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Valdymo koordinavimo centras Governance Coordination Centre

Indirectly Owned State Enterprises

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
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 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
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) 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)
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 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%
  • Contacts https://ignitisgamyba.lt/
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: 2024/11/04

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: 2024/11/04