• en
  • lt
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

2015 2016 2017 2018
Revenue 1,682 1,772 1,671 1,629
Cost of goods sold 568 625 624 995
Gross profit (loss) 1,113 1,148 1,047 634
Gross profit margin 66% 65% 63% 39%
Operating expenses 342 647 837 624
Operating profit (loss) 771 501 210 10
Operating profit margin 46% 28% 13% 1%
EBITDA 820 574 371 150
EBITDA margin 49% 32% 22% 9%
Net profit (loss) 654 424 235 70
Net profit margin 39% 24% 14% 4%
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

2015 2016 2017 2018
Non-current assets 29,184 28,456 324 321
Intangible assets 60 106 271 268
Tangible assets 76 74 48 43
Financial assets 29,047 28,275 6 10
Other non-current assets
Biological assets
Current assets 11,917 10,174 2,881 11,523
Inventories and prepaid expenses 10 70 12 14
Accounts receivable in one year 7,821 3,409 588 564
Other current assets 1,000 1,000
Cash and cash equivalents 4,086 6,694 1,282 9,945
Total assets 41,100 38,639 3,213 11,854
Equity 873 3,098 3,045 2,567
Minority share of capital
Grants and subsidies
Liabilities 40,227 35,541 164 9,287
Financial liabilities 37,979 35,382
Long-term liabilities 37,345 33,864
Short-term liabilities 2,866 1,660 151 9,282
Equity and liabilities 41,100 38,639 3,213 11,854
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

2016 2017 2018
Capital return ratios
Return on assets (ROA) 1% 1% 1%
Return on equity (ROE) 21% 8% 2%
Return on capital employed (ROCE) 3% 18% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 11.42
Current Ratio 6.13 19.06 1.24
Quick ratio 6.09 18.98 1.24
Turnover ratios
Asset turnover 0.04 0.08 0.22
Fixed asset turnover 0.06 0.12 5.05
Equity turnover 0.89 0.54 0.58
Profitability ratios
EBITDA margin 32% 22% 9%
Operating profit margin 28% 13% 1%
Net profit margin 24% 14% 4%
Other ratios
Dividends to the State 254.56 572.10 266.50
Dividends paid / net profit 0.60 2.43 3.83
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

266 EUR thousand

ROE

2.5%

Number of employees

51

Financial data provided as at end-December 2018

Management

  • Gvidas DargužasDirector General

Information as of: 2019/11/01

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: 2019/11/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Arūnas ČiuladaUAB Synergy finance; Independent member

SUPERVISORY BOARD MEMBERS

  • Lina LiubauskaitėOffice of the Government
  • Raimonda EidžiūnėMinistry of Finance
  • Raimondas RapkevičiusUAB General Financing, Independent member
  • Vaidotas DirmeikisJSC Lietuvos geležinkeliai​; Independent member

Information as of: 2019/11/01