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.

          2024/25 GOOD CORPORATE GOVERNANCE INDEX

   KN_2025        

SK – Transparency Dimension
SV – Strategic Management Dimension
TV – Sustainability Dimension
AV – Shareholder Actions Dimension
GI – Good Governance Indicator

Financial results

P/L Statment

2021 2022 2023 2024
Revenue 61,811 77,818 83,525 93,655
Cost of goods sold 53,109 57,703 60,024 54,518
Gross profit (loss) 8,702 20,115 23,501 39,137
Gross profit margin 14% 26% 28% 42%
Operating expenses 0 0 10,963 14,765
Operating profit (loss) -1,763 5,909 9,277 -3,228
Operating profit margin -86% 15% 15% 26%
EBITDA -27,519 34,857 39,013 43,652
EBITDA margin -45% 45% 47% 47%
Net profit (loss) * -64,011 -5,904 13,226 15,366
Net profit margin -104% -8% 16% 16%
* The presented net profit figure is accounting-based and may differ from the adjusted net profit (according to the principles chosen by the company).
2022-06 2023-06 2024-06 2025-06
Revenue 35,976 42,398 42,614 51,083
Cost of goods sold 26,958 31,824 25,382 30,845
Gross profit (loss) 9,018 10,574 17,232 20,238
Gross profit margin 25% 25% 40% 40%
Operating expenses 0 0 0 0
Operating profit (loss) 5,206 5,222 9,955 13,810
Operating profit margin 14% 12% 23% 27%
EBITDA 16,885 16,784 17,128 28,039
EBITDA margin 47% 40% 40% 55%
Net profit (loss) -13,848 8,100 1,459 8,588
Net profit margin -38% 19% 3% 17%

* Left axis

** Right axis

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

Balance sheet

2021 2022 2023 2024
Non-current assets 493,240 481,050 457,271 446,433
Intangible assets 456 793 643 469
Tangible assets 150,686 145,800 140,709 426,752
Financial assets 226 261 207 115
Other non-current assets 341,872 334,196 315,712 19,097
Current assets 78,841 92,883 96,792 88,741
Inventories and prepaid expenses 1,798 2,120 1,608 1,937
Accounts receivable in one year 12,255 15,069 13,326 19,202
Other current assets 3,271 3,271 62,323 50,399
Cash and cash equivalents 61,517 72,423 19,535 17,203
Total assets 572,081 573,933 554,063 535,174
Equity 144,713 139,100 153,248 163,128
Grants and subsidies 5,771 5,468 5,115 4,942
Liabilities 418,001 423,702 388,337 360,321
Financial liabilities 407,028 409,388 374,465 346,018
Long-term liabilities 360,181 358,142 183,980 326,859
Short-term liabilities 57,820 65,560 204,357 33,462
Equity and liabilities 572,081 573,933 554,063 535,174
2022-06 2023-06 2024-06 2025-06
Non-current assets 490,010 469,676 457,612 436,445
Intangible assets 859 700 530 388
Tangible assets 148,233 142,383 146,579 417,005
Financial assets 234 111 138 117
Other non-current assets 340,684 326,482 310,365 18,935
Current assets 83,534 91,752 83,435 89,533
Inventories and prepaid expenses 2,197 1,999 1,796 1,719
Accounts receivable in one year 14,598 58,959 14,396 15,141
Other current assets 3,271 3,321 48,234 51,282
Cash and cash equivalents 63,468 27,473 19,009 21,391
Total assets 573,544 561,428 541,047 525,978
Equity 131,150 147,231 148,420 163,085
Grants and subsidies 5,564 5,285 5,113 4,768
Liabilities 433,894 402,991 385,252 352,207
Financial liabilities 420,086 391,628 370,753 336,150
Long-term liabilities 368,632 336,405 194,321 318,373
Short-term liabilities 65,262 66,586 190,931 33,834
Equity and liabilities 573,544 561,428 541,047 525,978

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

Financial ratios

2021 2022 2023 2024
Capital return ratios
Return on assets (ROA) -10% -1% 2% 3%
Return on equity (ROE) -35% -4% 9% 10%
Return on capital employed (ROCE) -11% 2% 4% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.71 0.71 0.68 0.65
Current Ratio 1.36 1.42 0.47 2.65
Quick ratio 1.33 1.38 0.47 2.59
Turnover ratios
Asset turnover 0.11 0.14 0.15 0.17
Fixed asset turnover 0.13 0.16 0.18 0.21
Equity turnover 0.43 0.56 0.55 0.57
Profitability ratios
EBITDA margin -45% 45% 47% 47%
Operating profit margin -86% 15% 15% 26%
Net profit margin -104% -8% 16% 16%
Other ratios
Dividends to the State 0.00 0.00 3,623.50 6,248.36
Dividends paid / net profit 0.00 0.00 0.27 0.41

* Left axis

** Right axis

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

2022-06 2023-06 2024-06 2025-06
Capital return ratios
Return on assets (ROA) -12% 3% 1% 4%
Return on equity (ROE) -43% 12% 4% 14%
Return on capital employed (ROCE) 1% 1% 3% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.73 0.70 0.69 0.64
Current Ratio 1.28 1.38 0.44 2.65
Quick ratio 1.25 1.35 0.43 2.60
Turnover ratios
Asset turnover 0.06 0.08 0.08 0.10
Fixed asset turnover 0.07 0.09 0.09 0.12
Equity turnover 0.27 0.29 0.29 0.31
Profitability ratios
EBITDA margin 47% 40% 40% 55%
Operating profit margin 14% 12% 23% 27%
Net profit margin -38% 19% 3% 17%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2024 m. 6 mėn. tarpinės ataskaitos 2024 m. metinės ataskaitos
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.knenergies.lt
Return to the State

6.2 EUR milion

ROE

9.7%

Number of employees

395

Financial data provided as at end-December 2024

Management

  • Darius ŠilenskisChief Executive Officer

Term of office expires: 2029/11/12

The information is relevant

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Jūratė LingienėIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Gediminas AlmantasIndependent member
  • Guy MasonIndependent member
  • Alfonso Morriello Independent member
  • Karolis ŠvaikauskasMinistry of Energy

Term of office expires: 2026/04/25

The information is relevant

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Robertas VyšniauskasIndependent member

SUPERVISORY BOARD MEMBERS

  • Mantas ŠukevičiusIndependent member
  • Aurimas SalapėtaMinistry of Energy

Term of office expires: 2026/10/19

The information is relevant

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