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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB Kelių priežiūra is a state-owned company responsible for the maintenance of more than 21,000 km of national roads. The company is one of the largest employers in the country and employs around 2,300 specialists in various fields, who grit and clean roads in winter, repair potholes, profile gravel roads, cut grass on sidewalks and dividing strips, remove pavement effects, restore road elements, etc.
The company also designs and builds roads, streets, plazas, constructs bicycle and pedestrian paths, carries out horizontal marking of roads, streets, airfields, provides heavy equipment repair services, produces asphalt and quarry products, rents equipment and premises.

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 2022-2024

  • Change in income from commercial activities, per cent:
    • 2022 – 27
    • 2023 – 21
    • 2024 – 15
  • 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), per cent:
    • 2022 – 92
    • 2023 – 93
    • 2024 – 94
  • Change in GHG emissions,%:
    • 2022 – 3
    • 2023 – 3
    • 2024 – 2
  • Employee involvement,%:
    • 2022 – 39
    • 2023 – 40
    • 2024 – 41

          2021/22 GOOD CORPORATE GOVERNANCE INDEX       


          2020/21 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

2018 2019 2020 2021
Revenue 78,147 84,293 97,863 91,877
Cost of goods sold 69,758 77,263 84,710 88,058
Gross profit (loss) 8,389 7,031 13,153 3,819
Gross profit margin 11% 8% 13% 4%
Operating expenses 9,456 6,886 7,606 8,038
Operating profit (loss) -1,067 145 5,547 -4,219
Operating profit margin -1% 0% 6% -5%
EBITDA 7,889 10,325 15,913 6,855
EBITDA margin 10% 12% 16% 7%
Net profit (loss) -1,164 353 4,752 -3,303
Net profit margin -1% 0% 5% -4%
2019-06 2020-06 2021-06 2022-06
Revenue 39,599 38,622 44,405 47,672
Cost of goods sold 36,707 32,444 41,418 46,663
Gross profit (loss) 2,892 6,178 2,987 1,009
Gross profit margin % % % %
Operating expenses 3,449 3,486 3,970 4,026
Operating profit (loss) -557 2,691 -983 -3,018
Operating profit margin % % % %
EBITDA 4,379 7,775 4,356 2,656
EBITDA margin 11% 20% 10% 6%
Net profit (loss) -590 2,218 -845 -2,467
Net profit margin -1% 6% -2% -5%

Balance sheet

2018 2019 2020 2021
Non-current assets 85,812 85,991 93,397 96,510
Intangible assets 101 183 273 282
Tangible assets 85,261 83,725 90,171 92,167
Financial assets 30 60 60
Other non-current assets 451 2,053 2,894 4,001
Current assets 37,626 43,025 48,990 31,938
Inventories and prepaid expenses 5,106 7,953 7,655 7,542
Accounts receivable in one year 3,664 3,212 2,501 3,853
Other current assets 346 631 861 2,920
Cash and cash equivalents 28,511 31,231 37,974 17,624
Total assets 123,439 129,016 142,388 128,448
Equity 110,949 111,299 116,051 106,760
Grants and subsidies 12
Liabilities 12,490 17,718 26,337 21,676
Financial liabilities 1,683 2,409 3,019
Long-term liabilities 768 2,177 3,038 3,295
Short-term liabilities 9,593 13,389 20,250 15,746
Equity and liabilities 123,439 129,016 142,388 128,448
2020-06 2021-06 2022-06
Non-current assets 86,571 94,892 100,294
Intangible assets 157 205 198
Tangible assets 84,306 91,654 95,776
Financial assets 30 60 60
Other non-current assets 2,078 2,973 4,260
Current assets 43,075 34,957 34,135
Inventories and prepaid expenses 7,832 7,533 9,727
Accounts receivable in one year 5,646 10,454 15,223
Other current assets 504 1,362 4,053
Cash and cash equivalents 29,093 15,609 5,133
Total assets 130,202 129,849 134,429
Equity 113,517 109,219 104,294
Grants and subsidies 11
Liabilities 16,620 20,630 30,125
Financial liabilities 1,617 2,407 8,266
Long-term liabilities 1,505 3,105 8,315
Short-term liabilities 11,737 14,439 19,335
Equity and liabilities 130,202 129,849 134,429

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 1% 0% 4% -2%
Return on equity (ROE) 1% 0% 4% -3%
Return on capital employed (ROCE) -1% 1% 10% -6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02 0.02 0.03
Current Ratio 3.92 3.21 2.42 2.03
Quick ratio 3.39 2.62 2.04 1.55
Turnover ratios
Asset turnover 0.60 0.67 0.72 0.68
Fixed asset turnover 0.84 0.98 1.09 0.97
Equity turnover 0.66 0.76 0.86 0.82
Profitability ratios
EBITDA margin 10% 12% 16% 7%
Operating profit margin -1% 0% 6% -5%
Net profit margin -1% 0% 5% -4%
Other ratios
Dividends to the State 5,986.90
Dividends paid / net profit 1.26
2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 0% % 1% -3%
Return on equity (ROE) 0% % 2% -4%
Return on capital employed (ROCE) 1% 5% -1% -5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02 0.02 0.03 0.08
Current Ratio 3.21 3.67 2.42 1.77
Quick ratio 2.62 3.00 1.90 1.26
Turnover ratios
Asset turnover 0.67 0.59 0.34 0.36
Fixed asset turnover 0.98 0.89 0.49 0.49
Equity turnover 0.76 0.68 0.40 0.45
Profitability ratios
EBITDA margin 12% 20% 10% 6%
Operating profit margin 0% % % %
Net profit margin 0% 6% -2% -5%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity undefined

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

-4.0%

Number of employees

2,245

Financial data provided as at end-December 2021

Management

  • Rolandas RutėnasDirector General

Information as of: 2023/01/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vygantas SliesoraitisUAB AL holdingas; UAB Visi namai, UAB Vegta, VšĮ Panovis, Vilniaus Perkūno Rotary Klubas; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Živilė ValeišienėIndependent member
  • Nerijus Datkūnas AB Energijos skirstymo operatorius; UAB GRINDA; UAB LVG holding; ICF LITHUANIA; MB Metakomanda; Independent member
  • Audrius VaitkusVilniaus Gedimino technikos universitetas, Independent member
  • Agnė Amelija MikalonėMinistry of Transport and Communications

Information as of: 2023/01/01