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Valdymo koordinavimo centras

State Owned Enterprises

“Detonas” was registered as a public limited company in 1994 after the reorganization of VF Granitas. Currently, the company has three divisions (Kaunas, Pakruojis and Naujoji Akmenė), which perform drilling and blasting works throughout Lithuania.

Financial results

P/L Statment

2015 2016 2017 2018
Revenue 2,245 2,370 3,232 3,401
Cost of goods sold 1,620 1,630 1,978 2,056
Gross profit (loss) 626 740 1,254 1,345
Gross profit margin 28% 31% 39% 40%
Operating expenses 505 439 633 705
Operating profit (loss) 121 301 621 640
Operating profit margin 5% 13% 19% 19%
EBITDA 354 571 875 865
EBITDA margin 16% 24% 27% 25%
Net profit (loss) 119 312 593 624
Net profit margin 5% 13% 18% 18%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 1,406 1,259 1,973 1,268
Cost of goods sold 855 832 1,147 851
Gross profit 551 428 826 416
Gross profit margin 39% 34% 42% 33%
Operating expenses 236 321 313 333
Operating profit 316 107 514 83
Operating profit margin 22% 8% 26% 7%
EBITDA 459 253 622 194
EBITDA margin 33% 20% 32% 15%
Net profit 303 155 435 82
Net profit margin 22% 12% 22% 6%

Balance sheet

2015 2016 2017 2018
Non-current assets 2,501 2,281 2,786 2,917
Intangible assets 9 11 8 9
Tangible assets 2,391 2,270 2,659 2,886
Financial assets 101 101
Other non-current assets 18 23
Biological assets
Current assets 1,302 1,559 1,508 1,087
Inventories and prepaid expenses 229 188 147 266
Accounts receivable in one year 397 417 384 334
Other current assets 202 202 101
Cash and cash equivalents 475 752 876 487
Total assets 3,824 3,881 4,342 4,015
Equity 3,594 3,654 4,032 3,742
Minority share of capital
Grants and subsidies
Liabilities 230 226 310 272
Financial liabilities
Long-term liabilities 8
Short-term liabilities 230 226 310 251
Equity and liabilities 3,824 3,880 4,342 4,015
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 2,281 2,301 2,768 2,870
Intangible assets 11 10 8 11
Tangible assets 2,270 2,291 2,659 2,758
Financial assets 0 0 101 101
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 1,600 1,844 1,555 1,598
Inventories and prepaid expenses 228 235 194 197
Accounts receivable in one year 417 787 384 806
Other non-current assets 202 202 101 101
Cash and cash equivalents 752 619 876 494
Total assets 3,881 4,145 4,324 4,467
Equity 3,654 3,579 4,014 3,697
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 226 566 310 771
Financial liabilities 0 0 0 0
Long-term liabilities 0 0 0 0
Short-term liabilities 226 566 310 771
Equity and liabilities 3,881 4,145 4,324 4,467

Financial ratios

2015 2016 2017 2018
Capital return ratios
Return on assets (ROA) -5% 8% 14% 15%
Return on equity (ROE) -5% 9% 15% 16%
Return on capital employed (ROCE) -5% 20% 34% 35%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00
Current Ratio 14.06 6.89 4.86 4.34
Quick ratio 13.96 6.06 4.39 3.28
Turnover ratios
Asset turnover 0.42 0.62 0.79 0.81
Fixed asset turnover 0.73 0.99 1.28 1.19
Equity turnover 0.44 0.65 0.84 0.87
Profitability ratios
EBITDA margin 15% 24% 27% 25%
Operating profit margin -11% 13% 19% 19%
Net profit margin -11% 13% 18% 18%
Other ratios
Dividends to the State 0.00 230.50 413.10 550.40
Dividends paid / net profit 0.00 0.74 0.70 0.88
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 8% 11% 14% 12%
Return on equity (ROE) 9% 13% 15% 14%
Return on capital employed (ROCE) 10% 15% 18% 17%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 7.07 3.26 5.02 2.07
Quick ratio 6.06 2.84 4.39 1.82
Turnover ratios
Asset turnover 0.62 0.67 0.79 0.75
Fixed asset turnover 0.99 1.13 1.28 1.25
Equity turnover 0.65 0.77 0.84 0.89
Profitability ratios
EBITDA margin 33% 20% 32% 15%
Operating profit margin 22% 8% 26% 7%
Net profit margin 22% 12% 22% 6%
Other ratios
Dividends to the State 230.50 413.10
Dividends paid / net profit 0.74 0.70

Expectations of the state

Target return on equity

6,3%

About the company

  • Official nameAB „Detonas“
  • Legal formPublic limited liability company (AB)
  • Company code134170932
  • SectorOther
  • Line of businessDemolition works
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.detonas.eu/
Return to the State

550 EUR thousand

ROE

16.1%

Number of employees

67

Financial data provided as at end-December 2018

Management

  • Vytautas LunskusDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Mantas ŠukevičiusIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Liutauras ŠlajusMinistry of Transport and Communications
  • Arvydas DarulisIndependent member

Information as of: 2019/11/01