Oro navigacija

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.
KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024
- Adjusted EBIT profitability:
- 2022–2024 ≥ 3 percent.
- Annual ratio of financial debt to equity:
- 2023–2024 ≥ 0,08, but ≤0,3 times
- 2023–2024 ≥ 0,08, but ≤0,3 times
TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025
- Cost execution plan, %:
- 2023-2025 – 100
- VKC Good Governance Index:
- 2023 – A
- 2024-2025 – A+
- Average one-way OESV delay associated with air navigation services per flight:
- 2023-2025 ≤ 0,02
- Aviation Event Index:
- 2023 ≤ 1
- 2024 ≤ 1
- 2025 ≤ 1
- (total amount in 3 years may not exceed 3)
- Annual change in estimate of involvement,%:
- 2023-2025 +5
2021/22 GOOD CORPORATE GOVERNANCE INDEX
2020/21 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
2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|
Revenue | 27,697 | 15,802 | 26,167 | 26,866 |
Cost of goods sold | 18,252 | 15,791 | 16,718 | 19,078 |
Gross profit (loss) | 9,445 | 11 | 9,449 | 7,788 |
Gross profit margin | 34% | 0% | 36% | 29% |
Operating expenses | 5,565 | 4,810 | 4,362 | 5,501 |
Operating profit (loss) | 3,881 | -4,799 | 5,088 | 2,288 |
Operating profit margin | 14% | -30% | 19% | 9% |
EBITDA | 7,349 | -1,499 | 8,789 | 6,006 |
EBITDA margin | 27% | -9% | 34% | 22% |
Net profit (loss) | 3,095 | -4,988 | 4,898 | 1,950 |
Net profit margin | 11% | -32% | 19% | 7% |
2019-06 | 2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|---|
Revenue | 13,642 | 6,671 | 6,599 | 9,933 |
Cost of goods sold | 8,361 | 8,041 | 7,290 | 8,444 |
Gross profit (loss) | 5,281 | -1,370 | -691 | 1,489 |
Gross profit margin | % | % | % | % |
Operating expenses | 3,247 | 3,494 | 3,056 | 3,245 |
Operating profit (loss) | 2,034 | -4,864 | -3,746 | -1,755 |
Operating profit margin | % | % | % | % |
EBITDA | 3,297 | -3,240 | -1,906 | 84 |
EBITDA margin | 24% | -49% | -29% | 1% |
Net profit (loss) | 1,799 | -4,915 | -3,832 | -1,854 |
Net profit margin | 13% | -74% | -58% | -19% |
Balance sheet
2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|
Non-current assets | 43,084 | 41,398 | 45,145 | 45,889 |
Intangible assets | 70 | 38 | 64 | 183 |
Tangible assets | 41,755 | 39,848 | 38,198 | 36,196 |
Financial assets | 0 | 0 | 0 | |
Other non-current assets | 1,259 | 1,512 | 6,883 | 9,510 |
Current assets | 23,861 | 16,741 | 12,082 | 13,888 |
Inventories and prepaid expenses | 7 | 10 | 11 | 12 |
Accounts receivable in one year | 2,752 | 2,656 | 2,157 | 5,730 |
Other current assets | 2,000 | 2,000 | 3,000 | 3,000 |
Cash and cash equivalents | 19,102 | 12,075 | 6,914 | 5,146 |
Total assets | 69,488 | 59,566 | 59,848 | 61,561 |
Equity | 48,098 | 41,887 | 47,111 | 49,160 |
Grants and subsidies | 8,278 | 8,140 | 7,808 | 6,554 |
Liabilities | 11,171 | 8,363 | 3,825 | 3,773 |
Financial liabilities | 379 | 2,760 | 522 | 0 |
Long-term liabilities | 3,442 | 2,514 | 1,061 | 1,195 |
Short-term liabilities | 7,729 | 5,848 | 2,764 | 2,577 |
Equity and liabilities | 69,488 | 59,566 | 59,848 | 61,561 |
2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|
Non-current assets | 41,903 | 39,828 | 44,717 |
Intangible assets | 50 | 93 | 54 |
Tangible assets | 40,582 | 38,296 | 37,809 |
