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State Owned Enterprises

VĮ Vidaus vandens kelių direkcija operates since 1990. The main task of the company is to supervise and operate the inland waterways, regulate the river beds whit hydrotechnical structures, expand the Lithuanian inland waterway network and the inland waterway infrastructure ,also to construct and repair ships.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 2,231 2,153 2,228 0
Cost of goods sold 2,071 2,088 2,145 668
Gross profit 160 65 83 -668
Gross profit margin 7% 3% 4% %
Operating expenses 530 294 306 0
Operating profit -370 -229 -223 -668
Operating profit margin -17% -11% -10% %
EBITDA -78 108 93 23
EBITDA margin -4% 5% 4% %
Net profit -367 -236 -230 -576
Net profit margin -16% -11% -10% %
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 1,213 982 -982 0
Cost of goods sold 1,222 797 -129 275
Gross profit -9 185 -853 -275
Gross profit margin -1% 19% 87% %
Operating expenses 158 213 -213 0
Operating profit -167 -28 -640 -275
Operating profit margin -14% -3% 65% %
EBITDA 61 35 -13 38
EBITDA margin 5% 4% 1% %
Net profit -171 -29 -547 -240
Net profit margin -14% -3% 56% %

Balance sheet

2014 2015 2016 2017
Non-current assets 25,669 25,917 26,055 28,070
Intangible assets 0 0 0 0
Tangible assets 25,669 25,917 26,055 28,070
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 446 120 1,166 77
Inventories and prepaid expenses 140 36 1,039 14
Accounts receivable in one year 213 64 81 42
Other non-current assets 0 20 1 0
Cash and cash equivalents 92 0 45 21
Total assets 26,114 26,037 27,221 28,146
Equity 16,208 15,907 16,841 17,115
Minority share of capital 0 0 0 0
Grants and subsidies 9,218 9,879 8,222 7,824
Liabilities 689 251 2,158 3,207
Financial liabilities 0 138 138 23
Long-term liabilities 257 194 138 23
Short-term liabilities 432 57 2,020 3,185
Equity and liabilities 26,114 26,037 27,221 28,146
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 26,055 27,643 28,070 27,550
Intangible assets 0 0 0 0
Tangible assets 26,055 27,643 28,070 27,550
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 1,166 119 77 456
Inventories and prepaid expenses 1,039 32 14 46
Accounts receivable in one year 81 84 42 154
Other non-current assets 1 2 0 120
Cash and cash equivalents 45 1 21 136
Total assets 27,221 27,762 28,146 28,006
Equity 16,841 16,779 17,115 19,941
Minority share of capital 0 0 0 0
Grants and subsidies 8,222 8,023 7,824 7,760
Liabilities 2,158 2,960 3,207 304
Financial liabilities 138 63 23 0
Long-term liabilities 138 63 23 0
Short-term liabilities 2,020 2,897 3,185 304
Equity and liabilities 27,221 27,762 28,146 28,006

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) -1% -0% -0% -2%
Return on equity (ROE) -1% -1% -1% -3%
Return on capital employed (ROCE) -1% -0% -0% -2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.01 0.01 0.00
Current Ratio 1.03 2.11 0.58 0.02
Quick ratio 0.71 1.47 0.06 0.02
Turnover ratios
Asset turnover 0.09 0.08 0.08 0.00
Fixed asset turnover 0.09 0.08 0.09 0.00
Equity turnover 0.13 0.13 0.14 0.00
Profitability ratios
EBITDA margin -4% 5% 4% %
Operating profit margin -17% -11% -10% %
Net profit margin -16% -11% -10% %
Other ratios
Dividends to the State 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00 0.00
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) -0% -0% -2% -3%
Return on equity (ROE) -1% -0% -3% -5%
Return on capital employed (ROCE) -0% 0% -2% -4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.01 0.00 0.00 0.00
Current Ratio 0.58 0.04 0.02 1.50
Quick ratio 0.06 0.03 0.02 1.35
Turnover ratios
Asset turnover 0.08 0.08 0.00 -0.04
Fixed asset turnover 0.09 0.08 0.00 -0.04
Equity turnover 0.14 0.13 0.00 -0.05
Profitability ratios
EBITDA margin 5% 4% 1% %
Operating profit margin -14% -3% 65% %
Net profit margin -14% -3% 56% %
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 undefined

About the company

  • Official nameVĮ Vidaus vandens kelių direkcija
  • Legal formState enterprise (VĮ)
  • Company code132090925
  • SectorTransport and Communications
  • Line of businessSupervision of inland waterways
  • Institution representing the StateMinistry of Transport and Communications
  • Special obligationsVykdo nekomercinius specialiuosius įpareigojimus
  • Share belonging to the State100%
http://vvkd.lt/
Return to the State

18 EUR thousand

ROE

-3.3%

Number of employees

98

Financial data provided as at end-December 2017

Management

  • Vladimiras VinokurovasDirector General

Information as of: 2019/09/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Evaldas TamelisIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Manfred SeitzIndependent member
  • Indrė BernotaitėMinistry of Transport and Communications
  • Justinas JarusevičiusIndependent member
  • Reinhard VorderwinklerIndependent member

Information as of: 2019/09/01