Litgrid
Litgrid AB was established in 2010 after the restructuring of the Lithuanian energy sector and the transfer of electricity transmission network maintenance and ownership from Lietuvos Energija, to which only the largest power plants in the country remain. The company belongs to EPSO-G group of companies and is directly controlled by the parent company UAB EPSO-G. Electricity transmission system operator Litgrid AB ensures reliable and safe transmission of electricity, maintains high voltage electricity transmission network, manages electricity flows and maintains stable operation of the country’s energy system.
Financial results
P/L Statment
| 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|
| Revenue | 160,188 | 190,641 | 183,913 | 207,516 |
| Cost of goods sold | 80,081 | 118,993 | 134,948 | 128,391 |
| Gross profit (loss) | 80,107 | 71,648 | 48,965 | 79,125 |
| Gross profit margin | 50% | 38% | 27% | 38% |
| Operating expenses | 67,159 | 116,685 | 47,111 | 49,069 |
| Operating profit (loss) | 12,948 | -45,037 | 1,854 | 30,056 |
| Operating profit margin | 8% | -24% | 1% | 14% |
| EBITDA | 39,308 | -19,139 | 22,272 | 50,410 |
| EBITDA margin | 25% | -10% | 12% | 24% |
| Net profit (loss) | 9,585 | -39,361 | 2,959 | 26,603 |
| Net profit margin | 6% | -21% | 2% | 13% |
| Revenue |
| Cost of goods sold |
| Gross profit (loss) |
| Gross profit margin |
| Operating expenses |
| Operating profit (loss) |
| Operating profit margin |
| EBITDA |
| EBITDA margin |
| Net profit (loss) |
| Net profit margin |
Balance sheet
| 2017 | 2018 | 2019 | 2020 | |
|---|---|---|---|---|
| Non-current assets | 384,779 | 333,971 | 350,693 | 375,388 |
| Intangible assets | 3,650 | 6,593 | 4,857 | 6,248 |
| Tangible assets | 378,403 | 309,741 | 326,205 | 336,504 |
| Financial assets | 2,693 | 2,693 | 11,169 | 19,130 |
| Other non-current assets | 33 | 14,944 | 8,462 | 13,506 |
| Biological assets | ||||
| Current assets | 54,431 | 32,286 | 25,041 | 38,131 |
| Inventories and prepaid expenses | 1,502 | 1,634 | 36 | 26 |
| Accounts receivable in one year | 43,485 | 22,104 | 24,975 | 38,072 |
| Other current assets | 8,748 | 7,921 | ||
| Cash and cash equivalents | 696 | 627 | 30 | 33 |
| Total assets | 439,210 | 366,257 | 376,198 | 414,353 |
| Equity | 246,598 | 195,025 | 195,571 | 218,037 |
| Minority share of capital | ||||
| Grants and subsidies | 22 | |||
| Liabilities | 192,590 | 171,232 | 172,896 | 190,140 |
| Financial liabilities | 152,354 | 120,968 | 94,128 | 79,902 |
| Long-term liabilities | 122,606 | 107,490 | 124,833 | 127,603 |
| Short-term liabilities | 69,984 | 63,742 | 46,093 | 59,145 |
| Equity and liabilities | 439,210 | 366,257 | 376,198 | 414,353 |
| Non-current assets |
| Intangible assets |
| Tangible assets |
| Financial assets |
| Other non-current assets |
| Biological assets |
| Current assets |
| Inventories and prepaid expenses |
| Accounts receivable in one year |
| Other current assets |
| Cash and cash equivalents |
| Total assets |
| Equity |
| Minority share of capital |
| Grants and subsidies |
| Liabilities |
| Financial liabilities |
| Long-term liabilities |
| Short-term liabilities |
| Equity and liabilities |
Financial ratios
| 2018 | 2019 | 2020 | |
|---|---|---|---|
| Capital return ratios | |||
| Return on assets (ROA) | -10% | 1% | 7% |
| Return on equity (ROE) | -18% | 2% | 13% |
| Return on capital employed (ROCE) | -30% | 1% | 17% |
| Capital structure and liquidity ratios | |||
| Debt / asset ratio (D/A) | 0.62 | 0.48 | 0.37 |
| Current Ratio | 0.51 | 0.54 | 0.64 |
| Quick ratio | 0.48 | 0.54 | 0.64 |
| Turnover ratios | |||
| Asset turnover | 0.47 | 0.50 | 0.52 |
| Fixed asset turnover | 0.53 | 0.54 | 0.57 |
| Equity turnover | 0.86 | 0.94 | 1.00 |
| Profitability ratios | |||
| EBITDA margin | -10% | 12% | 24% |
| Operating profit margin | -24% | 1% | 14% |
| Net profit margin | -21% | 2% | 13% |
| Other ratios | |||
| Dividends to the State | 2,557.42 | 3,982.88 | 16,128.45 |
| Dividends paid / net profit | -0.06 | 1.35 | 0.61 |
| 2017-06-30 | |
|---|---|
| Capital return ratios | |
| Return on assets (ROA) | 2% |
| Return on equity (ROE) | 4% |
| Return on capital employed (ROCE) | 7% |
| Capital structure and liquidity ratios | |
| Debt / asset ratio (D/A) | 0.62 |
| Current Ratio | 0.78 |
| Quick ratio | 0.76 |
| Turnover ratios | |
| Asset turnover | 0.36 |
| Fixed asset turnover | 0.41 |
| Equity turnover | 0.64 |
| Profitability ratios | |
| EBITDA margin | 25% |
| Operating profit margin | 8% |
| Net profit margin | 6% |
| Other ratios | |
| Dividends to the State | |
| Dividends paid / net profit |
About the company
- Official name„Litgrid“ AB
- Legal formPublic limited liability company (AB)
- Company code302564383
- SectorEnergy
- Line of businessTransmission of electricity, management of electricity transmission system and development of infrastructure
- Accountability„EPSO-G“ group of companies
- Share indirectly belonging to the State97.5%
Return to the State
16.1 EUR milion
ROE
12.9%
Number of employees
308
Financial data provided as at end-December 2019
