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Valdymo koordinavimo centras Governance Coordination Centre

Indirectly Owned State Enterprises

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

P/L Statment

2018 2019 2020 2021
Revenue 297,782 396,467 389,817
Cost of goods sold 260,067 354,627 331,927
Gross profit (loss) 37,716 41,840 57,890
Gross profit margin % 13% 11% 15%
Operating expenses 94 15,153 22,560 31,408
Operating profit (loss) -94 22,563 19,280 26,482
Operating profit margin % 8% 5% 7%
EBITDA -94 45,838 43,457 51,189
EBITDA margin % 15% 11% 13%
Net profit (loss) -80 18,668 16,277 21,252
Net profit margin % 6% 4% 5%

Balance sheet

2018 2019 2020 2021
Non-current assets 14 191,276 210,368 232,035
Intangible assets 412 325 1,260
Tangible assets 190,864 208,916 228,370
Financial assets 1,128 1,385
Other non-current assets 14 1,020
Biological assets
Current assets 30,000 92,411 73,327 80,816
Inventories and prepaid expenses 2,054 1,309 11,648
Accounts receivable in one year 65,214 50,660 64,198
Other current assets
Cash and cash equivalents 30,000 25,143 21,358 4,970
Total assets 30,014 285,528 286,939 315,754
Equity 29,920 58,190 74,467 95,400
Minority share of capital
Grants and subsidies
Liabilities 94 223,888 208,662 213,726
Financial liabilities 158,718 149,143 149,469
Long-term liabilities 149,349 147,010 145,626
Short-term liabilities 94 74,305 61,615 67,946
Equity and liabilities 30,014 285,528 286,939 315,754

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) -1% 12% 6% 7%
Return on equity (ROE) -1% 42% 25% 25%
Return on capital employed (ROCE) -1% 21% 18% 21%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 2.73 2.00 1.57
Current Ratio 319.15 1.24 1.19 1.19
Quick ratio 319.15 1.22 1.17 1.02
Turnover ratios
Asset turnover 1.89 1.39 1.29
Fixed asset turnover 3.11 1.97 1.76
Equity turnover 6.76 5.98 4.59
Profitability ratios
EBITDA margin % 15% 11% 13%
Operating profit margin % 8% 5% 7%
Net profit margin % 6% 4% 5%
Other ratios
Dividends to the State
Dividends paid / net profit

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%
https://cargo.litrail.lt/
ROE

25.0%

Number of employees

2,802

Financial data provided as at end-December 2021

Management

  • Eglė ŠimėChief Executive Officer

Information as of: 2023/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Arnoldas ŪkeniekasIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Vytautas RadzevičiusAB Lietuvos geležinkeliai
  • Vitalij RakovskiIndependent member
  • Irena Jankutė-BalkūnėAB Lietuvos geležinkeliai
  • Natalija BaranauskienėMinistry of Transport and Communications

Information as of: 2023/05/01