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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

2019 2020 2021 2022
Revenue 3,683 3,426 3,158
Cost of goods sold 3,590 3,444 3,125
Gross profit (loss) 93 -18 33 0
Gross profit margin 3% -1% 1% %
Operating expenses 482 704 842
Operating profit (loss) -532 -828 -817 0
Operating profit margin -14% -24% -26% %
EBITDA -286 -597 -610 0
EBITDA margin -8% -17% -19% %
Net profit (loss) -542 -833 -822 0
Net profit margin -15% -24% -26% %
2020-06 2021-06 2022-06 2023-06
Revenue 1,735 1,563 1,747
Cost of goods sold 1,775 1,587 1,641
Gross profit (loss) -40 -24 106 0
Gross profit margin -2% -2% 6% %
Operating expenses 347 404 422 0
Operating profit (loss) -456 -435 -317 0
Operating profit margin -26% -28% -18% %
EBITDA -356 -327 -217 0
EBITDA margin -21% -21% -12% %
Net profit (loss) -457 -435 -318 0
Net profit margin -26% -28% -18% %

Balance sheet

2019 2020 2021 2022
Non-current assets 3,404 3,176 2,939 0
Intangible assets 10 13 9
Tangible assets 3,394 3,163 2,930
Financial assets
Other non-current assets 0
Current assets 2,260 1,733 1,331 0
Inventories and prepaid expenses 1,354 1,194 991
Accounts receivable in one year 714 451 332
Other current assets
Cash and cash equivalents 193 87 9
Total assets 5,664 4,908 4,270 0
Equity 4,369 3,537 2,690 0
Grants and subsidies
Liabilities 1,295 1,372 1,580 0
Financial liabilities 12 181 0 0
Long-term liabilities 787 536
Short-term liabilities 1,295 585 1,045
Equity and liabilities 5,664 4,908 4,270 0
2020-06 2021-06 2022-06 2023-06
Non-current assets 3,311 3,043 2,837 0
Intangible assets 15 11 7
Tangible assets 3,296 3,033 2,830
Financial assets 0
Other non-current assets 0
Current assets 2,055 1,565 1,082 0
Inventories and prepaid expenses 1,286 1,038 721
Accounts receivable in one year 751 520 341
Other current assets 0
Cash and cash equivalents 18 6 20
Total assets 5,366 4,608 3,919 0
Equity 3,912 3,077 2,371 0
Grants and subsidies 0
Liabilities 1,454 1,531 1,548 0
Financial liabilities 0 0 251 0
Long-term liabilities 0 787 456 0
Short-term liabilities 1,454 744 1,092 0
Equity and liabilities 5,366 4,608 3,919 0

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) -9% -16% -18% 0%
Return on equity (ROE) -12% -21% -26% 0%
Return on capital employed (ROCE) -12% -19% -25% %
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.04 0.00
Current Ratio 1.75 2.96 1.27
Quick ratio 0.70 0.92 0.33
Turnover ratios
Asset turnover 0.65 0.70 0.74
Fixed asset turnover 1.08 1.08 1.07
Equity turnover 0.84 0.97 1.17
Profitability ratios
EBITDA margin -8% -17% -19% %
Operating profit margin -14% -24% -26% %
Net profit margin -15% -24% -26% %
Other ratios
Dividends to the State 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00
2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) -26% -16% -17% 16%
Return on equity (ROE) -35% -23% -26% 27%
Return on capital employed (ROCE) -12% -11% -11% %
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.06
Current Ratio 1.41 2.10 0.99
Quick ratio 0.53 0.71 0.33
Turnover ratios
Asset turnover 0.32 0.34 0.45
Fixed asset turnover 0.52 0.51 0.62
Equity turnover 0.44 0.51 0.74
Profitability ratios
EBITDA margin -21% -21% -12% %
Operating profit margin -26% -28% -18% %
Net profit margin -26% -28% -18% %
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

About the company

  • Official nameMūsų amatai, VĮ
  • Legal formState enterprise (VĮ)
  • Company code303316138
  • SectorOther
  • Line of businessProduction of clothing, electrical equipment, plastics, furniture, metalworks
  • Accountability
  • Special obligationsPerformes non-commercial special obligations
  • Share indirectly belonging to the State0%
http://www.musuamatai.com/
ROE

0.0%

Financial data provided as at end-December 2022

Management