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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

2018 2019 2020 2021
Revenue 140,878 129,997 107,505 160,475
Cost of goods sold 104,069 95,112 70,545 137,003
Gross profit (loss) 36,809 34,885 36,960 23,472
Gross profit margin 26% 27% 34% 15%
Operating expenses 32,886 29,435 31,643 48,332
Operating profit (loss) 3,923 5,450 5,317 -24,860
Operating profit margin 3% 4% 5% -15%
EBITDA 14,792 15,364 17,301 -13,618
EBITDA margin 11% 12% 16% -8%
Net profit (loss) 5,938 6,447 7,419 -18,966
Net profit margin 4% 5% 7% -12%

Balance sheet

2018 2019 2020 2021
Non-current assets 95,916 109,481 107,055 115,192
Intangible assets 358 315 254 258
Tangible assets 94,047 104,226 102,920 106,502
Financial assets 62 2,721 2,196 2,578
Other non-current assets 1,449 2,218 1,685 5,853
Current assets 45,026 31,967 41,221 72,877
Inventories and prepaid expenses 3,857 4,486 2,355 7,513
Accounts receivable in one year 36,333 21,811 22,283 63,598
Other current assets 194 169 247 276
Cash and cash equivalents 4,195 4,014 16,018 1,490
Total assets 140,942 141,447 148,276 188,068
Equity 96,063 99,873 108,571 84,604
Grants and subsidies 6,063 9,832 10,665 13,801
Liabilities 38,817 31,742 28,650 88,318
Financial liabilities 9,049 7,619 8,284 45,131
Long-term liabilities 7,958 8,636 6,851 2,287
Short-term liabilities 27,034 16,380 14,577 61,847
Equity and liabilities 140,942 141,447 148,276 188,068

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 4% 5% 5% -11%
Return on equity (ROE) 6% 7% 7% -20%
Return on capital employed (ROCE) 11% 10% 12% -37%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.09 0.08 0.08 0.53
Current Ratio 1.67 1.95 2.83 1.18
Quick ratio 1.52 1.68 2.67 1.06
Turnover ratios
Asset turnover 1.06 0.92 0.74 0.95
Fixed asset turnover 1.53 1.27 0.99 1.44
Equity turnover 1.49 1.33 1.03 1.66
Profitability ratios
EBITDA margin 11% 12% 16% -8%
Operating profit margin 3% 4% 5% -15%
Net profit margin 4% 5% 7% -12%
Other ratios
Dividends to the Municipality 4,972.00
Dividends paid / net profit 0.67

Financial statments

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 Municipal99.44%
https://chc.lt/lt
ROE

-19.6%

Number of employees

574

Financial data provided as at end-December 2021