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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

Lietuvos automobilių kelių direkcija started its activities on September 1, 2020, following the completion of the restructuring of the budgetary institution Lietuvos automobilių kelių direkcija under the Ministry of Transport and Communications. The new state enterprise is the country’s strategic enterprise for the management of roads of national importance. After the restructuring, the mission of the company remains the same – to create and ensure safe, convenient, environmentally friendly and intelligent transport for the public 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 2022-2024

  • RDP investment ratio,%:
    • 2022 > 97
    • 2023 > 98
    • 2024 > 99
  • Company process documentation (optimization) level (PDL,%):
    • 2022 > 25
    • 2023 > 45
    • 2024 >  60
  • 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 2024 reduced to max 33
  • Employee engagement rate,%:
    • 2022 > 60
    • 2023 > 61
    • 2024 > 62

        2021/22 GOOD CORPORATE GOVERNANCE INDEX       


        2020/21 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
Revenue 3,975 10,699
Cost of goods sold 3,776 10,301
Gross profit (loss) 199 398
Gross profit margin 5% 4%
Operating expenses
Operating profit (loss) 199 398
Operating profit margin 5% 4%
EBITDA 560 1,993
EBITDA margin 14% 19%
Net profit (loss) 940 2,340
Net profit margin 24% 22%
2021-06 2022-06
Revenue 6,686 7,887
Cost of goods sold 4,979 5,827
Gross profit (loss) 1,707 2,060
Gross profit margin % %
Operating expenses
Operating profit (loss) 1,707 2,060
Operating profit margin % %
EBITDA 3,955 2,911
EBITDA margin 59% 37%
Net profit (loss) 2,909 1,865
Net profit margin 44% 24%

Balance sheet

2020 2021
Non-current assets 3,230,581 3,425,988
Intangible assets 3,142 3,476
Tangible assets 3,227,439 3,422,512
Financial assets
Other non-current assets
Current assets 47,480 51,086
Inventories and prepaid expenses 1,892 395
Accounts receivable in one year 38,427 30,604
Other current assets
Cash and cash equivalents 7,161 20,087
Total assets 3,278,740 3,477,902
Equity 2,693,140 2,606,740
Grants and subsidies 528,524 808,059
Liabilities 57,075 63,103
Financial liabilities 458 485
Long-term liabilities 10,451 9,928
Short-term liabilities 46,624 53,175
Equity and liabilities 3,278,740 3,477,902
2021-06 2022-06
Non-current assets 3,312,419 3,406,520
Intangible assets 3,450 2,860
Tangible assets 3,308,969 3,403,660
Financial assets
Other non-current assets
Current assets 94,031 67,937
Inventories and prepaid expenses 2,117 492
Accounts receivable in one year 86,497 58,078
Other current assets 9,367
Cash and cash equivalents 5,417
Total assets 3,407,283 3,475,407
Equity 2,649,802 2,673,478
Grants and subsidies 654,562 720,661
Liabilities 102,918 79,481
Financial liabilities
Long-term liabilities 10,213 9,719
Short-term liabilities 92,705 69,762
Equity and liabilities 3,407,283 3,475,407

Financial ratios

2020 2021
Capital return ratios
Return on assets (ROA) 0% 0%
Return on equity (ROE) 0% 0%
Return on capital employed (ROCE) 0% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00
Current Ratio 1.02 0.96
Quick ratio 0.98 0.95
Turnover ratios
Asset turnover 0.00 0.00
Fixed asset turnover 0.00 0.00
Equity turnover 0.00 0.00
Profitability ratios
EBITDA margin 14% 19%
Operating profit margin 5% 4%
Net profit margin 24% 22%
Other ratios
Dividends to the State 1,154.00 2,104.00
Dividends paid / net profit 1.23 0.90
2021-06 2022-06
Capital return ratios
Return on assets (ROA) 0% 0%
Return on equity (ROE) 0% 0%
Return on capital employed (ROCE) 0% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00
Current Ratio 1.01 0.97
Quick ratio 0.99 0.97
Turnover ratios
Asset turnover 0.00 0.00
Fixed asset turnover 0.00 0.00
Equity turnover 0.01 0.00
Profitability ratios
EBITDA margin 59% 37%
Operating profit margin % %
Net profit margin 44% 24%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity undefined

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

0.1%

Number of employees

277

Financial data provided as at end-December 2021

Management

  • Remigijus LipkevičiusDirector General

Information as of: 2023/01/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vaidotas BalynasUAB Gelex; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Agnė Amelija MikalonėMinistry of Transport and Communications
  • Rūta Butautaitė-PivoriūnienėUAB Nasdaq Vilnius Services; Independent member
  • Saulius BarauskasUAB Vilniaus vystymo kompanija; Independent member

Information as of: 2023/01/01