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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

2018 2019 2020 2021
Revenue 208,754 433,412 506,340 876,832
Cost of goods sold 212,153 407,174 408,684 838,347
Gross profit (loss) -3,399 26,238 97,656 38,485
Gross profit margin -2% 6% 19% 4%
Operating expenses 7,537 30,025 48,514 27,769
Operating profit (loss) -10,936 -3,787 49,142 10,716
Operating profit margin -5% -1% 10% 1%
EBITDA -10,110 1,525 67,613 10,958
EBITDA margin -5% 0% 13% 1%
Net profit (loss) -5,921 -5,334 42,073 5,961
Net profit margin -3% -1% 8% 1%
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

2018 2019 2020 2021
Non-current assets 29,897 59,952 50,981 78,691
Intangible assets 23,832 35,905 18,922 18,423
Tangible assets 2,446 2,782 3,433
Financial assets 82 14,677 11,851 44,180
Other non-current assets 5,983 6,924 17,426 12,655
Biological assets
Current assets 100,325 171,458 168,405 596,169
Inventories and prepaid expenses 31,263 43,372 28,577 207,525
Accounts receivable in one year 57,212 104,677 116,537 315,691
Other current assets 412
Cash and cash equivalents 11,438 23,409 23,291 72,953
Total assets 130,222 136,030 224,449 814,276
Equity 10,649 47,027 82,427 71,079
Minority share of capital
Grants and subsidies
Liabilities 119,573 185,487 117,533 695,300
Financial liabilities 22,451 110,314 48,810 514,951
Long-term liabilities 31,077 39,594 290,186
Short-term liabilities 119,569 154,317 77,786 404,899
Equity and liabilities 130,222 232,337 224,449 814,276
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

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) -9% -4% 23% 1%
Return on equity (ROE) -25% -18% 65% 8%
Return on capital employed (ROCE) -133% 41% 67% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.48 2.35 0.59 7.24
Current Ratio 0.84 1.11 2.16 1.47
Quick ratio 0.58 0.83 1.80 0.96
Turnover ratios
Asset turnover 3.07 3.26 2.81 1.69
Fixed asset turnover 13.96 9.65 9.13 13.52
Equity turnover 8.88 15.03 7.82 11.42
Profitability ratios
EBITDA margin -5% 0% 13% 1%
Operating profit margin -5% -1% 10% 1%
Net profit margin -3% -1% 8% 1%
Other ratios
Dividends to the State
Dividends paid / net profit

* 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/
ROE

7.8%

Number of employees

327

Financial data provided as at end-December 2021

Management

  • Artūras BortkevičiusDirector General

Information as of: 2023/03/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Artūras BortkevičiusUAB Ignitis

MEMBERS OF THE BOARD OF DIRECTORS

  • Haroldas NausėdaUAB Ignitis
  • Tadas AdomaitisUAB Ignitis
  • Andrius KavaliauskasUAB Ignitis
  • Darius ŠimkusUAB Ignitis

Information as of: 2023/03/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Vidmantas SalietisAB Ignitis grupė

SUPERVISORY BOARD MEMBERS

  • Mantas MikalajūnasAB Ignitis grupė
  • Paulius DambrauskasUAB Alma literra; Independent member

Information as of: 2023/03/01