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Valdymo koordinavimo centras

State Owned Enterprises

Oro navigacija is a state-owned company founded in 1995. It is a certified European air navigation service provider, that provides air traffic, communication, navigation and surveillance, air navigation information services to aircrafts flying in the Republic of Lithuania.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 28,053 27,990 28,246 28,757
Cost of goods sold 19,084 20,235 19,549 19,780
Gross profit 8,968 7,755 8,697 8,977
Gross profit margin 32% 28% 31% 31%
Operating expenses 5,947 5,953 5,848 7,908
Operating profit 3,021 1,802 2,849 1,069
Operating profit margin 11% 6% 10% 4%
EBITDA 6,757 5,403 5,593 4,467
EBITDA margin 24% 19% 20% 16%
Net profit -1,900 1,227 2,145 1,552
Net profit margin -7% 4% 8% 5%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 14,925 13,765 14,992 15,043
Cost of goods sold 9,970 10,110 9,670 9,068
Gross profit 4,955 3,655 5,322 5,975
Gross profit margin 33% 27% 35% 40%
Operating expenses 2,158 3,463 4,445 3,210
Operating profit 2,797 192 877 2,765
Operating profit margin 19% 1% 6% 18%
EBITDA 3,924 1,627 2,840 4,353
EBITDA margin 26% 12% 19% 29%
Net profit 2,379 -89 1,641 2,738
Net profit margin 16% -1% 11% 18%

Balance sheet

2014 2015 2016 2017
Non-current assets 32,086 33,498 32,813 37,956
Intangible assets 610 245 242 127
Tangible assets 25,869 24,053 29,571 37,829
Financial assets 5,606 9,200 3,000 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 13,882 13,354 18,532 17,214
Inventories and prepaid expenses 480 419 466 479
Accounts receivable in one year 5,312 5,164 5,066 5,096
Other non-current assets 3,900 2,400 9,200 5,000
Cash and cash equivalents 4,189 5,371 3,800 6,639
Total assets 45,968 46,852 51,345 55,170
Equity 42,817 44,044 46,120 46,017
Minority share of capital 0 0 0 0
Grants and subsidies 164 57 2,592 2,786
Liabilities 2,987 2,751 2,633 6,367
Financial liabilities 0 0 0 0
Long-term liabilities 830 320 509 2,016
Short-term liabilities 2,156 2,431 2,124 4,351
Equity and liabilities 45,968 46,852 51,345 55,170
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 32,813 35,567 37,956 42,699
Intangible assets 242 203 127 109
Tangible assets 29,571 32,364 37,829 42,590
Financial assets 3,000 3,000 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 18,532 16,664 17,214 16,897
Inventories and prepaid expenses 466 674 479 869
Accounts receivable in one year 5,066 6,233 5,096 6,493
Other non-current assets 9,200 5,000 5,000 2,000
Cash and cash equivalents 3,800 4,757 6,639 7,535
Total assets 51,345 52,231 55,170 59,596
Equity 46,120 46,031 46,017 48,226
Minority share of capital 0 0 0 0
Grants and subsidies 2,592 2,592 2,786 3,283
Liabilities 2,633 3,608 6,367 8,087
Financial liabilities 0 0 0 0
Long-term liabilities 509 509 2,016 2,525
Short-term liabilities 2,124 3,099 4,351 5,562
Equity and liabilities 51,345 52,231 55,170 59,596

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) -3% 3% 5% 3%
Return on equity (ROE) -4% 3% 5% 4%
Return on capital employed (ROCE) 7% 5% 6% 4%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 6.44 5.49 8.73 3.96
Quick ratio 6.22 5.32 8.51 3.85
Turnover ratios
Asset turnover 0.60 0.60 0.57 0.54
Fixed asset turnover 0.90 0.85 0.85 0.81
Equity turnover 0.64 0.64 0.62 0.62
Profitability ratios
EBITDA margin 24% 19% 20% 16%
Operating profit margin 11% 6% 10% 4%
Net profit margin -7% 4% 8% 5%
Other ratios
Dividends to the State 0.00 0.00 0.00 500.00
Dividends paid / net profit 0.00 0.00 0.00 0.32
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 5% 5% 3% 8%
Return on equity (ROE) 5% 6% 4% 10%
Return on capital employed (ROCE) 6% 6% 4% 8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.00 0.00 0.00 0.00
Current Ratio 8.73 5.38 3.96 3.04
Quick ratio 8.51 5.16 3.85 2.88
Turnover ratios
Asset turnover 0.57 0.58 0.54 0.54
Fixed asset turnover 0.85 0.83 0.81 0.77
Equity turnover 0.62 0.64 0.62 0.64
Profitability ratios
EBITDA margin 26% 12% 19% 29%
Operating profit margin 19% 1% 6% 18%
Net profit margin 16% -1% 11% 18%
Other ratios
Dividends to the State 0.00 500.00
Dividends paid / net profit 0.00 0.32

Expectations of the state

Target return on equity

3,7%

About the company

  • Official nameVĮ „Oro navigacija“
  • Legal formState enterprise (VĮ)
  • Company code210060460
  • SectorTransport and Communications
  • Line of businessAir space supervision and navigation
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State100%
http://www.ans.lt/
Return to the State

799 EUR thousand

ROE

6.8%

Number of employees

313

Financial data provided as at end-December 2017

Management

  • Mindaugas GustysDirector General

Information as of: 2019/05/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Dangirutis JanušasUAB Verslo konsultacijų spektras; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Gediminas AlmantasLithuanian Red Cross; Independent member
  • Mikas JovaišasLietuvos geležinkeliai; Independent member
  • Andrius ŠniuolisMinistry of Transport and Communications
  • Vytautas VaižmužisOro navigacija

Information as of: 2019/05/01