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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

UAB Palangos šilumos tinklai was established in 1998. In the end of 2000, company was leased to international company Dalkia and became a branch of UAB Litesko. In 2016 municipality of Palanga and Palangos šilumos tinklai took over property of the company again. The main activities of the company – supply of hot water and heating, maintenance of internal heating and hot water systems and various real estate services.

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 3,620 3,553 2,982 3,752
Cost of goods sold 3,422 3,045 2,812 3,584
Gross profit (loss) 198 508 170 168
Gross profit margin 5% 14% 6% 4%
Operating expenses 556 497 521 497
Operating profit (loss) -358 11 -351 -329
Operating profit margin -10% 0% -12% -9%
EBITDA 80 536 714 730
EBITDA margin 2% 15% 24% 19%
Net profit (loss) -148 11 19 22
Net profit margin -4% 0% 1% 1%

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

Balance sheet

2018 2019 2020 2021
Non-current assets 4,538 5,961 5,557 5,054
Intangible assets 48 65 54 38
Tangible assets 4,364 5,778 5,383 4,901
Financial assets
Other non-current assets 126 118 119 114
Current assets 847 671 800 1,322
Inventories and prepaid expenses 127 100 141 123
Accounts receivable in one year 650 496 526 803
Other current assets
Cash and cash equivalents 70 75 134 396
Total assets 5,396 6,642 6,366 6,385
Equity 2,739 2,751 2,769 2,791
Grants and subsidies 945 1,633 1,446 1,251
Liabilities 1,648 2,235 2,129 2,305
Financial liabilities 809 1,578 1,566 1,479
Long-term liabilities 528 1,298 1,202 1,320
Short-term liabilities 1,120 938 926 985
Equity and liabilities 5,396 6,642 6,366 6,385

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

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) -3% 0% 0% 0%
Return on equity (ROE) -5% 0% 1% 1%
Return on capital employed (ROCE) -15% 2% 2% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.30 0.57 0.57 0.53
Current Ratio 0.76 0.72 0.86 1.34
Quick ratio 0.64 0.61 0.71 1.22
Turnover ratios
Asset turnover 0.65 0.59 0.46 0.59
Fixed asset turnover 0.77 0.68 0.52 0.71
Equity turnover 1.29 1.29 1.08 1.35
Profitability ratios
EBITDA margin 2% 15% 24% 19%
Operating profit margin -10% 0% -12% -9%
Net profit margin -4% 0% 1% 1%
Other ratios
Dividends to the Municipality
Dividends paid / net profit

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

Financial statments

2020 m. metinės ataskaitos

Expectations of the municipal

Letter of Expectations

About the company

  • Official nameUAB „Palangos šilumos tinklai“
  • Legal formPrivate limited liability company (UAB)
  • Company code152697886
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionPalanga city municipality
  • Share belonging to the Municipal99.98%
https://palangosst.lt/
ROE

0.8%

Number of employees

46

Financial data provided as at end-December 2021