[ad_1]
Last year, the parent company of the group alone, Lietuvos Rytas, suffered LTL 13,826 million. net loss: 14 times more than in 2018 (990.2 thousand euros). They were determined by the depreciation of investments in the sold Lietuvos Rytas television set, which is revealed in the report submitted to the Records Center.
According to her, Lietuvos Rytas Television has been operating at a loss for several years, and the losses have been covered by increasing its authorized capital. Each increase was reflected in the balance sheet of the parent company Lietuvos Rytas as an investment in a subsidiary.
“The sale price of the subsidiary’s shares was significantly less than the value of the investment in it. The company suffered a loss due to the depreciation of the investment. Excluding the impairment of the investment, the company’s result for 2019 It was positive, ”states the Lietuvos Rytas report.
The sale price of the television is not disclosed in the report, but indicates that Lietuvos Rytas’ losses from the transfer of investments last year amounted to LTL 16,902 million. At that time, the value of the company’s investments in subsidiaries decreased by 16,970 million euros. euros According to BNS calculations, this shows that Lietuvos Rytas television had to be sold for 68 thousand. euros
Last year, Lietuvos Rytas Group’s consolidated sales revenue decreased by 12.7 percent. up to 26,573 million only the main companies – 7.3 percent. up to 5,273 million euros
Circulation sales revenue (print and subscription retail sales) decreased 3.7 percent. to 3.62 million Internet and press advertising revenue increased 1.2%. to 3.86 million Print job revenue decreased by 10.8%. up to 16.6 million euros
Last year, the group exported products worth 9.5 million. EUR – 17.4 percent. less than in 2018. Most exports consist of printing magazines and advertising publications for foreign clients.
Lietuvos Rytas Group consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) increased 28.7 percent last year. to 2.6 million EBITDA margin increased by 3.2 percentage points to 9.8 percent.
Last year, the printing press of Lietuvos Ryto, a subsidiary of the group, suffered 667,000. At that time, his profit in 2018 was 25.4 thousand euros. euros The portal lrytas.lt earned 39 thousand last year. Net profit in euros (in 2018 – loss of 247 thousand euros).
The company sold Lietuvos rytas television shares to producer Singing fish to producer Povilas Skaisgiris in July last year, therefore it only accounted for the results of television operations in the first half of the year, when the company suffered 355.9 thousand LTL. loss of the euro
Last year, the companies of the Lietuvos Rytas Group earned LTL 2.22 million. Profit in euros from other activities: 50.9 percent. More than in 2018. Most of it consisted of gains on the sale of property, plant and equipment, as well as gains from leasing activities.
Last year, Lietuvos Rytas sold the administrative building on Gediminas Avenue in the capital to Saulės Kopos, a real estate development company owned by the owners of the Norvelita fisheries production and trade group, for an undisclosed amount.
According to Lietuvos Rytas, earlier this year the group’s annual operating profit was forecast to be close to zero this year, but after the government introduced quarantine, the group’s advertising revenue decreased and demand for print jobs decreased. . According to Lietuvos Rytas, it is not yet possible to predict the impact of the announced quarantine on this year’s results.
At the end of 2019, the Group companies had 413 employees (485 at the end of 2018).
36 percent. Lietuvos Rytas shares are owned by Big Group, owned by Ben Gudel, 26 percent. – Gedvydas Vainauskas, 13 percent. – Vidmantas Strimaitis.
[ad_2]
