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Valdymo koordinavimo centras

State Owned Enterprises

UAB „Viešųjų investicijų plėtros agentūra“ (VIPA) was established in november 2012 and started its activities in april 2013. The company provides financial services, implements and manages financial instruments for the modernisation and development of public sector investment, public infrastructure and public services.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 474 1,682 1,772 1,671
Cost of goods sold 119 569 625 624
Gross profit 355 1,113 1,148 1,047
Gross profit margin 75% 66% 65% 63%
Operating expenses 112 342 647 837
Operating profit 243 771 501 210
Operating profit margin 51% 46% 28% 13%
EBITDA 248 803 574 370
EBITDA margin 52% 48% 32% 22%
Net profit 171 654 424 236
Net profit margin 36% 39% 24% 14%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 886 802 869 792
Cost of goods sold 225 350 274 293
Gross profit 661 453 594 499
Gross profit margin 75% 56% 68% 63%
Operating expenses 454 300 538 416
Operating profit 207 153 56 82
Operating profit margin 23% 19% 7% 10%
EBITDA 248 223 147 174
EBITDA margin 28% 28% 17% 22%
Net profit 174 151 85 119
Net profit margin 20% 19% 10% 15%

Balance sheet

2014 2015 2016 2017
Non-current assets 8,947 29,184 28,456 318
Intangible assets 36 60 106 271
Tangible assets 56 76 74 48
Financial assets 8,854 29,047 28,275 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 21,231 11,917 10,183 2,885
Inventories and prepaid expenses 2 10 80 20
Accounts receivable in one year 356 7,821 3,409 584
Other non-current assets 0 0 0 1,000
Cash and cash equivalents 20,873 4,086 6,694 1,282
Total assets 30,178 41,100 38,639 3,204
Equity 235 873 3,098 3,040
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 29,942 40,227 35,541 164
Financial liabilities 29,754 37,979 35,382 148
Long-term liabilities 29,754 37,345 33,864 0
Short-term liabilities 189 2,883 1,676 164
Equity and liabilities 30,178 41,100 38,639 3,204
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 28,456 147 318 302
Intangible assets 106 88 271 249
Tangible assets 74 59 48 53
Financial assets 28,275 0 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 10,183 3,095 2,885 2,419
Inventories and prepaid expenses 80 68 20 17
Accounts receivable in one year 3,409 2,718 584 620
Other non-current assets 0 2 1,000 1,000
Cash and cash equivalents 6,694 307 1,282 781
Total assets 38,639 3,242 3,204 2,721
Equity 3,098 2,941 3,040 2,570
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 35,541 301 164 150
Financial liabilities 35,382 15 148 12
Long-term liabilities 33,864 0 0 0
Short-term liabilities 1,676 301 164 150
Equity and liabilities 38,639 3,242 3,204 2,721

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) 1% 2% 1% 1%
Return on equity (ROE) 116% 118% 23% 8%
Return on capital employed (ROCE) 1% 2% 1% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.99 0.92 0.92 0.05
Current Ratio 112.43 4.13 6.07 17.58
Quick ratio 112.42 4.13 6.03 17.46
Turnover ratios
Asset turnover 0.02 0.05 0.04 0.08
Fixed asset turnover 0.11 0.09 0.06 0.12
Equity turnover 3.22 3.03 0.96 0.54
Profitability ratios
EBITDA margin 52% 48% 32% 22%
Operating profit margin 51% 46% 28% 13%
Net profit margin 36% 39% 24% 14%
Other ratios
Dividends to the State 16.48 16.50 254.56 572.08
Dividends paid / net profit 0.10 0.03 0.60 2.43
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 1% 2% 1% 7%
Return on equity (ROE) 23% 11% 8% 7%
Return on capital employed (ROCE) 1% 2% 1% 9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.92 0.00 0.05 0.00
Current Ratio 6.07 10.29 17.58 16.08
Quick ratio 6.03 10.07 17.46 15.96
Turnover ratios
Asset turnover 0.04 0.08 0.08 0.56
Fixed asset turnover 0.06 0.13 0.12 7.39
Equity turnover 0.96 0.58 0.54 0.60
Profitability ratios
EBITDA margin 28% 28% 17% 22%
Operating profit margin 23% 19% 7% 10%
Net profit margin 20% 19% 10% 15%
Other ratios
Dividends to the State 254.56 572.08
Dividends paid / net profit 0.60 2.43

Expectations of the state

Target return on equity undefined

About the company

  • Official nameUAB Viešųjų investicijų plėtros agentūra
  • Legal formPrivate limited liability company (UAB)
  • Company code303039520
  • SectorOther
  • Line of businessOffers financial services for public sector intestments
  • Institution representing the StateMinistry of Finance
  • Share belonging to the State100%
http://www.vipa.lt/
Return to the State

572 EUR thousand

ROE

7.7%

Number of employees

39

Financial data provided as at end-December 2017

Management

  • Gvidas DargužasDirector General

Information as of: 2019/07/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Gvidas DargužasUAB Viešųjų investicijų plėtros agentūra

MEMBERS OF THE BOARD OF DIRECTORS

  • Raimonda LauraitytėUAB Viešųjų investicijų plėtros agentūra
  • Kristina VaskelienėUAB Viešųjų investicijų plėtros agentūra

Information as of: 2019/07/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • NepaskirtasUnassigned

SUPERVISORY BOARD MEMBERS

  • Arūnas ČiuladaUAB Synergy finance; Independent member
  • Lina LiubauskaitėOffice of the Government
  • Raimonda EidžiūnėMinistry of Finance
  • Raimondas RapkevičiusUAB General Financing, Independent member

Information as of: 2019/07/01