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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

Lietuvos paštas is the largest provider of postal services in the country. The company’s main mission is to be a reliable parcel and letter delivery partner connecting Lithuania with the world. Lithuanian Post also operates the second largest network of parcel machines in Lithuania, LP EXPRESS, and provides services for payment of benefits, subscription delivery and remittances.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual adjusted EBITDA margin:

    • 2022–2024 ≥ 25 percent.

  • Annual net debt to adjusted EBITDA ratio:

    • 2022–2024 ≤ 6 times

      TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025

  • LTG Group’s income, mln. EUR:
    • 2023 – 459,1
    • 2024 – 528,4
    • 2025 – 610,2
  • Total energy consumption savings, GWh:
    • 2023 – 2,6
    • 2024 – 4,2
    • 2025 – 5,6
  • CO2 emission per unit of income, tCO2e/ million EUR:
    • 2023 – 185
    • 2024 – 189
    • 2025 – 173
  • Amount of transported intermodal cargo, thousand TEU:
    • 2023 – 194
    • 2024 – 202
    • 2025 – 222
  • Turnover of transported passengers, mln. road km:
    • 2023 – 418,9
    • 2024 – 451
    • 2025 – 484,5
  • Traffic hazard indicator:
    • 2023 – 2,25
    • 2024 – 1,92
    • 2025 – 1,75

          2022/23 GOOD CORPORATE GOVERNANCE INDEX

              

        2021/22 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

2019 2020 2021 2022
Revenue 473,541 458,932 458,377 432,932
Cost of goods sold 370,201 351,628 354,957 349,615
Gross profit (loss) 103,340 107,304 103,420 83,317
Gross profit margin 22% 23% 23% 19%
Operating expenses 60,194 69,725 81,275 78,363
Operating profit (loss) 43,146 37,580 22,145 4,954
Operating profit margin 9% 8% 5% 1%
EBITDA 193,079 157,617 136,856 112,104
EBITDA margin 41% 34% 30% 26%
Net profit (loss) 58,095 36,556 23,464 1,213
Net profit margin 12% 8% 5% 0%
2020-06 2021-06 2022-06 2023-06
Revenue 192,767 204,843 201,864 211,172
Cost of goods sold 173,762 174,590 176,796 171,821
Gross profit (loss) 19,005 30,253 25,067 39,351
Gross profit margin 10% 15% 12% 19%
Operating expenses 32,389 31,444 31,457 28,008
Operating profit (loss) -13,472 -1,191 -6,390 11,343
Operating profit margin -7% -1% -3% 5%
EBITDA 54,969 54,040 43,663 65,938
EBITDA margin 29% 26% 22% 31%
Net profit (loss) -185 -2,739 -6,561 8,989
Net profit margin -0% -1% -3% 4%

