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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

Vidaus vandens kelių direkcija operates since 1990. The main task of the company is to supervise and operate the inland waterways, regulate the river beds whit hydrotechnical structures, expand the Lithuanian inland waterway network and the inland waterway infrastructure ,also to construct and repair ships.


         2023/24 GOOD CORPORATE GOVERNANCE INDEX

                         


         2022/23 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 2022 2023
Revenue 347 957 1,271 1,658
Cost of goods sold 678 649 529 710
Gross profit (loss) -331 307 743 948
Gross profit margin -96% 32% 58% 57%
Operating expenses 102 173 511 185
Operating profit (loss) -632 -566 -485 20
Operating profit margin -182% -59% -38% 1%
EBITDA 2 54 35 379
EBITDA margin 1% 6% 3% 23%
Net profit (loss) -638 -569 -491 32
Net profit margin -184% -60% -39% 2%
2021-06 2022-06 2023-06 2024-06
Revenue 356 515 1,019 712
Cost of goods sold 316 319 184 271
Gross profit (loss) 40 196 835 442
Gross profit margin 11% 38% 82% 62%
Operating expenses 40 219 66 244
Operating profit (loss) -161 -782 241 -347
Operating profit margin -45% -152% 24% -49%
EBITDA 160 -463 425 -11
EBITDA margin 45% -90% 42% -2%
Net profit (loss) -157 -793 239 -190
Net profit margin -44% -154% 23% -27%

Balance sheet

2020 2021 2022 2023
Non-current assets 32,936 37,960 35,250 38,297
Intangible assets 10 7
Tangible assets 32,936 37,960 35,240 38,290
Financial assets
Other non-current assets
Current assets 372 1,326 2,614 2,231
Inventories and prepaid expenses 47 51 275 88
Accounts receivable in one year 267 284 325 1,121
Other current assets
Cash and cash equivalents 59 991 2,015 1,021
Total assets 33,311 39,290 37,870 40,539
Equity 18,171 17,544 8,181 8,213
Grants and subsidies 6,721 6,371 6,173 6,129
Liabilities 8,419 15,334 23,517 26,197
Financial liabilities 0 0 0 0
Long-term liabilities 6,903 10,749
Short-term liabilities 1,516 4,585 23,517 26,197
Equity and liabilities 33,311 39,290 37,870 40,539
2021-06 2022-06 2023-06 2024-06
Non-current assets 33,225 40,242 37,891 39,369
Intangible assets 0 0 9 5
Tangible assets 33,225 40,242 37,883 39,364
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Current assets 2 2 3 0
Inventories and prepaid expenses 46 166 78 259
Accounts receivable in one year 608 451 973 799
Other current assets 0 0 0 0
Cash and cash equivalents 2,853 447 630 304
Total assets 36,733 41,308 39,842 40,732
Equity 17,985 16,632 8,420 8,023
Grants and subsidies 6,546 6,195 6,151 6,109
Liabilities 12,202 18,440 25,271 26,599
Financial liabilities 0 0 0 135
Long-term liabilities 9,542 12,485 0 123
Short-term liabilities 2,660 5,955 25,271 26,476
Equity and liabilities 36,733 41,308 39,842 40,732

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) -2% -2% -1% 0%
Return on equity (ROE) -3% -3% -4% 0%
Return on capital employed (ROCE) -3% -2% -6% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 0.25 0.29 0.11 0.09
Quick ratio 0.21 0.28 0.10 0.08
Turnover ratios
Asset turnover 0.01 0.02 0.03 0.04
Fixed asset turnover 0.01 0.03 0.04 0.04
Equity turnover 0.02 0.05 0.16 0.20
Profitability ratios
EBITDA margin 1% 6% 3% 23%
Operating profit margin -182% -59% -38% 1%
Net profit margin -184% -60% -39% 2%
Other ratios
Dividends to the State 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00 0.00
2021-06 2022-06 2023-06 2024-06
Capital return ratios
Return on assets (ROA) -1% -3% 1% -1%
Return on equity (ROE) -1% -7% 4% -5%
Return on capital employed (ROCE) -1% -3% 3% -4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 1.32 0.18 0.08 0.05
Quick ratio 1.30 0.15 0.07 0.04
Turnover ratios
Asset turnover 0.01 0.01 0.03 0.02
Fixed asset turnover 0.01 0.01 0.03 0.02
Equity turnover 0.02 0.03 0.12 0.09
Profitability ratios
EBITDA margin 45% -90% 42% -2%
Operating profit margin -45% -152% 24% -49%
Net profit margin -44% -154% 23% -27%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

About the company

  • Official nameAB Vidaus vandens kelių direkcija
  • Legal formPublic limited liability company (AB)
  • Company code132090925
  • SectorTransport and Communications
  • Line of businessSupervision of inland waterways
  • Institution representing the StateMinistry of Transport and Communications
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://vvkd.lt/
ROE

0.4%

Number of employees

78

Financial data provided as at end-December 2023

Management

  • Vladimiras VinokurovasChief Executive Officer

Information as of: 2024/11/04

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Jurgita Šilinskaitė-VenslovienėIndependent member; AB „KN Energies“

MEMBERS OF THE BOARD OF DIRECTORS

  • Manfred SeitzIndependent member
  • Jurgita RimkuvienėMinistry of Transport and Communications

Information as of: 2024/11/04