About the Lietuvos Energija group

About the Lietuvos Energija Group

 
Lietuvos Energija group is a state-controlled company group which is one of the largest in the Baltic States. The main activities of the Group include power and heat distribution and supply, natural gas trade and distribution as well as construction and maintenance of power plants and grid. The rights and obligations of the shareholder of Lietuvos Energija group are implemented by the Ministry of Finance of the Republic of Lithuania.
 
With its more than 5300 employees, Lietuvos Energija group controls and operates key Lithuanian power plants ensuring the security of energy supply, nation-wide distribution network, and services more than 1.6 million consumers across Lithuania, offers services of electricity supply to customers abroad as well as operates 8.5 thousand kilometres of distributor gas pipelines, supplies gas to more than 570 thousand customers, implements development projects of strategic significance and pursues the objectives of the National Energy Strategy. 
 
The Group is comprised of the following companies: Lietuvos Energijos Gamyba, AB, electricity and heat generation company, AB Energijos Skirstymo Operatorius (ESO), electricity and gas distribution operator, UAB Energetikos Paslaugų ir Rangos Organizacija (EnePRO), UAB NT Valdos, UAB Energijos tiekimas, UAB LITGAS, UAB VAE SPB, UAB Duomenų logistikos centras, UAB Technologijų ir inovacijų centras, UAB Verslo aptarnavimo centras, VŠĮ Energetikų mokymo centras, UAB Energijos sprendimų centras, UAB Elektroninių mokėjimų agentūra, UAB Vilniaus kogeneracinė jėgainė, UAB Kauno kogeneracinė jėgainė, UAB EURAKRAS, HOB OU, Tuulueenergia OU, SIA Geton Energy, OU Geton Energy.

Vision, Mission, Values

Vision

to become an energy company with the highest value in Baltic States.
 

Mission

Sustainable value building in the energy sector by promoting the development of the country’s economy and the society.
 
Fulfillment of the mission, aspiration towards the vision and activity of the Lietuvos Energija group is built on the following fundamental values:

Responsibility 

Cooperation

Results

Sustainable increase of the value declared by the Lietuvos Energija group is directly related to the economically justified selection of investments, increase of competitiveness and responsible practices. 

Strategy for 2014-2020

The Lietuvos Energija group has pledged to aspire to its vision in a consistent and responsible manner, to utilise financial potential and has decided on an ambitious and realistic target – to double the value of the group of companies by 2020. We will look for economically sound  investments with a return on assets equal to, or greater than that of comparable energy sector companies in Europe. 

Focused implementation of the vision and mission of the Lietuvos Energija group is grounded by core strategic directions which allow for a balanced aspiration of sustainable increase of value because they cover all key areas of management: customer satisfaction, diversification of operations (portfolio), performance effectiveness, and organisational culture. 

Lietuvos Energija group strategic directions 2014-2020:

Ensuring the provision of quality services to customers (“Services“) – reliable provision of quality service by the agreed time, resulting in guaranteed customer satisfaction. While implementing this direction actions will aim at increasing customer service value and choice options. 

Diversification of activities (“Diversification“) – implementation of projects which increase the competitiveness of the Lietuvos Energija group as well as of the national economy and energy independence of the country. These objectives will be pursued by the use of available resources and infrastructure, investing in the development of new infrastructure and effective management through acquisitions. 

Increasing operational efficiency (“Efficiency”) – increasing the efficiency of the Lietuvos Energija group is understood as a continuous process in the chain of service value. Efficiency is sought in core activities as well as in the performance of support functions, management of assets or other resources in all group companies. 

Formation of new organisational culture (“Human Resources”) – relates to the development of the Lietuvos Energija group as a united organisation with the aim of creating a modern, effective and dynamic organisation. The aspiration is to have an organisation where activities are based on common values and adequate competencies and where the succession of key personnel is built in a consistent and single-minded way, while at the same time the internal environment stipulates employee engagement.
 
 
 
 

Parent Company

Parent company Lietuvos Energija, UAB is responsible for transparent management and coordination of activities of the Lietuvos Energija Group and improvement of efficiency.

The Company analyses the activities of the Group, represents the Group, exercises rights and duties of the shareholder, sets operating guidelines and rules, and coordinates the activities in the fields of power generation, commerce, finance, law, strategy and development, human resources, risk management, audit, technologies, communication, etc.
 

