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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.

          2023/24 GOOD CORPORATE GOVERNANCE INDEX

        

         2022/23 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 2022 2023
Revenue 1,223,090 1,898,657 4,386,899 2,549,050
Cost of goods sold 705,729 1,380,882 3,608,723 1,757,691
Gross profit (loss) 517,361 517,775 778,176 791,359
Gross profit margin 42% 27% 18% 31%
Operating expenses 0 0 0 0
Operating profit (loss) 215,000 192,009 387,792 352,178
Operating profit margin 18% 10% 9% 14%
EBITDA 328,374 314,612 525,521 505,274
EBITDA margin 27% 17% 12% 20%
Net profit (loss) 170,588 160,097 293,435 320,201
Net profit margin 14% 8% 7% 13%
2021-06 2022-06 2023-06 2024-06
Revenue 738,149 1,733,120 1,370,387 1,092,326
Cost of goods sold 484,842 1,367,625 1,003,003 646,070
Gross profit (loss) 253,307 365,495 367,384 446,256
Gross profit margin 34% 21% 27% 41%
Operating expenses 0 0 0 0
Operating profit (loss) 109,523 141,893 164,691 207,845
Operating profit margin 15% 8% 12% 19%
EBITDA 169,145 209,781 238,133 293,276
EBITDA margin 23% 12% 17% 27%
Net profit (loss) 60,938 114,832 155,696 168,360
Net profit margin 8% 7% 11% 15%

* Left axis

** Right axis

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

Balance sheet

2020 2021 2022 2023
Non-current assets 2,886,385 2,867,375 3,249,138 4,215,954
Intangible assets 94,837 114,035 148,273 315,358
Tangible assets 2,559,554 2,617,927 2,810,936 3,362,533
Financial assets 146,980 91,815 28,930 76,298
Other non-current assets 85,014 43,598 260,999 461,765
Current assets 1,010,425 1,233,814 1,980,469 998,892
Inventories and prepaid expenses 77,761 250,232 656,978 284,185
Accounts receivable in one year 203,244 500,931 572,083 374,559
Other current assets 70,152 33,218 56,912 134,429
Cash and cash equivalents 658,795 449,073 694,062 205,261
Total assets 3,920,934 4,258,188 5,271,653 5,244,254
Equity 1,813,293 1,855,916 2,125,600 2,263,415
Grants and subsidies 277,109 279,134 296,804 300,062
Liabilities 1,551,800 1,801,819 2,388,533 2,259,670
Financial liabilities 1,294,990 1,182,897 1,498,107 1,610,523
Long-term liabilities 1,321,462 1,211,959 1,544,250 1,717,540
Short-term liabilities 230,338 589,860 844,283 542,130
Equity and liabilities 3,920,934 4,258,188 5,271,653 5,244,254
2021-06 2022-06 2023-06 2024-06
Non-current assets 3,018,338 2,992,828 3,636,381 4,503,559
Intangible assets 211,207 119,176 180,237 323,291
Tangible assets 2,589,601 2,660,262 2,971,771 3,666,785
Financial assets 177,891 17,152 67,640 124,775
Other non-current assets 39,639 196,238 416,733 388,708
Current assets 39,704 370,532 27,400 41,640
Inventories and prepaid expenses 116,209 425,031 280,886 245,558
Accounts receivable in one year 143,436 463,669 359,966 277,926
Other current assets 60,649 16,112 18,792 21,244
Cash and cash equivalents 678,412 346,167 725,773 275,834
Total assets 4,057,421 4,614,467 5,049,667 5,366,093
Equity 1,899,832 2,127,779 2,083,595 2,369,441
Grants and subsidies 282,508 283,586 309,250 295,210
Liabilities 1,618,829 1,905,975 2,227,526 2,263,595
Financial liabilities 1,168,161 1,365,939 1,606,347 1,663,496
Long-term liabilities 1,219,852 1,388,382 1,646,189 1,749,944
Short-term liabilities 398,977 517,593 581,337 513,651
Equity and liabilities 4,057,421 4,614,467 5,049,667 5,366,093

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

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) 5% 4% 6% 6%
Return on equity (ROE) 11% 9% 15% 15%
Return on capital employed (ROCE) 7% 6% 11% 9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.33 0.33 0.32 0.31
Current Ratio 4.39 2.09 2.35 1.84
Quick ratio 4.05 1.67 1.57 1.32
Turnover ratios
Asset turnover 0.31 0.45 0.83 0.49
Fixed asset turnover 0.42 0.66 1.35 0.60
Equity turnover 0.67 1.02 2.06 1.13
Profitability ratios
EBITDA margin 27% 17% 12% 20%
Operating profit margin 18% 10% 9% 14%
Net profit margin 14% 8% 7% 13%
Other ratios
Dividends to the State 73,432.00 64,001.27 67,747.47 69,809.84
Dividends paid / net profit 0.43 0.40 0.23 0.22

* Left axis

** Right axis

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

2021-06 2022-06 2023-06 2024-06
Capital return ratios
Return on assets (ROA) 4% 5% 7% 6%
Return on equity (ROE) 10% 11% 16% 15%
Return on capital employed (ROCE) 4% 4% 4% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.32 0.33 0.34 0.31
Current Ratio 2.50 2.42 2.38 1.60
Quick ratio 2.21 1.60 1.90 1.12
Turnover ratios
Asset turnover 0.18 0.38 0.27 0.20
Fixed asset turnover 0.24 0.58 0.38 0.24
Equity turnover 0.39 0.81 0.66 0.46
Profitability ratios
EBITDA margin 23% 12% 17% 27%
Operating profit margin 15% 8% 12% 19%
Net profit margin 8% 7% 11% 15%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

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

69.8 EUR milion

ROE

14.6%

Number of employees

4,404

Financial data provided as at end-December 2023

Management

  • Darius MaikštėnasChief Executive Officer

Information as of: 2024/12/02

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Darius MaikštėnasAB Ignitis grupė; AB Energijos skirstymo operatorius

MEMBERS OF THE BOARD OF DIRECTORS

  • Živilė SkibarkienėAB Ignitis grupė; AB Energijos skirstymo operatorius; UAB Ignitis grupės paslaugų centras
  • Jonas RimavičiusAB Ignitis grupė; UAB Ignitis renewables; UAB Vilniaus kogeneracinė jėgainė; ; UAB Ignitis renewables offshore develpment; UAB Ignitis renewables projektai 5; UAB Ignitis renewables projektai 6
  • Vidmantas SalietisAB Ignitis grupė; AB Ignitis gamyba; UAB Ignitis renewables; UAB Ignitis
  • Mantas MikalajūnasAB Ignitis grupė; AB Ignitis gamyba; UAB Ignitis; UAB Vilniaus kogeneracinė jėgainė; UAB Kauno kogeneracinė jėgainė

Information as of: 2024/12/02

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Alfonso FaubelIndependent member; JERA Nex Limited

SUPERVISORY BOARD MEMBERS

  • Judith BussIndependent member; Uniper SE
  • Lorraine WrafterIndependent member; The Problem
  • Tim BrooksIndependent member; LEGO System A/S; Global Action Plan; Honnold Foundation
  • Aušra VičkačkienėMinistry of Finance
  • Ingrida MuckutėMinistry of Finance; COUNTLINE lecturer
  • Sian Lloyd ReesIndependent member; Ricardo plc; Serica Energy plc; Aberdeen harbour ltd

Information as of: 2024/12/02

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