06
Revenue 9,994 4,407 5,838 7,773
Cost of goods sold 7,173 2,530 4,074 6,466
Gross profit (loss) 2,821 1,877 1,764 1,308
Gross profit margin 28% 43% 30% 17%
Operating expenses 2,498 1,581 1,194 706
Operating profit (loss) -11 283 516 202
Operating profit margin -0% 6% 9% 3%
EBITDA 2,638 15,566 1,817 1,502
EBITDA margin 26% 353% 31% 19%
Net profit (loss) 44 11,511 380 339
Net profit margin 0% 261% 7% 4%

* Left axis

** Right axis

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

Balance sheet

2019 2020 2021 2022
Non-current assets 28,917 28,474 22,238 34,243
Intangible assets 189 551 188 328
Tangible assets 28,656 27,863 21,997 29,552
Financial assets 36 40 0 4,109
Other non-current assets 36 20 53 254
Current assets 11,868 27,228 37,154 17,497
Inventories and prepaid expenses 804 600 42 28
Accounts receivable in one year 3,286 3,540 1,175 1,079
Other current assets
Cash and cash equivalents 7,777 23,089 35,938 16,390
Total assets 40,784 55,702 59,392 51,740
Equity 32,117 31,791 45,259 38,305
Grants and subsidies 95
Liabilities 8,487 23,712 14,023 13,200
Financial liabilities 0 1,183 1,159 1,334
Long-term liabilities 6,149 6,339 10,436 10,732
Short-term liabilities 2,338 17,373 3,587 2,468
Equity and liabilities 40,784 55,702 59,392 51,740
2020-06 2021-06 2022-06 2023-06
Non-current assets 27,500 18,596 27,333 38,608
Intangible assets 347 231 265 305
Tangible assets 27,087 18,180 22,426 33,912
Financial assets 29 0 4,587 4,141
Other non-current assets 38 186 54 250
Current assets 12,440 38,547 30,693 14,966
Inventories and prepaid expenses 770 39 32 25
Accounts receivable in one year 3,682 8,716 1,325 2,022
Other current assets 0
Cash and cash equivalents 7,988 29,792 29,335 12,919
Total assets 39,940 57,143 58,026 53,574
Equity 31,287 42,929 45,641 37,681
Grants and subsidies 0 0 98 93
Liabilities 8,462 14,071 12,051 15,602
Financial liabilities 0 0 1,151 1,321
Long-term liabilities 6,241 9,979 10,581 10,703
Short-term liabilities 2,221 4,092 1,471 4,898
Equity and liabilities 39,940 57,143 58,026 53,574

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

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 2% 0% 21% 2%
Return on equity (ROE) 2% 1% 32% 3%
Return on capital employed (ROCE) 1% 0% 1% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.02 0.02 0.03
Current Ratio 5.08 1.57 10.36 7.09
Quick ratio 4.73 1.53 10.35 7.08
Turnover ratios
Asset turnover 0.51 0.37 0.16 0.25
Fixed asset turnover 0.72 0.72 0.43 0.38
Equity turnover 0.65 0.64 0.21 0.34
Profitability ratios
EBITDA margin 28% 26% 173% 30%
Operating profit margin 2% 0% 4% 7%
Net profit margin 3% 1% 128% 8%
Other ratios
Dividends to the State 874.00 373.00 7,639.10 940.20
Dividends paid / net profit 1.33 1.78 0.62 0.86

* Left axis

** Right axis

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

2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 1% 24% 2% 2%
Return on equity (ROE) 1% 31% 3% 3%
Return on capital employed (ROCE) -0% 1% 1% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.02 0.02
Current Ratio 5.60 9.42 20.87 3.06
Quick ratio 5.26 9.41 20.85 3.05
Turnover ratios
Asset turnover 0.25 0.08 0.10 0.15
Fixed asset turnover 0.36 0.24 0.21 0.20
Equity turnover 0.32 0.10 0.13 0.21
Profitability ratios
EBITDA margin 26% 353% 31% 19%
Operating profit margin -0% 6% 9% 3%
Net profit margin 0% 261% 7% 4%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2022 m. 6 mėn. tarpinės ataskaitos 2022 m. metinės ataskaitos
2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos
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. 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. 3 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos
2013 m. 6 mėn. tarpinės ataskaitos 2013 m. 3 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos
2011 m. metinės ataskaitos

Expectations of the state

Letter of Expectations

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

940 EUR thousand

ROE

2.6%

Number of employees

148

Financial data provided as at end-December 2022

Management

  • Remigijus ŠerisChief Executive Officer

Information as of: 2023/11/03

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: 2023/11/03