| Abstract [eng] |
This Master's thesis aims to examine the efficiency of Lithuanian central heating supply companies. The thesis consists of 3 main parts: analysis of the methods of assessing the efficiency of the company's performance studied in the scientific literature, justification of the methodology chosen for the study, and the analysis, assessment and conclusions of the efficiency of central heating supply companies. In literature analysis part, the author presents other scientists used methods for efficiency evaluation, their advantages and disadvantages and applicability to the central heating supply industry. The following part justifies the research problem, defines the study object and sets out the aims of the study to achieve the objective. Then author presents the financial indicators of profit and profitability, cost and asset turnover ratios used in the scientific literature to assess operational efficiency, and outlines their usefulness and applicability to the assessment of operational efficiency of Lithuanian central heating supply companies. It also presents the peculiarities of the Lithuanian heat supply industry, important factors that may influence and explain the results of the study, which will be taken into account when presenting the conclusions of the study. Finally, the process of the study is presented - all seven largest Lithuanian central heating supply companies are presented, all financial indicators and their calculation formulas chosen for the study are presented, followed by the horizontal and vertical analysis methods chosen for the analysis of the indicators are presented to assess the efficiency of the companies' operations. The analysis then goes on to discuss the efficiency results of the companies, comparing them with each other and with the average of all the companies studied. The selected analytical methods are used to reveal the weaknesses or strengths of the performance of Lithuanian central heating supply companies, factors, effecting the results, are identified. The vertical and horizontal methods of analysis of the balance sheet of central heating supply companies for the years 2020 to 2022 are used to identify the changes in the values of assets, capital and liabilities, the reasons for these changes are analyzed as well. Changes in the financial structure of all companies are assessed and compared, and the possible reasons for changes in the companies are analyzed. The same methods are used to analyze and evaluate the profit and loss accounts of the companies for the same period by analyzing and comparing changes in operating income, expenses and profits, comparing the structure of the operating costs of the Lithuanian heat supply companies and identifying the reasons for the differences between companies. The study further analyses and compares the profitability, cost and asset turnover ratios of the companies and explores the reasons for the differences between the companies. In the end, the author, based on the analysis of the scientific literature, identifies the most appropriate method for assessing the efficiency of heat supply companies. The author also presents the conclusions of the evaluation of the efficiency of all the Lithuanian central heating supply companies based on the research carried out and presents a total of 12 proposals for improving the efficiency of the companies. |
