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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

At the end of September 2012, AB Litgrid, a member of the Visaginas Nuclear Power Plant (VAE) group of companies, was transferred to a newly established state-owned company EPSO-G, which implement the EU Third Energy Package, requiring separation of energy transmission activities from electricity generation and supply activities. May 21, 2014 UAB EPSO-G redeemed 38,9 per cent of Amber Grid shares from the German concern E.ON Ruhrgas International GmbH for EUR 49.8 million. (LTL 171.8 million) . On June 19 UAB EPSO-G redeemed 39.96 per cent of companies shares for EUR 54.3 million EUR  (LTL 187.6 million)  from Russian company Gazprom and minority shareholders. Following these transactions, UAB EPSO-G owns 96.58 percent of the Amber Grid shares. The main activity of UAB EPSO-G is stable supply of electricity with high voltage networks and transportation of natural gas by high pressure pipelines.

 

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 225,246 245,833 250,985 270,520
Cost of goods sold 88,028 129,411 146,282 134,736
Gross profit (loss) 137,218 116,422 104,703 135,784
Gross profit margin 61% 47% 42% 50%
Operating expenses 137,579 188,760 88,928 95,322
Operating profit (loss) -361 -72,338 15,775 40,462
Operating profit margin -0% -29% 6% 15%
EBITDA 40,465 -33,788 47,616 74,893
EBITDA margin 18% -14% 19% 28%
Net profit (loss) -2,796 -47,720 11,403 40,085
Net profit margin -1% -19% 5% 15%
2018-06 2019-06 2020-06 2021-06
Revenue 118,910 124,107 132,446 150,866
Cost of goods sold 61,098 73,598 66,681 70,249
Gross profit (loss) 57,812 50,509 65,765 80,617
Gross profit margin % % 41% 53%
Operating expenses 46,606 41,819 45,947 49,739
Operating profit (loss) 11,206 8,690 19,818 30,878
Operating profit margin % % 7% 20%
EBITDA 24,420 48,175
EBITDA margin % % 20% 32%
Net profit (loss) 8,597 6,304 19,580 27,953
Net profit margin % % 5% 19%

Balance sheet

2017 2018 2019 2020
Non-current assets 629,559 540,535 565,052 635,287
Intangible assets 4,674 8,867 7,910 11,135
Tangible assets 620,438 509,821 525,899 574,227
Financial assets 3,368 2,693 1,984 1,089
Other non-current assets 1,079 19,154 29,259 48,836
Current assets 140,897 144,128 154,494 152,245
Inventories and prepaid expenses 3,654 4,763 2,695 5,191
Accounts receivable in one year 115,285 95,948 93,192 119,206
Other current assets 13,853 33,485 45,124 22,735
Cash and cash equivalents 8,075 9,913 13,470 5,113
Total assets 770,456 684,663 719,546 787,532
Equity 236,247 183,873 193,961 233,064
Grants and subsidies 22
Liabilities 534,187 500,790 525,585 554,468
Financial liabilities 424,203 353,649 330,124 371,993
Long-term liabilities 362,851 325,001 330,729 367,699
Short-term liabilities 171,336 175,789 192,175 180,571
Equity and liabilities 770,456 684,663 719,546 787,532
2019-06 2020-06 2021-06
Non-current assets 542,474 599,363 627,027
Intangible assets 9,052 7,144 10,476
Tangible assets 511,883 549,256 582,931
Financial assets 9,853 16,997 1,093
Other non-current assets 11,686 25,966 32,527
Current assets 142,118 108,348 158,269
Inventories and prepaid expenses 2,726 2,326 3,873
Accounts receivable in one year 116,671 104,215 116,969
Other current assets 16,408
Cash and cash equivalents 22,721 1,807 21,019
Total assets 684,611 707,711 785,296
Equity 189,211 212,533 259,852
Grants and subsidies
Liabilities 473,335 495,178 525,444
Financial liabilities 298,976 149,728 296,300
Long-term liabilities 308,321 333,818 363,461
Short-term liabilities 41,848 22,959 25,782
Equity and liabilities 684,611 707,711 785,296

Financial ratios

2017 2018 2019 2020
Capital return ratios
Return on assets (ROA) -0% -7% 2% 5%
Return on equity (ROE) -1% -23% 6% 19%
Return on capital employed (ROCE) -0% -28% 6% 14%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 1.80 1.92 1.70 1.60
Current Ratio 0.82 0.82 0.80 0.84
Quick ratio 0.80 0.79 0.79 0.81
Turnover ratios
Asset turnover 0.28 0.34 0.36 0.36
Fixed asset turnover 0.34 0.42 0.45 0.45
Equity turnover 0.95 1.17 1.33 1.27
Profitability ratios
EBITDA margin 18% -14% 19% 28%
Operating profit margin -0% -29% 6% 15%
Net profit margin -1% -19% 5% 15%
Other ratios
Dividends to the State 682.19 750.11 773.00 777.00
Dividends paid / net profit -0.24 -0.02 0.07 0.02
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) -0% % % 6%
Return on equity (ROE) -1% % % 21%
Return on capital employed (ROCE) -0% -5% 2% 8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 1.80 0.81 1.24
Current Ratio 0.82 3.40 4.72 6.14
Quick ratio 0.80 3.33 4.62 5.99
Turnover ratios
Asset turnover 0.28 0.36 0.19 0.20
Fixed asset turnover 0.34 0.46 0.23 0.25
Equity turnover 0.95 1.31 0.66 0.64
Profitability ratios
EBITDA margin 18% % 20% 32%
Operating profit margin -0% % 7% 20%
Net profit margin -1% % 5% 19%
Other ratios
Dividends to the State 682.19
Dividends paid / net profit -0.24

Expectations of the state

Target return on equity

5.7%

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

777 EUR thousand

ROE

18.8%

Number of employees

1,081

Financial data provided as at end-December 2020

Management

  • Rolandas ZukasDirector General

Information as of: 2021/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Gediminas AlmantasOpen Lithuania Foundation; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Dainius BražiūnasMinistry of Energy
  • Gediminas KaraliusMinistry of Energy
  • Robertas VyšniauskasIndependent member
  • Tomas TumėnasUAB Limedika; Independent member

Information as of: 2021/10/01