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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

UAB Šilutės šilumos tinklai was registered on August 10, 1994. Main activities of the company – centralized supply of heating and hot water to consumers. Other services – maintenance of hot water and heat meters, maintenance of internal heating and hot water systems, hydraulic tests and flushing of heating pipelines with cogeneration water.

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 3,559 3,359 2,831 3,755
Cost of goods sold 3,422 3,307 2,774 3,362
Gross profit (loss) 136 52 57 393
Gross profit margin 4% 2% 2% 10%
Operating expenses 409 414 394 381
Operating profit (loss) -273 -362 -337 12
Operating profit margin -8% -11% -12% 0%
EBITDA 260 251 317 560
EBITDA margin 7% 7% 11% 15%
Net profit (loss) -151 -216 -262 -61
Net profit margin -4% -6% -9% -2%

* 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 7,717 9,701 9,383 9,216
Intangible assets 12 5 2 0
Tangible assets 7,615 9,569 9,207 9,030
Financial assets 6 6 6 6
Other non-current assets 84 121 168 180
Current assets 1,286 949 936 1,210
Inventories and prepaid expenses 322 252 259 318
Accounts receivable in one year 714 573 525 841
Other current assets
Cash and cash equivalents 250 123 69 51
Total assets 9,039 10,709 10,345 10,434
Equity 4,610 4,395 4,132 4,071
Grants and subsidies 2,179 3,328 3,363 3,519
Liabilities 2,223 2,969 2,836 2,835
Financial liabilities 1,189 2,581 2,261 2,174
Long-term liabilities 493 1,641 1,331 1,657
Short-term liabilities 1,730 1,328 1,505 1,178
Equity and liabilities 9,039 10,709 10,345 10,434

* 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) -2% -2% -2% -1%
Return on equity (ROE) -3% -5% -6% -1%
Return on capital employed (ROCE) -4% -4% -5% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.26 0.59 0.55 0.53
Current Ratio 0.74 0.71 0.62 1.03
Quick ratio 0.56 0.52 0.45 0.76
Turnover ratios
Asset turnover 0.41 0.34 0.27 0.36
Fixed asset turnover 0.48 0.39 0.30 0.40
Equity turnover 0.76 0.75 0.66 0.92
Profitability ratios
EBITDA margin 7% 7% 11% 15%
Operating profit margin -8% -11% -12% 0%
Net profit margin -4% -6% -9% -2%
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 „Šilutės šilumos tinklai“
  • Legal formPrivate limited liability company (UAB)
  • Company code177217875
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionŠilutė district municipality
  • Share belonging to the Municipal99.9%
https://silutesst.lt/
ROE

-1.5%

Number of employees

71

Financial data provided as at end-December 2021