Lietuvos geležinkeliai

AB Lietuvos Geležinkeliai was established in 1991. The Company administers and supervises the railway network operated in Lithuania. Its main activities are rail freight, passenger transportation, management, maintenance and development of public railway infrastructure. The main competitors of the company are Estonian and Latvian railway companies.

Financial results

	2016	2017	2018	2019
Revenue	404,120	448,100	467,952	473,541
Cost of goods sold	334,750	355,289	361,184	370,201
Gross profit (loss)	69,370	92,811	106,768	103,340
Gross profit margin	17%	21%	23%	22%
Operating expenses	114,405	55,624	59,609	60,194
Operating profit (loss)	-45,035	37,187	47,159	43,146
Operating profit margin	-11%	8%	10%	9%
EBITDA	76,092	159,317	196,011	193,079
EBITDA margin	19%	36%	42%	41%
Net profit (loss)	-52,453	26,988	54,806	58,095
Net profit margin	-13%	6%	12%	12%

	2017-06-30	2018-06-30	2019-06-30	2020-06-30
Revenue	207,955	223,209	228,892	192,767
Cost of goods sold	176,018	168,153	176,827	173,762
Gross profit (loss)	31,937	55,057	52,065	19,005
Gross profit margin	15%	25%	23%	10%
Operating expenses	30,984	28,930	28,325	32,477
Operating profit (loss)	954	26,127	23,740	-13,472
Operating profit margin	0%	12%	10%	-7%
EBITDA	59,927	85,200	96,628	54,969
EBITDA margin	29%	38%	42%	29%
Net profit (loss)	-2,475	4,651	29,524	-185
Net profit margin	0%	8%	13%	-0%

* Left axis

** Right axis

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

Balance sheet

Annual
Semi-annual

	2016	2017	2018	2019
Non-current assets	1,958,937	1,909,825	1,846,870	1,825,445
Intangible assets	26,096	24,445	21,025	18,681
Tangible assets	1,926,923	1,879,492	1,820,136	1,798,512
Financial assets	4,497	4,260	4,326	4,945
Other non-current assets	1,421	1,628	1,383	3,307
Biological assets
Current assets	116,084	155,541	177,198	227,138
Inventories and prepaid expenses	36,738	36,167	45,292	43,655
Accounts receivable in one year	53,921	35,083	38,477	75,962
Other current assets
Cash and cash equivalents	20,666	83,536	92,832	105,153
Total assets	2,077,717	2,067,572	2,025,657	2,056,514
Equity	1,111,683	1,138,694	1,151,386	1,167,131
Minority share of capital
Grants and subsidies	515,251	520,962	538,882	556,015
Liabilities	445,774	403,711	332,525	329,864
Financial liabilities	301,469	268,533	210,926	183,058
Long-term liabilities	275,089	243,092	188,992	175,935
Short-term liabilities	111,468	134,279	116,768	125,800
Equity and liabilities	2,077,717	2,067,572	2,025,657	2,056,514

	2017-06-30	2018-06-30	2019-06-30	2020-06-30
Non-current assets	1,942,262	1,870,911	1,818,829	1,895,651
Intangible assets	29,049	22,842	19,716	18,104
Tangible assets	1,906,305	1,842,167	1,793,492	1,867,823
Financial assets	3,379	4,072	3,916	4,598
Other non-current assets	3,530	1,830	1,705	5,126
Biological assets
Current assets	126,052	160,614	194,735	145,878
Inventories and prepaid expenses	44,191	46,438	41,177	51,439
Accounts receivable in one year	59,546	40,848	64,318	68,787
Other current assets
Cash and cash equivalents	22,316	73,328	89,241	25,652
Total assets	2,072,410	2,032,258	2,019,083	2,048,892
Equity	1,087,853	1,156,139	1,137,910	1,166,946
Minority share of capital
Grants and subsidies	605,685	519,065	541,709	565,489
Liabilities	378,872	357,054	335,666	313,011
Financial liabilities	283,076	239,795	196,518	170,546
Long-term liabilities	264,979	228,377	183,458	164,215
Short-term liabilities	113,893	128,677	123,491	119,467
Equity and liabilities	2,072,410	2,032,258	2,019,083	2,048,892

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

Financial ratios

Annual
Semi-annual

	2016	2017	2018	2019
Capital return ratios
Return on assets (ROA)	-3%	1%	3%	3%
Return on equity (ROE)	-5%	2%	5%	5%
Return on capital employed (ROCE)	-5%	4%	8%	8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.27	0.24	0.18	0.16
Current Ratio	1.04	1.16	1.52	1.81
Quick ratio	0.71	0.89	1.13	1.46
Turnover ratios
Asset turnover	0.19	0.22	0.23	0.23
Fixed asset turnover	0.21	0.23	0.25	0.26
Equity turnover	0.37	0.40	0.41	0.41
Profitability ratios
EBITDA margin	19%	36%	42%	41%
Operating profit margin	-11%	8%	10%	9%
Net profit margin	-13%	6%	12%	12%
Other ratios
Dividends to the State		34,000.00	43,000.00	38,000.00
Dividends paid / net profit		1.26	0.78	0.65

* Left axis

** Right axis

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

	2017-06-30	2018-06-30	2019-06-30	2020-06-30
Capital return ratios
Return on assets (ROA)	1%	2%	3%	1%
Return on equity (ROE)	2%	4%	6%	2%
Return on capital employed (ROCE)	4%	3%	4%	-0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.24	0.21	0.17	0.15
Current Ratio	1.16	1.25	1.58	1.22
Quick ratio	0.89	0.89	1.24	0.79
Turnover ratios
Asset turnover	0.22	0.11	0.11	0.09
Fixed asset turnover	0.23	0.12	0.12	0.10
Equity turnover	0.40	0.20	0.20	0.17
Profitability ratios
EBITDA margin	36%	38%	42%	29%
Operating profit margin	8%	12%	10%	-7%
Net profit margin	6%	8%	13%	-0%
Other ratios
Dividends to the State	34,000.00
Dividends paid / net profit	1.26

Financial statments

2020 m. 6 mėn. tarpinės 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. 6 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos

2012 m. metinės ataskaitos 2012 m. 6 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

2011m. 6 mėn. tarpinės ataskaitos 2011 m. metinės ataskaitos

2010 m. metinės ataskaitos

Expectations of the state

Target return on equity

5.5%

Letter of Expectations

About the company

Official nameAB „Lietuvos geležinkeliai“ įmonių grupė
Legal formPublic limited liability company (AB)
Company code110053842
SectorTransport and Communications
Line of businessRailways
Institution representing the StateMinistry of Transport and Communications
Special obligationsVykdo nekomercinius specialiuosius įpareigojimus
Share belonging to the State100%

http://www.litrail.lt

Return to the State

38.0 EUR milion

ROE

5.0%

Number of employees

9,340

Financial data provided as at end-December 2019

State Owned Enterprises