Slide 1: Preliminary results of Invalda LT, AB group for 9 months of 2013
Preliminary results of Invalda LT, AB group for 9 months of 2013 Vilnius, 29 November 2013
Slide 2: What is Invalda LT, AB?
What is Invalda LT, AB? • Invalda LT, AB is one of the major Lithuanian investment companies whose primary objective is to steadily increase the investor equity value. For the purpose of attainment of this objective Invalda LT, AB actively manages its investments, exercising control or significant i
Slide 3: Management principles
Management principles Invalda LT, AB is proactively managing its investment guided by the following principles: • Competitiveness and independence. Each business of the Group must be competitive and self- sufficient, have professional teams and top managers capable of creating business vision and im
Slide 4: Investment philosophy
Investment philosophy • Invalda LT, AB is driven by shareholders value creation objectives. Invalda LT, AB seeks to acquire competitive businesses that, with an influx of additional capital or management resources, may successfully further develop organically, consolidate fragmented markets or provi
Slide 5: The main sectors of Invalda LT, AB
The main sectors of Invalda LT, AB 5
Slide 6: Shareholders structure (1)
Shareholders structure (1) Votes of shareholders of Invalda LT, AB as of 30 September 2013 6
Slide 7: Shareholders structure (2)
Shareholders structure (2) Votes of shareholders of Invalda LT, AB as 10 October 2013 7
Slide 8: 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 Economic‘s Institute of Lithuania‘s Science Academy. In 1996 - 2006 he held the position of Vice President and served as the Member
Slide 9: Invalda LT, AB shares
Invalda LT, AB shares ISIN code LT0000102279 Name IVL1L Exchange NASDAQ OMX Vilnius List Baltic Main List (since 1 January 2008) Listing date 19 December 1995 Shares issued, units 24,833,551 Shares with voting rights 22,990,998 from 10 October 2013, units Nominal value, LTL 1 Total nominal value, LT
Slide 10: Trading in Invalda LT, AB shares (1)
Trading in Invalda LT, AB shares (1) 9 months of 9 months of 9 months of 2011 2012 2013 Share price, EUR - open 2.000 1.930 1.970 - high 2.650 2.940 2.950 - low 1.750 1.870 1.960 - last 1.947 2.370 2.830 Turnover, units 3,450,286 1,891,746 2,086,971 Turnover, EUR 7,176,682 4,597,133 4,798,901 Traded
Slide 11: 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 Baltic
Slide 12: Activity results and key events
Activity results and key events
Slide 13: Key events – Share buy-backs
Key events – Share buy-backs • On 8 March 2013 former Invalda, AB acquired 10 percent of its treasury shares at the total price of LTL 42.928 million (EUR 12.433 million). The share buy-back started on 19 February and it was implemented through the market of the official offer of NASDAQ OMX Vilnius
Slide 14: Key events – the Split-off
Key events – the Split-off • On 9 April 2013 the General shareholders Meeting of Invalda, AB approved split–off terms of the public joint–stock company. In accordance with the split-off terms, a part of Invalda assets has been split–off and on its basis a new public–joint stock company Invalda Priva
Slide 15: Key events – Change of Management
Key events – Change of Management • On 22 May 2013 the Board of Invalda, AB removed Dalius Kaziunas and appointed Mr. Sulnis as the President of Invalda, AB. Mr. Sulnis has already been the president of Invalda, AB in 2006- 2011 • On 28 May 2013 the Board of Invalda LT, AB was elected. Mr. Banys was
Slide 16: Key events - Investments
Key events - Investments • On 1 August 2013 Invalda LT, AB increased its stake in the furniture manufacturer Vilniaus Baldai, AB from 39.4 percent to 45.4 percent. Invalda LT, AB paid EUR 3.496 million (LTL 12.07 million) for 6 percent of shares. 16
Slide 17: Activity Results of Invalda LT, AB
Activity Results of Invalda LT, AB Consolidated Parent company 9 months 9 months 9 months 9 months 9 months 9 months million litas of 2011 of 2012 of 2013 of 2011 of 2012 of 2013 Assets 703.9 589.2 367.4 465.8 376.4 194.6 Equity 436.0 413.4 210.8 384.9 363.8 167.1 Liabilities 267.9 175.8 156.6 80.9
Slide 18: Equity and liabilities
Equity and liabilities million litas 9 months of 2011 9 months of 2012 9 months of 2013 Equity 384.9 363.8 167.1* Liabilities to financial institutions 1.7 - - from this long term - - - Liabilities to Group companies 0.2 10.2 5.8 Bonds 33.2 - - Other liabilities 45.8 2.4 21.7** Total liabilities 80.
