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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

2018 2019 2020 2021
Revenue 137,821 145,504 174,460 295,788
Cost of goods sold 61,894 69,834 150,112
Gross profit (loss) 75,927 145,504 104,626 145,676
Gross profit margin 55% 100% 60% 49%
Operating expenses 32,273 94,794 54,628 57,513
Operating profit (loss) 43,654 50,710 49,998 88,163
Operating profit margin 32% 35% 29% 30%
EBITDA 62,688 69,160 67,635 105,479
EBITDA margin 45% 48% 39% 36%
Net profit (loss) 34,664 42,792 42,434 74,816
Net profit margin 25% 29% 24% 25%
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

2018 2019 2020 2021
Non-current assets 535,987 519,691 438,471 414,477
Intangible assets 48,597 51,888 44 15
Tangible assets 476,271 462,088 426,411 402,542
Financial assets 4,444 628 99 118
Other non-current assets 6,675 5,087 11,917 11,802
Biological assets
Current assets 120,727 142,837 203,742 292,578
Inventories and prepaid expenses 7,068 1,298 35,729 29,396
Accounts receivable in one year 12,037 33,067 20,751 28,828
Other current assets 53,737 49,971 9,142 64,933
Cash and cash equivalents 47,885 58,501 138,120 169,421
Total assets 656,714 678,112 642,246 707,191
Equity 391,812 410,053 386,975 342,175
Minority share of capital
Grants and subsidies 171,039 166,722 150,774 142,470
Liabilities 93,863 101,296 104,393 222,389
Financial liabilities 38,036 31,479 27,046 22,485
Long-term liabilities 58,860 52,252 44,309 38,072
Short-term liabilities 24,383 32,154 31,089 154,569
Equity and liabilities 656,714 678,112 642,246 707,191
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

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 5% 6% 6% 11%
Return on equity (ROE) 9% 11% 11% 21%
Return on capital employed (ROCE) 14% 16% 16% 32%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.10 0.08 0.07 0.07
Current Ratio 4.95 4.44 6.55 1.89
Quick ratio 4.66 4.40 5.40 1.70
Turnover ratios
Asset turnover 0.21 0.22 0.26 0.44
Fixed asset turnover 0.26 0.28 0.36 0.69
Equity turnover 0.37 0.36 0.44 0.81
Profitability ratios
EBITDA margin 45% 48% 39% 36%
Operating profit margin 32% 35% 29% 30%
Net profit margin 25% 29% 24% 25%
Other ratios
Dividends to the State 23,188.23 24,627.56 32,836.75 144,504.00
Dividends paid / net profit 0.67 0.58 0.77 1.93
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%
https://ignitisgamyba.lt/
Return to the State

144.5 EUR milion

ROE

20.5%

Number of employees

362

Financial data provided as at end-December 2021

Management

  • Rimgaudas KalvaitisChief Executive Officer

Information as of: 2023/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vidmantas SalietisAB Ignitis grupė

MEMBERS OF THE BOARD OF DIRECTORS

  • Mantas MikalajūnasAB Ignitis grupė
  • Edvardas JatautasJSC Profectus Novus, Independent member
  • Mindaugas ŠeštokasKitron; Independent member
  • Vilmantas VitkauskasOffice of the Government

Information as of: 2023/05/01