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Valdymo koordinavimo centras Governance Coordination Centre

Indirectly Owned State Enterprises

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

* Left axis

** Right axis

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

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

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

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

* Left axis

** Right axis

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

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 nameAB LITGRID įmonių grupė
  • 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%
http://www.litgrid.eu/
ROE

%

Financial data provided as at end-December 2020