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Valdymo koordinavimo centras

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

2014 2015 2016 2017
Revenue 5,100 5,597 6,122 6,068
Cost of goods sold 3,516 3,785 3,984 4,092
Gross profit 1,584 1,813 2,138 1,976
Gross profit margin 31% 32% 35% 33%
Operating expenses 959 1,032 1,190 1,187
Operating profit 625 780 947 789
Operating profit margin 12% 14% 15% 13%
EBITDA 1,215 1,392 1,569 1,470
EBITDA margin 24% 25% 26% 24%
Net profit 544 665 812 650
Net profit margin 11% 12% 13% 11%
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

2014 2015 2016 2017
Non-current assets 11,221 10,735 15,165 19,548
Intangible assets 23 20 76 58
Tangible assets 11,198 10,714 15,081 19,478
Financial assets 0 1 8 9
Other non-current assets 0 0 0 3
Biological assets 0 0 0 0
Current assets 2,573 2,940 1,427 838
Inventories and prepaid expenses 41 48 106 101
Accounts receivable in one year 166 126 295 308
Other non-current assets 1,870 0 0 0
Cash and cash equivalents 495 2,766 1,026 428
Total assets 13,794 13,675 16,592 20,386
Equity 10,739 10,665 11,061 11,573
Minority share of capital 0 0 0 0
Grants and subsidies 2,466 2,302 2,144 1,988
Liabilities 588 708 3,388 6,825
Financial liabilities 19 19 1,627 5,908
Long-term liabilities 0 0 1,627 4,954
Short-term liabilities 588 708 1,761 1,871
Equity and liabilities 13,794 13,675 16,592 20,386
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

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) 4% 5% 5% 4%
Return on equity (ROE) 5% 6% 7% 6%
Return on capital employed (ROCE) 5% 6% 7% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.10 0.29
Current Ratio 4.37 4.15 0.81 0.45
Quick ratio 4.30 4.08 0.75 0.39
Turnover ratios
Asset turnover 0.37 0.41 0.40 0.33
Fixed asset turnover 0.45 0.51 0.47 0.35
Equity turnover 0.48 0.52 0.56 0.54
Profitability ratios
EBITDA margin 24% 25% 26% 24%
Operating profit margin 12% 14% 15% 13%
Net profit margin 11% 12% 13% 11%
Other ratios
Dividends to the State 742.40 411.03 134.02 134.06
Dividends paid / net profit 1.38 0.63 0.17 0.21
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

136 EUR thousand

ROE

5.7%

Number of employees

113

Financial data provided as at end-December 2017

Management

  • Justinas BortkevičiusDirector General

Information as of: 2019/07/01

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: 2019/07/01