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Valdymo koordinavimo centras Governance Coordination Centre

Indirectly Owned State Enterprises

A company established by the Ministry of Finance to manage the Business Assistance Fund. The Fund provides financing for companies facing the challenges of the pandemic. By providing loans and investments to businesses through the redemption of their bonds, VIVA contributes to activating Lithuania’s financial and capital markets and stimulating the economy.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual return on equity ROE:
    • 2022–2024 > 0 percent.
  • Annual ratio of total liabilities to equity:
    • 2022–2024 limit 0,5–0,8 times
  • Average dividends for the calendar year:
    • 2022–2024 ≥ 70 percent. from distributable profit

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • Assets under management, balance ml. EUR:
    • 2022 – 250
    • 2023 – 275
    • 2024 – 300
  • Amount attracted to finance managed measures, ml. EUR:
    • 2022 – 115
    • 2023 – 100
    • 2024 – 150
  • Employee satisfaction,%:
    • 2022-2024 ≥ 70
  • Good governance index:
    • 2022 – A
    • 2023 – A
    • 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 437 2,395 2,379
Cost of goods sold
Gross profit (loss) 0 437 2,395 2,379
Gross profit margin % 100% 100% 100%
Operating expenses 381 1,968 1,997
Operating profit (loss) 0 57 427 381
Operating profit margin % 13% 18% 16%
EBITDA 0 63 511 480
EBITDA margin % 14% 21% 20%
Net profit (loss) 0 48 360 320
Net profit margin % 11% 15% 13%
2021-06 2022-06
Revenue 1,000 1,500
Cost of goods sold
Gross profit (loss) 1,000 1,500
Gross profit margin % %
Operating expenses 854 851
Operating profit (loss) 146 649
Operating profit margin % %
EBITDA 188 696
EBITDA margin 19% 46%
Net profit (loss) 143 647
Net profit margin 14% 43%

* 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 0 213 178 104
Intangible assets 6 8 13
Tangible assets 34 20
Financial assets
Other non-current assets 208 137 72
Current assets 0 1,179 1,709 1,904
Inventories and prepaid expenses 149
Accounts receivable in one year 1 1
Other current assets
Cash and cash equivalents 1,179 1,708 1,754
Total assets 0 1,414 1,916 2,028
Equity 0 1,048 1,372 1,476
Grants and subsidies
Liabilities 0 366 544 552
Financial liabilities 0 196 127 61
Long-term liabilities 127 153 48
Short-term liabilities 240 391 504
Equity and liabilities 0 1,414 1,916 2,028
2021-06 2022-06
Non-current assets 220 139
Intangible assets 10 6
Tangible assets 38 27
Financial assets
Other non-current assets 172 107
Current assets 1,148 1,929
Inventories and prepaid expenses
Accounts receivable in one year 1
Other current assets
Cash and cash equivalents 1,148 1,927
Total assets 1,385 2,113
Equity 1,155 1,803
Grants and subsidies
Liabilities 230 310
Financial liabilities 161 95
Long-term liabilities 91 116
Short-term liabilities 139 194
Equity and liabilities 1,385 2,113

* 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) % 7% 22% 16%
Return on equity (ROE) % 9% 30% 22%
Return on capital employed (ROCE) % 5% 28% 25%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.14 0.07 0.03
Current Ratio 4.92 4.37 3.78
Quick ratio 4.92 4.37 3.49
Turnover ratios
Asset turnover 0.31 1.25 1.17
Fixed asset turnover 2.05 13.44 22.80
Equity turnover 0.42 1.75 1.61
Profitability ratios
EBITDA margin % 14% 21% 20%
Operating profit margin % 13% 18% 16%
Net profit margin % 11% 15% 13%
Other ratios
Dividends to the State 0.00 36.00 216.10 375.90
Dividends paid / net profit 0.75 0.60 1.18

* Left axis

** Right axis

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

2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) % 11% 49%
Return on equity (ROE) % 16% 58%
Return on capital employed (ROCE) % 23% 68%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.14 0.09 0.05
Current Ratio 8.26 9.97
Quick ratio 8.26 9.97
Turnover ratios
Asset turnover 1.44 0.86
Fixed asset turnover 9.08 8.34
Equity turnover 1.73 1.01
Profitability ratios
EBITDA margin % 19% 46%
Operating profit margin % % %
Net profit margin % 14% 43%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos
2020 m. metinės ataskaitos

Expectations of the state

Target return on equity undefined

Letter of Expectations

About the company

  • Official nameUAB Valstybės investicijų valdymo agentūra
  • Legal formPrivate limited liability company (UAB)
  • Company code305612545
  • SectorOther
  • Line of businessBusiness support fund administration
  • Accountability„Investicijų ir verslo garantijos“
  • Share indirectly belonging to the State100%
https://viva.lt/
Return to the State

376 EUR thousand

ROE

22.5%

Number of employees

22

Financial data provided as at end-December 2022

Management

  • L.. e. p. Liudas SinkevičiusActing Chief Executive Officer

Information as of: 9/1/2023

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Normantas Marius DvareckasUAB Ad ventum; Innovative project programme Horizon2020 in Brussels; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Agnė DaukšienėUAB Ignitis; Independent member
  • Andrius SokolovskisUAB Perfect Sunday; UAB Bendros investicijos; Independent member
  • Tomas Tumėnas„Linas Agro Group“; „Darius Zuba Holding“; „Baltic Fund Investments“; Independent member
  • Virginijus DoveikaUAB Ambr Payments; Independent member

Information as of: 9/1/2023