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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.

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 6,907 6,076 3,683 3,426
Cost of goods sold 5,876 5,518 3,590 3,444
Gross profit (loss) 1,031 558 93 -18
Gross profit margin 15% 9% 3% -1%
Operating expenses 920 1,055 625 810
Operating profit (loss) 111 -497 -532 -828
Operating profit margin 2% -8% -14% -24%
EBITDA 132 -243 -286 -597
EBITDA margin 2% -4% -8% -17%
Net profit (loss) 86 -509 -542 -833
Net profit margin 1% -8% -15% -24%
2019-06 2020-06 2021-06
Revenue 2,110 1,735 1,563
Cost of goods sold 2,067 1,775 1,587
Gross profit (loss) 43 -40 -24
Gross profit margin % 2% -2%
Operating expenses 344 416 412
Operating profit (loss) -301 -456 -435
Operating profit margin % -14% -28%
EBITDA -174 -327
EBITDA margin % -8% -21%
Net profit (loss) -308 -457 -435
Net profit margin % -15% -28%

Balance sheet

2017 2018 2019 2020
Non-current assets 3,405 3,634 3,404 3,176
Intangible assets 10 12 10 13
Tangible assets 3,396 3,622 3,394 3,163
Financial assets
Other non-current assets 0
Current assets 3,220 3,032 2,260 1,733
Inventories and prepaid expenses 1,878 1,646 1,354 1,194
Accounts receivable in one year 913 939 714 451
Other current assets
Cash and cash equivalents 428 447 193 87
Total assets 6,627 6,666 5,664 4,908
Equity 4,735 4,911 4,369 3,537
Grants and subsidies
Liabilities 1,891 1,756 1,295 1,372
Financial liabilities 283 297 12 181
Long-term liabilities 21 12 787
Short-term liabilities 1,871 1,743 1,295 585
Equity and liabilities 6,627 6,666 5,664 4,908
2020-06 2021-06
Non-current assets 3,311 3,043
Intangible assets 15 11
Tangible assets 3,296 3,033
Financial assets
Other non-current assets
Current assets 2,055 1,565
Inventories and prepaid expenses 1,286 1,038
Accounts receivable in one year 751 520
Other current assets
Cash and cash equivalents 18 6
Total assets 5,366 4,608
Equity 3,912 3,077
Grants and subsidies
Liabilities 1,454 1,531
Financial liabilities
Long-term liabilities 787
Short-term liabilities
Equity and liabilities 5,366 4,608

Financial ratios

2018 2019 2020
Capital return ratios
Return on assets (ROA) -8% -9% -15%
Return on equity (ROE) -10% -12% -21%
Return on capital employed (ROCE) -20% -24% -38%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.06 0.00 0.05
Current Ratio 1.74 1.75 2.96
Quick ratio 0.80 0.70 0.92
Turnover ratios
Asset turnover 0.91 0.60 0.65
Fixed asset turnover 1.73 1.05 1.04
Equity turnover 1.26 0.79 0.87
Profitability ratios
EBITDA margin -4% -8% -17%
Operating profit margin -8% -14% -24%
Net profit margin -8% -15% -24%
Other ratios
Dividends to the State
Dividends paid / net profit
2020-06 2021-06
Capital return ratios
Return on assets (ROA) % -16%
Return on equity (ROE) % -23%
Return on capital employed (ROCE) -10% -19%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio
Quick ratio
Turnover ratios
Asset turnover 0.65 0.31
Fixed asset turnover 1.05 0.49
Equity turnover 0.89 0.45
Profitability ratios
EBITDA margin -8% -21%
Operating profit margin -14% -28%
Net profit margin -15% -28%
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 obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://www.musuamatai.com/
Return to the State

22 EUR thousand

ROE

-20.6%

Number of employees

83

Financial data provided as at end-December 2020

Management

  • L. e. p. Goda Andrijaitytė-RupeikėActing Director General

Information as of: 2022/05/01