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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

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.

          2023/24 GOOD CORPORATE GOVERNANCE INDEX

        

          2022/23 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

2020 2021 2022 2023
Revenue 80,114 61,811 77,818 83,525
Cost of goods sold 50,960 53,109 57,703 60,024
Gross profit (loss) 29,154 8,702 20,115 23,501
Gross profit margin 36% 14% 26% 28%
Operating expenses 0 0 0
Operating profit (loss) 19,343 -53,226 11,683 12,538
Operating profit margin 24% -86% 15% 15%
EBITDA 45,868 -27,519 34,857 35,743
EBITDA margin 57% -45% 45% 43%
Net profit (loss) 33,958 -64,011 -5,904 13,226
Net profit margin 42% -104% -8% 16%
2021-06 2022-06 2023-06 2024-06
Revenue 31,629 35,976 42,398 42,614
Cost of goods sold 26,887 26,958 31,824 25,382
Gross profit (loss) 4,742 9,018 10,574 17,232
Gross profit margin 15% 25% 25% 40%
Operating expenses 0 0 0 0
Operating profit (loss) 1,203 5,206 5,222 9,955
Operating profit margin 4% 14% 12% 23%
EBITDA 14,599 16,885 16,784 21,722
EBITDA margin 46% 47% 40% 51%
Net profit (loss) -6,764 -13,848 8,100 1,459
Net profit margin -21% -38% 19% 3%

* Left axis

** Right axis

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

Balance sheet

2020 2021 2022 2023
Non-current assets 559,999 493,240 481,050 459,318
Intangible assets 496 456 793 643
Tangible assets 201,845 150,686 145,800 140,709
Financial assets 256 226 261 207
Other non-current assets 357,402 341,872 334,196 317,759
Current assets 91,695 78,841 92,883 96,792
Inventories and prepaid expenses 2,415 1,798 2,120 1,608
Accounts receivable in one year 11,957 12,255 15,069 14,363
Other current assets 26,247 3,271 3,271 61,286
Cash and cash equivalents 51,076 61,517 72,423 19,535
Total assets 651,694 572,081 573,933 556,110
Equity 216,326 144,713 139,100 152,211
Grants and subsidies 5,817 5,771 5,468 5,115
Liabilities 427,842 418,001 423,702 391,421
Financial liabilities 402,129 407,028 409,388 377,549
Long-term liabilities 367,280 360,181 358,142 183,980
Short-term liabilities 60,562 57,820 65,560 207,441
Equity and liabilities 651,694 572,081 573,933 556,110
2021-06 2022-06 2023-06 2024-06
Non-current assets 549,204 490,010 469,676 457,612
Intangible assets 434 859 700 530
Tangible assets 198,631 148,233 142,383 146,579
Financial assets 203 234 111 138
Other non-current assets 349,936 340,684 326,482 310,365
Current assets 0 0 0 0
Inventories and prepaid expenses 1,880 2,197 1,999 1,796
Accounts receivable in one year 13,865 14,598 58,959 14,396
Other current assets 1,646 3,271 3,321 48,234
Cash and cash equivalents 59,733 63,468 27,473 19,009
Total assets 626,328 573,544 561,428 541,047
Equity 202,091 131,150 147,231 148,420
Grants and subsidies 5,718 5,564 5,285 5,113
Liabilities 416,730 433,894 402,991 385,252
Financial liabilities 395,924 420,086 391,628 370,753
Long-term liabilities 358,495 368,632 336,405 194,321
Short-term liabilities 58,235 65,262 66,586 190,931
Equity and liabilities 626,328 573,544 561,428 541,047

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

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) 5% -10% -1% 2%
Return on equity (ROE) 17% -35% -4% 9%
Return on capital employed (ROCE) 3% -11% 2% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.62 0.71 0.71 0.68
Current Ratio 1.51 1.36 1.42 0.47
Quick ratio 1.47 1.33 1.38 0.46
Turnover ratios
Asset turnover 0.12 0.11 0.14 0.15
Fixed asset turnover 0.14 0.13 0.16 0.18
Equity turnover 0.37 0.43 0.56 0.55
Profitability ratios
EBITDA margin 57% -45% 45% 43%
Operating profit margin 24% -86% 15% 15%
Net profit margin 42% -104% -8% 16%
Other ratios
Dividends to the State 5,453.74 0.00 0.00 3,623.50
Dividends paid / net profit 0.16 0.00 0.00 0.27

* Left axis

** Right axis

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

2021-06 2022-06 2023-06 2024-06
Capital return ratios
Return on assets (ROA) 3% -12% 3% 1%
Return on equity (ROE) 9% -43% 12% 4%
Return on capital employed (ROCE) 0% 1% 1% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.63 0.73 0.70 0.69
Current Ratio 1.32 1.28 1.38 0.44
Quick ratio 1.29 1.25 1.35 0.43
Turnover ratios
Asset turnover 0.05 0.06 0.08 0.08
Fixed asset turnover 0.06 0.07 0.09 0.09
Equity turnover 0.16 0.27 0.29 0.29
Profitability ratios
EBITDA margin 46% 47% 40% 51%
Operating profit margin 4% 14% 12% 23%
Net profit margin -21% -38% 19% 3%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2023 m. 6 mėn. tarpinės ataskaitos 2023 m. metinės ataskaitos
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. 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

Key performance indicator
Letter of Expectations

About the company

  • Official nameAB „KN Energies“
  • 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 State72.47%
  • Contacts https://www.kn.lt/
Return to the State

3.6 EUR milion

ROE

9.1%

Number of employees

371

Financial data provided as at end-December 2023

Management

  • Darius ŠilenskisChief Executive Officer

Information as of: 2024/12/02

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Jūratė LingienėIndependent member; SEB

MEMBERS OF THE BOARD OF DIRECTORS

  • Edvinas Katilius Independent member; PMI (Philip Morris International) Global Duty Free
  • Guy MasonIndependent member; Windward Limited
  • Alfonso Morriello Independent member; AXEGAZ Trading & Technologies
  • Karolis ŠvaikauskasMinistry of Energy

Information as of: 2024/12/02

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Robertas VyšniauskasIndependent member; UAB EPSO-G; Vilnius University; UAB Vilniaus vystymo kompanija; UAB Valstybės investicinis kapitalas

SUPERVISORY BOARD MEMBERS

  • Mantas ŠukevičiusIndependent member; UAB Demus asset management; MB Buteo Invest; JSCB “Biznesni rivojlantirish banki”; AB Detonas; AB Oro navigacija
  • Dovilė KavaliauskienėMinistry of Energy

Information as of: 2024/12/02

VMU
ltg
RC
LP
TB
IGN
KN
IAE
EPSO