Klaipėdos nafta

KN has grown from the role of the operator of Lithuanian oil and LNG terminals and is becoming a player in the international LNG market. The company provides the market with accumulated knowledge of terminal operation and development and connects energy markets, enabling customers around the world to source and trade energy resources. KN sets itself the ambitious goal of transforming the company that has ensured Lithuania’s energy independence into a leading oil and LNG service center operator in the region and fostering a safety culture, as well as an internationally valued LNG project partner.
Financial results
P/L Statment
2017 | 2018 | 2019 | 2020 | |
---|---|---|---|---|
Revenue | 106,484 | 99,998 | 104,363 | 80,114 |
Cost of goods sold | 82,739 | 82,629 | 83,529 | 50,960 |
Gross profit (loss) | 23,745 | 17,369 | 20,834 | 29,154 |
Gross profit margin | 22% | 17% | 20% | 36% |
Operating expenses | 6,217 | 5,780 | 7,064 | 9,811 |
Operating profit (loss) | 17,528 | 11,589 | 13,770 | 19,343 |
Operating profit margin | 16% | 12% | 13% | 24% |
EBITDA | 31,239 | 26,781 | 71,818 | 45,868 |
EBITDA margin | 29% | 27% | 69% | 57% |
Net profit (loss) | 17,031 | 11,577 | 7,561 | 33,958 |
Net profit margin | 16% | 12% | 7% | 42% |
2018-06 | 2019-06 | 2020-06 | 2021-06 | |
---|---|---|---|---|
Revenue | 52,739 | 51,244 | 40,737 | 31,629 |
Cost of goods sold | 40,052 | 42,561 | 25,094 | 26,887 |
Gross profit (loss) | 12,687 | 8,683 | 15,643 | 4,742 |
Gross profit margin | % | % | 17% | 15% |
Operating expenses | 2,684 | 3,471 | 4,714 | 3,539 |
Operating profit (loss) | 10,003 | 5,212 | 10,929 | 1,203 |
Operating profit margin | % | % | 10% | 4% |
EBITDA | 33,969 | 14,599 | ||
EBITDA margin | % | % | 66% | 46% |
Net profit (loss) | 10,210 | 2,542 | 9,412 | -6,764 |
Net profit margin | % | % | 5% | -21% |
Balance sheet
2017 | 2018 | 2019 | 2020 | |
---|---|---|---|---|
Non-current assets | 204,977 | 202,473 | 581,351 | 559,999 |
Intangible assets | 490 | 726 | 534 | 496 |
Tangible assets | 201,449 | 199,211 | 207,824 | 201,845 |
Financial assets | 410 | 404 | 197 | 256 |
Other non-current assets | 2,628 | 2,132 | 372,796 | 357,402 |
Current assets | 96,268 | 90,654 | 81,946 | 91,695 |
Inventories and prepaid expenses | 1,372 | 1,747 | 2,400 | 2,415 |
Accounts receivable in one year | 12,765 | 13,998 | 14,327 | 11,957 |
Other current assets | 65,384 | 1,671 | 23,354 | 26,247 |
Cash and cash equivalents | 16,747 | 73,238 | 41,865 | 51,076 |
Total assets | 301,245 | 293,127 | 663,297 | 651,694 |
Equity | 200,344 | 195,490 | 190,649 | 216,326 |
Grants and subsidies | 4,006 | 4,642 | 5,988 | 5,817 |
Liabilities | 96,895 | 92,995 | 466,660 | 429,551 |
Financial liabilities | 76,379 | 76,152 | 450,250 | 402,129 |
Long-term liabilities | 76,733 | 74,368 | 402,366 | 367,280 |
Short-term liabilities | 20,162 | 18,627 | 64,222 | 60,562 |
Equity and liabilities | 301,245 | 293,127 | 663,297 | 651,694 |
2019-06 | 2020-06 | 2021-06 | |
---|---|---|---|
Non-current assets | 470,291 | 569,797 | 549,204 |
Intangible assets | 634 | 429 | 434 |
Tangible assets | 466,776 | 568,253 | 198,631 |
Financial assets | 1,068 | 972 | 203 |
Other non-current assets | 1,813 | 143 | 349,936 |
