Slide 1: Preliminary results of Invalda AB group for 3 months of 2011
Preliminary results of Invalda AB group for 3 months of 2011 2011 Vilnius, 31 May 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 objectives. Invalda seeks to acquire Investing into Invalda doesn’t avoid any competitive businesses that, undervalued assets that, complex business opportunities. with an influx of additional when restructured, may Th
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 31-03-2011 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 (%) 230 300000 250000 180 200000 Turnover (EUR) Change (%) 130 150000 80 100000 30 50000 -20 0 31.03.2010 15.04.2010 28.04.2010 11.05.2010 25.05.2010 07.06.2010 18.06.2010 02.07.
Slide 10: Financial results
Financial results
Slide 11: Key events
Key events On 23 May 2011 an agreement for the sale of shareholding in AB Sanitas to Valeant Pharmaceuticals International, Inc. was signed. Invalda will sell 26.5% shareholdings The share sale and purchase agreement in AB Sanitas, in exchange of EUR includes the mechanism of the possible 82.5-84 mi
Slide 12: Key events
Key events In April a merger of Trakcja Polska and Tiltra Group completed Invalda sold 44.8 percent Preliminary positive Proceedings paid to stake in Tiltra Group and result in consolidated Invalda AB for shares in 43.4 per cent stake in financial statements of Tiltra Group AB and Kauno Tiltai AB fo
Slide 13: Other events
Other events New companies joined the group during I quarter. Group company from the A company Inreal GEO, A new facility Sate Property Fund which will provide management sector, acquired 51 percent of land geodetic which includes Invalda Lauko Gelininkystes measurements services, Service UAB and Ba
Slide 14: Activity results of Invalda AB
Activity results of Invalda AB Consolidated Parent company mLTL 2010 Q1 2011 Q1 2010 Q1 2011 Q1 Assets 572.1 611.3 316.6 310.9 Equity 151.4 208.9 94.8 84.8 detailed in 15 slide Liabilities 420.7 402.5 221.8 226.1 Profit (loss) for the 2.6 8.2 -1.5 -1.0 period Attributable to equity holders of the pa
Slide 15: Equity and liabilities
Equity and liabilities Invalda AB, mLTL 2010 Q1 2011 Q1 Equity 94.8 84.8 Liabilities to financial institutions 144.8 138.9 from this long term 118.9 94.1 Liabilities to group companies 32.5 51.3 Bonds 35.9 32.4 Other liabilities 8.6 3.5 Total liabilities 221.8 226.1 Total equity and liabilities 316.
Slide 16: Preliminary results by sectors
Preliminary results by sectors Effect of the group’s sectors on the profit (loss) statement of Invalda mLTL 2010 Q1 2011 Q1 Part of net profit Pharmaceuticals 4.0 4.2 Since the road (loss) construction Road construction -6.4 - attributable to sector was Invalda Real estate -1.3 0.3 classified as hel
Slide 17: Pharmaceuticals sector (Sanitas AB) (1)
Pharmaceuticals sector (Sanitas AB) (1) 2010 Q1 mLTL 2011 Q1 mLTL Change, mLTL Change % Sales 80.2 89.7 9.5 11.8 Net profit 15.2 15.7 0.5 3.3 Capitalization 406.9 553 146.1 35.9 Sanitas’ shares are listed on NASDAQ OMX Vilnius stock exchange. Turnover and price of Sanitas’ shares, EUR 6 180000 16000
Slide 18: Pharmaceuticals sector (Sanitas AB) (2)
Pharmaceuticals sector (Sanitas AB) (2) The main event An agreement for the sale of Enterprise value – The closing is expected 87.2 percent shareholding in 365 mEUR, share to take place no later AB Sanitas to Valeant value – 315 mEUR. that 30 September Pharmaceuticals 2011. International, Inc. was s
Slide 19: Road and bridge construction (1)
Road and bridge construction (1) A merger of Trakcja Polska and Tiltra Group completed. In November 2010 it was announced Total amount of the deal - 777.536 about the activities merger of Tiltra mPLN. Group and the Polish railway The part of Invalda before the expenses infrastructure construction ma
Slide 20: Road and bridge construction (2)
Road and bridge construction (2) Proceedings paid to Invalda During the financial year During the financial year might be reduced by not which ended in 31 March which ends in 31 March more than 60.6 mPLN, 2011, Tiltra Group had to 2012, Tiltra Group has to depending on the financial achieve 109 mPLN
Slide 21: Furniture manufacturing (Vilniaus Baldai AB) (1)
Furniture manufacturing (Vilniaus Baldai AB) (1) 2010 Q1 mLTL 2011 Q1 mLTL Change, mLTL Change, % Sales 43.2 56.6 13.4 31 EBITDA 9.8 9.2 -0.6 -6 Net profit 7 6.9 -0.1 -1 Capitalization 58.3 128.8 70.5 121 Shares of Vilniaus Baldai are listed on NASDAQ OMX Vilnius stock exchange. Turnover and price o
Slide 22: 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 allocated for dividends, which is 4 LTL per share. Furniture manufacturing sector of Inv
Slide 23: Real estate sector (1)
Real estate sector (1) Excluding mLTL 2010 Q1 2011 Q1 companies Value of real estate 251.2 249.6 that were sold Shareholders’ equity (incl. loans from Invalda) 119.1 118.9 in 2010. Loans from credit institutions 144.3 141.1 Rent income 4.7 4.2 from this owned by clients 1.3 1.2 Valuation is made at
Slide 24: Real estate sector (2)
Real estate sector (2) Trends Rental income decreased during the year, New construction of 17 flats apartment but a trend of stabilization is observed if in Vilnius, Valakampiai district, was compared the first quarter of 2011 to the launched. fourth quarter of 2010. Established company Inreal GEO,
Slide 25: Facility management sector
Facility management sector Aggregated results of Invalda Service and Priemiestis From 1 quarter 2011 facility The group didn’t management sector is determined as own Priemiestis separate sector in the financial in 1Q of 2010 statements of Invalda. Change, mln. Lt 2010 Q1 2011 Q1 mTL Sales 1.4 2.3 0.
Slide 26: Information technology sector (1)
Information technology sector (1) Consolidated results of BAIP Group Change, mLTL 2009 2010 mTL Sales 2.8 8.4 5.6 Net profit before investment amortisation (0.8) (0.1) 0.7 and share based payment expenses. Net profit (1.2) (0.3) 0.9 2011 events: A loss was suffered in the BAIP together with BAIP des
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: Disclaimer
Disclaimer The presentation was prepared by Invalda AB. The following information was used for the preparation: Preliminary consolidated and Company’s financial statements of Invalda for 3 months of 2010; Preliminary consolidated and Company’s financial statements of Invalda for 3 months of 2011. Da
Slide 29: Thank you!
Thank you!