Chief Executive Officer

Dr. Dalius Misiūnas.,
Chairman of the Board and Chief Executive Officer
CV
  • Board
  • Supervisory Board of Lietuvos Energija
  • Supervisory Council Committees
  • Dr. Dalius Misiūnas,
    Chairman of the Board, Chief Executive Officer
    CV
  • Ilona Daugėlaitė,
    Member of the Board, Director for Organisational Development
    CV
  • Darius Kašauskas,
    Member of the Board, Finance and Treasury Director
    CV
  • Mindaugas Keizeris,
    Member of the Board, Strategy and Development Director
    CV
  • Dominykas Tučkus,
    Member of the Board, Generation and Services Director
    CV
  • Šarūnas Kliokys,
    Chairman of the Supervisory Board (independent), Director and Chairman of the Board of UAB Avestis, Chairman of the Board of UAB Šiaulių Plento Grupė, Chairman of the Board of UAB Ekonovus
  • Antanas Danys,
    Member of the Supervisory Board (independent), Board member of Lietuvos Junior Achievement, public organisation, former chairman of the Board and head of administration of Swedbank, AB
  • Dr. Virginijus Lepeška,
    Member of the Supervisory Board (independent), Founder and chairman of the Board of UAB Organizacijų Vystymo Centras
  • Agnė Bagočiutė,
    Member of the Supervisory Board, vice-minister of the Ministry of the Finance
  • Rasa Noreikienė,
    Member of the Supervisory Board, vice-minister of the Ministry of the Economy
  • Tomas Garasimavičius,
    Member of the Supervisory Board, advisor to the Prime Minister
  • Rokas Baliukovas,
    Member of the Supervisory Board, vice-minister of the Ministry of the Energy
  • Members of the Audit Committee
  • Rasa Noreikienė,
    Chairwoman of the committee Vice-minister of Economy
  • Aušra Vičkačkienė,
    Committee member Director of Asset Management department at the Ministry of Finance
  • Gintaras Adžgauskas,
    Committee member Director of World Energy Council Committee in Lithuania
  • Danielius Merkinas,
    Independent committee member Finance Director at UAB Nordnet
  • Irena Petruškevičienė,
    Member of the Audit Committees of the European Commission and World Food Programme, visiting lecturer of ISM university
  • Members of the Risk Management Supervisory Committee
  • Antanas Danys,
    Chairman of the committee "Lietuva Junior Achievement" board member
  • Tomas Garasimavičius,
    Committee member Advisor on energy issues to the Prime Minister
  • Raimundas Petrauskas,
    Independent committee member General Manager of UAB SchmitzCargobullBaltic
  • Donatas Kaubrys,
    Independent committee member UAB Director of Dovirma UAB
  • Members of the Appointment and Remuneration Committee
  • Agnė Bagočiūtė,
    Chairman of the committee, Vice-minister of Finance
  • Tomas Garasimavičius,
    Committee member Advisor on energy issues to the Prime Minister
  • Virginijus Lepeška,
    Independent committee member UAB Organizacijų Vystymo Centras, chairman of the board

Companies of the Group

Company Main activity Authorized capital (thousand Eur) Group’s effective equity share
Lietuvos Energijos Gamyba, AB
Electricity and heat generation
184 174 96.13 %
Main activity
Electricity and heat generation
Shareholders:
Lietuvos Energija, UAB
96.13 %
Small shareholders
3.87 %
 
Lietuvos Energijos Gamyba, AB forms the basis of Lithuania’s electricity generation capacities, which ensure energy security of the country. The company owns three generation units:
  • Elektrėnai complex with a reserve power plant and a combined cycle unit
  • Kruonis Pumped Storage Hydroelectric Power Plant
  • Kaunas Hydroelectric Power Plant
In 2015, the company produced 2.01 TWh of electricity.
Chief Executive Officer
Eglė Čiužaitė,
Chief Executive Officer of Lietuvos Energijos Gamyba, AB
  • Board members
  • Supervisory Board members
  • Eglė Čiužaitė,
    Chairman of the Board, Chief Executive Officer of Lietuvos Energijos Gamyba, AB
  • Adomas Birulis,
    Lietuvos Energijos Gamyba, AB Director of Business Development Department
  • Darius Kucinas,
    Lietuvos Energijos Gamyba, AB Director of Production Deparment
  • Mindaugas Kvekšas,
    Lietuvos Energijos Gamyba, AB Director of Finance and Legal Department
  • Mindaugas Keizeris,
    Strategy and Development Director of Lietuvos Energija, UAB
  • Dominykas Tučkus,
    Generation and Services Director of Lietuvos Energija, UAB
  • Pranas Vilkas,
    Independent member of the Supervisory Board
Number of employees: 429
(as at 31 December 2015)
 
