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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 2022
Revenue 9,155 13,678 57,160 71,714
Cost of goods sold 15,240 39,714 42,790 50,867
Gross profit (loss) -6,084 -26,035 14,370 20,847
Gross profit margin -66% -190% 25% 29%
Operating expenses 3,122 10,509 9,842 12,639
Operating profit (loss) -9,206 -36,544 4,528 8,208
Operating profit margin -101% -267% 8% 11%
EBITDA 5,434 11,978 17,399 21,549
EBITDA margin 59% 88% 30% 30%
Net profit (loss) 1,163 -207 3,948 6,849
Net profit margin 13% -2% 7% 10%

* Left axis

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*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

2019 2020 2021 2022
Non-current assets 142,023 134,724 127,430 120,668
Intangible assets 124 0 104 591
Tangible assets 141,045 133,739 126,713 119,430
Financial assets
Other non-current assets 855 985 613 647
Biological assets
Current assets 10,731 20,007 34,193 48,986
Inventories and prepaid expenses 1,133 951 2,191 1,319
Accounts receivable in one year 2,130 1,631 2,640 5,114
Other current assets
Cash and cash equivalents 7,288 17,389 29,081 42,126
Total assets 154,035 155,155 162,346 170,729
Equity 143,941 143,734 147,682 154,816
Minority share of capital
Grants and subsidies
Liabilities 9,350 7,086 10,632 14,189
Financial liabilities 275 1,017 2,323 3,975
Long-term liabilities 179 869 2,256 3,731
Short-term liabilities 8,503 5,547 7,888 9,681
Equity and liabilities 154,035 155,155 162,346 170,729

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

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 1% -0% 2% 4%
Return on equity (ROE) 1% -0% 3% 5%
Return on capital employed (ROCE) 2% -1% 6% 10%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.01 0.02 0.03
Current Ratio 1.26 3.61 4.33 5.06
Quick ratio 1.13 3.44 4.06 4.92
Turnover ratios
Asset turnover 0.12 0.09 0.36 0.43
Fixed asset turnover 0.13 0.10 0.44 0.58
Equity turnover 0.13 0.10 0.39 0.47
Profitability ratios
EBITDA margin 59% 88% 30% 30%
Operating profit margin -101% -267% 8% 11%
Net profit margin 13% -2% 7% 10%
Other ratios
Dividends to the State
Dividends paid / net profit

* 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%
https://www.litrail.lt/ltg-link
ROE

4.5%

Number of employees

567

Financial data provided as at end-December 2022

Management

  • Gediminas ŠečkusChief Executive Officer

Information as of: 2023/11/03

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; SĮ „Susisiekimo paslaugos“

Information as of: 2023/11/03