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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB Kelių priežiūra is a modernising company with ambitious goals. Combining decades of expertise and an innovative approach, the company has become one of the largest teams in Lithuania with over 2,200 employees.
The company is responsible for the maintenance of 21,000 kilometres of national roads. In winter, it ensures that roads are passable, and in spring and autumn it improves the quality of the roads by renewing worn-out road surfaces, profiling gravel roads, maintaining roadside structures and plantations, etc.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average return on equity ROE from commercial activities:
    • 2022–2024 ≥ 6,9 percent.
  • Annual ratio of financial debt to equity:
    • 2022–2024 limit 0,1–0,2 times

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025

  • Change in income from commercial activities, thousand euros:
    • 2023 – (-3613)
    • 2024 – (+343)
    • 2025 – (+165)
  • Quality of patrol defects (ratio of the number of defects detected during patrol inspections (according to the KPV PN) to the sum of defects detected by the LAKD technical supervisor and the KP quality department), percentage:
    • 2023 – 93
    • 2024-2025 – 94
  • Change in GHG emissions (decrease),%:
    • 2023 – 3
    • 2024 – 2
    • 2025 – 2
  • Average 1 month gross profit of commercial activity per employee, EUR/month:

    • 2023 – 147
    • 2024 – 158
    • 2025 – 169
  • Savings of final energy consumption per year compared to average annual energy consumption, GWh.:

    • 2023 – 0,2288
    • 2024 – 0,2253
    • 2025 – 0,2219

          2022/23 GOOD CORPORATE GOVERNANCE INDEX

          2021/22 GOOD CORPORATE GOVERNANCE INDEX       

Sk – Transparency dimension
KO – Board dimension
SP – Strategic planning and target achievement dimension
GI – Good governance ratio

Financial results

P/L Statment

2019 2020 2021 2022
Revenue 84,293 97,863 91,877 113,580
Cost of goods sold 77,263 84,710 88,058 109,627
Gross profit (loss) 7,031 13,153 3,819 3,953
Gross profit margin 8% 13% 4% 3%
Operating expenses 6,886 7,606 8,038 8,527
Operating profit (loss) 145 5,547 -4,219 -4,574
Operating profit margin 0% 6% -5% -4%
EBITDA 10,325 15,913 6,855 7,366
EBITDA margin 12% 16% 7% 6%
Net profit (loss) 353 4,752 -3,303 -3,918
Net profit margin 0% 5% -4% -3%
2020-06 2021-06 2022-06 2023-06
Revenue 38,622 44,405 47,672 60,470
Cost of goods sold 32,444 41,418 46,663 53,811
Gross profit (loss) 6,178 2,987 1,009 6,659
Gross profit margin 16% 7% 2% 11%
Operating expenses 3,486 3,970 4,026 4,608
Operating profit (loss) 2,691 -983 -3,018 2,051
Operating profit margin 7% -2% -6% 3%
EBITDA 7,775 4,356 2,674 8,276
EBITDA margin 20% 10% 6% 14%
Net profit (loss) 2,218 -845 -2,467 2,517
Net profit margin 6% -2% -5% 4%

