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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

2015 2016 2017 2018
Revenue 4,547 4,549 4,836 4,953
Cost of goods sold 2,467 2,458 2,633 2,900
Gross profit (loss) 2,091 2,203 2,053
Gross profit margin % 46% 46% 41%
Operating expenses 1,382 1,596 1,407 1,518
Operating profit (loss) -1,382 494 796 535
Operating profit margin -30% 11% 16% 11%
EBITDA 88 1,859 2,097 1,820
EBITDA margin 2% 41% 43% 37%
Net profit (loss) -1,917 435 691 527
Net profit margin -42% 10% 14% 11%
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

2015 2016 2017 2018
Non-current assets 8,517 7,333 6,127 5,924
Intangible assets 35 63 35 10
Tangible assets 8,481 7,270 6,092 5,314
Financial assets 600
Other non-current assets
Biological assets
Current assets 1,867 2,033 2,509 3,705
Inventories and prepaid expenses 60 68 54 64
Accounts receivable in one year 374 282 65 1,105
Other current assets 200 100 100 100
Cash and cash equivalents 1,233 1,583 2,290 2,436
Total assets 10,450 9,434 8,691 9,677
Equity 6,620 6,821 7,072 7,077
Minority share of capital
Grants and subsidies
Liabilities 3,829 2,613 1,619 1,451
Financial liabilities 3,193 1,935 922 873
Long-term liabilities 1,798 943 248
Short-term liabilities 1,395 992 674 873
Equity and liabilities 10,449 9,434 8,691 9,677
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

2016 2017 2018
Capital return ratios
Return on assets (ROA) 4% 8% 6%
Return on equity (ROE) 6% 10% 7%
Return on capital employed (ROCE) 13% 21% 14%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.28 0.13 0.12
Current Ratio 2.05 3.72 4.24
Quick ratio 1.98 3.64 4.17
Turnover ratios
Asset turnover 0.46 0.53 0.54
Fixed asset turnover 0.57 0.72 0.82
Equity turnover 0.68 0.70 0.70
Profitability ratios
EBITDA margin 41% 43% 37%
Operating profit margin 11% 16% 11%
Net profit margin 10% 14% 11%
Other ratios
Dividends to the State 435.17 517.62 393.13
Dividends paid / net profit 1.00 0.75 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

393 EUR thousand

ROE

7.5%

Number of employees

84

Financial data provided as at end-December 2018

Management

  • Mindaugas ČiakasDirector General

Information as of: 2019/11/01

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 Investicijų ir verslo garantijos; Independent member

Information as of: 2019/11/01