Slide 19: Invalda LT, AB assets according to standalone financial statements (book value)
Invalda LT, AB assets according to standalone financial statements (book value) Book value, LTL million Asset Description (30 September 2013) Investment into 45,4 percent stake of Vilniaus Baldai, AB, which at NASDAQ OMX Vilnius was worth LTL 88.3 million Furniture manufacturing 35.5 on 30 September
Slide 20: Results
Results Impact to the profit (loss) statement due to group sectors and financial investments 9 months of 9 months of 9 months of 2012 million litas 2011 2013 Furniture manufacturing 15.1 14.1 4.7 Real estate (2.2) (10.0) (0.3) Agricultural - 9.5 4.5 Information technology infrastructure sector (1.4)
Slide 21: Furniture manufacturing (1)
Furniture manufacturing (1) Shares of Vilniaus Baldai, AB are listed on NASDAQ OMX Vilnius stock exchange. 45.4% • More information about company’s activities and results are provided on www.vilniausbaldai.lt 21
Slide 22: Furniture manufacturing (2)
Furniture manufacturing (2) million litas 9 months of 2011 9 months of 2012 9 months of 2013 Sales 179.4 179.1 121.7 EBITDA 28.3 26.9 16.3 Net profit 20.9 19.5 11.4 Capitalization 126.1 162.4 194.6 • More information about company’s activities and results are provided on www.vilniausbaldai.lt 22
Slide 23: Furniture manufacturing (3)
Furniture manufacturing (3) Key events • The shareholders of one of the largest Lithuanian furniture companies Vilniaus Baldai, AB on 16 September 2013 decided to allocate 34.976 million litas (9 litas per share) for the interim dividends. • Upon completion of mastering the new products and implemen
Slide 24: Real estate sector (1)
/ Real estate sector (1) Companies investing into Commercial Real Estate Companies investing into Agricultural land invaldos Nekilnojamojo Zemynele, UAB LL Ekotra, UAB Turto Fondas, AB INTF Investicija, UAB Dirvolika, UAB Zalve, UAB Rovelija, UAB Seja, UAB rH Linaziede, UAB Kvietukas, UAB oe Puskait
Slide 25: Real estate sector (2)
Real estate sector (2) 9 months of 2011 9 months of 2012 9 months of 2013 Value of commercial real estate 260.7 247.1 168.2 including Agricultural land* 23.9 41.6 23.6 Shareholders’ equity (incl. loans from 133.3 152.9 70.5 Invalda LT, AB) Loans from credit institutions 119.7 102 96.7 Rental income
Slide 26: Real estate sector (3)
Real estate sector (3) Key events • In the real estate sector Invalda LT, AB owns commercial rental real estate and agricultural land. After the completion of the split-off procedure of Invalda, AB, the Company owns 48.5 thousand square meters of own premises in Vilnius and 27.3 thousand square mete
Slide 27: Agriculture sector (1)
Agriculture sector (1) 20.1% Litagros Zemes Ukio Litagros Grudu Litagros Prekybos Centras, UAB Centras, UAB Centras, UAB Companies: Aristavos ZUB, Sesupes Companies: Joniskio Grudai, AB, Companies: Litagros Grudai, UAB, ZUB, Bausu ZUB, Slapaberzes ZUB, Kedainiu Grudai, AB, Marijampoles Litagros Prek
Slide 28: Agriculture sector (2)
Agriculture sector (2) million litas 9 months of 2011 9 months of 2012 9 months of 2013 Sales 271.6 301.7 308.7 EBITDA 19.3 31.9 25.6 Net profit, according to the data provided by the 4.6 18 15.6 company (business accounting standarts) Result of agricultural sector attributable to - 9.5 4.5 Invalda
Slide 29: Agriculture sector (3)
Agriculture sector (3) Key events • In the agricultural sector Invalda LT, AB owns 20.1 percent of Litagra, UAB (one of the largest groups of agriculture companies in the Baltic states) shares through the company Cedus Invest, UAB. The shareholding decreased after the split-off of Invalda, AB. • Lit
Slide 30: Information technology sector (1)
Information technology sector (1) 80% 76.5% 70% • More information on the services and activity of the sector is provided on – www.baip.lt; www.nrd.no. 30
Slide 31: Information technology sector (2)
Information technology sector (2) million litas 9 months of 2011 9 months of 2012 9 months of 2013 Sales 19.3 24.0 31.1 EBITDA 0.3 0.6 2.5 Net profit before investment (0.4) (0.6) 0.3 amortization1 and cost of management options Net profit (1.7) (1.6) (0.6) 1. Amortization of contract assets formed
Slide 32: Information technology sector (3)
Information technology sector (3) • A new portfolio of cyber-security services covering defence governance, security audit, security incident response, security governance management, cyber defence technologies and services was developed and launched. International partnerships with AccessData, Lume
Slide 33: Information technology sector (4)
Information technology sector (4) Activity abroad • Norway Registers Development AS (NRD) has invested in the East Africa and acquired 70 percent shares of Tanzanian company 360° Smart Consulting Ltd in April 2013. Later the Company changed its name to Norway Registers Development East Africa Limite
Slide 34: Facility management sector (1)
Facility management sector (1) AB „Invalda LT“ 100% • More information about services and activity is provided on the web pages www.inservis.lt; www.jurita.lt; www.priemiestis.lt 34
Slide 35: Facility management sector (2)
Facility management sector (2) million litas 9 months of 2011 9 months of 2012 9 months of 2013 Sales 7.2 9.6 10.9 EBITDA 0.8 0.2 0.6 Net profit 1.03 (0.2) 1.1 • More information about services and activity is provided on the web pages www.inservis.lt; www.jurita.lt; www.priemiestis.lt 35
Slide 36: Facility management sector (3)
Facility management sector (3) • The companies of facility management sector are providing facility management, engineering systems oversight, audit and incidents management, indoor air quality testing, multi-apartment house management, installation, repair, cleaning and other services. • After the
Slide 37: Disclaimer
Disclaimer • The presentation was prepared by Invalda LT, AB. • Preliminary consolidated and Company’s financial statements of Invalda LT, AB for 9 months of 2013 was used for the preparation of the presentation. • Data provided here is for information purposes only. • The information provided here