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.
KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024
- Average annual net profitability:
- 2022–2024 ≥ 2,4 percent.
- Annual ratio of total liabilities to equity:
- 2022–2024 ≤ 0,7 times
- 2022–2024 ≤ 0,7 times
TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025
- Income received from horses sold, thousand EUR:
- 2023-2025 ever year 425,6
- Number of Lithuanian breed horses of the genetic resources program bred and bred in the company, units:
- 2023-2025 ≥ 537
- Number of organized equestrian events, units:
- 2023-2025 ≥ 10
- Good Governance Index:
- 2023 – A-
- 2024-2025 – A
- Revenue from organized entertainment events, thousand EUR:
- 2023 – 121,9
- 2024 – 127,7
- 2025 – 133,9
2021/22 GOOD CORPORATE GOVERNANCE INDEX
2020/21 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
| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Revenue | 663 | 734 | 745 | 915 |
| Cost of goods sold | 406 | 630 | 512 | 669 |
| Gross profit (loss) | 257 | 104 | 232 | 246 |
| Gross profit margin | 39% | 14% | 31% | 27% |
| Operating expenses | 222 | 233 | 200 | 247 |
| Operating profit (loss) | 17 | -143 | 31 | -2 |
| Operating profit margin | 3% | -19% | 4% | -0% |
| EBITDA | 112 | -34 | 146 | 121 |
| EBITDA margin | 17% | -5% | 20% | 13% |
| Net profit (loss) | 8 | -150 | 20 | -10 |
| Net profit margin | 1% | -20% | 3% | -1% |
| 2019-06 | 2020-06 | 2021-06 | 2022-06 | |
|---|---|---|---|---|
| Revenue | 296 | 341 | 389 | 428 |
| Cost of goods sold | 326 | 316 | 387 | 508 |
| Gross profit (loss) | -30 | 25 | 2 | -80 |
| Gross profit margin | % | % | % | % |
| Operating expenses | 118 | 125 | 102 | 121 |
| Operating profit (loss) | -149 | -100 | -100 | -201 |
| Operating profit margin | % | % | % | % |
| EBITDA | -100 | -48 | -36 | -135 |
| EBITDA margin | -34% | -14% | -9% | -32% |
| Net profit (loss) | -153 | -101 | -103 | -204 |
| Net profit margin | -52% | -30% | -26% | -48% |
Balance sheet
| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Non-current assets | 1,130 | 1,146 | 1,157 | 1,198 |
| Intangible assets | 0 | |||
| Tangible assets | 652 | 659 | 544 | 590 |
| Financial assets | 0 | 0 | ||
| Other non-current assets | 478 | 486 | 614 | 609 |
| Current assets | 886 | 1,268 | 1,193 | 1,319 |
| Inventories and prepaid expenses | 684 | 702 | 752 | 975 |
| Accounts receivable in one year | 103 | 105 | 120 | 111 |
| Other current assets | 0 | 0 | ||
| Cash and cash equivalents | 99 | 461 | 321 | 233 |
| Total assets | 2,020 | 2,418 | 2,352 | 2,522 |
| Equity | 1,548 | 1,391 | 1,411 | 1,401 |
| Grants and subsidies | 62 | 95 | 79 | 64 |
| Liabilities | 409 | 933 | 861 | 1,057 |
| Financial liabilities | 32 | 297 | 163 | 88 |
| Long-term liabilities | 10 | 274 | 151 | 61 |
| Short-term liabilities | 399 | 658 | 711 | 996 |
| Equity and liabilities | 2,020 | 2,418 | 2,352 | 2,522 |
| 2020-06 | 2021-06 | 2022-06 | |
|---|---|---|---|
| Non-current assets | 1,099 | 1,052 | 1,170 |
| Intangible assets | |||
| Tangible assets | 666 | 604 | 611 |
| Financial assets | |||
| Other non-current assets | 434 | 448 | 559 |
| Current assets | 1,057 | 1,192 | 1,048 |
| Inventories and prepaid expenses | 671 | 620 | 755 |
| Accounts receivable in one year | 267 | 237 | 241 |
| Other current assets | |||
| Cash and cash equivalents | 119 | 334 | 52 |
| Total assets | 2,163 | 2,252 | 2,226 |
| Equity | 1,440 | 1,288 | 1,207 |
| Grants and subsidies | 52 | 87 | 72 |
| Liabilities | 671 | 876 | 947 |
| Financial liabilities | 272 | 491 | 504 |
| Long-term liabilities | 58 | 274 | 220 |
| Short-term liabilities | 613 | 602 | 728 |
| Equity and liabilities | 2,163 | 2,252 | 2,226 |
Financial ratios
| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 0% | -7% | 1% | -0% |
| Return on equity (ROE) | 1% | -10% | 1% | -1% |
| Return on capital employed (ROCE) | 1% | -9% | 2% | -0% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.02 | 0.21 | 0.21 | 0.18 |
| Current Ratio | 2.22 | 1.93 | 1.68 | 1.32 |
| Quick ratio | 0.50 | 0.86 | 0.62 | 0.35 |
| Turnover ratios | ||||
| Asset turnover | 0.33 | 0.30 | 0.32 | 0.36 |
| Fixed asset turnover | 0.59 | 0.64 | 0.64 | 0.76 |
| Equity turnover | 0.43 | 0.53 | 0.53 | 0.65 |
| Profitability ratios | ||||
| EBITDA margin | 17% | -5% | 20% | 13% |
| Operating profit margin | 3% | -19% | 4% | -0% |
| Net profit margin | 1% | -20% | 3% | -1% |
| Other ratios | ||||
| Dividends to the State | 6.63 | 0.00 | 0.00 | 0.00 |
| Dividends paid / net profit | 0.83 | 0.00 | 0.00 | 0.00 |
| 2019-06 | 2020-06 | 2021-06 | 2022-06 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 0% | % | -6% | -4% |
| Return on equity (ROE) | 1% | % | -11% | -7% |
| Return on capital employed (ROCE) | 2% | -12% | -12% | -26% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.02 | 0.38 | 0.34 | 0.42 |
| Current Ratio | 2.22 | 1.72 | 1.98 | 1.44 |
| Quick ratio | 0.50 | 0.63 | 0.95 | 0.40 |
| Turnover ratios | ||||
| Asset turnover | 0.32 | 0.32 | 0.18 | 0.19 |
| Fixed asset turnover | 0.57 | 0.62 | 0.36 | 0.39 |
| Equity turnover | 0.43 | 0.47 | 0.29 | 0.34 |
| Profitability ratios | ||||
| EBITDA margin | 17% | -14% | -9% | -32% |
| Operating profit margin | 3% | % | % | % |
| Net profit margin | 1% | -30% | -26% | -48% |
| Other ratios | ||||
| Dividends to the State | 6.63 | |||
| Dividends paid / net profit | 0.83 |
Financial statments
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
Expectations of the state
Target return on equity undefined
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%
ROE
-0.7%
Number of employees
78
Financial data provided as at end-December 2022
Management
- Andrius BielinisChief Executive officer
Information as of: 2023/09/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Petras JurkuvėnasUAB PJ LT; Independent member
MEMBERS OF THE BOARD OF DIRECTORS
- Andrius BurlėgaMinistry of Agriculture
- Ilona DaugėlaitėBank of Lithuania; Independent member
- Ignas KišvinasMinistry of Agriculture
- Juozas RinkevičiusChief specialist of the Special Training Department of the Customs Training Center; Independent member
Information as of: 2023/09/01