Key financial indicators in 2015:
Income: EUR 214.4 million
Operating expenses: EUR 24.1 million
EBITDA: EUR 54.7 million
Net profit: EUR -0.2 million

 
For investors Website of the company
AB Energijos Skirstymo Operatorius
Energy distribution operator
 
259 443 94,98 %
Main activity
Energy distribution operator
 
Energijos Skirstymo Operatorius AB was established 1 January 2016 merging AB LESTO and AB Lietuvos Dujos. ESO is controlled by state-owned group of energy companies “Lietuvos Energija”, one of the largest energy companies in the Baltic States.

Main activities of ESO: electricity supply and distribution, natural gas distribution, guarantee supply of electricity and natural gas, introduction of electricity and gas, maintenance and development of electricity and gas distribution networks, security and reliability of energy distribution assurance.

ESO serves 1.6 million customers throughout Lithuania. Company serviced area in square kilometers reaches 65.3 thousand. km².
Chief Executive Officer
Liudas Liutkevičius,
Chief Executive Officer of AB Energijos Skirstymo Operatorius
  • Board members
  • Supervisory Board members
  • Liudas Liutkevičius,
    Chairman of the Board, Chief Executive Officer of Energijos Skirstymo Operatorius (ESO)
  • Augustas Dragūnas,
    Director of Finance and Administration Division
  • Dalia Andrulionienė,
    Director of Service division
  • Dalius Svetulevičius,
    Director of Network Development Division
  • Rytis Borkys,
    Director of Network Development Division
  • Dalius Misiūnas,
    Chairman of the Supervisory Board, CEO, Chairman of the Board of Lietuvos Energija, UAB
  • Ilona Daugėlaitė,
    Director for Organisational Development of Lietuvos Energija, UAB
  • Petras Povilas Čėsna,
    Independent Member of the Supervisory Board, Lithuanian Centre of Exhibition and Congress LITEXPO, Chairman of the Board
Key financial indicators in 2015:
 
AB LESTO
Income: EUR 581.8 million
Operating expenses: EUR 83.1 million
EBITDA: EUR 124.8 million
Net profit:  EUR 72.5 million
Total assets: EUR 881.5 million
 
AB Lietuvos Dujos
Income: EUR 56.4 million
Operating expenses: EUR 28.6 million
EBITDA: EUR 24.1 million
Net profit:  EUR 12.9 million
Total assets: EUR 197.3 million
For investors Website of the company
UAB LITGAS
Supply of liquid natural gas (LNG) via terminal and trade in natural gas 
13 033 66.7 %
Main activity
Supply of liquid natural gas (LNG) via terminal and trade in natural gas 
Shareholders:
Lietuvos Energija, UAB
66.67%
AB Klaipėdos Nafta
33.33% 
 
UAB LITGAS was approved the designated supplier and starting from 2015 it will have to supply the minimum necessary volume of natural gas ( 540 million cubic meters) to the LNG terminal necessary for maintaining uninterrupted operations of the LNG terminal.   
 
This activity would help Lithuania to achieve its strategic goals: it would create access to the global natural gas market and a possibility for suppliers to take advantage of benefits provided thereby; create preconditions for ensuring security of the supply and increase competition in the Lithuanian natural gas supply market.
 
