Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

Ignitis Group is an international energy company and one of the largest energy groups in the Baltic States. Ignitis Group operates companies in Lithuania, Latvia, Estonia, Poland and Finland. The group’s main activities are the generation and supply of electricity and heat, the trading and distribution of electricity and natural gas, and the implementation of innovative energy solutions. In all its activities, Ignitis Group focuses on its commitment to creating an energy-smart world and a more sustainable future. Ignitis Group’s securities are traded on the Nasdaq Vilnius Stock Exchange and its international depositary receipts are traded on the London Stock Exchange.

          2024/25 GOOD CORPORATE GOVERNANCE INDEX

             Ignitis_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 1,898,657 4,386,899 2,549,050 2,307,024
Cost of goods sold 1,380,882 3,608,723 1,757,691 1,444,691
Gross profit (loss) 517,775 778,176 791,359 862,333
Gross profit margin 27% 18% 31% 37%
Operating expenses 0 0 0 0
Operating profit (loss) 44,493 -46,701 36,879 48,933
Operating profit margin 10% 9% 14% 15%
EBITDA 314,612 525,521 540,338 531,498
EBITDA margin 17% 12% 21% 23%
Net profit (loss) * 160,097 293,435 320,201 276,154
Net profit margin 8% 7% 13% 12%
* 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 1,733,120 1,370,387 1,092,326 1,297,980
Cost of goods sold 1,367,625 1,003,003 646,070 849,417
Gross profit (loss) 365,495 367,384 446,256 448,563
Gross profit margin 21% 27% 41% 35%
Operating expenses 0 0 0 0
Operating profit (loss) 141,893 164,691 207,845 160,298
Operating profit margin 8% 12% 19% 12%
EBITDA 209,781 238,133 297,841 254,689
EBITDA margin 12% 17% 27% 20%
Net profit (loss) 114,832 155,696 168,360 111,376
Net profit margin 7% 11% 15% 9%

* 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 2,867,375 3,249,138 4,215,954 4,750,271
Intangible assets 114,035 148,273 315,358 305,795
Tangible assets 2,617,927 2,810,936 3,362,533 4,027,441
Financial assets 91,815 28,930 113,265 62,632
Other non-current assets 43,598 260,999 424,798 354,403
Current assets 1,233,814 1,980,469 998,892 932,861
Inventories and prepaid expenses 250,232 656,978 284,185 258,220
Accounts receivable in one year 500,931 572,083 374,559 366,221
Other current assets 33,218 56,912 134,429 73,360
Cash and cash equivalents 449,073 694,062 205,261 234,536
Total assets 4,258,188 5,271,653 5,244,254 5,706,041
Equity 1,855,916 2,125,600 2,263,415 2,436,759
Grants and subsidies 279,134 296,804 300,062 287,514
Liabilities 1,801,819 2,388,533 2,259,670 2,512,763
Financial liabilities 1,182,897 1,498,107 1,610,523 1,836,201
Long-term liabilities 1,211,959 1,544,250 1,717,540 1,882,746
Short-term liabilities 844,283 542,130 630,017
Equity and liabilities 4,258,188 5,271,653 5,244,254 5,706,041
2022-06 2023-06 2024-06 2025-06
Non-current assets 2,992,828 3,636,381 4,503,559 5,017,521
Intangible assets 119,176 180,237 323,291 305,740
Tangible assets 2,660,262 2,971,771 3,666,785 4,436,107
Financial assets 17,152 67,640 124,775 55,219
Other non-current assets 196,238 416,733 388,708 220,455
Current assets 1,250,979 1,385,886 820,894 837,108
Inventories and prepaid expenses 425,031 280,886 245,558 240,412
Accounts receivable in one year 463,669 359,966 277,926 249,783
Other current assets 16,112 18,792 21,244 74,050
Cash and cash equivalents 346,167 725,773 275,834 269,324
Total assets 4,614,467 5,049,667 5,366,093 5,897,272
Equity 2,127,779 2,083,595 2,369,441 2,491,962
Grants and subsidies 283,586 309,250 295,210 279,200
Liabilities 1,905,975 2,227,526 2,263,595 2,513,233
Financial liabilities 1,365,939 1,606,347 1,663,496 1,807,686
Long-term liabilities 1,388,382 1,646,189 1,749,944 1,779,751
Short-term liabilities 517,593 581,337 513,651 733,482
Equity and liabilities 4,614,467 5,049,667 5,366,093 5,897,272

