Lietuvos žirgynas

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

	2017	2018	2019	2020
Revenue	650	695	663	734
Cost of goods sold	338	477	406	630
Gross profit (loss)	312	218	257	105
Gross profit margin	48%	31%	39%	14%
Operating expenses	268	207	240	247
Operating profit (loss)	44	11	17	-143
Operating profit margin	7%	2%	3%	-19%
EBITDA	141	106	112	-34
EBITDA margin	22%	15%	17%	-5%
Net profit (loss)	24	3	8	-150
Net profit margin	4%	0%	1%	-20%

	2018-06	2019-06	2020-06	2021-06
Revenue	342	296	341	389
Cost of goods sold	303	326	316	387
Gross profit (loss)	39	-30	25	2
Gross profit margin	%	%	-10%	1%
Operating expenses	120	118	125	102
Operating profit (loss)	-81	-149	-100	-100
Operating profit margin	%	%	-50%	-26%
EBITDA			-100	-39
EBITDA margin	%	%	-34%	-10%
Net profit (loss)	-85	-153	-101	-103
Net profit margin	%	%	-52%	-26%

* Left axis

** Right axis

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

Balance sheet

Annual
Semi-annual

	2017	2018	2019	2020
Non-current assets	1,288	1,199	1,130	1,146
Intangible assets	1	0
Tangible assets	836	749	652	659
Financial assets	1
Other non-current assets	451	449	478	486
Current assets	784	901	886	1,268
Inventories and prepaid expenses	489	637	684	702
Accounts receivable in one year	276	126	103	105
Other current assets
Cash and cash equivalents	20	138	99	461
Total assets	2,093	2,109	2,020	2,418
Equity	1,564	1,546	1,548	1,391
Grants and subsidies	103	83	62	95
Liabilities	427	481	409	933
Financial liabilities	90	57	32	507
Long-term liabilities	95	51	10	274
Short-term liabilities	333	430	399	658
Equity and liabilities	2,094	2,109	2,020	2,418

	2019-06	2020-06	2021-06
Non-current assets	1,118	1,099	1,052
Intangible assets
Tangible assets	699	666	604
Financial assets
Other non-current assets	419	434	448
Current assets	1,008	1,057	1,192
Inventories and prepaid expenses	568	671	620
Accounts receivable in one year	260	267	237
Other current assets
Cash and cash equivalents	180	119	334
Total assets	2,134	2,163	2,252
Equity	1,387	1,440	1,288
Grants and subsidies	73	52	87
Liabilities	674	671	876
Financial liabilities	232	258	484
Long-term liabilities	51	58	274
Short-term liabilities	12	14	7
Equity and liabilities	2,134	2,163	2,252

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

Financial ratios

Annual
Semi-annual

	2017	2018	2019	2020
Capital return ratios
Return on assets (ROA)	1%	0%	0%	-7%
Return on equity (ROE)	2%	0%	1%	-10%
Return on capital employed (ROCE)	4%	1%	2%	-16%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.06	0.04	0.02	0.36
Current Ratio	2.36	2.09	2.22	1.93
Quick ratio	0.89	0.61	0.50	0.86
Turnover ratios
Asset turnover	0.31	0.33	0.32	0.33
Fixed asset turnover	0.50	0.56	0.57	0.65
Equity turnover	0.42	0.45	0.43	0.50
Profitability ratios
EBITDA margin	22%	15%	17%	-5%
Operating profit margin	7%	2%	3%	-19%
Net profit margin	4%	0%	1%	-20%
Other ratios
Dividends to the State	18.64	4.66	6.63
Dividends paid / net profit	0.78	1.61	0.83

* Left axis

** Right axis

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

	2018-06	2019-06	2020-06	2021-06
Capital return ratios
Return on assets (ROA)	1%	%	%	-7%
Return on equity (ROE)	2%	%	%	-11%
Return on capital employed (ROCE)	4%	-5%	-14%	-8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.06		0.19	0.38
Current Ratio	2.36	84.07	74.98	167.83
Quick ratio	0.89	36.70	27.37	80.46
Turnover ratios
Asset turnover	0.31	0.28	0.16	0.18
Fixed asset turnover	0.50	0.53	0.31	0.36
Equity turnover	0.42	0.43	0.24	0.29
Profitability ratios
EBITDA margin	22%	%	-34%	-10%
Operating profit margin	7%	%	-50%	-26%
Net profit margin	4%	%	-52%	-26%
Other ratios
Dividends to the State	18.64
Dividends paid / net profit	0.78

Financial statments

2021 m. 6 mėn. tarpinės 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

Target return on equity

5.2%

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

-10.2%

Number of employees

Financial data provided as at end-December 2020

Management

Felicija KlemickaitėDirector General

Information as of: 2021/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

Andrius BurlėgaMinistry of Agriculture

MEMBERS OF THE BOARD OF DIRECTORS

Vygantas KatkevičiusMinistry of Agriculture

Ilona DaugėlaitėIndependent member

Petras JurkuvėnasMutter Charity Foundation; Independent member