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Valdymo koordinavimo centras

State Owned Enterprises

AB Lietuvos veislininkystė was established in 2012 January 2, after reorganization of AB Marijampolės regiono veislininkystė and AB Šiaulių regiono veislininkystė. Company keeps the most popular bull breeds of Lithuanian and Western countries and their accumulated sperm.

Financial results

P/L Statment

2015 2016 2017 2018
Revenue 1,087 1,151 1,244 1,489
Cost of goods sold 561 582 621 706
Gross profit (loss) 526 569 623 783
Gross profit margin 48% 49% 50% 53%
Operating expenses 546 618 594 738
Operating profit (loss) -20 -49 29 45
Operating profit margin -2% -4% 2% 3%
EBITDA 100 121 139 166
EBITDA margin 9% 11% 11% 11%
Net profit (loss) 59 76 91 110
Net profit margin 5% 7% 7% 7%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 719 595 712 726
Cost of goods sold 342 277 345 344
Gross profit 377 319 367 382
Gross profit margin 52% 54% 52% 53%
Operating expenses 369 227 367 248
Operating profit 8 92 0 134
Operating profit margin 1% 15% 0% 18%
EBITDA 42 113 26 156
EBITDA margin 6% 19% 4% 21%
Net profit 24 81 10 115
Net profit margin 3% 14% 1% 16%

Balance sheet

2015 2016 2017 2018
Non-current assets 317 282 260 225
Intangible assets
Tangible assets 241 217 197 172
Financial assets 0 0 0 0
Other non-current assets
Biological assets 76 65 63 53
Current assets 1,290 1,343 1,484 1,508
Inventories and prepaid expenses 591 674 878 949
Accounts receivable in one year 262 242 221 197
Other current assets
Cash and cash equivalents 437 428 385 362
Total assets 1,609 1,628 1,748 1,738
Equity 1,436 1,455 1,485 1,516
Minority share of capital
Grants and subsidies
Liabilities 173 173 263 222
Financial liabilities
Long-term liabilities
Short-term liabilities 173 173 263 222
Equity and liabilities 1,609 1,628 1,748 1,738
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 295 210 260 244
Intangible assets 0 0 0 0
Tangible assets 217 209 197 189
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 77 0 63 55
Current assets 1,333 1,516 1,488 1,548
Inventories and prepaid expenses 663 865 882 981
Accounts receivable in one year 242 310 221 280
Other non-current assets 0 0 0 8
Cash and cash equivalents 428 341 385 280
Total assets 1,628 1,725 1,748 1,793
Equity 1,455 1,489 1,485 1,541
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 173 236 263 251
Financial liabilities 0 0 0 0
Long-term liabilities 0 0 0 0
Short-term liabilities 173 236 263 251
Equity and liabilities 1,628 1,725 1,748 1,793

Financial ratios

2016 2017 2018
Capital return ratios
Return on assets (ROA) 5% 5% 6%
Return on equity (ROE) 5% 6% 7%
Return on capital employed (ROCE) 11% 13% 17%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 7.77 5.63 6.78
Quick ratio 3.88 2.30 2.51
Turnover ratios
Asset turnover 0.71 0.74 0.85
Fixed asset turnover 3.84 4.59 6.14
Equity turnover 0.80 0.85 0.99
Profitability ratios
EBITDA margin 11% 11% 11%
Operating profit margin -4% 2% 3%
Net profit margin 7% 7% 7%
Other ratios
Dividends to the State 60.36 78.37 81.04
Dividends paid / net profit 0.79 0.86 0.73
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 5% 6% 5% 7%
Return on equity (ROE) 5% 7% 6% 8%
Return on capital employed (ROCE) 6% 8% 7% 9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 7.72 6.41 5.65 6.16
Quick ratio 3.88 2.75 2.30 2.26
Turnover ratios
Asset turnover 0.77 0.78 0.77 0.82
Fixed asset turnover 3.85 4.69 4.71 6.33
Equity turnover 0.87 0.90 0.89 0.95
Profitability ratios
EBITDA margin 6% 19% 4% 21%
Operating profit margin 1% 15% 0% 18%
Net profit margin 3% 14% 1% 16%
Other ratios
Dividends to the State 59.76 77.58
Dividends paid / net profit 0.79 0.86

Expectations of the state

Target return on equity

5,3%

About the company

  • Official nameAB „Lietuvos veislininkystė“
  • Legal formPublic limited liability company (AB)
  • Company code302705528
  • SectorOther
  • Line of businessAnimal husbandry
  • Institution representing the StateMinistry of Agriculture
  • Share belonging to the State99%
http://www.veislita.lt/
Return to the State

81 EUR thousand

ROE

7.4%

Number of employees

37

Financial data provided as at end-December 2018

Management

  • Gediminas ValiulisDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Evaldas PranckevičiusMinistry of Agriculture

MEMBERS OF THE BOARD OF DIRECTORS

  • Vita JurgilienėMinistry of Agriculture
  • Modestas VažnevičiusMinistry of Agriculture
  • Romanas KančauskasAB Lietuvos geležinkeliai; Independent member
  • Vilius ŽiogasFarmer, Independent member
  • Vladislovas VaišvilaAgricultural company Šiaurės bulius; Independent member

Information as of: 2019/11/01