Slide 1: The results of Invalda AB group for 2012
The results of Invalda AB group for 2012 Vilnius, April 8, 2013
Slide 2: What is Invalda AB?
What is Invalda AB? Invalda AB is one of the largest Lithuanian investment companies whose primary objective is to steadily increase the investor equity value Invalda AB actively manages its investments, exercising control or significant influence over target businesses. More about businesses manage
Slide 3: Management principles
Management principles Invalda AB follows these principles: Competitiveness and independence Each business of the Group must be competitive and self-sustainable, have professional management teams capable of forming business strategy and implementing ambitious objectives. Risk segregation Invalda AB
Slide 4: Investment philosophy
Investment philosophy Invalda AB is a company driven by shareholder value creation Invalda AB seeks to acquire competitive businesses that, with additional capital or management resources, may successfully be developed organically, consolidate fragmented markets or otherwise increase value. Invalda
Slide 5: Invalda AB Group activity sectors
Invalda AB Group activity sectors 5
Slide 6: Shareholder structure
Shareholder structure Other shareholders 22,29% Vytautas Bucas Algirdas Bucas 15,83% 8,18% RB Finansai UAB 6,33% Darius Sulnis 7,69% Alvydas Banys and related persons 8,27% Lucrum Investicija Irena Ona UAB Miseikiene 7,41% 24,00% Votes for the announcement day as of December 31, 2012
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 company Arthur Andersen where he started as an auditor’s a
Slide 8: Management
Management Indre Miseikyte – Member of the Board (from April 30, 2012) Indre Miseikyte has graduated architecture studies in Vilnius Gediminas technical university. From 1994 till 1996 she worked in Vilniaus Baldai AB, late – in real estate and investment companies Gildeta UAB, Kremi UAB and Invalda
Slide 9: The shares of Invalda AB
The shares of Invalda AB Total number of 51,802,146 (shares) Capitalization, m EUR securities 130,93 132,10 122,77 Total number of 46,621,932 (votes) 100,37 102,05 votes Nominal (par) value 1 litas ISIN LT0000102279 Name IVL1L 30.12.2011 31.03.2012 30.06.2012 30.09.2012 31.12.2012 Exchange NASDAQ OM
Slide 10: Trading in shares
Trading in shares Turnover (€) IVL1L change (%) OMXV change (%) OMX Baltic Financials GI change (%) DJStoxxEUTMI change (%) 100,00 350.000,00 80,00 300.000,00 60,00 40,00 250.000,00 Change (%) Turnover, € 20,00 200.000,00 0,00 150.000,00 -20,00 -40,00 100.000,00 -60,00 50.000,00 -80,00 -100,00 0,00
Slide 11: Financial results
Financial results
Slide 12: Key events of 2012
Key events of 2012 The Extraordinary General Shareholders Meeting of Invalda AB of November 20, 2012 approved drawing up of the terms of Invalda AB split-off and authorized the Board to prepare the terms of split-off of the Company. On August 6, 2012, the share capital of Invalda AB was reduced from
Slide 13: Significant events since the end of the last financial year (1)
Significant events since the end of the last financial year (1) On February 13, 2013 the Board of Invalda AB finished the drawing – up of the Company‘s split – off terms and initiated a share buy – back program for acquisition of up to 10 percent of the treasury shares. According to the publicly ann
Slide 14: Significant events since the end of the last financial year (2)
Significant events since the end of the last financial year (2) On March 8, 2013, after the settlement of the shares acquired by Invalda AB during the share buy – back program within the time period from February 19, 2013 till March 5, 2013, the Company acquired 5,180,214 shares that constitutes 10
Slide 15: Activity results of Invalda AB
Activity results of Invalda AB Consolidated Parent company million litas 2012 2011 2012 2011 Assets 589.9 646.4 372.2 399.0 Equity 416.2 415.3 360.6 360.7 detailed on slide 16 Liabilities 173.7 231.1 11.6 38.2 Profit (loss) for the 32.0 216.5 20.9 274.9 period Attributable to equity holders of 24.7
Slide 16: Equity and liabilities
Equity and liabilities Invalda AB, million litas 2012 2011 Equity 360.6 360.7 Liabilities to financial institutions - - of which are long term - - Liabilities to group companies 9.1 0.4 Bonds - 34.1 Other liabilities 2.5 3.8 Total liabilities 11.6 38.3 Total equity and liabilities 372.2 399. 399 . 0
