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Invalda INVL Interim / Quarterly Report 2017
2247_rns_2017-05-30_69dc74f4-adaf-41b5-95ab-af0799e0892f.pdf
Interim / Quarterly Report
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INVALDA
INVL
KEY INFORMATION FOR 3 MONTHS OF 2017
Invalda INVL, operating since 1991, is one of the leading asset management groups in the Baltic region. Invalda INVL group currently manages a total of more than 20 mutual, real-estate and pension funds (2nd and 3rd pillar), alternative investments, individual portfolios, private equity and other financial instruments. Companies of the group engaged in asset management manage over 520 million euros of assets entrusted to them by more than 180,000 clients in Lithuania and Latvia as well as international investors. The shares of Invalda INVL have traded on the NASDAQ Baltic exchange since 1995.
Votes of shareholders of Invalda INVL as of 30-05-2017
30.40% LJB investments, UAB
29.14% Irena Ona Mišeikienė
22.81% Lucrum investicija, UAB
7.88% Alvydas Banys
2.05% Indrė Mišeikytė
7.72% Other shareholders
IVL1L Turnover and share price of Invalda INVL
| Net assets of the company, thousand EUR | Evaluation criteria | 31.12.2016 | 31.03.2017 |
|---|---|---|---|
| Investment into asset management | Equity method | 7,513 | 7,371 |
| Cash and cash equivalents | Book value | 384 | 66 |
| Deferred income tax asset | Book value | 164 | - |
| Investments into INVL Baltic Real Estate | Market price | 8,183 | 8,377 |
| Investments into INVL Technology | Market price | 2,978 | 2,690 |
| Other listed shares | Market price | 901 | 1,120 |
| Investments into Litagra (including loans granted) | Comparative method of multipliers | 15,371 | 16,208 |
| Investments into Šiauliai Bank | Market price | 11,505 | 13,299 |
| Investments into Inservis (including loans granted) | Comparative method of multipliers | 4,921 | 5,013 |
| Investments into other subsidiary companies (including loans granted) | Fair value of net assets | 965 | 931 |
| Other loans, other assets | Book value | 676 | 924 |
| Liebilities | Book value | (880) | (1,007) |
| Net assets of the company, thousand EUR | 52,681 | 54,992 | |
| Net Asset Value per share, EUR | 4.55 | 4.75 | |
| Main items of financial statements, thousand EUR | Company's | Group's | |
| --- | --- | --- | --- |
| 31.12.2016 | 31.03.2017 | 31.12.2016 | |
| Non-current assets | 51,667 | 53,949 | 48,581 |
| Current assets | 1,894 | 2,050 | 5,832 |
| Equity | 52,681 | 54,992 | 52,681 |
| Non-current liabilities | - | 101 | 82 |
| Current liabilities | 880 | 906 | 1,650 |
| 3 months of 2016 | 3 months of 2017 | 3 months of 2016 | |
| Result before taxes | (111) | 2,648 | (169) |
| Net result | (182) | 2,311 | (182) |
Invalda INVL, code 121304349, Gynėjų str. 14, Vilnius, Lithuania
www.invaldainvl.com
INVALDA
INVL
KEY INFORMATION FOR 3 MONTHS OF 2017
Asset management
INVALDA INVL manages licensed asset management companies INVL Asset Management in Lithuania and Latvia, brokerage company INVL Finasta and land administration company INVL Farmland Management.
Asset Management companies of Invalda INVL group earned over EUR 14.6 mln. for the clients during 3 months of 2017.
| EUR million
(if not stated otherwise) | 31.12.2016 | | 31.03.2017 | | |
| --- | --- | --- | --- | --- | --- |
| | Lithuania | Latvia | Lithuania | Latvia | Total |
| Number of clients, units | 126.2 | 52.2 | 129.4 | 51.1 | 180.5 |
| Asset under management | 422.4 | 86.3 | 438.0 | 83.8 | 521.8 |
| 2nd pillar pension funds | 238.5 | 55.9 | 261.6 | 55.6 | 317.2 |
| 3rd pillar pension funds | 15.5 | 1.2 | 16.6 | 1.2 | 17.8 |
| Investment funds | 71.5 | - | 63.0 | - | 63.0 |
| Portfolios | 39.2 | 0.6 | 36.9 | 0.6 | 37.5 |
| Alternative assets | 57.7 | 28.6 | 59.9 | 26.4 | 86.3 |
| Revenues (January – March) | 0.8 | 0.2 | 1.3 | 0.2 | 1.5 |
| Profit before tax (January – March, EUR thousand)** | (34) | (24) | (102) | 27 | (75) |
*eliminated investments into own products, for which management fee is not charged
** according to accounting data of Invalda INVL
More information about activities and services of the asset management sector is provided on www.invl.com.
Other investments
| Company | Activity | Owned shares, % | Value of the owned shares 31.03.2017, -thous. EUR | Indicators used for the net asset value of Invalda INVL calculation |
|---|---|---|---|---|
| TECHNOLOGY | ||||
| www.invltechnology.com | Closed-ended type investment company investing in information and communication technology businesses. | 13.9 | 2.69 | Share price EUR 1.59 |
| BALTIC REAL ESTATE | ||||
| www.invblattcrealestate.com | Closed-ended type investment company investing in commercial real estate. | 32.1 | 8.38 | Share price EUR 0.397 |
| LITAGRA | ||||
| www.litagragroup.lt | Crop and livestock (milk) production, grain processing and services for agriculture. On February 2017 share purchase – sale agreement was signed regarding sale of Litagra group trading business and grain elevators network. | 36.9 | 16.21 | Weighted EBITDA EUR 5,845 thous. EBITDA multiple 5.9-8.25 |
| SIAULIQ BANKAS | ||||
| www.sb.lt | The bank with the Lithuanian capital, listed on Nasdaq Vilnius stock exchange. | 6.79 | 13.30 | Share price EUR 0.519 |
| inservis | ||||
| INVESTOR INVESTORS | ||||
| www.inservis.lt | Group of facilities management companies. | 100 | 5.01 | EBITDA EUR 566 thous. EBITDA multiple 7.4 |
| KELEO ZENIKLAI | ||||
| www.keliozenklai.lt | Solid wood, metal and road maintenance equipment manufacturing company. | 100 | 0.92 | - |
Invalda INVL, code 121304349, Gynėjų str. 14, Vilnius, Lithuania
www.invaldainvl.com