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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

2019 2020 2021 2022
Revenue 55,619 52,286 66,973 96,652
Cost of goods sold 40,544 37,337 44,448 78,541
Gross profit (loss) 15,075 14,949 22,525 18,111
Gross profit margin 27% 29% 34% 19%
Operating expenses
Operating profit (loss) 15,075 14,949 22,525 18,111
Operating profit margin 27% 29% 34% 19%
EBITDA 25,234 26,075 34,407 30,988
EBITDA margin 45% 50% 51% 32%
Net profit (loss) 12,572 18,170 23,164 15,743
Net profit margin 23% 35% 35% 16%
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

2019 2020 2021 2022
Non-current assets 209,557 255,757 272,202 292,179
Intangible assets 2,910 4,833 4,210 2,584
Tangible assets 201,362 241,624 255,978 281,089
Financial assets 4 4
Other non-current assets 5,281 9,296 12,014 8,506
Biological assets
Current assets 46,783 58,965 44,891 49,525
Inventories and prepaid expenses 2,651 2,626 8,140 12,872
Accounts receivable in one year 43,899 55,572 35,434 35,440
Other current assets
Cash and cash equivalents 233 767 1,317 444
Total assets 256,340 316,371 318,520 345,347
Equity 136,660 154,830 177,573 183,392
Minority share of capital
Grants and subsidies
Liabilities 119,680 159,942 139,215 160,134
Financial liabilities 73,818 10,215 108,661 104,476
Long-term liabilities 55,446 103,518 96,107 77,779
Short-term liabilities 64,234 53,773 41,637 81,357
Equity and liabilities 256,340 316,371 318,520 345,347
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

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 4% 6% 7% 5%
Return on equity (ROE) 8% 12% 14% 9%
Return on capital employed (ROCE) 16% 11% 16% 14%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.54 0.07 0.61 0.57
Current Ratio 0.73 1.10 1.08 0.61
Quick ratio 0.69 1.05 0.88 0.45
Turnover ratios
Asset turnover 0.43 0.18 0.21 0.29
Fixed asset turnover 0.53 0.22 0.25 0.34
Equity turnover 0.81 0.36 0.40 0.54
Profitability ratios
EBITDA margin 45% 50% 51% 32%
Operating profit margin 27% 29% 34% 19%
Net profit margin 23% 35% 35% 16%
Other ratios
Dividends to the State 9,563.40 11,648.99
Dividends paid / net profit 0.41 0.74
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/
Return to the State

11.6 EUR milion

ROE

8.7%

Number of employees

332

Financial data provided as at end-December 2022

Management

  • Nemunas BikniusChief Executive Officer

Information as of: 2/1/2024

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Dalius Svetulevičius UAB EPSO-G

MEMBERS OF THE BOARD OF DIRECTORS

  • Sigitas ŽutautasIndependent member; Vilnius University
  • Karolis ŠvaikauskasMinistry of Energy; AB Klaipėdos nafta
  • Ignas DegutisIndependent member; RB Rail AS; AB Grigeo
  • Paulius ButkusUAB EPSO-G; UAB Energy cells

Information as of: 2/1/2024