Ignitis

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

	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

Annual
Semi-annual

	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

Annual
Semi-annual

	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: 9/1/2023

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

Vidmantas SalietisAB Ignitis grupė

MEMBERS OF THE BOARD OF DIRECTORS

Mantas MikalajūnasAB Ignitis grupė

Paulius DambrauskasUAB AL holdingas; Independent member

Roger HunterIndependent member; Royal Dutch Shell plc

Toma SasnauskienėMinistry of Finance