EPSO-G

UAB EPSO-G is a state-owned group of energy transmission and exchange companies. It consists of the parent management company EPSO-G, five directly owned companies Litgrid, Amber Grid, Baltpool, Tetas, Energy Cells and the indirectly controlled GET Baltic. The Ministry of Energy of the Republic of Lithuania exercises the rights and duties of the sole shareholder of the management company EPSO-G.
The main activity of the EPSO-G Group is to ensure the uninterrupted, stable transmission of electricity through high-voltage networks and the transport of natural gas through high-pressure pipelines, as well as the efficient management, maintenance and development of these transmission systems. The Group’s companies also operate and develop biofuels, natural gas and timber trading platforms to ensure transparent competition in the energy and timber markets.

2022/23 GOOD CORPORATE GOVERNANCE INDEX

2021/22 GOOD CORPORATE GOVERNANCE INDEX

Sk – Transparency dimension
KO – Board dimension
SP – Strategic planning and target achievement dimension
GI – Good governance ratio

Financial results

	2020	2021	2022	2023
Revenue	270,520	362,603	589,924	478,887
Cost of goods sold	134,736	205,728	459,940	274,419
Gross profit (loss)	135,784	156,875	129,984	204,468
Gross profit margin	50%	43%	22%	43%
Operating expenses	95,322	112,382	176,685	167,589
Operating profit (loss)	40,462	44,493	-46,701	36,879
Operating profit margin	15%	12%	-8%	8%
EBITDA	74,893	79,565	-11,602	81,359
EBITDA margin	28%	22%	-2%	17%
Net profit (loss)	40,085	39,818	-42,515	53,801
Net profit margin	15%	11%	-7%	11%

	2021-06	2022-06	2023-06	2024-06
Revenue	150,866	230,218	221,073	246,414
Cost of goods sold	119,988	234,321	185,649	213,902
Gross profit (loss)	30,878	-4,103	35,424	32,512
Gross profit margin	20%	-2%	16%	13%
Operating expenses
Operating profit (loss)	30,878	-4,103	35,424	32,512
Operating profit margin	20%	-2%	16%	13%
EBITDA	48,175	13,453	52,526	55,236
EBITDA margin	32%	6%	24%	22%
Net profit (loss)	27,953	-4,514	31,463	30,352
Net profit margin	19%	-2%	14%	12%

* Left axis

** Right axis

*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

Annual
Semi-annual

	2020	2021	2022	2023
Non-current assets	635,287	651,787	706,479	756,172
Intangible assets	11,135	9,754	8,422	8,175
Tangible assets	574,227	603,103	655,721	707,229
Financial assets	1,089	781	13,960	17,853
Other non-current assets	48,836	38,149	28,376	22,915
Current assets	152,245	310,819	719,249	322,285
Inventories and prepaid expenses	5,191	18,997	16,211	7,556
Accounts receivable in one year	119,206	185,153	196,500	175,595
Other current assets	22,735	65,385	54,664	15,898
Cash and cash equivalents	5,113	41,284	248,096	123,236
Total assets	787,532	962,606	1,425,728	1,078,457
Equity	233,064	271,598	227,774	307,889
Grants and subsidies
Liabilities	548,270	685,336	990,500	755,830
Financial liabilities	351,974	261,793	217,985	186,627
Long-term liabilities	367,699	243,722	291,984	440,820
Short-term liabilities	180,571	441,614	698,516	315,010
Equity and liabilities	787,532	962,606	1,425,728	1,078,457

	2021-06	2022-06	2023-06	2024-06
Non-current assets	627,027	669,519	729,384	771,162
Intangible assets	10,476	9,010	9,546	7,062
Tangible assets	582,931	624,938	678,463	726,391
Financial assets	1,093	830	15,902	17,861
Other non-current assets	32,527	34,741	25,473	19,848
Current assets				7,175
Inventories and prepaid expenses	3,873	19,008	10,441	5,948
Accounts receivable in one year	116,969	145,854	114,797	157,041
Other current assets	16,408	56,242	227,473	39,345
Cash and cash equivalents	21,019	117,018	1,756	140,090
Total assets	785,296	1,007,641	1,083,851	1,120,761
Equity	259,852	265,773	258,608	336,543
Grants and subsidies
Liabilities	518,646	736,815	821,156	764,965
Financial liabilities	322,082	239,685	192,392	181,844
Long-term liabilities	363,461	346,267	359,464	475,753
Short-term liabilities	155,185	390,548	461,692	289,212
Equity and liabilities	785,296	1,007,641	1,083,851	1,120,761

