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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

The State Enterprise Žemės ūkio informacijos ir kaimo verslo centras was established in 2002. The enterprise carries out thirteen special obligations. Žemės ūkio informacijos ir kaimo verslo centras develops and administers registers and information systems, performs functions and implements tasks related to the administration of European Union and national support for agriculture and rural development, and temporary support for farmers.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Annual net profitability:
    • 2022 ≥ 0 percent,
    • 2023–2024 ≥ 3 percent.

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2022-2024

  • Reduction of administrative costs,%:
    • 2022 – 10
    • 2023-2024 – 5
  • Customer satisfaction,%:
    • 2022 – evaluation
    • 2023-2024 +10
  • Employee involvement,%:
    • 2022 – evaluation
    • 2023-2024 + 10
  • Good governance index:
    • 2022 – B
    • 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

2018 2019 2020 2021
Revenue 752 753 674 760
Cost of goods sold 155 213 242 357
Gross profit (loss) 596 540 432 403
Gross profit margin 79% 72% 64% 53%
Operating expenses 867 870 1,197 724
Operating profit (loss) -271 -331 -765 -321
Operating profit margin -36% -44% -113% -42%
EBITDA -81 -177 -670 -274
EBITDA margin -11% -23% -99% -36%
Net profit (loss) -270 -331 -765 -321
Net profit margin -36% -44% -113% -42%
2019-06 2020-06 2021-06 2022-06
Revenue 458 357 445 365
Cost of goods sold 105 109 186 120
Gross profit (loss) 353 248 259 245
Gross profit margin % % % %
Operating expenses 407 548 498 106
Operating profit (loss) -54 -300 -240 139
Operating profit margin % % % %
EBITDA 31 -248 -210 149
EBITDA margin 7% -69% -47% 41%
Net profit (loss) -54 -300 -239 141
Net profit margin -12% -84% -54% 39%

Balance sheet

2018 2019 2020 2021
Non-current assets 2,571 2,278 2,237 2,187
Intangible assets 551 374 248 145
Tangible assets 2,020 1,903 1,989 2,042
Financial assets
Other non-current assets
Current assets 983 1,068 648 271
Inventories and prepaid expenses 37 294 47 29
Accounts receivable in one year 2 2 93 1
Other current assets
Cash and cash equivalents 945 772 508 241
Total assets 3,748 3,346 3,190 2,772
Equity 1,838 1,507 742 421
Grants and subsidies 1,456 1,395 1,868 1,719
Liabilities 454 444 579 632
Financial liabilities
Long-term liabilities 54 14 27 37
Short-term liabilities 400 430 552 595
Equity and liabilities 3,748 3,346 3,190 2,772
2020-06 2021-06 2022-06
Non-current assets 2,218 2,057 1,958
Intangible assets 298 189 90
Tangible assets 1,919 1,868 1,868
Financial assets
Other non-current assets
Current assets 1,515 1,456 1,096
Inventories and prepaid expenses 45 67 90
Accounts receivable in one year 1 2 43
Other current assets
Cash and cash equivalents 1,469 1,387 962
Total assets 4,038 3,899 3,156
Equity 1,208 503 562
Grants and subsidies 2,010 2,349 1,625
Liabilities 820 1,047 968
Financial liabilities
Long-term liabilities 27 79 37
Short-term liabilities 794 968 931
Equity and liabilities 4,038 3,899 3,156

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) -7% -9% -23% -11%
Return on equity (ROE) -14% -20% -68% -55%
Return on capital employed (ROCE) -16% -23% -58% -29%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 2.46 2.48 1.17 0.46
Quick ratio 2.37 1.80 1.09 0.41
Turnover ratios
Asset turnover 0.20 0.21 0.21 0.25
Fixed asset turnover 0.29 0.31 0.30 0.34
Equity turnover 0.38 0.45 0.60 1.31
Profitability ratios
EBITDA margin -11% -23% -99% -36%
Operating profit margin -36% -44% -113% -42%
Net profit margin -36% -44% -113% -42%
Other ratios
Dividends to the State
Dividends paid / net profit
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) -9% % -24% 2%
Return on equity (ROE) -20% % -121% 11%
Return on capital employed (ROCE) -23% -18% -16% 13%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 2.48 1.91 1.50 1.18
Quick ratio 1.80 1.85 1.43 1.08
Turnover ratios
Asset turnover 0.21 0.18 0.11 0.10
Fixed asset turnover 0.31 0.32 0.21 0.18
Equity turnover 0.45 0.59 0.52 0.69
Profitability ratios
EBITDA margin -23% -69% -47% 41%
Operating profit margin -44% % % %
Net profit margin -44% -84% -54% 39%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity undefined

About the company

  • Official nameVĮ Žemės ūkio informacijos ir kaimo verslo centras
  • Legal formState enterprise (VĮ)
  • Company code210086220
  • SectorOther
  • Line of businessAdministration of registers and information systems in the regulatory area of ​​the Ministry of Agriculture. Execution of administrative functions of the European Union and national support for agriculture and rural development
  • Institution representing the StateMinistry of Agriculture
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://www.vic.lt/
ROE

11.2%

Number of employees

194

Financial data provided as at end-December 2021