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State Owned Enterprises

The company was established on June 1st 2014  by merging the State Enterprise at Pravieniškės 1st Correctional Home, State Enterprise at Alytus 1st Correctional Home and SE at Marijampolė 1st Correction House.

Typical activities of the company – metal processing, sewing of clothes, production of cast iron castings, various furniture, racking, clothes and documents for metal cabinets, locksmith’s work tables, cupboard tools, metal fences, containers, office furniture, various sewing production, laundry washing, bread-cake product baking, wood products, electrical engineering and various services for legal and natural persons. The purpose of the company is to recruit convicts in order to preserve and develop their working skills.

Financial results

P/L Statment

Revenue
Cost of goods sold
Gross profit (loss)
Gross profit margin
Operating expenses
Operating profit (loss)
Operating profit margin
EBITDA
EBITDA margin
Net profit (loss)
Net profit margin
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 3,201 3,207 3,701 2,787
Cost of goods sold 3,151 2,675 3,202 2,636
Gross profit 50 532 499 151
Gross profit margin 2% 17% 13% 5%
Operating expenses 702 399 515 477
Operating profit -652 134 -16 -326
Operating profit margin -20% 4% -0% -12%
EBITDA -532 260 -132 -199
EBITDA margin -17% 8% -4% -7%
Net profit -668 126 -34 -332
Net profit margin -21% 4% -1% -12%

Balance sheet

Non-current assets
Intangible assets
Tangible assets
Financial assets
Other non-current assets
Biological assets
Current assets
Inventories and prepaid expenses
Accounts receivable in one year
Other current assets
Cash and cash equivalents
Total assets
Equity
Minority share of capital
Grants and subsidies
Liabilities
Financial liabilities
Long-term liabilities
Short-term liabilities
Equity and liabilities
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 3,583 3,514 3,405 3,751
Intangible assets 16 13 10 9
Tangible assets 3,567 3,501 3,396 3,742
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 3,299 3,403 3,231 3,055
Inventories and prepaid expenses 1,974 2,282 1,879 1,758
Accounts receivable in one year 997 972 920 1,132
Other non-current assets 13 7 4 0
Cash and cash equivalents 316 142 428 165
Total assets 6,882 6,917 6,636 6,806
Equity 4,649 4,775 4,741 5,088
Minority share of capital 0 0 0 0
Grants and subsidies 250 250 250 0
Liabilities 1,983 1,892 1,645 1,718
Financial liabilities 341 1,892 1,505 1,718
Long-term liabilities 0 32 20 27
Short-term liabilities 1,983 1,861 1,625 1,691
Equity and liabilities 6,882 6,917 6,636 6,806

Financial ratios

2015
Capital return ratios
Return on assets (ROA) 0%
Return on equity (ROE) 0%
Return on capital employed (ROCE) 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00
Current Ratio 8.34
Quick ratio 6.46
Turnover ratios
Asset turnover 0.03
Fixed asset turnover 0.03
Equity turnover 0.03
Profitability ratios
EBITDA margin 17%
Operating profit margin -0%
Net profit margin 1%
Other ratios
Dividends to the State 20.50
Dividends paid / net profit 0.50
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) -12% -8% 1% -5%
Return on equity (ROE) -17% -11% 2% -7%
Return on capital employed (ROCE) -16% -10% 2% -7%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.05 0.27 0.23 0.25
Current Ratio 1.66 1.83 1.99 1.81
Quick ratio 0.67 0.60 0.83 0.77
Turnover ratios
Asset turnover 0.90 0.93 1.02 0.95
Fixed asset turnover 1.77 1.85 1.98 1.79
Equity turnover 1.24 1.27 1.47 1.32
Profitability ratios
EBITDA margin -17% 8% -4% -7%
Operating profit margin -20% 4% -0% -12%
Net profit margin -21% 4% -1% -12%
Other ratios
Dividends to the State 0.00 0.00
Dividends paid / net profit 0.00 0.00

Expectations of the state

Target return on equity

5,3%

About the company

  • Official nameMūsų amatai, VĮ
  • Legal formState enterprise (VĮ)
  • Company code303316138
  • SectorOther
  • Line of businessProduction of clothing, electrical equipment, plastics, furniture, metalworks
  • Institution representing the StatePrison Department
  • Share belonging to the State100%
http://www.musuamatai.com/

Financial data provided as at end-December 2018

Management

  • L. e. p. Gintaras ŽandaravičiusDirector General

Information as of: 2019/11/01