Current assets | 77,752 | 89,373 | 77,124 |
Inventories and prepaid expenses | 2,083 | 2,636 | 1,880 |
Accounts receivable in one year | 12,989 | 13,743 | 13,865 |
Other current assets | 2,213 | 18,544 | 1,646 |
Cash and cash equivalents | 60,467 | 54,450 | 59,733 |
Total assets | 548,043 | 659,170 | 626,328 |
Equity | 185,688 | 192,070 | 202,091 |
Grants and subsidies | 4,464 | 5,712 | 5,718 |
Liabilities | 357,891 | 461,388 | 418,519 |
Financial liabilities | 71,789 | 395,461 | 350,546 |
Long-term liabilities | 289,159 | 395,740 | 358,495 |
Short-term liabilities | 3,168 | 53,471 | 45,378 |
Equity and liabilities | 548,043 | 659,170 | 626,328 |
Financial ratios
2017 | 2018 | 2019 | 2020 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 6% | 4% | 2% | 5% |
Return on equity (ROE) | 9% | 6% | 4% | 17% |
Return on capital employed (ROCE) | 13% | 9% | 5% | 7% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.38 | 0.39 | 2.36 | 1.86 |
Current Ratio | 4.77 | 4.87 | 1.28 | 1.51 |
Quick ratio | 4.71 | 4.77 | 1.24 | 1.47 |
Turnover ratios | ||||
Asset turnover | 0.39 | 0.34 | 0.22 | 0.12 |
Fixed asset turnover | 0.54 | 0.49 | 0.27 | 0.14 |
Equity turnover | 0.54 | 0.51 | 0.54 | 0.39 |
Profitability ratios | ||||
EBITDA margin | 29% | 27% | 69% | 57% |
Operating profit margin | 16% | 12% | 13% | 24% |
Net profit margin | 16% | 12% | 7% | 42% |
Other ratios | ||||
Dividends to the State | 12,316.72 | 8,372.66 | 5,747.27 | 5,453.74 |
Dividends paid / net profit | 0.72 | 0.72 | 0.76 | 0.16 |
2018-06 | 2019-06 | 2020-06 | 2021-06 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 6% | % | % | 3% |
Return on equity (ROE) | 9% | % | % | 9% |
Return on capital employed (ROCE) | 13% | -11% | 7% | 0% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.38 | 2.34 | 1.96 | |
Current Ratio | 4.77 | 24.54 | 1.67 | 1.70 |
Quick ratio | 4.71 | 23.89 | 1.62 | 1.66 |
Turnover ratios | ||||
Asset turnover | 0.39 | 0.19 | 0.07 | 0.05 |
Fixed asset turnover | 0.54 | 0.22 | 0.08 | 0.06 |
Equity turnover | 0.54 | 0.55 | 0.22 | 0.16 |
Profitability ratios | ||||
EBITDA margin | 29% | % | 66% | 46% |
Operating profit margin | 16% | % | 10% | 4% |
Net profit margin | 16% | % | 5% | -21% |
Other ratios | ||||
Dividends to the State | 12,316.72 | |||
Dividends paid / net profit | 0.72 |
Financial statments
Expectations of the state
Target return on equity
5.8%
About the company
- Official nameAB „Klaipėdos nafta“
- Legal formPublic limited liability company (AB)
- Company code110648893
- SectorEnergy
- Line of businessExport and import of oil and oil products
- Institution representing the StateMinistry of Energy
- Share belonging to the State72.32%
Return to the State
5.5 EUR milion
ROE
16.7%
Number of employees
411
Financial data provided as at end-December 2020
Management
- Darius ŠilenskisDirector General
Information as of: 2022/05/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- -
MEMBERS OF THE BOARD OF DIRECTORS
- Edvinas Katilius PMI (Philip Morris International) Global Duty Free; Independent member
- Guy MasonWindward Limited; Independent member
- Jūratė LingienėSEB; Independent member
- Alfonso MorrielloAXEGAZ Trading & Technologies; Independent member
Information as of: 2022/05/01