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State Owned Enterprises

LITEXPO was registered as a public limited company in 1990 and re-registered in a private limited company in 1995. Since 2006, LITEXPO is also a member of the global exhibition business association UFI. The company carries out the following economic activities: organization of meetings and business events, rent of conference halls, coordination of Lithuanian presentations at world exhibitions, design and preparation of stands, provision of food for events and other related services.

Financial results

P/L Statment

2015 2016 2017 2018
Revenue 5,597 6,122 6,068 7,349
Cost of goods sold 3,785 3,984 4,092 5,007
Gross profit (loss) 1,813 2,138 1,976 2,341
Gross profit margin 32% 35% 33% 32%
Operating expenses 1,032 1,190 1,187 1,269
Operating profit (loss) 780 947 788 1,073
Operating profit margin 14% 15% 13% 15%
EBITDA 1,399 1,569 1,495 1,952
EBITDA margin 25% 26% 25% 27%
Net profit (loss) 665 812 707 934
Net profit margin 12% 13% 12% 13%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 2,152 4,081 1,986 5,025
Cost of goods sold 2,026 2,144 1,948 2,843
Gross profit 126 1,938 38 2,183
Gross profit margin 6% 47% 2% 43%
Operating expenses 691 560 627 552
Operating profit -564 1,377 -589 1,631
Operating profit margin -26% 34% -30% 32%
EBITDA -248 1,705 -235 2,081
EBITDA margin -12% 42% -12% 41%
Net profit -477 1,169 -520 1,371
Net profit margin -22% 29% -26% 27%

Balance sheet

2015 2016 2017 2018
Non-current assets 10,735 15,165 19,548 19,486
Intangible assets 20 76 58 43
Tangible assets 10,714 15,081 19,478 19,427
Financial assets 1 8 9 16
Other non-current assets 3
Biological assets
Current assets 2,904 1,402 834 1,059
Inventories and prepaid expenses 23 81 41 44
Accounts receivable in one year 115 295 365 448
Other current assets
Cash and cash equivalents 2,766 1,026 428 567
Total assets 13,675 16,592 20,443 20,603
Equity 10,665 11,061 11,630 12,066
Minority share of capital
Grants and subsidies 2,302 2,144 1,988 1,874
Liabilities 694 3,358 6,806 6,584
Financial liabilities 1,627 5,908 5,726
Long-term liabilities 1,627 4,954 4,771
Short-term liabilities 694 1,731 1,852 1,812
Equity and liabilities 13,675 16,592 20,443 20,603
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 15,165 18,738 19,548 19,867
Intangible assets 76 70 58 45
Tangible assets 15,081 18,658 19,478 19,810
Financial assets 8 9 9 9
Other non-current assets 0 0 3 3
Biological assets 0 0 0 0
Current assets 1,427 1,565 838 1,509
Inventories and prepaid expenses 106 164 101 144
Accounts receivable in one year 295 88 308 179
Other non-current assets 0 0 0 0
Cash and cash equivalents 1,026 1,314 428 1,186
Total assets 16,592 20,302 20,386 21,377
Equity 11,061 12,093 11,573 12,446
Minority share of capital 0 0 0 0
Grants and subsidies 2,144 2,066 1,988 1,924
Liabilities 3,388 6,144 6,825 7,008
Financial liabilities 1,627 5,500 5,908 6,203
Long-term liabilities 1,627 5,500 4,954 5,726
Short-term liabilities 1,761 644 1,871 1,282
Equity and liabilities 16,592 20,302 20,386 21,377

Financial ratios

2015 2016 2017 2018
Capital return ratios
Return on assets (ROA) 0% 5% 4% 5%
Return on equity (ROE) 1% 7% 6% 8%
Return on capital employed (ROCE) 0% 13% 9% 12%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.15 0.51 0.47
Current Ratio 1.55 0.81 0.45 0.58
Quick ratio 1.39 0.76 0.43 0.56
Turnover ratios
Asset turnover 0.48 0.40 0.33 0.36
Fixed asset turnover 0.64 0.47 0.35 0.38
Equity turnover 0.60 0.56 0.53 0.62
Profitability ratios
EBITDA margin 29% 26% 25% 27%
Operating profit margin -1% 15% 13% 15%
Net profit margin 1% 13% 12% 13%
Other ratios
Dividends to the State 0.00 411.02 492.42 719.27
Dividends paid / net profit 0.00 0.51 0.70 0.77
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 5% 4% 4% 4%
Return on equity (ROE) 7% 6% 6% 7%
Return on capital employed (ROCE) 7% 5% 5% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.10 0.27 0.29 0.29
Current Ratio 0.81 2.43 0.45 1.18
Quick ratio 0.75 2.18 0.39 1.06
Turnover ratios
Asset turnover 0.40 0.35 0.33 0.34
Fixed asset turnover 0.47 0.41 0.35 0.36
Equity turnover 0.56 0.52 0.54 0.57
Profitability ratios
EBITDA margin -12% 42% -12% 41%
Operating profit margin -26% 34% -30% 32%
Net profit margin -22% 29% -26% 27%
Other ratios
Dividends to the State 134.02 134.06
Dividends paid / net profit 0.17 0.21

Expectations of the state

Target return on equity

8,3%

About the company

  • Official nameUAB Lietuvos parodų ir kongresų centras „LITEXPO“
  • Legal formPrivate limited liability company (UAB)
  • Company code120080713
  • SectorOther
  • Line of businessOrganizing exhibitions, conferences and other events
  • Institution representing the StateMinistry of the Economy and Innovation
  • Share belonging to the State98.76%
http://litexpo.lt/
Return to the State

719 EUR thousand

ROE

7.9%

Number of employees

84

Financial data provided as at end-December 2018

Management

  • Justinas BortkevičiusDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Giedrė Kaminskaitė-Salters Telia Lietuva, AB; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Juras VėželisUAB SPORTLAND LT; Independent member
  • Vytautas DobilasUAB Deeper; Independent member
  • Lidija BajarūnienėMinistry of the Economy and Innovation
  • Rūta JovaišienėMinistry of the Economy and Innovation

Information as of: 2019/11/01