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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

The joint-stock company Lithuanian Road Directorate was transformed from a state enterprise on 2 January, 2023. After the transformation, the company remains on the list of companies of national security importance, managing roads of national importance on a trust basis. The mission of the Road Directorate is to create and ensure for the public safe, comfortable, environmentally friendly and intelligent transport on Lithuanian roads.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual EBITDA:
    • 2022–2023 ≥ 2,3 ml. Eur,
    • 2024 ≥ 57 ml. Eur
  • Investment financing structure:
    • 2022–2024 the share of investments made with non-RDP funds (borrowed, EU or other) ≥ 30%.

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025

  • RDP investment ratio,%:
    • 2023 > 98
    • 2024-2025 > 99
  • Company process documentation (optimization) level (PDL,%):
    • 2023 > 45
    • 2024 > 60
    • 2025 m. > 75
  • Proportion of asphalt paved roads of state significance, the value of the road surface condition index (DBI) of which exceeds the permissible limits, in the network of asphalt paved roads of state significance, percent:
    • by 2025 reduced to max 31
  • Employee engagement rate,%:
    • 2023 > 64
    • 2024 > 65
    • 2025 > 66

        2022/23 GOOD CORPORATE GOVERNANCE INDEX

            


        2021/22 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

2019 2020 2021 2022
Revenue 3,975 10,699 13,123
Cost of goods sold 3,776 10,301 12,467
Gross profit (loss) 0 199 398 656
Gross profit margin % 5% 4% 5%
Operating expenses
Operating profit (loss) 0 199 398 656
Operating profit margin % 5% 4% 5%
EBITDA 0 560 1,702 2,278
EBITDA margin % 14% 16% 17%
Net profit (loss) 0 940 2,340 782
Net profit margin % 24% 22% 6%
2020-06 2021-06 2022-06 2023-06
Revenue 6,686 7,887 8,178
Cost of goods sold 4,979 5,828 7,769
Gross profit (loss) 0 1,707 2,060 409
Gross profit margin % 26% 26% 5%
Operating expenses 0 0 0 0
Operating profit (loss) 0 1,707 2,060 409
Operating profit margin % 26% 26% 5%
EBITDA 0 3,955 -673 2,300
EBITDA margin % 59% -9% 28%
Net profit (loss) 0 2,909 73 866
Net profit margin % 44% 1% 11%

Balance sheet

2019 2020 2021 2022
Non-current assets 0 3,230,581 3,425,988 3,490,689
Intangible assets 3,142 3,476 2,345
Tangible assets 3,227,439 3,422,512 3,488,344
Financial assets 0
Other non-current assets 0
Current assets 0 47,480 51,086 55,621
Inventories and prepaid expenses 1,892 395 25,752
Accounts receivable in one year 38,427 30,604 17,038
Other current assets 0
Cash and cash equivalents 7,161 20,087 12,831
Total assets 0 3,278,740 3,477,902 3,547,385
Equity 0 2,693,140 2,606,740 2,887,013
Grants and subsidies 528,524 808,059 624,653
Liabilities 0 57,075 63,103 31,173
Financial liabilities 0 458 485 509
Long-term liabilities 10,451 9,928 9,419
Short-term liabilities 46,624 53,175 21,754
Equity and liabilities 0 3,278,740 3,477,902 3,547,385
2020-06 2021-06 2022-06 2023-06
Non-current assets 0 3,312,419 3,406,520 23,802
Intangible assets 3,450 2,860 4,312
Tangible assets 3,308,969 3,403,660 10,157
Financial assets 9,333
Other non-current assets 0
Current assets 0 94,031 67,937 86,320
Inventories and prepaid expenses 2,117 492 3,902
Accounts receivable in one year 86,497 58,078 59,976
Other current assets 9,367 0
Cash and cash equivalents 5,417 22,441
Total assets 0 3,407,283 3,475,407 110,804
Equity 0 2,649,802 2,673,478 16,904
Grants and subsidies 654,562 720,661 3,589
Liabilities 0 102,918 79,481 84,231
Financial liabilities 0 0 0 511
Long-term liabilities 0 10,213 9,719 9,333
Short-term liabilities 0 92,705 69,762 74,898
Equity and liabilities 0 3,407,283 3,475,407 110,804

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) % 0% 0% 0%
Return on equity (ROE) % 0% 0% 0%
Return on capital employed (ROCE) % 0% 0% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00
Current Ratio 1.02 0.96 2.56
Quick ratio 0.98 0.95 1.37
Turnover ratios
Asset turnover 0.00 0.00 0.00
Fixed asset turnover 0.00 0.00 0.00
Equity turnover 0.00 0.00 0.00
Profitability ratios
EBITDA margin % 14% 16% 17%
Operating profit margin % 5% 4% 5%
Net profit margin % 24% 22% 6%
Other ratios
Dividends to the State 0.00 1,154.00 2,104.00 0.00
Dividends paid / net profit 1.23 0.90 0.00
2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 0% -0% 0%
Return on equity (ROE) 0% -0% 0%
Return on capital employed (ROCE) 0% 0% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00
Current Ratio 1.01 0.97 1.15
Quick ratio 0.99 0.97 1.10
Turnover ratios
Asset turnover 0.00 0.00 0.07
Fixed asset turnover 0.00 0.00 0.34
Equity turnover 0.00 0.00 0.48
Profitability ratios
EBITDA margin 59% -9% 28%
Operating profit margin 26% 26% 5%
Net profit margin 44% 1% 11%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

About the company

  • Official nameAB Lietuvos automobilių kelių direkcija
  • Legal formPublic limited liability company (AB)
  • Company code188710638
  • SectorOther
  • Line of businessRestoration, maintenance and development of state roads
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
https://lakd.lt/
ROE

0.0%

Number of employees

293

Financial data provided as at end-December 2022

Management

  • Marius ŠvaikauskasChief Executive Officer

Information as of: 2024/02/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vaidotas BalynasIndependent member; UAB Gelex; UAB Plungės vandenys

MEMBERS OF THE BOARD OF DIRECTORS

  • Agnė Amelija MikalonėMinistry of Transport and Communications; AB Lietuvos geležinkeliai
  • Rūta Butautaitė-PivoriūnienėIndependent member; UAB Nasdaq Vilnius Services
  • Tadas JagminasIndependent member; Investuok Lietuvoje Director of Project Management Department

Information as of: 2024/02/01