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State Owned Enterprises

The company was established on June 1st 2014  by merging the State Enterprise at Pravieniškės 1st Correctional Home, State Enterprise at Alytus 1st Correctional Home and SE at Marijampolė 1st Correction House.

Typical activities of the company – metal processing, sewing of clothes, production of cast iron castings, various furniture, racking, clothes and documents for metal cabinets, locksmith’s work tables, cupboard tools, metal fences, containers, office furniture, various sewing production, laundry washing, bread-cake product baking, wood products, electrical engineering and various services for legal and natural persons. The purpose of the company is to recruit convicts in order to preserve and develop their working skills.

Financial results

P/L Statment

2016 2017 2018 2019
Revenue 6,281 6,907 6,076 3,683
Cost of goods sold 5,865 5,876 5,518 3,590
Gross profit (loss) 416 1,031 558 93
Gross profit margin 7% 15% 9% 3%
Operating expenses 1,250 920 1,055 625
Operating profit (loss) -834 111 -497 -532
Operating profit margin -13% 2% -8% -14%
EBITDA -580 132 -243 -286
EBITDA margin -9% 2% -4% -8%
Net profit (loss) -847 86 -509 -542
Net profit margin -13% 1% -8% -15%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 3,207 2,787 2,110 1,735
Cost of goods sold 2,675 2,636 2,067 1,775
Gross profit (loss) 532 151 43 -40
Gross profit margin 17% 5% 2% -2%
Operating expenses 399 477 344 416
Operating profit (loss) 134 -326 -301 -456
Operating profit margin 4% -12% -14% -26%
EBITDA 260 -199 -173 -356
EBITDA margin 8% -7% -8% -21%
Net profit (loss) -308 -457
Net profit margin 4% -12% -15% -26%

Balance sheet

2016 2017 2018 2019
Non-current assets 3,583 3,405 3,634 3,404
Intangible assets 16 10 12 10
Tangible assets 3,567 3,396 3,622 3,394
Financial assets
Other non-current assets 0
Biological assets
Current assets 3,287 3,220 3,032 2,260
Inventories and prepaid expenses 1,974 1,878 1,646 1,354
Accounts receivable in one year 997 913 939 714
Other current assets
Cash and cash equivalents 316 428 447 193
Total assets 6,882 6,627 6,666 5,664
Equity 4,649 4,735 4,911 4,369
Minority share of capital
Grants and subsidies 250
Liabilities 1,983 1,891 1,756 1,295
Financial liabilities 372 283 297 12
Long-term liabilities 32 21 12
Short-term liabilities 1,951 1,871 1,743 1,295
Equity and liabilities 6,882 6,627 6,666 5,664
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 3,514 3,751 3,511 3,311
Intangible assets 13 9 10 15
Tangible assets 3,501 3,742 3,501 3,296
Financial assets
Other non-current assets 0
Biological assets
Current assets 3,403 3,055 2,604 2,055
Inventories and prepaid expenses 2,282 1,758 1,432 1,286
Accounts receivable in one year 972 1,132 859 751
Other current assets 7
Cash and cash equivalents 142 165 313 18
Total assets 6,917 6,806 6,115 5,366
Equity 4,775 5,088 4,603 3,912
Minority share of capital
Grants and subsidies 250
Liabilities 1,892 1,718 1,512 1,454
Financial liabilities 37 36 12
Long-term liabilities 32 27 12
Short-term liabilities 1,861 1,691 1,499 1,454
Equity and liabilities 6,917 6,806 6,115 5,366

Financial ratios

2017 2018 2019
Capital return ratios
Return on assets (ROA) 1% -8% -9%
Return on equity (ROE) 2% -10% -12%
Return on capital employed (ROCE) 4% -20% -24%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.06 0.06 0.00
Current Ratio 1.72 1.74 1.75
Quick ratio 0.72 0.80 0.70
Turnover ratios
Asset turnover 1.02 0.91 0.60
Fixed asset turnover 1.98 1.73 1.05
Equity turnover 1.47 1.26 0.79
Profitability ratios
EBITDA margin 2% -4% -8%
Operating profit margin 2% -8% -14%
Net profit margin 1% -8% -15%
Other ratios
Dividends to the State
Dividends paid / net profit
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) 1% -5% -7% -25%
Return on equity (ROE) 2% -7% -10% -35%
Return on capital employed (ROCE) 4% -13% -13% -23%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.06 0.34 0.05
Current Ratio 1.72 1.81 1.74 1.41
Quick ratio 0.72 0.77 0.78 0.53
Turnover ratios
Asset turnover 1.02 0.41 0.33 0.30
Fixed asset turnover 1.98 0.77 0.58 0.51
Equity turnover 1.47 0.57 0.44 0.41
Profitability ratios
EBITDA margin 2% -7% -8% -21%
Operating profit margin 2% -12% -14% -26%
Net profit margin 1% -12% -15% -26%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity

5.3%

About the company

  • Official nameMūsų amatai, VĮ
  • Legal formState enterprise (VĮ)
  • Company code303316138
  • SectorOther
  • Line of businessProduction of clothing, electrical equipment, plastics, furniture, metalworks
  • Institution representing the StatePrison Department
  • Special obligationsVykdo nekomercinius specialiuosius įpareigojimus
  • Share belonging to the State100%
http://www.musuamatai.com/
ROE

-11.7%

Number of employees

93

Financial data provided as at end-December 2019

Management

  • Vytautas GriniusDirector General

Information as of: 2020/10/01