2015-11-30 08:49:08 CET

2015-11-30 08:49:08 CET


REGULATED INFORMATION

Lithuanian English
Invalda INVL - Interim information

Unaudited results of Invalda INVL, AB group for the 9 months of 2015 


Vilnius, Lithuania, 2015-11-30 08:48 CET (GLOBE NEWSWIRE) -- Unaudited results
of Invalda INVL, AB group for the 9 months of 2015: 
- consolidated net profit attributable to shareholders of Invalda INVL, AB
amounted to EUR 5.1 million, in the same period of 2014 it was EUR 6.2 million; 
- consolidated equity capital for the 9 months of 2015 amounted to EUR 49.1
million, in the same period of 2014 it was EUR 46.6 million; 
- consolidated net profit totalled to EUR 5.1 million, in the same period of
2014 it was EUR 6.1 million. 
The net profit of Invalda INVL, AB for the 9 months of 2015 amounted to EUR 5.1
million, in the same period of 2014 it was EUR 22.6 million. Equity capital of
Invalda INVL, AB for the 9 months of 2015 amounted to EUR 49.1 million, in the
same period of 2014 it was EUR 46.6 million. 

Additional information:

At the end of the third quarter of 2015, the value of the equity capital of
Invalda INVL, one of the Baltic region’s leading asset management groups, was
EUR 49.1 million, or EUR 4.19 per share. During the first three quarters, the
group’s equity capital per share increased by 11.5% while profit was EUR 5.1
million, 16.4 % less than in the same period of 2014 (EUR 6.1 million). 

Asset management business

Invalda INVL’s asset management companies INVL Asset Management in Lithuanian
and Latvia and the administrative company INVL Farmland Management had EUR
307.5 million of assets under management at the end of September, or 11.7% more
than at the end of 2014 (EUR 275.3 million). Revenue of Invalda INVL group
companies from asset management and administration activities during 9 months
of this year was EUR 2.4 million. 

After completion in early October of the merger of INVL Asset Management, MP
Pension Funds Baltic and INVL Fondai, it is INVL Asset Management that now
operates in the market. 

Investments

Investments in related companies

The value of Invalda INVL’s investment in INVL Technology, of which it owns
15.65% of shares, was EUR 4.1 million at the end of September, while the
recognized gain from changes in the value of the company’s shares was EUR 1.0
million. 

Having completed the placement of a 10-million-euro share issue in July this
year, INVL Technology, a company that invests in IT businesses, is currently
seeking the status of a closed-end investment company. In September the company
applied to the Bank of Lithuania for a license to operate as a closed-end
investment company. After obtaining this status, management of the company will
be transferred to INVL Asset Management. 

Invalda INVL’s equity and debt investments in INVL Baltic Real Estate, of which
it owns 12.7% of shares, were EUR 6.5 million as of the end of September. In 9
months of this year, interest of EUR 175 thousand was received from this
investment, though changes in the value of the shares during the period led to
an overall loss of EUR 0.4 million. 

INVL Baltic Real Estate, a company that invests in real estate, at the start of
October acquired 6,500 square metres of commercial property at the Vilnius
Gates complex in the Lithuanian capital (address: Gynėjų St. 14). Following
this transaction, the company manages about 58,200 square metres of real estate
premises in Vilnius and Riga. 

Early next year, INVL Baltic Real Estate plans to issue and publicly offer
shares with a value of EUR 10.071 million. Proceeds from the new issue will be
used to finance the acquisition of premises in the Vilnius Gates complex and to
balance the company's ratio of debt and equity capital before it becomes a
closed-end investment company. 

In late November, Invalda INVL made an official voluntary tender offer to buy
up shares of INVL Baltic Real Estate. During the offer, shares may be sold by
those shareholders who did not vote in favour of INVL Baltic Real Estate
obtaining a license as a closed-end investment company. 

Agriculture

The value of Invalda INVL’s investments in the Baltic agribusiness company
Litagra, of which it owns 36.9% of shares, was EUR 16.7 million at the end of
the third quarter, which is EUR 1.9 million or 12.5% more than at the start of
the year. This year, in order to simplify the group’s structure and increase
efficiency, the subsidiaries that provide services to farmers and those that
operate grain elevators are being merged. The change should speed up
decision-making and improve client care. 

Banking activities

In September, Invalda INVL purchased newly issued shares of Šiaulių Bankas for
EUR 6.19 million and thus acquired a 6.79% stake in Šiaulių Bankas. In 9 months
of this year, Invalda INVL had a total gain of EUR 1.7 million from its
transaction with Šiaulių Bankas, which included the transfer to Šiaulių Bankas
of the shares of Bankas Finasta and the financial brokerage firm FMĮ Finasta,
and from changes in the value of the shares of Šiaulių Bankas. 

The transaction in which Invalda INVL acquired the newly issued Šiaulių Bankas
shares was completed after Šiaulių Bankas received approval from the Bank of
Lithuania to increase its authorized capital and after related changes to the
bank’s charter were registered at the Centre of Registers. Šiaulių Bankas
issued the shares to make settlement for the transfer by Invalda INVL to
Šiaulių Bankas of the shares of Bankas Finasta and the financial brokerage firm
FMĮ Finasta. 

Facility management

Companies of the Inservis facility management group, which Invalda INVL
controls, were valued at EUR 4.4 million at the end of September, or 34% more
than at the end of 2014. In 9 months of this year, EUR 237 thousand of
dividends were allocated by these companies, while the gain from their change
in value was EUR 1.1 million. As of the end of September, Inservis controlled
the companies Priemiestis, Jurita, Advima and Naujosios Vilnios Turgaviete. In
November, the group sold its shares in the latter company and Advima was merged
with Inservis. 

Other investments

As of the end of September, Invalda INVL had EUR 0.5 million of investments in
other publicly traded shares as well as EUR 2.3 million of other investments
and loans. Invalda INVL had total liabilities of EUR 0.8 million after three
quarters of this year. 


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