Ignitis gamyba
Ignitis Gamyba (formerly Lietuvos energijos gamyba) owns and develops strategically important power generation capacities in Lithuania – the Kruonis Hydroelectric Power Plant, the Combined Cycle Unit and the standby power plant in the Elektrėnai Complex, the Algirdas Brazauskas Hydroelectric Power Plant in Kaunas and the Vilnius Third Thermal Power Plant. The company is helping to ensure the reliability and security of the energy systems across the Baltic and Nordic region, and contributing to a historic energy transition – the synchronisation of the three Baltic States with the continental European grid system in 2025. Company registration date: 20 July 2011.
Financial results
P/L Statment
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Revenue | 174,460 | 295,788 | 535,552 | 306,710 |
| Cost of goods sold | 69,834 | 150,112 | 243,585 | 100,428 |
| Gross profit (loss) | 104,626 | 145,676 | 291,967 | 206,282 |
| Gross profit margin | 60% | 49% | 55% | 67% |
| Operating expenses | 0 | 0 | 0 | 0 |
| Operating profit (loss) | 49,998 | 88,163 | 184,441 | 160,689 |
| Operating profit margin | 29% | 30% | 34% | 52% |
| EBITDA | 67,635 | 105,479 | 201,643 | 177,131 |
| EBITDA margin | 39% | 36% | 38% | 58% |
| Net profit (loss) | 42,434 | 74,816 | 156,106 | 137,425 |
| Net profit margin | 24% | 25% | 29% | 45% |
| Revenue |
| Cost of goods sold |
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| Operating expenses |
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| EBITDA |
| EBITDA margin |
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Balance sheet
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Non-current assets | 438,471 | 414,477 | 416,373 | 413,399 |
| Intangible assets | 44 | 15 | 1 | 2 |
| Tangible assets | 426,411 | 402,542 | 380,152 | 365,654 |
| Financial assets | 99 | 118 | 10,180 | 5,082 |
| Other non-current assets | 11,917 | 11,802 | 26,040 | 42,661 |
| Current assets | 203,742 | 292,578 | 327,962 | 192,675 |
| Inventories and prepaid expenses | 35,729 | 29,396 | 251,235 | 167,444 |
| Accounts receivable in one year | 20,751 | 28,828 | 34,752 | 19,833 |
| Other current assets | 9,142 | 64,933 | 15,196 | 0 |
| Cash and cash equivalents | 138,120 | 169,421 | 26,779 | 5,398 |
| Total assets | 642,246 | 707,191 | 744,797 | 606,369 |
| Equity | 386,975 | 342,175 | 467,358 | 337,753 |
| Grants and subsidies | 150,774 | 142,470 | 134,435 | 126,504 |
| Liabilities | 75,398 | 192,641 | 133,677 | 91,773 |
| Financial liabilities | 27,046 | 22,485 | 18,256 | 14,196 |
| Long-term liabilities | 44,309 | 38,072 | 33,945 | 28,881 |
| Short-term liabilities | 31,089 | 154,569 | 99,732 | 62,892 |
| Equity and liabilities | 642,246 | 707,191 | 744,797 | 606,369 |
| Non-current assets |
| Intangible assets |
| Tangible assets |
| Financial assets |
| Other non-current assets |
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| Inventories and prepaid expenses |
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| Cash and cash equivalents |
| Total assets |
| Equity |
| Grants and subsidies |
| Liabilities |
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| Short-term liabilities |
| Equity and liabilities |
Financial ratios
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 6% | 11% | 22% | 20% |
| Return on equity (ROE) | 12% | 21% | 39% | 34% |
| Return on capital employed (ROCE) | 12% | 23% | 37% | 44% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.77 | 0.79 | 0.68 | 1.48 |
| Current Ratio | 6.55 | 1.89 | 3.29 | 3.06 |
| Quick ratio | 5.40 | 1.70 | 0.77 | 0.40 |
| Turnover ratios | ||||
| Asset turnover | 0.27 | 0.42 | 0.72 | 0.51 |
| Fixed asset turnover | 0.40 | 0.71 | 1.29 | 0.74 |
| Equity turnover | 0.45 | 0.86 | 1.15 | 0.91 |
| Profitability ratios | ||||
| EBITDA margin | 39% | 36% | 38% | 58% |
| Operating profit margin | 29% | 30% | 34% | 52% |
| Net profit margin | 24% | 25% | 29% | 45% |
| Other ratios | ||||
| Dividends to the State | 32,836.75 | 144,504.00 | 156,169.00 | 137,483.00 |
| Dividends paid / net profit | 0.77 | 1.93 | 1.00 | 1.00 |
| 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) |
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About the company
- Official nameAB „Ignitis gamyba“
- Legal formPublic limited liability company (AB)
- Company code302648707
- SectorEnergy
- Line of businessProduction of electricity, trade in electricity
- Accountability„Ignitis grupė“ group of companies
- Share indirectly belonging to the State100%
Return to the State
137.5 EUR milion
ROE
34.1%
Number of employees
369
Financial data provided as at end-December 2023
Management
- Asta SungailienėChief Executive Officer
Information as of: 2024/07/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Vidmantas SalietisAB Ignitis grupė; UAB Ignitis renewables; UAB Ignitis
MEMBERS OF THE BOARD OF DIRECTORS
- Mantas MikalajūnasAB Ignitis grupė; UAB Ignitis; UAB Vilniaus kogeneracinė jėgainė; UAB Kauno kogeneracinė jėgainė
- Edvardas JatautasIndependent member; UAB Addendum pro; Addendum group Inc.; SIA Addendum LV; OU Addendum EE
- Mindaugas ŠeštokasIndependent member; Kitron
- Vilmantas VitkauskasOffice of the Government
Information as of: 2024/07/01
