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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

        2020 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%
2018-06 2019-06 2020-06 2021-06
Revenue 2,129 2,119 1,835 2,042
Cost of goods sold 1,491 1,204 1,093 1,092
Gross profit (loss) 638 916 742 950
Gross profit margin % % 43% 47%
Operating expenses 741 965 853 877
Operating profit (loss) -103 -50 -111 72
Operating profit margin % % -2% 4%
EBITDA 628 632
EBITDA margin % % 30% 31%
Net profit (loss) -92 64 -33 86
Net profit margin % % 3% 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

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
2019-06 2020-06 2021-06
Non-current assets 5,434 5,881 6,169
Intangible assets 5 102 80
Tangible assets 4,827 5,779 6,089
Financial assets 601
Other non-current assets
Current assets 4,084 3,792 4,249
Inventories and prepaid expenses 67 132 91
Accounts receivable in one year 1,715 1,781 725
Other current assets 100 1,104
Cash and cash equivalents 2,201 775 3,433
Total assets 9,542 9,702 10,451
Equity 6,744 6,825 7,162
Grants and subsidies
Liabilities 1,460 1,538 3,100
Financial liabilities 496 1,834
Long-term liabilities 496 1,834
Short-term liabilities 193 9
Equity and liabilities 9,542 9,702 10,451

* 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
Capital return ratios
Return on assets (ROA) % % 9%
Return on equity (ROE) % % 13%
Return on capital employed (ROCE) -12% 2% 2%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.07 0.26
Current Ratio 21.14 466.18
Quick ratio 20.79 456.20
Turnover ratios
Asset turnover 0.44 0.19 0.20
Fixed asset turnover 0.78 0.32 0.34
Equity turnover 0.63 0.27 0.29
Profitability ratios
EBITDA margin % 30% 31%
Operating profit margin % -2% 4%
Net profit margin % 3% 4%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

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/
Return to the State

233 EUR thousand

ROE

3.1%

Number of employees

91

Financial data provided as at end-December 2021

Management

  • Mindaugas ČiakasDirector General

Information as of: 2022/09/01

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: 2022/09/01