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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

Private limited liability company “Šilutės veislininkystė” was registered in 1998. The company’s economic activity is the production and assessment of fattening bulls in terms of meat qualities. The company also carries out animal trade for breeding and meat.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual return on equity ROE:
    • 2022–2024 ≥ 1,5 percent.
  • Annual ratio of total liabilities to equity:
    • 2022–2024 ≤ 0,4 times
  • Average dividends for the calendar year:
    • 2022–2024 ≥ 80 percent.

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • Net profitability,%:
    • 2022 – 2,1
    • 2023 – 3,2
    • 2024 – 3,5
  • Evaluation of cattle, units:
    • 2022 – 180
    • 2023 – 200
    • 2024 – 200
  • Sales revenue, thousand EUR:
    • 2022 – 289
    • 2023 – 335
    • 2024 – 348
  • Good governance index:
    • 2022 – B
    • 2023-2024 – A

          2021/22 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

2019 2020 2021 2022
Revenue 303 532 456 540
Cost of goods sold 188 562 468 424
Gross profit (loss) 115 -30 -11 116
Gross profit margin 38% -6% -2% 21%
Operating expenses 99 110 85 86
Operating profit (loss) 13 -142 -97 29
Operating profit margin 4% -27% -21% 5%
EBITDA 95 -71 -28 87
EBITDA margin 31% -13% -6% 16%
Net profit (loss) 11 -145 -102 26
Net profit margin 4% -27% -22% 5%
2019-06 2020-06 2021-06 2022-06
Revenue 120 85 210 222
Cost of goods sold 86 82 214 161
Gross profit (loss) 34 3 -5 60
Gross profit margin % % % %
Operating expenses 54 62 46 45
Operating profit (loss) -20 -59 -51 15
Operating profit margin % % % %
EBITDA 16 -23 -16 45
EBITDA margin 13% -27% -8% 20%
Net profit (loss) -24 -61 -52 14
Net profit margin -20% -72% -25% 6%

* Left axis

** Right axis

*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

2019 2020 2021 2022
Non-current assets 617 549 487 435
Intangible assets
Tangible assets 617 549 487 435
Financial assets
Other non-current assets
Current assets 677 499 374 379
Inventories and prepaid expenses 580 341 164 199
Accounts receivable in one year 68 20 122 83
Other current assets 0
Cash and cash equivalents 29 139 88 98
Total assets 1,295 1,049 861 814
Equity 555 409 308 334
Grants and subsidies 450 447 413 382
Liabilities 290 192 140 98
Financial liabilities 195 166 106 35
Long-term liabilities 139 6 35
Short-term liabilities 152 186 105 98
Equity and liabilities 1,294 1,049 861 814
2020-06 2021-06 2022-06
Non-current assets 582 521 457
Intangible assets
Tangible assets 582 521 457
Financial assets
Other non-current assets
Current assets 606 429 358
Inventories and prepaid expenses 538 284 227
Accounts receivable in one year 66 106 105
Other current assets
Cash and cash equivalents 2 39 25
Total assets 1,188 950 815
Equity 493 358 321
Grants and subsidies 439 430 398
Liabilities 255 163 96
Financial liabilities 206 131 61
Long-term liabilities 166 6 35
Short-term liabilities 90 157 61
Equity and liabilities 1,188 950 815

* All data in Balance Sheet table and corresponding chart is in EUR thousand, unless otherwise noted

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 1% -12% -11% 3%
Return on equity (ROE) 2% -30% -28% 8%
Return on capital employed (ROCE) 2% -34% -28% 9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.15 0.16 0.12 0.04
Current Ratio 4.46 2.68 3.55 3.88
Quick ratio 0.64 0.85 1.99 1.85
Turnover ratios
Asset turnover 0.23 0.51 0.53 0.66
Fixed asset turnover 0.49 0.97 0.94 1.24
Equity turnover 0.55 1.30 1.48 1.62
Profitability ratios
EBITDA margin 31% -13% -6% 16%
Operating profit margin 4% -27% -21% 5%
Net profit margin 4% -27% -22% 5%
Other ratios
Dividends to the State 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00 0.00

* Left axis

** Right axis

*** Dividends to the state in Financial Ratios table is in EUR thousand

2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 1% % -14% -4%
Return on equity (ROE) 2% % -38% -11%
Return on capital employed (ROCE) 2% -11% -13% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.35 0.37 0.34 0.19
Current Ratio 4.46 6.77 2.74 5.85
Quick ratio 0.64 0.75 0.93 2.13
Turnover ratios
Asset turnover 0.22 0.14 0.20 0.25
Fixed asset turnover 0.47 0.29 0.38 0.45
Equity turnover 0.55 0.34 0.49 0.65
Profitability ratios
EBITDA margin 31% -27% -8% 20%
Operating profit margin 4% % % %
Net profit margin 4% -72% -25% 6%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos
2020 m. 6 mėn. tarpinės ataskaitos 2020 m. metinės ataskaitos
2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos
2018 m. metinės ataskaitos 2018 m. 6 mėn. tarpinės ataskaitos
2017 m. 6 mėn. tarpinės ataskaitos 2017 m. metinės ataskaitos
2016 m. metinės ataskaitos 2016 m. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės 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. 6 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos
2010 m. metinės ataskaitos
2011 m. metinės ataskaitos

Expectations of the state

Target return on equity undefined

Letter of Expectations

About the company

  • Official nameUAB „Šilutės veislininkystė“
  • Legal formPrivate limited liability company (UAB)
  • Company code177005858
  • SectorOther
  • Line of businessAnimal husbandry
  • Institution representing the StateProperty bank
  • Share belonging to the State96.5%
http://buliukai.lt/
ROE

8.2%

Number of employees

7

Financial data provided as at end-December 2022

Management

  • Gediminas LapinskasChief Executive Officer

Information as of: 2023/09/01