Ignitis renewables
Ignitis Renewables manages renewable energy projects in the Baltic States and Poland. Also the company is responsible for the efficient operation of existing wind farms, maintenance of existing wind farms and development of new ones. By developing new wind and solar projects, the company is fulfilling Ignitis Group’s strategic ambition to increase its green generation portfolio.
The company’s mission is to operate, supervise and coordinate the development of renewable energy projects. Date of company establishment and registration: 14 January 2019.
Financial results
P/L Statment
| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Revenue | 22,732 | 57,915 | 48,904 | 85,207 |
| Cost of goods sold | 26 | 3,500 | 258 | 2,236 |
| Gross profit (loss) | 22,706 | 54,415 | 48,646 | 82,971 |
| Gross profit margin | 100% | 94% | 99% | 97% |
| Operating expenses | 0 | 0 | 0 | 0 |
| Operating profit (loss) | 10,846 | 25,853 | 10,190 | 20,147 |
| Operating profit margin | 48% | 45% | 21% | 24% |
| EBITDA | 16,165 | 37,676 | 22,421 | 37,066 |
| EBITDA margin | 71% | 65% | 46% | 44% |
| Net profit (loss) | 7,577 | 13,404 | 8,051 | 4,608 |
| Net profit margin | 33% | 23% | 16% | 5% |
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Balance sheet
| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Non-current assets | 280,009 | 420,110 | 1,079,706 | 1,419,230 |
| Intangible assets | 47,892 | 81,846 | 237,352 | 221,585 |
| Tangible assets | 187,968 | 194,210 | 476,067 | 935,287 |
| Financial assets | 5,340 | 5,000 | 60,880 | 6,089 |
| Other non-current assets | 38,809 | 139,054 | 305,407 | 256,269 |
| Current assets | 53,102 | 109,710 | 125,978 | 237,161 |
| Inventories and prepaid expenses | 84 | 267 | 1,529 | 557 |
| Accounts receivable in one year | 26,817 | 52,120 | 48,572 | 97,602 |
| Other current assets | 0 | 0 | 3,501 | 1,732 |
| Cash and cash equivalents | 26,201 | 57,323 | 72,376 | 137,270 |
| Total assets | 333,659 | 530,900 | 1,208,025 | 1,659,495 |
| Equity | 51,925 | 68,211 | 232,254 | 256,095 |
| Grants and subsidies | 0 | 0 | 0 | 0 |
| Liabilities | 270,783 | 459,234 | 970,278 | 1,393,094 |
| Financial liabilities | 252,637 | 417,732 | 814,243 | 1,263,119 |
| Long-term liabilities | 256,067 | 432,060 | 879,944 | 1,287,385 |
| Short-term liabilities | 14,716 | 27,174 | 90,334 | 105,709 |
| Equity and liabilities | 333,659 | 530,900 | 1,208,025 | 1,659,495 |
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Financial ratios
| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 3% | 3% | 1% | 0% |
| Return on equity (ROE) | 16% | 22% | 5% | 2% |
| Return on capital employed (ROCE) | 4% | 5% | 1% | 1% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 0.77 | 0.79 | 0.68 | 0.77 |
| Current Ratio | 3.61 | 4.04 | 1.39 | 2.24 |
| Quick ratio | 3.60 | 4.03 | 1.38 | 2.24 |
| Turnover ratios | ||||
| Asset turnover | 0.07 | 0.11 | 0.04 | 0.05 |
| Fixed asset turnover | 0.08 | 0.14 | 0.05 | 0.06 |
| Equity turnover | 0.44 | 0.85 | 0.21 | 0.33 |
| Profitability ratios | ||||
| EBITDA margin | 71% | 65% | 46% | 44% |
| Operating profit margin | 48% | 45% | 21% | 24% |
| Net profit margin | 33% | 23% | 16% | 5% |
| Other ratios | ||||
| Dividends to the State | 1,770.00 | 0.00 | 0.00 | 0.00 |
| Dividends paid / net profit | 0.23 | 0.00 | 0.00 | 0.00 |
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About the company
- Official nameUAB „Ignitis renewables“
- Legal formPrivate limited liability company (UAB)
- Company code304988904
- SectorEnergy
- Line of businessManaging wind and solar power companies
- Accountability„Ignitis grupė“ group of companies
- Share indirectly belonging to the State100%
- Contacts https://ignitisrenewables.com/
ROE
1.9%
Number of employees
270
Financial data provided as at end-December 2024
Management
- Franciscus Petrus Maria OomenChief Executive Officer
Term of office expires: 2030/08/31
The information is relevant
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Jonas RimavičiusAB “Ignitis grupė“, Group Chief Finance Officer
MEMBERS OF THE BOARD OF DIRECTORS
- Vytenis Koryzna AB “Ignitis grupė“, Group Chief Commercial Officer
- Peter OvergaardIndependent member
Term of office expires: 2027/02/06
The information is relevant
