Invalda AB - Interim information

Unaudited results of Invalda AB group for the period of 9 months ending September 30, 2012

Vilnius, Lithuania, 2012-11-30 20:24 CET (GLOBE NEWSWIRE) -- Unaudited results
of Invalda AB group for the period of 9 months ending September 30, 2012: 

- consolidated net profit attributable to shareholders of Invalda AB totaled to
22.2 million litas (€6.4 million), (in the same period of 2011 it was 232.8
million litas (€67.4 million)); 
- consolidated net profit totaled to 27.4 million litas (€7.93 million), (in
the same period of 2011 it was 238.3 million litas (€69.0 million)). 

Net profit of Invalda AB for the period of 6 months ending September 30, 2012
amounted to 24.2 million litas (€7.0 million) (in the same period of 2011 net
profit totaled to 299.1 million litas (€86.6 million)). 

A review of the results of Invalda AB group for nine months of 2012:
Invalda AB, one of the largest investment companies in Lithuania, earned
unaudited consolidated net profit of 22.2 million litas (€6.4 million)
attributable to the parent company within nine months of 2012. This is 10.5
times less than in the same period of 2011 when the profit was 232.8 million
litas (€67.4 million). 
In 2012 Invalda AB form a reserve of 59.6 million litas (€17.3 million) for a
share buy-back program. 
According to D. Kaziunas, currently the Board of Invalda AB is drawing - up the
terms of split-off of the Company. Under those terms a part of the assets,
rights and obligations will be split - off from Invalda AB. 

The furniture manufacturing sector, where Invalda AB controls 72 percent stake
in the largest Lithuanian furniture manufacturing company Vilniaus Baldai AB,
within nine months of 2012 earned 14.1 million litas (€4.1 million) of
unaudited net profit for Invalda AB, i.e. 1 million litas (€0.3 million) less
than in January-September of 2011 (15.1 million litas (€4.4 million)). 
The sales of Vilniaus Baldai AB for nine months totaled to 179.1 million litas
(€51.9 million); this is 0.1 percent less compared to the corresponding period
of 2011; net profit for the period of January - September amounted to 19.5
million litas (€5.6 million) (20.9 million litas (€6.1 million) in the
corresponding period of 2011) and EBITDA was 26.9 million litas (€7.8 million)
(28.3 million litas (€8.2 million) in the corresponding period of 2011). After
eliminating of one-off items, the profitability of Vilniaus Baldai AB activity
within nine months of 2012 totaled to 22.1 million litas (€6.4 million); this
is 2.5 percent more compared to profit of 21.6 million litas (€6.3 million) for
the corresponding period of 2011. 
Invalda AB received 28 million litas dividends out of total 39 million litas
dividends paid to Vilniaus Baldai AB shareholders out of 2011 net profit. 

The loss in the real estate sector for nine months of 2012 amounted to 10
million litas (€2.9 million) (in January-September of 2011 it was 2.2 million
litas (€0.6 million)). The loss was caused by revaluation of investment
property, which reduced the value of assets by 9.2 million litas (€2.7
million), to 230.1 million litas (€66.6 million). 
It was announced in November that Invalda AB group company started 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
Kopu Vetrunges house with 40 apartments in Kursiu Nerija. 

In the facility management sector, where Invalda AB owns Inreal Pastatu
Prieziura UAB and other companies, sales grew by 33.3 percent up to 9.6 million
litas (€2.8 million), loss totaled to 0.2 million litas (€0.06 million). 

The agricultural sector, where Invalda AB owns 36.8 percent shares of Litagra
UAB, earned a profit of 7.5 million litas (€2.2 million) to Invalda AB. A
turnover of Litagra UAB (by the Business Accounting Standards) during the nine
months of 2012 increased by 11.1 percent to 301.7 million litas (€87.4
million), and net profit amounted to 18 million litas (€5.2 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 1.4 million
litas (€0.4 million). 

At the end of the third quarter of 2012, Invalda AB owned 12.5 percent of
Trakcja - Tiltra S.A shares which are listed on Warsaw Stock Exchange. The
change of the share price of Trakcja - Tiltra S.A brought to Invalda AB a
profit of 5.8 million litas (€ 1.7 million). Unlike other sectors, investment
of Invalda in Trakcja - Tiltra is a financial one; therefore, the financial
statement of Invalda reflects changes of the share price but not the result of
activity of Trakcja - Tiltra S.A. 
Invalda AB sold a part of its shares in Trakcja-Tiltra S.A in the fourth
quarter of 2012. After a number of transactions on Warsaw Stock Exchange,
Invalda's share was decreased to less than 10 percent of the total vote of the
company. 

Other important nine months and post-balance sheet events
In 2012, the share capital of Invalda AB was reduced, as a result of annulment
of acquired 10 percent of own shares for the total amount of 59.6 million litas
(€17.3 million). 
On November 20, 2012 Shareholders of Invalda AB authorized the Board to draw up
the terms of split-off of the Company.  „As announced previously, possible
allocation of the assets between the companies after the split-off as well as
the structure of the shareholding in those companies will be known after
preparation of the terms of split-off”, - said D. Kaziunas. 
According to him, the terms will be published not later than 30 days before the
General Shareholders Meeting which will be asked to approve the split-off. 

Enclosed:
- Consolidated and company's unaudited financial statements for the period of 9
months ending September 30, 2012; 
- Unaudited consolidated interim report for the period of 9 months ending
September 30, 2012; 
- Confirmation of persons responsible for the financial statements;
- Presentation of Invalda AB group results for the period of 9 months ending
September 30, 2012. 


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

Attachments:

Invalda Interim Report for 9 months of 2012.pdf

Presentation of results.pdf

AB Invalda IFRS 2012 IIIQ EN.pdf

Confirmation of Responsible Persons.pdf