Also, the plan is to develop commercial LNG supply activity including small-scale LNG trade and bunkering - supply of LNG as fuel for ships.
Chief Executive Officer
Vytautas Čekanavičius,
Chief Executive Officer of UAB LITGAS
  • Board members
  • Dominykas Tučkus,
    Generation and Services Director of Lietuvos Energija, UAB
  • Vitalij Rakovski,
    Manager of Investment Management Department of Lietuvos energija, UAB
  • Kęstutis Betingis,
    Independent Member of the Board
Number of employees - 14
(as at 31 December 2015)
 
Key financial indicators in 2015:
Income: EUR 209.3 million
Operating expenses: EUR 1.1 million
EBITDA: EUR 8.1 million
Total assets: EUR 46.4 million
 
Website of the company
UAB Lietuvos Dujų Tiekimas
Natural gas supply to the residents, business and other customers.
870 100 %
Main activity
Natural gas supply to the residents, business and other customers.
About 560 thousand customers using the services of Lietuvos Duju Tiekimas, the majority of which are residents.
Chief Executive Officer
Mantas Mikalajūnas,
Chief Executive Officer of UAB Lietuvos Dujų Tiekimas
  • Board Members
  • Dominykas Tučkus,
    Generation and Services Director of Lietuvos Energija, UAB
  • Ieva Lauraitytė,
    Member of the Board
Number of employees - 97
(as at 31 December 2015)
 
Key financial indicators in 2015:
Income: EUR 227.0 million
Operating expenses: EUR 4.7 million
EBITDA: EUR -37.5 million
Net profit:  EUR -35.0 million
Total assets: EUR 96.8 million
Website of the company
UAB Energetikos Paslaugų ir Rangos Organizacija (EnePRO)
Construction, repair and maintenence of grid and related equipment, connection of customers to the grid. 
 
7 003 100 %
Main activity
Construction, repair and maintenence of grid and related equipment, connection of customers to the grid. 
 
EnePRO was established 1 January 2016 merging UAB Kauno Energetikos Remontas and UAB Elektros Tinklo Paslaugos.
 
Main functions:
  • Prompt removal of faults in electricity network throughout Lithuania;
  • Design of electricity networks up to 10 kV;
  • Construction, reconstruction, repair and maintenance of electricity networks, switchyards and substations up to 400 kV;
  • Tests and diagnostics of electrical equipment up to 400 kV;
  • Metrological testing of measuring transformers.
  • Electrical equipment: turbo-generators up to 750 MW, hydro-generators up to 200 MW, all types of power transformers up to 330 kV, electricity transmission lines, electric engines. Moreover, the company builds and reconstructs switchyards up to 330 kV.
  • Turbines: steam turbines up to 800 MW, hydro-turbines up to 200 MW, auxiliary equipment of all types of turbines and industrial pumps, high pressure preheaters, pumps, ventilators, valve regulators, coolers and heaters.
  • Boilers: steam boilers up to 950 t/h, water boilers up to 180 Gcal/h.
  • Pipelines: I-IV category steam and hot water pipelines, also, A and B group technological pipelines, steel internal and external pipelines, pipe fittings. 
Chief Executive Officer
Algaudas Martinka,
CEO of Energetikos Paslaugų ir Rangos Organizacija (EnePRO)
  • Board Members
  • Mindaugas Keizeris,
    Strategy and Development Director of Lietuvos Energija, UAB
  • Vitalij Rakovski,
    Manager of Investment Management Department of Lietuvos energija, UAB
  • Nerijus Stasiulionis,
    Independent Member of the Board
Consolidated financial indicators in 2015:
 
UAB Kauno Energetikos Remontas
Income: EUR 33.1 million
Operating expenses: EUR 10.1 million
EBITDA: EUR -0.2 million
Net profit: EUR -0.6 million
Total assets: EUR 17.2 million
 
UAB Elektros Tinklo Paslaugos
Income: EUR 26.9 million
Operating expenses: EUR 12.0 million
EBITDA: EUR 0 million
Net profit: EUR -0.6 million
Total assets: EUR 11.5 million
Website of the company
UAB Technologijų ir Inovacijų Centras
Provision of IT, telecommunication and other services
6 431 97.8%
Main activity
Provision of IT, telecommunication and other services
Shareholders:
Lietuvos Energija, UAB
50.04 %
AB Energijos Skirstymo Operatorius 29.01 %
Lietuvos Energijos Gamyba, AB
20.01 %
UAB Verslo Aptarnavimo Centras
0.02 %
UAB Lietuvos Dujų Tiekimas 0.91 %
Litgrid AB 0.0045 %
 
Technologijų ir Inovacijų Centras UAB is one of the largest ITT companies in Lithuania providing IT and telecommunication services to the electricity sector companies. The company's activities are organised following the best global management practices, information related to the company's activities is managed according to the requirements of ISO 9001 and ISO 27001 standards.
 
