2015-05-29 16:01:12 CEST

2015-05-29 16:02:15 CEST


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Invalda INVL - Interim information

Unaudited results of Invalda INVL, AB group for the 3 months of 2015 


Vilnius, Lithuania, 2015-05-29 16:01 CEST (GLOBE NEWSWIRE) -- <span
style="font-size:11pt;"><span style="font-family:Arial, Helvetica,
sans-serif;">Unaudited results of Invalda INVL, AB group for the 3 months of
2015: 
- consolidated net profit attributable to shareholders of Invalda INVL, AB
amounted to EUR 1,225 million, in the same period of 2014 it was EUR 0.786
million; 
- consolidated net profit totalled to EUR 1,225 million, in the same period of
2014 it was EUR 0.792 million. 
The net profit of Invalda INVL, AB for the 3 months of 2015 amounted to EUR
0,859 million, in the same period of 2014 it was EUR 0.287
million.</span></span><span style="font-size:11pt;"><em style="font-size: 11pt;"><span
style="font-family:Arial, Helvetica, sans-serif;">Additional
information:</span></span><span style="font-family:Arial, Helvetica, sans-serif;font-size:11pt;">At the
end of the first quarter of 2015 the equity of one of the leading asset
management groups in the Baltic region amounted to EUR 45.4 million, or EUR
3.83 per share. The profit of the first quarter amounted to EUR 1.2
million.</span><span style="font-family:Arial, Helvetica, sans-serif;">The asset management
business</span><span style="font-family:Arial, Helvetica, sans-serif;">At the end of the first
quarter of 2015, </span><span style="font-family:Arial, Helvetica,
sans-serif;">assets under management of </span><span style="font-family:Arial,
Helvetica, sans-serif;">asset management companies, owned by Invalda INVL -
INVL Asset Management, </span><span style="font-family:Arial, Helvetica,
sans-serif;">MP Pension Funds Baltic in Lithuania and Finasta Asset Management
in Latvia - amounted to EUR 304.8 million, or 10.7 percent more than at the end
of 2014.</span><span style="font-family:Arial, Helvetica, sans-serif;">„Asset growth was
influenced by the rise of the stock market and growing number of clients of
pension funds. During the first quarter of 2015 we started merger process of
companies acting in the field of the asset management - after the merger of MP
Pension Funds Baltic, UAB and INVL Asset Management, UAB we will have the
largest team of investment professionals in Lithuania, in </span><span
style="font-family:Arial, Helvetica, sans-serif;">the joint</span><span
style="font-family:Arial, Helvetica, sans-serif;"> company will work more than
50 specialists. </span><span style="font-family:Arial, Helvetica,
sans-serif;">By focusing on customer interests we will seek to offer the widest
range of saving and investment solutions.”- said Darius Šulnis, the President
of Invalda INVL.</span><span style="font-family:Arial, Helvetica, sans-serif;">According to the
President, </span><span style="font-family:Arial, Helvetica, sans-serif;">The
joint company will operate under the name of INVL Asset Management. In order to
express that the asset management business is companies‘ strategic business,
Invalda LT has changed the corporate name of the company to Invalda INVL.</span><span style="font-family:Arial, Helvetica, sans-serif;">The revenues of asset
management business during the first quarter of 2015 amounted to EUR 0.8
million.</span><span style="font-family:Arial, Helvetica, sans-serif;">At the beginning of
January 2015 Invalda INVL, AB finished an acquisition of Latvian Finasta Asset
Management.</span><span style="font-family:Arial, Helvetica, sans-serif;">Other Asset</span><span style="font-family:Arial, Helvetica, sans-serif;">Investments</span><span style="font-family:Arial, Helvetica, sans-serif;">in associated and
related companies</span><span style="font-family:Arial, Helvetica, sans-serif;">At the end of March
2015, EUR 1.652 million was invested into INVL Baltic Real Estate shares.
Investments in INVL Technology, UAB amounted to EUR 807 thousand.</span><span style="font-family:Arial, Helvetica, sans-serif;">“Currently INVL
Technology is preparing for a new issue of shares - Invalda INVL is planning to</span><span style="font-family:Arial, Helvetica,
sans-serif;">participate</span><span style="font-family:Arial, Helvetica,
sans-serif;">in the emission. We are sure, that the</span><span
style="font-family:Arial, Helvetica, sans-serif;"> expertise in acquisitions
