Slide 1: Invalda LT, AB consolidated interim results for 12 months of 2013
Invalda LT, AB consolidated interim results for 12 months of 2013 Vilnius, 24 February 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 is one of the major asset management companies in Lithuania 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 signi
Slide 4: The main sectors of Invalda LT, AB
The main sectors of Invalda LT, AB Remark: more information on Group’s companies and their contacts is presented in Consolidated Interim Report for 12 months of 2013 (Appendix I. „Information about group companies, their contact details”, pages 40-46). 4
Slide 5: Shareholders structure
Shareholders structure Votes of shareholders of Invalda LT, AB as of 31 December 2013 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 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 22,797,297 from 30 December 2013, units Nominal value, LTL 1 Total nominal value, L
Slide 8: Trading in Invalda LT, AB shares (1)
Trading in Invalda LT, AB shares (1) 2009 2010 2011 2012 2013 Share price, EUR - open 0.484 0.533 2.000 1.930 1.970 - high 1.075 2.546 2.650 2.940 3.450 - low 0.319 0.521 1.733 1.871 1.960 - medium 0.565 1.130 2.050 2.308 2.539 - last 0.533 1.989 1.943 1.970 3.450 Turnover, units 7,273,279 6,509,830
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. Remark: more information on securities of the company is presented in Consolidated Interim Report for 12 months of 2013 (section II. „Information about securities”, pages 7-14). 10
Slide 11: Acquisitions of own shares
Key events Acquisitions of own shares Since the beginning of the year 2013 the company implemented share acquisition process for four times: The total amount paid to the shareholders was LTL 72.597 million (EUR 21.025 million): 1. 8 March 2013 the company acquired 10 % of own shares at the total pri
Slide 12: The split-off
Key events The split-off • On 9 April 2013 the General shareholders Meeting of Invalda, AB approved split–off terms. 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 Privatus Kapitalas, AB has been formed. 4
Slide 13: Change of management
Key events Change of management • On 22 May 2013 the Board of Invalda, AB removed Dalius Kaziunas and appointed Darius 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. Alvydas Banys
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 million litas 2011 2012 2013 2011 2012 2013 Assets 399.0 372.2 174.9 646.4 589.9 367.9 Equity 360.7 360.6 160.3 415.3 416.2 221.2 Liabilities 38.3 11.6 14.6 231.1 173.7 146.7 Profit (loss) 274.9 20.9 79.0 216.5 32.1 110.4 Profit (loss) a
Slide 16: Equity and liabilities
Equity and liabilities million litas 2011 2012 2013 Equity 360.7 360.6 160.3* Liabilities to financial institutions - - 7.8 from this long term - - - Liabilities to group companies 0.4 9.1 4.9 Bonds 34.1 - - Other liabilities 3.8 2.5 1.9 Total liabilities 38.3 11.6 14.6 Total Equity and Liabilities
Slide 17: Invalda LT, AB assets according to standalone financial statements
Invalda LT, AB assets according to standalone financial statements (book value) Asset Book value, LTL million Description Investment into 45.4 percent stake of Vilniaus Furniture manufacturing sector 19.7 Baldai, AB, which at NASDAQ OMX Vilnius was worth LTL 85.3 million on 31 December 2013 Investme
Slide 18: Results
Results Impact to the profit (loss) statement due to group sectors and financial investments million litas 2011 2012 2013 Furniture manufacturing sector 19.3 19.5 6.0 Real estate sector (20) (13.5) 2.9 Agricultural land sector 2.2 2.4 9.1 Agriculture sector - 8.7 4.4 Information technology sector (0
Slide 19: Group results
Group results Remark: more information about Invalda LT group results is presented in Consolidated Interim Report for 12 months of 2013 (section IV. „Information about the Issuer’s and its Group Companies’ activity“, pages 25-29).
Slide 20: 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 Dalius Aleksandravicius (since 6 January manufacturing 2014) Aidas Mackevicius (until 6 January 2014) • More information about company’s activities and
Slide 21: Furniture manufacturing sector (2)
Furniture manufacturing sector (2) million litas 2012 2013 Change Change, % Sales 230.1 166.1 (64) (27.8) EBITDA 34.9 21.1 (13.8) (39.5) Net profit 27.0 14.3 (12.7) (47) Capitalization 190.5 187.9 (2.6) (1.4) Employees 464 488 24 5.2 • More information about company’s activities and results are prov
Slide 22: 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 23: Real estate sector (2)
Real estate sector (2) million litas 2012 2013 Change Change, % Value of commercial real estate 202.1 144.5 (57.6) (28.5) Shareholders’ equity (incl. loans 113.2 46.0 (67.2) (59.4) from Invalda LT, AB) Loans from credit institutions 101.0 95.6 (5.4) (5.3) Rental income 16.5 15.2 (1.3) (7.9) from thi
Slide 24: 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 25: Agricultural land sector (2)
Agricultural land sector (2) 2012 2013 Change Change, % Arable land, hectare 4995.3 2923.6 (2071.7) (41.5) Average fertility quality points 46,7 46,4 (0.3) (0.6) Value of agricultural land, LTL million 41.8 36.1 (5.7) (13.6) Shareholders’ equity (incl. loans from Invalda 41.4 33.4 (8.0) (19.3) LT, A
Slide 26: 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 27: Agriculture sector (2)
Agriculture sector (2) million litas 2012 2013 Change Change, % Sales 429.2 452.6 23.4 5.4 EBITDA 38.9 26.6 (12.3) (31.6) Net result, according to the data provided by the company, 20.4 11.2 (9.2) (45.1) prepared by business accounting standards. • More information on the services and activity of th
Slide 28: 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 29: Information technology sector (2)
Information technology sector (2) million litas 2012 2013 Change Change, % Sales 40.8 50.3 9.5 23.3 EBITDA 2.7 4.4 1.7 63.0 Net profit before investment amortization1 (0.1) 1.4 1.5 - and cost of management options Net profit (1.1) 0.7 1.8 - Result of the information technology sector (incl. (0,2) 1,
Slide 30: 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 31: Facility management sector (2)
Facility management sector (2) million litas 2012 2013 Change Change, % Sales 13.1 15.5 2.4 18.3 EBITDA 0.4 1.1 0.7 175.0 Net profit (0.3) 1.4 1.7 - Employees 231 249 18 7.8 • More information about services and activity is provided on the web pages www.inservis.lt; www.jurita.lt; www.priemiestis.lt
Slide 32: Company plans
/ Company plans / ~ fees
Slide 33: Reorganization (1)
Reorganization (1) • On 12 December 2013 the Board of Invalda LT, AB decided to analyse possibilities regarding the new management business model. The reasons is that now the shareholders aren‘t able to select the sector, the risk level as well as the term of the investments. Moreover, company's cap
Slide 34: Reorganization (2)
Reorganization (2) • 3 public limited liability companies will be separated from Invalda LT, AB. These Shareholders of Invalda LT, AB – about 4000 companies will engage in the licensed asset management. ‒ First investment companies could The real estate investment operate in the real estate sector,
Slide 35: Disclaimer
Disclaimer • The presentation was prepared by Invalda LT, AB. • Preliminary consolidated and company’s financial statements of Invalda LT, AB for 12 months of 2013 were used in the presentation. • Data provided here is for information purposes only. • The information provided here is not a recommend