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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

UAB Panevėžio veislininkystė was registered in 1992. It is a long-established company engaged in animal breeding, animal productivity control and animal insemination.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual return on equity ROE:
    • 2022–2024 ≥ 9 percent.
  • Annual ratio of total liabilities to equity:
    • 2022–2024 ≤ 0,2 times
  • Average dividends for the calendar year were awarded:
    • 2022–2024 ≥ 70 percent distributable profit

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • Net profitability,%:
    • 2022 – 2
    • 2023 – 3
    • 2024 – 4
  • Number of new services, units::
    • 2022 – 1
    • 2023 – 2
    • 2024 – 3
  • Sales revenue, thousand EUR:
    • 2022 – 840
    • 2023 – 927
    • 2024 – 994
  • Good governance index:
    • 2022-2024 – A

          2020 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 1,500 1,414 618 164
Cost of goods sold 1,348 1,268 476 101
Gross profit (loss) 152 146 142 64
Gross profit margin 10% 10% 23% 39%
Operating expenses 118 122 142 207
Operating profit (loss) 34 24 -143
Operating profit margin 2% 2% % -87%
EBITDA 144 129 26 -127
EBITDA margin 10% 9% 4% -78%
Net profit (loss) 27 23 14 -139
Net profit margin 2% 2% 2% -84%
2018-06 2019-06 2020-06 2021-06
Revenue 768 631 377 117
Cost of goods sold 750 593 297 75
Gross profit (loss) 18 38 80 42
Gross profit margin % % 6% 36%
Operating expenses 44 52 68 55
Operating profit (loss) -26 -14 11 -13
Operating profit margin % % -2% -11%
EBITDA 41 -2
EBITDA margin % % 6% -2%
Net profit (loss) 16 -14 11 -7
Net profit margin % % -2% -6%

Balance sheet

2018 2019 2020 2021
Non-current assets 1,043 934 828 747
Intangible assets
Tangible assets 1,042 934 828 746
Financial assets 0 0 0 0
Other non-current assets
Current assets 53 92 114 125
Inventories and prepaid expenses 26 46 64 59
Accounts receivable in one year 20 32 46 45
Other current assets
Cash and cash equivalents 7 14 5 21
Total assets 1,097 1,026 943 872
Equity 109 132 146 7
Grants and subsidies 921 822 723 625
Liabilities 66 71 73 213
Financial liabilities 12 3
Long-term liabilities 8 3
Short-term liabilities 59 68 73 213
Equity and liabilities 1,097 1,026 943 872
2019-06 2020-06 2021-06
Non-current assets 988 882 774
Intangible assets
Tangible assets 988 882 774
Financial assets 0 0
Other non-current assets
Current assets 35 59 86
Inventories and prepaid expenses 4 4 5
Accounts receivable in one year 26 39 54
Other current assets
Cash and cash equivalents 5 17 28
Total assets 1,024 942 860
Equity 95 143 139
Grants and subsidies 872 773 674
Liabilities 58 27 47
Financial liabilities 8 3
Long-term liabilities 8 3
Short-term liabilities 2 2 1
Equity and liabilities 1,024 942 860

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 2% 2% 1% -15%
Return on equity (ROE) 28% 19% 10% -181%
Return on capital employed (ROCE) 7% 5% 4% -42%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.11 0.02
Current Ratio 0.91 1.36 1.57 0.59
Quick ratio 0.46 0.68 0.69 0.31
Turnover ratios
Asset turnover 1.25 1.33 0.63 0.18
Fixed asset turnover 1.37 1.43 0.70 0.21
Equity turnover 15.72 11.76 4.45 2.14
Profitability ratios
EBITDA margin 10% 9% 4% -78%
Operating profit margin 2% 2% % -87%
Net profit margin 2% 2% 2% -84%
Other ratios
Dividends to the State
Dividends paid / net profit
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) -8% % % -0%
Return on equity (ROE) -77% % % -3%
Return on capital employed (ROCE) -18% -11% 7% -2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.20 0.04 0.01
Current Ratio 0.79 16.09 25.83 85.92
Quick ratio 0.26 14.27 24.22 81.42
Turnover ratios
Asset turnover 0.95 1.23 0.38 0.13
Fixed asset turnover 1.05 1.28 0.40 0.14
Equity turnover 9.51 13.31 3.17 0.83
Profitability ratios
EBITDA margin 1% % 6% -2%
Operating profit margin -8% % -2% -11%
Net profit margin -8% % -2% -6%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity undefined

About the company

  • Official nameUAB „Panevėžio veislininkystė“
  • Legal formPrivate limited liability company (UAB)
  • Company code168559278
  • SectorOther
  • Line of businessAnimal husbandry
  • Institution representing the StateProperty bank
  • Share belonging to the State97%
http://panevezioveislininkyste.lt/
ROE

-180.7%

Number of employees

3

Financial data provided as at end-December 2021

Management

  • Andrius BielinisDirector General

Information as of: 2022/09/01