ENERGY CELLS
Energy cells, UAB is a special purpose wholly-owned subsidiary of EPSO-G, registered in the Register of Legal Entities on 26 January 2021. According to the approved project concept in the interest of national security, the function of Energy Cells is to install energy storage facilities with a total combined capacity of at least 200 megawatts. These facilities will serve as a primary reserve to ensure the reliable, stable and consumer-friendly operation of Lithuania’s electricity system until synchronisation with the continental European grid and, in the future, for the integration of rapidly growing renewable energy sources.
Financial results
P/L Statment
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Revenue | 93 | 2,717 | ||
| Cost of goods sold | 488 | |||
| Gross profit (loss) | 0 | 0 | 93 | 2,229 |
| Gross profit margin | % | % | 100% | 82% |
| Operating expenses | 0 | 354 | 645 | 1,745 |
| Operating profit (loss) | 0 | -354 | -552 | 483 |
| Operating profit margin | % | % | -593% | 18% |
| EBITDA | 0 | -334 | -518 | 809 |
| EBITDA margin | % | % | -557% | 30% |
| Net profit (loss) | 0 | -305 | -509 | 143 |
| Net profit margin | % | % | -547% | 5% |
Balance sheet
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Non-current assets | 0 | 9,296 | 11,006 | 16,497 |
| Intangible assets | 7 | 9 | 267 | |
| Tangible assets | 9,134 | 10,664 | 15,954 | |
| Financial assets | ||||
| Other non-current assets | 156 | 333 | 275 | |
| Current assets | 0 | 882 | 28,394 | 13,319 |
| Inventories and prepaid expenses | 4 | 59 | 71 | |
| Accounts receivable in one year | 12 | 25,708 | 11,836 | |
| Other current assets | ||||
| Cash and cash equivalents | 866 | 2,627 | 1,411 | |
| Total assets | 0 | 10,178 | 39,399 | 29,816 |
| Equity | 0 | 2,070 | 1,561 | 1,704 |
| Grants and subsidies | ||||
| Liabilities | 0 | 8,108 | 37,839 | 28,111 |
| Financial liabilities | 0 | 102 | 221 | 181 |
| Long-term liabilities | 75 | 181 | 141 | |
| Short-term liabilities | 8,033 | 37,658 | 27,970 | |
| Equity and liabilities | 0 | 10,178 | 39,399 | 29,816 |
Financial ratios
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | % | -6% | -2% | 0% |
| Return on equity (ROE) | % | -30% | -28% | 9% |
| Return on capital employed (ROCE) | % | -17% | -32% | 26% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | ||||
| Current Ratio | 0.11 | 0.75 | 0.48 | |
| Quick ratio | 0.11 | 0.75 | 0.47 | |
| Turnover ratios | ||||
| Asset turnover | 0.00 | 0.00 | 0.09 | |
| Fixed asset turnover | 0.00 | 0.01 | 0.16 | |
| Equity turnover | 0.00 | 0.06 | 1.59 | |
| Profitability ratios | ||||
| EBITDA margin | % | % | -557% | 30% |
| Operating profit margin | % | % | -593% | 18% |
| Net profit margin | % | % | -547% | 5% |
| Other ratios | ||||
| Dividends to the State | 0.00 | 0.00 | 0.00 | 116.44 |
| Dividends paid / net profit | 0.00 | 0.00 | 0.81 |
About the company
- Official nameUAB ENERGY CELLS
- Legal formPrivate limited liability company (UAB)
- Company code305689545
- SectorEnergy
- Line of businessInstalls energy storage devices
- Accountability„EPSO-G“ group of companies
- Share indirectly belonging to the State100%
- Contacts https://www.epsog.lt/lt/apie-mus/epso-g-grupe#
Return to the State
116 EUR thousand
ROE
8.8%
Number of employees
19
Financial data provided as at end-December 2023
Management
- Rimvydas ŠtilinisChief Executive Officer
Information as of: 2024/12/02
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Paulius ButkusUAB EPSO-G; AB Amber Grid
MEMBERS OF THE BOARD OF DIRECTORS
- Dovilė KapačinskaitėMinistry of Energy
- Darius KlimašauskasIndependent member; UAB Talismanai; UAB Geltono kranto kelias
Information as of: 2024/12/02
