Lietuvos automobilių kelių direkcija
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%.
- 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
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
| 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% |
| 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
| 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 |
| 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
| 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 | |
|---|---|---|
| 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%
ROE
0.0%
Number of employees
293
Financial data provided as at end-December 2022
Management
- Marius ŠvaikauskasChief Executive Officer
Information as of: 2023/09/01
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 BarauskasIndependent member
- Tadas JagminasIndependent member, "Investuok Lietuvoje" Director of Project Management Department
Information as of: 2023/09/01
