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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

2015 2016 2017 2018
Revenue 18,825 19,120 19,854 20,080
Cost of goods sold 13,740 14,947 13,595 13,057
Gross profit (loss) 5,084 4,174 6,259 7,023
Gross profit margin 27% 22% 32% 35%
Operating expenses 5,204 5,906 6,520 6,543
Operating profit (loss) -120 -1,733 -261 480
Operating profit margin -1% -9% -1% 2%
EBITDA 5,399 5,860 5,679 6,016
EBITDA margin 29% 31% 29% 30%
Net profit (loss) 171 269 141 933
Net profit margin 1% 1% 1% 5%
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

2015 2016 2017 2018
Non-current assets 28,011 31,493 31,738 30,424
Intangible assets 84 129 89 191
Tangible assets 27,904 31,343 31,622 30,118
Financial assets 7
Other non-current assets 17 22 26 115
Biological assets
Current assets 12,730 8,986 6,832 10,031
Inventories and prepaid expenses 1,618 2,289 1,526 923
Accounts receivable in one year 3,150 3,077 2,724 2,841
Other current assets
Cash and cash equivalents 7,962 3,620 2,582 6,267
Total assets 40,741 40,480 38,569 40,455
Equity 31,559 31,828 32,051 32,413
Minority share of capital
Grants and subsidies
Liabilities 9,182 8,652 6,519 8,042
Financial liabilities 188 145 102 59
Long-term liabilities 952 1,075 4,615 4,613
Short-term liabilities 8,231 7,380 1,725 3,250
Equity and liabilities 40,742 40,480 38,569 40,455
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

2016 2017 2018
Capital return ratios
Return on assets (ROA) 1% 0% 2%
Return on equity (ROE) 1% 0% 3%
Return on capital employed (ROCE) 3% 1% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00
Current Ratio 1.22 3.96 3.09
Quick ratio 0.91 3.08 2.80
Turnover ratios
Asset turnover 0.47 0.50 0.51
Fixed asset turnover 0.64 0.63 0.65
Equity turnover 0.60 0.62 0.62
Profitability ratios
EBITDA margin 31% 29% 30%
Operating profit margin -9% -1% 2%
Net profit margin 1% 1% 5%
Other ratios
Dividends to the State 142.60 331.00 955.00
Dividends paid / net profit 0.53 2.35 1.02
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

955 EUR thousand

ROE

2.9%

Number of employees

314

Financial data provided as at end-December 2018

Management

  • Remigijus ŠerisDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vidas DanieliusMonitoring and Forecasting Agency

MEMBERS OF THE BOARD OF DIRECTORS

  • Janina LaskauskienėMinistry of Transport and Communications
  • Raimondas GeleževičiusAB Lietuvos draudimas; Independent member

Information as of: 2019/11/01