• en
  • lt
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

2015 2016 2017 2018
Revenue 158,676 158,457 164,039 180,353
Cost of goods sold 66,016 64,409 65,814 60,793
Gross profit (loss) 92,660 94,048 98,225 119,560
Gross profit margin 58% 59% 60% 66%
Operating expenses 86,290 86,077 92,285 90,586
Operating profit (loss) 6,370 7,972 5,940 28,974
Operating profit margin 4% 5% 4% 16%
EBITDA 20,739 22,414 18,502 40,142
EBITDA margin 13% 14% 11% 22%
Net profit (loss) 6,286 7,402 5,194 25,262
Net profit margin 4% 5% 3% 14%
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

2015 2016 2017 2018
Non-current assets 1,060,123 1,223,506 1,314,293 1,278,454
Intangible assets 1,895 2,499 2,465 2,579
Tangible assets 101,177 104,490 101,193 92,360
Financial assets 3,107 8,773 9,346 5,052
Other non-current assets 1,007 237 223 42
Biological assets 952,936 1,107,507 1,201,066 1,178,421
Current assets 71,178 66,580 72,935 109,704
Inventories and prepaid expenses 28,230 28,020 28,231 26,985
Accounts receivable in one year 8,023 8,850 5,612 5,384
Other current assets 11,240 5,995 4,071
Cash and cash equivalents 23,686 23,716 39,091 73,263
Total assets 1,133,753 1,293,558 1,390,838 1,391,054
Equity 1,107,631 158,864 160,949 178,505
Minority share of capital
Grants and subsidies 12,767 14,203 15,264 15,559
Liabilities 13,354 12,984 13,451 18,563
Financial liabilities 109 599
Long-term liabilities 147 76 608
Short-term liabilities 13,207 12,908 10,659 16,121
Equity and liabilities 1,133,753 1,293,558 1,390,838 1,391,054
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

2016 2017 2018
Capital return ratios
Return on assets (ROA) 2% 2% 4%
Return on equity (ROE) 4% 16% 29%
Return on capital employed (ROCE) 1% 1% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00
Current Ratio 5.16 6.84 6.81
Quick ratio 2.99 4.19 5.13
Turnover ratios
Asset turnover 0.13 0.12 0.13
Fixed asset turnover 0.14 0.13 0.14
Equity turnover 0.25 1.03 1.06
Profitability ratios
EBITDA margin 14% 11% 22%
Operating profit margin 5% 4% 16%
Net profit margin 5% 3% 14%
Other ratios
Dividends to the State 4,508.20 22,141.60
Dividends paid / net profit 0.87 0.88
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

50.0 EUR milion

ROE

28.9%

Number of employees

2,824

Financial data provided as at end-December 2018

Forestry enterprises wre merged on 8 January 2018.

Management

  • L. e. p. Valdas KaubrėDirector General

Information as of: 2019/11/01

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
  • Vilma SlavinskienėMinistry of Environment

Information as of: 2019/11/01