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
| 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|
| Revenue | 3,491 | 5,449 | 8,062 | 11,538 |
| Cost of goods sold | 2,822 | 4,443 | 6,594 | 9,514 |
| Gross profit (loss) | 669 | 1,007 | 1,468 | 2,023 |
| Gross profit margin | 19% | 18% | 18% | 18% |
| Operating expenses | 731 | 899 | 1,542 | 2,152 |
| Operating profit (loss) | -62 | 108 | -74 | -129 |
| Operating profit margin | -2% | 2% | -1% | -1% |
| EBITDA | 444 | 1,489 | 2,132 | 3,658 |
| EBITDA margin | 13% | 27% | 26% | 32% |
| Net profit (loss) | 31 | 151 | 24 | 25 |
| Net profit margin | 1% | 3% | 0% | 0% |
| 2020-06 | 2021-06 | |
|---|---|---|
| Revenue | 8,062 | 9,822 |
| Cost of goods sold | 6,594 | 6,562 |
| Gross profit (loss) | 1,468 | 3,260 |
| Gross profit margin | % | 33% |
| Operating expenses | 1,542 | 1,872 |
| Operating profit (loss) | -74 | 1,388 |
| Operating profit margin | % | 14% |
| EBITDA | 3,620 | |
| EBITDA margin | % | 37% |
| Net profit (loss) | 23 | 1,486 |
| Net profit margin | % | 15% |
Balance sheet
| 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|
| Non-current assets | 69,803 | 174,445 | 265,594 | 299,840 |
| Intangible assets | 113 | 53 | 251 | 322 |
| Tangible assets | 61,146 | 167,931 | 261,139 | 296,911 |
| Financial assets | 8,516 | 6,428 | 4,163 | 2,549 |
| Other non-current assets | 27 | 34 | 41 | 57 |
| Current assets | 124,331 | 107,954 | 128,602 | 145,301 |
| Inventories and prepaid expenses | 71,664 | 69,240 | 81,085 | 76,437 |
| Accounts receivable in one year | 24,318 | 3,053 | 4,268 | 4,683 |
| Other current assets | ||||
| Cash and cash equivalents | 28,349 | 35,662 | 43,249 | 64,182 |
| Total assets | 194,771 | 283,675 | 394,766 | 445,775 |
| Equity | 66,316 | 173,769 | 268,127 | 304,097 |
| Grants and subsidies | 41 | 193 | 518 | 2,771 |
| Liabilities | 128,404 | 109,701 | 126,105 | 138,879 |
| Financial liabilities | 20,101 | 76,648 | 643 | 780 |
| Long-term liabilities | 38,297 | 28,646 | 32,846 | 45,661 |
| Short-term liabilities | 90,088 | 81,033 | 93,227 | 93,169 |
| Equity and liabilities | 194,771 | 283,675 | 394,766 | 445,775 |
| 2021-06 | |
|---|---|
| Non-current assets | 336,665 |
| Intangible assets | 357 |
| Tangible assets | 333,680 |
| Financial assets | 2,545 |
| Other non-current assets | 83 |
| Current assets | 129,909 |
| Inventories and prepaid expenses | 62,475 |
| Accounts receivable in one year | 7,277 |
| Other current assets | |
| Cash and cash equivalents | 60,157 |
| Total assets | 467,099 |
| Equity | 341,688 |
| Grants and subsidies | 3,586 |
| Liabilities | 120,971 |
| Financial liabilities | 911 |
| Long-term liabilities | 54,608 |
| Short-term liabilities | 24 |
| Equity and liabilities | 467,099 |
Financial ratios
| 2018 | 2019 | 2020 | |
|---|---|---|---|
| Capital return ratios | |||
| Return on assets (ROA) | 0% | 0% | 0% |
| Return on equity (ROE) | 0% | 0% | 0% |
| Return on capital employed (ROCE) | 0% | -0% | -0% |
| Capital structure and liquidity ratios | |||
| Debt / asset ratio (D/A) | 0.44 | 0.00 | 0.00 |
| Current Ratio | 1.33 | 1.38 | 1.56 |
| Quick ratio | 0.48 | 0.51 | 0.74 |
| Turnover ratios | |||
| Asset turnover | 0.02 | 0.02 | 0.03 |
| Fixed asset turnover | 0.04 | 0.04 | 0.04 |
| Equity turnover | 0.05 | 0.04 | 0.04 |
| Profitability ratios | |||
| EBITDA margin | 27% | 26% | 32% |
| Operating profit margin | 2% | -1% | -1% |
| Net profit margin | 3% | 0% | 0% |
| Other ratios | |||
| Dividends to the State | 128.60 | 20.30 | 21.20 |
| Dividends paid / net profit | 0.85 | 0.85 | 0.85 |
| 2021-06 | |
|---|---|
| Capital return ratios | |
| Return on assets (ROA) | 1% |
| Return on equity (ROE) | 1% |
| Return on capital employed (ROCE) | 1% |
| Capital structure and liquidity ratios | |
| Debt / asset ratio (D/A) | 0.00 |
| Current Ratio | 5,412.88 |
| Quick ratio | 2,809.75 |
| Turnover ratios | |
| Asset turnover | 0.04 |
| Fixed asset turnover | 0.06 |
| Equity turnover | 0.06 |
| Profitability ratios | |
| EBITDA margin | 37% |
| Operating profit margin | 14% |
| Net profit margin | 15% |
| Other ratios | |
| Dividends to the State | |
| Dividends paid / net profit |
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 obligationsPerformes non-commercial special obligations
- Share belonging to the State100%
Return to the State
101 EUR thousand
ROE
0.0%
Number of employees
220
Financial data provided as at end-December 2020
Management
- Mindaugas SinkevičiusDirector General
Information as of: 2021/10/01
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, UAB „Vigara“, Gym LT, Gym LT, UAB „Emocinis balansas“, UAB „Mintin“, UAB „Impuls“ ; Independent member
- Lina FrejutėMinistry of Finance
- Algirdas StumbrysVĮ Turto bankas
Information as of: 2021/10/01