The company has about 170 employees working in seven major cities of Lithuania. Currently, UAB Technologijų ir Inovacijų Centras:
  • Supervises more than 100 application and data transmission systems;
  • Provides maintenance and serves more than 250 servers and over 3500 computer workstations throughout Lithuania;
  • Designs, installs and serves integrated IT systems;
  • Initiates and implements strategic projects for competencies, innovation and knowledge management.
Chief Executive Officer
Marius Juknevičius,
Chief Executive Officer of UAB Technologijų ir Inovacijų Centras
  • Board members
  • Ilona Daugėlaitė,
    Chairwoman of the Board, Organisational Development Director of Lietuvos Energija, UAB
  • Adomas Birulis,
    Director of Business Development Department of Lietuvos Energijos Gamyba, AB
  • Eglė Čiužaitė,
    Chief Executive Officer of Lietuvos Energijos Gamyba, AB
  • Eglė Šimė,
    Chief Executive Officer of UAB Verslo Aptarnavimo Centras
  • Augustas Dragūnas,
    UAB Lietuvos Dujų Tiekimas
Number of employees: 187
(as at 31 December 2015)
 
 
Key financial indicators in 2015: 
Income: EUR 14.4 million
Operating expenses: EUR 9.9 million
EBITDA: EUR 2.9 million
Net profit:  EUR 0.5 million
Total assets: EUR 9.7 million
Website of the company
Energijos Tiekimas UAB
Supply of electricitys and natural gas
10 000 100%
Main activity
Supply of electricitys and natural gas
Shareholders:
Lietuvos Energija, UAB
100 %
 
The core activity of Energijos Tiekimas UAB is electricity sales in the free market.
 
The company has the largest customer portfolio (6 thousand) in Lithuania and is the only supplier of certified electricity produced in Lithuania from renewable resources - Green Lithuanian Energy.
 
Since summer 2013, Energijos Tiekimas has also been carrying out its activities in Latvia and Estonia, where it has established its subsidiaries Geton Energy SIA and Geton Energy OÜ. 
Chief Executive Officer
Vidmantas Salietis,
Chief Executive Officer of Energijos Tiekimas UAB
  • Board members
  • Ieva Lauraitytė,
    Director of Law of Lietuvos Energija, UAB
  • Dominykas Tučkus,
    Generation and Services Director of Lietuvos Energija, UAB
  • Edvardas Jatautas,
    Independent Member of the Board, CEO, Co-sender (Centralizes Communication Management)
Number of employees: 15
(as at 31 December 2015)
 
Key financial indicators in 2015:
Income: EUR 72.3 million
Operating expenses: EUR 1.0 million
EBITDA: EUR 2.4 million
Net profit: EUR 2.1 million
Total assets: EUR 21.7 million
Website of the company
UAB Duomenų Logistikos Centras
Data centre management, provision of data transmission services to businesses and communication operators.
4 028 79.63 %
Main activity
Data centre management, provision of data transmission services to businesses and communication operators.
Shareholders:
Lietuvos Energija, UAB
79.63 %
LITGRID AB
20.36 %
 
The Company is one of the largest data transmission network and data center operators in the Baltic States.
 
UAB Duomenų Logistikos Centras (Data Logistics Center) provides data transmission services to companies and communications operators and manages a data center, where large enterprises, banks, telecommunications operators and cloud computing service providers are storing their equipment.
 
The Company manages one of the most efficient data centers in Lithuania Data Inn, the index of energy efficiency whereof (PUE) stands at a mere 1.3. This is the first and currently the only data center in Lithuania, the project and the operating infrastructure whereof has been awarded Uptime Institute’s Tier III reliability certification.
Currently, the preparatory works for the construction of the second part of Data Inn data center are under way.
 
In addition to Data Inn, the Company also owns and operates other five data centers in Vilnius and Kaunas. The total maximum capacity of the data centers owned by Duomenu Logistikos Centras is about 330 server racks, which can accommodate a total of about 10 000 servers.  
Together with partners, who are members of the Baltic Optical Network Alliance, the Company operates 3 000 km-long international network Baltic Highway, connecting Tallinn and Frankfurt, the capacity whereof is 100G per channel and total throughput - 9.6 Tbit/s, and the largest and longest (more than 8 000 km-long) optical data transmission network in the Baltic States.
 
