2014-11-28 08:00:44 CET

2014-11-28 08:01:45 CET


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Invalda LT - Interim information

Unaudited results of Invalda LT, AB group for the first 9 months of 2014 


Vilnius, Lithuania, 2014-11-28 08:00 CET (GLOBE NEWSWIRE) -- Unaudited results
of Invalda LT, AB group for the first 9 months of 2014: 
- consolidated net profit attributable to shareholders of Invalda LT, AB
totalled to LTL 21.3 million (EUR 6.2 million), in the same period of 2013 it
was LTL 94.8 million (EUR 27.5 million); 
- consolidated net profit totalled to LTL 21.2 million (EUR 6.1 million), in
the same period of 2013 it was LTL 95.8 million (EUR 27.7 million). 
The net profit of Invalda LT, AB for the nine months of 2014 amounted to LTL 78
million (EUR 22.6 million) (at the same period of 2013 the profit amounted to
LTL 87.3 million (EUR 25.3 million). 

Additional information:
Invalda LT is one of the major companies in Lithuania investing in other
businesses and managing assets. Company's net asset value was LTL 161 million
(EUR 46.6 million) or LTL 13.57 (EUR 3.93) per share at the end of September
2014. 

After the split-off in the second quarter of 2014, Invalda LT is now presented
as an investment company (according to the 10th International Financial
Reporting Standard). This means, that all assets owned by Invalda LT are valued
according to their fair value, while only the main management businesses is
consolidated. 

“We have completed the acquisition of MP Pension Funds Baltic, a specialised
pension funds company, during the third quarter of 2014 and have signed a
binding Share Purchase Agreement for the acquisition of Finasta Group. These
deals are strategic to Invalda LT group. They will strengthen position of
Invalda LT as one of the largest and oldest participants in the asset
management market in Lithuania”, - Darius Sulnis, the president of Invalda LT,
said. 

At the end of September 2014, investment into the main asset management
business (MP Pension Funds Baltic and license seeking Invalda LT Investments)
amounted to LTL 12.8 million (EUR 3.7 million). MP Pension Funds Baltic had LTL
308.2 million (EUR 89.3 million) assets under management at the end of the
third quarter of 2014. The company has 62 thousand clients. Compared to the
beginning of 2014, company's assets under management increased by 22.2%, a
number of clients by 7.4%. 

Cash and cash equivalents owned by Invalda LT amounted to LTL 27.9 million (EUR
8.1 million) at the end of nine months of 2014. 

The value of 12.4% shares in INVL Baltic Real Estate amounted to LTL 5.5
million (EUR 1.6 million) according to the market price, while the value of
12.4% shares in INVL Technology was LTL 2.6 million (EUR 0.8 million). 

Loans to INVL Baltic Real Estate group companies as well as INVL Technology
group companies amounted to LTL 28 million (EUR 8.1 million). 

A total value of Invalda LT investment into Litagra, UAB amounted to LTL 51.6
million (EUR 14.9 million) at the end of September 2014. The valuation was
implemented according to the completed purchase transaction when at the end of
May 2014 Invalda LT increased its owned stake in Litagra to 36.9%. 

Value of investments into facility management companies Inservis, Priemestis,
Jurita and Naujosios Vilnios Turgaviete amounted to LTL 11.7 million (EUR 3.4
million) at the end of September 2014. Valuation was implemented according to
EBITDA multiplier of a comparative company listed on NASDAQ Vilnius stock
exchange. 

Other investments amounted to LTL 6 million (EUR 1.7 million), from which LTL
4.3 million (EUR 1.2 million) were invested into listed shares. 

The deferred income tax asset of Invalda LT was LTL 7.1 million (EUR 2.1
million) at the end of September 2014. 

Standalone profit of Invalda LT was LTL 78 million (EUR 22.6 million), while
consolidated profit, attributable for shareholders of the parent company was
LTL 21.3 million (EUR 6.2 million) for the nine months of 2014. The profit of
Invalda LT was LT 2.5 million (EUR 0.7 million) on the third quarter of 2014. 

After the split-off of Invalda LT was completed at the end of April 2014, new
companies INVL Baltic Farmland, INVL Baltic Real Estate and INVL Technology
started their activity. Shares of these companies are listed on NASDAQ Vilnius
stock exchange. 


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