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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

2018 2019 2020 2021
Revenue 6,829 6,541 5,908 6,450
Cost of goods sold 5,371 5,233 4,609 5,031
Gross profit (loss) 1,458 1,308 1,299 1,419
Gross profit margin 21% 20% 22% 22%
Operating expenses 1,119 1,269 1,284 1,270
Operating profit (loss) 339 39 15 149
Operating profit margin 5% 1% 0% 2%
EBITDA 1,850 2,048 1,235 1,656
EBITDA margin 27% 31% 21% 26%
Net profit (loss) 787 894 267 597
Net profit margin 12% 14% 5% 9%

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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 16,015 14,947 14,617 13,878
Intangible assets 35 57 43 37
Tangible assets 15,970 14,881 14,565 13,831
Financial assets 10 10 10 10
Other non-current assets
Current assets 6,222 7,172 7,270 7,940
Inventories and prepaid expenses 1,166 914 691 689
Accounts receivable in one year 1,231 1,033 1,274 1,335
Other current assets
Cash and cash equivalents 3,825 5,225 5,305 5,916
Total assets 22,247 22,128 21,898 21,829
Equity 16,542 16,836 16,633 16,929
Grants and subsidies 5,187 4,824 4,660 4,277
Liabilities 515 466 605 621
Financial liabilities 4 10
Long-term liabilities 12
Short-term liabilities 503 466 605 621
Equity and liabilities 22,247 22,128 21,898 21,829

* 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) 4% 4% 1% 3%
Return on equity (ROE) 5% 5% 2% 4%
Return on capital employed (ROCE) 8% 10% 3% 7%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00
Current Ratio 12.37 15.38 12.02 12.79
Quick ratio 10.05 13.42 10.88 11.68
Turnover ratios
Asset turnover 0.31 0.29 0.27 0.29
Fixed asset turnover 0.44 0.42 0.40 0.45
Equity turnover 0.42 0.39 0.35 0.38
Profitability ratios
EBITDA margin 27% 31% 21% 26%
Operating profit margin 5% 1% 0% 2%
Net profit margin 12% 14% 5% 9%
Other ratios
Dividends to the Municipality 597.42 467.98 298.71 129.48
Dividends paid / net profit 0.76 0.52 1.12 0.22

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

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 belonging to the Municipal99.57%
www.ust.lt
ROE

3.6%

Number of employees

67

Financial data provided as at end-December 2021