Valdymo koordinavimo centras Governance Coordination Centre

Municipality Owned Enterprises

AB Vilniaus šilumos tinklai was registered on August 21, 1997 after reorganization of SP AB Lietuvos energija. The company is the largest heating and hot water supplier in Lithuania, providing services to the households and businesses of Vilnius city. From 2002 the company’s properties was leased for 15 years to private enterprise – UAB Vilniaus energija. After the expiration of the lease agreement and the return of the property, the company continues its activities again.

Financial results

P/L Statment

2021 2022 2023 2024
Revenue 160,475 276,595 206,909 194,859
Cost of goods sold 136,262 251,706 205,013 172,211
Gross profit (loss) 24,213 24,889 1,896 22,648
Gross profit margin 15% 9% 1% 12%
Operating expenses 48,332 11,333 18,328 13,353
Operating profit (loss) -24,860 12,873 -17,152 8,447
Operating profit margin -15% 5% -8% 4%
EBITDA -13,618 24,805 43,320 22,082
EBITDA margin -8% 9% 21% 11%
Net profit (loss) -18,966 12,447 30,712 9,928
Net profit margin -12% 4% 15% 5%

Balance sheet

2021 2022 2023 2024
Non-current assets 115,192 153,999 176,528 209,440
Intangible assets 258 481 1,011 1,925
Tangible assets 106,502 147,418 164,253 191,701
Financial assets 2,578 1,835 1,153 2,152
Other non-current assets 5,853 4,264 10,111 13,662
Current assets 72,877 80,932 120,097 59,371
Inventories and prepaid expenses 7,513 27,123 28,374 13,330
Accounts receivable in one year 63,598 50,255 83,181 43,518
Other current assets 276 467
Cash and cash equivalents 1,490 3,087 8,542 2,522
Total assets 188,068 234,931 296,625 268,810
Equity 84,604 141,211 173,142 183,114
Grants and subsidies 13,801 14,302 20,825 19,437
Liabilities 64,134 52,576 70,148 56,790
Financial liabilities 7,265 5,539 3,047 21,888
Long-term liabilities 2,287 4,584 3,991 19,168
Short-term liabilities 61,847 47,992 66,157 37,622
Equity and liabilities 188,068 234,931 296,625 268,810

Financial ratios

2021 2022 2023 2024
Capital return ratios
Return on assets (ROA) -11% 6% 12% 4%
Return on equity (ROE) -20% 11% 20% 6%
Return on capital employed (ROCE) -29% 9% -10% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.04 0.02 0.01 0.08
Current Ratio 1.18 1.69 1.82 1.58
Quick ratio 1.06 1.12 1.39 1.22
Turnover ratios
Asset turnover 0.85 1.18 0.70 0.72
Fixed asset turnover 1.39 1.80 1.17 0.93
Equity turnover 1.90 1.96 1.20 1.06
Profitability ratios
EBITDA margin -8% 9% 21% 11%
Operating profit margin -15% 5% -8% 4%
Net profit margin -12% 4% 15% 5%
Other ratios
Dividends to the Municipality 0.00 0.00 0.00 11,038.50
Dividends paid / net profit 0.00 0.00 0.00 1.11

Expectations of the municipal

About the company

  • Official nameAB „Vilniaus šilumos tinklai“
  • Legal formPublic limited liability company (AB)
  • Company code124135580
  • SectorHeating networks
  • Line of businessHeat networks
  • Representing institutionVilnius city municipality
  • Share belonging to the Municipal99.77%
  • Contacts https://chc.lt/lt
Return to the Municipality

11.0 EUR milion

ROE

5.6%

Number of employees

592

Financial data provided as at end-December 2024

Management

  • Gerimantas BakanasChief Executive Officer

Information as of: 2025/06/01