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Valdymo koordinavimo centras

State Owned Enterprises

In 2000 The State Enterprise Giraitės ginkluotės gamyba was officially established and registered. In 2007, it was reorganized into a public limited company. The company’s core of business is the manufacture and sale of the latest and most modern ammunition.

Financial results

P/L Statment

2015 2016 2017 2018
Revenue 3,902 5,773 6,899 9,408
Cost of goods sold 2,704 4,372 5,149 6,888
Gross profit (loss) 1,198 1,400 1,751 2,520
Gross profit margin 31% 24% 25% 27%
Operating expenses 700 734 698 809
Operating profit (loss) 497 666 1,053 1,711
Operating profit margin 13% 12% 15% 18%
EBITDA 713 960 1,414 2,357
EBITDA margin 18% 17% 20% 25%
Net profit (loss) 464 178 406 1,175
Net profit margin 12% 3% 6% 12%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 3,686 3,725 3,174 4,635
Cost of goods sold 2,793 2,761 2,388 3,399
Gross profit 894 964 786 1,235
Gross profit margin 24% 26% 25% 27%
Operating expenses 398 343 355 368
Operating profit 496 622 432 868
Operating profit margin 13% 17% 14% 19%
EBITDA 670 810 604 1,308
EBITDA margin 18% 22% 19% 28%
Net profit 35 452 -46 907
Net profit margin 1% 12% -1% 20%

Balance sheet

2015 2016 2017 2018
Non-current assets 13,576 13,689 13,643 13,075
Intangible assets 1 1 13 8
Tangible assets 13,575 13,688 13,628 13,068
Financial assets 0
Other non-current assets 2
Biological assets
Current assets 7,391 5,919 6,009 6,824
Inventories and prepaid expenses 4,330 5,147 5,431 4,478
Accounts receivable in one year 105 296 223 74
Other current assets
Cash and cash equivalents 2,956 477 355 2,272
Total assets 20,978 19,621 19,671 19,925
Equity 6,771 6,948 7,354 8,530
Minority share of capital
Grants and subsidies
Liabilities 14,206 12,671 12,316 11,394
Financial liabilities 13,636 11,989 11,786 10,775
Long-term liabilities 7,405 11,636 11,516 10,726
Short-term liabilities 6,801 1,035 800 668
Equity and liabilities 20,978 19,621 19,671 19,925
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 13,689 13,809 13,643 13,229
Intangible assets 1 15 13 10
Tangible assets 13,688 13,794 13,628 13,217
Financial assets 0 0 0 0
Other non-current assets 0 0 2 2
Biological assets 0 0 0 0
Current assets 5,932 6,342 6,028 7,365
Inventories and prepaid expenses 5,160 5,502 5,450 5,164
Accounts receivable in one year 296 331 223 607
Other non-current assets 0 0 0 0
Cash and cash equivalents 477 510 355 1,595
Total assets 19,621 20,151 19,671 20,594
Equity 6,948 7,400 7,354 8,304
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 12,673 12,751 12,317 12,290
Financial liabilities 11,989 11,736 11,786 11,486
Long-term liabilities 11,636 11,816 11,516 11,516
Short-term liabilities 1,037 935 801 774
Equity and liabilities 19,621 20,151 19,671 20,594

Financial ratios

2015 2016 2017 2018
Capital return ratios
Return on assets (ROA) 2% 1% 2% 6%
Return on equity (ROE) 2% 3% 6% 15%
Return on capital employed (ROCE) 3% 7% 11% 20%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.09 1.73 1.60 1.26
Current Ratio 0.61 5.72 7.51 10.21
Quick ratio 0.40 0.75 0.72 3.51
Turnover ratios
Asset turnover 1.34 0.28 0.35 0.48
Fixed asset turnover 1.64 0.42 0.50 0.70
Equity turnover 2.21 0.84 0.96 1.18
Profitability ratios
EBITDA margin 5% 17% 20% 25%
Operating profit margin 1% 12% 15% 18%
Net profit margin 1% 3% 6% 12%
Other ratios
Dividends to the State 83.71
Dividends paid / net profit 0.50
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 1% 2% 2% 4%
Return on equity (ROE) 3% 7% 6% 11%
Return on capital employed (ROCE) 4% 6% 6% 8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.61 0.58 0.60 0.56
Current Ratio 5.72 6.78 7.53 9.52
Quick ratio 0.75 0.90 0.72 2.84
Turnover ratios
Asset turnover 0.28 0.37 0.35 0.38
Fixed asset turnover 0.42 0.54 0.50 0.58
Equity turnover 0.84 1.04 0.96 0.99
Profitability ratios
EBITDA margin 18% 22% 19% 28%
Operating profit margin 13% 17% 14% 19%
Net profit margin 1% 12% -1% 20%
Other ratios
Dividends to the State 0.00 0.00
Dividends paid / net profit 0.00 0.00

Expectations of the state

About the company

  • Official nameAB Giraitės ginkluotės gamykla
  • Legal formPublic limited liability company (AB)
  • Company code110080729
  • SectorOther
  • Line of businessProduction of ammo
  • Institution representing the StateMinistry of Finance
  • Share belonging to the State100%
http://www.ggg-ammo.lt/
ROE

14.8%

Number of employees

71

Financial data provided as at end-December 2018

Management

  • Aleksandras NikonovasDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vygantas SliesoraitisAL Holdingas; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Laima KalinauskienėMinistry of Finance
  • Remigijus ŠtarasUAB Topo grupė; Independent member
  • Eimundas MačiulisUAB Verslo vartai; Independent member
  • Asta SinkevičienėMinistry of Finance

Information as of: 2019/11/01