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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

2017 2018 2019 2020
Revenue 4,836 4,953 4,985 4,878
Cost of goods sold 2,633 2,900 2,562 2,342
Gross profit (loss) 2,203 2,053 2,424 2,536
Gross profit margin 46% 41% 49% 52%
Operating expenses 1,407 1,518 1,879 1,854
Operating profit (loss) 796 535 545 682
Operating profit margin 16% 11% 11% 14%
EBITDA 2,097 1,820 1,813 1,972
EBITDA margin 43% 37% 36% 40%
Net profit (loss) 691 527 655 763
Net profit margin 14% 11% 13% 16%
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%

Balance sheet

2017 2018 2019 2020
Non-current assets 6,127 5,924 4,440 4,413
Intangible assets 35 10 28 98
Tangible assets 6,092 5,314 4,413 4,315
Financial assets 600
Other non-current assets
Current assets 2,509 3,705 5,203 4,878
Inventories and prepaid expenses 54 64 104 72
Accounts receivable in one year 65 1,105 1,339 244
Other current assets 100 100 1,103
Cash and cash equivalents 2,290 2,436 2,657 4,563
Total assets 8,691 9,677 9,685 9,312
Equity 7,072 7,077 7,335 7,621
Grants and subsidies
Liabilities 1,619 1,451 1,012 1,494
Financial liabilities 922 248 546
Long-term liabilities 248 528
Short-term liabilities 674 873 537 649
Equity and liabilities 8,691 9,677 9,685 9,312
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

Financial ratios

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

Expectations of the state

Target return on equity

6.2%

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

541 EUR thousand

ROE

10.2%

Number of employees

91

Financial data provided as at end-December 2020

Management

  • Mindaugas ČiakasDirector General

Information as of: 2021/10/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Valdemaras VaičekauskasUAB Hortus Investment Banking; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Jovita RazgutėMinistry of Transport and Communications
  • Kęstutis MotiejūnasUAB Investicijų ir verslo garantijos; Independent member

Information as of: 2021/10/01