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Valdymo koordinavimo centras

State Owned Enterprises

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

P/L Statment

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%

Balance sheet

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

Financial ratios

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
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

Expectations of the state

Target return on equity

5.5%

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

Management

  • Mantas BartuškaDirector General

Information as of: 2020/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Romas ŠvedasRomas Švedas and Partners, MB, UN ESPOO Convention Inplementation Committee, VU TSPMI, Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Mats Bo Knut HansonMBK Advisory AB; Independent member
  • Rolandas ZukasUAB EPSO-G; Independent member
  • Monika Rimkūnaitė-BložėUAB Mobilieji mokėjimai; Independent member
  • Alditas SauliusBanking expert; Independent member

Information as of: 2020/10/01