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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB Smiltynės perkėla is an inland waterway transport company registered in 1991 after the reorganisation of the Nemuno laivininkystė. The company’s main activity is ferrying passengers and vehicles across the Curonian Lagoon. Other activities include the rental of the ferry, premises and advertising space.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual EBITDA margin:
    • 2022–2024 ≥ 23 percent.
  • Annual ratio of financial debt to equity:
    • 2022–2024 limit 0,5–1,9 times

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025

  • Average transfer operating costs per trip, Eur:
    • 2023 ≤ 235
    • 2024 ≤ 272
    • 2025 ≤ 308
  • Due to technical problems with a repair time> 24 hours:
    • 2023-2025 average quantity for the period < 8 pcs. per year
  • Electricity consumption change compared to 2021, percent:
    • 2023-2025 every year -5
  • Loyal Customer (eNPS) Rate,%:
    • 2023 > 57
    • 2024 > 58
    • 2025 > 59
  • Percentage of employees involved:
    • 2023-2025 > 75

        2022/23 GOOD CORPORATE GOVERNANCE INDEX 

     

        2021/22 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 4,985 4,878 5,015 6,377
Cost of goods sold 2,562 2,342 2,545 3,989
Gross profit (loss) 2,424 2,536 2,471 2,389
Gross profit margin 49% 52% 49% 37%
Operating expenses 1,211 1,173 1,356 1,526
Operating profit (loss) 545 682 482 51
Operating profit margin 11% 14% 10% 1%
EBITDA 1,813 1,972 1,466 1,505
EBITDA margin 36% 40% 29% 24%
Net profit (loss) 655 763 230 213
Net profit margin 13% 16% 5% 3%
2020-06 2021-06 2022-06 2023-06
Revenue 1,835 2,042 2,377 3,181
Cost of goods sold 1,093 1,092 1,774 1,911
Gross profit (loss) 742 950 603 1,270
Gross profit margin 40% 47% 25% 40%
Operating expenses 551 568 714 720
Operating profit (loss) -111 72 -480 125
Operating profit margin -6% 4% -20% 4%
EBITDA 487 632 279 754
EBITDA margin 27% 31% 12% 24%
Net profit (loss) -33 86 -327 120
Net profit margin -2% 4% -14% 4%

* Left axis

** Right axis

*** 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 4,440 4,413 9,519 9,252
Intangible assets 28 98 59 34
Tangible assets 4,413 4,315 9,460 9,219
Financial assets
Other non-current assets
Current assets 5,203 4,878 3,629 3,653
Inventories and prepaid expenses 104 72 136 197
Accounts receivable in one year 1,339 244 292 387
Other current assets 1,103
Cash and cash equivalents 2,657 4,563 3,201 3,070
Total assets 9,685 9,312 13,182 12,931
Equity 7,335 7,621 7,306 7,283
Grants and subsidies
Liabilities 537 1,177 5,414 5,370
Financial liabilities 0 546 4,618 4,318
Long-term liabilities 528 4,318 4,024
Short-term liabilities 537 649 1,096 1,345
Equity and liabilities 9,685 9,312 13,182 12,931
2020-06 2021-06 2022-06 2023-06
Non-current assets 5,881 6,169 9,186 9,368
Intangible assets 102 80 51 17
Tangible assets 5,779 6,089 9,135 9,352
Financial assets 0
Other non-current assets 0
Current assets 3,792 4,249 3,242 3,384
Inventories and prepaid expenses 132 91 293 152
Accounts receivable in one year 1,781 725 734 1,150
Other current assets 1,105
Cash and cash equivalents 775 3,433 2,216 2,082
Total assets 9,702 10,451 12,465 12,802
Equity 6,825 7,162 6,743 7,228
Grants and subsidies 0
Liabilities 1,063 2,786 5,465 5,301
Financial liabilities 496 1,843 4,468 4,182
Long-term liabilities 496 1,834 4,318 4,036
Short-term liabilities 567 952 1,147 1,265
Equity and liabilities 9,702 10,451 12,465 12,802

* 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) 7% 8% 2% 2%
Return on equity (ROE) 9% 10% 3% 3%
Return on capital employed (ROCE) 7% 8% 4% 0%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.06 0.35 0.33
Current Ratio 9.69 7.52 3.31 2.72
Quick ratio 9.50 7.41 3.19 2.57
Turnover ratios
Asset turnover 0.51 0.52 0.38 0.49
Fixed asset turnover 1.12 1.11 0.53 0.69
Equity turnover 0.68 0.64 0.69 0.88
Profitability ratios
EBITDA margin 36% 40% 29% 24%
Operating profit margin 11% 14% 10% 1%
Net profit margin 13% 16% 5% 3%
Other ratios
Dividends to the State 471.75 540.55 232.60 173.63
Dividends paid / net profit 0.72 0.71 1.01 0.82

* Left axis

** Right axis

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

2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 6% 9% -2% 5%
Return on equity (ROE) 8% 13% -3% 9%
Return on capital employed (ROCE) -2% 1% -4% 1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.05 0.18 0.36 0.33
Current Ratio 6.69 4.46 2.83 2.67
Quick ratio 6.46 4.37 2.57 2.55
Turnover ratios
Asset turnover 0.19 0.20 0.19 0.25
Fixed asset turnover 0.31 0.33 0.26 0.34
Equity turnover 0.27 0.29 0.35 0.44
Profitability ratios
EBITDA margin 27% 31% 12% 24%
Operating profit margin -6% 4% -20% 4%
Net profit margin -2% 4% -14% 4%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

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. 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. 3 mėn. tarpinės ataskaitos 2014 m. 6 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

Letter of Expectations

About the company

  • Official nameAB Smiltynės perkėla
  • Legal formPublic limited liability company (AB)
  • Company code140285526
  • SectorTransport and Communications
  • Line of businessTransportation of passengers by ferries
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State98.99%
http://www.keltas.lt/
Return to the State

174 EUR thousand

ROE

2.9%

Number of employees

96

Financial data provided as at end-December 2022

Management

  • Mindaugas ČiakasChief Executive Officer

Information as of: 2023/11/03

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Valdemaras Vaičekauskas  UAB Hortus Investment Banking; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Indrė BernotaitėMinistry of Transport and Communications
  • Rytis ValūnasAB Klaipėdos nafta, Independent member

Information as of: 2023/11/03