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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

AB “Smiltynės perkėla” is a inland waterway transport company registered in the year 1991. The main activity of the company is transfer of passengers and vehicles to ferries through the Curonian Lagoon. The other activities include the rental of the ferry, premises and advertising spaces.

Financial results

P/L Statment

2016 2017 2018 2019
Revenue 4,549 4,836 4,953 4,985
Cost of goods sold 2,458 2,633 2,900 2,562
Gross profit (loss) 2,091 2,203 2,053 2,424
Gross profit margin 46% 46% 41% 49%
Operating expenses 1,596 1,407 1,518 1,879
Operating profit (loss) 494 796 535 545
Operating profit margin 11% 16% 11% 11%
EBITDA 1,859 2,097 1,820 1,813
EBITDA margin 41% 43% 37% 36%
Net profit (loss) 435 691 527 655
Net profit margin 10% 14% 11% 13%
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Revenue 2,054 2,129 2,119 1,835
Cost of goods sold 1,413 1,491 1,204 1,093
Gross profit (loss) 641 638 916 742
Gross profit margin 31% 30% 43% 40%
Operating expenses 739 741 965 853
Operating profit (loss) -98 -103 -50 -111
Operating profit margin -5% -5% -2% -6%
EBITDA 588 512 628 487
EBITDA margin 29% 24% 30% 27%
Net profit (loss) 0 64 -33
Net profit margin -3% -4% 3% -2%

* 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 7,333 6,127 5,924 4,440
Intangible assets 63 35 10 28
Tangible assets 7,270 6,092 5,314 4,413
Financial assets 600
Other non-current assets
Biological assets
Current assets 2,033 2,509 3,705 5,203
Inventories and prepaid expenses 68 54 64 104
Accounts receivable in one year 282 65 1,105 1,339
Other current assets 100 100 100 1,103
Cash and cash equivalents 1,583 2,290 2,436 2,657
Total assets 9,434 8,691 9,677 9,685
Equity 6,821 7,072 7,077 7,335
Minority share of capital
Grants and subsidies
Liabilities 2,613 1,619 1,451 1,012
Financial liabilities 1,935 922 248
Long-term liabilities 943 248
Short-term liabilities 992 674 873 537
Equity and liabilities 9,434 8,691 9,677 9,685
2017-06-30 2018-06-30 2019-06-30 2020-06-30
Non-current assets 6,716 5,559 5,434 5,881
Intangible assets 49 20 5 102
Tangible assets 6,667 5,538 4,827 5,779
Financial assets 601
Other non-current assets
Biological assets
Current assets 2,262 2,576 4,084 3,792
Inventories and prepaid expenses 180 125 67 132
Accounts receivable in one year 359 309 1,715 1,781
Other current assets 100 100 100 1,105
Cash and cash equivalents 1,623 2,041 2,201 775
Total assets 8,978 8,134 9,542 9,702
Equity 6,312 6,458 6,744 6,825
Minority share of capital
Grants and subsidies
Liabilities 2,666 1,677 1,460 1,538
Financial liabilities 1,443 469 193 496
Long-term liabilities 1,622 945 496
Short-term liabilities 1,044 731 882 567
Equity and liabilities 8,978 8,134 9,542 9,702

* 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% 8% 6% 7%
Return on equity (ROE) 6% 10% 7% 9%
Return on capital employed (ROCE) 13% 21% 14% 17%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.28 0.13 0.04
Current Ratio 2.05 3.72 4.24 9.69
Quick ratio 1.98 3.64 4.17 9.50
Turnover ratios
Asset turnover 0.46 0.53 0.54 0.51
Fixed asset turnover 0.57 0.72 0.82 0.96
Equity turnover 0.68 0.70 0.70 0.69
Profitability ratios
EBITDA margin 41% 43% 37% 36%
Operating profit margin 11% 16% 11% 11%
Net profit margin 10% 14% 11% 13%
Other ratios
Dividends to the State 435.17 517.62 393.13 491.41
Dividends paid / net profit 1.00 0.75 0.75 0.75

* 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) 8% 8% 8% 6%
Return on equity (ROE) 10% 10% 10% 8%
Return on capital employed (ROCE) 21% -2% 1% -1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.13 0.07 0.03 0.07
Current Ratio 3.72 3.52 4.63 6.69
Quick ratio 3.64 3.35 4.55 6.46
Turnover ratios
Asset turnover 0.53 0.25 0.24 0.19
Fixed asset turnover 0.72 0.35 0.39 0.32
Equity turnover 0.70 0.33 0.32 0.27
Profitability ratios
EBITDA margin 43% 24% 30% 27%
Operating profit margin 16% -5% -2% -6%
Net profit margin 14% -4% 3% -2%
Other ratios
Dividends to the State 517.62
Dividends paid / net profit 0.75

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. 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

Target return on equity

6.2%

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

491 EUR thousand

ROE

9.1%

Number of employees

89

Financial data provided as at end-December 2019