In 2010 Invalda Group earned LTL 42.5 million audited consolidated net profit attributable to shareholders of the parent company. The previously published preliminary unaudited result was 1.8 m LTL less.
On Friday Invalda Board approved the 2010 financial statements and provides them to the general shareholders meeting to be held on April 29. The Board proposes for the shareholders not to allocate dividends and bonuses.
Mr. Vaidas Savukynas is proposed to be elect as the Audit Committee member of Invalda. He has more than 20 years of experience in financial sphere. V. Savukynas worked as CFO in Apranga Group, also as director of administration in Zemaitijos Pienas.
“We hope that the new Audit Committee member’s knowledge, qualification and many years of experience in financial management will contribute to the efficient and transparent disclosure of Invalda’s activity,” – Vytautas Bucas, a chairman of the Board of Invalda, said.
According to Darius Sulnis, the president of Invalda, management of the company considers that the results of the year 2010 are good – the main businesses of Invalda were profitable and generally reached their objectives.
“Previously set goals to increase profitability and cash flow, also to increase the efficiency and competitiveness remain unchanged. In 2011 we intend to pay more attention on expansion of businesses’ scope, in some cases – on a fast development”, – said D. Sulnis.
According to him, now a situation of Invalda Group is good, and the current trends allow to be positive about the future perspectives.
In pharmaceutical sector Invalda owns 26.5 percent of Sanitas shares, in furniture manufacturing sector – 72 percent of Vilniaus Baldai, in road and bridge construction sector – 43.4 percent of Kauno Tiltai and 44.8 percent of Tiltra Group, in real estate sector – Invaldos Nekilnojamojo Turto Fondas and other companies, in IT sector – 80 percent of BAIP Group shares.
About Invalda AB
Invalda 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 actively manages its investments, exercising control or significant influence over target businesses.
The largest part of Invalda Group activities are performed in Poland and Lithuania.
Invalda’s shares have been listed since December 19, 1995 (then – at the National Stock Exchange). From the January 1, 2008 the company’s shares have been on the Main List of NASDAQ OMX Vilnius stock exchange.