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Valdymo koordinavimo centras

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

2016 2017 2018 2019
Revenue 234,522 225,246 245,833 250,985
Cost of goods sold 87,795 88,028 129,411 146,282
Gross profit (loss) 146,727 137,218 116,422 104,703
Gross profit margin 63% 61% 47% 42%
Operating expenses 101,844 137,579 188,760 88,928
Operating profit (loss) 44,883 -361 -72,338 15,775
Operating profit margin 19% -0% -29% 6%
EBITDA 87,415 40,465 -33,788 47,442
EBITDA margin 37% 18% -14% 19%
Net profit (loss) 39,074 -2,796 -47,720 11,403
Net profit margin 17% -1% -19% 5%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 111,075 118,910 124,107 132,446
Cost of goods sold 42,209 61,098 73,598 66,681
Gross profit (loss) 68,866 57,812 50,509 65,765
Gross profit margin 62% 49% 41% 50%
Operating expenses 49,288 46,606 41,819 45,947
Operating profit (loss) 19,578 11,206 8,690 19,818
Operating profit margin 18% 9% 7% 15%
EBITDA 38,749 31,636 24,420 35,905
EBITDA margin 35% 27% 20% 27%
Net profit (loss) 3,430 1,366 6,304 19,580
Net profit margin 13% 7% 5% 15%

Balance sheet

2016 2017 2018 2019
Non-current assets 689,321 629,559 540,535 565,052
Intangible assets 2,138 4,674 8,867 7,910
Tangible assets 683,715 620,438 509,821 525,899
Financial assets 3,368 3,368 2,693 1,984
Other non-current assets 100 1,079 19,154 29,259
Biological assets
Current assets 146,442 140,897 144,128 154,494
Inventories and prepaid expenses 5,709 3,654 4,763 4,181
Accounts receivable in one year 107,971 115,285 95,948 91,706
Other current assets 16,044 13,853 33,485 45,124
Cash and cash equivalents 16,718 8,075 9,913 13,470
Total assets 835,763 770,456 684,663 719,546
Equity 240,413 236,247 183,873 193,961
Minority share of capital 13,509 12,241 9,574 9,727
Grants and subsidies 38 22
Liabilities 585,811 534,187 500,790 525,585
Financial liabilities 484,956 424,203 353,649 321,179
Long-term liabilities 416,403 362,851 325,001 332,097
Short-term liabilities 168,830 171,336 175,789 193,488
Equity and liabilities 835,763 770,456 684,663 719,546
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 936,054 618,924 542,474 599,363
Intangible assets 4,318 4,663 9,052 7,144
Tangible assets 928,337 609,758 511,883 549,256
Financial assets 3,368 4,366 9,853 16,997
Other non-current assets 31 137 11,686 25,966
Biological assets
Current assets 117,112 139,000 142,118 108,348
Inventories and prepaid expenses 5,283 4,740 2,726 2,326
Accounts receivable in one year 98,112 94,054 116,671 104,215
Other current assets 12,669 18,167
Cash and cash equivalents 1,048 22,039 22,721 1,807
Total assets 1,053,195 757,957 684,611 707,711
Equity 253,363 243,221 189,211 212,533
Minority share of capital 12,813 11,638 9,627 10,342
Grants and subsidies 257,664
Liabilities 542,168 514,736 473,335 495,178
Financial liabilities 207,938 195,852 340,824 142,401
Long-term liabilities 388,242 349,930 308,321 333,818
Short-term liabilities 153,926 164,806 165,014 161,360
Equity and liabilities 1,053,195 757,957 684,611 707,711

Financial ratios

2016 2017 2018 2019
Capital return ratios
Return on assets (ROA) 4% -0% -7% 2%
Return on equity (ROE) 18% -1% -23% 6%
Return on capital employed (ROCE) 13% -0% -28% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 1.16 1.80 1.92 1.66
Current Ratio 0.87 0.82 0.82 0.80
Quick ratio 0.83 0.80 0.79 0.78
Turnover ratios
Asset turnover 0.24 0.28 0.34 0.36
Fixed asset turnover 0.29 0.34 0.42 0.45
Equity turnover 1.06 0.95 1.17 1.33
Profitability ratios
EBITDA margin 37% 18% -14% 19%
Operating profit margin 19% -0% -29% 6%
Net profit margin 17% -1% -19% 5%
Other ratios
Dividends to the State 508.00 682.19 750.11 773.00
Dividends paid / net profit 0.01 -0.24 -0.02 0.07
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) -0% 2% -7% 4%
Return on equity (ROE) -1% 8% -23% 12%
Return on capital employed (ROCE) -0% 4% 3% 7%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 1.80 0.95 1.80 0.81
Current Ratio 0.82 0.84 0.86 0.67
Quick ratio 0.80 0.81 0.84 0.66
Turnover ratios
Asset turnover 0.28 0.13 0.17 0.19
Fixed asset turnover 0.34 0.15 0.21 0.23
Equity turnover 0.95 0.48 0.57 0.66
Profitability ratios
EBITDA margin 18% 27% 20% 27%
Operating profit margin -0% 9% 7% 15%
Net profit margin -1% 7% 5% 15%
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 obligationsVykdo nekomercinius specialiuosius įpareigojimus
  • Share belonging to the State100%
http://www.epsog.lt
Return to the State

773 EUR thousand

ROE

6.0%

Number of employees

993

Financial data provided as at end-December 2019

Management

  • Rolandas ZukasDirector General

Information as of: 2020/10/01

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 TumėnasIndependent member

Information as of: 2020/10/01