1705106206
This Civitta study also found that the economic benefit of the hundred largest manufacturing companies operating in Lithuania was almost 30 billion. Euro, 50 percent which went to the state, namely 25 percent each. – for employees and shareholders.
“If you look at the 100 largest companies, they only make up about 1.2 percent. sector, but they employ about 22 percent. employees and they create around 58 percent of this sector’s turnover,” said R. Šalaševičius on Wednesday during the presentation “Contribution of manufacturing companies to the Lithuanian economy – a lot or a little?”
“Nothing revolutionary has been revealed, but it shows that the state should love companies the most because they bring the greatest benefit,” he added.
According to Civitta representatives, the three largest companies operating in the country – Orlen Lietuva, Philip Morris and MV Group Production – account for half of all taxes paid to the state. 2013-2022 During this period, “Orlen Lietuva” paid 5.7 billion to the state. Euro, Philip Morris – almost 2 billion. EUR and “MV Group Production” – almost 1 billion. Euro.
“The segment includes profit tax, taxes paid by employees, as well as VAT and excise taxes,” said R. Šalaševičius.
At that time, Civitta analyst Martynas Venclavičius noted that the income of the production segment increased by 82 percent during the analyzed period, but the average salary of the employee increased by more than 2.5 times. He also found that the profitability of the company and the profit for the employee are positively correlated with the average salary.
“The main indicators of the analysis would be income, income per employee, salaries of employees, average salary, number of employees, their number in companies, profitability and taxes to the state. It is good to see that all of these indicators have increased over the last decade. And what is particularly important is that most of the fruits of growth were also passed on to the employees,” explained M. Venclavičius.
According to the analyst, the two companies with the highest revenue were “Orlen Lietuva”, whose revenues amounted to up to 44.8 billion. EUR and Thermo Fisher Scientific Baltics – 6.1 billion. Euro. The revenues of all other manufacturing companies did not reach the 1 billion mark. Euro.
The most profitable companies at the time were the biotechnology company Thermo Fisher Scientific Baltic and the laser manufacturer Light Conversion, whose profitability was over 34 percent. However, other companies examined also worked profitably; only 4 out of 100 companies examined operated at a loss.
Civitta has developed a new business contribution analysis tool
R. Šalaševičius also mentioned that as part of the research, the company Civitta developed a performance analysis tool for the hundred largest companies in the manufacturing industry, which aims to assess the impact of production investments.
“That it is not a one-time analysis, but a constantly updated tool that will be posted on the investor forum website.” And there you can analyze various 10-year indicators, and next year we see an opportunity to have this information to update,” he said.
The information collected in this data analysis tool covers the years 2013 to 2022 and includes sales, profitability, taxes to the state, wages paid, number of employees and direct value of manufacturing companies.
Every euro invested by Phillip Morris generated a benefit of 13.5 euros
According to Civitta, the aim of the study was to determine the indirect return on business investments per euro invested over the past 30 years, which is why the period since 1993 was chosen for this purpose. “Philip Morris” operates in Lithuania. According to Civitta representatives, Philip Morris’ activities in Lithuania in the period 1993-2022. Over the period, 5.2 billion people were created EUR of benefits, and the ratio of benefits and investments received by each was EUR 13.5 for EUR 1.
“Philip Morris” has invested 384 million over 30 years in the development of production in Lithuania. Euro. The impact of this activity amounted to 4.327 billion. EUR., of which 3.637 billion 307 million euros in taxes. Salaries of 384 million euros EUR profit for shareholders. Orders from companies to other companies – an indirect benefit of the investments for the economy – amounted to 862 million. Euro.
#largest #companies #operating #Lithuania #account #taxes #paid #state