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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

          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

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%
2019-06 2020-06 2021-06 2022-06
Revenue 4,205 1,844 232 2,543
Cost of goods sold 2,151 1,665 785 1,983
Gross profit (loss) 2,054 179 -553 559
Gross profit margin % % % %
Operating expenses 566 354 278 392
Operating profit (loss) 1,488 -176 -831 167
Operating profit margin % % % %
EBITDA 1,930 254 -421 572
EBITDA margin 46% 14% -182% 23%
Net profit (loss) 1,250 -211 -875 39
Net profit margin 30% -11% -377% 2%

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
2020-06 2021-06 2022-06
Non-current assets 18,463 17,549 13,634
Intangible assets 18 9 5
Tangible assets 18,436 17,540 12,919
Financial assets 8 289
Other non-current assets 421
Current assets 933 161 140
Inventories and prepaid expenses 23 15 18
Accounts receivable in one year 125 115 74
Other current assets
Cash and cash equivalents 785 31 48
Total assets 19,458 17,741 13,812
Equity 11,669 9,827 5,653
Grants and subsidies 1,741 1,672 1,603
Liabilities 6,048 6,227 6,521
Financial liabilities 4,571 5,061 5,645
Long-term liabilities 4,470 336 5,847
Short-term liabilities 1,578 5,891 674
Equity and liabilities 19,458 17,741 13,812

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
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 3% % -30% -10%
Return on equity (ROE) 5% % -65% -20%
Return on capital employed (ROCE) 8% -2% -14% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.40 0.51 1.01 1.00
Current Ratio 0.42 0.59 0.03 0.21
Quick ratio 0.41 0.58 0.02 0.18
Turnover ratios
Asset turnover 0.30 0.19 0.01 0.16
Fixed asset turnover 0.32 0.20 0.01 0.16
Equity turnover 0.50 0.32 0.02 0.33
Profitability ratios
EBITDA margin 27% 14% -182% 23%
Operating profit margin 12% % % %
Net profit margin 10% -11% -377% 2%
Other ratios
Dividends to the State 49.78
Dividends paid / net profit 0.08

Expectations of the state

Target return on equity undefined

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

-20.3%

Number of employees

57

Financial data provided as at end-December 2021

Management

  • Justinas BortkevičiusDirector General

Information as of: 2023/01/01

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: 2023/01/01