The Company operates the only network in the country, the fiber cables whereof are laid in lightning conductor cables of high voltage lines. The total length of the network connecting the major cities and district centers of Lithuania is 2 000 kilometers.
Until 4 November 2013 UAB Duomenų Logistikos Centras was known under the name of UAB Technologijų ir Inovacijų Centras. On 31 December 2013, UAB Duomenų Logistikos Centras transferred to the newly established company UAB Technologijų ir Inovacijų Centras its complex of assets related to non-commercial activities. That way the direct activities of UAB Duomenų Logistikos Centras were cleared up, which involved data transmission and provision of data center rental services, while non-commercial activities of the Company, such as the maintenance and servicing of IT infrastructure of the electric power group companies, was transferred to UAB Technologijų ir Inovacijų Centras.
Chief Executive Officer
Nerijus Dumbrava,
Chief Executive Officer of UAB Duomenų Logistikos Centras
  • Board Members
  • Ilona Daugėlaitė,
    Director for Organisational Development of Lietuvos Energija, UAB
  • Irma Kaukienė,
    Head of the IT Department of Lietuvos Energija, UAB
  • Aurimas Bakas,
    Independent Member of the Board
Number of employees: 16
(as at 31 December 2015)
 
Key financial indicators in 2015:
Income: EUR 4.9 million
Operating expenses: EUR 3.9 million
EBITDA: EUR 1.0 million
Net profit: EUR -0.2 million
Total assets: EUR 8.4 million
Website of the company
NT Valdos, UAB
Real estate management and transport services
85 556 100 %
Main activity
Real estate management and transport services
Shareholders:
Lietuvos Energija, UAB 100 %
 
NT Valdos is an active real estate market participant providing customer-oriented real estate lease, administration and maintenance services to the public and private sectors.

NT Valdos activities are not limited to the buildings owned; the company is also a proactive developer of new objects and territories, which uses innovative and advanced technologies, ensuring state-of-the-art and energy efficient buildings.
Chief Executive Officer
Giedrius Kražauskas,
CEO of NT Valdos, UAB
  • Board members
  • Darius Kašauskas,
    Chairman of the Board, Finance and Treasury Director of Lietuvos Energija, UAB
  • Ieva Lauraitytė,
    Member of the Board
  • Lina Paukštė,
    Independent Member of the Board
Number of employees: 240
(as at 31 December 2015)

Key financial indicators in 2015:
Income: EUR 17.4 million
Operating expenses: EUR 11.7 million
EBITDA: EUR 5.7 million
Net profit: EUR 0.3 million
Total assets: EUR 110.6 million
Website of the company
VAE
Advisory business and other management activities
293 100
Main activity
Advisory business and other management activities
Shareholders
 
Lietuvos Energija,
UAB
100%
 
 
UAB VAE SPB analyses opportunities for the development of a new nuclear power plant project in Lithuania - the company took over the previously carried out preparatory works, projects and programmes. In presence of a favourable economic and political situation, the company would ensure the continuation of works and directly participate in the implementation of a new nuclear power plant project. 
VAE SPB is also engaged in the development and coordination of new technologies and the activities of the application thereof in areas of operation of the state-owned energy group Lietuvos Energija, participates in projects being carried out, develops research activities, and provides consulting services to other group companies. 
Chief Executive Officer
Laurynas Jocys,
Chief Executive Officer
Number of employees - 11
(as at 31 December 2015)
 
Key financial indicators in 2015:
Income: EUR 0.0 million
Operating expenses: EUR 1.0 million
EBITDA: EUR -1.0 million
Total assets: EUR 0.2 million
Website of the company
UAB "Verslo aptarnavimo centras"
Public procurement, accounting and labour relations administration services
580 97%
Main activity
Public procurement, accounting and labour relations administration services
Shareholders:
Lietuvos Energija, UAB
50.04 %
AB Energijos Skirstymo Operatorius (ESO)
22.25 % 
Lietuvos Energijos Gamyba, AB
15.00 %
 UAB Lietuvos Dujų Tiekimas
3.75 %
UAB Technologijų ir Inovacijų Centras
3.75 %
UAB LITGAS
3.75 %
UAB VAE SPB
0.50 %
 
 
Verslo Aptarnavimo Centras UAB (VAC) belongs to the state-controlled national energy group Lietuvos Energija (hereinafter referred to as the Group). The company was established in 2014 to improve the processes supporting the core activities of the Group and to reduce its costs.
 
