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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

          2021/22 GOOD CORPORATE GOVERNANCE INDEX       


        2020/21 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%
2019-06 2020-06 2021-06 2022-06
Revenue 115 97 86 49
Cost of goods sold
Gross profit (loss) 115 97 86 49
Gross profit margin % % % %
Operating expenses 2,301 3,915 3,731 7,845
Operating profit (loss) -2,186 -3,818 -3,645 -7,796
Operating profit margin % % % %
EBITDA -1,905 -3,432 -3,635 -8,327
EBITDA margin -1664% -3542% -4212% -16958%
Net profit (loss) -2,110 -3,634 -3,856 -8,618
Net profit margin -1843% -3751% -4468% -17551%

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
2020-06 2021-06 2022-06
Non-current assets 266,841 230,268 195,319
Intangible assets 406 550 412
Tangible assets 234,784 208,044 180,420
Financial assets 31,331 21,337 13,831
Other non-current assets 320 338 656
Current assets 266,452 261,914 239,941
Inventories and prepaid expenses 52,646 30,714 18,995
Accounts receivable in one year 182,486 205,009 210,954
Other current assets 20,000 3,003
Cash and cash equivalents 11,319 26,190 6,989
Total assets 533,431 492,583 435,624
Equity 16,745 15,935 10,071
Grants and subsidies 437,212 402,963 355,890
Liabilities 79,397 73,586 69,563
Financial liabilities
Long-term liabilities
Short-term liabilities 8,020 8,537 10,104
Equity and liabilities 533,431 492,583 435,624

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
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) -0% % -0% -1%
Return on equity (ROE) -5% % -4% -45%
Return on capital employed (ROCE) -0% -1% -2% -4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 36.13 33.23 30.68 23.75
Quick ratio 29.63 26.66 27.08 21.87
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 0.02 0.01 0.01 0.00
Profitability ratios
EBITDA margin -66% -3542% -4212% -16958%
Operating profit margin -488% % % %
Net profit margin -330% -3751% -4468% -17551%
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

-45.1%

Number of employees

1,732

Financial data provided as at end-December 2021

Management

  • Audrius KamienasDirector General

Information as of: 2023/01/01

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
  • Dr. Jurgita RadzevičėUAB SBA Home, Independent memeber

Information as of: 2023/01/01