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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

“Žemės ūkio paskolų garantijų fondas” is a financial institution established in 1997, providing guarantees for loans for investment, acquisition of short-term assets and payment of services, purchase of agricultural products, etc.

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 641 1,095 671 1,163
Cost of goods sold 449 618 228 532
Gross profit (loss) 192 477 443 631
Gross profit margin 30% 44% 66% 54%
Operating expenses 590 499 530 412
Operating profit (loss) -397 -22 -87 219
Operating profit margin -62% -2% -13% 19%
EBITDA -281 58 -19 262
EBITDA margin -44% 5% -3% 23%
Net profit (loss) -63 183 72 245
Net profit margin -10% 17% 11% 21%
2018-06 2019-06 2020-06 2021-06
Revenue 554 318 319 734
Cost of goods sold 347 159 93 367
Gross profit (loss) 206 159 226 367
Gross profit margin % % 50% 50%
Operating expenses 250 249 226 289
Operating profit (loss) -43 -90 -1 78
Operating profit margin % % -28% 11%
EBITDA -63 216
EBITDA margin % % -20% 29%
Net profit (loss) 64 -18 65 189
Net profit margin % % -6% 26%

Balance sheet

2017 2018 2019 2020
Non-current assets 12,497 19,188 16,724 17,251
Intangible assets 27 41 24 32
Tangible assets 31 25 20 22
Financial assets 12,438 19,121 16,680 17,197
Other non-current assets
Current assets 8,283 1,607 3,571 3,694
Inventories and prepaid expenses 1 3 2 2
Accounts receivable in one year 40 58 52 70
Other current assets 8,069 1,115 3,309 2,640
Cash and cash equivalents 173 431 208 982
Total assets 20,789 20,806 20,298 20,954
Equity 2,848 2,941 2,873 3,029
Grants and subsidies 0 11 8 16
Liabilities 17,939 17,850 17,414 17,903
Financial liabilities
Long-term liabilities
Short-term liabilities 32 27 23 140
Equity and liabilities 20,789 20,806 20,298 20,954
2019-06 2020-06 2021-06
Non-current assets 15,844 14,067 18,053
Intangible assets 33 17 29
Tangible assets 30 17 18
Financial assets 15,782 14,033 18,006
Other non-current assets
Current assets 4,473 6,171 3,356
Inventories and prepaid expenses 6 2 0
Accounts receivable in one year 36 160 377
Other current assets 4,271 4,511 2,649
Cash and cash equivalents 160 1,498 330
Total assets 20,337 20,247 21,438
Equity 2,784 2,849 3,038
Grants and subsidies 9 6 44
Liabilities 17,544 17,392 18,356
Financial liabilities
Long-term liabilities
Short-term liabilities
Equity and liabilities 20,337 20,247 21,438

Financial ratios

2018 2019 2020
Capital return ratios
Return on assets (ROA) 1% 0% 1%
Return on equity (ROE) 6% 2% 8%
Return on capital employed (ROCE) 0% -1% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 58.66 153.93 26.48
Quick ratio 58.54 153.83 26.47
Turnover ratios
Asset turnover 0.05 0.03 0.06
Fixed asset turnover 0.07 0.04 0.07
Equity turnover 0.38 0.23 0.39
Profitability ratios
EBITDA margin 5% -3% 23%
Operating profit margin -2% -13% 19%
Net profit margin 17% 11% 21%
Other ratios
Dividends to the State 139.20 89.10 179.40
Dividends paid / net profit 0.76 1.24 0.73
2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) % % 2%
Return on equity (ROE) % % 13%
Return on capital employed (ROCE) -0% -1% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio
Quick ratio
Turnover ratios
Asset turnover 0.03 0.02 0.04
Fixed asset turnover 0.04 0.02 0.05
Equity turnover 0.23 0.11 0.25
Profitability ratios
EBITDA margin % -20% 29%
Operating profit margin % -28% 11%
Net profit margin % -6% 26%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity

6.5%

About the company

  • Official nameUAB Žemės ūkio paskolų garantijų fondas
  • Legal formPrivate limited liability company (UAB)
  • Company code124261860
  • SectorOther
  • Line of businessAgricultural loan guarantees
  • Institution representing the StateMinistry of Agriculture
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://www.garfondas.lt/
Return to the State

179 EUR thousand

ROE

8.3%

Number of employees

19

Financial data provided as at end-December 2020

Management

  • L. e. p. Romalda GlobienėActing Director General

Information as of: 2021/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vygantas KatkevičiusMinistry of Agriculture

MEMBERS OF THE BOARD OF DIRECTORS

  • Snieguolė ValiulienėMinistry of Agriculture
  • Saulius JasiusMinistry of Agriculture
  • Alfredas GustasMinistry of Agriculture

Information as of: 2021/10/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Virginija ŽoštautienėMinistry of Agriculture

SUPERVISORY BOARD MEMBERS

  • Dalius DarulisVilniaus vystymo kompanija; Independent member
  • Sigita Seemann-IgnatjevaUAB Best Finance; UAB Jogos namai Tejomaja; Independent member
  • Lina LiubauskaitėOffice of the Government

Information as of: 2021/10/01