* All data in Balance Sheet table and corresponding chart is in EUR thousand, unless otherwise noted

Financial ratios

Annual
Semi-annual

	2020	2021	2022	2023
Capital return ratios
Return on assets (ROA)	5%	5%	-4%	4%
Return on equity (ROE)	19%	16%	-17%	20%
Return on capital employed (ROCE)	7%	9%	-9%	5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.47	0.27	0.15	0.19
Current Ratio	0.84	0.70	1.03	1.02
Quick ratio	0.81	0.66	1.01	1.00
Turnover ratios
Asset turnover	0.34	0.38	0.41	0.44
Fixed asset turnover	0.43	0.56	0.84	0.63
Equity turnover	1.16	1.34	2.59	1.56
Profitability ratios
EBITDA margin	28%	22%	-2%	17%
Operating profit margin	15%	12%	-8%	8%
Net profit margin	15%	11%	-7%	11%
Other ratios
Dividends to the State	777.00	845.00	65.40	196.20
Dividends paid / net profit	0.02	0.02	0.00	0.00

* Left axis

** Right axis

*** Dividends to the state in Financial Ratios table is in EUR thousand

	2021-06	2022-06	2023-06	2024-06
Capital return ratios
Return on assets (ROA)	6%	1%	-1%	5%
Return on equity (ROE)	21%	3%	-2%	18%
Return on capital employed (ROCE)	5%	-1%	6%	4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.41	0.24	0.18	0.16
Current Ratio	1.02	0.87	0.77	1.18
Quick ratio	0.99	0.82	0.75	1.16
Turnover ratios
Asset turnover	0.19	0.23	0.20	0.22
Fixed asset turnover	0.24	0.34	0.30	0.32
Equity turnover	0.58	0.87	0.85	0.73
Profitability ratios
EBITDA margin	32%	6%	24%	22%
Operating profit margin	20%	-2%	16%	13%
Net profit margin	19%	-2%	14%	12%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2024 m. 6 mėn. tarpinės ataskaitos

2023 m. 6 mėn. tarpinės ataskaitos 2023 m. metinės ataskaitos

2022 m. 6 mėn. tarpinės ataskaitos 2022 m. metinės ataskaitos

2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos

2020 m. 6 mėn. tarpinės ataskaitos 2020 m. metinės ataskaitos

2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos

2018 m. metinės ataskaitos 2018 m. 6 mėn. tarpinės ataskaitos

2017 m. 6 mėn. tarpinės ataskaitos 2017 m. metinės ataskaitos

2016 m. metinės ataskaitos 2016 m. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės ataskaitos

2015 m. metinės ataskaitos 2015 m. 12 mėn. tarpinės ataskaitos 2015 m. 9 mėn. tarpinės ataskaitos 2015 m. 6 mėn. tarpinės ataskaitos 2015 m. 3 mėn. tarpinės ataskaitos

2014 m. metinės ataskaitos 2014 m. 12 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos

2012 m. metinės ataskaitos

2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos

Expectations of the state

Key performance indicator

Letter of Expectations

About the company

Official nameUAB „EPSO-G“
Legal formPrivate limited liability company (UAB)
Company code302826889
SectorEnergy
Line of businessGroup of energy enterprises
Institution representing the StateMinistry of Energy
Special obligationsPerformes non-commercial special obligations
Share belonging to the State100%
Contacts http://www.epsog.lt

Return to the State

196 EUR thousand

ROE

20.1%

Number of employees

1,261

Financial data provided as at end-December 2023

Management

Mindaugas KeizerisChief Executive Officer

Information as of: 2024/12/02

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

Robertas VyšniauskasIndependent member; AB KN Energies; UAB Valstybės investicinis kapitalas; Vilnius University; UAB Vilniaus vystymo kompanija

MEMBERS OF THE BOARD OF DIRECTORS

Dainius BražiūnasMinistry of Energy; Koturnos

Rasa BalevičienėNium

Liudas LiutkevičiusIndependent member; UAB REFI Energy; UAB INVL Asset Management; AB „Via Lietuva“

Tomas DaukantasMinistry of Energy