Invalda Invl Ab · OMXVSE:IVL1L
Invalda Invl Ab — Invalda LT — Q1 2014 Earnings Presentation
35 slides from Invalda Invl Ab's earnings presentation, May 30, 2014
Slide 1: Invalda LT, AB results for 3 months of 2014
Invalda LT, AB results for 3 months of 2014 Vilnius, 30 May 2014
Slide 2: About the company
/ About the company / ~ fees
Slide 3: What is Invalda LT, AB?
What is Invalda LT, AB? • Invalda LT, AB started its activity in 1991 as an investment stock company Invalda. • At present Invalda LT, AB is one of the major Lithuanian investment companies. • Company’s equities have been traded on the NASDAQ OMX Vilnius Exchange since 1995. • Company seeks to becom
Slide 4: The main sectors of Invalda LT, AB
The main sectors of Invalda LT, AB 31 March 2014 30 May 2014 • Major part of Invalda LT group assets was concentrated in Lithuania, and the key entities operated in the furniture manufacturing, real estate, agricultural land, agriculture, information technology (IT) infrastructure, facility manageme
Slide 5: Shareholders structure
Shareholders structure Votes of shareholders of Invalda LT, AB Note: Owned amount of votes as of 31 March 2014 and after the split- off have not changed. 5
Slide 6: Management
Management Alvydas Banys – Chairman of the Board After graduating from Vilnius Gediminas Technical University Alvydas Banys worked as a Jr. Scientific Co-worker at the Economics' Institute of Lithuania‘s Science Academy. In 1996 - 2006 he held the position of Vice President. He served as the Member
Slide 7: Invalda LT, AB shares
Invalda LT, AB shares Data as of 31 March 2014 Data as of 30 May 2014 Shares issued, units 24,833,551 11,865,993 Shares with voting rights, units 22,797,297 11,865,993 Nominal value, LTL 1 1 Total nominal value, LTL 24,833,551 11,865,993 ISIN code LT0000102279 Name IVL1L Exchange NASDAQ OMX Vilnius
Slide 8: Trading in Invalda LT, AB shares (1)
Trading in Invalda LT, AB shares (1) 3 months of 2012 3 months of 2013 3 months of 2014 Share price, EUR - open 1.930 1.970 3.380 - high 2.280 2.340 3.490 - low 1.871 1.960 2.930 - medium 2.070 2.216 3.280 - last 2.274 2.310 3.140 Turnover, units 670,763 1,544,840 38,533 Turnover, EUR 1,373,700.95 3
Slide 9: Trading in Invalda LT, AB shares (2)
Trading in Invalda LT, AB shares (2) • OMX index is an all-share index which includes all the shares listed on the Main and Secondary lists on the NASDAQ OMX Vilnius with exception of the shares of the companies where a single shareholder controls at least 90% of the outstanding shares. The OMX Balt
Slide 10: Invalda LT, AB capitalization
Invalda LT, AB capitalization *The authorised capital was reduced due to the split-off of the company in May 2013. 10
Slide 11: Reorganization of activity
Key events Reorganization of activity • On 21 March 2014 Invalda LT informed about drawn - up split-off terms of the public joint - stock company Invalda LT. According to the terms, three companies INVL Baltic Farmland, INVL Baltic Real Estate and INVL Technology, on the moment of the announcement c
Slide 12: Planned asset management activity
Key events Planned asset management activity • On 27 February 2014 Invalda LT established the company Invalda LT Investments, that seeks to receive asset management company license issued by the Bank of Lithuania. • Alvydas Banys, the Chairman of the Board of Invalda LT, Darius Šulnis and Raimondas
Slide 13: Recent deals
Key events Recent deals • Invalda LT completed transactions regarding sale of 45.4 % stake in Vilniaus Baldai on 28 May 2014. • For the amount of LTL 24.124 million (EUR 6.987 million) Invalda LT purchased 45.45% shares in Cedus Invest from Invalda Privatus Kapitalas and increased owned stake in Ced
Slide 14: Financial results of the company and its group
Financial results of the company and its group
Slide 15: Activity Results of Invalda LT, AB
Activity Results of Invalda LT, AB Parent company Consolidated 3 months of 3 months of 3 months of 3 months 3 months of 3 months of million litas 2012 2013 2014 of 2012 2013 2014 Assets 414.4 327.5 176.9 667.9 539.3 367.1 Equity 410.3 317.2 161 472.3 374.7 222.0 Liabilities 4.1 10.3 15.9 195.6 164.6
Slide 16: Equity and liabilities
Equity and liabilities million litas 3 months of 2012 3 months of 2013 3 months of 2014 Equity 410.3 317.2 161.0 Liabilities to financial institutions - - 8.7 from this long term - - - Liabilities to group companies 0.4 8.0 4.6 Bonds - - - Other liabilities 3.7 2.3 2.6 Total liabilities 4.1 10.3 15.
