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Valdymo koordinavimo centras Governance Coordination Centre

Indirectly Owned State Enterprises

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%
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: 2024/10/01

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: 2024/10/01