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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

LITEXPO was registered as a public limited company in 1990 and re-registered in a private limited company in 1995. Since 2006, LITEXPO is also a member of the global exhibition business association UFI. The company carries out the following economic activities: organization of meetings and business events, rent of conference halls, coordination of Lithuanian presentations at world exhibitions, design and preparation of stands, provision of food for events and other related services.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Annual EBITDA:
    • 2022 – (−0,7) ml. Eur,
    • 2023 ≥ 0,3 ml. Eur,
    • 2024 ≥ 1,3 ml. Eur
  • Annual ratio of financial debt to equity:
    • 2022 ≤ 1,6 times,
    • 2023–2024 limit 0,6–1,4 times.

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • Customer satisfaction rate:
    • 2022 – 20
    • 2023 -25
    • 2024 – 30
  • Percentage of employees who positively assess the work environment:
    • 2022 – 85
    • 2023 – 90
    • 2024 – 94
  • Net profit, ml. EUR:
    • 2022 – (-1,65)
    • 2023 – (-0,7)
    • 2024 – 0,3
  • Sales revenue, ml. EUR::
    • 2022 ≥ 3,3
    • 2023 ≥ 4,6
    • 2024 ≥ 6,0

          2020 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

2018 2019 2020 2021
Revenue 7,349 6,058 2,237 1,242
Cost of goods sold 5,007 4,191 2,682 2,074
Gross profit (loss) 2,341 1,867 -446 -832
Gross profit margin 32% 31% -20% -67%
Operating expenses 1,269 1,134 3,427 1,795
Operating profit (loss) 1,073 733 -3,873 -2,627
Operating profit margin 15% 12% -173% -212%
EBITDA 1,952 1,628 -2,949 -1,738
EBITDA margin 27% 27% -132% -140%
Net profit (loss) 934 599 -3,779 -2,486
Net profit margin 13% 10% -169% -200%
2018-06 2019-06 2020-06 2021-06
Revenue 5,025 4,205 1,844 232
Cost of goods sold 2,843 2,151 1,665 785
Gross profit (loss) 2,183 2,054 179 -553
Gross profit margin % % 49% -238%
Operating expenses 552 566 354 278
Operating profit (loss) 1,631 1,488 -176 -831
Operating profit margin % % 35% -358%
EBITDA 1,930 -421
EBITDA margin % % 46% -182%
Net profit (loss) 1,371 1,250 -211 -875
Net profit margin % % 30% -377%

* Left axis

** Right axis

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

Balance sheet

2018 2019 2020 2021
Non-current assets 19,486 18,867 15,395 14,008
Intangible assets 43 21 13 6
Tangible assets 19,427 18,838 15,210 13,292
Financial assets 16 8 289
Other non-current assets 171 421
Current assets 1,059 740 145 133
Inventories and prepaid expenses 44 20 15 20
Accounts receivable in one year 448 223 86 74
Other current assets
Cash and cash equivalents 567 497 45 39
Total assets 20,603 19,668 15,572 14,174
Equity 12,066 11,937 8,100 5,614
Grants and subsidies 1,874 1,775 1,706 1,638
Liabilities 6,584 5,915 5,759 6,892
Financial liabilities 5,726 4,771 4,758 5,694
Long-term liabilities 4,771 4,169 55 5,847
Short-term liabilities 1,812 1,746 5,704 1,046
Equity and liabilities 20,603 19,668 15,572 14,174
2019-06 2020-06 2021-06
Non-current assets 19,127 18,463 17,549
Intangible assets 29 18 9
Tangible assets 19,082 18,436 17,540
Financial assets 16 8
Other non-current assets
Current assets 1,092 933 161
Inventories and prepaid expenses 55 23 15
Accounts receivable in one year 307 125 115
Other current assets
Cash and cash equivalents 730 785 31
Total assets 20,291 19,458 17,741
Equity 12,588 11,669 9,827
Grants and subsidies 1,824 1,741 1,672
Liabilities 5,878 6,048 6,227
Financial liabilities 4,771 4,470 892
Long-term liabilities 4,771 4,470 336
Short-term liabilities 477 101 4,169
Equity and liabilities 20,291 19,458 17,741

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

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 5% 3% -21% -17%
Return on equity (ROE) 8% 5% -38% -36%
Return on capital employed (ROCE) 12% 8% -78% -40%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.47 0.40 0.59 1.01
Current Ratio 0.58 0.42 0.03 0.13
Quick ratio 0.56 0.41 0.02 0.11
Turnover ratios
Asset turnover 0.36 0.30 0.13 0.08
Fixed asset turnover 0.38 0.32 0.13 0.08
Equity turnover 0.62 0.50 0.22 0.18
Profitability ratios
EBITDA margin 27% 27% -132% -140%
Operating profit margin 15% 12% -173% -212%
Net profit margin 13% 10% -169% -200%
Other ratios
Dividends to the State 719.27 49.78 0.79
Dividends paid / net profit 0.77 0.08 0.00

* 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) 4% % % -10%
Return on equity (ROE) 6% % % -17%
Return on capital employed (ROCE) 9% -4% 16% -12%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.51 0.39 0.51
Current Ratio 0.45 2.29 9.28 0.04
Quick ratio 0.43 2.17 9.05 0.03
Turnover ratios
Asset turnover 0.33 0.41 0.09 0.01
Fixed asset turnover 0.35 0.44 0.10 0.01
Equity turnover 0.53 0.67 0.15 0.02
Profitability ratios
EBITDA margin 25% % 46% -182%
Operating profit margin 13% % 35% -358%
Net profit margin 12% % 30% -377%
Other ratios
Dividends to the State 492.42
Dividends paid / net profit 0.70

Financial statments

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. 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. 3 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos 2012 m. 9 mėn. tarpinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos
2010 m. metinės ataskaitos
2011 m. metinės ataskaitos

Expectations of the state

Target return on equity undefined

Letter of Expectations

About the company

  • Official nameUAB Lietuvos parodų ir kongresų centras „LITEXPO“
  • Legal formPrivate limited liability company (UAB)
  • Company code120080713
  • SectorOther
  • Line of businessOrganizing exhibitions, conferences and other events
  • Institution representing the StateMinistry of the Economy and Innovation
  • Share belonging to the State98.76%
http://litexpo.lt/
ROE

-36.2%

Number of employees

70

Financial data provided as at end-December 2021

Management

  • Justinas BortkevičiusDirector General

Information as of: 2022/09/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Ramutė RibinskienėUAB Utenos šilumos tinklai; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Mantas DubauskasAB Lietuvos geležinkeliai, Independent member
  • Žilvinas PakeltisVšĮ Blockchain Centre Vilnius; Independent member
  • Aleksandras GolodAB Telia Lietuva; Independent member
  • Rūta SteckienėMinistry of the Economy and Innovation

Information as of: 2022/09/01