• English
  • Lithuanian
Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

Lietuvos oro uostai (LTOU) manages three international airports – Vilnius, Kaunas and Palanga. LTOU develops the coordinated operations of the three airports, offers a wide range of services and ensures a high quality of services to passengers and partners. The Ministry of Transport and Communications of the Republic of Lithuania is the authority exercising the rights and duties of the owner of the company.
The established network of airports provides an opportunity to diversify activities, with each airport prioritising the most important parts of its operations, and to complement the Lithuanian transport system in a coordinated way.
LTOU’s mission is to bring the world closer to Lithuania.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Annual EBITDA:
    • 2022 ≥ 9 million Eur,
    • 2023 ≥ 13 million Eur,
    • 2024 ≥ 17 million Eur
  • Annual ratio of financial debt to equity:
    • 2022–2024 limit 1,0–1,5 times

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025

  • Annual income, ml. EUR:
    • 2023 – 50,6
    • 2024 – 61,8
    • 2025 – 66,8
  • The ratio of customers’ debts to income, %:
    • 2023-2025 ≤ 11
  • Number of directions, units:
    • 2023 – 100
    • 2024 – 108
    • 2025 – 115
  • General level of safe operation in ALoSP:
    • 2023 ≥ 87,17
    • 2024 ≥ 88,17
    • 2025 ≥ 89,17
  • Employee engagement index,%:
    • 2023 – 65
    • 2024 – 67
    • 2025 – 69
  • Indicator of passengers loyal to airports (international customer recommendation index Net Promoter Score):
    • 2023 – 59
    • 2024 – 60
    • 2025 – 62
  • Electricity consumption per passenger, kWh:
    • 2023 – 1,88
    • 2024 – 1,63
    • 2025 – 1,48
  • Evaluation of the CSR and sustainability report:
    • 2023-2025 – A+

        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 48,827 22,717 28,982 44,708
Cost of goods sold
Gross profit (loss) 48,827 22,717 28,982 44,708
Gross profit margin 100% 100% 100% 100%
Operating expenses
Operating profit (loss) 16,346 -5,355 -590 5,343
Operating profit margin 33% -24% -2% 12%
EBITDA 23,079 1,890 7,902 15,421
EBITDA margin 47% 8% 27% 34%
Net profit (loss) 13,998 -4,653 -703 3,185
Net profit margin 29% -20% -2% 7%
2020-06 2021-06 2022-06 2023-06
Revenue 11,665 9,070 20,855 29,615
Cost of goods sold 0
Gross profit (loss) 11,665 9,070 20,855 29,615
Gross profit margin 100% 100% 100% 100%
Operating expenses 0 0 0 21,852
Operating profit (loss) -1,942 -4,686 2,876 7,764
Operating profit margin -17% -52% 14% 26%
EBITDA 1,397 -579 7,947 13,088
EBITDA margin 12% -6% 38% 44%
Net profit (loss) -1,968 -4,299 2,378 6,144
Net profit margin -17% -47% 11% 21%

