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Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

UAB Varėnos šiluma was established on April 28, 2000. Main activities of the company – production and supply of heat and hot water in Varėna district.

Financial results

P/L Statment

2019 2020 2021 2022
Revenue 2,365 2,074 2,670 3,594
Cost of goods sold 2,247 1,908 2,371 3,310
Gross profit (loss) 117 166 300 283
Gross profit margin 5% 8% 11% 8%
Operating expenses 267 263 335 383
Operating profit (loss) -149 -97 -35 -99
Operating profit margin -6% -5% -1% -3%
EBITDA 320 422 517 389
EBITDA margin 14% 20% 19% 11%
Net profit (loss) -69 37 156 60
Net profit margin -3% 2% 6% 2%

* Left axis

** Right axis

*** 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 5,034 4,616 4,266 3,868
Intangible assets 4 10 7 8
Tangible assets 5,029 4,606 4,259 3,860
Financial assets 1
Other non-current assets
Current assets 981 1,396 1,738 2,152
Inventories and prepaid expenses 488 439 552 669
Accounts receivable in one year 467 549 708 937
Other current assets
Cash and cash equivalents 26 407 479 547
Total assets 6,017 6,015 6,008 6,023
Equity 3,033 3,172 3,327 3,387
Grants and subsidies 1,750 1,600 1,448 1,305
Liabilities 1,235 1,242 1,233 1,331
Financial liabilities 585 468 415 379
Long-term liabilities 718 140 252 192
Short-term liabilities 516 1,102 980 1,139
Equity and liabilities 6,017 6,015 6,008 6,023

* 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% 1% 3% 1%
Return on equity (ROE) -2% 1% 5% 2%
Return on capital employed (ROCE) -4% -3% -1% -3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.10 0.08 0.07 0.06
Current Ratio 1.90 1.27 1.77 1.89
Quick ratio 0.95 0.87 1.21 1.30
Turnover ratios
Asset turnover 0.39 0.34 0.44 0.60
Fixed asset turnover 0.47 0.45 0.63 0.93
Equity turnover 0.78 0.65 0.80 1.06
Profitability ratios
EBITDA margin 14% 20% 19% 11%
Operating profit margin -6% -5% -1% -3%
Net profit margin -3% 2% 6% 2%
Other ratios
Dividends to the Municipality 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00 0.00

* Left axis

** Right axis

*** 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 nameUAB „Varėnos šiluma“
  • Legal formPrivate limited liability company (UAB)
  • Company code184827583
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionVarėna district municipality
  • Share indirectly belonging to the Municipal0%
https://vsiluma.lt/
ROE

1.8%

Number of employees

83

Financial data provided as at end-December 2022

Management

  • Jonas EndrikisChief Executive Officer

Information as of: 4/30/2023