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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

2015 2016 2017 2018
Revenue 2,153 206 231
Cost of goods sold 2,088 316 668 757
Gross profit (loss) 65 -316 -462 -526
Gross profit margin 3% % -224% -228%
Operating expenses 294 124 28
Operating profit (loss) -230 -316 -586 -554
Operating profit margin -11% % -284% -240%
EBITDA 107 93 22 89
EBITDA margin 5% % 11% 39%
Net profit (loss) -237 -230 -576 -537
Net profit margin -11% % -280% -232%
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

2015 2016 2017 2018
Non-current assets 25,917 26,055 28,070 26,937
Intangible assets
Tangible assets 25,917 26,055 28,070 26,937
Financial assets
Other non-current assets
Biological assets
Current assets 121 1,165 76 188
Inventories and prepaid expenses 36 1,039 14 19
Accounts receivable in one year 65 81 42 77
Other current assets
Cash and cash equivalents 20 45 21 92
Total assets 26,038 27,221 28,146 27,129
Equity 15,908 16,841 17,115 19,610
Minority share of capital
Grants and subsidies 8,651 8,222 7,824 7,427
Liabilities 1,479 2,158 3,207 92
Financial liabilities 138 138 22
Long-term liabilities 193 138 22
Short-term liabilities 1,286 2,020 3,185 92
Equity and liabilities 26,038 27,221 28,146 27,129
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

2015 2016 2017 2018
Capital return ratios
Return on assets (ROA) 0% -1% -2% -2%
Return on equity (ROE) 0% -1% -3% -3%
Return on capital employed (ROCE) 0% -2% -5% -4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.01 0.00
Current Ratio 5.03 0.58 0.02 2.05
Quick ratio 4.42 0.06 0.02 1.84
Turnover ratios
Asset turnover 0.05 0.01 0.01
Fixed asset turnover 0.05 0.01 0.01
Equity turnover 0.05 0.01 0.01
Profitability ratios
EBITDA margin 18% % 11% 39%
Operating profit margin 5% % -284% -240%
Net profit margin 5% % -280% -232%
Other ratios
Dividends to the State 292.00
Dividends paid / net profit 0.50
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

14 EUR thousand

ROE

-2.9%

Number of employees

71

Financial data provided as at end-December 2018

Management

  • Vladimiras VinokurovasDirector General

Information as of: 2019/11/01

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: 2019/11/01