Investment group Invalda announces audited results for 2009, which do not materially differ from preliminary announcement. Invalda group’s loss attributed to equity holders of the parent company after the audit decreased by 2.5 million Litas to 88.6 million Litas. Main activity of the group was profitable – operating profit amounted to 23 million Litas but the group formed allowances (111.6 million Litas) mainly for possible real estate losses and investment property valuation loss.
„As we announced earlier, except for the real estate sector, all largest businesses of Invalda were operating profitably and generated positive cash flow. One of the reasons was the fact that the largest part of income of these businesses was received from countries other than Lithuania.”, – said president of Invalda Darius Sulnis.
Invalda shareholders will vote to approve results and cover losses from reserves during shareholders meeting on April 30, 2010. Shareholders will also vote to reelect current board and audit committee members and to approve group employees stock option grants policy.
„We seek to maintain and strengthen the team of qualified, optimistic, responsible and loyal employees and to create conditions for self-realisation and to direct employees energy towards implementation of Invald’sa goals”, – said D. Sulnis.
Considering the group’s and different companies’ results in 2010-2011, Invalda management board will allow the employees to acquire up to 1 per cent of current Invalda share capital. Issue price of new shares – 5.5 Litas. Specific number of shares and employees which will get stock option grants will be approved by the management board.
About Invalda AB
Investment company Invalda was established in 1992. The goal of the company – steady long term growth, successful activity development and high long term financial return to the shareholders. Currently Invalda focuses on pharmacy (Sanitas), roads and bridges construction (Tiltra Group, Kauno Tiltai), furniture manufacturing (Vilniaus Baldai), real estate (Invalda Nekilnojamojo Turto Fondas) and IT infrastructure (Positor, Baltic Amadeus Infrastrukturos Paslaugos) segments.
Activities of Invalda group cover Central and East Europe – Poland, Lithuania, Slovakia and Latvia.
Invalda AB shares have been listed since December 19, 1995 (then – at National Stock Exchange); from the January 1, 2008 the company’s shares have been on the Main List of NASDAQ OMX Vilnius stock exchange.