Slide 1: Preliminary results of AB Invalda group for 3 months ending March 31, 2012
Preliminary results of AB Invalda group for the period 3 months ending March 31, 2012 Vilnius, May 24, 2012
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 19,18% Algirdas Bucas 5,95% Vytautas Bucas 16,65% RB Finansai UAB 7,90% Alvydas Banys and Darius Sulnis related persons 7,08% 8,29% Dalius and Dovile Kaziunai Lucrum Investicija UAB 0,37% 9,32% Irena Ona Miseikiene DIM Investment UAB 22,91% 2,35% Votes for th
Slide 7: Shareholder structure
Shareholder structure Other shareholders 21,77% Vytautas Bucas Algirdas Bucas 15,83% 8,17% RB Finansai UAB 6,33% Darius Sulnis 7,86% Alvydas Banys and related persons Dalius and Dovile 8,27% Kaziunai 0,36% Lucrum Investicija UAB 7,41% Irena Ona Miseikiene 24,00% Votes for the announcement day of May
Slide 8: 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 9: 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 10: The shares of Invalda AB
The shares of Invalda AB Total number of 57 557 940* (shares) securities *On May 18, Invalda AB acquired 10 Nominal (par) value 1 litas percent of its own shares, i.e. 5 755 794 shares. As own shares of the Company ISIN LT0000102279 do not have voting rights, the shares of Name IVL1L Invalda AB (ISI
Slide 11: Trading in shares
Trading in shares Turnover (€) IVL1L change (%) OMXV change (%) OMX Baltic Financials GI change (%) DJStoxxEUTMI change (%) 100,00 450000 80,00 400000 60,00 350000 40,00 300000 20,00 Change (%) Turnover, € 250000 0,00 200000 -20,00 150000 -40,00 100000 -60,00 -80,00 50000 -100,00 0 2011.03.31 2011.0
Slide 12: Financial results
Financial results
Slide 13: Key events (1)
Key events (1) In the January, 2012, Invalda AB sold 29.5 percent of shares of the metal processing company Umega AB. Shares sold for the 3.7 million litas (€ 1.07 million). The transaction should have a preliminary positive effect of approximately 2 million litas (€ 0.6 million) in the consolidated
Slide 14: Key events (2)
Key events (2) Invalda AB acquired 10 percent of its own shares for the amount of 59.6 million litas (€ 17.26 million) after completion of the share buy-back program. In the General Shareholders' Meeting, on April 30, 2012, Invalda AB shareholders approved the results for the year 2011, formed a res
Slide 15: Activity results of Invalda AB
Activity results of Invalda AB Consolidated Parent company 2012 2011 2012 2011 million litas 3 months 3 months 3 months 3 months Assets 667.9 611.3 414.4 310.9 Equity 472.3 208.9 410.3 84.8 detailed on slide 16 Liabilities 195.6 402.5 4.1 226.1 Profit (loss) for the 18.2 8.4 11.0 (1.0) period Attrib
Slide 16: Equity and liabilities
Equity and liabilities 2012 2011 Invalda AB, million litas 3 months 3 months Equity 410.3 84.8 Liabilities to financial institutions - 138.9 of which are long term - 94.1 Liabilities to group companies 0.4 51.3 Bonds 34.1 32.4 Other liabilities (3.7) 3.5 Total liabilities (4.1) 226.1 Total equity an
Slide 17: AB Invalda assets (book value)
AB Invalda assets (book value) Book value Asset March 31, 2012, Description million litas 72.14 percent stake of AB Vilniaus Baldai, the share Furniture manufacturing 13.9 value on December 31, 2011 in NASDAQ OMX Vilnius is 99.7 million litas (€28.9 million) Investments into the real estate and loan
Slide 18: Results
Results Impact to the profit (loss) statement of Invalda AB due to group sectors and financial investments 2012 2011 million litas 3 months 3 months Furniture manufacturing 4.4 4.9 Real estate 0.2 0.3 Facilities management (0.1) 0.1 Agricultural (1.5) - Information technology infrastructure (0.5) (0
Slide 19: Furniture manufacturing (1)
Furniture manufacturing (1) million litas 2012 3 months 2011 3 months Change Change, % Sales 58.5 56.6 1.9 3 EBITDA 8.5 9.2 (0.7) (7) Net profit 6.1 6.9 (0.8) (12) Capitalization 175.8 128.8 47 37 Shares of Vilniaus Baldai AB are listed on NASDAQ OMX Vilnius stock exchange 14 60000 12 50000 10 Turno
