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Valdymo koordinavimo centras

State Owned Enterprises

AB Lietuvos radijo ir televizijos centras (LRTC) started its activity in 1926 and acquired the status of a public company in 1997. The company provides television and radio program transmission, data transmission and wireless broadband internet services, accommodates equipment of broadcasters and telecommunication system operators in the company’s facilities. The company’s main competitors are TEO LT, Omnitel, Bitė Lietuva, Tele 2 and Balticum TV.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 18,550 18,825 19,120 19,854
Cost of goods sold 13,974 13,740 14,947 13,595
Gross profit 4,576 5,084 4,174 6,259
Gross profit margin 25% 27% 22% 32%
Operating expenses 4,505 5,204 5,906 6,520
Operating profit 70 -120 -1,733 -261
Operating profit margin 0% -1% -9% -1%
EBITDA 5,569 5,399 5,860 5,679
EBITDA margin 30% 29% 31% 29%
Net profit 72 171 269 141
Net profit margin 0% 1% 1% 1%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 9,602 9,392 10,462 9,924
Cost of goods sold 7,706 6,795 6,800 6,824
Gross profit 1,895 2,597 3,662 3,100
Gross profit margin 20% 28% 35% 31%
Operating expenses 2,956 2,753 3,767 2,888
Operating profit -1,060 -156 -105 212
Operating profit margin -11% -2% -1% 2%
EBITDA 3,812 2,603 3,075 3,162
EBITDA margin 40% 28% 29% 32%
Net profit 769 719 -578 525
Net profit margin 8% 8% -6% 5%

Balance sheet

2014 2015 2016 2017
Non-current assets 30,580 28,011 31,493 31,738
Intangible assets 77 84 129 89
Tangible assets 29,301 27,904 31,343 31,622
Financial assets 1,191 7 0 0
Other non-current assets 12 17 22 26
Biological assets 0 0 0 0
Current assets 7,271 12,730 8,986 6,832
Inventories and prepaid expenses 1,146 1,286 2,289 1,526
Accounts receivable in one year 3,023 3,482 3,077 2,724
Other non-current assets 0 0 0 0
Cash and cash equivalents 3,102 7,962 3,620 2,582
Total assets 37,851 40,741 40,480 38,569
Equity 31,353 31,559 31,828 32,051
Minority share of capital 0 0 0 0
Grants and subsidies 16 0 0 0
Liabilities 6,481 9,182 8,652 6,519
Financial liabilities 4,224 188 145 102
Long-term liabilities 2,973 952 1,075 4,615
Short-term liabilities 3,509 8,231 7,576 1,904
Equity and liabilities 37,851 40,741 40,480 38,569
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 31,493 31,004 31,738 30,420
Intangible assets 129 95 89 83
Tangible assets 31,343 30,885 31,622 30,309
Financial assets 0 0 0 0
Other non-current assets 22 24 26 29
Biological assets 0 0 0 0
Current assets 8,986 9,624 6,832 8,891
Inventories and prepaid expenses 2,289 3,651 1,526 1,397
Accounts receivable in one year 3,077 2,938 2,724 2,853
Other non-current assets 0 0 0 0
Cash and cash equivalents 3,620 3,035 2,582 4,642
Total assets 40,480 40,628 38,569 39,311
Equity 31,828 32,405 32,051 32,245
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 8,652 8,223 6,519 7,066
Financial liabilities 145 124 102 81
Long-term liabilities 1,075 1,055 4,615 4,606
Short-term liabilities 7,576 7,169 1,904 2,459
Equity and liabilities 40,480 40,628 38,569 39,311

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) 0% 0% 1% 0%
Return on equity (ROE) 0% 1% 1% 0%
Return on capital employed (ROCE) -0% 0% 2% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.11 0.00 0.00 0.00
Current Ratio 2.07 1.55 1.19 3.59
Quick ratio 1.75 1.39 0.88 2.79
Turnover ratios
Asset turnover 0.47 0.48 0.47 0.50
Fixed asset turnover 0.58 0.64 0.64 0.63
Equity turnover 0.59 0.60 0.60 0.62
Profitability ratios
EBITDA margin 30% 29% 31% 29%
Operating profit margin 0% -1% -9% -1%
Net profit margin 0% 1% 1% 1%
Other ratios
Dividends to the State 0.00 0.00 0.00 330.70
Dividends paid / net profit 0.00 0.00 0.00 2.35
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 1% 4% 0% -0%
Return on equity (ROE) 1% 5% 0% -0%
Return on capital employed (ROCE) 2% 3% 0% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 1.19 1.34 3.59 3.61
Quick ratio 0.88 0.83 2.79 3.05
Turnover ratios
Asset turnover 0.47 0.45 0.50 0.51
Fixed asset turnover 0.64 0.62 0.63 0.66
Equity turnover 0.60 0.60 0.62 0.63
Profitability ratios
EBITDA margin 40% 28% 29% 32%
Operating profit margin -11% -2% -1% 2%
Net profit margin 8% 8% -6% 5%
Other ratios
Dividends to the State 0.00 330.70
Dividends paid / net profit 0.00 2.35

Expectations of the state

Target return on equity

4,5%

About the company

  • Official nameAB Lietuvos radijo ir televizijos centras
  • Legal formPublic limited liability company (AB)
  • Company code120505210
  • SectorTransport and Communications
  • Line of businessBroadcasting of radio and television, broadband internet services
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.telecentras.lt/
Return to the State

331 EUR thousand

ROE

0.4%

Number of employees

321

Financial data provided as at end-December 2017

Management

  • Remigijus ŠerisDirector General

Information as of: 2019/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Egidijus VaišvilasIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Viktorija TrimbelUAB Quantum Capital; Independent member
  • Janina LaskauskienėMinistry of Transport and Communications
  • Vidas DanieliusStebėsenos ir prognozių agentūra

Information as of: 2019/05/01