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Valdymo koordinavimo centras Governance Coordination Centre

State Owned 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

2020 2021
Revenue 437 2,395
Cost of goods sold
Gross profit (loss) 437 2,395
Gross profit margin 100% 100%
Operating expenses 381 1,968
Operating profit (loss) 57 427
Operating profit margin 13% 18%
EBITDA 63 511
EBITDA margin 14% 21%
Net profit (loss) 48 360
Net profit margin 11% 15%
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

2020 2021
Non-current assets 213 178
Intangible assets 6 8
Tangible assets 34
Financial assets
Other non-current assets 208 137
Current assets 1,179 1,709
Inventories and prepaid expenses
Accounts receivable in one year 1
Other current assets
Cash and cash equivalents 1,179 1,708
Total assets 1,414 1,916
Equity 1,048 1,372
Grants and subsidies
Liabilities 366 544
Financial liabilities 196 127
Long-term liabilities 127 153
Short-term liabilities 240 391
Equity and liabilities 1,414 1,916
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

2020 2021
Capital return ratios
Return on assets (ROA) 7% 22%
Return on equity (ROE) 9% 30%
Return on capital employed (ROCE) 10% 56%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.19 0.09
Current Ratio 4.92 4.37
Quick ratio 4.92 4.37
Turnover ratios
Asset turnover 0.62 1.44
Fixed asset turnover 4.10 12.23
Equity turnover 0.83 1.98
Profitability ratios
EBITDA margin 14% 21%
Operating profit margin 13% 18%
Net profit margin 11% 15%
Other ratios
Dividends to the State 36.00 216.10
Dividends paid / net profit 0.75 0.60

* 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
  • Institution representing the StateMinistry of Finance
  • Share belonging to the State100%
https://viva.lt/
ROE

58.4%

Number of employees

24

Financial data provided as at end-December 2021

Management

  • Dainius VilčinskasDirector General

Information as of: 2023/01/01

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: 2023/01/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Giedrius DusevičiusUAB Digital Audio; Independent member

SUPERVISORY BOARD MEMBERS

  • Aušra VičkačkienėMinistry of Finance
  • Skirmantas MiliauskasUAB Orion Asset Management, Independent member

Information as of: 2023/01/01