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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

2021 2022
Revenue 93
Cost of goods sold
Gross profit (loss) 93
Gross profit margin % 100%
Operating expenses 354 645
Operating profit (loss) -354 -552
Operating profit margin % -593%
EBITDA -334 -464
EBITDA margin % -499%
Net profit (loss) -305 -454
Net profit margin % -488%

Balance sheet

2021 2022
Non-current assets 9,296 11,006
Intangible assets 7 9
Tangible assets 9,134 10,664
Financial assets
Other non-current assets 156 333
Biological assets
Current assets 882 28,394
Inventories and prepaid expenses 4 59
Accounts receivable in one year 12 25,708
Other current assets
Cash and cash equivalents 866 2,627
Total assets 10,178 39,399
Equity 2,070 1,561
Minority share of capital
Grants and subsidies
Liabilities 8,108 37,839
Financial liabilities 7,913 5,548
Long-term liabilities 75 181
Short-term liabilities 8,033 37,658
Equity and liabilities 10,178 39,399

Financial ratios

2021 2022
Capital return ratios
Return on assets (ROA) -6% -2%
Return on equity (ROE) -30% -25%
Return on capital employed (ROCE) -33% -57%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 3.82 3.55
Current Ratio 0.11 0.75
Quick ratio 0.11 0.75
Turnover ratios
Asset turnover 0.00
Fixed asset turnover 0.01
Equity turnover 0.05
Profitability ratios
EBITDA margin % -499%
Operating profit margin % -593%
Net profit margin % -488%
Other ratios
Dividends to the State
Dividends paid / net profit

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#
ROE

%

Number of employees

44

Financial data provided as at end-December 2022

Management

  • Rimvydas ŠtilinisChief Executive Officer

Information as of: 2024/06/03

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: 2024/06/03