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

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

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

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

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: 2025/05/02

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Robertas VyšniauskasIndependent member; AB KN Energies; 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“
  • Dovilė KavaliauskienėMinistry of Energy; AB KN Energies

Information as of: 2025/05/02

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