* Left axis

** Right axis

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

Balance sheet

2019 2020 2021 2022
Non-current assets 1,825,445 1,929,090 1,940,559 1,991,316
Intangible assets 18,681 21,477 26,882 28,892
Tangible assets 1,798,512 1,896,909 1,903,402 1,951,669
Financial assets 4,945 6,251 7,262 7,436
Other non-current assets 3,307 4,453 3,013 3,320
Current assets 226,981 158,849 169,489 283,412
Inventories and prepaid expenses 38,642 30,569 30,212 30,577
Accounts receivable in one year 80,818 50,635 51,635 37,670
Other current assets 0
Cash and cash equivalents 105,153 69,499 84,656 213,434
Total assets 2,056,514 2,104,226 2,117,881 2,280,260
Equity 1,167,131 1,162,977 1,166,608 1,161,504
Grants and subsidies 556,015 581,384 603,642 809,164
Liabilities 313,241 333,678 316,025 286,979
Financial liabilities 185,080 207,287 180,066 159,914
Long-term liabilities 186,673 209,329 187,272 167,762
Short-term liabilities 126,569 124,349 128,753 119,217
Equity and liabilities 2,056,514 2,104,226 2,117,881 2,280,260
2020-06 2021-06 2022-06 2023-06
Non-current assets 1,895,651 1,924,978 1,920,003 2,071,782
Intangible assets 18,104 23,758 26,837 29,377
Tangible assets 1,867,823 1,890,156 1,881,913 2,031,530
Financial assets 4,598 6,242 7,537 7,354
Other non-current assets 5,126 4,822 3,717 3,521
Current assets 145,878 132,935 149,988 250,438
Inventories and prepaid expenses 51,439 45,026 44,475 40,710
Accounts receivable in one year 68,787 70,649 65,304 61,631
Other current assets 0 0
Cash and cash equivalents 25,652 17,261 40,209 145,134
Total assets 2,048,892 2,064,765 2,081,696 2,328,261
Equity 1,166,946 1,139,990 1,153,754 1,170,201
Grants and subsidies 565,489 582,677 629,569 813,725
Liabilities 283,682 322,186 279,000 318,105
Financial liabilities 170,546 192,997 165,993 142,939
Long-term liabilities 164,215 196,585 170,635 156,512
Short-term liabilities 119,467 125,601 108,365 161,593
Equity and liabilities 2,048,892 2,064,765 2,081,696 2,328,261

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

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 3% 2% 1% 0%
Return on equity (ROE) 5% 3% 2% 0%
Return on capital employed (ROCE) 3% 3% 2% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.09 0.10 0.09 0.07
Current Ratio 1.79 1.28 1.32 2.38
Quick ratio 1.49 1.03 1.08 2.12
Turnover ratios
Asset turnover 0.23 0.22 0.22 0.19
Fixed asset turnover 0.26 0.24 0.24 0.22
Equity turnover 0.41 0.39 0.39 0.37
Profitability ratios
EBITDA margin 41% 34% 30% 26%
Operating profit margin 9% 8% 5% 1%
Net profit margin 12% 8% 5% 0%
Other ratios
Dividends to the State 38,000.00 13,835.90 6,240.70 0.00
Dividends paid / net profit 0.65 0.38 0.27 0.00

* Left axis

** Right axis

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

2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 1% 2% 1% 1%
Return on equity (ROE) 2% 3% 2% 1%
Return on capital employed (ROCE) -1% -0% -0% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.08 0.09 0.08 0.06
Current Ratio 1.22 1.06 1.38 1.55
Quick ratio 0.79 0.70 0.97 1.30
Turnover ratios
Asset turnover 0.09 0.10 0.10 0.09
Fixed asset turnover 0.10 0.11 0.11 0.10
Equity turnover 0.17 0.18 0.17 0.18
Profitability ratios
EBITDA margin 29% 26% 22% 31%
Operating profit margin -7% -1% -3% 5%
Net profit margin -0% -1% -3% 4%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

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. 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

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 obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://www.litrail.lt
ROE

0.1%

Number of employees

6,126

Financial data provided as at end-December 2022

Management

  • Egidijus LazauskasChief Executive Officer

Information as of: 2023/11/03

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Kęstutis ŠliužasIPI srl/Oji Holdings Corporation; Independent Member

MEMBERS OF THE BOARD OF DIRECTORS

  • Bernard GuillelmonBridge The Gap Ltd; JJM Holding; Independent Member
  • Dalia AndrulionienėUAB Omberg group; Independent Member
  • Aurimas VilkelisIndependent Member; Swiss Post; AB Klaipėdos valstybinio jūrų uosto direkcija
  • Eugenijus PreikšaUAB European Merchant Bank; Independent Member
  • Agnė Amelija MikalonėMinistry of Transport and Communications; AB Lietuvos automobilių kelių direkcija
  • Romas ŠvedasVšĮ Valdymo koordinavimo centras; Romas Švedas and Partners, MB; VU TSPMI

Information as of: 2023/11/03