2013-02-22 19:50:15 CET

2013-02-22 19:51:23 CET


REGULATED INFORMATION

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Invalda AB - Interim information

Unaudited results of Invalda AB group for the period of 12 months ending on December 31, 2012 


Vilnius, Lithuania, 2013-02-22 19:50 CET (GLOBE NEWSWIRE) -- Unaudited results
of Invalda AB group for the period of 12 months ending on December 31, 2012: 
- consolidated net profit attributable to shareholders of Invalda AB totaled to
23.3 million litas (€ 6.7 million), (in the same period of 2011 it was 209.0
million litas (€60.5 million)); 
 - total consolidated net profit amounted to 30.7 million litas (€8.9 million),
(in the same period of 2011 it was 216.5 million litas (€62.7 million)). 

Net profit of the Company for the same period amounted to 20.9 million litas
(€6.05 million) (Company's net profit for 2011 totaled to 274.9 million litas
(€79.6 million)). 

A review of the results of Invalda AB group for 12 months of 2012:

Invalda AB, one of the largest investment companies in Lithuania, earned
unaudited consolidated net profit of 23.3 million litas (€6.7 million)
attributable to the parent company within 2012. This is 9 times less than in
the same period of 2011 when the profit was 209.0 million litas (€60.5
million). 

In 2012 Invalda AB allocated 59.6 million litas (€17.3 million) for the share
buy-back program. Currently another share buy - back program has been started;
the total amount of 42.9 million litas (€12.4 million) has been allocated for
it. 
D. Kaziunas explained, that the split - off terms of Invalda AB has been
announced recently; according to those terms,  a part of Invalda AB will be
split - off and on the basis of this part a new public joint - stock company
Invalda Privatus Kapitalas AB will be formed. In the split - off, 45.45 percent
of the total assets of the Company (a balance sheet value of the Company's
assets at the end of 2012 totalled to 372.1 million litas (€107.8 million)) as
well as 45.45 percent of the Company's equity capital and liabilities will be
allocated to the newly established entity. 

The furniture manufacturing sector, where Invalda AB controls 72 percent stake
in the largest Lithuanian furniture manufacturing company Vilniaus Baldai AB,
earned 19.4 million litas (€5.6 million) of unaudited net profit for Invalda
AB, i.e. 0.1  million litas (€0.03 million) more than in January-December of
2011 (19.3 million litas (€5.6 million)). In 2012, sales of Vilniaus Baldai AB
reached 230.1 million litas (€66.6 million) or 3.5 per cent less than the sales
in 2011 (238.4 million litas (€69.0 million)). Earnings before Interest, Taxes,
Depreciation and Amortization (EBITDA) totalled to 34.8 million litas (€10.1
million) (in 2011 it was 36.1 million litas (€10.5 million)). Having eliminated
the influence of one-off costs in 2012, EBITDA totalled to 37.8 million litas
(€10.9 million) and exceeded EBITDA for 2011 by 2.4 percent (36.9 million litas
(€10.7 million)). In 2012, the company earned a net profit of 26.8 million
litas (€7.8 million). Vilnius Baldai AB announced that the amount of about 27
million litas (€7.8 million) will be allocated for the investments during the
period of 2012-2013. 

The loss in the real estate sector for 2012 amounted to 11.1 million litas
(€3.2 million) (in 2011 it was 17.8 million litas (€5.2 million)). The loss was
caused by revaluation of investment property, which reduced the value of assets
by 8.7 million litas (€2.5 million), to 226.8 million litas (€65.7 million). In
2012 Invalda AB group company started a development of the complex of 20
residential apartments and 4 commercial premises Danes Uzutekis in the old town
of Klaipeda as well as the construction of the new 40 residential apartment
house Kopu Vetrunges in Kursiu Nerija. 

In the facility management sector, where Invalda AB owns Inreal Pastatu
Prieziura UAB and other companies, sales grew by 24.3 percent up to 13.3
million litas (€3.9 million), loss totaled to 0.3 million litas (€0.1 million). 

The agricultural sector, where Invalda AB owns 36.8 percent shares in Litagra
UAB, earned a profit of 7.2 million litas (€2.1 million) to Invalda AB. A
turnover of Litagra UAB (by the Business Accounting Standards) during the 2012
increased by 34.9 percent, to 429.2 million litas (€124.3 million), and net
profit amounted to 20.3 million litas (€5.9 million). 

In the information technology infrastructure sector (Invalda AB owns 80 percent
of BAIP Group UAB in this sector), Invalda AB incurred a loss of 1.1 million
litas (€0.3 million). Consolidated turnover was 40.2 million litas (€11.6
million) or 16.5 percent less than 2011 (34.5 million litas (€10.0 million)). 

Other important twelve months and post-balance sheet events:

On February 13, 2013 the Board of Invalda AB published the drawn - up the
Company‘s split - off terms and initiated a share buy - back program for
acquisition of up to 10 percent of the treasury shares. According to the
publicly announced split - off terms, a part of Invalda AB will be split - off
and on the basis of this part a new public joint - stock company Invalda
Privatus Kapitalas AB will be formed. In the split - off, 45.45 percent of the
total assets of the Company (a balance sheet value of the Company's assets at
the end of 2012 totaled to 372.1 million litas (€107.8 million)) as well as
45.45 percent of the Company's equity capital and liabilities will be allocated
to the newly established entity. 



Enclosed:
- Consolidated and company's unaudited financial statements for the period of
12 months ending on December 31, 2012; 
- Unaudited consolidated interim report for the period of 12 months ending on
December 31, 2012; 
- Confirmation of persons responsible for the financial statements;
- Presentation of Invalda AB group results for the period of 12 months ending
on December 31, 2012. 


         The person authorized to provide additional information:
         Dalius Kaziunas
         President
         Tel. (8 5) 273 3278
         Email: dalius@invalda.lt