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Valdymo koordinavimo centras Governance Coordination Centre

Indirectly Owned State Enterprises

Amber Grid is the operator of the Lithuanian gas transmission system, operating a 2,300 km long network of trunkline gas pipelines, managing 68 gas distribution and metering stations and two gas compressor stations. Amber Grid’s system is interconnected with gas transmission systems in four countries and the Klaipėda LNG terminal. The system serves as a regional corridor for gas transmission northwards to Latvia and southwards to Poland. After the implementation of the strategic energy project GIPL, in 2022 the gas transmission systems of Poland and Lithuania, as well as the Baltic States and Finland, were connected to the European Union.. In order to achieve the goals of decarbonisation of the gas sector, the company is active in analysing the opportunities and creating the conditions for adapting the Lithuanian gas transmission system to transport green gas (including hydrogen). Amber Grid’s shares are listed on the Baltic Secondary List of the Nasdaq Vilnius Stock Exchange. Amber Grid is majority-owned by EPSO-G, which 100% of shares are owned by the Ministry of Energy of the Republic of Lithuania.

Financial results

P/L Statment

2018 2019 2020 2021
Revenue 54,563 55,619 52,286 68,595
Cost of goods sold 10,417 40,544 37,337 45,381
Gross profit (loss) 44,146 15,075 14,949 23,214
Gross profit margin 81% 27% 29% 34%
Operating expenses 69,849
Operating profit (loss) -25,703 15,075 14,949 23,214
Operating profit margin -47% 27% 29% 34%
EBITDA -12,984 25,234 26,075 35,271
EBITDA margin -24% 45% 50% 51%
Net profit (loss) -21,608 12,572 18,170 23,211
Net profit margin -40% 23% 35% 34%
Revenue
Cost of goods sold
Gross profit (loss)
Gross profit margin
Operating expenses
Operating profit (loss)
Operating profit margin
EBITDA
EBITDA margin
Net profit (loss)
Net profit margin

Balance sheet

2018 2019 2020 2021
Non-current assets 206,885 209,557 255,757 272,087
Intangible assets 2,699 2,910 4,833 4,742
Tangible assets 200,031 201,362 241,624 255,984
Financial assets 998 4 4 4
Other non-current assets 3,157 5,281 9,296 11,357
Biological assets
Current assets 38,820 46,783 58,965 106,700
Inventories and prepaid expenses 4,698 2,651 2,626 8,818
Accounts receivable in one year 23,450 43,899 55,572 96,976
Other current assets 10,630
Cash and cash equivalents 42 233 767 906
Total assets 245,705 256,340 316,371 380,214
Equity 131,242 136,660 154,830 178,040
Minority share of capital
Grants and subsidies
Liabilities 114,463 119,680 159,942 200,618
Financial liabilities 80,124 73,818 10,215 7,210
Long-term liabilities 55,805 55,446 103,518 94,885
Short-term liabilities 58,658 64,234 53,773 104,262
Equity and liabilities 245,705 256,340 316,371 380,214
Non-current assets
Intangible assets
Tangible assets
Financial assets
Other non-current assets
Current assets
Inventories and prepaid expenses
Accounts receivable in one year
Other current assets
Cash and cash equivalents
Total assets
Equity
Grants and subsidies
Liabilities
Financial liabilities
Long-term liabilities
Short-term liabilities
Equity and liabilities

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) -8% 5% 6% 7%
Return on equity (ROE) -14% 9% 12% 14%
Return on capital employed (ROCE) -27% 16% 11% 17%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.61 0.54 0.07 0.04
Current Ratio 0.66 0.73 1.10 1.02
Quick ratio 0.58 0.69 1.05 0.94
Turnover ratios
Asset turnover 0.21 0.22 0.18 0.20
Fixed asset turnover 0.24 0.27 0.22 0.26
Equity turnover 0.36 0.42 0.36 0.41
Profitability ratios
EBITDA margin -24% 45% 50% 51%
Operating profit margin -47% 27% 29% 34%
Net profit margin -40% 23% 35% 34%
Other ratios
Dividends to the State 5,049.28
Dividends paid / net profit -0.23
Capital return ratios
Return on assets (ROA)
Return on equity (ROE)
Return on capital employed (ROCE)
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio
Quick ratio
Turnover ratios
Asset turnover
Fixed asset turnover
Equity turnover
Profitability ratios
EBITDA margin
Operating profit margin
Net profit margin
Other ratios
Dividends to the State
Dividends paid / net profit

About the company

  • Official nameAB „Amber Grid“
  • Legal formPublic limited liability company (AB)
  • Company code303090867
  • SectorEnergy
  • Line of businessOperator of the natural gas transportation system
  • Accountability„EPSO-G“ group of companies
  • Share indirectly belonging to the State96.6%
https://www.ambergrid.lt/
ROE

13.9%

Number of employees

332

Financial data provided as at end-December 2021

Management

  • Nemunas BikniusChief Executive Officer

Information as of: 2023/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Dalius Svetulevičius UAB EPSO-G

MEMBERS OF THE BOARD OF DIRECTORS

  • Sigitas ŽutautasIndependent member
  • Karolis ŠvaikauskasMinistry of Energy
  • Ignas DegutisIndependent member

Information as of: 2023/05/01