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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

2020 2021 2022 2023
Revenue 396,467 389,817 293,691 285,749
Cost of goods sold 354,627 331,927 246,737 230,095
Gross profit (loss) 41,840 57,890 46,954 55,654
Gross profit margin 11% 15% 16% 19%
Operating expenses 22,560 31,408 32,302 30,409
Operating profit (loss) 19,280 26,482 14,652 25,245
Operating profit margin 5% 7% 5% 9%
EBITDA 43,457 51,189 38,599 49,445
EBITDA margin 11% 13% 13% 17%
Net profit (loss) 16,277 21,252 10,117 17,549
Net profit margin 4% 5% 3% 6%

Balance sheet

2020 2021 2022 2023
Non-current assets 210,368 232,035 243,232 250,723
Intangible assets 325 1,260 2,383 2,944
Tangible assets 208,916 228,370 239,813 238,568
Financial assets 1,128 1,385 16 8,224
Other non-current assets 0 1,020 1,020 987
Current assets 73,327 80,816 81,299 80,991
Inventories and prepaid expenses 1,309 11,648 13,429 6,811
Accounts receivable in one year 50,660 64,198 14,881 14,810
Other current assets 0 0
Cash and cash equivalents 21,358 4,970 52,982 58,054
Total assets 286,939 315,754 325,645 332,240
Equity 74,467 95,400 105,512 116,496
Grants and subsidies 0 0 0 0
Liabilities 208,625 213,572 205,667 205,941
Financial liabilities 149,143 149,469 161,004 158,370
Long-term liabilities 147,010 145,626 161,174 150,332
Short-term liabilities 61,615 67,946 44,493 55,609
Equity and liabilities 286,939 315,754 325,645 332,240

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) 6% 7% 3% 5%
Return on equity (ROE) 22% 25% 10% 16%
Return on capital employed (ROCE) 9% 11% 5% 9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 1.19 1.19 1.83 1.46
Quick ratio 1.17 1.02 1.53 1.33
Turnover ratios
Asset turnover 1.38 1.23 0.90 0.86
Fixed asset turnover 1.88 1.68 1.21 1.14
Equity turnover 5.32 4.09 2.78 2.45
Profitability ratios
EBITDA margin 11% 13% 13% 17%
Operating profit margin 5% 7% 5% 9%
Net profit margin 4% 5% 3% 6%
Other ratios
Dividends to the State 0.00 0.00 6,572.60 0.00
Dividends paid / net profit 0.00 0.00 0.65 0.00

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

15.8%

Number of employees

1,723

Financial data provided as at end-December 2023

Management

  • Eglė ŠimėChief Executive Officer

Information as of: 2024/06/03

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vitalij RakovskiIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Vytautas RadzevičiusAB Lietuvos geležinkeliai
  • Irena Jankutė-BalkūnėAB Lietuvos geležinkeliai
  • Natalija BaranauskienėMinistry of Transport and Communications
  • Aivaras ČičelisIndependent member; UAB „Investicijų ir verslo garantijos“; BMI Executive Institute, VšĮ; UAB Švaros broliai; PRO BRO Car Wash Systems, UAB; PRO BRO Group, UAB; AB HISK

Information as of: 2024/06/03