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State Owned Enterprises

VĮ “Kelių priežiūra” was established in 2017 by reorganizing and merging 11 regional road maintenance companies . VĮ „Kelių priežiūra“ is responsible for the maintenance, operation and repair of roads of national significance and their structures. The company also designs and builds roads, streets, yards, manufactures and sells sand, gravel, asphalt concrete, leases road construction machinery and special purpose road transport.

Financial results

P/L Statment

2016 2017 2018 2019
Revenue 81,639 80,055 78,147 84,293
Cost of goods sold 72,913 70,058 69,758 77,263
Gross profit (loss) 8,726 9,997 8,389 7,031
Gross profit margin 11% 12% 11% 8%
Operating expenses 7,798 8,136 9,456 6,886
Operating profit (loss) 928 1,861 -1,067 145
Operating profit margin 1% 2% -1% 0%
EBITDA 11,589 13,451 7,889 10,325
EBITDA margin 14% 17% 10% 12%
Net profit (loss) 1,338 2,279 -1,164 353
Net profit margin 2% 3% -1% 0%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 38,090 37,662 39,599 38,622
Cost of goods sold 34,137 32,595 36,707 32,444
Gross profit (loss) 3,953 5,067 2,892 6,178
Gross profit margin 10% 13% 7% 16%
Operating expenses 3,671 4,170 3,449 3,486
Operating profit (loss) 282 897 -557 2,691
Operating profit margin 1% 2% -1% 7%
EBITDA 5,583 6,016 5,163 7,775
EBITDA margin 15% 16% 13% 20%
Net profit (loss) 94 214 -590 2,218
Net profit margin 1% 3% 2% 6%

* Left axis

** Right axis

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

Balance sheet

2016 2017 2018 2019
Non-current assets 99,678 99,275 85,812 85,991
Intangible assets 100 145 101 183
Tangible assets 99,578 98,699 85,261 83,725
Financial assets 30
Other non-current assets 430 451 2,053
Biological assets
Current assets 28,635 36,133 37,626 43,025
Inventories and prepaid expenses 5,632 4,913 5,106 7,953
Accounts receivable in one year 4,480 3,521 3,664 3,212
Other current assets 992 680 346 631
Cash and cash equivalents 17,531 27,018 28,511 31,231
Total assets 128,746 135,408 123,439 129,016
Equity 120,580 124,805 110,949 111,299
Minority share of capital
Grants and subsidies
Liabilities 8,162 10,575 12,490 17,718
Financial liabilities 1,683
Long-term liabilities 971 768 2,177
Short-term liabilities 8,153 7,513 9,593 13,389
Equity and liabilities 128,745 135,408 123,439 129,016
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 146,783 88,410 90,277 86,571
Intangible assets 93 64 143 157
Tangible assets 145,324 88,346 88,770 84,306
Financial assets 342 30
Other non-current assets 1,365 1,022 2,078
Biological assets
Current assets 33,748 40,177 39,369 43,075
Inventories and prepaid expenses 5,177 5,399 5,600 7,832
Accounts receivable in one year 8,848 10,966 10,440 5,646
Other current assets 1,300 683 504
Cash and cash equivalents 18,423 23,129 23,329 29,093
Total assets 180,642 128,587 129,645 130,202
Equity 171,665 117,841 117,461 113,517
Minority share of capital
Grants and subsidies
Liabilities 8,976 10,746 12,185 16,620
Financial liabilities 1,617
Long-term liabilities 9 2,290 1,505
Short-term liabilities 8,967 10,746 9,894 11,737
Equity and liabilities 180,641 128,587 129,645 130,202

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

Financial ratios

2016 2017 2018 2019
Capital return ratios
Return on assets (ROA) 2% 3% 1% 0%
Return on equity (ROE) 2% 3% 1% 0%
Return on capital employed (ROCE) 1% 4% -1% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02
Current Ratio 3.51 4.81 3.92 3.21
Quick ratio 2.82 4.16 3.39 2.62
Turnover ratios
Asset turnover 0.08 0.61 0.60 0.67
Fixed asset turnover 0.11 0.80 0.84 0.98
Equity turnover 0.09 0.65 0.66 0.76
Profitability ratios
EBITDA margin 100% 17% 10% 12%
Operating profit margin 2% 2% -1% 0%
Net profit margin 3% 3% -1% 0%
Other ratios
Dividends to the State 667.00 4,543.84
Dividends paid / net profit 2.14 1.99

* Left axis

** Right axis

*** Dividends to the state in Financial Ratios table is in EUR thousand

2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) 3% 3% 1% 2%
Return on equity (ROE) 3% 3% 1% 3%
Return on capital employed (ROCE) 4% 2% 0% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.01
Current Ratio 4.81 3.74 3.98 3.67
Quick ratio 4.16 3.24 3.41 3.00
Turnover ratios
Asset turnover 0.61 0.24 0.31 0.30
Fixed asset turnover 0.80 0.32 0.44 0.44
Equity turnover 0.65 0.26 0.34 0.33
Profitability ratios
EBITDA margin 17% 16% 13% 20%
Operating profit margin 2% 2% -1% 7%
Net profit margin 3% 3% 2% 6%
Other ratios
Dividends to the State 4,543.84
Dividends paid / net profit 1.99

Financial statments

2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos
2018 m. metinės ataskaitos 2018 m. 6 mėn. tarpinės ataskaitos
2017 m. metinės ataskaitos

Expectations of the state

Target return on equity

7.6%

Letter of Expectations

About the company

  • Official nameAB „Kelių priežiūra“
  • Legal formPublic limited liability company (AB)
  • Company code232112130
  • SectorTransport and Communications
  • Line of businessRoad construction and maintenance
  • Institution representing the StateMinistry of Transport and Communications
  • Special obligationsVykdo nekomercinius specialiuosius įpareigojimus
  • Share belonging to the State100%
http://keliuprieziura.lt/
ROE

0.3%

Number of employees

2,380

Financial data provided as at end-December 2019

Management

  • Rolandas RutėnasDirector General

Information as of: 2020/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vygantas SliesoraitisAL Holdingas; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Egidijus VaišvilasUAB Executive advisors, UAB Baltic Clippers, Baltic Underwriting Agency; Independent member
  • Audrius VaitkusRoad Research Institute of Vilnius Gediminas Technical University; Independent member
  • Henryk SurovičMinistry of Transport and Communications

Information as of: 2020/10/01