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Valdymo koordinavimo centras

State Owned Enterprises

The company started its business in 1974. 1995 it was reorganized into a special purpose joint-stock company Jonavos Grūdai, and in 2003 it was registered as AB “Jonavos Grūdai”. The company carries out grain and rapeseed processing and storage services, as well as  grain and rapeseed wholesale.

Financial results

P/L Statment

2015 2016 2017 2018
Revenue 6,134 7,608 5,700 7,325
Cost of goods sold 5,017 6,145 4,080 6,234
Gross profit (loss) 1,118 1,464 1,620 1,091
Gross profit margin 18% 19% 28% 15%
Operating expenses 628 755 565 549
Operating profit (loss) 490 709 1,055 542
Operating profit margin 8% 9% 19% 7%
EBITDA 1,040 1,142 1,410 970
EBITDA margin 17% 15% 25% 13%
Net profit (loss) 448 656 940 459
Net profit margin 7% 9% 16% 6%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 5,749 1,361 4,340 2,785
Cost of goods sold 4,277 1,081 2,999 2,410
Gross profit 1,472 280 1,340 375
Gross profit margin 26% 21% 31% 13%
Operating expenses 480 203 363 237
Operating profit 991 78 978 138
Operating profit margin 17% 6% 23% 5%
EBITDA 1,192 239 1,171 346
EBITDA margin 21% 18% 27% 12%
Net profit 899 89 851 140
Net profit margin 16% 7% 20% 5%

Balance sheet

2015 2016 2017 2018
Non-current assets 3,183 3,222 3,389 3,512
Intangible assets 41 23 4 1
Tangible assets 3,141 3,200 3,385 3,512
Financial assets
Other non-current assets
Biological assets
Current assets 3,054 3,326 3,521 2,947
Inventories and prepaid expenses 1,880 624 1,895 1,388
Accounts receivable in one year 278 1,402 1,022 1,207
Other current assets 141
Cash and cash equivalents 755 1,299 604 352
Total assets 6,237 6,556 6,918 6,468
Equity 5,803 6,053 6,395 6,116
Minority share of capital
Grants and subsidies 11 57 48
Liabilities 433 489 453 304
Financial liabilities
Long-term liabilities
Short-term liabilities 377 420 372 203
Equity and liabilities 6,237 6,556 6,918 6,468
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 3,222 3,454 3,389 3,484
Intangible assets 23 13 4 1
Tangible assets 3,200 3,440 3,385 3,483
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 3,334 2,276 3,529 2,682
Inventories and prepaid expenses 624 341 1,895 666
Accounts receivable in one year 1,410 742 1,030 1,356
Other non-current assets 0 0 0 0
Cash and cash equivalents 1,299 1,193 604 661
Total assets 6,556 5,729 6,918 6,166
Equity 6,053 5,544 6,395 5,798
Minority share of capital 0 0 0 0
Grants and subsidies 11 10 57 53
Liabilities 492 176 465 315
Financial liabilities 0 0 0 0
Long-term liabilities 0 0 0 81
Short-term liabilities 492 176 465 234
Equity and liabilities 6,556 5,729 6,918 6,166

Financial ratios

2015 2016 2017 2018
Capital return ratios
Return on assets (ROA) 1% 10% 14% 7%
Return on equity (ROE) 1% 11% 15% 7%
Return on capital employed (ROCE) 1% 25% 34% 19%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00
Current Ratio 28.34 7.93 9.46 14.51
Quick ratio 26.79 6.44 4.37 7.68
Turnover ratios
Asset turnover 0.15 1.19 0.85 1.09
Fixed asset turnover 0.21 2.38 1.72 2.12
Equity turnover 0.15 1.28 0.92 1.17
Profitability ratios
EBITDA margin 9% 15% 25% 13%
Operating profit margin -4% 9% 19% 7%
Net profit margin -0% 9% 16% 6%
Other ratios
Dividends to the State 0.00 419.13 517.13 296.03
Dividends paid / net profit 0.00 0.64 0.55 0.65
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 10% 18% 14% 17%
Return on equity (ROE) 11% 18% 15% 17%
Return on capital employed (ROCE) 13% 21% 18% 20%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 6.78 12.95 7.59 11.47
Quick ratio 5.51 11.01 3.51 8.62
Turnover ratios
Asset turnover 1.19 1.29 0.85 1.20
Fixed asset turnover 2.38 2.17 1.72 2.05
Equity turnover 1.29 1.33 0.92 1.26
Profitability ratios
EBITDA margin 21% 18% 27% 12%
Operating profit margin 17% 6% 23% 5%
Net profit margin 16% 7% 20% 5%
Other ratios
Dividends to the State 206.25 362.82
Dividends paid / net profit 0.45 0.55

Expectations of the state

Target return on equity

11,3%

About the company

  • Official nameAB „Jonavos grūdai“
  • Legal formPublic limited liability company (AB)
  • Company code156511418
  • SectorOther
  • Line of businessWholesale of grain and rapeseeds
  • Institution representing the StateMinistry of Agriculture
  • Special obligationsVykdo nekomercinius specialiuosius įpareigojimus
  • Share belonging to the State70.13%
http://www.jonavosgrudai.lt/
Return to the State

296 EUR thousand

ROE

7.3%

Number of employees

44

Financial data provided as at end-December 2018

Management

  • Paulius KaselisDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Jurij KornijenkoMinistry of Agriculture

MEMBERS OF THE BOARD OF DIRECTORS

  • Jonas LisauskasMinistry of Agriculture
  • Tomas UrbonasUAB Agrokoncerno grūdai
  • Arnoldas SaldysACME EUROPE JSC; Independent member
  • Gedvidas BelickasUAB Baltic Private Equity, UAB Vestaka; Independent member

Information as of: 2019/11/01