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State Owned Enterprises

AB Kiaulių veislininkystė was established in 2013 December 31,by  separating from AB Lietuvos veislininkystė. The company controls the productivity of breeding pigs, fattening of breeding pigs, slaughter and carcass evaluation.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 1,388 1,253 1,620 1,290
Cost of goods sold 1,303 1,103 1,307 1,181
Gross profit 86 150 314 109
Gross profit margin 6% 12% 19% 8%
Operating expenses 187 170 322 289
Operating profit -101 -20 -9 -181
Operating profit margin -7% -2% -1% -14%
EBITDA -79 31 53 -126
EBITDA margin -6% 2% 3% -10%
Net profit -94 -21 2 -181
Net profit margin -7% -2% 0% -14%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 831 777 513 458
Cost of goods sold 707 709 473 408
Gross profit 125 68 41 50
Gross profit margin 15% 9% 8% 11%
Operating expenses 160 152 138 129
Operating profit -36 -84 -97 -79
Operating profit margin -4% -11% -19% -17%
EBITDA -7 -56 -70 -50
EBITDA margin -1% -7% -14% -11%
Net profit -34 -84 -98 -77
Net profit margin -4% -11% -19% -17%

Balance sheet

2014 2015 2016 2017
Non-current assets 1,560 1,558 1,385 1,329
Intangible assets 0 0 0 0
Tangible assets 1,440 1,406 1,380 1,326
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 119 152 5 3
Current assets 123 112 314 306
Inventories and prepaid expenses 31 23 227 246
Accounts receivable in one year 78 66 83 59
Other non-current assets 0 0 0 0
Cash and cash equivalents 14 23 4 2
Total assets 1,683 1,670 1,699 1,635
Equity 1,496 1,477 1,479 1,298
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 187 192 220 337
Financial liabilities 0 0 0 0
Long-term liabilities 0 0 0 0
Short-term liabilities 187 192 220 337
Equity and liabilities 1,683 1,670 1,699 1,635
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 1,385 1,357 1,329 1,302
Intangible assets 0 0 0 0
Tangible assets 1,380 1,353 1,326 1,299
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 5 4 3 4
Current assets 314 336 306 303
Inventories and prepaid expenses 227 29 246 26
Accounts receivable in one year 83 124 59 62
Other non-current assets 0 181 0 196
Cash and cash equivalents 4 2 2 19
Total assets 1,699 1,693 1,635 1,605
Equity 1,479 1,396 1,298 1,221
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 220 297 337 384
Financial liabilities 0 0 0 0
Long-term liabilities 0 0 0 0
Short-term liabilities 220 297 337 384
Equity and liabilities 1,699 1,693 1,635 1,605

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) -6% -1% 0% -11%
Return on equity (ROE) -6% -1% 0% -13%
Return on capital employed (ROCE) -6% -1% 0% -13%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 0.66 0.58 1.43 0.91
Quick ratio 0.49 0.46 0.40 0.18
Turnover ratios
Asset turnover 0.83 0.33 0.96 0.77
Fixed asset turnover 0.89 0.36 1.10 0.95
Equity turnover 0.93 0.38 1.10 0.93
Profitability ratios
EBITDA margin -6% 2% 3% -10%
Operating profit margin -7% -2% -1% -14%
Net profit margin -7% -2% 0% -14%
Other ratios
Dividends to the State 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00 0.00
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 0% -7% -11% -11%
Return on equity (ROE) 0% -8% -13% -13%
Return on capital employed (ROCE) 0% -8% -13% -13%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 1.43 1.13 0.91 0.79
Quick ratio 0.40 1.03 0.18 0.72
Turnover ratios
Asset turnover 0.96 0.94 0.77 0.59
Fixed asset turnover 1.10 1.17 0.95 0.73
Equity turnover 1.10 1.11 0.93 0.74
Profitability ratios
EBITDA margin -1% -7% -14% -11%
Operating profit margin -4% -11% -19% -17%
Net profit margin -4% -11% -19% -17%
Other ratios
Dividends to the State 0.00 0.00
Dividends paid / net profit 0.00 0.00

Expectations of the state

Target return on equity

5.0%

About the company

  • Official nameAB „Kiaulių veislininkystė“
  • Legal formPublic limited liability company (AB)
  • Company code303212036
  • SectorOther
  • Line of businessPig husbandry
  • Institution representing the StateMinistry of Agriculture
  • Share belonging to the State99%
http://kiauliuveislininkyste.lt/
ROE

-13.0%

Number of employees

35

Financial data provided as at end-December 2017

Management

  • Vilius RekštysDirector General

Information as of: 2019/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Arūnas ŠileikaMinistry of Agriculture

MEMBERS OF THE BOARD OF DIRECTORS

  • Virmantė VoinilkoMinistry of Agriculture
  • Evaldas PranckevičiusMinistry of Agriculture
  • Algis BaravykasLithuanian Pig Producers Association; Independent member
  • Irmantas PovilauskasVĮ Žemės ūkio informacijos ir kaimo verslo centras; Independent member
  • Edmundas AdomavičiusŽŪB Gražionių bekonas; Independent member

Information as of: 2019/05/01