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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

  • Annual return on equity ROE:
    • 2022 ≥ 0 percent.,
    • 2023 ≥ 2 percent.,
    • 2024 ≥ 3 percent.
  • Annual ratio of financial debt to equity:
    • 2022–2024 ≤ 0,8 times
  • Dividends paid for the calendar year:
    • 2022–2024, 70–85 percent. from distributable profit

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025

  • EBITDA, million euros:

    • 2023 – 10,7
    • 2024 – 9,4
    • 2025 – 9,8
  • Reduced CO2 emissions,%:
    • 2023 – 14
    • 2024 – 19
    • 2025 – 25
  • Ratio of discretionary expenses to sales revenue::
    • 2023 – 0,98
    • 2024 – 0,96
    • 2025 – 0,94
  • The change in the market share of goods delivery revenue compared to the previous year, in percent:

    • 2023 ≥ 0,1
    • 2024 ≥ 0,2
    • 2025 ≥ 0,2
  • Customer satisfaction, NPS index,%:
    • 2023 – 42
    • 2024 – 44
    • 2025 – 46
  • Employee involvement,%:
    • 2023 – 47
    • 2024 – 48
    • 2025 – 49

         2021/22 GOOD CORPORATE GOVERNANCE INDEX     

         2020/21 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

2018 2019 2020 2021
Revenue 88,307 101,177 100,847 99,215
Cost of goods sold
Gross profit (loss) 88,307 101,177 100,847 99,215
Gross profit margin 100% 100% 100% 100%
Operating expenses 84,132 95,273 110,540 116,954
Operating profit (loss) 4,175 5,904 -9,692 -17,738
Operating profit margin 5% 6% -10% -18%
EBITDA 7,724 11,426 8,601 716
EBITDA margin 9% 11% 9% 1%
Net profit (loss) 3,680 5,082 1,583 -6,445
Net profit margin 4% 5% 2% -6%
2019-06 2020-06 2021-06 2022-06
Revenue 43,126 45,148 52,067 45,121
Cost of goods sold
Gross profit (loss) 43,126 45,148 52,067 45,121
Gross profit margin % % % %
Operating expenses 41,392 49,739 56,709 53,378
Operating profit (loss) 1,734 -4,591 -4,642 -8,258
Operating profit margin % % % %
EBITDA 4,332 2,745 4,962 -599
EBITDA margin 10% 6% 10% -1%
Net profit (loss) 1,076 -801 1,167 -4,174
Net profit margin 2% -2% 2% -9%

* Left axis

** Right axis

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

Balance sheet

2018 2019 2020 2021
Non-current assets 34,428 58,291 65,055 64,111
Intangible assets 2,198 2,377 2,984 4,332
Tangible assets 31,966 38,411 44,844 42,967
Financial assets 72 61 133 78
Other non-current assets 193 17,441 17,094 16,735
Current assets 20,232 40,869 49,829 60,050
Inventories and prepaid expenses 3,150 3,420 3,614 3,826
Accounts receivable in one year 6,247 31,244 35,491 30,651
Other current assets 5,234
Cash and cash equivalents 5,602 6,205 9,788 25,539
Total assets 68,994 99,160 114,884 124,161
Equity 27,030 32,112 33,696 27,251
Grants and subsidies 43 67 95 175
Liabilities 28,411 49,702 57,675 71,432
Financial liabilities 8,563 12,426 31,408 33,129
Long-term liabilities 9,586 18,512 27,324 27,535
Short-term liabilities 18,825 31,190 30,351 43,897
Equity and liabilities 68,994 99,160 114,884 124,161
2020-06 2021-06 2022-06
Non-current assets 65,379 64,321 58,118
Intangible assets 2,461 3,418 4,190
Tangible assets 45,723 42,062 40,742
Financial assets 61 133 78
Other non-current assets 17,134 18,707 13,108
Current assets 31,351 42,437 53,494
Inventories and prepaid expenses 3,741 3,841 1,990
Accounts receivable in one year 18,187 23,125 32,374
Other current assets
Cash and cash equivalents 9,422 15,472 19,130
Total assets 118,496 126,266 111,612
Equity 31,312 34,862 23,077
Grants and subsidies 63 203 188
Liabilities 66,441 58,354 62,806
Financial liabilities 28,029 35,322 26,939
Long-term liabilities 34,797 30,995 21,340
Short-term liabilities 31,644 27,358 41,466
Equity and liabilities 118,496 126,266 111,612

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

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 5% 6% 1% -5%
Return on equity (ROE) 15% 17% 5% -21%
Return on capital employed (ROCE) 19% 18% 5% -17%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.32 0.39 0.93 1.22
Current Ratio 1.07 1.31 1.64 1.37
Quick ratio 0.91 1.20 1.52 1.28
Turnover ratios
Asset turnover 1.25 1.20 0.94 0.83
Fixed asset turnover 2.44 2.18 1.64 1.54
Equity turnover 3.51 3.42 3.06 3.26
Profitability ratios
EBITDA margin 9% 11% 9% 1%
Operating profit margin 5% 6% -10% -18%
Net profit margin 4% 5% 2% -6%
Other ratios
Dividends to the State
Dividends paid / net profit

* Left axis

** Right axis

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

2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 6% % 3% -10%
Return on equity (ROE) 17% % 12% -41%
Return on capital employed (ROCE) 18% -1% 3% -12%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.39 1.01 1.22 1.17
Current Ratio 1.31 0.99 1.55 1.29
Quick ratio 1.20 0.87 1.41 1.24
Turnover ratios
Asset turnover 1.20 0.76 0.43 0.38
Fixed asset turnover 2.18 1.38 0.80 0.74
Equity turnover 3.42 2.88 1.57 1.56
Profitability ratios
EBITDA margin 11% 6% 10% -1%
Operating profit margin 6% % % %
Net profit margin 5% -2% 2% -9%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

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. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės 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. 3 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos
2011 m. metinės ataskaitos
2010 m. metinės ataskaitos

Expectations of the state

Target return on equity undefined

Letter of Expectations

About the company

  • Official nameAB Lietuvos pašto įmonių grupė
  • Legal formPublic limited liability company (AB)
  • Company code121215587
  • SectorTransport and Communications
  • Line of businessPostal services
  • Institution representing the StateMinistry of Transport and Communications
  • Special obligationsPerformes non-commercial special obligations
  • Share belonging to the State100%
http://www.post.lt/
ROE

-21.1%

Number of employees

3,728

Financial data provided as at end-December 2021

Management

  • Rolandas ZukasChief Executive Officer

Information as of: 2023/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Mindaugas KyguolisGarliavos Primary Health Care Centre, Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Vladislav KondratovičMinistry of Transport and Communications
  • Alditas SauliusBanking expert; Independent member
  • Arnold SchrovenIndependent member
  • Jūratė StanišauskienėIndependent member

Information as of: 2023/05/01