Invalda INVL

Earnings Release • May 31, 2016

Key information about Invalda INVL, AB for 3 months of 2016

Invalda INVL, operating since 1991, is one of the leading asset management groups in the Baltic region. The companies it owns in Lithuania and Latvia manage more than 20 mutual, real estate and pension funds (2nd and 3rd pillar), alternative investments, individual portfolios, private equity and other financial instruments. Companies in the group manage more than EUR 300 million of assets entrusted to them by over 150,000 clients in Lithuania and Latvia as well as international investors.

The shares of Invalda INVL have traded on the NASDAQ Baltic exchange since 1995.

Net assets of the Company, thousand EUR	Evaluation criteria		31.03.2016	31.12.2015
Investment into asset management	Acquisition cost price		7,055	6,955
Cash and cash equivalents	Book value		1,620	1,238
Deferred income tax asset	Book value		143	137
Investments into INVL Baltic Real Estate, AB	Market price		8,541	1,985
Investments into INVL Technology, AB	Market price		3,565	3,831
Other listed shares and investment funds' units	Market price		580	513
Investments into Litagra, UAB (including loans granted)	Comparative method of multipliers		14,318	14,897
Investments into Siauliu Bankas	Market price		7,111	6,363
Investments into Inservis, UAB (including loans granted)	Comparative method of multipliers		4,612	4,828
Investments into other subsidiary companies (including loans granted)	Fair value of net assets		1,095	1,120
Loans to group companies of INVL Baltic Real Estate, AB	Book value		-	6,862
Other assets, other investments	Book value		607	602
Liabilities	Book value		(878)	(858)
NET ASSET VALUE			48,369	48,473
Balance sheet of the Group, thousand EUR	31.03.2016		31.12.2015
Non-current assets	44,189		44,467
Current assets	5,280		5,099
TOTAL ASSETS	49,469		49,566
Non-current liabilities	72		76
Current liabilities	1,455		1,367
TOTAL LIABILITIES	1,527		1,443
EQUITY	47,942		48,123
Equity per share, EUR	4.09		4.11
	Group		Company
Profit (loss), thousand EUR	3 months of 2016	3 months of 2015	3 months of 2016	3 months of 2015
Revenue	1,047	830	-	-
Net changes in fair value of financial assets	(57)	683	(67)	668
Profit before income tax	(169)	1,255	(109)	882

LJB Investments, UAB Irena Ona Miseikiene Lucrum investicija, UAB Alvydas Banys Indre Miseikyte Other shareholders

Turnover of Invalda INVL, AB shares, change of share price and indexes

Key information about Invalda INVL, AB for 3 months of 2016

More information on the services and activity of asset management sector is provided on http://www.invl.com

AGRICULTURE FACILITY MANAGEMENT

During the reporting period in the agricultural sector Invalda INVL, AB owned 36.9  percent of Litagra, UAB (one of the largest groups of agriculture companies in the Baltic states) shares through the company Cedus Invest. At the end of 1st Quarter of 2016, Litagra shares were valued at EUR 14.3 million.

EUR million	3 months of 2016	3 months of 2015	3 months of 2014
Sales	30.9	17.2	19.4
EBITDA	0.4	0.4	0.8
Net profit	(0.5)	(0.4)	(0.1)

Invalda INVL, AB owns facility management companies Inservis, Priemiestis and Jurita. At the end of 1st Quarter of 2016 facility management companies were valued at EUR 4.3 million.

EUR million	3 months of 2016	3 months of 2015	3 months of 2014
Sales	1.6	1.7	1.3
EBITDA	0.2	0.2	0.2
Net profit	0.13	0.15	0.12

More information on the services and activity of the Litagra is provided on http://www.litagragroup.lt More information on the services and activity of the facility management companies is provided on: http://www.inservis.lt