Financial assets | |||
Other non-current assets | 1,271 | 1,440 | 6,854 |
Current assets | 20,249 | 13,305 | 10,436 |
Inventories and prepaid expenses | 8 | 9 | 21 |
Accounts receivable in one year | 4,928 | 1,958 | 2,468 |
Other current assets | 2,000 | 3,000 | 3,000 |
Cash and cash equivalents | 13,313 | 8,339 | 4,947 |
Total assets | 63,077 | 55,587 | 57,999 |
Equity | 41,998 | 38,055 | 45,257 |
Grants and subsidies | 8,281 | 8,314 | 7,232 |
Liabilities | 11,721 | 7,013 | 4,351 |
Financial liabilities | 668 | 1,565 | |
Long-term liabilities | 3,235 | 975 | 1,061 |
Short-term liabilities | 8,462 | 6,038 | 3,290 |
Equity and liabilities | 63,077 | 55,587 | 57,999 |
Financial ratios
2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 4% | -8% | 8% | 3% |
Return on equity (ROE) | 6% | -11% | 11% | 4% |
Return on capital employed (ROCE) | 8% | -11% | 11% | 5% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.01 | 0.05 | 0.01 | 0.00 |
Current Ratio | 3.09 | 2.86 | 4.37 | 5.39 |
Quick ratio | 3.09 | 2.86 | 4.37 | 5.38 |
Turnover ratios | ||||
Asset turnover | 0.40 | 0.27 | 0.44 | 0.44 |
Fixed asset turnover | 0.64 | 0.38 | 0.58 | 0.59 |
Equity turnover | 0.58 | 0.38 | 0.56 | 0.55 |
Profitability ratios | ||||
EBITDA margin | 27% | -9% | 34% | 22% |
Operating profit margin | 14% | -30% | 19% | 9% |
Net profit margin | 11% | -32% | 19% | 7% |
Other ratios | ||||
Dividends to the State | 1,185.00 | 0.00 | 0.00 | 1,662.30 |
Dividends paid / net profit | 0.38 | 0.00 | 0.00 | 0.85 |
2019-06 | 2020-06 | 2021-06 | 2022-06 | |
---|---|---|---|---|
Capital return ratios | ||||
Return on assets (ROA) | 5% | % | -6% | 12% |
Return on equity (ROE) | 7% | % | -8% | 17% |
Return on capital employed (ROCE) | 13% | -18% | -15% | -7% |
Capital structure and liquidity ratios | ||||
Debt / asset ratio (D/A) | 0.01 | 0.04 | 0.01 | |
Current Ratio | 3.09 | 2.39 | 2.20 | 3.17 |
Quick ratio | 3.09 | 2.39 | 2.20 | 3.17 |
Turnover ratios | ||||
Asset turnover | 0.40 | 0.21 | 0.11 | 0.17 |
Fixed asset turnover | 0.61 | 0.32 | 0.16 | 0.23 |
Equity turnover | 0.57 | 0.32 | 0.16 | 0.24 |
Profitability ratios | ||||
EBITDA margin | 27% | -49% | -29% | 1% |
Operating profit margin | 14% | % | % | % |
Net profit margin | 11% | -74% | -58% | -19% |
Other ratios | ||||
Dividends to the State | 1,185.00 | |||
Dividends paid / net profit | 0.38 |
Financial statments
Expectations of the state
Target return on equity undefined
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%
Return to the State
1.7 EUR milion
ROE
4.5%
Number of employees
287
Financial data provided as at end-December 2022
Management
- Saulius BatavičiusChief Executive Officer
Information as of: 2023/09/01
Board of Directors
CHAIRMAN OF THE BOARD OF DIRECTORS
- Jūratė StanišauskienėIndependent member
MEMBERS OF THE BOARD OF DIRECTORS
- Gediminas AlmantasLithuanian Red Cross; Open Lithuania Foundation; VšĮ Globalaus švietimo iniciatyvos; UAB DOMINICUS LITUANUS; AB “LTG Infra“; Independent member; AB "Novaturas"
- Mantas ŠukevičiusUAB Victory Funds; MB Buteo Invest; JSCB Qishloq Qurilish Bank; Independent member
- Darius StravinskasMinistry of Transport and Communications
- Vytautas VaižmužisVĮ Oro navigacija
Information as of: 2023/09/01