LTG Link
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%
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: 2024/07/01
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: 2024/07/01
