LTG CARGO

LTG Cargo is a company of the Lithuanian Railways Group, which is currently continuing to actively diversify its activities towards the West. The company provides freight transport, logistics and freight forwarding, freight loading, locomotive and wagon repair and wagon rental services in Lithuania and abroad. LTG Cargo has established and manages LTG Cargo Polska in Poland and LTG Cargo Ukraine in Ukraine.

Financial results

	2021	2022	2023	2024
Revenue	389,817	293,691	285,749	306,278
Cost of goods sold	331,927	246,737	230,095	239,752
Gross profit (loss)	57,890	46,954	55,654	66,526
Gross profit margin	15%	16%	19%	22%
Operating expenses	31,408	32,302	30,409	30,994
Operating profit (loss)	26,482	14,652	25,245	35,532
Operating profit margin	7%	5%	9%	12%
EBITDA	51,189	38,599	49,445	61,326
EBITDA margin	13%	13%	17%	20%
Net profit (loss)	21,252	10,117	17,549	23,210
Net profit margin	5%	3%	6%	8%

* Left axis

** Right axis

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

Balance sheet

Annual
Semi-annual

	2021	2022	2023	2024
Non-current assets	232,035	243,232	250,723	260,985
Intangible assets	1,260	2,383	2,944	2,595
Tangible assets	228,370	239,813	238,568	239,752
Financial assets	1,385	16	8,224	17,621
Other non-current assets	1,020	1,020	987	1,017
Current assets	80,816	81,299	80,991	72,725
Inventories and prepaid expenses	11,648	13,429	6,811	4,747
Accounts receivable in one year	64,198	14,881	14,810	12,989
Other current assets	0		0	0
Cash and cash equivalents	4,970	52,982	58,054	53,504
Total assets	315,754	325,645	332,240	334,600
Equity	95,400	105,512	116,496	129,164
Grants and subsidies	0	0
Liabilities	213,572	205,667	205,941	197,802
Financial liabilities	149,469	161,004	158,370	138,866
Long-term liabilities	145,626	161,174	150,332	135,771
Short-term liabilities	67,946	44,493	55,609	62,030
Equity and liabilities	315,754	325,645	332,240	334,600

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

Financial ratios

Annual
Semi-annual

	2021	2022	2023	2024
Capital return ratios
Return on assets (ROA)	7%	3%	5%	7%
Return on equity (ROE)	25%	10%	16%	19%
Return on capital employed (ROCE)	11%	5%	9%	13%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.47	0.49	0.48	0.42
Current Ratio	1.19	1.83	1.46	1.17
Quick ratio	1.02	1.53	1.33	1.10
Turnover ratios
Asset turnover	1.23	0.90	0.86	0.92
Fixed asset turnover	1.68	1.21	1.14	1.17
Equity turnover	4.09	2.78	2.45	2.37
Profitability ratios
EBITDA margin	13%	13%	17%	20%
Operating profit margin	7%	5%	9%	12%
Net profit margin	5%	3%	6%	8%
Other ratios
Dividends to the State	0.00	6,572.60	10,534.40	13,920.90
Dividends paid / net profit	0.00	0.65	0.60	0.60

* Left axis

** Right axis

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

About the company

Official nameAB „LTG CARGO“
Legal formPublic limited liability company (AB)
Company code304977594
SectorTransport and Communications
Line of businessFreight transport by rail, repair of locomotives and wagons.
Accountability„Lietuvos geležinkeliai“ group of companies
Share indirectly belonging to the State100%
Contacts https://cargo.litrail.lt/

Return to the State

13.9 EUR milion

ROE

18.9%

Number of employees

1,658

Financial data provided as at end-December 2024

Management

Eglė ŠimėChief Executive Officer

Term of office expires: 2027/08/22

The information is relevant

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

Vitalij RakovskiIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

Vytautas RadzevičiusAB "Lietuvos geležinkeliai", Chief Strategy and Business development Officer

Natalija BaranauskienėMinistry of Transport and Communications

Aivaras ČičelisIndependent member

Term of office expires: 2027/01/23