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Valdymo koordinavimo centras Governance Coordination Centre

Indirectly Owned State Enterprises

LTG Link is part of the Lithuanian Railways Group, which encourages people to travel by train, which is an environmentally friendly and safe mean of transport. The company’s goal is to create a new travel culture and become the first choice for passengers, valued for its high level of service, operational efficiency and management. From 1 September 2019, the company continues to operate as a separate legal entity, formerly known as the Passenger Transport Directorate of AB Lietuvos geležinkeliai.

Financial results

P/L Statment

2020 2021 2022 2023
Revenue 13,678 57,160 71,714 81,868
Cost of goods sold 39,714 42,790 50,867 53,509
Gross profit (loss) -26,035 14,370 20,847 28,359
Gross profit margin -190% 25% 29% 35%
Operating expenses 10,509 9,842 12,639 13,689
Operating profit (loss) -36,544 4,528 8,208 14,670
Operating profit margin -267% 8% 11% 18%
EBITDA 11,978 17,399 21,834 28,064
EBITDA margin 88% 30% 30% 34%
Net profit (loss) -207 3,948 7,134 13,091
Net profit margin -2% 7% 10% 16%

Balance sheet

2020 2021 2022 2023
Non-current assets 134,724 127,430 120,668 124,579
Intangible assets 0 104 591 502
Tangible assets 133,739 126,713 119,430 123,624
Financial assets
Other non-current assets 985 613 647 453
Current assets 20,007 34,193 48,986 57,049
Inventories and prepaid expenses 951 2,191 1,319 586
Accounts receivable in one year 1,631 2,640 5,114 3,143
Other current assets
Cash and cash equivalents 17,389 29,081 42,126 52,823
Total assets 155,155 162,346 170,729 183,265
Equity 143,734 147,682 154,816 162,556
Grants and subsidies
Liabilities 6,416 10,144 13,412 16,083
Financial liabilities 1,017 2,323 3,975 3,867
Long-term liabilities 869 2,256 3,731 3,627
Short-term liabilities 5,547 7,888 9,681 12,456
Equity and liabilities 155,155 162,346 170,729 183,265

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) -0% 2% 4% 7%
Return on equity (ROE) -0% 3% 5% 8%
Return on capital employed (ROCE) -25% 3% 5% 9%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 3.61 4.33 5.06 4.58
Quick ratio 3.44 4.06 4.92 4.53
Turnover ratios
Asset turnover 0.09 0.35 0.42 0.45
Fixed asset turnover 0.10 0.45 0.59 0.66
Equity turnover 0.10 0.39 0.46 0.50
Profitability ratios
EBITDA margin 88% 30% 30% 34%
Operating profit margin -267% 8% 11% 18%
Net profit margin -2% 7% 10% 16%
Other ratios
Dividends to the State 0.00 0.00 5,350.20 9,163.40
Dividends paid / net profit 0.00 0.00 0.75 0.70

About the company

  • Official nameUAB „LTG Link“
  • Legal formPrivate limited liability company (UAB)
  • Company code305052228
  • SectorTransport and Communications
  • Line of businessResponsible for train travel in Lithuania, international travel and transit travel to the Kaliningrad region.
  • Accountability„Lietuvos geležinkeliai“ group of companies
  • Share indirectly belonging to the State100%
https://www.litrail.lt/ltg-link
Return to the State

9.2 EUR milion

ROE

8.2%

Number of employees

593

Financial data provided as at end-December 2023

Management

  • Kristina MeidėChief Executive Officer

Information as of: 2024/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Aurelija KazlauskienėIndependenr member; AB Lietuvos draudimas

MEMBERS OF THE BOARD OF DIRECTORS

  • Irmantas BeržauskasAB Lietuvos geležinkeliai
  • Andrej KosiakovAB Lietuvos geležinkeliai
  • Aistė GasiūnienėMinistry of Transport and Communications
  • Viktoras BachmetjevasIndependent member; Vytautas Magnus University; MB Hubris; MB Kolibrio knygos; VšĮ Civic Initiatives; VšĮ Open Lithuania Foundation

Information as of: 2024/10/01