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Valdymo koordinavimo centras Governance Coordination Centre

Indirectly Owned State Enterprises

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

2019 2020 2021 2022
Revenue 433,412 506,340 876,832 2,968,541
Cost of goods sold 407,174 408,684 838,347 2,846,501
Gross profit (loss) 26,238 97,656 38,485 122,040
Gross profit margin 6% 19% 4% 4%
Operating expenses 30,025 48,514 27,769 39,610
Operating profit (loss) -3,787 49,142 10,716 82,430
Operating profit margin -1% 10% 1% 3%
EBITDA 1,525 67,613 13,498 102,768
EBITDA margin 0% 13% 2% 3%
Net profit (loss) -5,334 42,073 5,961 68,738
Net profit margin -1% 8% 1% 2%
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

* Left axis

** Right axis

*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

2019 2020 2021 2022
Non-current assets 59,952 50,981 78,691 109,914
Intangible assets 35,905 18,922 18,423 18,821
Tangible assets 2,446 2,782 3,433 4,388
Financial assets 14,677 11,851 44,180 42,936
Other non-current assets 6,924 17,426 12,655 43,769
Biological assets
Current assets 171,458 168,405 596,169 1,186,287
Inventories and prepaid expenses 43,372 28,577 207,525 315,076
Accounts receivable in one year 104,677 116,537 315,691 592,729
Other current assets
Cash and cash equivalents 23,409 23,291 72,953 278,482
Total assets 232,337 136,030 814,276 1,338,680
Equity 40,354 47,027 71,079 160,517
Minority share of capital
Grants and subsidies
Liabilities 185,487 117,533 695,300 1,107,153
Financial liabilities 110,314 48,810 514,951 668,155
Long-term liabilities 31,077 39,594 290,186 397,695
Short-term liabilities 154,317 77,786 404,899 688,860
Equity and liabilities 232,337 224,449 814,276 1,338,680
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

* All data in Balance Sheet table and corresponding chart is in EUR thousand, unless otherwise noted

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) -2% 23% 1% 6%
Return on equity (ROE) -13% 96% 10% 59%
Return on capital employed (ROCE) -10% 169% 5% 31%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 2.73 1.04 7.24 4.16
Current Ratio 1.11 2.16 1.47 1.72
Quick ratio 0.83 1.80 0.96 1.26
Turnover ratios
Asset turnover 3.73 2.75 1.85 2.76
Fixed asset turnover 14.46 9.13 13.52 31.48
Equity turnover 21.48 11.59 14.85 25.64
Profitability ratios
EBITDA margin 0% 13% 2% 3%
Operating profit margin -1% 10% 1% 3%
Net profit margin -1% 8% 1% 2%
Other ratios
Dividends to the State 20,000.00
Dividends paid / net profit 0.29

* Left axis

** Right axis

*** Dividends to the state in Financial Ratios table is in EUR thousand
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%
https://ignitis.lt/
Return to the State

20.0 EUR milion

ROE

59.4%

Number of employees

320

Financial data provided as at end-December 2022

Management

  • Artūras BortkevičiusChief Executive Officer

Information as of: 2024/04/02

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
  • Roger HunterIndependent member; Royal Dutch Shell plc
  • Toma SasnauskienėMinistry of Finance

Information as of: 2024/04/02