Slide 1: Preliminary results of Invalda AB group for 6 months of 2011
Preliminary results of Invalda AB group for 6 months of 2011 2011 Vilnius, 31 August 2011
Slide 2: What is Invalda AB?
What is Invalda AB? Invalda AB is one of the major Lithuanian investment companies whose primary objective is to steadily increase the investor equity value. Invalda actively manages its investments, exercising control or significant influence over target businesses. More about businesses managed by
Slide 3: Management principles
Management principles Invalda is proactively managing its investments following these principles: Each business of the Group must be competitive and self- Competitiveness and sufficient, have professional teams and top managers capable independence of creating business visions and implementing ambit
Slide 4: Investment philosophy
Investment philosophy Invalda is the company driven by shareholder value creation objectives. Invalda seeks to acquire Investing into Invalda doesn’t avoid any competitive businesses that, undervalued assets that, complex business opportunities. with an influx of additional when restructured, may Th
Slide 5: Activity sectors of Invalda Group
Activity sectors of Invalda Group 5
Slide 6: Financial results
Financial results
Slide 7: Key events (1)
Key events (1) (1) On 19 August 2011 the sale of shareholding in Sanitas AB to Valeant Pharmaceuticals International, Inc. was completed. Invalda sold 26.5 percent stake in Net gain in the consolidated financial Sanitas AB, for which Valeant has statements of Invalda Group and paid 83 mEUR (286.7 mL
Slide 8: Key events (2)
Key events (2) In April a merger of Trakcja Polska and Tiltra Group completed. Invalda sold 44.8 percent stake in Tiltra Proceedings paid to Invalda AB for Group and 43.4 percent stake in Kauno shares in Tiltra Group AB and Kauno Tiltai AB for 314.1 mPLN and acquired Tiltai AB might be reduced by no
Slide 9: Other events
Other events New companies joined the Group during I half. Group company acquired 51 A company Inreal GEO, Invalda group percent of Lauko which will provide increased stake in Gelininkystes Bandymu Stotis land geodetic Vernitas AB up to shares from the State Property measurements services, more than
Slide 10: Activity results of Invalda AB
Activity results of Invalda AB Consolidated Parent company mLTL 2010 H1 2011 H1 2010 H1 2011 H1 Assets 566.5 725.6 319 484.5 Equity 153.6 341.9 94 279 detailed in 11 Liabilities 412.9 383.7 225 205.5 slide Profit (loss) 12.1 146.2 -2.3 193.1 Attributable to equity holders of the parent 6.6 142.4 -2.
Slide 11: Equity and liabilities
Equity and liabilities Invalda AB, mLTL 2010 H1 2011 H1 A profit from Equity 94 279 Sanitas stake sale Liabilities to financial institutions 141.3 80.3 will increase equity by 160.3 from this long term 97.8 78.6 mLTL (46.4 mEUR) Liabilities to group companies 41.8 31.9 in the third quarter . Bonds 3
Slide 12: Preliminary results
Preliminary results Group sectors and financial investments impact to the profit (loss) statement of Invalda. mLTL 2010 H1 2011 H1 Furniture manufacturing 9.0 9.6 Real estate 1.0 -1.4 Change in Trakcja-Tiltra stock price - -19.5 Change in value of Trakcja-Tiltra bonds - 1.0 IT infrastructure sector
Slide 13: Pharmaceuticals sector (Sanitas AB)
Pharmaceuticals sector (Sanitas AB) AB) In August 2011 a sale of stake in Sanitas was completed. Controlling shareholders sold Enterprise value amounts Net profit in standalone 87.2 percent stake in Sanitas to to 365 mEUR (1260.3 financial statements of Invalda Valeant Pharmaceuticals mLTL), equity
Slide 14: Furniture manufacturing (Vilniaus baldai AB) (1)
