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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

Oro navigacija is a state-owned company founded in 1995. It is a certified European air navigation service provider, that provides air traffic, communication, navigation and surveillance, air navigation information services to aircrafts flying in the Republic of Lithuania.

         2023/24 GOOD CORPORATE GOVERNANCE INDEX 

                

         2022/23 GOOD CORPORATE GOVERNANCE INDEX     

Sk – Transparency dimension
KO – Board dimension
SP – Strategic planning and target achievement dimension
GI – Good governance ratio

Financial results

P/L Statment

2020 2021 2022 2023
Revenue 15,802 26,167 26,866 30,345
Cost of goods sold 15,791 16,718 19,078 21,442
Gross profit (loss) 11 9,449 7,788 8,902
Gross profit margin 0% 36% 29% 29%
Operating expenses 4,810 4,362 5,501 6,467
Operating profit (loss) -4,799 5,088 2,288 2,435
Operating profit margin -30% 19% 9% 8%
EBITDA -1,499 8,789 6,006 6,210
EBITDA margin -9% 34% 22% 20%
Net profit (loss) -4,988 4,898 1,950 2,157
Net profit margin -32% 19% 7% 7%
2021-06 2022-06 2023-06 2024-06
Revenue 6,599 9,933 13,383 15,761
Cost of goods sold 7,290 8,444 9,612 10,721
Gross profit (loss) -691 1,489 3,770 5,040
Gross profit margin -10% 15% 28% 32%
Operating expenses 3,056 3,245 3,546 3,856
Operating profit (loss) -3,746 -1,755 225 1,184
Operating profit margin -57% -18% 2% 8%
EBITDA -1,906 234 2,166 3,285
EBITDA margin -29% 2% 16% 21%
Net profit (loss) -3,832 -1,854 169 1,486
Net profit margin -58% -19% 1% 9%

* Left axis

** Right axis

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

Balance sheet

2020 2021 2022 2023
Non-current assets 41,398 45,145 45,889 42,185
Intangible assets 38 64 183 282
Tangible assets 39,848 38,198 36,196 32,694
Financial assets 0 0 0 0
Other non-current assets 1,512 6,883 9,510 9,209
Current assets 16,741 12,082 13,888 20,861
Inventories and prepaid expenses 10 11 12 9
Accounts receivable in one year 2,656 2,157 5,730 4,288
Other current assets 2,000 3,000 3,000 5,000
Cash and cash equivalents 12,075 6,914 5,146 11,565
Total assets 59,566 59,848 61,561 66,144
Equity 41,887 47,111 49,160 49,681
Grants and subsidies 8,140 7,808 0 0
Liabilities 8,363 3,825 10,326 14,204
Financial liabilities 2,760 522 0 0
Long-term liabilities 2,514 1,061 6,804 9,169
Short-term liabilities 5,848 2,764 3,522 5,035
Equity and liabilities 59,566 59,848 61,561 66,144
2021-06 2022-06 2023-06 2024-06
Non-current assets 39,828 44,717 44,200 39,138
Intangible assets 93 54 303 496
Tangible assets 38,296 37,809 34,463 31,138
Financial assets 0 0 0 0
Other non-current assets 1,440 6,854 9,434 7,504
Current assets 2,453 2,712 1,269 0
Inventories and prepaid expenses 9 21 8 12
Accounts receivable in one year 1,958 2,468 8,867 11,800
Other current assets 3,000 3,000 4,000 7,500
Cash and cash equivalents 8,339 4,947 2,968 4,383
Total assets 55,587 57,999 61,376 62,832
Equity 38,055 45,257 47,667 48,871
Grants and subsidies 8,314 7,232 6,084 0
Liabilities 7,013 4,351 6,350 13,961
Financial liabilities 1,565 0 0 0
Long-term liabilities 975 1,061 1,195 5,548
Short-term liabilities 6,038 3,290 5,155 8,413
Equity and liabilities 55,587 57,999 61,376 62,832