and successful exits of Invalda INVL business and the competence of INVL
Technology managers will let to create another success story”- said D.
Šulnis.</span><span style="font-family:Arial, Helvetica, sans-serif;">Agriculture</span><span style="font-family:Arial, Helvetica, sans-serif;"><span
style="font-size:11pt;">Litagra operates in a Baltic Agricultural sector. Its
shares (36.9 percent) were valued EUR 15 million at the end of the first
quarter of 2015 - as well as at the beginning of the year. Currently Litagra
group optimizing its structure and merging trading and grain storage businesses
operating companies - it is expected to increase the efficiency of the
companies.</span></span><span style="font-family:Arial, Helvetica, sans-serif;">Banking </span><span style="font-family:Arial, Helvetica, sans-serif;">On 11 May 2015 Invalda
INVL signed the agreements regarding the sale of bank Finasta and brokerage
company Finasta shares to Šiaulių bankas. To close the deal Šiaulių bankas will
issue new shares, which will be acquired by Invalda INVL.</span><span style="font-family:Arial, Helvetica, sans-serif;">Final transaction price
will depend on a change in Finasta group companies' equity and market price of
held to maturity financial instruments. It is agreed that Šiaulių bankas will
issue new shares at the price of EUR 0.29 per share.</span><span style="font-family:Arial, Helvetica, sans-serif;">"</span><span
style="font-family:Arial, Helvetica, sans-serif;">By concentrating on asset
management business, we exchange Finasta bank control to a minority stake in
growing </span><span style="font-family:Arial, Helvetica, sans-serif;">Šiaulių
bankas</span><span style="font-family:Arial, Helvetica,
sans-serif;">.</span><span style="font-family:Arial, Helvetica, sans-serif;">
We believe that further development of </span><span style="font-family:Arial,
Helvetica, sans-serif;">Šiaulių bankas </span><span style="font-family:Arial,
Helvetica, sans-serif;">will increase</span><span style="font-family:Arial,
Helvetica, sans-serif;"> the value of shares, - said D. Sulnis.</span><span style="font-family:Arial, Helvetica, sans-serif;">Conditions necessary to
close the transaction are: Šiaulių bankas shareholders' decision regarding the
new share issue and the Bank of Lithuania and Competion council permits.</span><span style="font-family:Arial, Helvetica, sans-serif;">At the end of the first
quarter of 2015 the shares of </span><span style="font-family:Arial, Helvetica,
sans-serif;">bank Finasta and brokerage company Finasta at Invalda INVL
financial statement were </span><span style="font-family:Arial, Helvetica,
sans-serif;">valued</span><span style="font-family:Arial, Helvetica,
sans-serif;">EUR 4.759 million. </span><span style="font-family:Arial, Helvetica, sans-serif;"><span
style="font-size:11pt;">Facility management sector</span></span><span style="font-family:Arial, Helvetica, sans-serif;">Invalda INVL manages
100 percent of </span><span style="font-family:Arial, Helvetica,
sans-serif;">Facility management group Inservis ( together with companies
Priemiestis, Jurita, Naujosios Vilnios Turgaviete and Advima). At the end of
the first quarter of 2015 these companies were valued at EUR 3.1 million or 6
percent less than at the end of 2014. On March 2015 dividends amounting to EUR
0.2 million were allocated from Inservis to Invalda INVL. </span><span style="font-family:Arial, Helvetica,
sans-serif;font-size:11pt;">Oth</span><span style="font-family:Arial,
Helvetica, sans-serif;font-size:11pt;">er investments</span><span style="font-family:Arial, Helvetica, sans-serif;">At the end of the first
quarter of 2015 Invalda INVL had EUR 1.2 million invested </span><span
style="font-family:Arial, Helvetica, sans-serif;">in listed companies' shares,
as well as EUR 1.3 million of other investments, also granted EUR 7.4 million
of loans.</span><span style="font-family:Arial, Helvetica, sans-serif;">Total liabilities of
the company amounted to EUR 0.8 million at the end of March 2015.</span><span style="font-family:Arial, Helvetica, sans-serif;">Invalda INVL shares are
listed on NASDAQ Vilnius Stock Exchange</span>


         The person authorized to provide additional information:
         Darius Sulnis
         President
         Phone +370 5279 0601
         E-mail: darius.sulnis@invl.com