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

	2021	2022	2023	2024
Revenue	57,160	71,714	81,868	96,315
Cost of goods sold	42,790	50,867	53,509	61,028
Gross profit (loss)	14,370	20,847	28,359	35,288
Gross profit margin	25%	29%	35%	37%
Operating expenses	9,842	12,639	13,689	13,729
Operating profit (loss)	4,528	8,208	14,670	21,559
Operating profit margin	8%	11%	18%	22%
EBITDA	17,399	21,834	28,064	35,235
EBITDA margin	30%	30%	34%	37%
Net profit (loss)	3,948	7,134	13,091	19,119
Net profit margin	7%	10%	16%	20%

* 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

	2021	2022	2023	2024
Non-current assets	127,430	120,668	124,579	157,098
Intangible assets	104	591	502	398
Tangible assets	126,713	119,430	123,624	156,441
Financial assets
Other non-current assets	613	647	453	259
Current assets	34,193	48,986	57,049	37,487
Inventories and prepaid expenses	2,191	1,319	586	522
Accounts receivable in one year	2,640	5,114	3,143	9,338
Other current assets			0	0
Cash and cash equivalents	29,081	42,126	52,823	27,175
Total assets	162,346	170,729	183,265	196,023
Equity	147,682	154,816	162,556	172,511
Grants and subsidies
Liabilities	10,144	13,412	16,083	17,129
Financial liabilities	2,323	3,975	3,867	4,877
Long-term liabilities	2,256	3,731	3,627	4,348
Short-term liabilities	7,888	9,681	12,456	12,781
Equity and liabilities	162,346	170,729	183,265	196,023

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

Financial ratios

Annual
Semi-annual

	2021	2022	2023	2024
Capital return ratios
Return on assets (ROA)	2%	4%	7%	10%
Return on equity (ROE)	3%	5%	8%	11%
Return on capital employed (ROCE)	3%	5%	9%	12%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)	0.01	0.02	0.02	0.02
Current Ratio	4.33	5.06	4.58	2.93
Quick ratio	4.06	4.92	4.53	2.89
Turnover ratios
Asset turnover	0.35	0.42	0.45	0.49
Fixed asset turnover	0.45	0.59	0.66	0.61
Equity turnover	0.39	0.46	0.50	0.56
Profitability ratios
EBITDA margin	30%	30%	34%	37%
Operating profit margin	8%	11%	18%	22%
Net profit margin	7%	10%	16%	20%
Other ratios
Dividends to the State	0.00	5,350.20	9,163.40	12,427.10
Dividends paid / net profit	0.00	0.75	0.70	0.65

* Left axis

** Right axis

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

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%
Contacts https://www.litrail.lt/ltg-link

Return to the State

12.4 EUR milion

ROE

11.4%

Number of employees

633

Financial data provided as at end-December 2024

Management

Kristina MeidėChief Executive Officer

Term of office expires: 2029/02/01

The information is relevant

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

Aurelija KazlauskienėIndependenr member

MEMBERS OF THE BOARD OF DIRECTORS

Irmantas BeržauskasAB "Lietuvos geležinkeliai", Chief Legal & Organizational Development Officer

Aistė GasiūnienėMinistry of Transport and Communications

Viktoras BachmetjevasIndependent member

Gediminas ŠečkusAB "Lietuvos geležinkeliai", Chief Resilience Officer

Term of office expires: 2027/01/23