• English
  • Lithuanian
Valdymo koordinavimo centras

State Owned Enterprises

“Ignitis grupė” (formerly UAB “Lietuvos energija”) is a company that controlls electricity companies. Company group was created by the Lithuanian energy sector restructuring plan, in 2010, after the company transferred VST and East Distribution Networks, Lietuvos Energija (now “Ignitis gamyba”), shares of Lithuanian power plant and their subsidiaries. According to the requirements of the EU third energy package, at the end of September 2012, shares of the electricity transmission system operator Litgrid (belonging to the group) were transferred to the newly established state-owned private limited company EPSO-G.

Financial results

P/L Statment

2016 2017 2018 2019
Revenue 1,101,630 1,100,831 1,070,060 1,090,627
Cost of goods sold 727,427 740,491 795,007 734,656
Gross profit (loss) 374,203 360,340 275,053 355,971
Gross profit margin 34% 33% 26% 33%
Operating expenses 226,852 263,207 295,446 273,178
Operating profit (loss) 147,351 97,133 -20,393 82,793
Operating profit margin 13% 9% -2% 8%
EBITDA 225,869 184,490 67,270 192,682
EBITDA margin 21% 17% 6% 18%
Net profit (loss) 118,438 93,525 -21,971 58,976
Net profit margin 11% 8% -2% 5%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 536,970 625,994 557,867 590,912
Cost of goods sold 373,628 457,679 511,837 497,502
Gross profit (loss) 163,342 168,315 46,030 93,410
Gross profit margin 30% 27% 8% 16%
Operating expenses 107,235 99,041
Operating profit (loss) 56,107 69,274 46,030 93,410
Operating profit margin 10% 11% 8% 16%
EBITDA 99,215 111,985 110,704 147,933
EBITDA margin 18% 18% 20% 25%
Net profit (loss) 2,462 6,410 28,839 71,925
Net profit margin 10% 9% 5% 12%

Balance sheet

2016 2017 2018 2019
Non-current assets 2,061,183 2,015,468 2,411,007 2,770,560
Intangible assets 32,261 36,360 106,330 142,737
Tangible assets 1,770,814 1,761,082 2,091,386 2,347,817
Financial assets
Other non-current assets 258,108 218,026 213,291 280,006
Biological assets
Current assets 370,068 489,600 442,884 427,526
Inventories and prepaid expenses 44,183 94,985 73,792 97,169
Accounts receivable in one year 141,247 140,363 168,556 149,647
Other current assets 5,195 3,195 6,995 8,230
Cash and cash equivalents 178,565 171,756 127,835 131,837
Total assets 2,432,152 2,505,068 2,853,891 3,198,086
Equity 1,319,547 1,343,626 1,302,522 1,348,620
Minority share of capital 51,172 45,796 47,558 49,001
Grants and subsidies 284,929 200,311 208,874 267,949
Liabilities 757,513 886,754 1,193,949 1,414,536
Financial liabilities 494,391 614,081 844,956 1,056,120
Long-term liabilities 417,534 523,610 788,040 895,038
Short-term liabilities 323,842 358,753 364,996 464,116
Equity and liabilities 2,432,152 2,505,068 2,853,891 3,198,086
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 2,032,260 2,123,973 2,580,295 2,887,889
Intangible assets 30,256 80,611 132,492 143,625
Tangible assets 1,781,162 1,832,236 2,233,144 2,547,645
Financial assets 169,635 177,579
Other non-current assets 220,842 211,126 45,024 19,040
Biological assets
Current assets 261,798 333,802 357,195 499,189
Inventories and prepaid expenses 49,926 77,077 31,107 26,193
Accounts receivable in one year 103,757 120,729 163,791 189,731
Other current assets 4,337 5,200
Cash and cash equivalents 103,778 130,796 162,297 283,265
Total assets 2,320,512 2,552,295 2,990,550 3,400,434
Equity 1,309,636 1,266,022 1,349,033 1,337,816
Minority share of capital 51,666 44,068 50,338 2,486
Grants and subsidies 276,120 207,866 282,258
Liabilities 734,036 1,077,721 1,636,020 1,605,093
Financial liabilities 400,688 682,762 830,067 1,249,354
Long-term liabilities 386,624 785,473 1,186,825 1,300,114
Short-term liabilities 347,412 292,248 410,511 251,846
Equity and liabilities 2,320,512 2,552,295 2,990,550 3,400,434

Financial ratios

2016 2017 2018 2019
Capital return ratios
Return on assets (ROA) 5% 4% -1% 2%
Return on equity (ROE) 9% 7% -2% 4%
Return on capital employed (ROCE) 14% 9% -2% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.37 0.46 0.65 0.78
Current Ratio 1.15 1.36 1.21 0.92
Quick ratio 1.01 1.10 1.01 0.71
Turnover ratios
Asset turnover 0.46 0.45 0.40 0.36
Fixed asset turnover 0.55 0.54 0.48 0.42
Equity turnover 0.84 0.83 0.81 0.82
Profitability ratios
EBITDA margin 21% 17% 6% 18%
Operating profit margin 13% 9% -2% 8%
Net profit margin 11% 8% -2% 5%
Other ratios
Dividends to the State 100,706.00 78,265.43 13,000.00 28,000.00
Dividends paid / net profit 0.85 0.84 -0.59 0.47
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) 4% 5% -1% 3%
Return on equity (ROE) 7% 10% -2% 8%
Return on capital employed (ROCE) 9% 6% 4% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.46 0.54 0.72 0.94
Current Ratio 1.36 1.14 0.87 1.98
Quick ratio 1.10 0.88 0.79 1.88
Turnover ratios
Asset turnover 0.45 0.26 0.20 0.18
Fixed asset turnover 0.54 0.30 0.24 0.22
Equity turnover 0.83 0.49 0.43 0.44
Profitability ratios
EBITDA margin 17% 18% 20% 25%
Operating profit margin 9% 11% 8% 16%
Net profit margin 8% 9% 5% 12%
Other ratios
Dividends to the State 78,265.43
Dividends paid / net profit 0.84

Expectations of the state

Target return on equity

6.6%

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 State100%
https://www.ignitis.lt/
Return to the State

28.0 EUR milion

ROE

4.4%

Number of employees

3,859

Financial data provided as at end-December 2019

Management

  • Darius MaikštėnasDirector General

Information as of: 2020/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Darius MaikštėnasDirector General

MEMBERS OF THE BOARD OF DIRECTORS

  • Živilė SkibarkienėIgnitis Group
  • Darius KašauskasIgnitis Group
  • Vidmantas SalietisIgnitis Group
  • Dominykas TučkusIgnitis Group

Information as of: 2020/10/01

Supervisory board

CHAIRMAN OF THE SUPERVISORY BOARD

  • Darius DaubarasSaudi Aramco; Independent member

SUPERVISORY BOARD MEMBERS

  • Aušra VičkačkienėMinistry of Finance
  • Andrius PranckevičiusAB Linas Agro Group, PF Kekava; Independent member
  • Daiva KamarauskienėMinistry of Finance
  • Daiva Lubinskaitė-TrainauskienėUAB Thermo Fisher Scientific Baltics; Independent member

Information as of: 2020/10/01