INVL Baltic Real Estate - Notification on material event

AB INVL Baltic Real Estate unaudited results and factsheet for 3 months of 2016

Vilnius, Lithuania, 2016-05-10 08:31 CEST (GLOBE NEWSWIRE) -- For 3 months of
2016, the unaudited consolidated net profit of the AB INVL Baltic Real Estate
group and the part of profit attributable to the shareholders of AB INVL Baltic
Real Estate was EUR 341 thousand, the revenue was EUR 1,618 thousand (for 3
months of 2015 the consolidated net profit was EUR 276 thousand, the revenue
was EUR 1,405 thousand). 

Additional information:

The real estate investment company INVL Baltic Real Estate had a net profit in
the first quarter of this year of EUR 0.34 million, or EUR 0.01 per share. The
company´s revenue for the period was EUR 1.62 million, of which EUR 0.9 million
was from leasing properties it owns. Compared with the same period last year,
the company’s net profit increased 23.6 per cent, revenue grew 15 per cent, and
revenue from leasing owned properties rose 36.6 per cent. 

The company’s equity capital at the end of the first quarter was EUR 27.696
million, or EUR 0.42 per share. 

“We’re focusing on effective management of the group’s assets in Lithuania and
Latvia, and especially on the adaptation of the spaces at the Vilnius Gates
complex which belong to the company and their presentation to business people
who value the chance to work in the very centre of the capital alongside a key
transportation artery,” said Egidijus Damulis, the CEO of INVL Baltic Real
Estate. 

In March the company signed an agreement with the Lithuanian subsidiary of
Barclays Group Operations Limited on the lease of 550 square metres of premises
at the Vilnius Gates complex for the new Rise Vilnius startup partnering space
that will begin operating this summer. Additionally, with the aim of
reorganizing the part of the Vilnius Gates complex acquired by the company, an
agreement on planning the reconstruction of premises at the complex was signed
with Architektūros Kūrybinė Grupė. 

INVL Baltic Real Estate completed a EUR 7.5 million transaction to acquire
6,500 square metres of commercial and office premises at the Vilnius Gates
complex in January this year. 

According to the CEO, having completed a EUR 9 million offering of new shares
in March, INVL Baltic Real Estate is also consistently pursuing the goal of
becoming a closed-end investment company. In early May, the board of INVL
Baltic Real Estate applied to the Bank of Lithuania for a license to operate as
a closed-end investment company. Once that status is obtained, the management
of INVL Baltic Real Estate will be transferred in a trust arrangement to INVL
Asset Management, part of the leading Baltic asset management group Invalda
INVL. 

INVL Baltic Real Estate’s net profit in 2015 was EUR 4.096 million, or EUR 0.09
per share, and revenue for the year was EUR 5.7 million. The company this year
decided to allocate EUR 789 thousand to shareholder dividends, for a dividend
per share of EUR 0.012. 

INVL Baltic Real Estate group manages real estate valued at EUR 52 million
comprising 58,000 square metres at strategically attractive locations in
Vilnius and Riga: office space at the Vilnius Gates complex, the IBC Business
Centre near Konstitucijos Avenue, office buildings in the Old Town on Vilniaus
Street and in Šiaurės Miestelis, office and warehouse premises in Kirtimai, and
the Dommo Business Park manufacturing, warehouse and office complex beside the
Riga bypass. The company’s shares trade on the Nasdaq Vilnius exchange. 


         The person authorized to provide additional information:
         Egidijus Damulis
         Director
         Email: egidijus.damulis@invl.com

Attachments:

Factsheet 3 mnth_2016.pdf