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

Financial ratios

2020 2021 2022 2023
Capital return ratios
Return on assets (ROA) -8% 8% 3% 3%
Return on equity (ROE) -11% 11% 4% 4%
Return on capital employed (ROCE) -11% 11% 4% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.05 0.01 0.00 0.00
Current Ratio 2.86 4.37 3.94 4.14
Quick ratio 2.86 4.37 3.94 4.14
Turnover ratios
Asset turnover 0.27 0.44 0.44 0.46
Fixed asset turnover 0.38 0.58 0.59 0.72
Equity turnover 0.38 0.56 0.55 0.61
Profitability ratios
EBITDA margin -9% 34% 22% 20%
Operating profit margin -30% 19% 9% 8%
Net profit margin -32% 19% 7% 7%
Other ratios
Dividends to the State 0.00 0.00 1,662.30 2,295.90
Dividends paid / net profit 0.00 0.00 0.85 1.06

* Left axis

** Right axis

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

2021-06 2022-06 2023-06 2024-06
Capital return ratios
Return on assets (ROA) -7% 12% 7% 6%
Return on equity (ROE) -10% 17% 9% 7%
Return on capital employed (ROCE) -10% -4% 0% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.03 0.00 0.00 0.00
Current Ratio 2.20 3.17 3.09 2.82
Quick ratio 2.20 3.17 3.08 2.81
Turnover ratios
Asset turnover 0.12 0.17 0.22 0.25
Fixed asset turnover 0.17 0.22 0.30 0.40
Equity turnover 0.17 0.22 0.28 0.32
Profitability ratios
EBITDA margin -29% 2% 16% 21%
Operating profit margin -57% -18% 2% 8%
Net profit margin -58% -19% 1% 9%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2023 m. 6 mėn. tarpinės ataskaitos 2023 m. metinės ataskaitos
2022 m. 6 mėn. tarpinės ataskaitos 2022 m. metinės ataskaitos
2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos
2020 m. 6 mėn. tarpinės ataskaitos 2020 m. metinės ataskaitos
2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos
2018 m. metinės ataskaitos 2018 m. 6 mėn. tarpinės ataskaitos
2017 m. 6 mėn. tarpinės ataskaitos 2017 m. metinės ataskaitos
2016 m. metinės ataskaitos 2016 m. 6 mėn. tarpinės ataskaitos 2016 m. 3 mėn. tarpinės ataskaitos
2015 m. metinės ataskaitos 2015 m. 12 mėn. tarpinės ataskaitos 2015 m. 9 mėn. tarpinės ataskaitos 2015 m. 6 mėn. tarpinės ataskaitos 2015 m. 3 mėn. tarpinės ataskaitos
2014 m. metinės ataskaitos 2014 m. 12 mėn. tarpinės ataskaitos 2014 m. 9 mėn. tarpinės ataskaitos 2014 m. 6 mėn. tarpinės ataskaitos 2014 m. 3 mėn. tarpinės ataskaitos
2012 m. metinės ataskaitos
2013 m. 3 mėn. tarpinės ataskaitos 2013 m. 6 mėn. tarpinės ataskaitos 2013 m. metinės ataskaitos 2013 m. 12 mėn. tarpinės ataskaitos 2013 m. 9 mėn. tarpinės ataskaitos
2011 m. metinės ataskaitos
2010 m. metinės ataskaitos

Expectations of the state

Key performance indicator
Letter of Expectations

About the company

  • Official nameAB „Oro navigacija“
  • Legal formPublic limited liability company (AB)
  • Company code210060460
  • SectorTransport and Communications
  • Line of businessAir space supervision and navigation
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.ans.lt/
Return to the State

2.3 EUR milion

ROE

4.4%

Number of employees

290

Financial data provided as at end-December 2023

Management

  • Saulius BatavičiusChief Executive Officer

Information as of: 2024/11/04

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Jūratė StanišauskienėIndependent member; UAB Legal Balance; Silver ventures; AB Lietuvos paštas

MEMBERS OF THE BOARD OF DIRECTORS

  • Andrius ŠniuolisIndependent member; AB Energijos skirstymo operatorius
  • Mantas ŠukevičiusIndependent member; UAB Demus asset management; MB Buteo Invest; JSCB “Biznesni rivojlantirish banki”; AB Detonas; AB KN Energies
  • Darius StravinskasMinistry of Transport and Communications
  • Vytautas VaižmužisAB Oro navigacija

Information as of: 2024/11/04

VMU
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RC
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TB
IGN
KN
IAE
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