Slide 1: Preliminary results of Invalda AB group for 12 months of 2010
Preliminary results of Invalda AB group for 12 months of 2010 Vilnius, 28 February 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 31-12-2010 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: Turnover
Trading in shares 80 1400000 60 1200000 40 1000000 20 Change (%) 800000 Turnover 0 -20 600000 -40 400000 -60 200000 -80 -100 0 02.01.2006 01.03.2006 03.05.2006 30.06.2006 29.08.2006 26.10.2006 27.12.2006 26.02.2007 26.04.2007 26.06.2007 23.08.2007 22.10.2007 19.12.2007 22.02.2008 24.04.2008 26.06.20
Slide 10: Financial results
Financial results
Slide 11: Key events of 2010
Key events of 2010 Financial liabilities were reduced and rearranged. After conversion of a bond issue, Banking liabilities portfolio was equity of Invalda increased by rearranged, most of the debts LTL 50 m. converting into long-term. Merger of activities, purchase and sale transactions in the grou
Slide 12: Activity results of Invalda AB
Activity results of Invalda AB Consolidated Parent company mLTL 2009 2010 2009 2010 Assets 610.1 596.0 306.8 307.0 detailed in 13 slide Equity 91.7 198.9 46.3 85.9 detailed in 14 slide Liabilities 518.4 397.1 260.5 221.1 Profit (loss) for the (85.7) 50.7 (121.8) (10.5) period Attributable to equity
Slide 13: Company assets (book value)
Company assets (book value) Invalda AB, mLTL 31-12-2009 31-12-2010 Description of assets as of 12-31-2010 26.5 per cent stake in Sanitas AB and loans to Investments in Sanitas 119.6 111.9 the company Investments in road 43.3 per cent stake in Kauno Tiltai AB and construction 25 25 44.8 per cent stak
Slide 14: Equity and liabilities
Equity and liabilities Invalda AB, mLTL 2009 2010 Equity 46.3 85.9 Liabilities to financial institutions 147.4 138.7 from this long term 0 94.3 Liabilities to group companies 19.8 46.6 Bonds 83.1 32.4 Other liabilities 10.2 3.4 Total liabilities 260.5 221.1 Total equity and liabilities 306. 306 . 8
Slide 15: Preliminary results by sectors
Preliminary results by sectors Effect of the group’s sectors on the profit (loss) statement of Invalda Part of net profit (loss) attributable to mLTL 2009 2010 Invalda calculated in proportion to capital Pharmaceuticals 4.7 14.1 held by Invalda, Road construction 13.3 10.1 applying equity accounting
Slide 16: Pharmaceuticals sector (Sanitas AB) (1)
Pharmaceuticals sector (Sanitas AB) (1) 2009 mLTL 2010 mLTL Change, mLTL Change % Sales 322.7 339.4 16.7 5.18 Net profit 17.8 53.3 35.5 199.44 Capitalization 296.4 590.3 293.9 99.16 Sanitas’ shares are listed on NASDAQ OMX Vilnius stock exchange. Turnover and price of Sanitas’ shares, EUR 7 450000 6
Slide 17: Pharmaceuticals sector (Sanitas AB) (2)
Pharmaceuticals sector (Sanitas AB) (2) Events and trends in 2010: In July 2010, Sanitas sold Sanitas continued The sale of own HBM Pharma (previous name concentrating on the products increased in – Hoechst-Biotika) engaged sale of own products. all largest markets of in contractual manufacturing th
Slide 18: Road and bridge construction
Road and bridge construction Trakcja Polska and Tiltra Group signed a merger agreement. In November 2010 it was Total amount of the The part of Invalda before announced about the deal - 777.536 mPLN. the expenses related to the activities merger of Tiltra deal - 314.1 mPLN. Group and the Polish rail
Slide 19: Furniture manufacturing (Vilniaus Baldai AB) (1)
Furniture manufacturing (Vilniaus Baldai AB) (1) 2009 mLTL 2010 mLTL Change, mLTL Change, % Sales 149 197 48 32.2 Net profit 15.6 27.8 12.2 78.2 Capitalization 35 127.5 92.5 264.29 Shares of Vilniaus Baldai are listed on NASDAQ OMX Vilnius stock exchange. Turnover and price of Vilniaus Baldai shares
Slide 20: Furniture manufacturing (Vilniaus Baldai AB) (2)
Furniture manufacturing (Vilniaus Baldai AB) (2) 2010 events: In 2010 Vilniaus Baldai The company generated From July new CEO of achieved the best results in stable cash flows from its the company is Aidas the company’s history. activities. Mackevicius. Seeking to ensure effective A trend of the pri
Slide 21: Real estate sector (1)
Real estate sector (1) Excluding mLTL 2009 2010 companies Value of real estate 251.5 248.5 that were sold Shareholders’ equity (incl. loans from Invalda) 113.5 114.1 in 2010. Loans from credit institutions 145.2 144.0 Rent income 20.5 18.4 from this owned by clients 5.4 5.2 Change of the real estate
Slide 22: Real estate sector (2)
Real estate sector (2) Changes and trends in 2010: In 2010 exited from Decrease of the proceeds Companies generated economically unreasoned from rent stabilised. positive cash flows from the projects. activities. Change of the investment Apartments sold (in Nida Activities in the field of a property
Slide 23: Information technology sector (1)
Information technology sector (1) Consolidated results of BAIP Group Change, mLTL 2009 2010 mTL Sales 25.5 27.7 2.2 Net profit before investment amortisation (0.2) 0.7 0.9 and share based payment expenses. Net profit (1.6) (0.7) 0.9 23
Slide 24: Information technology sector (2)
Information technology technology sector (2) (2) 2010 events: BAIP group actively worked Active development In developing industry and in banking and financial abroad: various projects economy digitizing enterprises sector by and social initiatives initiative, BAIP group delivering equipment have be
Slide 25: Information technology sector (3)
Information technology sector (3) 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 26: Other events
Other events After the capital increase the stake owned by Invalda declined and didn’t let to influence the management, therefore shares of Agrowill Group were sold on the stock exchange. In the beginning of 2011 a 51% stake of Lauko Gelininkystes Bandymu Stotis was acquired from the State Property
Slide 27: 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 the year 2010; Audited consolidated and Company’s financial statements of Invalda for year 2009. Data provided he
Slide 28: Thank you!
Thank you!