Turto bankas
In 1996, Aurabank was reorganised into a non-performing asset management company AB Turto bankas, which was transformed into a state-owned enterprise in February 2011. On 1 October 2014, the state enterprise Turto bankas was reorganised by attaching the state’s company Valstybės turto fondas. The main areas of activity of the bank are: centralised state property management, privatization of shares owned by the state and municipalities, recovery of debts and loans to the state , state guarantees and other liabilities execution.
Financial results
P/L Statment
| 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|
| Revenue | 3,127 | 3,491 | 5,449 | 8,062 |
| Cost of goods sold | 2,469 | 2,822 | 4,443 | 6,594 |
| Gross profit (loss) | 659 | 669 | 1,007 | 1,468 |
| Gross profit margin | 21% | 19% | 18% | 18% |
| Operating expenses | 915 | 731 | 899 | 1,542 |
| Operating profit (loss) | -256 | -62 | 108 | -74 |
| Operating profit margin | -8% | -2% | 2% | -1% |
| EBITDA | 242 | 444 | 1,489 | 2,132 |
| EBITDA margin | 8% | 13% | 27% | 26% |
| Net profit (loss) | -188 | 31 | 151 | 24 |
| Net profit margin | -6% | 1% | 3% | 0% |
| 2017-06-30 | 2018-06-30 | 2019-06-30 | 2020-06-30 | |
|---|---|---|---|---|
| Revenue | 1,606 | 2,271 | 4,580 | 5,290 |
| Cost of goods sold | 1,396 | 1,930 | -3,017 | -4,396 |
| Gross profit (loss) | 210 | 341 | 1,563 | 893 |
| Gross profit margin | 13% | 15% | 34% | 17% |
| Operating expenses | 384 | 428 | 708 | 1,058 |
| Operating profit (loss) | -173 | -87 | 855 | -165 |
| Operating profit margin | -11% | -4% | 19% | -3% |
| EBITDA | 119 | 471 | 189 | 198 |
| EBITDA margin | 7% | 21% | 4% | 4% |
| Net profit (loss) | -1 | -6 | 892 | 102 |
| Net profit margin | -8% | -2% | 19% | 2% |
Balance sheet
| 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|
| Non-current assets | 66,032 | 69,803 | 174,445 | 265,594 |
| Intangible assets | 237 | 113 | 53 | 251 |
| Tangible assets | 35,854 | 61,146 | 167,931 | 261,139 |
| Financial assets | 29,912 | 8,516 | 6,428 | 4,163 |
| Other non-current assets | 28 | 27 | 34 | 41 |
| Biological assets | ||||
| Current assets | 92,633 | 124,331 | 107,954 | 128,602 |
| Inventories and prepaid expenses | 62,372 | 71,664 | 69,240 | 81,085 |
| Accounts receivable in one year | 1,789 | 24,318 | 3,053 | 4,268 |
| Other current assets | ||||
| Cash and cash equivalents | 28,472 | 28,349 | 35,662 | 43,249 |
| Total assets | 159,450 | 194,771 | 283,675 | 394,766 |
| Equity | 40,654 | 66,316 | 173,769 | 268,127 |
| Minority share of capital | ||||
| Grants and subsidies | 43 | 41 | 193 | 518 |
| Liabilities | 118,747 | 128,404 | 109,701 | 126,105 |
| Financial liabilities | 30,037 | 20,101 | 76,648 | 90,257 |
| Long-term liabilities | 43,021 | 38,297 | 28,646 | 32,846 |
| Short-term liabilities | 75,682 | 90,088 | 81,033 | 93,227 |
| Equity and liabilities | 159,450 | 194,771 | 283,675 | 394,766 |
| 2017-06-30 | 2018-06-30 | 2019-06-30 | 2020-06-30 | |
|---|---|---|---|---|
| Non-current assets | 68,257 | 118,776 | 265,594 | 267,144 |
| Intangible assets | 178 | 55 | 251 | 207 |
| Tangible assets | 38,189 | 112,711 | 261,139 | 263,447 |
| Financial assets | 29,861 | 5,977 | 4,163 | 3,434 |
| Other non-current assets | 29 | 32 | 41 | 56 |
| Biological assets | ||||
| Current assets | 99,415 | 115,020 | 128,602 | 141,402 |
| Inventories and prepaid expenses | 65,850 | 80,775 | 81,085 | 79,534 |
| Accounts receivable in one year | 1,662 | 2,997 | 4,268 | 7,240 |
