Slide 1: Preliminary results of Invalda AB group for 9 months 2011
Preliminary results of Invalda AB group for the period 9 months ending 30 September 2011 Vilnius, 30 November 2011
Slide 2: What is Invalda AB?
What is Invalda AB? Invalda AB is one of the major Lithuanian investment companies whose primary objective is to steadily increase the investor equity value. Invalda actively manages its investments, exercising control or significant influence over target businesses. More about businesses managed by
Slide 3: Management principles
Management principles Invalda is proactively managing its investments following these principles: Each business of the Group must be competitive and self- Competitiveness and sufficient, have professional teams and top managers capable independence of creating business visions and implementing ambit
Slide 4: Investment philosophy
Investment philosophy Invalda is the company driven by shareholder value creation. Invalda seeks to acquire Investing into Invalda does not avoid complex competitive businesses that, undervalued assets that, business opportunities. Such with additional capital or when restructured, may approach is s
Slide 5: Activity sectors of Invalda Group
Activity sectors of Invalda Group 5
Slide 6: The structure of shareholders
The structure of shareholders Other shareholders 22.74% Vytautas Bucas Algirdas Bucas 18.56% 6.63% Alvydas Banys and related persons 8.29% Darius Sulnis 7.88% Lucrum Investicija UAB 10.38% Irena Ona Miseikiene 25.52% Votes owned as of 30-09-2011 6
Slide 7: Management
Management Vytautas Bucas - Chairman of the Board Vytautas Bucas is a member of ACCA (Association of Chartered Certified Accountants, UK) since 2002. After graduation from his studies at Vilnius University for a period he worked at the audit firm Arthur Andersen, where, having started from an audito
Slide 8: Information about Invalda AB shares
Information about Invalda AB shares Total number of securities 51 659 758 (units) Nominal value 1 LTL The company has issued convertible bonds ISIN LT0000102279 of 32.44 m LTL in nominal value; after converting, the authorized capital could Name IVL1L increase by 5.898.182 shares of 1 LTL in Exchang
Slide 9: Trading in shares
Trading in shares Turnover (EUR) IVL1L change (%) OMXV change (%) OMX Baltic Financials GI change (%) DJStoxxEUTMI change (%) 120,00 450000 100,00 400000 350000 80,00 300000 Turnover (EUR) 60,00 Change (%) 250000 40,00 200000 20,00 150000 0,00 100000 -20,00 50000 -40,00 0 30.09.2010 13.10.2010 26.10
Slide 10: Financial results
Financial results
Slide 11: Key events (1)
Key events (1) An agreement regarding investments in Litagra was signed (1) Agreements regarding investments Invalda will purchase 36.9 percent of in Litagra, one of the largest Litagra shares for 38.6 mLTL (11.2 companies operating in the mEUR), 37.1 mLTL (10.7 mEUR) out agricultural sector of the
Slide 12: Key events (1) Litagra investment
Key events (1) An agreement regarding investments in Litagra was signed (2) Mr. Gintaras Kateiva, Chairman of The companies of Litagra Group the Board at Litagra, will own 37 are engaged in the primary crop percent of Litagra shares, Invalda AB and livestock (milk) production, – 36.9 percent, invest
Slide 13: Key events (2) Investments in Snoras products
Key events (2) Investments in Snoras products Invalda has acquired 20 mLTL In November, the Government took (5.79 mEUR) deposit certificate of over 100 percent of AB bank Snoras AB bank Snoras. shares. The Bank of Lithuania has limited activities of AB bank Snoras, revoked the bank's business licens
Slide 14: Key events (3)
Key events (3) (3) Acquisition: BAIP group acquired 100 percent shares of Norwegian company Norway Registers Development for 1.2 mEUR (4.14 mLTL). Norway Registers Development owns 70.73 percent shares of NRD UAB in Lithuania. The acquired company specializes in the programming of register systems.
Slide 15: Previous events (1)
Previous events (1) On 19 August 2011 the sale of shareholding in Sanitas AB to Valeant Pharmaceuticals International, Inc. was completed Invalda sold 26.5 percent stake in Net gain in the consolidated Sanitas AB, for which Valeant has financial statements of Invalda paid 83 mEUR (286.7 mLTL), or Gr
Slide 16: Previous events (2)
Previous events (2) (2) In April a merger of Trakcja Polska and Tiltra Group completed. Invalda sold 44.8 percent stake in Proceedings paid to Invalda AB for Tiltra Group and 43.4 percent stake shares in Tiltra Group AB and Kauno in Kauno Tiltai AB for 314.1 mPLN Tiltai AB might be reduced by not an
Slide 17: Previous events (3)
Previous events (3) Other events After completion of Sanitas and Invalda group increased stake in Tilta transactions Invalda repaid Vernitas AB up to more than 20 practically all financial obligations percent. to banks and group companies. A company Jurita joined the facility Invalda group increased
Slide 18: Activity results of Invalda AB
Activity results of Invalda AB Consolidated Parent company 2010 2011 2010 2011 mLTL 9 months 9 months 9 months 9 months Assets 592.4 704.3 313.7 465.8 Equity 185.5 436.4 91.0 384.9 detailed in 19 slide Liabilities 406.9 267.9 222.7 80.9 Profit (loss) for the 37.9 239.5 (5.3) 299.1 period Attributabl
Slide 19: Equity and liabilities
Equity and liabilities 2010 2011 Invalda AB, mLTL 9 months 9 months Equity 91.0 384.9 Liabilities to financial institutions 139.4 1.7 from this long term 95.4 - Liabilities to group companies 45.5 0.2 Bonds 32.4 33.2 Provision for a possible price reduction - 42.5 Other liabilities 5.4 3.3 Total lia
Slide 20: Invalda AB detailing assets (book value)
Invalda AB detailing assets (book value) Book value Asset Description 30-09-2011mLTL 72.14 percent stake in Vilniaus Baldai, the Furniture manufacturing 14 stock price value 91 mLTL (26.4 mEUR) Investments to the real estate and loans Real estate 147 granted to the sector companies Rail and road con
Slide 21: Results
Results Group sectors and financial investments impact to the profit (loss) statement of Invalda. mLTL 2010 9 months 2011 9 months Furniture manufacturing 15.2 15.1 Real estate (0.4) (2.2) Change in Trakcja-Tiltra stock price - (59.3) IT infrastructure sector (0.9) (0.7) Facilities management 0.3 1.
