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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 Shipments can be sent or withdrawn via LP EPXRESS couriers, the largest in Lithuania – 111 self-service terminal terminals or nearly 700 postal service points.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

2015 2016 2017 2018
Revenue 71,931 71,909 76,940 88,307
Cost of goods sold
Gross profit (loss) 71,931 71,909 76,940 88,307
Gross profit margin 100% 100% 100% 100%
Operating expenses 78,910 72,384 75,840 84,132
Operating profit (loss) -6,979 -476 1,100 4,175
Operating profit margin -10% -1% 1% 5%
EBITDA -3,782 2,316 4,351 7,724
EBITDA margin -5% 3% 6% 9%
Net profit (loss) -5,519 19 1,573 3,680
Net profit margin -8% 0% 2% 4%
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

2015 2016 2017 2018
Non-current assets 35,635 36,299 37,850 34,428
Intangible assets 2,955 4,980 5,023 2,198
Tangible assets 31,966 30,922 32,709 31,966
Financial assets 630 261 72 72
Other non-current assets 84 136 46 193
Biological assets
Current assets 19,580 23,298 21,046 25,852
Inventories and prepaid expenses 4,594 7,239 6,823 8,770
Accounts receivable in one year 7,269 6,355 5,397 6,247
Other current assets 3,056 3,832 2,966 5,234
Cash and cash equivalents 3,184 4,843 5,860 5,602
Total assets 64,526 71,215 72,059 82,958
Equity 22,412 21,698 23,271 27,030
Minority share of capital
Grants and subsidies 13 12 33 43
Liabilities 28,096 35,207 28,228 40,861
Financial liabilities 11,854 10,497 10,939 8,563
Long-term liabilities 12,087 5,405 6,245 9,586
Short-term liabilities 16,009 29,802 21,983 31,276
Equity and liabilities 64,526 71,215 72,059 82,958
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

2016 2017 2018
Capital return ratios
Return on assets (ROA) 0% 2% 5%
Return on equity (ROE) 0% 7% 15%
Return on capital employed (ROCE) 1% 7% 19%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.48 0.47 0.32
Current Ratio 0.78 0.96 0.83
Quick ratio 0.54 0.65 0.55
Turnover ratios
Asset turnover 1.06 1.07 1.14
Fixed asset turnover 2.00 2.08 2.44
Equity turnover 3.26 3.42 3.51
Profitability ratios
EBITDA margin 3% 6% 9%
Operating profit margin -1% 1% 5%
Net profit margin 0% 2% 4%
Other ratios
Dividends to the State
Dividends paid / net profit
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

14.6%

Number of employees

5,250

Financial data provided as at end-December 2018

Management

  • Asta SungailienėDirector General

Information as of: 2019/11/01

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, UAB Nordnet, UAB NNL termo; Independent member
  • Jūratė StanišauskienėUAB "Aurika"; Independent member
  • Janina Laskauskienė

Information as of: 2019/11/01