Ignitis

A limited liability company Ignitis is the largest electricity and gas supplier in Lithuania, providing all essential energy services to our country’s residents and business customers. Ignitis has been operating in Latvia and Estonia since 2013, in Poland since 2017 and in Finland since 2021. Date of company establishment and register: 14 September 2014.

Financial results

	2020	2021	2022	2023
Revenue	506,340	876,832	2,968,541	1,382,022
Cost of goods sold	408,684	838,347	2,846,501	1,465,872
Gross profit (loss)	97,656	38,485	122,040	-83,850
Gross profit margin	19%	4%	4%	-6%
Operating expenses	48,514	0	0	0
Operating profit (loss)	49,142	10,716	82,430	-116,118
Operating profit margin	10%	1%	3%	-8%
EBITDA	67,613	13,498	85,614	-112,039
EBITDA margin	13%	2%	3%	-8%
Net profit (loss)	42,073	5,961	51,584	-106,815
Net profit margin	8%	1%	2%	-8%


Revenue
Cost of goods sold
Gross profit (loss)
Gross profit margin
Operating expenses
Operating profit (loss)
Operating profit margin
EBITDA
EBITDA margin
Net profit (loss)
Net profit margin

* Left axis

** Right axis

*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

Annual
Semi-annual

	2020	2021	2022	2023
Non-current assets	50,981	78,691	109,914	159,296
Intangible assets	18,922	18,423	18,821	18,301
Tangible assets	2,782	3,433	4,388	15,533
Financial assets	11,851	44,180	42,936	50,606
Other non-current assets	17,426	12,655	43,769	74,856
Current assets	168,405	596,169	1,186,287	335,392
Inventories and prepaid expenses	28,577	207,525	315,076	67,834
Accounts receivable in one year	116,537	315,691	592,729	209,511
Other current assets	0	0	0	0
Cash and cash equivalents	23,291	72,953	278,482	58,047
Total assets	224,449	814,276	1,338,680	506,283
Equity	82,427	71,079	160,517	57,406
Grants and subsidies	0	0	0	0
Liabilities	117,380	695,085	1,086,555	327,010
Financial liabilities	39,036	392,901	371,088	12,437
Long-term liabilities	39,594	290,186	397,695	24,884
Short-term liabilities	77,786	404,899	688,860	302,126
Equity and liabilities	224,449	814,276	1,338,680	506,283


Non-current assets
Intangible assets
Tangible assets
Financial assets
Other non-current assets
Current assets
Inventories and prepaid expenses
Accounts receivable in one year
Other current assets
Cash and cash equivalents
Total assets
Equity
Grants and subsidies
Liabilities
Financial liabilities
Long-term liabilities
Short-term liabilities
Equity and liabilities

* All data in Balance Sheet table and corresponding chart is in EUR thousand, unless otherwise noted

Financial ratios

Annual
Semi-annual

	2020	2021	2022	2023
Capital return ratios
Return on assets (ROA)	19%	3%	7%	-12%
Return on equity (ROE)	51%	9%	50%	-98%
Return on capital employed (ROCE)	40%	3%	15%	-141%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio	2.16	1.47	1.72	1.11
Quick ratio	1.80	0.96	1.26	0.89
Turnover ratios
Asset turnover	2.26	6.45	2.22	2.73
Fixed asset turnover	9.93	11.14	27.01	8.68
Equity turnover	6.14	18.65	18.49	24.07
Profitability ratios
EBITDA margin	13%	2%	3%	-8%
Operating profit margin	10%	1%	3%	-8%
Net profit margin	8%	1%	2%	-8%
Other ratios
Dividends to the State	0.00	0.00	20,000.00	0.00
Dividends paid / net profit	0.00	0.00	0.39	0.00

* Left axis

** Right axis

*** Dividends to the state in Financial Ratios table is in EUR thousand


Capital return ratios
Return on assets (ROA)
Return on equity (ROE)
Return on capital employed (ROCE)
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio
Quick ratio
Turnover ratios
Asset turnover
Fixed asset turnover
Equity turnover
Profitability ratios
EBITDA margin
Operating profit margin
Net profit margin
Other ratios
Dividends to the State
Dividends paid / net profit

About the company

Official nameUAB „Ignitis“
Legal formPrivate limited liability company (UAB)
Company code303383884
SectorEnergy
Line of businessNatural gas import, electricity and natural gas sales to customers
Accountability„Ignitis grupė“ group of companies
Share indirectly belonging to the State100%
Contacts https://ignitis.lt/

ROE

-98.0%

Number of employees

362

Financial data provided as at end-December 2023

Management

Artūras BortkevičiusChief Executive Officer

Information as of: 2024/12/02

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

Vidmantas SalietisAB Ignitis grupė; AB Ignitis gamyba; UAB Ignitis renewables

MEMBERS OF THE BOARD OF DIRECTORS

Mantas MikalajūnasAB Ignitis grupė; AB Ignitis gamyba; UAB Vilniaus kogeneracinė jėgainė; UAB Kauno kogeneracinė jėgainė

Paulius DambrauskasIndependent member; UAB AL holdingas; UAB Šat investicijos

Roger HunterIndependent member; Royal Dutch Shell plc

Toma SasnauskienėMinistry of Finance