Slide 22: Furniture manufacturing (Vilniaus Baldai AB) (1)
Furniture manufacturing (Vilniaus baldai AB) (1) mLTL 2010 9 months 2011 9 months Change Change, % Sales 141.6 179.4 37.8 26.7 EBITDA 29.1 28.3 (0.8) (2.7) Net profit 21.1 20.9 (0.2) (0.9) Capitalization 87.6 126.1 38.5 43.9 Shares of Vilniaus Baldai are listed on NASDAQ OMX Vilnius stock exchange.
Slide 23: Furniture manufacturing (Vilniaus Baldai AB) (2)
Furniture manufacturing (Vilniaus Baldai AB) (2) Trends Increased sales offset the decline in The company generated stable cash margins on the rising prices of raw flows from its activities. materials. 15.5 mLTL (4.5 mEUR) allocated for dividends, which is 4 LTL (1.2 EUR) per share. Furniture manufa
Slide 24: Real estate sector (1)
Real estate sector (1) 2010 2011 mLTL 9 months 9 months Value of real estate 247.4 260.7 100.4 133.3 Shareholders’ equity (incl. loans from Invalda) Loans from credit institutions 142.8 119.7 Rent income 13.7 12.5 Valuation is from this owned by clients 3.9 3.7 made at the end of the Change of the r
Slide 25: Real estate sector (2)
Real estate sector (2) Trends Companies merged into Inreal A company Inreal GEO, which will brand family and updated it (along provide cadastral measurements with facility management sector). services, was established. New construction of 17 flats apartment in Vilnius, Valakampiai district, was laun
Slide 26: Information technology sector (1)
Information technology sector (1) Consolidated results of BAIP Group 2010 2011 Change, mLTL 9 months 9 months mLTL Sales 17.3 19.3 2.0 Net profit before investments amortization and (0.05) (0.4) (0.35) management costs of options Net profit (1.1) (0.9) 0.2 Eevents: 100 percent shares of BAIP designe
Slide 27: Information technology sector (2)
Information technology sector (2) Changed names of the companies, 2011. BAIP Group and BAIP changed their names and logos (before that BAIP Group was called Positor and BAIP - Baltic Amadeus Infrastrukturos Paslaugos). This change is a planned action by which one of the provisions of company acquisi
Slide 28: Rail and road infrastructure (1)
Rail and road infrastructure (1) Trakcja - Tiltra shares are listed on Warsaw Stock Exchange. 6 4500 4000 5 3500 4 3000 2500 3 2000 2 1500 1000 1 500 0 0 30.09.2010 05.11.2010 13.12.2010 19.01.2011 23.02.2011 30.03.2011 09.05.2011 13.06.2011 19.07.2011 24.08.2011 28.09.2011 Turnover (thPLN) Price TR
Slide 29: Rail and road infrastructure (2)
Rail and road infrastructure (2) Results Revenues of Trakcja – Tiltra during At the end of the third quarter the nine months were 1.395 billion group orders portfolio amounted to PLN and the net profit was 14.8 4.366 billion PLN. million PLN. Invalda owns 12.5 percent Trakcja - Tiltra shares which a
Slide 30: Facility management sector (1)
Facility management sector (1) Sector’s results From 1 quarter 2011 facility The group management sector is didn’t own determined as separate Priemiestis and sector in the financial Jurita during statements of Invalda. the 9 months of 2010. 2010 2011 Change mLTL 9 months 9 months Sales 5.4 7.2 1.8 E
Slide 31: Facility management sector (2)
Facility management sector (2) Main events In August 2011 Jurita company, Invalda Service changed its name to supervising houses in Justiniskes, Inreal Pastatu Prieziura - at the same was acquired for 2.5 mLTL (0.7 time the company joined a renewed mEUR) from Vilnius City Inreal brand family. Inreal
Slide 32: Disclaimer
Disclaimer The presentation was prepared by Invalda AB. The following information was used for the preparation: Consolidated and Company’s financial statements of Invalda for 9 months of 2010; Consolidated and Company’s financial statements of Invalda for 9 months of 2011. Data provided here is for
Slide 33: Thank you!
Thank you!