Valstybinių miškų urėdija
VĮ Valstybinių miškų urėdija was established in 2018 by a merger with the reorganization of 42 regional forest-based organisations and the state institute of forest management. Valstybinių miškų urėdija is responsible for the supervision, administration and inventory of Lithuanian state forests, and is engaged in logging activities as well as trading timber and planting materials. The company is also responsible for the preparation of forest management projects, the planning of protected and special purpose forests, the production of cartographic material, the creation of databases, cadastral measurements and conducts land reform development of land-use projects.
Note: below is the financial results (P/N report, balance sheet and financial indicators) of the VĮ “Valstybinis miškotvarkos institutas”, to which the 42 forest-based enterprises are connected on 8th of January 2018. The financial information presented in the ‘ About company ‘ section on the right, together with the information on the ‘ All Companies ‘ page, is aggregated in 42 information for the VĮ “Valstybinis miškotvarkos institutas”
Financial results
P/L Statment
| 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|
| Revenue | 158,457 | 164,039 | 180,353 | 157,726 |
| Cost of goods sold | 64,409 | 65,814 | 60,793 | 56,787 |
| Gross profit (loss) | 94,048 | 98,225 | 119,560 | 100,939 |
| Gross profit margin | 59% | 60% | 66% | 64% |
| Operating expenses | 86,077 | 92,285 | 91,024 | 95,435 |
| Operating profit (loss) | 7,972 | 5,940 | 28,536 | 5,504 |
| Operating profit margin | 5% | 4% | 16% | 3% |
| EBITDA | 22,414 | 18,502 | 39,448 | 15,477 |
| EBITDA margin | 14% | 11% | 22% | 10% |
| Net profit (loss) | 7,402 | 5,194 | 24,823 | 5,399 |
| Net profit margin | 5% | 3% | 14% | 3% |
| 2017-06-30 | 2018-06-30 | 2019-06-30 | 2020-06-30 | |
|---|---|---|---|---|
| Revenue | 85,344 | 90,150 | 82,974 | 78,632 |
| Cost of goods sold | 34,774 | 32,263 | 27,035 | 36,091 |
| Gross profit (loss) | 50,570 | 57,887 | 55,939 | 42,541 |
| Gross profit margin | 59% | 64% | 67% | 54% |
| Operating expenses | 46,039 | 45,399 | 46,888 | 47,381 |
| Operating profit (loss) | 4,532 | 12,488 | 9,051 | -4,840 |
| Operating profit margin | 5% | 14% | 11% | -6% |
| EBITDA | 11,693 | 19,009 | 14,689 | 659 |
| EBITDA margin | 14% | 21% | 18% | 1% |
| Net profit (loss) | 756 | 2,224 | 7,915 | -3,732 |
| Net profit margin | 5% | 12% | 10% | -5% |
Balance sheet
| 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|
| Non-current assets | 1,223,506 | 1,314,293 | 1,276,678 | 1,263,754 |
| Intangible assets | 2,499 | 2,465 | 1,382 | 907 |
| Tangible assets | 104,490 | 101,193 | 91,781 | 83,228 |
| Financial assets | 8,773 | 9,346 | 5,052 | 3,345 |
| Other non-current assets | 1,107,744 | 1,201,289 | 1,178,463 | 1,176,274 |
| Biological assets | ||||
| Current assets | 66,580 | 72,935 | 109,704 | 97,951 |
| Inventories and prepaid expenses | 28,020 | 28,231 | 26,985 | 28,333 |
| Accounts receivable in one year | 8,850 | 5,612 | 5,384 | 5,731 |
| Other current assets | 5,995 | 4,071 | 1,610 | |
| Cash and cash equivalents | 23,716 | 39,091 | 73,263 | 62,278 |
| Total assets | 1,293,558 | 1,390,838 | 1,389,278 | 1,364,549 |
| Equity | 1,266,371 | 1,362,015 | 1,355,150 | 1,334,340 |
| Minority share of capital | ||||
| Grants and subsidies | 14,203 | 15,264 | 15,559 | 16,288 |
| Liabilities | 12,984 | 13,451 | 18,563 | 13,921 |
| Financial liabilities | 109 | 599 | ||
| Long-term liabilities | 76 | 608 | ||
| Short-term liabilities | 12,908 | 10,659 | 16,121 | 11,262 |
| Equity and liabilities | 1,293,558 | 1,390,838 | 1,389,278 | 1,364,549 |
| 2017-06-30 | 2018-06-30 | 2019-06-30 | 2020-06-30 | |
|---|---|---|---|---|
| Non-current assets | 112,785 | 108,498 | 94,499 | 88,896 |
