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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

UAB Kretingos šilumos tinklai was registered in 1998 after the reorganization of SP AB Klaipedos Energija. In 2003 registered change of name from SP UAB “Kretingos šilumos tinklai” to UAB “Kretingos šilumos tinklai”. The main activity is steam and hot water supply. Other activities – maintenance of heating systems

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 2,386 2,242 2,009 2,655
Cost of goods sold 2,034 1,883 1,639 2,041
Gross profit (loss) 352 359 369 614
Gross profit margin 15% 16% 18% 23%
Operating expenses 432 555 454 466
Operating profit (loss) -80 -196 -84 148
Operating profit margin -3% -9% -4% 6%
EBITDA 256 226 255 432
EBITDA margin 11% 10% 13% 16%
Net profit (loss) 35 0 21 163
Net profit margin 1% 0% 1% 6%

Balance sheet

2018 2019 2020 2021
Non-current assets 3,219 3,125 3,754 3,550
Intangible assets 6 0 3 6
Tangible assets 3,175 3,092 3,711 3,494
Financial assets 5 5 5 5
Other non-current assets 33 29 34 45
Current assets 897 690 694 995
Inventories and prepaid expenses 173 194 186 362
Accounts receivable in one year 606 380 378 585
Other current assets
Cash and cash equivalents 118 117 129 48
Total assets 4,118 3,819 4,448 4,548
Equity 2,339 2,300 2,321 2,505
Grants and subsidies 937 883 1,222 1,161
Liabilities 843 636 906 881
Financial liabilities 404 282 580 386
Long-term liabilities 282 147 386 276
Short-term liabilities 560 489 520 606
Equity and liabilities 4,118 3,819 4,448 4,548

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 1% 0% 1% 4%
Return on equity (ROE) 2% 0% 1% 7%
Return on capital employed (ROCE) 3% 0% 1% 10%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.17 0.12 0.25 0.15
Current Ratio 1.60 1.41 1.33 1.64
Quick ratio 1.29 1.02 0.98 1.04
Turnover ratios
Asset turnover 0.58 0.56 0.49 0.59
Fixed asset turnover 0.73 0.71 0.58 0.73
Equity turnover 1.02 0.97 0.87 1.10
Profitability ratios
EBITDA margin 11% 10% 13% 16%
Operating profit margin -3% -9% -4% 6%
Net profit margin 1% 0% 1% 6%
Other ratios
Dividends to the Municipality 11.82 30.02
Dividends paid / net profit 0.57 0.18

Financial statments

About the company

  • Official nameUAB Kretingos šilumos tinklai
  • Legal formPrivate limited liability company (UAB)
  • Company code164294882
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionKretinga district municipality
  • Share belonging to the Municipal75.8%
http://www.kresiti.lt/
ROE

6.8%

Number of employees

67

Financial data provided as at end-December 2021