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
P/L Statment
| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Revenue | 297,782 | 396,467 | 389,817 | 293,691 |
| Cost of goods sold | 260,067 | 354,627 | 331,927 | 246,737 |
| Gross profit (loss) | 37,716 | 41,840 | 57,890 | 46,954 |
| Gross profit margin | 13% | 11% | 15% | 16% |
| Operating expenses | 15,153 | 22,560 | 31,408 | 32,302 |
| Operating profit (loss) | 22,563 | 19,280 | 26,482 | 14,652 |
| Operating profit margin | 8% | 5% | 7% | 5% |
| EBITDA | 45,838 | 43,457 | 51,189 | 41,962 |
| EBITDA margin | 15% | 11% | 13% | 14% |
| Net profit (loss) | 18,668 | 16,277 | 21,252 | 13,480 |
| Net profit margin | 6% | 4% | 5% | 5% |
Balance sheet
| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Non-current assets | 191,276 | 210,368 | 232,035 | 243,232 |
| Intangible assets | 412 | 325 | 1,260 | 2,383 |
| Tangible assets | 190,864 | 208,916 | 228,370 | 239,813 |
| Financial assets | 1,128 | 1,385 | 16 | |
| Other non-current assets | 1,020 | 1,020 | ||
| Biological assets | ||||
| Current assets | 92,411 | 73,327 | 80,816 | 81,299 |
| Inventories and prepaid expenses | 2,054 | 1,309 | 11,648 | 13,436 |
| Accounts receivable in one year | 65,214 | 50,660 | 64,198 | 14,881 |
| Other current assets | ||||
| Cash and cash equivalents | 25,143 | 21,358 | 4,970 | 52,982 |
| Total assets | 285,528 | 286,939 | 315,754 | 325,645 |
| Equity | 58,190 | 74,467 | 95,400 | 105,512 |
| Minority share of capital | ||||
| Grants and subsidies | ||||
| Liabilities | 223,888 | 208,662 | 213,726 | 205,749 |
| Financial liabilities | 158,718 | 149,143 | 149,469 | 161,004 |
| Long-term liabilities | 149,349 | 147,010 | 145,626 | 161,174 |
| Short-term liabilities | 74,305 | 61,615 | 67,946 | 44,493 |
| Equity and liabilities | 285,528 | 286,939 | 315,754 | 325,645 |
Financial ratios
| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Capital return ratios | ||||
| Return on assets (ROA) | 7% | 6% | 7% | 4% |
| Return on equity (ROE) | 32% | 25% | 25% | 13% |
| Return on capital employed (ROCE) | 21% | 18% | 21% | 13% |
| Capital structure and liquidity ratios | ||||
| Debt / asset ratio (D/A) | 2.73 | 2.00 | 1.57 | 1.53 |
| Current Ratio | 1.24 | 1.19 | 1.19 | 1.83 |
| Quick ratio | 1.22 | 1.17 | 1.02 | 1.53 |
| Turnover ratios | ||||
| Asset turnover | 2.09 | 1.39 | 1.29 | 0.92 |
| Fixed asset turnover | 3.11 | 1.97 | 1.76 | 1.24 |
| Equity turnover | 10.23 | 5.98 | 4.59 | 2.92 |
| Profitability ratios | ||||
| EBITDA margin | 15% | 11% | 13% | 14% |
| Operating profit margin | 8% | 5% | 7% | 5% |
| Net profit margin | 6% | 4% | 5% | 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%
ROE
13.4%
Number of employees
1,929
Financial data provided as at end-December 2022
Management
- Eglė ŠimėChief Executive Officer
Information as of: 9/1/2023
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: 9/1/2023
