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
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 |
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 |
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 |
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%
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
Information as of: 9/1/2023