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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

UAB Viešųjų investicijų plėtros agentūra (VIPA), a financial institution operating since 2013 and owned by UAB Investicijų ir verslo garantijos, has the status of a National Development Institution (NDI) and promotes long-term and sustainable investments in areas of strategic importance to Lithuania, where there is a lack of financing. VIPA provides, implements and manages financial instruments for public sector investment, modernisation of public infrastructure and public services.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual EBITDA:
    • 2022–2024 ≥ 1,1 ml. Eur
  • Capital adequacy:
    • 2022–2024 ≥ 20 percent.

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • Percentage of completed projects that have achieved the objectives of the program / financial instruments / measures:
    • 2022-2024 ≥ 95
  • Satisfaction of customer applicants and partners with the quality of provided services,%:
    • 2022-2024 ≥ 85
  • Voluntary staff turnover after probation,%:
    • 2022-2024 ≤ 17
  • Funds mobilized for the development of incentive financial instruments in areas where there is a market failure, ml. EUR on an accrual basis:

    • 2022 – 810
    • 2023 – 850
    • 2024 – 900

         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 2,241 3,158 4,088 4,944
Cost of goods sold 769 903 1,354 1,774
Gross profit (loss) 1,472 2,255 2,733 3,169
Gross profit margin 66% 71% 67% 64%
Operating expenses 1,220 1,434 1,788 2,385
Operating profit (loss) 252 821 945 785
Operating profit margin 11% 26% 23% 16%
EBITDA 449 1,029 1,201 1,366
EBITDA margin 20% 33% 29% 28%
Net profit (loss) 258 776 839 762
Net profit margin 12% 25% 21% 15%
2019-06 2020-06 2021-06 2022-06
Revenue 971 1,443 1,886 2,435
Cost of goods sold 340 505 550 809
Gross profit (loss) 631 938 1,336 1,626
Gross profit margin % % % %
Operating expenses 560 591 690 947
Operating profit (loss) 71 347 647 679
Operating profit margin % % % %
EBITDA 111 436 748 970
EBITDA margin 11% 30% 40% 40%
Net profit (loss) 89 311 561 616
Net profit margin 9% 22% 30% 25%

* 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 547 4,333 14,956 17,417
Intangible assets 287 301 827 917
Tangible assets 49 49 86 109
Financial assets 0 3,864 13,772 16,200
Other non-current assets 210 119 270 191
Current assets 11,409 9,265 18,912 15,822
Inventories and prepaid expenses 0 0 0
Accounts receivable in one year 886 1,563 2,431 4,733
Other current assets 10,000 1,499 0 5,500
Cash and cash equivalents 523 6,203 16,481 5,589
Total assets 11,971 13,620 33,942 33,309
Equity 11,545 12,116 32,393 32,431
Grants and subsidies
Liabilities 418 1,460 1,192 452
Financial liabilities 0 101 243 154
Long-term liabilities 97 0 127 13
Short-term liabilities 321 1,460 1,065 439
Equity and liabilities 11,971 13,620 33,942 33,309
2020-06 2021-06 2022-06
Non-current assets 4,168 10,790 16,503
Intangible assets 284 323 848
Tangible assets 205 67 86
Financial assets 3,665 10,288 15,347
Other non-current assets 14 112 223
Current assets 8,203 3,424 17,790
Inventories and prepaid expenses
Accounts receivable in one year 1,067 1,962 2,308
Other current assets 5,799
Cash and cash equivalents 1,337 1,462 15,483
Total assets 12,384 14,238 34,344
Equity 11,856 13,677 32,284
Grants and subsidies
Liabilities 492 539 1,960
Financial liabilities
Long-term liabilities 99 30 69
Short-term liabilities 388 504 1,879
Equity and liabilities 12,384 14,238 34,344

* 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) 2% 6% 4% 2%
Return on equity (ROE) 4% 7% 4% 2%
Return on capital employed (ROCE) 2% 7% 3% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.01 0.01 0.00
Current Ratio 35.55 6.35 17.75 36.06
Quick ratio 35.55 6.35 17.75 36.06
Turnover ratios
Asset turnover 0.19 0.23 0.12 0.15
Fixed asset turnover 4.10 0.73 0.27 0.28
Equity turnover 0.19 0.26 0.13 0.15
Profitability ratios
EBITDA margin 20% 33% 29% 28%
Operating profit margin 11% 26% 23% 16%
Net profit margin 12% 25% 21% 15%
Other ratios
Dividends to the State 205.75 562.60 719.98 982.46
Dividends paid / net profit 0.80 0.72 0.86 1.29

* Left axis

** Right axis

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

2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 2% % 4% 4%
Return on equity (ROE) 4% % 5% 4%
Return on capital employed (ROCE) 5% 6% 10% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 35.55 21.12 6.80 9.47
Quick ratio 35.55 21.12 6.80 9.47
Turnover ratios
Asset turnover 0.19 0.23 0.14 0.10
Fixed asset turnover 5.16 0.69 0.25 0.18
Equity turnover 0.32 0.24 0.15 0.11
Profitability ratios
EBITDA margin 20% 30% 40% 40%
Operating profit margin 11% % % %
Net profit margin 12% 22% 30% 25%
Other ratios
Dividends to the State 205.80
Dividends paid / net profit 0.80

Financial statments

2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos
2020 m. 6 mėn. tarpinės ataskaitos 2020 m. metinės ataskaitos
2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos
2018 m. metinės ataskaitos 2018 m. 6 mėn. tarpinės ataskaitos
2017 m. 6 mėn. tarpinės ataskaitos 2017 m. metinės ataskaitos
2016 m. metinės ataskaitos 2016 m. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės ataskaitos
2015 m. metinės ataskaitos 2015 m. 9 mėn. tarpinės ataskaitos 2015 m. 3 mėn. tarpinės ataskaitos
2014 m. metinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos
2013 m. 6 mėn. tarpinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos

Expectations of the state

Target return on equity undefined

Letter of Expectations

About the company

  • Official nameUAB Viešųjų investicijų plėtros agentūra
  • Legal formPrivate limited liability company (UAB)
  • Company code303039520
  • SectorOther
  • Line of businessOffers financial services for public sector intestments
  • Institution representing the StateLithuanian Postal Group
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://www.vipa.lt/
Return to the State

982 EUR thousand

ROE

2.4%

Number of employees

77

Financial data provided as at end-December 2022