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Valdymo koordinavimo centras

State Owned Enterprises

State-owned company “Pieno tyrimai” has been registered in 1993. The main purpose and nature of the company is to ensure an unbiased, accurate and rapid examination of raw milk samples. Milk purchasers, processors, dairy producers, the Ministry of Agriculture of the Republic of Lithuania, the State Enterprise “Livestock Productivity Control”, the National Paying Agency, the State Food and Veterinary Service, the Public Institution “Ekoagros” and other institutions as well as science and training institutions use the milk sample research services of the company.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 3,979 3,990 3,934 4,160
Cost of goods sold 2,962 3,068 3,035 3,151
Gross profit 1,017 923 900 1,009
Gross profit margin 26% 23% 23% 24%
Operating expenses 811 818 829 867
Operating profit 206 105 71 142
Operating profit margin 5% 3% 2% 3%
EBITDA 731 629 640 651
EBITDA margin 18% 16% 16% 16%
Net profit 166 89 48 116
Net profit margin 4% 2% 1% 3%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 1,946 2,037 2,124 2,027
Cost of goods sold 1,502 1,524 1,627 1,609
Gross profit 444 513 497 418
Gross profit margin 23% 25% 23% 21%
Operating expenses 431 406 462 390
Operating profit 13 107 35 28
Operating profit margin 1% 5% 2% 1%
EBITDA 299 346 305 312
EBITDA margin 15% 17% 14% 15%
Net profit 3 87 29 23
Net profit margin 0% 4% 1% 1%

Balance sheet

2014 2015 2016 2017
Non-current assets 4,466 4,456 4,539 4,901
Intangible assets 3 5 3 13
Tangible assets 4,441 4,428 4,511 4,861
Financial assets 0 0 0 0
Other non-current assets 22 23 24 27
Biological assets 0 0 0 0
Current assets 1,095 934 821 920
Inventories and prepaid expenses 218 256 191 222
Accounts receivable in one year 323 289 318 346
Other non-current assets 0 0 0 0
Cash and cash equivalents 555 389 311 353
Total assets 5,561 5,390 5,359 5,821
Equity 4,565 4,570 4,573 4,665
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 996 820 786 1,156
Financial liabilities 731 554 568 753
Long-term liabilities 289 399 408 501
Short-term liabilities 707 421 378 655
Equity and liabilities 5,561 5,390 5,359 5,821
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 4,539 4,605 4,901 4,754
Intangible assets 3 4 13 47
Tangible assets 4,511 4,578 4,861 4,679
Financial assets 0 0 0 0
Other non-current assets 24 24 27 28
Biological assets 0 0 0 0
Current assets 821 1,144 920 1,002
Inventories and prepaid expenses 191 253 222 238
Accounts receivable in one year 318 533 346 463
Other non-current assets 0 0 0 0
Cash and cash equivalents 311 359 353 301
Total assets 5,359 5,749 5,821 5,756
Equity 4,573 4,636 4,665 4,550
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 786 1,113 1,156 1,205
Financial liabilities 568 690 753 608
Long-term liabilities 408 555 501 523
Short-term liabilities 378 558 655 682
Equity and liabilities 5,359 5,749 5,821 5,756

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) 4% 3% 2% 3%
Return on equity (ROE) 5% 3% 2% 4%
Return on capital employed (ROCE) 6% 4% 3% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.13 0.10 0.11 0.13
Current Ratio 1.55 2.22 2.17 1.40
Quick ratio 1.24 1.61 1.66 1.07
Turnover ratios
Asset turnover 0.71 0.73 0.73 0.74
Fixed asset turnover 0.87 0.89 0.87 0.88
Equity turnover 0.88 0.87 0.86 0.90
Profitability ratios
EBITDA margin 18% 16% 16% 16%
Operating profit margin 5% 3% 2% 3%
Net profit margin 4% 2% 1% 3%
Other ratios
Dividends to the State 83.24 44.30 23.80 138.20
Dividends paid / net profit 0.50 0.50 0.50 1.19
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 2% 3% 3% 2%
Return on equity (ROE) 2% 3% 4% 3%
Return on capital employed (ROCE) 3% 4% 4% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.11 0.12 0.13 0.11
Current Ratio 2.17 2.05 1.40 1.47
Quick ratio 1.66 1.60 1.07 1.12
Turnover ratios
Asset turnover 0.73 0.70 0.74 0.72
Fixed asset turnover 0.87 0.87 0.88 0.89
Equity turnover 0.86 0.87 0.90 0.90
Profitability ratios
EBITDA margin 15% 17% 14% 15%
Operating profit margin 1% 5% 2% 1%
Net profit margin 0% 4% 1% 1%
Other ratios
Dividends to the State 23.80 138.20
Dividends paid / net profit 0.50 1.19

Expectations of the state

Target return on equity

4,7%

About the company

  • Official nameUAB „Pieno tyrimai“
  • Legal formPrivate limited liability company (UAB)
  • Company code233816290
  • SectorOther
  • Line of businessŽalio pieno sudėties ir kokybės tyrimai
  • Institution representing the StateMinistry of Agriculture
  • Share belonging to the State100%
http://tau.pieno-tyrimai.lt/
Return to the State

206 EUR thousand

ROE

3.7%

Number of employees

134

Financial data provided as at end-December 2017

Management

  • Laima UrbšienėĮmonės direktorius (generalinis direktorius)

Information as of: 2019/03/01