Miesto gijos
AB Miesto gijos was registered on August 21, 1997 after reorganization of SP AB Lietuvos energija. The company is the largest heating and hot water supplier in Lithuania, providing services to the households and businesses of Vilnius city. From 2002 the company’s properties was leased for 15 years to private enterprise – UAB Vilniaus energija. After the expiration of the lease agreement and the return of the property, the company continues its activities again.
Financial results
P/L Statment
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue | 276,595 | 206,909 | 194,859 | 198,878 |
| Cost of goods sold | 251,706 | 205,013 | 172,211 | 162,830 |
| Gross profit (loss) | 24,889 | 1,896 | 22,648 | 36,048 |
| Gross profit margin | 9% | 1% | 12% | 18% |
| Operating expenses | 11,333 | 18,328 | 13,353 | 14,551 |
| Operating profit (loss) | 12,873 | -17,152 | 8,447 | 20,695 |
| Operating profit margin | 5% | -8% | 4% | 10% |
| EBITDA | 24,805 | 43,320 | 22,082 | 35,146 |
| EBITDA margin | 9% | 21% | 11% | 18% |
| Net profit (loss) | 12,447 | 30,712 | 9,928 | 21,490 |
| Net profit margin | 4% | 15% | 5% | 11% |
Balance sheet
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Non-current assets | 153,999 | 176,528 | 209,440 | 227,386 |
| Intangible assets | 481 | 1,011 | 1,925 | 3,506 |
| Tangible assets | 147,418 | 164,253 | 191,701 | 207,852 |
| Financial assets | 1,835 | 1,153 | 2,152 | 1,803 |
| Other non-current assets | 4,264 | 10,111 | 13,662 | 14,225 |
| Current assets | 80,932 | 120,097 | 59,371 | 69,625 |
| Inventories and prepaid expenses | 27,123 | 28,374 | 13,330 | 9,594 |
| Accounts receivable in one year | 50,255 | 83,181 | 43,518 | 38,702 |
| Other current assets | 467 | |||
| Cash and cash equivalents | 3,087 | 8,542 | 2,522 | 21,329 |
| Total assets | 234,931 | 296,625 | 268,810 | 297,011 |
| Equity | 141,211 | 173,142 | 183,114 | 195,853 |
| Grants and subsidies | 14,302 | 20,825 | 19,437 | 16,509 |
| Liabilities | 52,576 | 70,148 | 56,790 | 77,325 |
| Financial liabilities | 23,554 | 29,533 | 21,888 | 43,000 |
| Long-term liabilities | 4,584 | 3,991 | 19,168 | 46,345 |
| Short-term liabilities | 47,992 | 66,157 | 37,622 | 30,980 |
| Equity and liabilities | 234,931 | 296,625 | 268,810 | 297,011 |
Financial ratios
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 6% | 12% | 4% | 8% |
| Return on equity (ROE) | 11% | 20% | 6% | 11% |
| Return on capital employed (ROCE) | 9% | -10% | 4% | 9% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.10 | 0.10 | 0.08 | 0.14 |
| Current Ratio | 1.69 | 1.82 | 1.58 | 2.25 |
| Quick ratio | 1.12 | 1.39 | 1.22 | 1.94 |
| Turnover ratios | ||||
| Asset turnover | 1.18 | 0.70 | 0.72 | 0.67 |
| Fixed asset turnover | 1.80 | 1.17 | 0.93 | 0.87 |
| Equity turnover | 1.96 | 1.20 | 1.06 | 1.02 |
| Profitability ratios | ||||
| EBITDA margin | 9% | 21% | 11% | 18% |
| Operating profit margin | 5% | -8% | 4% | 10% |
| Net profit margin | 4% | 15% | 5% | 11% |
| Other ratios | ||||
| Dividends to the Municipality | 0.00 | 0.00 | 11,038.50 | 5,000.00 |
| Dividends paid / net profit | 0.00 | 0.00 | 1.11 | 0.23 |
Expectations of the municipal
About the company
- Official nameAB Miesto gijos
- Legal formPublic limited liability company (AB)
- Company code124135580
- SectorHeating networks
- Line of businessHeat networks
- Representing institutionVilnius city municipality
- Share belonging to the Municipal100%
- Contacts https://miestogijos.lt/
Return to the Municipality
5.0 EUR milion
ROE
11.3%
Number of employees
555
Financial data provided as at end-December 2024
Management
- Gerimantas BakanasChief Executive Officer
Information as of: 2026-06-01
