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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

         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 101,177 100,847 99,215 93,725
Cost of goods sold
Gross profit (loss) 101,177 100,847 99,215 93,725
Gross profit margin 100% 100% 100% 100%
Operating expenses
Operating profit (loss) 5,904 -9,692 -17,738 -14,514
Operating profit margin 6% -10% -18% -15%
EBITDA 11,426 8,601 716 13,046
EBITDA margin 11% 9% 1% 14%
Net profit (loss) 5,082 1,583 -6,445 4,838
Net profit margin 5% 2% -6% 5%
2020-06 2021-06 2022-06 2023-06
Revenue 45,581 52,067 45,121 50,623
Cost of goods sold 0 0 0 0
Gross profit (loss) 45,581 52,067 45,121 50,623
Gross profit margin 100% 100% 100% 100%
Operating expenses 46,083 0 0 0
Operating profit (loss) -502 -4,642 -8,259 407
Operating profit margin -1% -9% -18% 1%
EBITDA 2,876 4,962 -599 10,022
EBITDA margin 6% 10% -1% 20%
Net profit (loss) -801 1,167 -4,173 5,332
Net profit margin -2% 2% -9% 11%

* 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 58,291 65,055 64,111 56,937
Intangible assets 2,377 2,984 4,332 4,289
Tangible assets 38,411 44,844 42,967 38,984
Financial assets 61 133 78 71
Other non-current assets 17,441 17,095 16,735 13,593
Current assets 40,869 49,829 48,737 58,839
Inventories and prepaid expenses 3,420 3,614 3,826 3,323
Accounts receivable in one year 31,244 35,491 19,338 20,666
Other current assets
Cash and cash equivalents 6,205 9,788 25,539 33,892
Total assets 99,160 114,884 124,161 121,883
Equity 32,112 33,696 27,251 32,089
Grants and subsidies 67 95 175 139
Liabilities 49,702 57,675 71,432 70,957
Financial liabilities 5,000 31,408 33,129 27,438
Long-term liabilities 18,512 27,324 27,535 21,390
Short-term liabilities 31,190 30,351 43,897 49,567
Equity and liabilities 99,160 114,884 124,161 121,883
2020-06 2021-06 2022-06 2023-06
Non-current assets 65,379 64,321 58,118 58,401
Intangible assets 2,461 3,418 4,190 4,178
Tangible assets 45,723 42,062 40,742 37,605
Financial assets 61 133 78 11
Other non-current assets 17,134 18,707 13,108 16,607
Current assets 31,351 42,437 53,494 59,869
Inventories and prepaid expenses 3,741 3,841 1,990 3,285
Accounts receivable in one year 18,187 23,125 32,374 24,859
Other current assets 0 0 0 0
Cash and cash equivalents 9,422 15,472 19,130 30,868
Total assets 118,496 126,266 111,612 124,959
Equity 31,312 34,862 23,077 37,420
Grants and subsidies 63 203 188 105
Liabilities 66,441 58,354 62,806 66,982
Financial liabilities 28,029 35,322 26,939 29,291
Long-term liabilities 34,797 30,995 21,340 23,009
Short-term liabilities 31,644 27,358 41,466 43,974
Equity and liabilities 118,496 126,266 111,612 124,959

* 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) 6% 1% -5% 4%
Return on equity (ROE) 17% 5% -21% 16%
Return on capital employed (ROCE) 12% -16% -32% -27%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.13 0.27 0.27 0.23
Current Ratio 1.31 1.64 1.11 1.19
Quick ratio 1.20 1.52 1.02 1.12
Turnover ratios
Asset turnover 1.02 0.88 0.80 0.77
Fixed asset turnover 1.74 1.55 1.55 1.65
Equity turnover 3.15 2.99 3.64 2.92
Profitability ratios
EBITDA margin 11% 9% 1% 14%
Operating profit margin 6% -10% -18% -15%
Net profit margin 5% 2% -6% 5%
Other ratios
Dividends to the State 0.00 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00 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) 3% 3% -10% 12%
Return on equity (ROE) 11% 11% -41% 47%
Return on capital employed (ROCE) -1% -7% -19% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.24 0.28 0.24 0.23
Current Ratio 0.99 1.55 1.29 1.36
Quick ratio 0.87 1.41 1.24 1.29
Turnover ratios
Asset turnover 0.38 0.41 0.40 0.41
Fixed asset turnover 0.70 0.81 0.78 0.87
Equity turnover 1.46 1.49 1.96 1.35
Profitability ratios
EBITDA margin 6% 10% -1% 20%
Operating profit margin -1% -9% -18% 1%
Net profit margin -2% 2% -9% 11%
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. 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

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

16.3%

Number of employees

3,031

Financial data provided as at end-December 2022

Management

  • Rolandas ZukasChief Executive Officer

Information as of: 2023/11/03

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Mindaugas KyguolisIndependent member; VšĮ Garliavos pirminės sveikatos priežiūros centras; LTL Kredito Unija

MEMBERS OF THE BOARD OF DIRECTORS

  • Alditas SauliusIndependent member; Banking expert; Windcave Limited UAB
  • Arnold SchrovenIndependent member
  • Jūratė StanišauskienėIndependent member; UAB Legal Balance; AB „Oro navigacija“
  • Kristina SemėnėMinistry of Transport and Communications

Information as of: 2023/11/03