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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

2019 2020 2021
Revenue 9,155 13,678 19,531
Cost of goods sold 15,240 39,714 42,790
Gross profit (loss) -6,084 -26,035 -23,259
Gross profit margin -66% -190% -119%
Operating expenses 3,122 10,509 9,842
Operating profit (loss) -9,206 -36,544 -33,101
Operating profit margin -101% -267% -169%
EBITDA 5,434 11,978 17,399
EBITDA margin 59% 88% 89%
Net profit (loss) 1,163 -207 3,948
Net profit margin 13% -2% 20%

Balance sheet

2019 2020 2021
Non-current assets 142,023 134,724 127,430
Intangible assets 124 0 104
Tangible assets 141,045 133,739 126,713
Financial assets
Other non-current assets 855 985 613
Biological assets
Current assets 10,731 20,007 34,193
Inventories and prepaid expenses 1,133 951 2,191
Accounts receivable in one year 2,130 1,631 2,640
Other current assets
Cash and cash equivalents 7,288 17,389 29,081
Total assets 154,035 155,155 162,346
Equity 143,941 143,734 147,682
Minority share of capital
Grants and subsidies
Liabilities 9,350 7,086 10,632
Financial liabilities 275 1,017 2,323
Long-term liabilities 179 869 2,256
Short-term liabilities 8,503 5,547 7,888
Equity and liabilities 154,035 155,155 162,346

Financial ratios

2019 2020 2021
Capital return ratios
Return on assets (ROA) 2% -0% 2%
Return on equity (ROE) 2% -0% 3%
Return on capital employed (ROCE) 2% -1% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.01 0.02
Current Ratio 1.26 3.61 4.33
Quick ratio 1.13 3.44 4.06
Turnover ratios
Asset turnover 0.12 0.09 0.12
Fixed asset turnover 0.13 0.10 0.15
Equity turnover 0.13 0.10 0.13
Profitability ratios
EBITDA margin 59% 88% 89%
Operating profit margin -101% -267% -169%
Net profit margin 13% -2% 20%
Other ratios
Dividends to the State
Dividends paid / net profit

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
ROE

2.7%

Number of employees

595

Financial data provided as at end-December 2021

Management

  • Linas BaužysChief Executive Officer

Information as of: 2023/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Aurelija KazlauskienėIndependenr member

MEMBERS OF THE BOARD OF DIRECTORS

  • Irmantas BeržauskasAB Lietuvos geležinkeliai
  • Andrej KosiakovAB Lietuvos geležinkeliai
  • Aistė GasiūnienėMinistry of Transport and Communications
  • Viktoras BachmetjevasIndependent member

Information as of: 2023/05/01