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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

The State Enterprise Mūsų amatai was established in June 2014. The State Enterprise at Alytus Correctional Home, the State Enterprise at Marijampolė Correctional Home and the State Enterprise at Pravieniškės Correctional Home have been reorganised and merged into a single company in order to improve the efficiency of the company’s management and the quality of products. The main objective of the State Enterprise “Mūsų amatai” is to employ and train convicts, to provide them with vocational skills, to prepare them for work after their release, and to ensure the employment of convicted persons and their effective work, which is aimed at preparing them for their integration into the society and teaching them to pursue their goals in life by lawful ways and means. Main activities:
– Manufacture of office furniture (for private companies, institutions and organisations);
– Manufacture of furniture for educational institutions (kindergartens, schools, universities, libraries);
– Manufacture of upholstered furniture and chairs;
– Manufacture of furniture for the home (indoor and outdoor furniture)
– Manufacture of metal furniture (for industry, special service companies);
– Manufacture of metal storage furniture;
– Manufacture of medical furniture (for hospitals, clinics, nursing homes);
– Manufacture of metal products (for construction and furniture companies, home, leisure);
– Casting of cast iron products (for communication companies, home);
– Sewing services and products;
– Wood processing and manufacture of various wood products;
– Design and manufacture of non-standard products;
– Weaving of nets, wickerwork and other services.


      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 6,076 3,683 3,426 3,158
Cost of goods sold 5,518 3,590 3,444 3,125
Gross profit (loss) 558 93 -18 33
Gross profit margin 9% 3% -1% 1%
Operating expenses 1,055 625 810 850
Operating profit (loss) -497 -532 -828 -817
Operating profit margin -8% -14% -24% -26%
EBITDA -243 -286 -597 -610
EBITDA margin -4% -8% -17% -19%
Net profit (loss) -509 -542 -833 -822
Net profit margin -8% -15% -24% -26%
2019-06 2020-06 2021-06 2022-06
Revenue 2,110 1,735 1,563 1,747
Cost of goods sold 2,067 1,775 1,587 1,641
Gross profit (loss) 43 -40 -24 106
Gross profit margin % % % %
Operating expenses 344 416 412 423
Operating profit (loss) -301 -456 -435 -317
Operating profit margin % % % %
EBITDA -174 -356 -327 -217
EBITDA margin -8% -21% -21% -12%
Net profit (loss) -308 -457 -435 -318
Net profit margin -15% -26% -28% -18%

Balance sheet

2018 2019 2020 2021
Non-current assets 3,634 3,404 3,176 2,939
Intangible assets 12 10 13 9
Tangible assets 3,622 3,394 3,163 2,930
Financial assets
Other non-current assets 0
Current assets 3,032 2,260 1,733 1,331
Inventories and prepaid expenses 1,646 1,354 1,194 991
Accounts receivable in one year 939 714 451 332
Other current assets
Cash and cash equivalents 447 193 87 9
Total assets 6,666 5,664 4,908 4,270
Equity 4,911 4,369 3,537 2,690
Grants and subsidies
Liabilities 1,756 1,295 1,372 1,580
Financial liabilities 297 12 181
Long-term liabilities 12 787 536
Short-term liabilities 1,743 1,295 585 1,045
Equity and liabilities 6,666 5,664 4,908 4,270
2020-06 2021-06 2022-06
Non-current assets 3,311 3,043 2,837
Intangible assets 15 11 7
Tangible assets 3,296 3,033 2,830
Financial assets
Other non-current assets
Current assets 2,055 1,565 1,082
Inventories and prepaid expenses 1,286 1,038 721
Accounts receivable in one year 751 520 341
Other current assets
Cash and cash equivalents 18 6 20
Total assets 5,366 4,608 3,919
Equity 3,912 3,077 2,371
Grants and subsidies
Liabilities 1,454 1,531 1,548
Financial liabilities 251
Long-term liabilities 787 456
Short-term liabilities 1,454 744 1,092
Equity and liabilities 5,366 4,608 3,919

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) -8% -9% -15% -18%
Return on equity (ROE) -10% -12% -21% -26%
Return on capital employed (ROCE) -20% -24% -38% -51%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.06 0.00 0.05
Current Ratio 1.74 1.75 2.96 1.27
Quick ratio 0.80 0.70 0.92 0.33
Turnover ratios
Asset turnover 0.91 0.60 0.65 0.69
Fixed asset turnover 1.73 1.05 1.04 1.03
Equity turnover 1.26 0.79 0.87 1.01
Profitability ratios
EBITDA margin -4% -8% -17% -19%
Operating profit margin -8% -14% -24% -26%
Net profit margin -8% -15% -24% -26%
Other ratios
Dividends to the State
Dividends paid / net profit
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) -9% % -18% -16%
Return on equity (ROE) -12% % -26% -25%
Return on capital employed (ROCE) -24% -23% -23% -23%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.11
Current Ratio 1.75 1.41 2.10 0.99
Quick ratio 0.70 0.53 0.71 0.33
Turnover ratios
Asset turnover 0.60 0.65 0.31 0.41
Fixed asset turnover 1.05 1.05 0.49 0.59
Equity turnover 0.79 0.89 0.45 0.64
Profitability ratios
EBITDA margin -8% -21% -21% -12%
Operating profit margin -14% % % %
Net profit margin -15% -26% -28% -18%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity undefined

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 obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://www.musuamatai.com/
ROE

-25.2%

Number of employees

45

Financial data provided as at end-December 2021