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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

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

P/L Statment

2019 2020 2021 2022
Revenue 250,985 270,520 362,603 589,924
Cost of goods sold 146,282 134,736 205,728 459,940
Gross profit (loss) 104,703 135,784 156,875 129,984
Gross profit margin 42% 50% 43% 22%
Operating expenses
Operating profit (loss) 15,775 40,462 44,493 -46,701
Operating profit margin 6% 15% 12% -8%
EBITDA 47,616 74,893 79,565 -11,602
EBITDA margin 19% 28% 22% -2%
Net profit (loss) 11,403 40,085 39,818 -42,515
Net profit margin 5% 15% 11% -7%
2020-06 2021-06 2022-06 2023-06
Revenue 132,446 150,866 230,218 221,073
Cost of goods sold 66,681 119,988 234,321 185,649
Gross profit (loss) 65,765 30,878 -4,103 35,424
Gross profit margin 50% 20% -2% 16%
Operating expenses 45,947 0 0 0
Operating profit (loss) 19,818 30,878 -4,103 35,424
Operating profit margin 15% 20% -2% 16%
EBITDA 35,905 48,175 13,453 52,526
EBITDA margin 27% 32% 6% 24%
Net profit (loss) 19,580 27,953 -4,514 31,463
Net profit margin 15% 19% -2% 14%

* Left axis

** Right axis

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

Balance sheet

2019 2020 2021 2022
Non-current assets 565,052 635,287 651,787 706,479
Intangible assets 7,910 11,135 9,754 8,422
Tangible assets 525,899 574,227 603,103 655,721
Financial assets 1,984 1,089 781 13,960
Other non-current assets 29,259 48,836 38,149 28,376
Current assets 154,494 152,245 310,819 719,249
Inventories and prepaid expenses 2,695 5,191 18,997 16,211
Accounts receivable in one year 93,192 119,206 185,153 196,500
Other current assets 45,124 22,735 65,385 54,664
Cash and cash equivalents 13,470 5,113 41,284 248,096
Total assets 719,546 787,532 962,606 1,425,728
Equity 193,961 233,064 271,598 227,774
Grants and subsidies
Liabilities 522,904 548,270 685,336 990,500
Financial liabilities 330,124 351,974 261,793 217,985
Long-term liabilities 330,729 367,699 243,722 291,984
Short-term liabilities 192,175 180,571 441,614 698,516
Equity and liabilities 719,546 787,532 962,606 1,425,728
2020-06 2021-06 2022-06 2023-06
Non-current assets 599,363 627,027 669,519 729,384
Intangible assets 7,144 10,476 9,010 9,546
Tangible assets 549,256 582,931 624,938 678,463
Financial assets 16,997 1,093 830 15,902
Other non-current assets 25,966 32,527 34,741 25,473
Current assets 108,348 158,269 338,122 354,467
Inventories and prepaid expenses 2,326 3,873 19,008 10,441
Accounts receivable in one year 104,215 116,969 145,854 114,797
Other current assets 0 16,408 56,242 227,473
Cash and cash equivalents 1,807 21,019 117,018 1,756
Total assets 707,711 785,296 1,007,641 1,083,851
Equity 212,533 259,852 265,773 258,608
Grants and subsidies 0
Liabilities 495,178 518,646 736,815 821,156
Financial liabilities 172,687 322,082 239,685 192,586
Long-term liabilities 333,818 363,461 346,267 359,464
Short-term liabilities 161,360 155,185 390,548 461,692
Equity and liabilities 707,711 785,296 1,007,641 1,083,851

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

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 2% 5% 5% -4%
Return on equity (ROE) 6% 19% 16% -17%
Return on capital employed (ROCE) 3% 7% 9% -9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.46 0.47 0.27 0.15
Current Ratio 0.80 0.84 0.70 1.03
Quick ratio 0.79 0.81 0.66 1.01
Turnover ratios
Asset turnover 0.35 0.34 0.38 0.41
Fixed asset turnover 0.44 0.43 0.56 0.84
Equity turnover 1.29 1.16 1.34 2.59
Profitability ratios
EBITDA margin 19% 28% 22% -2%
Operating profit margin 6% 15% 12% -8%
Net profit margin 5% 15% 11% -7%
Other ratios
Dividends to the State 773.00 777.00 845.00 65.40
Dividends paid / net profit 0.07 0.02 0.02 0.00

* Left axis

** Right axis

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

2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 4% 6% 1% -1%
Return on equity (ROE) 12% 21% 3% -2%
Return on capital employed (ROCE) 4% 5% -1% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.24 0.41 0.24 0.18
Current Ratio 0.67 1.02 0.87 0.77
Quick ratio 0.66 0.99 0.82 0.75
Turnover ratios
Asset turnover 0.19 0.19 0.23 0.20
Fixed asset turnover 0.22 0.24 0.34 0.30
Equity turnover 0.62 0.58 0.87 0.85
Profitability ratios
EBITDA margin 27% 32% 6% 24%
Operating profit margin 15% 20% -2% 16%
Net profit margin 15% 19% -2% 14%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

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%
http://www.epsog.lt
Return to the State

65 EUR thousand

ROE

-17.0%

Number of employees

1,271

Financial data provided as at end-December 2022

Management

  • Mindaugas KeizerisChief Executive Officer

Information as of: 2024/04/02

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
  • Liudas LiutkevičiusIndependent member; UAB REFI Energy; UAB INVL Asset Management
  • Tomas DaukantasMinistry of Energy

Information as of: 2024/04/02