Ignitis grupė
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% |
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 |
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 |
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
Expectations of the state
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%
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: 2024/10/01
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: 2024/10/01
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: 2024/10/01