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Valdymo koordinavimo centras

State Owned Enterprises

State-owned company “Pieno tyrimai” has been registered in 1993. The main purpose and nature of the company is to ensure an unbiased, accurate and rapid examination of raw milk samples. Milk purchasers, processors, dairy producers, the Ministry of Agriculture of the Republic of Lithuania, the State Enterprise “Livestock Productivity Control”, the National Paying Agency, the State Food and Veterinary Service, the Public Institution “Ekoagros” and other institutions as well as science and training institutions use the milk sample research services of the company.

Financial results

P/L Statment

2016 2017 2018 2019
Revenue 3,934 4,160 4,015 5,312
Cost of goods sold 3,035 3,151 3,176 4,106
Gross profit (loss) 900 1,009 839 1,206
Gross profit margin 23% 24% 21% 23%
Operating expenses 829 867 780 974
Operating profit (loss) 71 142 59 232
Operating profit margin 2% 3% 1% 4%
EBITDA 640 651 623 884
EBITDA margin 16% 16% 16% 17%
Net profit (loss) 48 116 42 201
Net profit margin 1% 3% 1% 4%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 2,037 2,027 2,057 3,099
Cost of goods sold 1,524 1,609 1,601 2,372
Gross profit (loss) 513 418 457 727
Gross profit margin 25% 21% 22% 23%
Operating expenses 406 390 325 416
Operating profit (loss) 107 28 131 312
Operating profit margin 5% 1% 6% 10%
EBITDA 346 312 443 614
EBITDA margin 17% 15% 22% 20%
Net profit (loss) 16 95 230
Net profit margin 4% 1% 5% 7%

Balance sheet

2016 2017 2018 2019
Non-current assets 4,539 4,901 3,481 3,589
Intangible assets 3 13 50 64
Tangible assets 4,511 4,861 3,181 3,227
Financial assets
Other non-current assets 24 27 251 298
Biological assets
Current assets 807 905 832 1,587
Inventories and prepaid expenses 191 206 241 193
Accounts receivable in one year 304 346 320 579
Other current assets 72
Cash and cash equivalents 311 353 185 801
Total assets 5,359 5,821 4,332 5,187
Equity 4,573 4,665 3,293 3,985
Minority share of capital
Grants and subsidies
Liabilities 785 1,153 1,034 1,195
Financial liabilities 568 753 821 673
Long-term liabilities 381 501 504 432
Short-term liabilities 377 624 529 763
Equity and liabilities 5,359 5,821 4,332 5,187
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 4,605 4,754 3,559 3,381
Intangible assets 4 47 53 67
Tangible assets 4,578 4,679 3,253 3,015
Financial assets
Other non-current assets 24 28 253 298
Biological assets
Current assets 1,144 1,002 1,048 2,123
Inventories and prepaid expenses 253 238 213 231
Accounts receivable in one year 533 463 560 872
Other current assets
Cash and cash equivalents 359 301 275 1,020
Total assets 5,749 5,756 4,667 5,536
Equity 4,636 4,550 3,195 4,084
Minority share of capital
Grants and subsidies
Liabilities 1,113 1,205 1,470 1,449
Financial liabilities 690 608 880 538
Long-term liabilities 555 523 690 432
Short-term liabilities 558 682 780 1,016
Equity and liabilities 5,749 5,756 4,667 5,536

Financial ratios

2016 2017 2018 2019
Capital return ratios
Return on assets (ROA) 2% 3% 2% 4%
Return on equity (ROE) 2% 4% 3% 6%
Return on capital employed (ROCE) 3% 6% 3% 11%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.12 0.16 0.25 0.17
Current Ratio 2.14 1.45 1.57 2.08
Quick ratio 1.63 1.12 1.12 1.83
Turnover ratios
Asset turnover 0.73 0.74 0.79 1.12
Fixed asset turnover 0.87 0.88 0.96 1.50
Equity turnover 0.86 0.90 1.01 1.46
Profitability ratios
EBITDA margin 16% 16% 16% 17%
Operating profit margin 2% 3% 1% 4%
Net profit margin 1% 3% 1% 4%
Other ratios
Dividends to the State 23.80 138.20 192.70 131.60
Dividends paid / net profit 0.50 1.19 4.58 0.66
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) 3% 2% 2% 7%
Return on equity (ROE) 4% 3% 2% 9%
Return on capital employed (ROCE) 6% 1% 7% 14%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.16 0.13 0.28 0.13
Current Ratio 1.45 1.47 1.34 2.09
Quick ratio 1.12 1.12 1.07 1.86
Turnover ratios
Asset turnover 0.74 0.35 0.39 0.61
Fixed asset turnover 0.88 0.43 0.49 0.89
Equity turnover 0.90 0.44 0.53 0.85
Profitability ratios
EBITDA margin 16% 15% 22% 20%
Operating profit margin 3% 1% 6% 10%
Net profit margin 3% 1% 5% 7%
Other ratios
Dividends to the State 138.20
Dividends paid / net profit 1.19

Expectations of the state

Target return on equity

4.7%

About the company

  • Official nameUAB „Pieno tyrimai“
  • Legal formPrivate limited liability company (UAB)
  • Company code233816290
  • SectorOther
  • Line of businessRaw milk analysis
  • Institution representing the StateMinistry of Agriculture
  • Share belonging to the State100%
http://tau.pieno-tyrimai.lt/
Return to the State

132 EUR thousand

ROE

5.5%

Number of employees

313

Financial data provided as at end-December 2019

UAB „Gyvulių produktyvumo kontrolė“ were merged with UAB „Pieno tyrimai“ on 1 July 2019.

Management

  • Laima UrbšienėDirector General

Information as of: 2020/10/01