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

	2020	2021	2022	2023
Revenue	222,607	191,863	189,165	177,827
Cost of goods sold	159,214	153,454	146,892	137,404
Gross profit (loss)	63,393	38,409	42,273	40,423
Gross profit margin	28%	20%	22%	23%
Operating expenses	37,670	41,531	51,785	44,326
Operating profit (loss)	25,724	-3,122	-9,512	-3,903
Operating profit margin	12%	-2%	-5%	-2%
EBITDA	103,148	65,030	52,794	58,965
EBITDA margin	46%	34%	28%	33%
Net profit (loss)	27,566	-2,873	-11,501	-8,738
Net profit margin	12%	-1%	-6%	-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

	2020	2021	2022	2023
Non-current assets	1,491,473	1,503,973	1,561,514	1,776,395
Intangible assets	18,528	17,109	16,019	13,610
Tangible assets	1,472,945	1,486,864	1,545,429	1,762,549
Financial assets				132
Other non-current assets			66	105
Current assets	44,052	46,196	140,703	117,157
Inventories and prepaid expenses	5,852	10,820	5,693	4,624
Accounts receivable in one year	27,883	22,250	22,680	31,773
Other current assets
Cash and cash equivalents	4,566	10,921	112,007	77,022
Total assets	1,548,599	1,554,134	1,704,359	1,894,914
Equity	679,799	670,928	659,303	641,907
Grants and subsidies	580,728	603,031	808,340	976,600
Liabilities	256,705	235,560	215,191	253,758
Financial liabilities	179,600	160,200	143,118	128,881
Long-term liabilities	181,338	161,179	152,444	129,584
Short-term liabilities	75,367	74,382	62,747	124,175
Equity and liabilities	1,548,599	1,554,134	1,704,359	1,894,914

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

Financial ratios

Annual
Semi-annual

	2020	2021	2022	2023
Capital return ratios
Return on assets (ROA)	2%	-0%	-1%	-0%
Return on equity (ROE)	4%	-0%	-2%	-1%
Return on capital employed (ROCE)	3%	-0%	-1%	-1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio	0.58	0.62	2.24	0.94
Quick ratio	0.51	0.48	2.15	0.91
Turnover ratios
Asset turnover	0.14	0.12	0.11	0.09
Fixed asset turnover	0.15	0.13	0.12	0.10
Equity turnover	0.33	0.29	0.29	0.28
Profitability ratios
EBITDA margin	46%	34%	28%	33%
Operating profit margin	12%	-2%	-5%	-2%
Net profit margin	12%	-1%	-6%	-5%
Other ratios
Dividends to the State	0.00	0.00	0.00	0.00
Dividends paid / net profit	0.00	0.00	0.00	0.00

* 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

2,418

Financial data provided as at end-December 2023

Management

Vytis ŽalimasChief Executive Officer

Information as of: 2024/07/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

Gediminas AlmantasIndependent member; AB „Novaturas“; AB Lietuvos oro uostai

MEMBERS OF THE BOARD OF DIRECTORS

Sigitas KubilisAB Lietuvos geležinkeliai

Ieva LauraitytėAB Lietuvos geležinkeliai

Haroldas NausėdaIndependent member; UAB Ignitis; Ignitis Eesti OÜ; Ignitis Suomi Oy; Ignitis Polska sp. z o.o.

Ramūnas RimkusMinistry of Transport and Communications