* 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 172,004 184,197 210,766 205,286
Intangible assets 720 435 1,362 1,200
Tangible assets 167,343 175,718 199,876 195,073
Financial assets 2,900 5,535 7,147 8,259
Other non-current assets 1,040 2,509 2,381 755
Current assets 25,293 13,568 20,839 25,593
Inventories and prepaid expenses 797 375 558 1,039
Accounts receivable in one year 6,297 2,593 5,200 5,104
Other current assets 149 589
Cash and cash equivalents 18,050 10,011 15,081 19,450
Total assets 197,297 197,765 231,605 230,879
Equity 135,576 127,903 127,768 127,607
Grants and subsidies 36,241 34,823 53,722 57,410
Liabilities 25,480 35,039 50,115 45,862
Financial liabilities 13,000 23,492 37,819 35,436
Long-term liabilities 12,710 21,690 35,373 32,406
Short-term liabilities 12,769 13,349 14,743 13,456
Equity and liabilities 197,297 197,765 231,605 230,879
2020-06 2021-06 2022-06 2023-06
Non-current assets 177,593 184,358 204,309 297,849
Intangible assets 568 1,274 1,414 987
Tangible assets 172,708 174,345 193,963 274,961
Financial assets 3,278 5,312 6,990 21,889
Other non-current assets 1,039 3,428 1,943 12
Current assets 17,956 12,998 19,252 24,988
Inventories and prepaid expenses 289 268 929 1,154
Accounts receivable in one year 4,388 2,408 6,736 6,426
Other current assets 622 642 408 477
Cash and cash equivalents 12,657 9,679 11,179 16,931
Total assets 195,549 197,356 223,561 322,837
Equity 133,597 122,437 127,130 207,304
Grants and subsidies 34,624 37,569 52,218 55,470
Liabilities 27,328 37,350 44,214 47,935
Financial liabilities 13,000 28,083 36,560 34,304
Long-term liabilities 12,385 26,210 35,328 30,712
Short-term liabilities 14,943 11,140 8,886 17,223
Equity and liabilities 195,549 197,356 223,561 322,837

* 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) 7% -2% -0% 1%
Return on equity (ROE) 11% -4% -1% 2%
Return on capital employed (ROCE) 11% -4% -0% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.07 0.12 0.16 0.15
Current Ratio 1.98 1.02 1.41 1.90
Quick ratio 1.92 0.99 1.38 1.82
Turnover ratios
Asset turnover 0.25 0.11 0.13 0.19
Fixed asset turnover 0.28 0.12 0.14 0.22
Equity turnover 0.36 0.18 0.23 0.35
Profitability ratios
EBITDA margin 47% 8% 27% 34%
Operating profit margin 33% -24% -2% 12%
Net profit margin 29% -20% -2% 7%
Other ratios
Dividends to the State 0.00 0.00 4,719.27 2,982.68
Dividends paid / net profit 0.00 0.00 -6.71 0.94

* 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) 3% -4% 3% 3%
Return on equity (ROE) 4% -5% 5% 4%
Return on capital employed (ROCE) -1% -3% 2% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.07 0.14 0.16 0.11
Current Ratio 1.20 1.17 2.17 1.45
Quick ratio 1.18 1.14 2.06 1.38
Turnover ratios
Asset turnover 0.06 0.05 0.09 0.09
Fixed asset turnover 0.07 0.05 0.10 0.10
Equity turnover 0.09 0.07 0.16 0.14
Profitability ratios
EBITDA margin 12% -6% 38% 44%
Operating profit margin -17% -52% 14% 26%
Net profit margin -17% -47% 11% 21%
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

Expectations of the state

Letter of Expectations

About the company

  • Official nameAB Lietuvos oro uostai
  • Legal formPublic limited liability company (AB)
  • Company code120864074
  • SectorTransport and Communications
  • Line of businessAirport
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://ltou.lt/
Return to the State

3.0 EUR milion

ROE

2.9%

Number of employees

569

Financial data provided as at end-December 2022

Management

  • Simonas BartkusChief Executive Officer

Information as of: 2023/11/03

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Eglė Čiužaitė AB Vilniaus šilumos tinklai; VšĮ Jaunimo linija; UAB Akropolis group; Independent Member

MEMBERS OF THE BOARD OF DIRECTORS

  • Tadas Arvydas VizgirdaUAB Shift4 Payments Lithuania, American Chamber of Commerce in Lithuania; Independent Member
  • Saulius KerzaMinistry of Transport and Communications
  • Darius MakauskisStansefabrikken Group; Independent Member
  • Gediminas AlmantasVšĮ „Lietuvos nacionalinis radijas ir televizija“; Lietuvos Raudonojo Kryžiaus draugija; VšĮ Atviros Lietuvos Fondo taryba; AB „LTG Infra"; AB „Novaturas“; AB „Oro navigacija“; Independent member

Information as of: 2023/11/03