Unaudited results of Invalda LT, AB group for the first 6 months of 2014:
– consolidated net profit attributable to shareholders of Invalda LT, AB totaled to LTL 18.8 million (EUR 5.4 million), in the same period of 2013 it was LTL 92.2 million (EUR 26.7 million);
– consolidated net profit totaled to LTL 18.8 million (EUR 5.4 million), in the same period of 2013 it was LTL 93.2 million (EUR 27 million).
The net profit of Invalda LT, AB for the first half of 2014 amounted to LTL 75.5 million (EUR 21.9 million) (at the same period of 2013 the profit amounted to LTL 69.5 million (EUR 20.1 million)).
Additional information:
Net asset value of Invalda LT, AB was LTL 158.5 million (EUR 45.9 million) or LTL 13.36 (EUR 3.87) per share at the end of the first half of 2014.
After the split-off in the second quarter of 2014, Invalda LT is now presented as an investment company (according to the tenth International Financial Reporting Standard).
“This means, that all assets owned by Invalda LT are evaluated according to their fair value, while only the main management businesses are consolidated” – said Raimondas Rajeckas, the CFO of Invalda LT.
At the end of June 2014, investment into the main asset management business (license seeking Invalda LT Investments) amounted to LTL 1.4 million (EUR 0.4 million).
The cash and cash equivalents owned by Invalda LT amounted to LTL 41.2 million (EUR 11.9 million) at the end of first half-year.
The value of 12.42% shares in INVL Baltic Real Estate amounted to LTL 5.7 million (EUR 1.65 million) according to the market price, while the value of 12.42% shares in INVL Technology was – LTL 2.3 million (EUR 0.7 million).
The loans for INVL Baltic Real Estate group companies as well as INVL Technology group companies amounted to LTL 25.9 million (EUR 7.5 million).
The total value of Invalda LT investment into Litagra, UAB amounted to LTL 51.6 million (EUR 14.9 million) at the end of June 2014. The evaluation was implemented according to the completed purchase transaction when at the end May 2014 Invalda LT increased owned stake in Litagra up to 36.9% .
The value of investments into facility management companies Inservis, Priemestis, Jurita and Naujosios Vilnios Turgaviete amounted to LTL 9.1 million (EUR 2.6 million) at the end of June 2014. Evaluation was implemented according to EBITDA multiplier of a comparative company listed on NASDAQ OMX Vilnius stock exchange.
Other investments accounted to LTL 6.5 million (EUR 1.9 million), from which LTL 4.4 million (EUR 1.3 million) were invested into listed shares.
The deferred income tax asset of Invalda LT was LTL 7.1 million (EUR 2.1 million).
Standalone profit of Invalda LT was LTL 75.5 million (EUR 21.9 million), while consolidated profit, attributable for shareholders of the parent company was LTL 18.8 million (EUR 5.4 million) in the first half 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 OMX Vilnius stock exchange.
Attached:
– Financial statements for 6 months of 2014;
– Interim report;
– Factsheet
The person authorized to provide additional information:
Darius Sulnis
President
Phone +370 5279 0691
E-mail:[email protected]