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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

On June 30, 2003, the company was re-registered from the Special Purpose Company to the Private Limited Liability Company “Palangos vandenys”. On October 10, 2008, the 100th anniversary of the centralized supply of drinking water to consumers in Palanga and the 55th anniversary of the establishment of a water supply company in Palanga was commemorated. The main activity is the supply of drinking water to Palanga city subscribers (consumers) from Palanga (second and third), Šventoji, Nemirseta and Būtingė wells.

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 2,636 2,700 2,760 3,083
Cost of goods sold 1,915 1,907 2,046 2,309
Gross profit (loss) 721 792 715 774
Gross profit margin 27% 29% 26% 25%
Operating expenses 750 880 724 832
Operating profit (loss) -29 -87 -9 -58
Operating profit margin -1% -3% -0% -2%
EBITDA 717 752 862 837
EBITDA margin 27% 28% 31% 27%
Net profit (loss) 46 15 62 41
Net profit margin 2% 1% 2% 1%

* 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

2018 2019 2020 2021
Non-current assets 23,502 23,261 24,169 24,480
Intangible assets 6 2 1 1
Tangible assets 23,423 23,181 24,098 24,414
Financial assets
Other non-current assets 73 78 70 66
Current assets 1,030 1,080 1,419 972
Inventories and prepaid expenses 133 73 132 115
Accounts receivable in one year 468 361 338 412
Other current assets 145 145 145 145
Cash and cash equivalents 284 502 804 301
Total assets 24,532 24,348 25,598 25,461
Equity 13,099 13,114 13,176 13,216
Grants and subsidies 11,122 10,889 12,024 11,818
Liabilities 312 345 398 427
Financial liabilities
Long-term liabilities 28
Short-term liabilities 284 345 398 427
Equity and liabilities 24,532 24,348 25,598 25,461

* 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) 0% 0% 0% 0%
Return on equity (ROE) 0% 0% 0% 0%
Return on capital employed (ROCE) 0% 0% 0% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 3.62 3.13 3.56 2.28
Quick ratio 3.16 2.92 3.23 2.01
Turnover ratios
Asset turnover 0.11 0.11 0.11 0.12
Fixed asset turnover 0.11 0.12 0.12 0.13
Equity turnover 0.20 0.21 0.21 0.23
Profitability ratios
EBITDA margin 27% 28% 31% 27%
Operating profit margin -1% -3% -0% -2%
Net profit margin 2% 1% 2% 1%
Other ratios
Dividends to the Municipality
Dividends paid / net profit

* Left axis

** Right axis

*** 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 vandenys“
  • Legal formPrivate limited liability company (UAB)
  • Company code152447391
  • SectorWater utilities
  • Line of businessUtilities: water
  • Representing institutionPalanga city municipality
  • Share belonging to the Municipal99.7%
https://palangosvandenys.lt/
ROE

0.3%

Number of employees

93

Financial data provided as at end-December 2021