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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

AB Šiaulių energija was registered on August 15, 1998. Main activities of the company – production and supply of heat, electricity and hot water. Company provides services mainly in Šiauliai district.

Financial results

P/L Statment

2019 2020 2021 2022
Revenue 22,626 20,867 27,411 40,327
Cost of goods sold 21,528 18,330 25,237 34,448
Gross profit (loss) 1,098 2,536 2,174 5,879
Gross profit margin 5% 12% 8% 15%
Operating expenses 821 869 913 1,187
Operating profit (loss) 277 1,667 1,261 4,691
Operating profit margin 1% 8% 5% 12%
EBITDA 4,198 5,323 4,886 8,403
EBITDA margin 19% 26% 18% 21%
Net profit (loss) 766 1,660 1,349 5,345
Net profit margin 3% 8% 5% 13%

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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 59,250 59,956 61,909 60,800
Intangible assets 14 30 57 32
Tangible assets 59,236 59,927 61,852 60,768
Financial assets
Other non-current assets
Current assets 6,183 7,672 10,235 13,879
Inventories and prepaid expenses 2,007 2,090 2,803 2,362
Accounts receivable in one year 4,015 3,851 6,469 9,194
Other current assets
Cash and cash equivalents 161 1,730 963 2,323
Total assets 65,673 67,822 72,290 74,928
Equity 39,930 41,491 42,764 48,005
Grants and subsidies 16,528 18,187 18,683 18,149
Liabilities 9,073 8,016 10,726 8,607
Financial liabilities 6,828 5,926 7,481 2,947
Long-term liabilities 4,256 4,612 2,762 864
Short-term liabilities 4,817 3,404 7,965 7,743
Equity and liabilities 65,673 67,822 72,290 74,928

* 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% 2% 7%
Return on equity (ROE) 2% 4% 3% 12%
Return on capital employed (ROCE) 1% 4% 3% 10%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.10 0.09 0.10 0.04
Current Ratio 1.28 2.25 1.29 1.79
Quick ratio 0.87 1.64 0.93 1.49
Turnover ratios
Asset turnover 0.34 0.31 0.38 0.54
Fixed asset turnover 0.38 0.35 0.44 0.66
Equity turnover 0.57 0.50 0.64 0.84
Profitability ratios
EBITDA margin 19% 26% 18% 21%
Operating profit margin 1% 8% 5% 12%
Net profit margin 3% 8% 5% 13%
Other ratios
Dividends to the Municipality 99.90 74.92 104.89 476.50
Dividends paid / net profit 0.13 0.05 0.08 0.09

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

Financial statments

2021 m. metinės ataskaitos
2020 m. metinės ataskaitos

Expectations of the municipal

Letter of Expectations

About the company

  • Official nameAB „Šiaulių energija“
  • Legal formPublic limited liability company (AB)
  • Company code245358580
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionŠiauliai city municipality
    ↑ Controlling (holding the largest share) institution

    Šiauliai district municipality
  • Share belonging to the Municipal95.3%
https://senergija.lt/
Return to the Municipality

476 EUR thousand

ROE

11.8%

Number of employees

226

Financial data provided as at end-December 2022

Management

  • Virgilijus PavlavičiusChief Executive Officer

Information as of: 4/30/2023