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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB Lietuvos veislininkystė was established in 2012 January 2, after reorganization of AB Marijampolės regiono veislininkystė and AB Šiaulių regiono veislininkystė. Company keeps the most popular bull breeds of Lithuanian and Western countries and their accumulated sperm.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average net profitability:
    • 2022–2024 ≥ 7,0 percent.
  • Annual ratio of total liabilities to equity:
    • 2022–2024 limit 0,15–0,2 times

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • Investment in technical and technological modernization, thousand EUR.:
    • 2022 – 86
    • 2023 – 54
    • 2024 – 51
  • Bull semen production, thousand dose unit:
    • 2022 – 2024 – every year 120
  • Evaluation of bulls according to progeny productivity, units:
    • 2022-2024 – every year 10
  • Number of employees, units:
    • 2022-2024  – 40

          2020 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 1,489 1,628 1,787 1,970
Cost of goods sold 706 771 853 949
Gross profit (loss) 783 858 934 1,021
Gross profit margin 53% 53% 52% 52%
Operating expenses 738 805 883 936
Operating profit (loss) 45 52 51 85
Operating profit margin 3% 3% 3% 4%
EBITDA 166 175 178 258
EBITDA margin 11% 11% 10% 13%
Net profit (loss) 110 125 137 211
Net profit margin 7% 8% 8% 11%
2018-06 2019-06 2020-06 2021-06
Revenue 722 812 869 970
Cost of goods sold 344 366 410 470
Gross profit (loss) 378 446 459 499
Gross profit margin % % 55% 52%
Operating expenses 248 303 259 313
Operating profit (loss) 130 143 200 187
Operating profit margin % % 18% 19%
EBITDA 170 235
EBITDA margin % % 21% 24%
Net profit (loss) 136 151 212 219
Net profit margin % % 19% 23%

Balance sheet

2018 2019 2020 2021
Non-current assets 225 225 198 216
Intangible assets
Tangible assets 172 155 139 151
Financial assets 0 0 0 0
Other non-current assets 53 69 59 65
Current assets 1,508 1,587 1,750 1,876
Inventories and prepaid expenses 949 999 1,056 1,114
Accounts receivable in one year 197 218 233 238
Other current assets
Cash and cash equivalents 362 371 462 523
Total assets 1,738 1,817 1,951 2,095
Equity 1,516 1,560 1,607 1,717
Grants and subsidies
Liabilities 222 257 344 378
Financial liabilities
Long-term liabilities
Short-term liabilities 222 257 344 378
Equity and liabilities 1,738 1,817 1,951 2,095
2019-06 2020-06 2021-06
Non-current assets 242 205 215
Intangible assets
Tangible assets 167 140 149
Financial assets 0 0 0
Other non-current assets 74 65 66
Current assets 1,644 1,709 1,919
Inventories and prepaid expenses 1,026 1,124 1,257
Accounts receivable in one year 362 354 306
Other current assets
Cash and cash equivalents 256 230 355
Total assets 1,890 1,924 2,138
Equity 1,585 1,682 1,726
Grants and subsidies
Liabilities 305 241 413
Financial liabilities
Long-term liabilities
Short-term liabilities
Equity and liabilities 1,890 1,924 2,138

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 6% 7% 7% 10%
Return on equity (ROE) 7% 8% 9% 13%
Return on capital employed (ROCE) 17% 18% 19% 27%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 6.78 6.17 5.09 4.97
Quick ratio 2.51 2.29 2.02 2.02
Turnover ratios
Asset turnover 0.85 0.92 0.95 0.97
Fixed asset turnover 6.14 7.24 8.45 9.51
Equity turnover 0.99 1.06 1.13 1.18
Profitability ratios
EBITDA margin 11% 11% 10% 13%
Operating profit margin 3% 3% 3% 4%
Net profit margin 7% 8% 8% 11%
Other ratios
Dividends to the State 81.04 88.26 99.54 159.01
Dividends paid / net profit 0.73 0.70 0.73 0.75
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) 5% % % 7%
Return on equity (ROE) 6% % % 8%
Return on capital employed (ROCE) 13% -2% 16% 21%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 5.63
Quick ratio 2.30
Turnover ratios
Asset turnover 0.74 0.86 0.46 0.48
Fixed asset turnover 4.59 6.72 3.89 4.62
Equity turnover 0.85 1.02 0.53 0.57
Profitability ratios
EBITDA margin 11% % 21% 24%
Operating profit margin 2% % 18% 19%
Net profit margin 7% % 19% 23%
Other ratios
Dividends to the State 78.37
Dividends paid / net profit 0.86

Expectations of the state

Target return on equity undefined

About the company

  • Official nameAB „Lietuvos veislininkystė“
  • Legal formPublic limited liability company (AB)
  • Company code302705528
  • SectorOther
  • Line of businessAnimal husbandry
  • Institution representing the StateMinistry of Agriculture
  • Share belonging to the State99%
http://www.veislita.lt/
Return to the State

159 EUR thousand

ROE

12.7%

Number of employees

34

Financial data provided as at end-December 2021

Management

  • Gediminas ValiulisDirector General

Information as of: 2022/09/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Ligita RalienėIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Karolis TvaskusMinistry of Agriculture
  • Modestas VažnevičiusMinistry of Agriculture
  • Petras JurkuvėnasVšĮ Mutter Charity Foundation, UAB PJ LT; Independent member
  • Giedrius PalubinskasLSMU; Independent member

Information as of: 2022/09/01