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Valdymo koordinavimo centras

State Owned Enterprises

VĮ Valstybinių miškų urėdija was established in 2018 by a merger with the reorganization of 42 regional forest-based organisations and the state institute of forest management. Valstybinių miškų urėdija is responsible for the supervision, administration and inventory of Lithuanian state forests, and is engaged in logging activities as well as trading timber and planting materials. The company is also responsible for the preparation of forest management projects, the planning of protected and special purpose forests, the production of cartographic material, the creation of databases, cadastral measurements and conducts land reform development of land-use projects.

 

Note: below is the financial results (P/N report, balance sheet and financial indicators) of the VĮ “Valstybinis miškotvarkos institutas”, to which the 42 forest-based enterprises are connected on 8th of January 2018. The financial information presented in the ‘ About company ‘ section on the right, together with the information on the ‘ All Companies ‘ page, is aggregated in 42 information for the VĮ “Valstybinis miškotvarkos institutas”

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 1,982 2,482 2,219 2,404
Cost of goods sold 1,507 1,967 1,715 1,897
Gross profit 475 515 503 507
Gross profit margin 24% 21% 23% 21%
Operating expenses 347 346 354 378
Operating profit 127 169 149 129
Operating profit margin 6% 7% 7% 5%
EBITDA 178 238 203 184
EBITDA margin 9% 10% 9% 8%
Net profit 107 148 124 110
Net profit margin 5% 6% 6% 5%
2018 Q2
Revenue 90,150
Cost of goods sold 32,263
Gross profit 57,887
Gross profit margin 64%
Operating expenses 45,399
Operating profit 12,488
Operating profit margin 14%
EBITDA 19,009
EBITDA margin 21%
Net profit 10,410
Net profit margin 12%

Balance sheet

2014 2015 2016 2017
Non-current assets 291 262 241 234
Intangible assets 7 12 7 3
Tangible assets 284 250 234 231
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 1,292 1,494 1,534 1,641
Inventories and prepaid expenses 212 55 356 364
Accounts receivable in one year 170 93 32 65
Other non-current assets 0 0 0 1,212
Cash and cash equivalents 911 1,346 1,146 0
Total assets 1,583 1,756 1,775 1,875
Equity 1,299 1,393 1,444 1,491
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 6 2
Liabilities 284 363 325 382
Financial liabilities 0 0 0 0
Long-term liabilities 0 0 0 0
Short-term liabilities 284 363 325 382
Equity and liabilities 1,583 1,756 1,775 1,875
2018 Q2
Non-current assets 108,498
Intangible assets 2,464
Tangible assets 96,502
Financial assets 9,332
Other non-current assets 201
Biological assets 0
Current assets 97,721
Inventories and prepaid expenses 28,316
Accounts receivable in one year 8,867
Other non-current assets 0
Cash and cash equivalents 60,539
Total assets 206,220
Equity 171,245
Minority share of capital 0
Grants and subsidies 17,963
Liabilities 17,012
Financial liabilities 29
Long-term liabilities 11
Short-term liabilities 17,001
Equity and liabilities 206,220

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) 7% 9% 8% 7%
Return on equity (ROE) 9% 12% 9% 8%
Return on capital employed (ROCE) 11% 14% 11% 10%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 4.55 4.11 4.72 4.30
Quick ratio 3.81 3.96 3.62 3.34
Turnover ratios
Asset turnover 1.25 1.49 1.26 1.32
Fixed asset turnover 6.41 8.97 8.82 10.13
Equity turnover 1.57 1.84 1.56 1.64
Profitability ratios
EBITDA margin 9% 10% 9% 8%
Operating profit margin 6% 7% 7% 5%
Net profit margin 5% 6% 6% 5%
Other ratios
Dividends to the State 53.46 73.80 62.10 62.20
Dividends paid / net profit 0.50 0.50 0.50 0.57
2018 Q2
Capital return ratios
Return on assets (ROA) 11%
Return on equity (ROE) 13%
Return on capital employed (ROCE) 14%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00
Current Ratio 5.75
Quick ratio 4.08
Turnover ratios
Asset turnover 0.44
Fixed asset turnover 0.83
Equity turnover 0.53
Profitability ratios
EBITDA margin 21%
Operating profit margin 14%
Net profit margin 12%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target average annual normalised net profit

40.5 EUR milion

About the company

  • Official nameVĮ „Valstybinių miškų urėdija“
  • Legal formState enterprise (VĮ)
  • Company code132340880
  • SectorForestry
  • Line of businessAdministration of State forests
  • Institution representing the StateMinistry of Environment
  • Share belonging to the State100%
http://www.vivmu.lt
Return to the State

29.3 EUR milion

ROE

16.5%

Number of employees

3,366

Financial data provided as at end-December 2017

Forestry enterprises wre merged on 8 January 2018.

Management

  • L. e. p. Valdas KaubrėDirector General

Information as of: 2019/09/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Ina BikuvienėVĮ Valstybinių miškų urėdija

MEMBERS OF THE BOARD OF DIRECTORS

  • Gediminas JasinevičiusEuropean Forest Institute; Independent member
  • Mantas ŠukevičiusIndependent member
  • Normantas Marius DvareckasUAB Adventum, Independent member
  • Alditas SauliusIndependent member
  • Asta ČepienėVĮ Valstybinių miškų urėdija

Information as of: 2019/09/01