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Valdymo koordinavimo centras

State Owned Enterprises

The construction of the Ignalina Nuclear Power Plant (INPP) began in 1974. In fulfilling Lithuanias obligations under the Treaty of Accession to the European Union,2009 December 31 INPP has completely cut off electricity production. From the electricity producer it became a company that ceases its activity but operates a nuclear facility. From 2010 January 1 decommissioning became the main INPP activity. The main goal of the company is to terminate the operation of the nuclear power plant with RBMK reactors in a safe, timely and efficient manner.

Financial results

P/L Statment

2015 2016 2017 2018
Revenue 192 194 201 256
Cost of goods sold
Gross profit (loss) 192 194 201 256
Gross profit margin 100% 100% 100% 100%
Operating expenses 1,483 3,999 961 3,049
Operating profit (loss) -1,291 -3,805 -760 -2,793
Operating profit margin -672% -1961% -377% -1090%
EBITDA -1,571 -2,957 -90 -1,626
EBITDA margin -818% -1524% -45% -635%
Net profit (loss) -2,385 -3,966 -1,636 -2,940
Net profit margin -1242% -2044% -812% -1147%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 105 96 105 97
Cost of goods sold 0 0 0 0
Gross profit 105 96 105 97
Gross profit margin 100% 100% 100% 100%
Operating expenses 1,936 2,387 3,015 4,236
Operating profit -1,831 -2,291 -2,910 -4,139
Operating profit margin -1737% -2376% -2782% -4267%
EBITDA -1,295 -1,937 -2,594 -3,285
EBITDA margin -1229% -2009% -2480% -3387%
Net profit -1,911 -2,464 -2,967 -3,942
Net profit margin -1813% -2555% -2836% -4064%

Balance sheet

2015 2016 2017 2018
Non-current assets 385,968 284,284 302,338 303,382
Intangible assets 133 130 90 414
Tangible assets 366,030 276,219 301,775 287,392
Financial assets 19,744 7,759 15,283
Other non-current assets 61 176 473 293
Biological assets
Current assets 185,257 360,507 398,077 322,025
Inventories and prepaid expenses 17,189 120,855 95,282 66,282
Accounts receivable in one year 113,907 172,296 230,519 202,921
Other current assets 5,095 11,830 7,769
Cash and cash equivalents 49,065 55,526 64,507 52,822
Total assets 571,282 644,868 700,482 625,484
Equity 109,484 105,517 24,322 21,421
Minority share of capital
Grants and subsidies 451,165 527,833 588,200 521,374
Liabilities 10,630 11,515 87,957 82,674
Financial liabilities
Long-term liabilities
Short-term liabilities 10,630 11,515 13,080 10,353
Equity and liabilities 571,282 644,868 700,482 625,484
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 284,284 307,101 302,338 313,429
Intangible assets 130 108 90 73
Tangible assets 276,218 298,924 301,775 297,586
Financial assets 7,759 7,752 0 15,279
Other non-current assets 176 317 473 491
Biological assets 0 0 0 0
Current assets 360,584 313,936 399,032 334,157
Inventories and prepaid expenses 120,855 112,095 96,171 80,547
Accounts receivable in one year 172,296 141,895 230,586 202,175
Other non-current assets 11,907 9,204 7,768 0
Cash and cash equivalents 55,526 50,742 64,507 51,435
Total assets 644,868 621,037 701,370 647,586
Equity 105,517 103,054 100,087 96,145
Minority share of capital 0 0 0 0
Grants and subsidies 527,833 497,440 588,201 539,449
Liabilities 11,518 20,543 13,082 11,992
Financial liabilities 0 0 0 0
Long-term liabilities 0 0 0 0
Short-term liabilities 11,518 20,543 13,082 11,992
Equity and liabilities 644,868 621,037 701,370 647,586

Financial ratios

2015 2016 2017 2018
Capital return ratios
Return on assets (ROA) 1% -1% -0% -0%
Return on equity (ROE) 2% -4% -3% -13%
Return on capital employed (ROCE) 1% -1% -0% -1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02
Current Ratio 2.86 31.31 30.43 31.11
Quick ratio 1.56 20.81 23.15 24.70
Turnover ratios
Asset turnover 0.26 0.00 0.00 0.00
Fixed asset turnover 0.31 0.00 0.00 0.00
Equity turnover 0.56 0.00 0.00 0.01
Profitability ratios
EBITDA margin 13% -1524% -45% -635%
Operating profit margin 0% -1961% -377% -1090%
Net profit margin 1% -2044% -812% -1147%
Other ratios
Dividends to the State 0.00
Dividends paid / net profit 0.00
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) -1% -1% -1% -1%
Return on equity (ROE) -4% -4% -5% -7%
Return on capital employed (ROCE) -1% -1% -1% -1%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 31.31 15.28 30.50 27.86
Quick ratio 20.81 9.83 23.15 21.15
Turnover ratios
Asset turnover 0.00 0.00 0.00 0.00
Fixed asset turnover 0.00 0.00 0.00 0.00
Equity turnover 0.00 0.00 0.00 0.00
Profitability ratios
EBITDA margin -1229% -2009% -2480% -3387%
Operating profit margin -1737% -2376% -2782% -4267%
Net profit margin -1813% -2555% -2836% -4064%
Other ratios
Dividends to the State 0.00 0.00
Dividends paid / net profit 0.00 0.00

Expectations of the state

Target return on equity undefined

About the company

  • Official nameVĮ Ignalinos atominė elektrinė
  • Legal formState enterprise (VĮ)
  • Company code255450080
  • SectorEnergy
  • Line of businessShutdown of Ignalina nuclear power plant
  • Institution representing the StateMinistry of Energy
  • Special obligationsVykdo nekomercinius specialiuosius įpareigojimus
  • Share belonging to the State100%
http://www.iae.lt/
ROE

-12.9%

Number of employees

1,901

Financial data provided as at end-December 2018

Management

  • Audrius KamienasDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Rimvydas ŠtilinisEPSO-G, Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Patricija CeikoMinistry of Energy
  • Andrius BendikasAB Lietuvos paštas; Independent member
  • Artūras VilimasRB Rail AS; Independent member

Information as of: 2019/11/01