Slide 1: Preliminary results of Invalda AB group for 6 months ending June 30, 2012
Preliminary results of Invalda AB group for the period 6 months ending June 30, 2012 Vilnius, August 27, 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 21,78% Vytautas Bucas Algirdas Bucas 15,83% 8,17% RB Finansai UAB 6,33% Darius Sulnis 7,69% Alvydas Banys and related persons Dalius and Dovile 8,27% Kaziunai 0,52% Lucrum Investicija UAB Irena Ona Miseikiene 7,41% 24,00% Votes for the announcement day as of
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 130,93 132,10 123,98 Nominal (par) value 1 litas 100,58 100,37 ISIN LT0000102279 Name IVL1L Exchange NASDAQ OMX Vilnius 30.06.2011 30.09.2011 30.12.2011 31.03.2012 30.06.2012 List BALTIC MAIN LIST *Tolat n
Slide 10: Trading in shares
Trading in shares Turnover (€) IVL1L change (%) OMXV change (%) OMX Baltic Financials GI change (%) DJStoxxEUTMI change (%) 100,00 400000 80,00 350000 60,00 300000 Change (%) Turnover, € 40,00 20,00 250000 0,00 200000 -20,00 150000 -40,00 100000 -60,00 -80,00 50000 -100,00 0 2011.06.30 2011.07.29 20
Slide 11: Financial results
Financial results
Slide 12: Key events
Key events (1) In 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 statem
Slide 13: Activity results of Invalda AB
Activity results of Invalda AB Consolidated Parent company 2012 2011 2012 2011 million litas 6 months 6 months 6 months 6 months Assets 578.8 725.5 378.8 484.5 Equity 406.3 341.8 375.8 279.0 detailed on slide 14 Liabilities 172.5 383.7 3.0 205.5 Profit (loss) for the 22.7 145.4 36.2 193.1 period Att
Slide 14: Equity and liabilities
Equity and liabilities 2012 2011 Invalda AB, million litas 6 months 6 months Equity 375.8 279.0 Liabilities to financial institutions - 80.3 of which are long term - 78.6 Liabilities to group companies 0.4 31.9 Bonds - 32.4 Other liabilities 2.6 60.9 Total liabilities 3.0 205.5 Total equity and liab
Slide 15: Invalda AB assets according to standalone financial statements (book value)
Invalda AB assets according to standalone financial statements (book value) Book value Asset June 30, 2012, Description million litas 72.14 percent stake of Vilniaus Baldai AB, the share Furniture manufacturing 13.9 value on June 30, 2012 in NASDAQ OMX Vilnius is 158.3 million litas (€45.8 million)
Slide 16: Results
Results Impact to the profit (loss) statement of Invalda AB due to group sectors and financial investments million litas 2012 6 months 2011 6 months Furniture manufacturing 7.8 9.6 Real estate (0.3) (1.4) Facilities management (0.2) 0.2 Agricultural 3.6 - Information technology infrastructure (1.1)
Slide 17: Furniture manufacturing (1)
Furniture manufacturing (1) million litas 2012 6 months 2011 6 months Change Change, % Sales 115.4 114.8 0.6 0.52 EBITDA 15.4 18.2 (2.8) (15) Net profit 10.9 13.4 (2.5) (19) Capitalization 159.7 158.3 1.4 0.88 Shares of Vilniaus Baldai AB are listed on NASDAQ OMX Vilnius stock exchange 160000 14 140
Slide 18: Furniture manufacturing (2)
Furniture manufacturing (2) Main events Vilniaus Baldai AB had no significant changes of activities in the first half of 2012. The company achieved the planned sales and sold 0.5 percent more production than in the corresponding period of 2011. The situation on raw materials market has stabilized; a
Slide 19: Real estate sector (consolidated data) (1)
Real estate sector (consolidated data) (1) 2012 2011 million litas 6 months 6 months Change Change, % Value of real estate 255.9 250.5 5.4 2.2 Commercial real estate 155.6 175.4 (19.8) (11.3) Real estate for development 59.7 53.6 6.1 11.4 Residential real estate 3.8 4.8 (1) (20.8) Agricultural land
Slide 20: Real estate sector (2)
Real estate sector (2) Main events The total sector’s income growth came from the sale of apartments in the project Elniakampio Namai for the total amount close to 5.3 million litas (€1.5 million). Overall residential property sales amounted to more than 6.5 million litas (€1.9 million). During the
Slide 21: 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. 2012 2011 Change Change,% million litas 6 months 6 months* Sales 6.0 4.4 1.6 36.4 EBITDA 0.1 0.5 (0.4) (80) Net prof
Slide 22: Facility management sector (2)
Facility management sector (2) Main events The reorganization of the facility management structure, optimization of business processes and improvement of quality of services was continued during the first half of 2012. The business management system was started to be implemented in all companies of
Slide 23: 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 24: Agricultural sector (2)
Agricultural sector (2)) Sector’s results In the first half of 2012 revenues of Litagra UAB group decreased slightly, but profitability increased due to more effective corporate governance and cost reduction. The largest improvements were achieved in the trade of plant protection chemicals and ferti
Slide 25: Information technology sector (1)
Information technology sector (1) Consolidated results of BAIP Group¹ UAB million litas 2012 6 months 2011 6 months Change Change, % Sales 15.2 14.5 0.7 4.8 EBITDA 0.6 0.8 (0.2) (25) Net profit before investment (0.6) (0.06) (0.54) - amortization2 and cost of management options Net profit (1.3) (1.0
Slide 26: Information technology sector (2)
Information technology sector (2) Main events BAIP UAB finished implementation of a new tool - IBM Tivoli Service Request Manager. The company implemented information technology services management standard; ISO20000 certificate was issued to the company as a confirmation of it. This achievement wil
Slide 27: Rail and road infrastructure
Rail and road infrastructure Trakcja – Tiltra, S.A. shares are listed on Warsaw Stock Exchange 1,6 8000000 1,4 7000000 1,2 6000000 1 5000000 0,8 4000000 0,6 3000000 0,4 2000000 0,2 1000000 0 0 02.01.2012 02.02.2012 02.03.2012 02.04.2012 02.05.2012 02.06.2012 Turnover (thPLN) Price TRK (PLN) Invalda
Slide 28: 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 6 months of 2012; Data provided here is for information purposes only. The information provided here is not a
Slide 29: Thank you!
Thank you!