| Other current assets | 639 | 517 | ||
| Cash and cash equivalents | 31,263 | 30,732 | 43,249 | 54,628 |
| Total assets | 167,671 | 233,796 | 394,766 | 409,416 |
| Equity | 43,063 | 117,851 | 268,127 | 271,676 |
| Minority share of capital | ||||
| Grants and subsidies | 43 | 75 | 518 | 504 |
| Liabilities | 124,565 | 115,870 | 122,899 | 140,426 |
| Financial liabilities | 63,996 | |||
| Long-term liabilities | 47,587 | 35,306 | 32,846 | 47,174 |
| Short-term liabilities | 76,979 | 80,564 | 90,021 | 93,227 |
| Equity and liabilities | 167,671 | 233,796 | 394,766 | 409,416 |
Financial ratios
| 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | -0% | 0% | 0% | 0% |
| Return on equity (ROE) | -0% | 0% | 0% | 0% |
| Return on capital employed (ROCE) | -1% | -0% | 0% | -0% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.74 | 0.30 | 0.44 | 0.34 |
| Current Ratio | 1.22 | 1.38 | 1.33 | 1.38 |
| Quick ratio | 0.40 | 0.58 | 0.48 | 0.51 |
| Turnover ratios | ||||
| Asset turnover | 0.02 | 0.02 | 0.02 | 0.02 |
| Fixed asset turnover | 0.04 | 0.05 | 0.04 | 0.04 |
| Equity turnover | 0.07 | 0.07 | 0.05 | 0.04 |
| Profitability ratios | ||||
| EBITDA margin | 8% | 13% | 27% | 26% |
| Operating profit margin | -8% | -2% | 2% | -1% |
| Net profit margin | -6% | 1% | 3% | 0% |
| Other ratios | ||||
| Dividends to the State | 440.77 | 128.60 | 19.10 | |
| Dividends paid / net profit | 14.40 | 0.85 | 0.80 |
| 2017-06-30 | 2018-06-30 | 2019-06-30 | 2020-06-30 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 0% | 0% | % | % |
| Return on equity (ROE) | 0% | 0% | % | % |
| Return on capital employed (ROCE) | -0% | -0% | -1% | -1% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.30 | 0.98 | 0.46 | 0.52 |
| Current Ratio | 1.38 | 1.43 | 1.43 | 1.52 |
| Quick ratio | 0.58 | 0.43 | 0.53 | 0.66 |
| Turnover ratios | ||||
| Asset turnover | 0.02 | 0.01 | 0.01 | 0.01 |
| Fixed asset turnover | 0.05 | 0.02 | 0.02 | 0.02 |
| Equity turnover | 0.07 | 0.03 | 0.02 | 0.02 |
| Profitability ratios | ||||
| EBITDA margin | 13% | 21% | 4% | 4% |
| Operating profit margin | -2% | -4% | 19% | -3% |
| Net profit margin | 1% | -2% | 19% | 2% |
| Other ratios | ||||
| Dividends to the State | 440.77 | |||
| Dividends paid / net profit | 14.40 |
Financial statments
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. 6 mėn. tarpinės ataskaitos
2014 m. 9 mėn. tarpinės ataskaitos
2014 m. 3 mėn. tarpinės ataskaitos
Expectations of the state
Target return on equity undefined
About the company
- Official nameVĮ Turto bankas
- Legal formState enterprise (VĮ)
- Company code112021042
- SectorOther
- Line of businessManagement of State-owned real estate and recovery of debts to the State
- Institution representing the StateMinistry of Finance
- Special obligationsVykdo nekomercinius specialiuosius įpareigojimus
- Share belonging to the State100%
Return to the State
99 EUR thousand
ROE
0.0%
Number of employees
201
Financial data provided as at end-December 2019
Management
- Mindaugas SinkevičiusDirector General
Information as of: 2021/04/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Darius IndriūnasUAB Auroch investments; UAB „Vilniaus viešasis transportas“; Independent member
MEMBERS OF THE BOARD OF DIRECTORS
- Viktorija TrimbelUAB Quantum capital; Independent member
- Vidmantas ŠiugždinisUAB Impuls LTU; Independent member
- Lina FrejutėMinistry of Finance
- Algirdas StumbrysVĮ Turto bankas
Information as of: 2021/04/01