| Intangible assets | 2,465 | 2,464 | 2,547 | 656 |
| Tangible assets | 100,716 | 96,502 | 86,862 | 84,796 |
| Financial assets | 9,333 | 9,332 | 5,048 | 3,316 |
| Other non-current assets | 271 | 201 | 42 | 127 |
| Biological assets | ||||
| Current assets | 76,075 | 97,721 | 102,856 | 88,948 |
| Inventories and prepaid expenses | 25,082 | 28,316 | 25,496 | 19,531 |
| Accounts receivable in one year | 8,752 | 8,867 | 8,239 | 9,452 |
| Other current assets | 6,123 | 170 | 334 | |
| Cash and cash equivalents | 36,118 | 60,539 | 68,951 | 59,631 |
| Total assets | 188,859 | 206,220 | 201,289 | 182,052 |
| Equity | 159,819 | 171,245 | 163,393 | 147,972 |
| Minority share of capital | ||||
| Grants and subsidies | 13,525 | 17,963 | 19,907 | 16,247 |
| Liabilities | 15,515 | 17,012 | 17,990 | 17,833 |
| Financial liabilities | 83 | 29 | ||
| Long-term liabilities | 76 | 11 | ||
| Short-term liabilities | 15,439 | 17,001 | 15,548 | 15,174 |
| Equity and liabilities | 188,859 | 206,220 | 201,289 | 182,052 |
Financial ratios
| 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 2% | 2% | 3% | 2% |
| Return on equity (ROE) | 4% | 2% | 4% | 2% |
| Return on capital employed (ROCE) | 1% | 1% | 4% | 1% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.00 | 0.00 | ||
| Current Ratio | 5.16 | 6.84 | 6.81 | 8.70 |
| Quick ratio | 2.99 | 4.19 | 5.13 | 6.18 |
| Turnover ratios | ||||
| Asset turnover | 0.13 | 0.12 | 0.13 | 0.11 |
| Fixed asset turnover | 0.14 | 0.13 | 0.14 | 0.12 |
| Equity turnover | 0.25 | 0.12 | 0.13 | 0.12 |
| Profitability ratios | ||||
| EBITDA margin | 14% | 11% | 22% | 10% |
| Operating profit margin | 5% | 4% | 16% | 3% |
| Net profit margin | 5% | 3% | 14% | 3% |
| Other ratios | ||||
| Dividends to the State | 4,508.20 | 22,141.63 | 5,500.00 | |
| Dividends paid / net profit | 0.87 | 0.89 | 1.02 |
| 2017-06-30 | 2018-06-30 | 2019-06-30 | 2020-06-30 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 2% | 17% | 3% | 1% |
| Return on equity (ROE) | 2% | 20% | 3% | 1% |
| Return on capital employed (ROCE) | 1% | 13% | 10% | -5% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.00 | 0.00 | ||
| Current Ratio | 6.84 | 5.75 | 6.62 | 5.86 |
| Quick ratio | 4.19 | 4.08 | 4.98 | 4.57 |
| Turnover ratios | ||||
| Asset turnover | 0.12 | 0.46 | 0.41 | 0.41 |
| Fixed asset turnover | 0.13 | 0.81 | 0.82 | 0.86 |
| Equity turnover | 0.12 | 0.54 | 0.50 | 0.51 |
| Profitability ratios | ||||
| EBITDA margin | 11% | 21% | 18% | 1% |
| Operating profit margin | 4% | 14% | 11% | -6% |
| Net profit margin | 3% | 12% | 10% | -5% |
| Other ratios | ||||
| Dividends to the State | 4,508.20 | |||
| Dividends paid / net profit | 0.87 |
Expectations of the state
Target average annual normalised net profit
40.5 EUR milion
About the company
- Official nameVĮ „Valstybinių miškų urėdija“
- Legal formState enterprise (VĮ)
- Company code132340880
- SectorForestry
- Line of businessAdministration of State forests
- Institution representing the StateMinistry of Environment
- Special obligationsVykdo nekomercinius specialiuosius įpareigojimus
- Share belonging to the State100%
Return to the State
30.2 EUR milion
ROE
2.0%
Number of employees
2,814
Financial data provided as at end-December 2019
Forestry enterprises were merged on 8 January 2018.
Management
- Valdas KaubrėDirector General
Information as of: 2020/10/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Ina BikuvienėVĮ Valstybinių miškų urėdija
MEMBERS OF THE BOARD OF DIRECTORS
- Gediminas JasinevičiusEuropean Forest Institute; Independent member
- Mantas ŠukevičiusIndependent member
- Normantas Marius DvareckasUAB Adventum, Independent member
- Alditas SauliusBanking expert; Independent member
- Asta ČepienėVĮ Valstybinių miškų urėdija
- Vilma SlavinskienėMinistry of Environment
Information as of: 2020/10/01
