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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

UAB „Mažeikių šilumos tinklai“ consists of the Mažeikiai boiler house, which has been operating since 1974, the Reivyčiai boiler house, which has been operating since 1974. In November 2008, Viekšniai boiler house was also connected and in 2008 the reserve hospital boiler house was built. Boiler networks are not interconnected and operate autonomously. The main nature of the company’s activities is the supply of steam and hot water.

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 6,948 5,958 4,702 5,750
Cost of goods sold 6,115 5,392 4,345 5,327
Gross profit (loss) 833 567 357 422
Gross profit margin 12% 10% 8% 7%
Operating expenses 730 709 620 637
Operating profit (loss) 104 -142 -263 -215
Operating profit margin 1% -2% -6% -4%
EBITDA 1,228 982 879 523
EBITDA margin 18% 16% 19% 9%
Net profit (loss) 214 80 43 -180
Net profit margin 3% 1% 1% -3%

Balance sheet

2018 2019 2020 2021
Non-current assets 9,596 9,102 8,879 10,399
Intangible assets 1 0 0 0
Tangible assets 9,589 9,094 8,870 10,390
Financial assets
Other non-current assets 7 8 9 9
Current assets 3,588 3,641 3,679 3,004
Inventories and prepaid expenses 1,077 712 460 415
Accounts receivable in one year 1,413 1,117 905 1,439
Other current assets
Cash and cash equivalents 1,098 1,812 2,314 1,149
Total assets 13,189 12,751 12,565 13,410
Equity 7,153 7,205 7,240 7,054
Grants and subsidies 2,640 2,546 2,434 3,372
Liabilities 3,397 2,999 2,892 2,984
Financial liabilities 2,633 2,493 2,418 2,353
Long-term liabilities 2,290 2,097 2,021 1,793
Short-term liabilities 1,013 858 825 1,147
Equity and liabilities 13,190 12,751 12,565 13,410

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 2% 1% 0% -1%
Return on equity (ROE) 3% 1% 1% -3%
Return on capital employed (ROCE) 4% 2% 1% -3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.37 0.35 0.33 0.33
Current Ratio 3.54 4.25 4.46 2.62
Quick ratio 2.48 3.42 3.90 2.26
Turnover ratios
Asset turnover 0.53 0.46 0.37 0.44
Fixed asset turnover 0.71 0.64 0.52 0.60
Equity turnover 0.98 0.83 0.65 0.80
Profitability ratios
EBITDA margin 18% 16% 19% 9%
Operating profit margin 1% -2% -6% -4%
Net profit margin 3% 1% 1% -3%
Other ratios
Dividends to the Municipality 27.28 9.10 5.50
Dividends paid / net profit 0.13 0.11 0.13

Financial statments

Expectations of the municipal

About the company

  • Official nameUAB „Mažeikių šilumos tinklai“
  • Legal formPrivate limited liability company (UAB)
  • Company code166901968
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionMažeikiai district municipality
  • Share belonging to the Municipal99.94%
http://www.mst.lt/
ROE

-2.5%

Number of employees

76

Financial data provided as at end-December 2021