The activities of VAC are oriented towards support and servicing of the Group’s companies by providing public procurement, accounting and labour relations administration services. By concentrating the service functions in one company, VAC team consists of experts in all the above-mentioned fields delegated from the Group’s companies.
 
Through centralisation of the processes of public procurement, accounting and labour relations administration, VAC is trying to standardise them, to improve transparency and efficiency and to ensure their prompter completion. This supporting services concentration model conforms to the best practices applied in the world.
 
 
Chief Executive Officer
Eglė Šimė,
Chief Executive Officer of UAB Verslo Aptarnavimo Centras
  • Board members
  • Ilona Daugėlaitė,
    Director for Organisational Development of Lietuvos Energija, UAB
  • Dalia Andrulionienė,
    Director of Service division of Energijos Skirstymo Operatorius
  • Mindaugas Kvekšas,
    Director of Finance and Legal Department of Lietuvos Energijos Gamyba, AB
  • Marius Juknevičius,
    General Manager of UAB Technologijų ir Inovacijų Centras
Number of employees - 171
(as at 31 December 2015)
 
Key financial indicators in 2015:
Income: EUR 3.8 million
Operating expenses: EUR 3.8 million
EBITDA: EUR 0.1 million
Net profit:  EUR 0.1 million
Total assets: EUR 1.1 million
Website of the company
Energetikų Mokymo Centras
Adult vocational training, skills development, certification of energy workers, consultancy and research activities 
85 100%
Main activity
Adult vocational training, skills development, certification of energy workers, consultancy and research activities 
Shareholders:
Lietuvos energija, UAB
100 %

Energetikų mokymo centras is the oldest and one of the largest institutions training energy employees in Lithuania.  
 
The main goals of EMC activities include: the satisfaction of the public interest by providing vocational education and training services and performing professional certification in line with the requirements set in the energy sector and industry; also, the development of competencies required for professional activities of persons and the promotion of introduction of technologies.
 
EMC operates under the licenses issued by the Ministry of Education and Science.  
 
Each year 8 000 - 10 000 people study in EMC, while more than 5 000 companies are its customers.
 
 
Chief Executive Officer
Vaidas Mugauskas,
Director of VŠĮ Energetikų Mokymo Centras
Number of employees: 145
Including hourly employees
(as at 31 December 2015)
 
Key financial indicators in 2015:
Income: EUR 1.2 million
Operating expenses: EUR 1.2 million
EBITDA: EUR 0.1 million
Net profit: EUR 0.0 million
Total assets: EUR 0.2 million
 
 
Website of the company

Corporate Governance

The Lietuvos Energija group, whose shareholder of which is the State of Lithuania, aims at ensuring the efficient and transparent operations. To achieve this, restructuring of governance was started, during which corporate group governance was rearranged and enhanced.
 
Most advanced international and national practice was applied, recommendations published by Organization for Economic Co-operation and Development were used, Corporate Governance Code of companies listed on NASDAQ OMX Vilnius Stock Exchange and governance guidelines recommended by the Baltic Institute of Corporate Governance for state-owned enterprises were taken into account in the preparation of the new Group governance structure and model. The corporate governance model of energy group was implemented following the governance guidelines approved by the Ministry of Finance of the Republic of Lithuania on 7 June 2013.

Principles of corporate governance of the Group

  • Prerequisites for efficient corporate governance. The environment in which the Group of companies or individual companies operate promotes transparent activities in the market, compliance with legal acts, and ensures the separation of management, supervisory and regulatory functions.
  • Exercise of rights of shareholders granted by their shares. Opportunities to exercise both property and non-property rights arising out of the control of shares are ensured simultaneously ensuring interests of minority shareholders.
  • Role of stakeholders. Expectations and rights of stakeholders deriving from agreements or legal regulation are recognized and the active cooperation in the creation of sustainable value added is encouraged.
  • Openness and transparency. Ensurance of timely and accurate disclosure of information about the Group.
  • Responsibility and accountability of management and supervisory bodies. Ensuring that management and supervisory bodies of the Group and individual companies carry out their functions adequately and are accountable to shareholders.
The  principles and model of corporate governance are focused on the assessment of stakeholder expectations and mutual alignment as well as the conversion thereof into measurable targets and indicators.   

