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Valdymo koordinavimo centras

State Owned Enterprises

AB “Smiltynės perkėla” is a inland waterway transport company registered in the year 1991. The main activity of the company is transfer of passengers and vehicles to ferries through the Curonian Lagoon. The other activities include the rental of the ferry, premises and advertising spaces.

Financial results

P/L Statment

2014 2015 2016 2017
Revenue 4,513 4,547 4,549 4,836
Cost of goods sold 2,707 2,467 2,581 2,557
Gross profit 1,807 2,080 1,967 2,279
Gross profit margin 40% 46% 43% 47%
Operating expenses 1,301 1,382 1,473 1,483
Operating profit 506 698 494 796
Operating profit margin 11% 15% 11% 16%
EBITDA 2,728 2,168 1,859 2,097
EBITDA margin 60% 48% 41% 43%
Net profit 1,142 163 435 691
Net profit margin 25% 4% 10% 14%
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Revenue 2,605 2,054 2,782 2,129
Cost of goods sold 1,321 1,413 1,144 1,491
Gross profit 1,285 641 1,638 638
Gross profit margin 49% 31% 59% 30%
Operating expenses 743 739 744 741
Operating profit 542 -98 894 -103
Operating profit margin 21% -5% 32% -5%
EBITDA 1,244 588 1,510 512
EBITDA margin 48% 29% 54% 24%
Net profit 498 -69 760 -92
Net profit margin 19% -3% 27% -4%

Balance sheet

2014 2015 2016 2017
Non-current assets 9,698 8,517 7,333 6,127
Intangible assets 1 35 63 35
Tangible assets 9,697 8,481 7,270 6,092
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 2,032 1,933 2,101 2,564
Inventories and prepaid expenses 140 125 135 110
Accounts receivable in one year 23 374 282 65
Other non-current assets 1,368 200 100 100
Cash and cash equivalents 502 1,233 1,583 2,290
Total assets 11,730 10,449 9,434 8,691
Equity 6,942 6,620 6,821 7,072
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 4,788 3,829 2,613 1,619
Financial liabilities 4,227 3,193 1,935 922
Long-term liabilities 3,389 2,434 1,622 945
Short-term liabilities 1,399 1,395 992 674
Equity and liabilities 11,730 10,449 9,434 8,691
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Non-current assets 7,333 6,716 6,127 5,559
Intangible assets 63 49 35 20
Tangible assets 7,270 6,667 6,092 5,538
Financial assets 0 0 0 0
Other non-current assets 0 0 0 0
Biological assets 0 0 0 0
Current assets 2,101 2,262 2,564 2,576
Inventories and prepaid expenses 135 180 110 125
Accounts receivable in one year 282 359 65 309
Other non-current assets 100 100 100 100
Cash and cash equivalents 1,583 1,623 2,290 2,041
Total assets 9,434 8,978 8,691 8,134
Equity 6,821 6,312 7,072 6,458
Minority share of capital 0 0 0 0
Grants and subsidies 0 0 0 0
Liabilities 2,613 2,666 1,619 1,677
Financial liabilities 1,935 1,443 922 469
Long-term liabilities 1,622 1,622 945 945
Short-term liabilities 992 1,044 674 731
Equity and liabilities 9,434 8,978 8,691 8,134

Financial ratios

2014 2015 2016 2017
Capital return ratios
Return on assets (ROA) 10% 1% 4% 8%
Return on equity (ROE) 17% 2% 6% 10%
Return on capital employed (ROCE) 14% 9% 6% 10%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.36 0.31 0.21 0.11
Current Ratio 1.45 1.39 2.12 3.81
Quick ratio 1.35 1.30 1.98 3.64
Turnover ratios
Asset turnover 0.40 0.41 0.46 0.53
Fixed asset turnover 0.48 0.50 0.57 0.72
Equity turnover 0.68 0.67 0.68 0.70
Profitability ratios
EBITDA margin 60% 48% 41% 43%
Operating profit margin 11% 15% 11% 16%
Net profit margin 25% 4% 10% 14%
Other ratios
Dividends to the State 481.02 232.03 430.77 512.39
Dividends paid / net profit 0.43 1.44 1.00 0.75
2016 Q4 2017 Q2 2017 Q4 2018 Q2
Capital return ratios
Return on assets (ROA) 4% 5% 8% 8%
Return on equity (ROE) 6% 7% 10% 10%
Return on capital employed (ROCE) 6% 6% 10% 11%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.21 0.16 0.11 0.06
Current Ratio 2.12 2.17 3.81 3.52
Quick ratio 1.98 1.99 3.64 3.35
Turnover ratios
Asset turnover 0.46 0.49 0.53 0.57
Fixed asset turnover 0.57 0.64 0.72 0.80
Equity turnover 0.68 0.74 0.70 0.77
Profitability ratios
EBITDA margin 48% 29% 54% 24%
Operating profit margin 21% -5% 32% -5%
Net profit margin 19% -3% 27% -4%
Other ratios
Dividends to the State 430.77 512.39
Dividends paid / net profit 1.00 0.75

Expectations of the state

Target return on equity

6,2%

About the company

  • Official nameAB Smiltynės perkėla
  • Legal formPublic limited liability company (AB)
  • Company code140285526
  • SectorTransport and Communications
  • Line of businessTransportation of passengers by ferries
  • Institution representing the StateMinistry of Transport and Communications
  • Share belonging to the State98.99%
http://www.keltas.lt/
Return to the State

518 EUR thousand

ROE

9.9%

Number of employees

78

Financial data provided as at end-December 2017

Management

  • L. e. p. Mindaugas ČiakasDirector General

Information as of: 2019/07/01

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Valdemaras VaičekauskasUAB Hortus Investment Banking; Independent member

MEMBERS OF THE BOARD OF DIRECTORS

  • Jovita RazgutėMinistry of Transport and Communications
  • Kęstutis MotiejūnasUAB Invega; Independent member

Information as of: 2019/07/01