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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 2022-2024

  • Average transfer operating costs per trip, Eur:
    • 2022-2024, 200
  • Due to technical problems with a repair time> 24 hours:
    • 2022-2024 period average quantity <8 pcs. per year.
  • Loyal Customer (eNPS) Rate,%:
    • 2022 > 56
    • 2023 > 57
    • 2024 > 58
  • Percentage of employees involved:
    • 2022-2024 > 75

        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

2018 2019 2020 2021
Revenue 4,953 4,985 4,878 5,015
Cost of goods sold 2,900 2,562 2,342 2,545
Gross profit (loss) 2,053 2,424 2,536 2,471
Gross profit margin 41% 49% 52% 49%
Operating expenses 1,518 1,879 1,854 1,988
Operating profit (loss) 535 545 682 482
Operating profit margin 11% 11% 14% 10%
EBITDA 1,820 1,813 1,972 1,466
EBITDA margin 37% 36% 40% 29%
Net profit (loss) 527 655 763 230
Net profit margin 11% 13% 16% 5%
2019-06 2020-06 2021-06 2022-06
Revenue 2,119 1,835 2,042 2,377
Cost of goods sold 1,204 1,093 1,092 1,774
Gross profit (loss) 916 742 950 603
Gross profit margin % % % %
Operating expenses 965 853 877 1,083
Operating profit (loss) -50 -111 72 -480
Operating profit margin % % % %
EBITDA 628 487 632 279
EBITDA margin 30% 27% 31% 12%
Net profit (loss) 64 -33 86 -327
Net profit margin 3% -2% 4% -14%

* Left axis

** Right axis

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

Balance sheet

2018 2019 2020 2021
Non-current assets 5,924 4,440 4,413 9,519
Intangible assets 10 28 98 59
Tangible assets 5,314 4,413 4,315 9,460
Financial assets 600
Other non-current assets
Current assets 3,705 5,203 4,878 3,629
Inventories and prepaid expenses 64 104 72 136
Accounts receivable in one year 1,105 1,339 244 292
Other current assets 100 1,103
Cash and cash equivalents 2,436 2,657 4,563 3,201
Total assets 9,677 9,685 9,312 13,182
Equity 7,077 7,335 7,621 7,306
Grants and subsidies
Liabilities 1,451 1,012 1,494 5,877
Financial liabilities 248 546 4,618
Long-term liabilities 528 4,318
Short-term liabilities 873 537 649 1,096
Equity and liabilities 9,677 9,685 9,312 13,182
2020-06 2021-06 2022-06
Non-current assets 5,881 6,169 9,186
Intangible assets 102 80 51
Tangible assets 5,779 6,089 9,135
Financial assets
Other non-current assets
Current assets 3,792 4,249 3,242
Inventories and prepaid expenses 132 91 293
Accounts receivable in one year 1,781 725 734
Other current assets 1,104
Cash and cash equivalents 775 3,433 2,216
Total assets 9,702 10,451 12,465
Equity 6,825 7,162 6,743
Grants and subsidies
Liabilities 1,538 3,100 5,721
Financial liabilities 496 1,843 4,468
Long-term liabilities 496 1,834 4,318
Short-term liabilities 567 952 1,147
Equity and liabilities 9,702 10,451 12,465

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

Financial ratios

2018 2019 2020 2021
Capital return ratios
Return on assets (ROA) 6% 7% 8% 2%
Return on equity (ROE) 7% 9% 10% 3%
Return on capital employed (ROCE) 14% 17% 21% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.04 0.07 0.63
Current Ratio 4.24 9.69 7.52 3.31
Quick ratio 4.17 9.50 7.41 3.19
Turnover ratios
Asset turnover 0.54 0.51 0.51 0.45
Fixed asset turnover 0.82 0.96 1.10 0.72
Equity turnover 0.70 0.69 0.65 0.67
Profitability ratios
EBITDA margin 37% 36% 40% 29%
Operating profit margin 11% 11% 14% 10%
Net profit margin 11% 13% 16% 5%
Other ratios
Dividends to the State 393.13 471.75 540.55 232.60
Dividends paid / net profit 0.75 0.72 0.71 1.01

* Left axis

** Right axis

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

2019-06 2020-06 2021-06 2022-06
Capital return ratios
Return on assets (ROA) 7% % 8% -2%
Return on equity (ROE) 9% % 12% -3%
Return on capital employed (ROCE) 17% -1% 2% -5%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.26 0.63 0.66
Current Ratio 9.69 6.69 4.46 2.83
Quick ratio 9.50 6.46 4.37 2.57
Turnover ratios
Asset turnover 0.51 0.38 0.20 0.21
Fixed asset turnover 0.96 0.62 0.34 0.31
Equity turnover 0.69 0.54 0.29 0.34
Profitability ratios
EBITDA margin 36% 27% 31% 12%
Operating profit margin 11% % % %
Net profit margin 13% -2% 4% -14%
Other ratios
Dividends to the State 471.75
Dividends paid / net profit 0.72

Financial statments

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

Target return on equity undefined

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/
ROE

-2.6%

Number of employees

107

Financial data provided as at end-December 2021

Management

  • Mindaugas ČiakasDirector General

Information as of: 2023/01/01

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: 2023/01/01