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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

In 1965, the Drainage system board (SSV) was established at the land improvement base in Šilutė district. Over time, both company status and company name have evolved, and in 2005, they were reregistered to UAB Šilutė Polderiai. The main activities of the company is the operation and repair of the polderical system, road repairs, forestry cleaning work, reconstruction of the pumping stations.

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 ≤ 0,7 times
  • Average dividends for the calendar year:
    • 2022–2024 ≥ 70 percent distributable profit

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • The ratio of total liabilities to EBITDA, sometimes:
    • 2022-2024, 1,0 – 3,0
  • EBITDA margin,%:
    • 2022 ≥ 5,2
    • 2023 ≥ 5,4
    • 2024 ≥ 5,5
  • Number of substantiated claims regarding the quality of work and / or deadlines for completion:
    • 2022-2024 – 0
  • Number of substantiated claims regarding the quality of work and / or deadlines for completion:
    • 2022-2024 – 100

          2021/2 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

2018 2019 2020 2021
Revenue 3,748 7,043 8,824 5,493
Cost of goods sold 3,360 6,556 7,622 4,887
Gross profit (loss) 388 487 1,203 607
Gross profit margin 10% 7% 14% 11%
Operating expenses 329 382 374 417
Operating profit (loss) 59 104 828 190
Operating profit margin 2% 1% 9% 3%
EBITDA 175 208 953 354
EBITDA margin 5% 3% 11% 6%
Net profit (loss) 52 80 708 163
Net profit margin 1% 1% 8% 3%
2019-06 2020-06 2021-06 2022-06
Revenue 2,150 1,687 2,476 2,247
Cost of goods sold 1,943 1,503 1,931 2,055
Gross profit (loss) 207 185 545 192
Gross profit margin % % % %
Operating expenses 171 185 220 189
Operating profit (loss) 37 -1 324 3
Operating profit margin % % % %
EBITDA 85 68 396 114
EBITDA margin 4% 4% 16% 5%
Net profit (loss) 33 10 325 19
Net profit margin 2% 1% 13% 1%

Balance sheet

2018 2019 2020 2021
Non-current assets 403 473 622 767
Intangible assets 1 0
Tangible assets 395 455 603 749
Financial assets
Other non-current assets 7 17 19 18
Current assets 652 1,347 1,800 719
Inventories and prepaid expenses 156 44 31 174
Accounts receivable in one year 242 216 280 214
Other current assets
Cash and cash equivalents 254 1,086 1,489 332
Total assets 1,306 1,860 2,454 1,530
Equity 825 859 1,499 1,223
Grants and subsidies
Liabilities 481 1,000 955 307
Financial liabilities 131 136
Long-term liabilities 117 121
Short-term liabilities 364 879 955 307
Equity and liabilities 1,305 1,860 2,454 1,530
2020-06 2021-06 2022-06
Non-current assets 474 808 718
Intangible assets
Tangible assets 456 788 700
Financial assets
Other non-current assets 17 19 18
Current assets 1,567 1,756 836
Inventories and prepaid expenses 513 104 399
Accounts receivable in one year 220 367 172
Other current assets
Cash and cash equivalents 834 1,286 264
Total assets 2,643 2,591 1,891
Equity 802 1,384 951
Grants and subsidies
Liabilities 1,842 1,206 940
Financial liabilities 126
Long-term liabilities 121
Short-term liabilities 1,721 1,206 940
Equity and liabilities 2,644 2,591 1,891

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 4% 5% 33% 8%
Return on equity (ROE) 6% 10% 60% 12%
Return on capital employed (ROCE) 15% 21% 113% 31%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.16 0.16
Current Ratio 1.79 1.53 1.89 2.34
Quick ratio 1.36 1.48 1.85 1.78
Turnover ratios
Asset turnover 2.80 4.45 4.09 2.76
Fixed asset turnover 9.46 16.09 16.12 7.91
Equity turnover 4.59 8.36 7.48 4.04
Profitability ratios
EBITDA margin 5% 3% 11% 6%
Operating profit margin 2% 1% 9% 3%
Net profit margin 1% 1% 8% 3%
Other ratios
Dividends to the State 36.95 55.10 355.76 235.79
Dividends paid / net profit 0.71 0.69 0.50 1.45
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 5% % 51% -6%
Return on equity (ROE) 10% % 75% -12%
Return on capital employed (ROCE) 21% 3% 47% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.16
Current Ratio 1.53 0.91 1.46 0.89
Quick ratio 1.48 0.61 1.37 0.46
Turnover ratios
Asset turnover 4.45 1.28 0.95 1.00
Fixed asset turnover 16.09 7.13 3.86 2.94
Equity turnover 8.36 4.21 2.27 1.92
Profitability ratios
EBITDA margin 3% 4% 16% 5%
Operating profit margin 1% % % %
Net profit margin 1% 1% 13% 1%
Other ratios
Dividends to the State 55.10
Dividends paid / net profit 0.69

Expectations of the state

Target return on equity undefined

About the company

  • Official nameUAB „Šilutės polderiai“
  • Legal formPrivate limited liability company (UAB)
  • Company code177002890
  • SectorOther
  • Line of businessPolder construction
  • Institution representing the StateProperty bank
  • Share belonging to the State81%
http://polderiai.lt/
ROE

-12.2%

Number of employees

112

Financial data provided as at end-December 2021

Management

  • Arūnas JagminasDirector General

Information as of: 2023/01/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Simona MartinkėUAB MERCK SHARP & DOHME; Lithuanian Investment Managers' Association; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Linas LapinskasMinistry of Agriculture
  • Inga Perevičiūtė-AntulienėMinistry of Agriculture
  • Arūnas TamošauskasUAB Telšių autobusų parkas; UAB Telšių vandenys; Independent member

Information as of: 2023/01/01