Pieno tyrimai
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 |
Financial statments
2015 m. metinės ataskaitos
2015 m. 12 mėn. tarpinės ataskaitos
2015 m. 9 mėn. tarpinės ataskaitos
2015 m. 6 mėn. tarpinės ataskaitos
2015 m. 3 mėn. tarpinės ataskaitos
2014 m. metinės ataskaitos
2014 m. 12 mėn. tarpinės ataskaitos
2014 m. 3 mėn. tarpinės ataskaitos
2014 m. 9 mėn. tarpinės ataskaitos
2014 m. 6 mėn. tarpinės ataskaitos
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%
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: 2021/04/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Andrius BurlėgaMinistry of Agriculture
MEMBERS OF THE BOARD OF DIRECTORS
- Artūras PalekasAB Problematika; Independent member
- Rūta Pupkaitė-JurgutienėMinistry of Agriculture
- Rolandas StankevičiusLithuanian University of Health Sciences; Independent member
Information as of: 2021/04/01
