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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

AB Panevėžio energija was registered on April 8, 1991. Main activities of the company – production and supply of heating, hot water and electricity, maintenance of internal heating and hot water systems.

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 37,023 34,581 29,483 36,982
Cost of goods sold 32,420 30,593 25,349 33,891
Gross profit (loss) 4,604 3,988 4,134 3,091
Gross profit margin 12% 12% 14% 8%
Operating expenses 2,731 3,795 3,449 3,343
Operating profit (loss) 1,873 193 685 -252
Operating profit margin 5% 1% 2% -1%
EBITDA 9,506 4,929 5,961 5,023
EBITDA margin 26% 14% 20% 14%
Net profit (loss) 5,169 740 1,763 383
Net profit margin 14% 2% 6% 1%

* Left axis

** Right axis

*** 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 78,981 85,979 86,889 84,530
Intangible assets 124 178 160 144
Tangible assets 78,141 85,054 85,983 83,582
Financial assets 124 120 119 174
Other non-current assets 593 627 628 629
Current assets 10,464 12,176 8,377 9,723
Inventories and prepaid expenses 2,533 2,089 2,020 1,558
Accounts receivable in one year 6,588 9,731 6,227 7,378
Other current assets
Cash and cash equivalents 1,343 356 131 787
Total assets 89,491 98,252 95,331 94,297
Equity 54,959 54,954 56,484 56,345
Grants and subsidies 23,184 31,811 30,191 28,373
Liabilities 11,348 11,487 8,656 9,578
Financial liabilities 3,432 4,643 2,635
Long-term liabilities 1,718 4 4 2
Short-term liabilities 8,526 10,218 7,399 8,372
Equity and liabilities 89,491 98,252 95,331 94,297

* 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) 6% 1% 2% 0%
Return on equity (ROE) 10% 1% 3% 1%
Return on capital employed (ROCE) 13% 1% 3% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.06 0.08 0.05
Current Ratio 1.23 1.19 1.13 1.16
Quick ratio 0.93 0.99 0.86 0.98
Turnover ratios
Asset turnover 0.43 0.37 0.30 0.39
Fixed asset turnover 0.49 0.42 0.34 0.43
Equity turnover 0.70 0.63 0.53 0.66
Profitability ratios
EBITDA margin 26% 14% 20% 14%
Operating profit margin 5% 1% 2% -1%
Net profit margin 14% 2% 6% 1%
Other ratios
Dividends to the Municipality 732.08 228.81 512.51 119.02
Dividends paid / net profit 0.14 0.31 0.29 0.31

* Left axis

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

Financial statments

Expectations of the municipal

Letter of Expectations

About the company

  • Official nameAB „Panevėžio energija“
  • Legal formPublic limited liability company (AB)
  • Company code147248313
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionPanevėžys city municipality
    ↑ Controlling (holding the largest share) institution

    Kėdainiai district municipality
    Kupiškis district municipality
    Panevėžys district municipality
    Pasvalys district municipality
    Rokiškis district municipality
    Zarasai district municipality
  • Share belonging to the Municipal98.2%
https://www.pe.lt/
ROE

0.7%

Number of employees

419

Financial data provided as at end-December 2021