2012-08-27 17:29:01 CEST

2012-08-27 17:30:06 CEST


REGULATED INFORMATION

Lithuanian English
Invalda AB - Interim information

Unaudited results of Invalda AB group for the period of 6 months ending June 30, 2012 


Vilnius, Lithuania, 2012-08-27 17:29 CEST (GLOBE NEWSWIRE) -- Unaudited results
of Invalda AB group for the period of 6 months ending June 30, 2012: 
- consolidated net profit attributable to shareholders of Invalda AB totaled to
19.9 million litas (€ 5.8 million), (in the same period of 2011 it was 141.7
million litas (€41 million)); 
 - consolidated net profit totaled to 22.7 million litas (€6.6 million), (in
the same period of 2011 it was 145.4 million litas (€42.1 million)). 

Net profit of Invalda AB for the period of 6 months ending June 30, 2012
amounted to 36.2 million litas (€10.5 million) (in the same period of 2011 the
net profit amounted to 193.1 million litas (€55.9 million)). 


A review of the results of Invalda AB group for the first half of 2012:


Invalda, one of the largest investment companies in Lithuania, earned unaudited
consolidated net profit of 19.9 million litas (€5.8 million) attributable to
the parent company in the first half of 2012. This is 7.1 times less than in
the first half of 2011 when the profit was 141.7 million litas (€41 million).
59.6 million litas (€17.3 million) was allocated by Invalda AB for a share
buy-back program in the first half of 2012. 

The furniture manufacturing sector, where Invalda AB controls 72 percent stake
in the largest Lithuanian furniture manufacturing company Vilniaus Baldai AB,
earned 7.8 million litas (€2.3 million) for Invalda AB, i.e. 19 percent less
than in January-June of 2011 (9.6 million litas (€2.8 million)). The
consolidated sales of Vilniaus Baldai AB were 115.4 million litas (€33.4
million), and were 0.5 percent higher than in the corresponding period of 2011
when they reached 114.8 million litas (€33.2 million). EBITDA decreased by 15
percent to 15.4 million litas (€4.5 million) and net profit decreased by 19
percent to 10.9 million litas (€3.2 million). Both, net profit and EBITDA
decreased due to one - off operating costs (it was 3 million litas (€0.9
million) in the first half of 2012, compared to 0.8 million litas (€0.2
million) in the corresponding period of 2011). The shareholders of Vilniaus
baldai AB decided to allocate 39 million litas (€11.3 million) for dividends,
28 million litas (€8.1 million) of this amount was paid to Invalda AB. 

The loss of the real estate sector for the first half of 2012 amounted to 0.3
million litas (€0.1 million) (in January- June of 2011 it was 1.4 million litas
(€0.4 million)). In the first half of this year, compared with the same period
of 2011, total rental income grew by 7 percent to 9 million litas (€2.6
million), from which rental income from assets belonging to their clients -
grew by 4 percent to 2.6 million litas (€0.8 million). The total sector's
income growth was caused by the fact that apartments for the total amount close
to 5.3 million litas (€1.5 million) were sold in the project Elniakampio Namai.
Overall residential property sales amounted to more than 6.5 million litas
(€1.9 million). During the first quarter of 2012 further investments to
agricultural land were made; close to 2 million litas (€0.6 million) was
invested. 

Facility management sector, where Invalda AB owns Inreal Pastatu Prieziura UAB
and other companies, sales grew by 36.4 percent up to 6.0 million litas (€1.7
million), loss totalled to 0.2 million litas (€0.06 million). The department
providing cleaning services started its activity and signed the first contracts
after winning public procurement tenders. 

In the agricultural sector, where Invalda AB owns 36.8 percent shares of
Litagra UAB, earned a profit of 3.6 million litas (€1 million) to Invalda AB. 

In the information technology infrastructure sector where Invalda AB owns 80
percent of BAIP Group UAB, Invalda AB incurred a loss of 1.1 million litas
(€0.3 million). 

Invalda owns 12.5 percent of Trakcja - Tiltra S.A. shares which are listed on
Warsaw Stock Exchange. Due to decline of the share price of this company
Invalda AB earned a profit of 5.7 million litas (€1.7 million). Unlike other
sectors, investment of Invalda AB in Trakcja - Tiltra S.A. is a financial one;
therefore financial statement of Invalda AB reflects changes of the share price
but not the result of activity of Trakcja - Tiltra S.A. 

Other important first quarter and post-balance sheet events
The Articles of Association were amended due to reduction of the share capital
of the Company for the purpose of cancelling of the own shares on August 6,
2012. The share capital of Invalda AB was reduced from 57,557,940 litas
(€16,669,931.64) to 51,802,146 litas (€15,002,938.48) by cancelling 5,755,794
ordinary registered shares at par value of 1 litas (0.29 euro). 


Enclosed:
 - Consolidated and company's unaudited financial statements for the period of
6 months ending June 30, 2012; 
 - Unaudited consolidated interim report for the period of 6 months ending June
30, 2012; 
 - Confirmation of persons responsible for the financial statements;
 - Presentation of Invalda AB group results for the period of 6 months ending
June 30, 2012. 


         Dalius Kaziunas
         President
         Tel. (8 5) 273 3278
         Email: dalius@invalda.lt