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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

          2022/23 GOOD CORPORATE GOVERNANCE INDEX

              

        2021/22 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 6,058 2,237 1,242 4,207
Cost of goods sold 4,191 2,682 2,074 3,963
Gross profit (loss) 1,867 -446 -832 244
Gross profit margin 31% -20% -67% 6%
Operating expenses 1,088 3,377 1,784 884
Operating profit (loss) 733 -3,873 -2,624 -650
Operating profit margin 12% -173% -211% -15%
EBITDA 1,628 -2,949 -1,895 32
EBITDA margin 27% -132% -153% 1%
Net profit (loss) 599 -3,779 -2,482 -783
Net profit margin 10% -169% -200% -19%
2020-06 2021-06 2022-06 2023-06
Revenue 1,844 232 2,543 4,113
Cost of goods sold 1,665 785 1,983 2,468
Gross profit (loss) 179 -553 559 1,645
Gross profit margin 10% -238% 22% 40%
Operating expenses 338 275 386 558
Operating profit (loss) -176 -831 169 1,081
Operating profit margin -10% -358% 7% 26%
EBITDA 254 -421 574 1,404
EBITDA margin 14% -182% 23% 34%
Net profit (loss) -211 -875 40 733
Net profit margin -11% -377% 2% 18%

* Left axis

** Right axis

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

Balance sheet

2019 2020 2021 2022
Non-current assets 18,867 15,395 14,010 13,417
Intangible assets 21 13 6 3
Tangible assets 18,838 15,210 13,292 12,558
Financial assets 8 0 292 289
Other non-current assets 0 171 421 567
Current assets 740 145 130 1,819
Inventories and prepaid expenses 20 15 20 53
Accounts receivable in one year 223 86 74 336
Other current assets 0 0 0 0
Cash and cash equivalents 497 45 35 1,430
Total assets 19,668 15,572 14,173 15,278
Equity 11,937 8,100 5,614 4,831
Grants and subsidies 1,775 1,706 1,638 1,569
Liabilities 5,915 5,759 6,891 8,837
Financial liabilities 4,771 4,758 5,468 5,468
Long-term liabilities 4,169 55 5,847 5,644
Short-term liabilities 1,746 5,704 1,044 3,193
Equity and liabilities 19,668 15,572 14,173 15,278
2020-06 2021-06 2022-06 2023-06
Non-current assets 18,463 17,549 13,634 13,176
Intangible assets 18 9 5 3
Tangible assets 18,436 17,540 12,919 12,422
Financial assets 8 0 289 289
Other non-current assets 0 0 421 462
Current assets 933 161 140 2,467
Inventories and prepaid expenses 23 15 18 294
Accounts receivable in one year 125 115 74 658
Other current assets 0 0 0 0
Cash and cash equivalents 785 31 48 1,515
Total assets 19,458 17,741 13,812 15,740
Equity 11,669 9,827 5,653 7,564
Grants and subsidies 1,741 1,672 1,603 1,535
Liabilities 6,048 6,227 6,521 6,579
Financial liabilities 4,571 5,061 5,645 5,468
Long-term liabilities 4,470 336 5,847 5,644
Short-term liabilities 1,578 5,891 674 936
Equity and liabilities 19,458 17,741 13,812 15,740

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

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 3% -21% -17% -5%
Return on equity (ROE) 5% -38% -36% -15%
Return on capital employed (ROCE) 5% -47% -23% -6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.24 0.31 0.40 0.36
Current Ratio 0.42 0.03 0.12 0.57
Quick ratio 0.41 0.02 0.11 0.55
Turnover ratios
Asset turnover 0.31 0.14 0.09 0.28
Fixed asset turnover 0.32 0.15 0.09 0.31
Equity turnover 0.51 0.28 0.22 0.87
Profitability ratios
EBITDA margin 27% -132% -153% 1%
Operating profit margin 12% -173% -211% -15%
Net profit margin 10% -169% -200% -19%
Other ratios
Dividends to the State 49.78 0.79 0.00 0.00
Dividends paid / net profit 0.08 0.00 0.00 0.00

* Left axis

** Right axis

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

2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) -4% -24% -10% -1%
Return on equity (ROE) -7% -41% -20% -1%
Return on capital employed (ROCE) -1% -8% 1% 8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.23 0.29 0.41 0.35
Current Ratio 0.59 0.03 0.21 2.64
Quick ratio 0.58 0.02 0.18 2.32
Turnover ratios
Asset turnover 0.09 0.01 0.18 0.26
Fixed asset turnover 0.10 0.01 0.19 0.31
Equity turnover 0.16 0.02 0.45 0.54
Profitability ratios
EBITDA margin 14% -182% 23% 34%
Operating profit margin -10% -358% 7% 26%
Net profit margin -11% -377% 2% 18%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2022 m. 6 mėn. tarpinės ataskaitos 2022 m. metinės ataskaitos
2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės 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. 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

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 State98.8%
http://litexpo.lt/
ROE

-15.0%

Number of employees

52

Financial data provided as at end-December 2022

Management

  • Jonas SakalauskasChief Executive Officer

Information as of: 2023/11/03

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Ramutė RibinskienėIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Mantas DubauskasIndependent member
  • Žilvinas PakeltisVšĮ „Inovacijų agentūra“; Independent member
  • Aleksandras GolodAB Telia Lietuva; Independent member
  • Rūta SteckienėMinistry of the Economy and Innovation

Information as of: 2023/11/03