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Valdymo koordinavimo centras

State Owned Enterprises

Klaipėda seaport infrastructure management is the main function of Klaipėdos valstybinio jūrų uosto direkcija,which was established in 1991. This company collects fees for using the port infrastructure, leases the land, carries out port development and reconstruction works. The main competitors of the port are the ports of Riga, Ventspils, Tallinn and Kaliningrad.

Financial results

P/L Statment

2015 2016 2017 2018
Revenue 54,546 56,514 59,795 63,736
Cost of goods sold
Gross profit (loss) 54,546 56,514 59,795 63,736
Gross profit margin 100% 100% 100% 100%
Operating expenses 30,712 30,868 27,934 29,173
Operating profit (loss) 23,834 25,646 31,861 34,563
Operating profit margin 44% 45% 53% 54%
EBITDA 37,199 42,581 46,601 48,477
EBITDA margin 68% 75% 78% 76%
Net profit (loss) 23,771 27,149 38,442 30,973
Net profit margin 44% 48% 64% 49%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 28,175 28,604 31,191 30,350
Cost of goods sold 0 0 0 0
Gross profit 28,175 28,604 31,191 30,350
Gross profit margin 100% 100% 100% 100%
Operating expenses 15,079 13,445 14,489 13,370
Operating profit 13,096 15,159 16,702 16,980
Operating profit margin 46% 53% 54% 56%
EBITDA 21,070 21,452 25,149 23,824
EBITDA margin 75% 75% 81% 78%
Net profit 13,614 15,110 23,333 14,398
Net profit margin 48% 53% 75% 47%

Balance sheet

2015 2016 2017 2018
Non-current assets 497,767 504,158 508,683 529,051
Intangible assets 1,552 1,367 1,755 1,716
Tangible assets 496,215 488,791 500,289 519,644
Financial assets 14,000 4,717
Other non-current assets 6,639 2,974
Biological assets
Current assets 29,516 44,838 73,845 59,711
Inventories and prepaid expenses 1,457 448 419 465
Accounts receivable in one year 4,917 3,988 4,892 4,797
Other current assets 9,000 3,005 14,045 40
Cash and cash equivalents 14,142 37,397 54,489 54,405
Total assets 527,315 548,996 582,528 588,762
Equity 457,785 479,908 518,614 527,449
Minority share of capital
Grants and subsidies 54,891 52,885 50,921 56,423
Liabilities 14,603 16,203 12,993 4,890
Financial liabilities 11,597 9,644 7,692
Long-term liabilities 9,645 8,839 7,107 206
Short-term liabilities 4,959 7,364 5,886 4,684
Equity and liabilities 527,315 548,996 582,528 588,762
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 510,362 498,665 508,683 516,853
Intangible assets 1,367 1,385 1,755 1,878
Tangible assets 494,995 497,281 500,289 510,131
Financial assets 14,000 0 0 0
Other non-current assets 0 0 6,639 4,844
Biological assets 0 0 0 0
Current assets 46,984 70,877 73,845 59,739
Inventories and prepaid expenses 783 829 419 469
Accounts receivable in one year 5,804 5,885 4,892 12,154
Other non-current assets 3,000 17,000 14,045 7
Cash and cash equivalents 37,397 47,163 54,489 47,109
Total assets 557,347 569,542 582,528 576,592
Equity 486,448 501,312 518,614 510,680
Minority share of capital 0 0 0 0
Grants and subsidies 54,695 53,710 50,921 57,116
Liabilities 16,203 14,521 12,993 8,796
Financial liabilities 9,645 8,668 7,692 0
Long-term liabilities 8,839 8,446 7,107 185
Short-term liabilities 7,364 6,075 5,886 8,611
Equity and liabilities 557,347 569,542 582,528 576,592

Financial ratios

2015 2016 2017 2018
Capital return ratios
Return on assets (ROA) -2% 5% 7% 5%
Return on equity (ROE) -9% 6% 8% 6%
Return on capital employed (ROCE) -0% 10% 11% 12%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.06 0.02 0.01
Current Ratio 0.43 6.09 12.55 12.75
Quick ratio 0.34 6.03 12.47 12.65
Turnover ratios
Asset turnover 0.06 0.11 0.11 0.11
Fixed asset turnover 0.06 0.11 0.12 0.12
Equity turnover 0.30 0.12 0.12 0.12
Profitability ratios
EBITDA margin 17% 75% 78% 76%
Operating profit margin -5% 45% 53% 54%
Net profit margin -28% 48% 64% 49%
Other ratios
Dividends to the State 0.00 22,331.60 28,000.00
Dividends paid / net profit 0.00 0.58 0.90
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 5% 5% 7% 7%
Return on equity (ROE) 6% 6% 8% 8%
Return on capital employed (ROCE) 6% 6% 6% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02 0.02 0.01 0.00
Current Ratio 6.38 11.67 12.55 6.94
Quick ratio 6.27 11.53 12.47 6.88
Turnover ratios
Asset turnover 0.10 0.10 0.10 0.11
Fixed asset turnover 0.11 0.11 0.12 0.12
Equity turnover 0.12 0.12 0.12 0.12
Profitability ratios
EBITDA margin 75% 75% 81% 78%
Operating profit margin 46% 53% 54% 56%
Net profit margin 48% 53% 75% 47%
Other ratios
Dividends to the State 0.00 22,331.60
Dividends paid / net profit 0.00 0.58

Expectations of the state

Target return on equity

6.0%

About the company

  • Official nameVĮ Klaipėdos valstybinio jūrų uosto direkcija
  • Legal formState enterprise (VĮ)
  • Company code240329870
  • SectorTransport and Communications
  • Line of businessAdministration of seaport
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.portofklaipeda.lt
Return to the State

28.5 EUR milion

ROE

6.0%

Number of employees

241

Financial data provided as at end-December 2018

Management

  • L. e. p. Vidmantas PaukštėDirector General

Information as of: 2019/11/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Nerijus UdrėnasEnergy and Infrastructure Baltic Fund; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Saulius Kerza Ministry of Transport and Communications
  • Vaidotas RūkasINVL Asset Management; Independent member
  • Eligijus KajietaReward Consulting; Independent member
  • Edvardas SimokaitisKlaipėda city municipality

Information as of: 2019/11/01