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Valdymo koordinavimo centras

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.

Financial results

P/L Statment

2016 2017 2018 2019
Revenue 28,246 28,757 29,519 27,697
Cost of goods sold 19,549 19,780 18,613 18,252
Gross profit (loss) 8,697 8,977 10,907 9,445
Gross profit margin 31% 31% 37% 34%
Operating expenses 6,359 7,582 6,233 5,565
Operating profit (loss) 2,338 1,395 4,673 3,881
Operating profit margin 8% 5% 16% 14%
EBITDA 4,997 4,467 7,338 7,349
EBITDA margin 18% 16% 25% 27%
Net profit (loss) 1,890 1,551 4,329 3,095
Net profit margin 7% 5% 15% 11%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 13,765 15,043 13,642 6,671
Cost of goods sold 10,110 9,068 8,361 8,041
Gross profit (loss) 3,655 5,975 5,281 -1,370
Gross profit margin 27% 40% 39% -21%
Operating expenses 3,463 3,210 3,247 3,494
Operating profit (loss) 192 2,765 2,034 -4,864
Operating profit margin 1% 18% 15% -73%
EBITDA 1,627 4,353 3,297 -3,240
EBITDA margin 12% 29% 24% -49%
Net profit (loss) 1,799 -4,915
Net profit margin -1% 18% 13% -74%

* Left axis

** Right axis

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

Balance sheet

2016 2017 2018 2019
Non-current assets 32,813 37,956 47,146 43,084
Intangible assets 242 127 121 70
Tangible assets 29,571 37,829 45,972 41,755
Financial assets 3,000
Other non-current assets 1,054 1,259
Biological assets
Current assets 18,240 14,529 19,363 23,861
Inventories and prepaid expenses 11 32 4 7
Accounts receivable in one year 5,229 2,858 2,777 2,752
Other current assets 9,200 5,000 2,000 2,000
Cash and cash equivalents 3,800 6,639 14,582 19,102
Total assets 51,053 55,170 69,376 69,488
Equity 42,565 46,017 49,595 48,098
Minority share of capital
Grants and subsidies 2,677 2,786 5,911 8,278
Liabilities 5,811 6,255 11,239 11,334
Financial liabilities
Long-term liabilities 1,439 1,100 3,915 3,442
Short-term liabilities 3,543 3,730 7,099 7,729
Equity and liabilities 51,053 55,170 69,376 69,488
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 35,567 42,699 46,950 41,903
Intangible assets 203 109 92 50
Tangible assets 32,364 42,590 45,737 40,582
Financial assets 3,000
Other non-current assets 1,121 1,271
Biological assets
Current assets 16,664 16,897 20,010 20,249
Inventories and prepaid expenses 674 869 6 8
Accounts receivable in one year 6,233 6,493 6,049 4,928
Other current assets 5,000 2,000 2,000 2,000
Cash and cash equivalents 4,757 7,535 11,956 13,313
Total assets 52,231 59,596 67,773 63,077
Equity 46,031 48,226 50,286 41,998
Minority share of capital
Grants and subsidies 2,592 3,283 6,688 8,281
Liabilities 3,608 8,087 10,773 11,721
Financial liabilities 668
Long-term liabilities 509 2,525 3,235
Short-term liabilities 3,099 5,562 5,508 8,462
Equity and liabilities 52,231 59,596 67,773 63,077

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

Financial ratios

2016 2017 2018 2019
Capital return ratios
Return on assets (ROA) 4% 3% 7% 5%
Return on equity (ROE) 5% 4% 10% 7%
Return on capital employed (ROCE) 8% 6% 13% 13%
Capital structure and liquidity ratios
Debt / asset ratio (D/A)
Current Ratio 5.15 3.90 2.73 3.09
Quick ratio 5.15 3.89 2.73 3.09
Turnover ratios
Asset turnover 0.58 0.54 0.47 0.40
Fixed asset turnover 0.85 0.81 0.69 0.61
Equity turnover 0.65 0.65 0.62 0.57
Profitability ratios
EBITDA margin 18% 16% 25% 27%
Operating profit margin 8% 5% 16% 14%
Net profit margin 7% 5% 15% 11%
Other ratios
Dividends to the State 500.00 1,100.00 1,185.00
Dividends paid / net profit 0.32 0.25 0.38

* Left axis

** Right axis

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

2017-06-30 2018-06-30 2019-06-30 2020-06-30
Capital return ratios
Return on assets (ROA) 3% 11% 6% -5%
Return on equity (ROE) 4% 13% 7% -7%
Return on capital employed (ROCE) 6% 10% 6% -18%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02
Current Ratio 3.90 3.04 3.63 2.39
Quick ratio 3.89 2.88 3.63 2.39
Turnover ratios
Asset turnover 0.54 0.27 0.21 0.10
Fixed asset turnover 0.81 0.38 0.30 0.15
Equity turnover 0.65 0.32 0.28 0.14
Profitability ratios
EBITDA margin 16% 29% 24% -49%
Operating profit margin 5% 18% 15% -73%
Net profit margin 5% 18% 13% -74%
Other ratios
Dividends to the State 500.00
Dividends paid / net profit 0.32

Financial statments

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

Target return on equity

3.7%

Letter of Expectations

About the company

  • Official nameVĮ „Oro navigacija“
  • Legal formState enterprise (VĮ)
  • 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

1.5 EUR milion

ROE

6.9%

Number of employees

291

Financial data provided as at end-December 2019

Management

  • Marius BeliūnasDirector General

Information as of: 2020/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Dangirutis JanušasUAB Verslo konsultacijų spektras; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Gediminas AlmantasOpen Lithuania Foundation; Independent member
  • Mikas JovaišasAB Lietuvos geležinkeliai; Independent member
  • Vytautas VaižmužisVĮ Oro navigacija
  • Sergėjus VolkovasMinistry of Transport and Commmunications, Senior adviser

Information as of: 2020/10/01