Slide 20: Furniture manufacturing (2)
Furniture manufacturing (2) Main events Vilniaus baldai AB had no significant changes of activities in the first quarter of 2012. The company has achieved the planned sales and sold 3.5 percent more production than in the corresponding period of 2011. In the first quarter the production volume was h
Slide 21: Real estate sector (1)
Real estate sector (1) 2012 2011 million litas 3 months 3 months Change Change, % Value of real estate 255.4 249.6 5.8 2 Commercial real estate 155.6 176.6 (21) (12) Real estate for development 60.0 51.5 8.5 17 Residential real estate 4.5 5.6 (1.1) (20) Agricultural land 35.3 15.9 19.4 122 Sharehold
Slide 22: Real estate sector (2)
Real estate sector (2) Main events The total sector’s income growth was caused by the fact that apartments for the total amount of 4.3 million litas (€ 1.2 million) were sold in project Elniakampio Namai. Overall residential property sales amounted to 5.6 million litas (€ 1.6 million). During the fi
Slide 23: Facility management sector (1)
Facility management sector (1) Sector’s results From the first quarter of 2011 facility management sector is recognized as a separate sector in the financial statements of Invalda AB. Jurita UAB results were not consolidated fully in 2011. 2012 2011 Change Change,% million litas 3 months 3 months Sa
Slide 24: Facility management sector (2)
Facility management sector (2) Main events Management structure of the facility management sector was reorganized, business processes and quality of services were optimized in the first quarter of 2012. The business management system and other business digitization projects (for example, automated m
Slide 25: Agricultural sector (1)
Agricultural sector (1)) Since December, 2011, Invalda AB owns 36.9 percent of Litagra UAB shares, which is one of the largest agriculture company groups in the Baltic countries. The companies of Litagra UAB Group are engaged in the primary crop and livestock (milk) production, grain processing and
Slide 26: Agricultural sector (2)
Agricultural sector (2)) Sector’s results In April 2012, SEB bank together with DNB bank granted to Litagra UAB two syndicated loans totaling to 98.4 million litas (€ 28.5 million). This amount finance working capital needs and refinance current loans. Litagra UAB group incurred a loss in the first
Slide 27: Information technology sector (1)
Information technology sector (1) Consolidated results of BAIP Group¹ UAB 2012 2011 million litas Change Change, % 3 months 3 months Sales 7.2 8.4 (1.2) (14) EBITDA 0.4 0.3 0.1 33 Net profit before investment (0.2) (0.1) 0.1 (100) amortization2 and cost of management options Net profit (0.6) (0.6) 0
Slide 28: Information technology sector (2)
Information technology sector (2) Abroad activities BAIP group has gained legal IT consulting expertise, and started to provide critical information systems development, architecture and applications services after the acquisition of Norwegian company Norway Registers Development AS (NRD) at the end
Slide 29: Rail and road infrastructure
Rail and road infrastructure Trakcja – Tiltra, S.A. shares are listed on Warsaw Stock Exchange 4 8000 3,5 7000 3 6000 2,5 5000 2 4000 1,5 3000 1 2000 0,5 1000 0 0 31.03.2011 30.04.2011 31.05.2011 30.06.2011 31.07.2011 31.08.2011 30.09.2011 31.10.2011 30.11.2011 31.12.2011 31.01.2012 29.02.2012 Turno
Slide 30: Disclaimer
Disclaimer The presentation was prepared by AB Invalda. The following information was used for the preparation: Preliminary consolidated and Company’s financial statements of Invalda for 3 months of 2012; Data provided here is for information purposes only. The information provided here is not a rec
Slide 31: Thank you!
Thank you!