* 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 85,991 93,397 96,510 100,292
Intangible assets 183 273 282 396
Tangible assets 83,725 90,171 92,167 95,742
Financial assets 30 60 60 0
Other non-current assets 2,053 2,894 4,001 4,154
Current assets 43,025 48,990 31,938 60,728
Inventories and prepaid expenses 7,953 7,655 7,542 10,391
Accounts receivable in one year 3,212 2,501 3,853 3,098
Other current assets 631 861 2,920 3,606
Cash and cash equivalents 31,231 37,974 17,624 43,633
Total assets 129,016 142,388 128,448 161,020
Equity 111,299 116,051 106,760 102,842
Grants and subsidies 12 11
Liabilities 15,566 23,289 19,042 54,967
Financial liabilities 1,683 2,409 3,019 9,268
Long-term liabilities 2,177 3,038 3,295 6,759
Short-term liabilities 13,389 20,250 15,746 48,208
Equity and liabilities 129,016 142,388 128,448 161,020
2020-06 2021-06 2022-06 2023-06
Non-current assets 86,571 94,892 100,294 98,232
Intangible assets 157 205 198 345
Tangible assets 84,306 91,654 95,776 94,090
Financial assets 30 60 60 0
Other non-current assets 2,078 2,973 4,260 3,797
Current assets 43,075 34,957 34,135 38,340
Inventories and prepaid expenses 7,832 7,533 9,727 8,671
Accounts receivable in one year 5,646 10,454 15,223 15,103
Other current assets 504 1,362 4,053 3,258
Cash and cash equivalents 29,093 15,609 5,133 11,309
Total assets 130,202 129,849 134,429 136,573
Equity 113,517 109,219 104,294 105,359
Grants and subsidies 0 11 10
Liabilities 13,242 17,544 27,650 28,190
Financial liabilities 1,617 2,407 8,266 8,475
Long-term liabilities 1,505 3,105 8,315 6,836
Short-term liabilities 11,737 14,439 19,335 21,354
Equity and liabilities 130,202 129,849 134,429 136,573

* 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) 0% 4% -2% -3%
Return on equity (ROE) 0% 4% -3% -4%
Return on capital employed (ROCE) 0% 5% -4% -4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.01 0.02 0.02 0.06
Current Ratio 3.21 2.42 2.03 1.26
Quick ratio 2.62 2.04 1.55 1.04
Turnover ratios
Asset turnover 0.65 0.69 0.72 0.71
Fixed asset turnover 0.98 1.05 0.95 1.13
Equity turnover 0.76 0.84 0.86 1.10
Profitability ratios
EBITDA margin 12% 16% 7% 6%
Operating profit margin 0% 6% -5% -4%
Net profit margin 0% 5% -4% -3%
Other ratios
Dividends to the State 0.00 5,986.90 0.00 0.00
Dividends paid / net profit 0.00 1.26 0.00 0.00

* Left axis

** Right axis

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

2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 2% 1% -4% 1%
Return on equity (ROE) 3% 2% -5% 1%
Return on capital employed (ROCE) 2% -1% -3% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.01 0.02 0.06 0.06
Current Ratio 3.67 2.42 1.77 1.80
Quick ratio 3.00 1.90 1.26 1.39
Turnover ratios
Asset turnover 0.30 0.34 0.35 0.44
Fixed asset turnover 0.45 0.47 0.48 0.62
Equity turnover 0.34 0.41 0.46 0.57
Profitability ratios
EBITDA margin 20% 10% 6% 14%
Operating profit margin 7% -2% -6% 3%
Net profit margin 6% -2% -5% 4%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2022 m. 6 mėn. tarpinės ataskaitos 2022 m. metinės ataskaitos
2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos
2020 m. 6 mėn. tarpinės ataskaitos 2020 m. metinės ataskaitos
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

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 obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://keliuprieziura.lt/
ROE

-3.7%

Number of employees

2,204

Financial data provided as at end-December 2022

Management

  • L. e. p. Kristupas BaranauskasActing Chief Executive officer

Information as of: 2023/11/03

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vygantas SliesoraitisUAB Visi namai, UAB Vegta, VšĮ Panovis; Independent member; UAB „Genetiniai ištekliai“; UAB „Pieno tyrimai“; UAB AL holdingas

MEMBERS OF THE BOARD OF DIRECTORS

  • Živilė ValeišienėLietuvos įvairovės chartija; Independent member, AB Klaipėdos nafta, International Coaching Federation
  • Nerijus Datkūnas AB Energijos skirstymo operatorius; UAB LVG holding; ICF LITHUANIA, MB Metakomanda; Independent member; MB "Leading LT"
  • Audrius VaitkusVilniaus Gedimino technikos universitetas, AB "Kelių priežiūra"
  • Vidmantas TamulisMinistry of Transport and Communications

Information as of: 2023/11/03