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

	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%

* 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

	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

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

Financial ratios

Annual
Semi-annual

	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

* Left axis

** Right axis

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

	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

Financial statments

2020 m. 6 mėn. tarpinės 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/

Return to the State

7 EUR thousand

ROE

0.5%

Number of employees

Financial data provided as at end-December 2019

State Owned Enterprises