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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

On June 2012 UAB “Vilniaus žirgynas”, UAB “Sartų žirgynas” and UAB “Nemuno žirgynas” were reorganized by merge into UAB “Lietuvos žirgynas”. The company carries out specialized horse breeding, its raising and sales function, cultivates and maintains the minimum number of horses for each breed, cultivates breeding horses for Lithuanian horse breeders, organizes events for breeding competition and assesses performance and sporting characteristics of horses, participates in various programs, provides various horse breeding and consulting services.

      2023/24 GOOD CORPORATE GOVERNANCE INDEX

                       

      2022/23 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

2020 2021 2022 2023
Revenue 734 745 915 860
Cost of goods sold 630 512 669 697
Gross profit (loss) 104 232 246 164
Gross profit margin 14% 31% 27% 19%
Operating expenses 233 200 247 232
Operating profit (loss) -143 31 -2 -70
Operating profit margin -19% 4% -0% -8%
EBITDA -34 146 121 56
EBITDA margin -5% 20% 13% 6%
Net profit (loss) -150 20 -10 -85
Net profit margin -20% 3% -1% -10%
2021-06 2022-06 2023-06 2024-06
Revenue 389 428 420 465
Cost of goods sold 387 508 430 408
Gross profit (loss) 2 -80 -10 56
Gross profit margin 1% -19% -2% 12%
Operating expenses 101 121 113 149
Operating profit (loss) -100 -201 -124 -94
Operating profit margin -26% -47% -29% -20%
EBITDA -36 -135 -62 -3
EBITDA margin -9% -32% -15% -1%
Net profit (loss) -103 -204 -130 -71
Net profit margin -26% -48% -31% -15%

* Left axis

** Right axis

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

Balance sheet

2020 2021 2022 2023
Non-current assets 1,146 1,157 1,198 1,144
Intangible assets
Tangible assets 659 544 590 468
Financial assets 0
Other non-current assets 486 614 609 676
Current assets 1,268 1,193 1,319 1,221
Inventories and prepaid expenses 702 752 975 942
Accounts receivable in one year 105 120 111 113
Other current assets 0
Cash and cash equivalents 461 321 233 166
Total assets 2,418 2,352 2,522 2,366
Equity 1,391 1,411 1,401 1,316
Grants and subsidies 95 79 64 48
Liabilities 933 861 1,057 1,002
Financial liabilities 297 163 449 406
Long-term liabilities 274 151 61 177
Short-term liabilities 658 711 996 824
Equity and liabilities 2,418 2,352 2,522 2,366
2021-06 2022-06 2023-06 2024-06
Non-current assets 1,052 1,170 1,091 665
Intangible assets 0 0 0
Tangible assets 604 611 534 421
Financial assets 0 0 0
Other non-current assets 448 559 557 245
Current assets 8 8 11 18
Inventories and prepaid expenses 620 755 967 1,286
Accounts receivable in one year 237 241 248 223
Other current assets 0 0 0
Cash and cash equivalents 334 52 25 69
Total assets 2,252 2,226 2,342 2,261
Equity 1,288 1,207 1,271 1,246
Grants and subsidies 87 72 56 41
Liabilities 876 947 1,015 974
Financial liabilities 281 304 74 192
Long-term liabilities 274 220 61 177
Short-term liabilities 602 728 954 797
Equity and liabilities 2,252 2,226 2,342 2,261

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

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) -7% 1% -0% -3%
Return on equity (ROE) -10% 1% -1% -6%
Return on capital employed (ROCE) -9% 2% -0% -5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.21 0.21 0.18 0.17
Current Ratio 1.93 1.68 1.32 1.48
Quick ratio 0.86 0.62 0.35 0.34
Turnover ratios
Asset turnover 0.30 0.32 0.36 0.36
Fixed asset turnover 0.64 0.64 0.76 0.75
Equity turnover 0.53 0.53 0.65 0.65
Profitability ratios
EBITDA margin -5% 20% 13% 6%
Operating profit margin -19% 4% -0% -8%
Net profit margin -20% 3% -1% -10%
Other ratios
Dividends to the State 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00 0.00

* Left axis

** Right axis

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

2021-06 2022-06 2023-06 2024-06
Capital return ratios
Return on assets (ROA) -7% -4% 3% -1%
Return on equity (ROE) -11% -7% 5% -2%
Return on capital employed (ROCE) -6% -14% -9% -7%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.22 0.23 0.19 0.17
Current Ratio 1.98 1.44 1.30 1.98
Quick ratio 0.95 0.40 0.29 0.37
Turnover ratios
Asset turnover 0.17 0.19 0.18 0.21
Fixed asset turnover 0.37 0.37 0.39 0.70
Equity turnover 0.30 0.35 0.33 0.37
Profitability ratios
EBITDA margin -9% -32% -15% -1%
Operating profit margin -26% -47% -29% -20%
Net profit margin -26% -48% -31% -15%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2023 m. 6 mėn. tarpinės ataskaitos 2023 m. metinės ataskaitos
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. metinės ataskaitos 2016 m. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės ataskaitos
2015 m. metinės 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. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos

Expectations of the state

Key performance indicator
Letter of Expectations

About the company

  • Official nameUAB „Lietuvos žirgynas“
  • Legal formPrivate limited liability company (UAB)
  • Company code302795881
  • SectorOther
  • Line of businessHorse stud farm
  • Institution representing the StateMinistry of Agriculture
  • Share belonging to the State89.61%
http://www.lietuvoszirgynas.lt/
ROE

-6.2%

Number of employees

73

Financial data provided as at end-December 2023

Management

  • Felicija KelmickaitėChief Executive officer

Information as of: 2024/11/04

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Juozas RinkevičiusIndependent member; Chief specialist of the Special Training Department of the Customs Training Center

MEMBERS OF THE BOARD OF DIRECTORS

  • Andrius BurlėgaMinistry of Agriculture; UAB Pieno tyrimai
  • Ignas KišvinasMinistry of Agriculture
  • Lina ŠiumetėIndependent member; Coherent Solutions, UAB
  • Evaldas PocevičiusIndependent member; Via Lietuva, AB

Information as of: 2024/11/04

VMU
ltg
RC
LP
TB
IGN
KN
IAE
EPSO