Amber Grid
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%
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: 2024/04/02
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: 2024/04/02
