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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

The construction of the Ignalina Nuclear Power Plant (INPP) began in 1974. In fulfilling Lithuanias obligations under the Treaty of Accession to the European Union,2009 December 31 INPP has completely cut off electricity production. From the electricity producer it became a company that ceases its activity but operates a nuclear facility. From 2010 January 1 decommissioning became the main INPP activity. The main goal of the company is to terminate the operation of the nuclear power plant with RBMK reactors in a safe, timely and efficient manner.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Ignalina Nuclear Power Plant Decommissioning Budget Performance Index CPI:
    • 2022–2024 ≥ 1
  • Percentage of budget allocation for the Ignalina Program:
    • 2024 ≥ 70 percent.

TARGETED SPECIFIC INDICATORS FOR THE PERIOD

  • Amount of dismantled materials, thousand tons / year:
    • 2022 > 3,8
    • 2023 > 5,8
    • 2024 > 7,6
  • Amount of radioactive waste removed and disposed of from old storage facilities, m3:
    • 2022 ≥ 975
    • 2023 ≥ 785
    • 2024 ≥ 570
  • Number of knowledge products, units:
    • 2022-2024 ≥ 1
  • Project management maturity level:
    • 2022 m. – set the value
  • Number of first and higher level events according to the International Nuclear Event Scale (INES), units:
    • 2022-2024 – 0
  • Level of risk management maturity:
    • 2022 – set the value
  • Employee engagement index,%:
    • 2022-2024 > 50

          2020 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

2018 2019 2020 2021
Revenue 256 316 234 162
Cost of goods sold
Gross profit (loss) 256 316 234 162
Gross profit margin 100% 100% 100% 100%
Operating expenses 3,049 1,857 1,019 1,926
Operating profit (loss) -2,793 -1,541 -784 -1,763
Operating profit margin -1090% -488% -335% -1086%
EBITDA -1,626 -210 37 -448
EBITDA margin -635% -66% 16% -276%
Net profit (loss) -2,940 -1,042 -589 -1,102
Net profit margin -1147% -330% -251% -679%
2018-06 2019-06 2020-06 2021-06
Revenue 97 115 97 86
Cost of goods sold
Gross profit (loss) 97 115 97 86
Gross profit margin % % 100% 100%
Operating expenses 4,236 2,301 3,915 3,731
Operating profit (loss) -4,139 -2,186 -3,818 -3,645
Operating profit margin % % -1909% -4223%
EBITDA -1,905 -3,635
EBITDA margin % % -1664% -4212%
Net profit (loss) -3,942 -2,110 -3,634 -3,856
Net profit margin % % -1843% -4468%

Balance sheet

2018 2019 2020 2021
Non-current assets 303,382 291,898 243,375 208,307
Intangible assets 414 515 508 521
Tangible assets 287,392 259,783 221,273 193,727
Financial assets 15,283 31,313 21,324 13,815
Other non-current assets 293 287 271 244
Current assets 322,025 288,810 287,338 274,204
Inventories and prepaid expenses 66,282 51,929 37,651 21,527
Accounts receivable in one year 202,921 200,269 209,969 219,081
Other current assets 20,000 29,999 7,508
Cash and cash equivalents 52,822 16,613 9,718 26,088
Total assets 625,484 580,821 530,865 482,693
Equity 21,421 20,380 19,791 18,689
Grants and subsidies 521,374 480,972 438,029 395,276
Liabilities 82,674 79,442 72,925 68,603
Financial liabilities
Long-term liabilities
Short-term liabilities 10,353 7,994 7,876 9,144
Equity and liabilities 625,484 580,821 530,865 482,693
2019-06 2020-06 2021-06
Non-current assets 308,342 266,841 230,268
Intangible assets 341 406 550
Tangible assets 276,251 234,784 208,044
Financial assets 31,321 31,331 21,337
Other non-current assets 429 320 338
Current assets 280,354 266,452 261,914
Inventories and prepaid expenses 56,160 52,646 30,714
Accounts receivable in one year 193,331 182,486 205,009
Other current assets 20,000 20,000
Cash and cash equivalents 10,864 11,319 26,190
Total assets 588,935 533,431 492,583
Equity 19,310 16,745 15,935
Grants and subsidies 487,586 437,212 402,963
Liabilities 82,032 79,397 73,586
Financial liabilities
Long-term liabilities
Short-term liabilities
Equity and liabilities 588,935 533,431 492,583

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) -0% -0% -0% -0%
Return on equity (ROE) -13% -5% -3% -6%
Return on capital employed (ROCE) -1% -0% -0% -0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 31.11 36.13 36.48 29.99
Quick ratio 24.70 29.63 31.70 27.63
Turnover ratios
Asset turnover 0.00 0.00 0.00 0.00
Fixed asset turnover 0.00 0.00 0.00 0.00
Equity turnover 0.01 0.02 0.01 0.01
Profitability ratios
EBITDA margin -635% -66% 16% -276%
Operating profit margin -1090% -488% -335% -1086%
Net profit margin -1147% -330% -251% -679%
Other ratios
Dividends to the State
Dividends paid / net profit
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) -0% % % -0%
Return on equity (ROE) -3% % % -5%
Return on capital employed (ROCE) -0% -0% -1% -2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 30.43
Quick ratio 23.15
Turnover ratios
Asset turnover 0.00 0.00 0.00 0.00
Fixed asset turnover 0.00 0.00 0.00 0.00
Equity turnover 0.00 0.01 0.01 0.01
Profitability ratios
EBITDA margin -45% % -1664% -4212%
Operating profit margin -377% % -1909% -4223%
Net profit margin -812% % -1843% -4468%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity undefined

About the company

  • Official nameVĮ Ignalinos atominė elektrinė
  • Legal formState enterprise (VĮ)
  • Company code255450080
  • SectorEnergy
  • Line of businessShutdown of Ignalina nuclear power plant
  • Institution representing the StateMinistry of Energy
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://www.iae.lt/
ROE

-5.7%

Financial data provided as at end-December 2021

Management

  • Audrius KamienasDirector General

Information as of: 2022/09/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Darius JasinskisUAB FSQUARE; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Rimvydas ŠtilinisUAB Energy cells
  • Patricija CeikoMinistry of Energy
  • Laimonas BelickasUAB Orion Leasing; Independent member
  • Jurgita RadzevičėUAB SBA Home, Independent memeber

Information as of: 2022/09/01