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Valdymo koordinavimo centras

State Owned Enterprises

In 1918 November 16, the Lithuanian Post Board was established, which took care of postal activities in the restored state of Lithuania. 1991 After the decision to reorganize the Lithuanian communications management structure, a state enterprise (VĮ) Lietuvos paštas was established. 2006 the company was reorganized into a stock company (AB) Lietuvos paštas. Lietuvos Paštas AB has the widest network of service locations in the country and provides not only postal, but also logistics and financial services.

Lietuvos Paštas AB is the designated provider of universal postal services in Lithuania. “Baltic Post” provides a courier service. UAB “Baltic Post” manages the LP EXPRESS brand, which develops the activities of courier and parcel self-service terminals. Today, the Lithuanian Post Group offers the widest range of shipping and delivery options in the country. Shipments can be sent or withdrawn via LP EPXRESS couriers, the largest in Lithuania – 111 self-service terminal terminals or nearly 700 postal service points.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 64,479 72,247 71,909 76,940
Cost of goods sold 0 0 0 0
Gross profit 64,479 72,247 71,909 76,940
Gross profit margin 100% 100% 100% 100%
Operating expenses 65,090 73,278 72,384 75,840
Operating profit -611 -1,030 -476 1,100
Operating profit margin -1% -1% -1% 1%
EBITDA 2,328 2,167 2,316 4,351
EBITDA margin 4% 3% 3% 6%
Net profit -524 -268 19 1,573
Net profit margin -1% -0% 0% 2%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 38,097 35,402 41,538 39,921
Cost of goods sold 0 0 0 0
Gross profit 38,097 35,402 41,538 39,921
Gross profit margin 100% 100% 100% 100%
Operating expenses 38,050 36,673 39,167 37,595
Operating profit 47 -1,271 2,371 2,325
Operating profit margin 0% -4% 6% 6%
EBITDA 1,349 319 4,032 4,098
EBITDA margin 4% 1% 10% 10%
Net profit 230 -859 2,433 2,168
Net profit margin 1% -2% 6% 5%

Balance sheet

2014 2015 2016 2017
Non-current assets 43,137 41,500 36,299 37,850
Intangible assets 3,448 4,250 4,980 5,023
Tangible assets 38,620 36,620 30,922 32,709
Financial assets 1,069 630 261 72
Other non-current assets 0 0 136 46
Biological assets 0 0 0 0
Current assets 45,667 29,067 34,916 34,209
Inventories and prepaid expenses 11,159 14,082 18,857 19,986
Accounts receivable in one year 3,899 7,269 6,355 5,397
Other non-current assets 6,627 4,532 4,861 2,966
Cash and cash equivalents 22,787 3,184 4,843 5,860
Total assets 88,804 70,567 71,215 72,059
Equity 28,074 27,662 21,698 23,271
Minority share of capital 0 0 0 0
Grants and subsidies 5 13 12 33
Liabilities 60,725 42,891 49,506 48,755
Financial liabilities 33,631 11,854 10,497 10,939
Long-term liabilities 6,664 12,701 5,405 6,245
Short-term liabilities 54,061 30,190 44,101 42,510
Equity and liabilities 88,804 70,567 71,215 72,059
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 36,299 36,196 37,850 37,083
Intangible assets 4,980 4,931 5,023 5,017
Tangible assets 30,922 30,760 32,709 31,947
Financial assets 261 279 72 73
Other non-current assets 136 226 46 46
Biological assets 0 0 0 0
Current assets 34,916 36,101 34,209 38,476
Inventories and prepaid expenses 18,857 19,014 19,986 22,177
Accounts receivable in one year 6,355 4,975 5,397 6,619
Other non-current assets 4,861 7,798 2,966 5,519
Cash and cash equivalents 4,843 4,314 5,860 4,162
Total assets 71,215 72,297 72,059 75,559
Equity 21,698 20,838 23,271 25,439
Minority share of capital 0 0 0 0
Grants and subsidies 12 11 33 32
Liabilities 49,506 51,448 48,755 50,088
Financial liabilities 10,497 14,916 10,939 12,676
Long-term liabilities 5,405 15,258 6,245 6,525
Short-term liabilities 44,101 36,190 42,510 43,563
Equity and liabilities 71,215 72,297 72,059 75,559

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) -1% -0% 0% 2%
Return on equity (ROE) -2% -1% 0% 7%
Return on capital employed (ROCE) 0% 1% 1% 6%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.38 0.17 0.15 0.15
Current Ratio 0.84 0.96 0.79 0.80
Quick ratio 0.64 0.50 0.36 0.33
Turnover ratios
Asset turnover 0.82 0.91 1.01 1.07
Fixed asset turnover 1.56 1.71 1.88 2.08
Equity turnover 2.18 2.59 2.91 3.42
Profitability ratios
EBITDA margin 4% 3% 3% 6%
Operating profit margin -1% -1% -1% 1%
Net profit margin -1% -0% 0% 2%
Other ratios
Dividends to the State 186.73 692.30 0.00 0.00
Dividends paid / net profit -0.36 -2.58 0.00 0.00
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 0% -1% 2% 6%
Return on equity (ROE) 0% -3% 7% 20%
Return on capital employed (ROCE) 1% -1% 6% 16%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.15 0.21 0.15 0.17
Current Ratio 0.79 1.00 0.80 0.88
Quick ratio 0.36 0.47 0.33 0.37
Turnover ratios
Asset turnover 1.01 1.01 1.07 1.10
Fixed asset turnover 1.88 1.91 2.08 2.22
Equity turnover 2.91 3.09 3.42 3.52
Profitability ratios
EBITDA margin 4% 1% 10% 10%
Operating profit margin 0% -4% 6% 6%
Net profit margin 1% -2% 6% 5%
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

9.0%

About the company

  • Official nameAB Lietuvos pašto įmonių grupė
  • Legal formPublic limited liability company (AB)
  • Company code121215587
  • SectorTransport and Communications
  • Line of businessPostal services
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.post.lt/
ROE

7.0%

Number of employees

5,415

Financial data provided as at end-December 2017

Management

  • Asta SungailienėDirector General

Information as of: 2019/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Nerijus DatkūnasAssociation of Financial Analysts; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Gražvydas JuknaUAB Arimex; Independent member
  • Danielius MerkinasNNL LT, Nordnet, NNL termo; Independent member
  • Žaneta KovaliovaUP CONSULTING GROUP LTD; Independent member
  • Darius KuliešiusMinistry of Transport and Communications

Information as of: 2019/05/01