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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

In 1918 November 16, the Lithuanian Post Board was established, which took care of postal activities in the restored state of Lithuania. 1991 After the decision to reorganize the Lithuanian communications management structure, a state enterprise (VĮ) Lietuvos paštas was established. 2006 the company was reorganized into a stock company (AB) Lietuvos paštas. Lietuvos Paštas AB has the widest network of service locations in the country and provides not only postal, but also logistics and financial services.

Lietuvos Paštas AB is the designated provider of universal postal services in Lithuania. “Baltic Post” provides a courier service. UAB “Baltic Post” manages the LP EXPRESS brand, which develops the activities of courier and parcel self-service terminals. Today, the Lithuanian Post Group offers the widest range of shipping and delivery options in the country. Shipments can be sent or withdrawn via LP EPXRESS couriers, the largest in Lithuania – 111 self-service terminal terminals or nearly 700 postal service points.

Financial results

P/L Statment

2017 2018 2019 2020
Revenue 76,940 88,307 101,177 112,061
Cost of goods sold
Gross profit (loss) 76,940 88,307 101,177 112,061
Gross profit margin 100% 100% 100% 100%
Operating expenses 75,840 84,132 95,273 110,540
Operating profit (loss) 1,100 4,175 5,904 1,522
Operating profit margin 1% 5% 6% 1%
EBITDA 4,351 7,724 11,426 8,601
EBITDA margin 6% 9% 11% 8%
Net profit (loss) 1,573 3,680 5,082 1,583
Net profit margin 2% 4% 5% 1%
2018-06 2019-06 2020-06 2021-06
Revenue 39,921 43,126 45,148 52,067
Cost of goods sold
Gross profit (loss) 39,921 43,126 45,148 52,067
Gross profit margin % % 100% 100%
Operating expenses 37,595 41,392 49,739 56,709
Operating profit (loss) 2,325 1,734 -4,591 -4,642
Operating profit margin % % 4% -9%
EBITDA 4,332 4,962
EBITDA margin % % 10% 10%
Net profit (loss) 2,168 1,076 -801 1,167
Net profit margin % % 2% 2%

Balance sheet

2017 2018 2019 2020
Non-current assets 37,850 34,428 58,291 65,055
Intangible assets 5,023 2,198 2,377 2,984
Tangible assets 32,709 31,966 38,411 42,898
Financial assets 72 72 61 133
Other non-current assets 46 193 17,441 19,041
Current assets 21,046 20,232 40,869 49,829
Inventories and prepaid expenses 6,823 3,150 3,420 3,614
Accounts receivable in one year 5,397 6,247 31,244 35,491
Other current assets 2,966 5,234
Cash and cash equivalents 5,860 5,602 6,205 9,788
Total assets 72,059 68,994 99,160 114,884
Equity 23,271 27,030 32,112 33,696
Grants and subsidies 33 43 67 95
Liabilities 28,228 28,411 49,702 57,675
Financial liabilities 10,939 8,563 12,426 14,500
Long-term liabilities 6,245 9,586 18,512 27,324
Short-term liabilities 21,983 18,825 31,190 30,351
Equity and liabilities 72,059 68,994 99,160 114,884
2019-06 2020-06 2021-06
Non-current assets 48,618 65,379 64,321
Intangible assets 2,029 2,461 3,418
Tangible assets 44,022 45,723 42,062
Financial assets 71 61 133
Other non-current assets 2,496 17,134 18,707
Current assets 25,519 31,351 42,437
Inventories and prepaid expenses 3,653 3,741 3,841
Accounts receivable in one year 17,119 18,187 23,125
Other current assets
Cash and cash equivalents 4,747 9,422 15,472
Total assets 106,829 118,496 126,266
Equity 28,106 31,312 34,862
Grants and subsidies 70 63 203
Liabilities 58,493 66,441 58,354
Financial liabilities 14,307 28,029 30,799
Long-term liabilities 28,241 34,797 30,995
Short-term liabilities 4,523
Equity and liabilities 106,829 118,496 126,266

Financial ratios

2017 2018 2019 2020
Capital return ratios
Return on assets (ROA) 2% 5% 6% 1%
Return on equity (ROE) 7% 15% 17% 5%
Return on capital employed (ROCE) 7% 19% 18% 5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.47 0.32 0.39 0.43
Current Ratio 0.96 1.07 1.31 1.64
Quick ratio 0.65 0.91 1.20 1.52
Turnover ratios
Asset turnover 1.07 1.25 1.20 1.05
Fixed asset turnover 2.08 2.44 2.18 1.82
Equity turnover 3.42 3.51 3.42 3.41
Profitability ratios
EBITDA margin 6% 9% 11% 8%
Operating profit margin 1% 5% 6% 1%
Net profit margin 2% 4% 5% 1%
Other ratios
Dividends to the State
Dividends paid / net profit
2018-06 2019-06 2020-06 2021-06
Capital return ratios
Return on assets (ROA) 2% % % 3%
Return on equity (ROE) 7% % % 11%
Return on capital employed (ROCE) 7% -5% 2% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.47 0.90 1.01
Current Ratio 0.96 9.38
Quick ratio 0.65 8.53
Turnover ratios
Asset turnover 1.07 0.81 0.40 0.43
Fixed asset turnover 2.08 1.77 0.79 0.80
Equity turnover 3.42 3.07 1.52 1.57
Profitability ratios
EBITDA margin 6% % 10% 10%
Operating profit margin 1% % 4% -9%
Net profit margin 2% % 2% 2%
Other ratios
Dividends to the State
Dividends paid / net profit

Expectations of the state

Target return on equity

9.0%

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

4.8%

Number of employees

4,270

Financial data provided as at end-December 2020

Management

  • Asta SungailienėDirector General

Information as of: 2021/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Mindaugas KyguolisIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Saulė BalčiūnienėGlobal HR Director, Incell International AB; Independent member
  • Saulius KerzaMinistry of Transport and Communications
  • Alditas SauliusBanking expert; Independent member

Information as of: 2021/10/01