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Valdymo koordinavimo centras

State Owned Enterprises

2001 The Government of the Republic of Lithuania has established a guarantee institution UAB “Investicijų ir verslo garantijos” (INVEGA). The Company’s areas of activity are provision of guarantees, provision and administration of soft loans, venture capital investment, administration of partial coverage of loan interest, implementation of financial engineering instruments and other activities.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 1,415 1,471 1,353 1,407
Cost of goods sold -342 3 83 863
Gross profit 1,756 1,468 1,270 545
Gross profit margin 124% 100% 94% 39%
Operating expenses 423 341 360 171
Operating profit 1,333 1,128 910 374
Operating profit margin 94% 77% 67% 27%
EBITDA 1,338 1,134 970 437
EBITDA margin 95% 77% 72% 31%
Net profit 1,394 1,169 929 416
Net profit margin 99% 79% 69% 30%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 720 679 728 697
Cost of goods sold -4 60 803 28
Gross profit 723 619 -74 669
Gross profit margin 100% 91% -10% 96%
Operating expenses 171 100 71 116
Operating profit 552 519 -145 553
Operating profit margin 77% 76% -20% 79%
EBITDA 607 522 -85 554
EBITDA margin 84% 77% -12% 79%
Net profit 539 500 -84 497
Net profit margin 75% 74% -12% 71%

Balance sheet

2014 2015 2016 2017
Non-current assets 11,123 8,378 9,246 9,773
Intangible assets 21 65 46 26
Tangible assets 45 79 69 44
Financial assets 10,873 8,080 8,934 9,476
Other non-current assets 184 154 197 227
Biological assets 0 0 0 0
Current assets 5,601 5,709 10,611 9,647
Inventories and prepaid expenses 29 39 36 43
Accounts receivable in one year 145 127 4,422 3,872
Other non-current assets 2,354 4,506 4,046 3,313
Cash and cash equivalents 3,073 1,036 2,107 2,419
Total assets 16,724 14,087 19,857 19,420
Equity 10,922 11,464 11,867 11,633
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 5,802 2,623 7,990 7,787
Financial liabilities 0 0 0 0
Long-term liabilities 823 712 847 861
Short-term liabilities 4,979 1,911 7,143 6,926
Equity and liabilities 16,724 14,087 19,857 19,420
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 9,246 8,622 9,773 11,487
Intangible assets 46 34 26 13
Tangible assets 69 54 44 47
Financial assets 8,934 8,340 9,476 11,202
Other non-current assets 197 194 227 225
Biological assets 0 0 0 0
Current assets 10,611 11,415 9,647 7,901
Inventories and prepaid expenses 36 27 43 40
Accounts receivable in one year 4,422 4,608 3,872 4,155
Other non-current assets 4,046 5,170 3,313 2,267
Cash and cash equivalents 2,107 1,610 2,419 1,439
Total assets 19,857 20,037 19,420 19,388
Equity 11,867 11,717 11,633 11,819
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 7,990 8,320 7,787 7,569
Financial liabilities 0 0 0 0
Long-term liabilities 847 60 861 947
Short-term liabilities 7,143 8,260 6,926 6,622
Equity and liabilities 19,857 20,037 19,420 19,388

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) 9% 8% 5% 2%
Return on equity (ROE) 13% 10% 8% 4%
Return on capital employed (ROCE) 12% 9% 7% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 1.12 2.99 1.49 1.39
Quick ratio 1.12 2.97 1.48 1.39
Turnover ratios
Asset turnover 0.09 0.10 0.08 0.07
Fixed asset turnover 0.15 0.15 0.15 0.15
Equity turnover 0.14 0.13 0.12 0.12
Profitability ratios
EBITDA margin 95% 77% 72% 31%
Operating profit margin 94% 77% 67% 27%
Net profit margin 99% 79% 69% 30%
Other ratios
Dividends to the State 627.26 627.26 650.00 312.00
Dividends paid / net profit 0.45 0.54 0.70 0.75
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 5% 6% 2% 2%
Return on equity (ROE) 8% 9% 4% 4%
Return on capital employed (ROCE) 7% 9% 3% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 1.49 1.38 1.39 1.19
Quick ratio 1.48 1.38 1.39 1.19
Turnover ratios
Asset turnover 0.08 0.08 0.07 0.07
Fixed asset turnover 0.15 0.15 0.15 0.14
Equity turnover 0.12 0.12 0.12 0.12
Profitability ratios
EBITDA margin 84% 77% -12% 79%
Operating profit margin 77% 76% -20% 79%
Net profit margin 75% 74% -12% 71%
Other ratios
Dividends to the State 650.00 312.00
Dividends paid / net profit 0.70 0.75

Expectations of the state

Target return on equity undefined

About the company

  • Official nameUAB „Investicijų ir verslo garantijos“
  • Legal formPrivate limited liability company (UAB)
  • Company code110084026
  • SectorOther
  • Line of businessGrants to small and medium-size enterprises
  • Institution representing the StateMinistry of the Economy and Innovation
  • Share belonging to the State100%
http://invega.lt/
Return to the State

312 EUR thousand

ROE

3.5%

Number of employees

48

Financial data provided as at end-December 2017

Management

  • Kęstutis MotiejūnasDirector General

Information as of: 2019/09/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Nerijus DatkūnasAssociation of Financial Analysts; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Gytis BendoriusUAB Raminora, UAB MediFocus, Biomapas CRO, UAB Altameda, UAB Vilniaus viešasis transportas; Independent member
  • Alditas SauliusIndependent member
  • Rita ArmonienėMinistry of the Economy and Innovation
  • Raimonda EidžiūnėMinistry of Finance

Information as of: 2019/09/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Arūnas ČiuladaUAB Synergy finance; Independent member

SUPERVISORY BOARD MEMBERS

  • Mantas ŠukevičiusIndendent member
  • Laura BaškytėMinistry of the Economy and Innovation
  • Osvaldas ŠmitasMinistry of the Economy and Innovation

Information as of: 2019/09/01