Invalda LT is one of the major companies in Lithuania investing in other businesses and managing assets. Company’s net asset value was LTL 161 million or LTL 13.57 (EUR 3.93) per share at the end of September 2014.
After the split-off in the second quarter of 2014, Invalda LT is now presented as an investment company (according to the 10th International Financial Reporting Standard). This means, that all assets owned by Invalda LT are valued according to their fair value, while only the main management businesses is consolidated.
“We have completed the acquisition of MP Pension Funds Baltic, a specialised pension funds company, during the third quarter of 2014 and have signed a binding Share Purchase Agreement for the acquisition of Finasta Group. These deals are strategic to Invalda LT group. They will strengthen position of Invalda LT as one of the largest and oldest participants in the asset management market in Lithuania”, – Darius Sulnis, the president of Invalda LT, said.
At the end of September 2014, investment into the main asset management business (MP Pension Funds Baltic and license seeking Invalda LT Investments) amounted to LTL 12.8 million. MP Pension Funds Baltic had LTL 308.2 million assets under management at the end of the third quarter of 2014. The company has 62 thousand clients. Compared to the beginning of 2014, company’s assets under management increased by 22.2%, a number of clients by 7.4%.
Cash and cash equivalents owned by Invalda LT amounted to LTL 27.9 million at the end of nine months of 2014.
The value of 12.4% shares in INVL Baltic Real Estate amounted to LTL 5.5 million according to the market price, while the value of 12.4% shares in INVL Technology was LTL 2.6 million.
Loans to INVL Baltic Real Estate group companies as well as INVL Technology group companies amounted to LTL 28 million.
A total value of Invalda LT investment into Litagra, UAB amounted to LTL 51.6 million at the end of September 2014. The valuation was implemented according to the completed purchase transaction when at the end of May 2014 Invalda LT increased its owned stake in Litagra to 36.9%.
Value of investments into facility management companies Inservis, Priemestis, Jurita and Naujosios Vilnios Turgaviete amounted to LTL 11.7 million at the end of September 2014. Valuation was implemented according to EBITDA multiplier of a comparative company listed on NASDAQ Vilnius stock exchange.
Other investments amounted to LTL 6 million from which LTL 4.3 million were invested into listed shares.
The deferred income tax asset of Invalda LT was LTL 7.1 million at the end of September 2014.
Standalone profit of Invalda LT was LTL 78 million while consolidated profit, attributable for shareholders of the parent company was LTL 21.3 million for the nine months of 2014. The profit of Invalda LT was LT 2.5 million on the third quarter of 2014.
After the split-off of Invalda LT was completed at the end of April 2014, new companies INVL Baltic Farmland, INVL Baltic Real Estate and INVL Technology started their activity. Shares of these companies are listed on NASDAQ Vilnius stock exchange.