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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

2019 2020 2021 2022
Revenue 3,553 2,982 3,752 6,043
Cost of goods sold 3,045 2,812 3,584 5,727
Gross profit (loss) 508 170 168 316
Gross profit margin 14% 6% 4% 5%
Operating expenses 386 405 387 473
Operating profit (loss) 11 -351 -329 -282
Operating profit margin 0% -12% -9% -5%
EBITDA 536 714 558 445
EBITDA margin 15% 24% 15% 7%
Net profit (loss) 11 19 22 -88
Net profit margin 0% 1% 1% -1%

Balance sheet

2019 2020 2021 2022
Non-current assets 5,961 5,557 5,054 5,275
Intangible assets 65 54 38 57
Tangible assets 5,778 5,383 4,901 5,094
Financial assets
Other non-current assets 118 119 114 124
Current assets 671 800 1,322 2,391
Inventories and prepaid expenses 100 141 123 244
Accounts receivable in one year 496 526 803 1,704
Other current assets
Cash and cash equivalents 75 134 396 444
Total assets 6,642 6,366 6,385 7,691
Equity 2,751 2,769 2,791 2,703
Grants and subsidies 1,633 1,446 1,251 1,133
Liabilities 2,235 2,129 2,305 3,829
Financial liabilities 1,578 1,566 1,479 1,863
Long-term liabilities 1,298 1,202 1,320 1,332
Short-term liabilities 938 926 985 2,496
Equity and liabilities 6,642 6,366 6,385 7,691

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 0% 0% 0% -1%
Return on equity (ROE) 0% 1% 1% -3%
Return on capital employed (ROCE) 0% -9% -8% -7%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.24 0.25 0.23 0.24
Current Ratio 0.72 0.86 1.34 0.96
Quick ratio 0.61 0.71 1.22 0.86
Turnover ratios
Asset turnover 0.54 0.47 0.59 0.79
Fixed asset turnover 0.60 0.54 0.74 1.15
Equity turnover 1.29 1.08 1.34 2.24
Profitability ratios
EBITDA margin 15% 24% 15% 7%
Operating profit margin 0% -12% -9% -5%
Net profit margin 0% 1% 1% -1%
Other ratios
Dividends to the Municipality 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00 0.00

Expectations of the municipal

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

-3.2%

Number of employees

50

Financial data provided as at end-December 2022

Management

  • Giedrė JuršėnėChief Executive Officer

Information as of: 4/30/2023