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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

2019 2020 2021 2022
Revenue 2,242 2,009 2,655 3,704
Cost of goods sold 1,883 1,639 2,041 3,183
Gross profit (loss) 359 369 614 520
Gross profit margin 16% 18% 23% 14%
Operating expenses 494 398 409 694
Operating profit (loss) -196 -84 148 -239
Operating profit margin -9% -4% 6% -6%
EBITDA 226 255 430 68
EBITDA margin 10% 13% 16% 2%
Net profit (loss) 0 21 163 -221
Net profit margin 0% 1% 6% -6%

* Left axis

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*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

2019 2020 2021 2022
Non-current assets 3,125 3,754 3,550 3,350
Intangible assets 0 3 6 8
Tangible assets 3,092 3,711 3,494 3,338
Financial assets 5 5 5 5
Other non-current assets 29 34 45
Current assets 690 694 995 1,484
Inventories and prepaid expenses 194 186 362 416
Accounts receivable in one year 380 378 585 852
Other current assets 0 0
Cash and cash equivalents 117 129 48 216
Total assets 3,819 4,448 4,548 4,836
Equity 2,300 2,321 2,505 2,245
Grants and subsidies 883 1,222 1,161 1,086
Liabilities 636 906 881 1,505
Financial liabilities 282 580 386 582
Long-term liabilities 147 386 276 249
Short-term liabilities 489 520 606 1,255
Equity and liabilities 3,819 4,448 4,548 4,836

* All data in Balance Sheet table and corresponding chart is in EUR thousand, unless otherwise noted

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 0% 1% 4% -5%
Return on equity (ROE) 0% 1% 7% -9%
Return on capital employed (ROCE) -8% -3% 5% -10%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.07 0.13 0.08 0.12
Current Ratio 1.41 1.33 1.64 1.18
Quick ratio 1.02 0.98 1.04 0.85
Turnover ratios
Asset turnover 0.59 0.45 0.58 0.77
Fixed asset turnover 0.72 0.54 0.75 1.11
Equity turnover 0.97 0.87 1.06 1.65
Profitability ratios
EBITDA margin 10% 13% 16% 2%
Operating profit margin -9% -4% 6% -6%
Net profit margin 0% 1% 6% -6%
Other ratios
Dividends to the Municipality 0.00 11.82 30.02 0.00
Dividends paid / net profit 0.00 0.57 0.18 0.00

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** Right axis

*** Dividends to the municipality in Financial Ratios table is in EUR thousand

Financial statments

2021 m. metinės ataskaitos
2020 m. metinės ataskaitos

Expectations of the municipal

Letter of Expectations

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%
https://kresiti.lt/
ROE

-9.3%

Number of employees

63

Financial data provided as at end-December 2022

Management

  • Dainius BudrysChief Executive Officer

Information as of: 4/30/2023