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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

2019 2020 2021 2022
Revenue 34,581 29,483 36,982 54,657
Cost of goods sold 30,593 25,349 33,891 51,190
Gross profit (loss) 3,988 4,134 3,091 3,468
Gross profit margin 12% 14% 8% 6%
Operating expenses 3,795 3,449 3,343 4,223
Operating profit (loss) 193 685 -252 -755
Operating profit margin 1% 2% -1% -1%
EBITDA 4,929 5,961 5,077 6,827
EBITDA margin 14% 20% 14% 12%
Net profit (loss) 740 1,763 383 2,178
Net profit margin 2% 6% 1% 4%

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

Balance sheet

2019 2020 2021 2022
Non-current assets 85,979 86,889 84,530 80,730
Intangible assets 178 160 144 129
Tangible assets 85,054 85,983 83,582 79,689
Financial assets 120 119 174 194
Other non-current assets 627 628 629 719
Current assets 12,176 8,377 9,723 16,269
Inventories and prepaid expenses 2,089 2,020 1,558 3,693
Accounts receivable in one year 9,731 6,227 7,378 11,968
Other current assets
Cash and cash equivalents 356 131 787 607
Total assets 98,252 95,331 94,297 97,048
Equity 54,954 56,484 56,345 58,402
Grants and subsidies 31,811 30,191 28,373 27,274
Liabilities 10,222 7,403 8,375 9,706
Financial liabilities 4,643 2,635 0 1,037
Long-term liabilities 4 4 2 1
Short-term liabilities 10,218 7,399 8,372 9,705
Equity and liabilities 98,252 95,331 94,297 97,048

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

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 1% 2% 0% 2%
Return on equity (ROE) 1% 3% 1% 4%
Return on capital employed (ROCE) 0% 1% -0% -1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.05 0.03 0.00 0.01
Current Ratio 1.19 1.13 1.16 1.68
Quick ratio 0.99 0.86 0.98 1.30
Turnover ratios
Asset turnover 0.35 0.31 0.39 0.56
Fixed asset turnover 0.40 0.34 0.44 0.68
Equity turnover 0.63 0.52 0.66 0.94
Profitability ratios
EBITDA margin 14% 20% 14% 12%
Operating profit margin 1% 2% -1% -1%
Net profit margin 2% 6% 1% 4%
Other ratios
Dividends to the Municipality 228.81 512.51 119.02 387.53
Dividends paid / net profit 0.31 0.29 0.31 0.18

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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 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 Municipal59.4%
https://pe.lt/
Return to the Municipality

388 EUR thousand

ROE

3.8%

Number of employees

405

Financial data provided as at end-December 2022