Slide 17: Results
Results Impact to the profit (loss) statement due to group sectors and financial investments million litas 3 months of 2012 3 months of 2013 3 months of 2014 Furniture manufacturing sector 4.4 2.3 1.6 Real estate sector 0.3 (0.5) 0.7 Agricultural land sector (0.1) (0.1) 0.0 Agriculture sector 0.6 (0
Slide 18: Group results
/ Group results / ~ fees
Slide 19: Furniture manufacturing sector (1)
Furniture manufacturing sector (1) 45.4 %* Investment date Activity Place of the residence Manager Vilniaus Baldai, AB 1994–1995 Furniture Lithuania Rimantas Vaitkus (since 12 May 2014) manufacturing Dalius Aleksandravičius (since 6 January 2014) Aidas Mackevičius (until 6 January 2014) * On 31 Marc
Slide 20: Furniture manufacturing sector (2)
Furniture manufacturing sector (2) million litas 3 months of 2013 3 months of 2014 Change Change, % Sales 35.1 52.9 17.8 50.7 EBITDA 4.8 7.3 2.5 52.1 Net profit 3.2 5.5 2.3 71.9 Capitalization 218.7 191.9 (26.8) (12.3) • More information about company’s activities and results are provided on www.vil
Slide 21: Real estate sector (1)
Real estate sector (1) INTF Investicija, Rovelija, UAB Sago, UAB UAB Investment date Activity Place of the residence Manager Invaldos Nekilnojamojo Turto Fondas, 1997 Investments into Lithuania Gediminas Bronislovas AB commercial rental real Rimkevicius estate INTF Investicija, UAB 2007 Investments
Slide 22: Real estate sector (2)
Real estate sector (2) million litas 3 months of 2013 3 months of 2014 Change Change, % Value of commercial real estate 202.1 145.4 (56.7) (28.1) Shareholders’ equity (incl. loans 109.7 47.2 (62.5) (57) from Invalda LT, AB) Loans from credit institutions 99.9 93.3 (6.6) (6.6) Rental income 4.0 4.0 -
Slide 23: Agricultural land sector (1)
Agricultural land sector (1) Avizele, UAB Laukaitis, UAB Vasarojus, UAB Berzyte, UAB Lauknesys, UAB Zalve, UAB Dirvolika, UAB Linaziede, UAB Zemgale, UAB Duonis, UAB Pusaitis, UAB Zemynele, UAB Ekotra, UAB Puskaitis, UAB Ziemkentys, UAB Kvietukas, UAB Seja, UAB Investment date Activity Place of the
Slide 24: Agricultural land sector (2)
Agricultural land sector (2) 3 months of 3 months of Change Change, % 2013 2014 Value of agricultural land, LTL million 42.2 37.0 (5.2) (12.3) Shareholders’ equity (incl. loans from Invalda 42.3 34.5 (7.8) (18.4) LT, AB), LTL million Rental income, LTL million 0.4 0.3 (0.1) (25) Result of the agricu
Slide 25: Agriculture sector (1)
Agriculture sector (1) 20.1%* Litagros Prekybos Centras, UAB Litagros Grudu Centras, UAB Litagros Zemes Ukio Centras, UAB Litagros Grudai, UAB, Litagros Prekyba, UAB, Aristavos Ukis, UAB, Sesupes Ukis, UAB, Bausu SIA Litagra (Latvia), Litagra OU (Estonia) Joniskio Grudai, UAB, Kedainiu Grudai, ukis,
Slide 26: Agriculture sector (2)
Agriculture sector (2) million litas 3 months of 2013 3 months of 2014 Change Change, % Sales 72.3 67.0 (5.3) (7.3) EBITDA 3.7 2.7 (1.0) (27) Net result, according to the 0.8 (0.3) (1.1) - data provided by the company • More information on the services and activity of the sector is provided on www.l
Slide 27: Information technology sector (1)
Information technology sector (1) 80% 70% 76.5% Investment date Activity Place of the residence Manager BAIP Grupe, UAB 2007 December Investments into information technology (IT) companies Lithuania Kazimieras Tonkunas BAIP, UAB IT infrastructure solutions. IT security consultations. IT Lithuania Gy
Slide 28: Information technology sector (2)
Information technology sector (2) million litas 3 months of 2013 3 months of 2014 Change Change, % Sales 8.7 10.1 1.4 16.1 EBITDA 0.6 1.1 0.5 83.3 Net profit 0.0 0.3 0.3 - Note: Desciption and results of the information technology sector represent the data as of 31 March 2014. After completion of th
Slide 29: Facility management sector (1)
Facility management sector (1) Naujosios Vilnios Turgaviete, UAB Investment date Activity Place of the residence Manager Inservis, UAB 1994 Facility management, engineering Lithuania Rimvydas Ramanauskas systems oversight and incidents management, multi-apartment house management Jurita, UAB 2011 Fa
Slide 30: Facility management sector (2)
Facility management sector (2) million litas 3 months of 2013 3 months of 2014 Change Change, % Sales 3.2 4.5 1.3 40.6 EBITDA 0.0 0.7 0.7 - Net profit (0.2) 0.4 0.6 - • More information about services and activity is provided on the web pages www.inservis.lt; www.jurita.lt; www.priemiestis.lt 30
Slide 31: Company events after the reporting period
Company events after the reporting period
Slide 32: Reorganisation of the company (1)
Reorganisation of the company (1) • Reorganisation of Invalda LT, AB was completed on 29 April 2014. Three newly established companies INVL Baltic Farmland, INVL Baltic Real Estate and INVL Technology operate in the market. • Newly established companies will apply for closed-end investment company l
Slide 33: Reorganization of the company (2)
Reorganization of the company (2) • Shares of the newly established companies will to be quoted on the NASDAQ OMX Vilnius Exchange since 4 June. • The shareholders of Invalda LT proportionally to their owned amount of shares participate in the capital of the new companies. – 52.05 % of owned shares
Slide 34: Assets of Invalda LT
Assets of Invalda LT Assets LTL million Description Investment into asset management business 1.4 Shares in Invalda LT Investments Other investments 79.1 According to the last deal value of Litagra shares equals to LTL − Investment into Litagra, carrying amount 45.6 53.1 million − Loans to companies
Slide 35: Disclaimer
Disclaimer • The presentation was prepared by Invalda LT, AB. • Preliminary consolidated and company’s financial statements of Invalda LT, AB for 3 months of 2014 were used in the presentation. • Data provided here is for information purposes only. • The information provided here is not a recommenda