Furniture manufacturing (Vilniaus baldai AB) AB) (1) mLTL 2010 H1 2011 H1 Change, mLTL Sales 86.7 114.8 28.1 EBITDA 17.8 18.2 0.4 Net profit 12.6 13.4 0.8 Capitalization 73 158 85 Shares of Vilniaus Baldai are listed on NASDAQ OMX Vilnius stock exchange. Turnover and share price of Vilniaus Baldai A
Slide 15: Furniture manufacturing (Vilniaus baldai AB) (2)
Furniture manufacturing (Vilniaus baldai AB) AB) (2) Trends Ikea increased sales offset the decline in Company can not increase prices due to margins on the rising prices of raw high competition on the market. materials. 15.5 mLTL (4.5 mEUR) allocated for The company generated stable cash dividends,
Slide 16: Real estate sector (1)
Real estate sector (1) mLTL 2010 H1 2011 H1 Value of real estate 248.3 250.5 Shareholders’ equity (incl. loans from Invalda) 99.9 111.7 Loans from credit institutions 143.5 133.2 Rent income 9.3 8.4 Appraisal is from this owned by clients 2.6 2.4 made at the end of the Change of the real estate valu
Slide 17: Real estate sector (2)
Real estate sector (2) Trends Rental income decreased during the year, New construction of 17 flats but a trend of stabilization is observed in apartment in Vilnius, Valakampiai the first half of 2011. district, was launched. 7 flats reserved. A company Inreal GEO was established. Amendments to the
Slide 18: Rail and road infrastructure (1)
Rail and road infrastructure (1) A merger of Trakcja Polska and Tiltra Group completed. In November 2010 it was announced Total amount of the deal - 777.536 about the activities merger of Tiltra mPLN. Group and the Polish railway The part of Invalda before the expenses infrastructure construction ma
Slide 19: Rail and road infrastructure (2)
Rail and road infrastructure (2) Proceedings paid to Invalda During the financial During the financial year might be reduced by not year which ended in 31 which ends in 31 March more than 60.6 mPLN, March 2011, Tiltra 2012, Tiltra Group has to depending on the financial Group had to achieve achieve
Slide 20: Trakcja-Tiltra share price development
Trakcja- Trakcja-Tiltra share price development Trading in Trakcja-Tiltra (name changed from Trakcja Polska) shares: 6 18000 16000 5 14000 4 12000 10000 3 8000 2 6000 4000 1 2000 0 0 05.01.2009 09.02.2009 16.03.2009 22.04.2009 28.05.2009 03.07.2009 07.08.2009 11.09.2009 16.10.2009 23.11.2009 30.12.2
Slide 21: Information technology sector (1)
Information technology sector (1) Consolidated BAIP group results. Change, mLTL 2010 H1 2011 H1 mLTL Sales 6.5 14.5 8.0 EBITDA -0.1 0.8 0.9 Net profit attributable to Invalda shareholders -1.2 -0.2 1.0 Key events of 2011: Growing revenues and BAIP together with BAIP designed and amount of stable ser
Slide 22: Information technology sector (2)
Information technology sector (2) Changed names of the companies in 2011. BAIP Group and BAIP changed their names and logos (before that BAIP Group was called Positor and BAIP - Baltic Amadeus Infrastrukturos Paslaugos). This change is a planned action by which one of the provisions of company acqui
Slide 23: Facility management sector (1)
Facility management sector (1) Aggregated results of Invalda Service and Priemiestis. From 1 quarter 2011 facility The group management sector is determined as didn’t own separate sector in the financial Priemiestis in statements of Invalda. H1 of 2010. mLTL 2010 H1 2011 H1 Change Sales 2.9 4.4 1.5
Slide 24: Facility management sector (2)
Facility management sector (2) Investments into organic development and acquisitions. In August 2011 facility management Agreements to provide facilities company Jurita was acquired for 2.5 management services to business center mLTL (0.7 mEUR) from Vilnius City Evita, DnB Nord subsidiary Intractus
Slide 25: 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 for 6 months of 2010; Preliminary consolidated and Company’s financial statements of Invalda for 6 months of 2011. Da
Slide 26: Thank you!
Thank you!