In 2014 state-owned enterprisesaccounted for 3 percent of Lithuania's GDP

Wednesday, 21 October 2015

In 2014 state-owned enterprises (SOE) remained an important part of Lithuania's economy - their input in economy accounted for 3 percent of GDP. In 2014 SOEs earned total revenue of EUR 2.3 billion, which is by 5.6 percent more compared to 2013. Moreover, their normalised net profit increased by nearly 2 percent to EUR 150 million, while their estimated market value grew by 11 percent to EUR 5 billion.

Lithuanian SOEs transferred EUR 104 million to the state budget in 2014, by 2.3 times more compared to 2013. Of this amount dividends and income contributions constituted EUR 74.3 million, by 4.4 times more than in 2013.

In 2013 state-owned energy enterprises paid to the state budget only 74.5 thousand in dividend payments, whereas in 2014 they transferred EUR 52.9 million in dividend payments. Energy company Lietuvos Energija accounted nearly for the entire amount of dividend payments by energy companies - EUR 52.7 million.

State forest enterprises and State Forest Research Institute transferred the most in income contributions - EUR 5.5 million. Meanwhile, SOEs' property tax and raw material tax contributions amounted to EUR 30 million.

The 2014 SOE Activity Report for the first time revealed wages of heads of SOEs. In 2014 the largest wages of heads of SOEs were among the energy sector enterprises, EUR 4,100 on average, while the lowest were in the forestry sector, EUR 2,000. In 2014 deputy directors of SOEs on average earned 86 percent of directors' wages, chief accountants - 83 percent.

Powered by Elxis - Open Source CMS