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Valdymo koordinavimo centras

State Owned Enterprises

VĮ Problematika was founded in 1991 and re-registered in April 2011 as a public limited company. The company’s activities are laboratory testing and analysis of road construction materials, technical quality control and maintenance of roads and their structures, certification of road construction materials and control of requirements of these materials and others.

Financial results

P/L Statment

2015 2016 2017 2018
Revenue 3,809 5,359 6,938 5,138
Cost of goods sold 2,444 3,346 4,227 3,394
Gross profit (loss) 1,365 2,013 2,710 1,744
Gross profit margin 36% 38% 39% 34%
Operating expenses 846 876 903 1,039
Operating profit (loss) 519 1,138 1,807 705
Operating profit margin 14% 21% 26% 14%
EBITDA 807 1,473 2,143 1,071
EBITDA margin 21% 27% 31% 21%
Net profit (loss) 458 984 1,572 618
Net profit margin 12% 18% 23% 12%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 3,465 2,288 4,650 1,943
Cost of goods sold 2,074 1,520 2,707 1,427
Gross profit 1,391 768 1,943 516
Gross profit margin 40% 34% 42% 27%
Operating expenses 408 587 317 411
Operating profit 983 181 1,626 105
Operating profit margin 28% 8% 35% 5%
EBITDA 1,146 349 1,792 264
EBITDA margin 33% 15% 39% 14%
Net profit 853 155 1,414 103
Net profit margin 25% 7% 30% 5%

Balance sheet

2015 2016 2017 2018
Non-current assets 4,010 3,198 5,880 6,583
Intangible assets 1 9 24 19
Tangible assets 2,981 3,040 5,703 6,414
Financial assets 885
Other non-current assets 143 149 154 150
Biological assets
Current assets 3,363 4,895 3,619 799
Inventories and prepaid expenses 112 244 159 85
Accounts receivable in one year 709 678 772 713
Other current assets 1,057 203
Cash and cash equivalents 1,486 3,769 2,687 1
Total assets 7,466 8,166 9,567 7,413
Equity 7,205 7,685 8,395 6,269
Minority share of capital
Grants and subsidies
Liabilities 259 479 1,171 1,144
Financial liabilities 307
Long-term liabilities 78
Short-term liabilities 259 479 1,171 1,065
Equity and liabilities 7,466 8,166 9,567 7,413
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 3,198 3,984 5,880 6,560
Intangible assets 9 15 24 25
Tangible assets 3,040 3,821 5,703 6,382
Financial assets 0 0 0 0
Other non-current assets 149 149 154 154
Biological assets 0 0 0 0
Current assets 4,968 4,060 3,687 2,028
Inventories and prepaid expenses 318 412 227 158
Accounts receivable in one year 678 1,436 772 1,151
Other non-current assets 203 0 0 0
Cash and cash equivalents 3,769 2,211 2,687 719
Total assets 8,166 8,044 9,567 8,588
Equity 7,685 7,008 8,395 7,275
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 481 1,036 1,172 1,313
Financial liabilities 0 0 0 0
Long-term liabilities 0 0 0 0
Short-term liabilities 481 1,036 1,172 1,313
Equity and liabilities 8,166 8,044 9,567 8,588

Financial ratios

2016 2017 2018
Capital return ratios
Return on assets (ROA) 13% 18% 7%
Return on equity (ROE) 13% 20% 8%
Return on capital employed (ROCE) 30% 43% 22%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.05
Current Ratio 10.22 3.09 0.75
Quick ratio 9.70 2.95 0.67
Turnover ratios
Asset turnover 0.69 0.78 0.61
Fixed asset turnover 1.49 1.53 0.82
Equity turnover 0.72 0.86 0.70
Profitability ratios
EBITDA margin 27% 31% 21%
Operating profit margin 21% 26% 14%
Net profit margin 18% 23% 12%
Other ratios
Dividends to the State 859.11 1,244.20 1,336.50
Dividends paid / net profit 0.87 0.79 2.16
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 13% 13% 18% 18%
Return on equity (ROE) 13% 15% 20% 21%
Return on capital employed (ROCE) 15% 17% 22% 24%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 10.32 3.92 3.15 1.54
Quick ratio 9.66 3.52 2.95 1.42
Turnover ratios
Asset turnover 0.68 0.74 0.78 0.79
Fixed asset turnover 1.49 1.62 1.53 1.25
Equity turnover 0.72 0.83 0.86 0.92
Profitability ratios
EBITDA margin 33% 15% 39% 14%
Operating profit margin 28% 8% 35% 5%
Net profit margin 25% 7% 30% 5%
Other ratios
Dividends to the State 859.11 1,244.23
Dividends paid / net profit 0.87 0.79

Expectations of the state

Target return on equity

8,7%

About the company

  • Official nameAB „Problematika“
  • Legal formPublic limited liability company (AB)
  • Company code120721845
  • SectorOther
  • Line of businessConstruction analytics
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.problematika.lt/
Return to the State

1.3 EUR milion

ROE

8.4%

Number of employees

99

Financial data provided as at end-December 2018

Management

  • Artūras PalekasDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Arvydas DarulisIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Rolandas OginskasIndependent member

Information as of: 2019/11/01