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
P/L Statment
| 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 |
Balance sheet
| 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 |
Financial ratios
| 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 |
| 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%
ROE
-98.0%
Number of employees
362
Financial data provided as at end-December 2023
Management
- Artūras BortkevičiusChief Executive Officer
Information as of: 2024/06/03
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
Information as of: 2024/06/03
