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Valdymo koordinavimo centras

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.

Financial results

P/L Statment

2016 2017 2018 2019
Revenue 612 650 695 663
Cost of goods sold 339 338 477 406
Gross profit (loss) 273 312 218 257
Gross profit margin 45% 48% 31% 39%
Operating expenses 270 268 207 240
Operating profit (loss) 3 44 11 17
Operating profit margin 0% 7% 2% 3%
EBITDA 141 141 106 112
EBITDA margin 23% 22% 15% 17%
Net profit (loss) 25 24 3 8
Net profit margin 4% 4% 0% 1%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 311 342 296 341
Cost of goods sold 671 705 326 316
Gross profit (loss) -361 -363 -30 25
Gross profit margin -116% -106% -10% 7%
Operating expenses 126 120 118 125
Operating profit (loss) -486 -483 -149 -100
Operating profit margin -157% -141% -50% -29%
EBITDA 12 -33 -100 -48
EBITDA margin 4% -10% -34% -14%
Net profit (loss) -153 -101
Net profit margin -7% -11% -52% -30%

Balance sheet

2016 2017 2018 2019
Non-current assets 1,315 1,288 1,199 1,130
Intangible assets 1 1 0
Tangible assets 830 836 749 652
Financial assets 3 1
Other non-current assets 481 451 449 478
Biological assets
Current assets 772 784 901 886
Inventories and prepaid expenses 488 489 637 684
Accounts receivable in one year 255 276 126 103
Other current assets
Cash and cash equivalents 29 20 138 99
Total assets 2,124 2,093 2,109 2,020
Equity 1,554 1,564 1,546 1,548
Minority share of capital
Grants and subsidies 126 103 83 62
Liabilities 444 427 481 409
Financial liabilities 97 90 57 32
Long-term liabilities 123 95 51 10
Short-term liabilities 321 333 430 399
Equity and liabilities 2,124 2,094 2,109 2,020
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 1,520 1,457 1,118 1,099
Intangible assets 1 0
Tangible assets 803 791 699 666
Financial assets 16
Other non-current assets 1 419 434
Biological assets 700 665
Current assets 1,009 678 1,008 1,057
Inventories and prepaid expenses 211 242 568 671
Accounts receivable in one year 684 255 260 267
Other current assets
Cash and cash equivalents 114 181 180 119
Total assets 2,529 2,135 2,134 2,163
Equity 1,485 1,458 1,387 1,440
Minority share of capital
Grants and subsidies 552 93 73 52
Liabilities 492 584 674 671
Financial liabilities 122 211 44 72
Long-term liabilities 159 95 51 58
Short-term liabilities 333 490 624 613
Equity and liabilities 2,529 2,135 2,134 2,163

Financial ratios

2016 2017 2018 2019
Capital return ratios
Return on assets (ROA) 1% 1% 0% 0%
Return on equity (ROE) 2% 2% 0% 1%
Return on capital employed (ROCE) 4% 4% 1% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.06 0.06 0.04 0.02
Current Ratio 2.41 2.36 2.09 2.22
Quick ratio 0.89 0.89 0.61 0.50
Turnover ratios
Asset turnover 0.28 0.31 0.33 0.32
Fixed asset turnover 0.49 0.50 0.56 0.57
Equity turnover 0.40 0.42 0.45 0.43
Profitability ratios
EBITDA margin 23% 22% 15% 17%
Operating profit margin 0% 7% 2% 3%
Net profit margin 4% 4% 0% 1%
Other ratios
Dividends to the State 12.37 18.64 4.66 6.63
Dividends paid / net profit 0.49 0.78 1.61 0.83
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) 1% -0% -3% 3%
Return on equity (ROE) 2% -0% -5% 4%
Return on capital employed (ROCE) 4% -10% -20% -12%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.06 0.14 0.18 0.19
Current Ratio 2.36 1.39 1.62 1.72
Quick ratio 0.89 0.89 0.71 0.63
Turnover ratios
Asset turnover 0.31 0.15 0.14 0.16
Fixed asset turnover 0.50 0.23 0.23 0.31
Equity turnover 0.42 0.23 0.21 0.24
Profitability ratios
EBITDA margin 22% -10% -34% -14%
Operating profit margin 7% -141% -50% -29%
Net profit margin 4% -11% -52% -30%
Other ratios
Dividends to the State 18.64
Dividends paid / net profit 0.78

Expectations of the state

Target return on equity

5.2%

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/
Return to the State

7 EUR thousand

ROE

0.5%

Number of employees

77

Financial data provided as at end-December 2019

Management

  • L. e. p. Regina GražulienėDirector General

Information as of: 2020/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Rūta SlidžiauskaitėMinistry of Agriculture

MEMBERS OF THE BOARD OF DIRECTORS

  • Raminta SakalauskienėLithuanian Trakehner Breeders Association; Independent member
  • Tadas ŠvilpauskasMinistry of Agriculture
  • Aloyzas JaciunskasAlytus District municipality; Independent member
  • Petras JurkuvėnasMutter Charity Foundation; Independent member
  • Jūratė VitkutėMinistry of Agriculture

Information as of: 2020/10/01