LTG Infra

LTG Infra is part of the Lithuanian Railways group. The company’s main activity is the management, use and disposal of railway infrastructure under the right of entrustment, as well as the performance of the functions of a public railway infrastructure manager. The company was registered on 1 July 2019.

Financial results

	2019	2020	2021	2022
Revenue	13,844	222,607	191,863	189,165
Cost of goods sold	11,747	159,214	153,454	146,892
Gross profit (loss)	2,097	63,393	38,409	42,273
Gross profit margin	15%	28%	20%	22%
Operating expenses	3,550	37,670	41,531	51,785
Operating profit (loss)	-1,453	25,724	-3,122	-9,512
Operating profit margin	-10%	12%	-2%	-5%
EBITDA	4,588	103,148	65,030	55,517
EBITDA margin	33%	46%	34%	29%
Net profit (loss)	-1,395	27,566	-2,873	-8,777
Net profit margin	-10%	12%	-1%	-5%

* 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

	2019	2020	2021	2022
Non-current assets	1,396,144	1,491,473	1,503,973	1,561,514
Intangible assets	15,862	18,528	17,109	16,019
Tangible assets	1,380,282	1,472,945	1,486,864	1,545,429
Financial assets
Other non-current assets				66
Biological assets
Current assets	67,648	44,052	46,196	140,703
Inventories and prepaid expenses	17,288	5,852	10,820	5,693
Accounts receivable in one year	36,911	27,883	22,250	22,680
Other current assets
Cash and cash equivalents	13,450	4,566	10,921	112,007
Total assets	1,463,926	1,548,599	1,554,134	1,704,359
Equity	672,272	679,799	670,928	659,303
Minority share of capital
Grants and subsidies	555,248	580,728	603,031	808,340
Liabilities	232,276	271,366	250,254	229,888
Financial liabilities	145,807	179,600	160,200	143,118
Long-term liabilities	153,625	181,338	161,179	152,444
Short-term liabilities	64,251	75,367	74,382	62,747
Equity and liabilities	1,463,926	1,548,599	1,554,134	1,704,359

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

Financial ratios

Annual
Semi-annual

	2019	2020	2021	2022
Capital return ratios
Return on assets (ROA)	-0%	2%	-0%	-1%
Return on equity (ROE)	-0%	4%	-0%	-1%
Return on capital employed (ROCE)	-0%	5%	-0%	-1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.22	0.26	0.24	0.22
Current Ratio	1.05	0.58	0.62	2.24
Quick ratio	0.78	0.51	0.48	2.15
Turnover ratios
Asset turnover	0.02	0.15	0.12	0.12
Fixed asset turnover	0.02	0.15	0.13	0.12
Equity turnover	0.04	0.33	0.28	0.28
Profitability ratios
EBITDA margin	33%	46%	34%	29%
Operating profit margin	-10%	12%	-2%	-5%
Net profit margin	-10%	12%	-1%	-5%
Other ratios
Dividends to the State
Dividends paid / net profit

* Left axis

** Right axis

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

About the company

Official nameAB „LTG Infra"
Legal formPublic limited liability company (AB)
Company code305202934
SectorTransport and Communications
Line of businessManagement, use and disposal of railway infrastructure and performance of the functions of public infrastructure manager.
Accountability„Lietuvos geležinkeliai“ group of companies
Share indirectly belonging to the State100%

https://ltginfra.lt/

ROE

-1.3%

Number of employees

2,453

Financial data provided as at end-December 2022

Management

Rūta JakubauskienėChief Executive Officer

Information as of: 9/1/2023

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

Gediminas AlmantasIndependent member

MEMBERS OF THE BOARD OF DIRECTORS

Sigitas KubilisAB Lietuvos geležinkeliai

Ieva LauraitytėAB Lietuvos geležinkeliai

Haroldas NausėdaIndependent member

Ramūnas RimkusMinistry of Transport and Communications