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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB Klaipėdos Nafta was established in 1994. The company’s main activities are export and import of crude oil and petroleum products. Crude oil and its products are reloaded in the company’s tanks. The company’s main competitors are the terminals of oil product handling in Baltic Sea ports. Klaipėdos Nafta shares are traded on the NASDAQ OMX Vilnius Stock Exchange.

Financial results

P/L Statment

2016 2017 2018 2019
Revenue 103,839 106,484 99,998 104,363
Cost of goods sold 83,042 82,739 82,629 83,529
Gross profit (loss) 20,797 23,745 17,369 20,834
Gross profit margin 20% 22% 17% 20%
Operating expenses 5,905 6,217 5,780 7,064
Operating profit (loss) 14,892 17,528 11,589 13,770
Operating profit margin 14% 16% 12% 13%
EBITDA 28,060 31,239 26,781 71,818
EBITDA margin 27% 29% 27% 69%
Net profit (loss) 13,794 17,031 11,577 7,561
Net profit margin 13% 16% 12% 7%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 52,341 52,739 51,244 40,737
Cost of goods sold 41,276 40,052 42,561 25,094
Gross profit (loss) 11,065 12,687 8,683 15,643
Gross profit margin 21% 24% 17% 38%
Operating expenses 2,814 2,684 3,471 4,699
Operating profit (loss) 8,251 10,003 5,212 10,944
Operating profit margin 16% 19% 10% 27%
EBITDA 15,195 17,170 33,805 24,166
EBITDA margin 29% 33% 66% 59%
Net profit (loss) 838 9 2,542 9,412
Net profit margin 14% 19% 5% 23%

* 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 186,895 204,977 202,473 581,351
Intangible assets 399 490 726 534
Tangible assets 182,925 201,449 199,211 207,824
Financial assets 411 410 404 197
Other non-current assets 3,160 2,628 2,132 372,796
Biological assets
Current assets 55,536 96,268 90,654 81,946
Inventories and prepaid expenses 2,117 1,372 1,747 2,400
Accounts receivable in one year 11,207 12,765 13,998 14,327
Other current assets 156 65,384 1,671 23,354
Cash and cash equivalents 42,056 16,747 73,238 41,865
Total assets 242,431 301,245 293,127 663,297
Equity 192,969 200,344 195,490 190,649
Minority share of capital
Grants and subsidies 2,781 4,006 4,642 5,988
Liabilities 46,681 96,895 92,995 466,660
Financial liabilities 29,724 76,379 76,152 73,373
Long-term liabilities 31,290 76,733 74,368 402,366
Short-term liabilities 15,391 20,162 18,627 64,294
Equity and liabilities 242,431 301,245 293,127 663,297
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 189,957 203,564 470,291 569,797
Intangible assets 407 631 634 429
Tangible assets 186,245 200,217 466,776 568,253
Financial assets 411 357 1,068 972
Other non-current assets 2,894 2,359 1,813 143
Biological assets
Current assets 52,045 89,952 77,752 89,373
Inventories and prepaid expenses 1,921 1,607 2,083 2,636
Accounts receivable in one year 13,281 13,845 12,989 13,743
Other current assets 619 599 2,213 18,544
Cash and cash equivalents 36,224 73,901 60,467 54,450
Total assets 242,002 293,516 548,043 659,170
Equity 190,702 193,523 185,688 192,070
Minority share of capital
Grants and subsidies 4,006 4,897 4,464 5,712
Liabilities 47,294 95,096 357,891 461,388
Financial liabilities 29,664 76,388 74,957 448,932
Long-term liabilities 31,442 75,620 289,159 395,740
Short-term liabilities 15,852 19,476 68,732 63,852
Equity and liabilities 242,002 293,516 548,043 659,170

* 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) 6% 6% 4% 2%
Return on equity (ROE) 7% 9% 6% 4%
Return on capital employed (ROCE) 13% 13% 9% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.15 0.38 0.39 0.38
Current Ratio 3.61 4.77 4.87 1.27
Quick ratio 3.47 4.71 4.77 1.24
Turnover ratios
Asset turnover 0.43 0.39 0.34 0.22
Fixed asset turnover 0.57 0.54 0.49 0.27
Equity turnover 0.53 0.54 0.51 0.54
Profitability ratios
EBITDA margin 27% 29% 27% 69%
Operating profit margin 14% 16% 12% 13%
Net profit margin 13% 16% 12% 7%
Other ratios
Dividends to the State 6,983.22 12,316.72 8,372.66 5,747.27
Dividends paid / net profit 0.51 0.72 0.72 0.76

* 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) 6% 7% 1% 2%
Return on equity (ROE) 9% 10% 2% 8%
Return on capital employed (ROCE) 13% 7% 2% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.38 0.39 0.40 2.34
Current Ratio 4.77 4.62 1.13 1.40
Quick ratio 4.71 4.54 1.10 1.36
Turnover ratios
Asset turnover 0.39 0.20 0.12 0.07
Fixed asset turnover 0.54 0.27 0.15 0.08
Equity turnover 0.54 0.27 0.27 0.22
Profitability ratios
EBITDA margin 29% 33% 66% 59%
Operating profit margin 16% 19% 10% 27%
Net profit margin 16% 19% 5% 23%
Other ratios
Dividends to the State 12,316.72
Dividends paid / net profit 0.72

Financial statments

2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos
2018 m. metinės ataskaitos 2018 m. 6 mėn. tarpinės ataskaitos
2017 m. 6 mėn. tarpinės ataskaitos 2017 m. metinės ataskaitos
2016 m. metinės ataskaitos 2016 m. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės ataskaitos
2015 m. 12 mėn. tarpinės ataskaitos 2015 m. 9 mėn. tarpinės ataskaitos 2015 m. 6 mėn. tarpinės ataskaitos 2015 m. 3 mėn. tarpinės ataskaitos
2014 m. metinės ataskaitos 2014 m. 12 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos
2011 m. metinės ataskaitos
2010 m. metinės ataskaitos

Expectations of the state

Target return on equity

5.8%

Letter of Expectations

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%
https://www.kn.lt/
Return to the State

5.7 EUR milion

ROE

3.9%

Number of employees

365

Financial data provided as at end-December 2019