Slide 17: Invalda AB assets according to standalone financial statements
Invalda AB assets according to standalone financial statements (book value) Book value Asset December 31, 2012, Description million litas 72.14 percent stake of Vilniaus Baldai AB, the share Furniture manufacturing 13.9 value on December 31, 2012 in NASDAQ OMX Vilnius is 137.4 million litas (€39.8 m
Slide 18: Results
Results Impact to the profit (loss) statement of Invalda AB due to group sectors and financial investments million litas 2012 2011 19.4 19.3 Furniture manufacturing Real estate (11.0) (17.8) Facilities management (0.3) 1.03 Agricultural 8.7 - Information technology infrastructure (0.9) (0.7) sector
Slide 19: Furniture manufacturing (1)
Furniture manufacturing (1) million litas 2012 2011 Change Change, % Sales 230.1 238.4 (8.3) (3.5) EBITDA 34.8 36.1 (1.3) (3.6) Net profit 26.8 26.8 - - Capitalization 190.5 138.2 52.3 37.8 Number of employees 464 507 (43) (8.5) Shares of Vilniaus Baldai AB are listed on NASDAQ OMX Vilnius stock exc
Slide 20: Furniture manufacturing (2)
Furniture manufacturing (2) Main events In 2012, sales of Vilniaus Baldai AB amounted to 230.14 million litas (€66.65 million) or 3.5 percent less than in 2011 (238.37 million litas (€69.04 million)). EBITDA reached 34.78 million litas (€10.07 million) (in 2011 - 36.10 million litas(€10.46 million))
Slide 21: Real estate sector (consolidated data) (1)
Real estate sector (consolidated data) (1) million litas 2012 2011 Change Change, % Value of real estate 243.8 255.4 (11.6) (4.5) Commercial real estate 148.2 155.6 (7.4) (4.8) Real estate for development 36.8 57.1 (20.3) (35.6) Residential real estate 17.0 7.9 9.1 115 Agricultural land 41.8 34.8 7.
Slide 22: Real estate sector (2)
Real estate sector (2) Main events The companies of real estate sector of Invalda AB incurred a 11.0 million litas (€3.2 million) loss during 2012. The majority of this loss was caused by the revaluation of investment property of 8.7 million litas (€2.5 million). The loss of 2011 amounted to 17.9 mi
Slide 23: Facility management sector (1)
Facility management sector (1) Sector’s results million litas 2012 2011 Change Change,% Sales 13.1 10.7 2.4 24.4 EBITDA 0.4 0.9 (0.5) (55.6) Net profit (0.3) 1.0 (1.3) - Number of employees 231 167 64 38.3 From the first quarter of 2011 facility management sector is recognized as a separate sector i
Slide 24: Facility management sector (2)
Facility management sector (2) Main events Building maintenance sector companies focused on the development and quality improvement of their services in 2012. Due to larger operating costs the results were poor, but in the long period the group competitive advantages should strengthen and this will
Slide 25: Agricultural sector (1)
Agricultural sector (1)) Activity of Litagra UAB group The companies of Litagra UAB group are engaged in the primary crop and livestock (milk) production, grain processing and agricultural services. Group companies trade in plant protection products, fertilizers, seeds, compound feed, feed supplemen
Slide 26: Agricultural sector (2)
Agricultural sector (2)) Sector’s results In 2012, compared with the same period in 2011, an income grew by 34.9 percent, to 429.2 million litas (€124.3 million); earnings before interest, taxes, depreciation and amortization (EBITDA) – grew by 85.4 percent to 36.9 million litas (€10.69 million), ne
Slide 27: Information technology sector (1)
Information technology sector (1) Consolidated results of BAIP Group¹ UAB million litas 2012 2011 Change Change, % Sales 40.8 34.5 6.3 18.3 EBITDA 2.7 3.2 (0.5) (15.6) Net profit before investment (0.1) 1.1 (1.2) - amortization2 and cost of management options Net profit (1.1) (0.7) (0.4) - Number of
Slide 28: Information technology sector (2)
Information technology sector (2) Main events BAIP UAB implemented information technology services management standard and was granted with ISO20000 certificate. Furthermore, BAIP UAB entered into agreement on supply of Dell End-to-End Enterprise and Client Solutions to all European offices of the c
Slide 29: 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 AB for 12 months of 2012; Data provided here is for information purposes only. The information provided here is not a
Slide 30: Thank you!
Thank you!