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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

UAB Utenos šilumos tinklai was established on July 1, 1997 after reorganization of AB Lietuvos energija. Main activities of the company – production and supply of heat and hot water. Company has permission to generate electricity.

Financial results

P/L Statment

2019 2020 2021 2022
Revenue 6,541 5,908 6,449 10,372
Cost of goods sold 5,233 4,609 5,031 9,249
Gross profit (loss) 1,308 1,299 1,419 1,123
Gross profit margin 20% 22% 22% 11%
Operating expenses 1,121 1,141 1,153 1,351
Operating profit (loss) 39 15 148 -351
Operating profit margin 1% 0% 2% -3%
EBITDA 2,048 1,235 1,656 1,168
EBITDA margin 31% 21% 26% 11%
Net profit (loss) 894 267 597 159
Net profit margin 14% 5% 9% 2%

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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 14,947 14,617 13,878 14,119
Intangible assets 57 43 37 32
Tangible assets 14,881 14,565 13,831 14,077
Financial assets 10 10 10 10
Other non-current assets 0 0 0 0
Current assets 7,172 7,270 7,940 8,289
Inventories and prepaid expenses 914 691 689 1,323
Accounts receivable in one year 1,033 1,274 1,335 2,738
Other current assets 0 0 0
Cash and cash equivalents 5,225 5,305 5,916 4,228
Total assets 22,128 21,898 21,829 22,418
Equity 16,836 16,633 16,929 16,959
Grants and subsidies 4,824 4,660 4,277 3,843
Liabilities 466 605 621 1,615
Financial liabilities 10 0 0 0
Long-term liabilities 0 0 0 0
Short-term liabilities 466 605 621 1,615
Equity and liabilities 22,128 21,898 21,829 22,418

* 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) 4% 1% 3% 1%
Return on equity (ROE) 5% 2% 4% 1%
Return on capital employed (ROCE) 0% 0% 1% -2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 15.38 12.02 12.79 5.13
Quick ratio 13.42 10.88 11.68 4.31
Turnover ratios
Asset turnover 0.30 0.27 0.30 0.46
Fixed asset turnover 0.44 0.40 0.46 0.73
Equity turnover 0.39 0.36 0.38 0.61
Profitability ratios
EBITDA margin 31% 21% 26% 11%
Operating profit margin 1% 0% 2% -3%
Net profit margin 14% 5% 9% 2%
Other ratios
Dividends to the Municipality 467.98 298.71 129.48 0.00
Dividends paid / net profit 0.52 1.12 0.22 0.00

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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 nameUAB „Utenos šilumos tinklai“
  • Legal formPrivate limited liability company (UAB)
  • Company code183843314
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionUtena district municipality
  • Share indirectly belonging to the Municipal0%
https://ust.lt
ROE

0.9%

Number of employees

66

Financial data provided as at end-December 2022