* 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) 4% 6% 6% 5%
Return on equity (ROE) 9% 15% 15% 12%
Return on capital employed (ROCE) 6% 11% 9% 8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.33 0.32 0.31 0.32
Current Ratio 2.09 2.35 1.84 1.48
Quick ratio 1.67 1.57 1.32 1.07
Turnover ratios
Asset turnover 0.45 0.83 0.49 0.40
Fixed asset turnover 0.66 1.35 0.60 0.49
Equity turnover 1.02 2.06 1.13 0.95
Profitability ratios
EBITDA margin 17% 12% 21% 23%
Operating profit margin 10% 9% 14% 15%
Net profit margin 8% 7% 13% 12%
Other ratios
Dividends to the State 64,001.27 67,747.47 69,809.84 71,981.40
Dividends paid / net profit 0.40 0.23 0.22 0.26

* 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) 5% 7% 6% 4%
Return on equity (ROE) 11% 16% 15% 9%
Return on capital employed (ROCE) 4% 4% 5% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.33 0.34 0.31 0.32
Current Ratio 2.42 2.38 1.60 1.14
Quick ratio 1.60 1.90 1.12 0.81
Turnover ratios
Asset turnover 0.38 0.27 0.20 0.22
Fixed asset turnover 0.58 0.38 0.24 0.26
Equity turnover 0.81 0.66 0.46 0.52
Profitability ratios
EBITDA margin 12% 17% 27% 20%
Operating profit margin 8% 12% 19% 12%
Net profit margin 7% 11% 15% 9%
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. metinės 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. 9 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos 2012 m. 9 mėn. tarpinės 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
2010 m. metinės ataskaitos
2011 m. metinės ataskaitos

Expectations of the state

Key performance indicator
Letter of Expectations

About the company

  • Official nameIgnitis grupė, AB
  • Legal formPrivate limited liability company (UAB)
  • Company code301844044
  • SectorEnergy
  • Line of businessGroup of energy enterprises
  • Institution representing the StateMinistry of Finance
  • Share belonging to the State74.99%
  • Contacts https://www.ignitisgrupe.lt/
Return to the State

72.0 EUR milion

ROE

11.8%

Number of employees

4,688

Financial data provided as at end-December 2024

Management

  • Darius MaikštėnasChief Executive Officer

Term of office expires: 2027/02/18

The information is relevant

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Darius MaikštėnasCEO

MEMBERS OF THE BOARD OF DIRECTORS

  • Živilė SkibarkienėChief Organisational Development Officer
  • Jonas RimavičiusChief Finance Officer
  • Vytenis KoryznaChief Commercial Officer
  • Mantas MikalajūnasChief Regulatory Officer

Term of office expires: 2030/03/26

The information is relevant

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Alfonso Maximiliano Faubel FrauendorffIndependent member

SUPERVISORY BOARD MEMBERS

  • Judith BussIndependent member
  • Lorraine Mary WrafterIndependent member
  • Timothy Guy BrooksIndependent member
  • Aušra VičkačkienėMinistry of Finance
  • Ingrida MuckutėMinistry of Finance
  • Sian Lloyd ReesIndependent member
  • Jutta Maria Hildegard DissenIndependent member
  • Lina LiubauskaitėGovernment of the Republic of Lithuania

Term of office expires:  2029/10/26 

The information is relevant

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