System of governance and control

The main implementation and support tool of corporate governance of Lietuvos Energija Group is an integrated management and control system, the aim of which is to ensure a timely and efficient achievement of goals and their compliance with expectations of stakeholders.
 
This system includes all key operational elements: from cyclical business planning by setting performance targets, execution of operations until the achievement of targets and evaluation of achieved performance results, and ensures that the process is continuous and results of the end of one cycle become starting data of another cycle. This is a prerequisite for the implementation of constant improvement principles.
 
There are four groups of processes distinguished in the group management and control system model: governance (planning, strategic decision-making), operational support (human resources management, communication, procurement, etc.), core activity (production, services, trade, etc.) and operational assessment and improvement (monitoring, prevention, risk management).
 
Governance, operational support, assessment and improvement processes in each Group company are essentially the same and directed towards efficient implementation, governance, support, assessment and improvement of core activities of those companies.
 
Thus the main purpose of corporate governance is the improvement of these common processes throughout the entire Lietuvos Energija Group through the centralization, coordination and standardization thereof as well as sharing of experiences and good practice.
 
Corporate governance activities are focused in the parent company of the Group - Lietuvos Energija, UAB, which coordinates in the Group companies the areas of finance, law, planning and monitoring, human resources, risk management, audit, technology, communication and other common areas.
 
Activities of companies of the Group in these areas are based on mutual agreement - cooperation focusing on the pursuit of overall result, and is coordinated by policies - general provisions and norms applicable to all Group companies. 
 
Such a corporate governance model will help Lietuvos Energija Group implement its mission - to build sustainable value in the energy sector by promoting the development of the country’s economy and the society, and to achieve its goal - to double the value of the Group by 2020.

Reports

Reports of Lietuvos Energija are prepared in accordance with international standards on financial accountability and the guidelines on the transparent operations of state-owned enterprises.
  • I Q (1 January 2016 - 31 March 2016)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • Annual Reports
    • Consolidated annual report, consolidated and Company’s financial statements
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  • Corporate Responsibility Report
  • IV Q (1 January 2015 - 31 December 2015)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • III Q (1 January 2015 - 30 September 2015)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • II Q (1 January 2015 - 30 June 2015)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • Company's condensed interim financial information (audited)
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  • I Q (1 January 2014 - 31 March 2015)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • Annual Reports
  • Consolidated annual report, consolidated and Company’s financial statements
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  • IV Q (1 January 2014 - 31 December 2014)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • III Q (1 January 2014 - 30 September 2014)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • II Q (1 January 2014 - 30 June 2014)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • I Q (1 January 2014 - 31 March 2014)
  • Consolidated interim report of the company and the group
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  • Consolidated and Company's condensed interim financial information (unaudited)
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  • Annual Reports
    • Consolidated annual report, consolidated and Company’s financial statements
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  • IV Q (1 January 2013 - 31 December 2013)
  • Consolidated interim report of Lietuvos Energija and the Group
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  • Condensed consolidated and Company's interim financial information (unaudited)
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  • III Q (1 January 2013 - 30 September 2013)
  • Consolidated interim report of Lietuvos Energija and the Group
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  • Condensed consolidated and Company’s interim financial information (unaudited)
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  • II Q (1 January 2013 - 30 June 2013)
  • Consolidated interim report of Company and the Group
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  • Condensed consolidated and Company’s interim financial information (unaudited)
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  • Annual reports
    • Consolidated annual report, consolidated and Company’s financial statements for the year ended 31 December 2012
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  • Interim reports
  • Interim report of the Company for the period ended 30 June 2012
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  • Condensed interim financial information for a six-month period ended 30 June 2012
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  • Condensed consolidated interim financial information (unaudited) for a six-month period ended 30 June 2012
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  • Consolidated interim report for the period ended 30 June 2012
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  • Annual reports
    • Consolidated and company‘s financial statements for the year ended 31 December 2011
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