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Invalda INVL Investor Presentation 2014
2247_rns_2014-09-23_b19ea366-3905-4261-8a0b-d6749972ba95.pdf
Investor Presentation
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INVALDA
Acquisition of MP Pension Funds Baltic
23 September 2014, Vilnius
Acquisition details
Invalida LT group acquired 100 percent of the specialised pension funds management company MP Pension Funds Baltic. The acquisition of shares was executed on 23 of September.
- The value of the acquisition transaction – EUR 3.3 million.
- 62 thousand customers are using services provided by MP Pension Funds Baltic. As of 22 September 2014 the company managed EUR 90 million of assets.
- The acquisition is a long-term and strategic investment of Invalida LT into pension fund management business.
- Invalida LT plans to retain the acquired company’s team and management as well as further expand company’s activities.
/ INVALDA
About MP Pension Funds Baltic
- Company specializes in pension fund management, provides pension accumulation and long-term savings solutions.
- Established by Iceland MP Bank in 2007.
- Company's objective is to seek for the best risk and return proportion for the clients of the managed pension funds.
- The company manages three 2nd pillar and two 3rd pillar pension funds.
- 54 % of company's clients allocates additional personal savings in the 2nd pillar pension fund by paying extra installments (2+2+2 system).
More information:
www.mpensija.lt
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The board of MP Pension Funds Baltic
Darius Šulnis, Member of the Board
Darius Šulnis has accumulated a fifteen years experience in incorporating and managing businesses leading in their respective sectors, implementing different mergers and acquisitions (privatization, taking over and acquisition of minority interest, incorporation and hostile take-overs), by attracting investment and cooperating with other strategic and financial investors.
Jón Sigurðsson, Member of the Board
J. Sigurðsson is a well known independent advisor and a consultant specializing in economics and finance. J. Sigurðsson gained experience by working at various banks in Iceland and other countries. He was the CEO and the Chairman of the Board at the Bank of Iceland. J. Sigurðsson was also the minister of commerce, banking, industry and energy, justice and human rights, foreign affairs of west countries. He was elected in Iceland parliament.
Alvydas Banys, Member of the Board
Alvydas Banys was involved in real estate businesses, hotel management as well as in management of manufacturing companies. He possesses a versatile experience in business establishment, selling and reorganization of companies, working optimization, risk distribution and various management and financing methods.
Nerijus Drobavičius, Member of the Board
Nerijus Drobavičius has 16 years experience in analysis, development and implementation of processes, procedures as well as in setting up management controls enabling the mentioned processes. He supervised teams that were responsible for such implementations in various divisions and companies (consulting, finance, manufacture).
Vytautas Plunksnis, Member of the Board
Vytautas Plunksnis holds experience in managing investment and pension funds, which invest in Central and Easter Europe. He also has experience in acquisitions and implementation of various transactions, managing business processes and development strategy. Vytautas Plunksnis is the Chairman of the Board at the Association of Investors.
Ramūnas Stankevičius, CEO
Ramūnas Stankevičius is the CEO of MP Pension Funds Baltic since the establishment of the company in 2007. Before this position, he was the Chairman of the Board and administration officer at Lithuanian Central Credit Union. Currently Ramūnas Stankevičius is also a member of the investment committee at MP Pension Funds Baltic.
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Market share of II pillar pension funds
- MP Pension Funds Baltic, UAB holds 4.68 percent of market share by managed assets at 2nd pillar pension funds.
- MP Pension Funds Baltic, UAB is the fifth biggest pension accumulating company in Lithuania by manageable assets and number of customers.
II pillar pension funds' assets distribution by pension accumulation companies.
Source: The Bank of Lithuania, data as of 30-06-2014
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MP Pension Funds Baltic is a leader: the results of II pillar pension funds (1)
Pension accumulation company and the pension fund
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- Danske Capital Investiciju Valdymas, UAB Danske Pensija 50
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- DNB Investiciju Valdymas, UAB DNB Pensija 3
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- ERGO Life Insurance SE ERGO Balans
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- Finasta Asset Management, UAB Finasta Aktyvaus investavimo
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- SEB Investiciju Valdymas, UAB SEB Pensija 2
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- Swedbank Investiciju Valdymas, UAB Swedbank Pensija 3
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- Swedbank Investiciju Valdymas, UAB Swedbank Pensija 4
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- AVIVA Lietuva, UAGDPB Aviva Europensija Ekstra
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- Finasta Asset Management, UAB Finasta Subalansuotas
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- MP Pension Funds Baltic, UAB MP Medio II
*IRR (internal rate of return) shows, the average growth (percent) per annum on the each transfer (investment) into pension funds made by SODRA. IRR takes into account all pension fund deductions as well as time of the transfer of funds.
Source: the Bank of Lithuania.
Data is provided since the establishment of firms' activities (data as of 31-03-2014)
Comment: THE BANK OF LITHUANIA WARNS AND POINTS OUT THAT:
Historical results (represented by this figure) does not guaranty, that the same or similar results can be anticipated in the future.
Taking into account IRR, it is necessary to pay attention to the fact that the start of the activity of pension funds was not the same, it is important to take into account the period of operation of the fund. The best decision would be to compare the funds, operating during the same period.
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MP Pension Funds Baltic is a leader: the results of II level pension funds (2)
SHARE'S PENSION FUNDS (70-100 PERCENT)
Pension accumulation company and the pension fund
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- Danske Capital Investiciju Valdymas, UAB Danske Pensija 100
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- Finasta Asset Management, UAB Finasta Racionalios Rizikos
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- SEB Investiciju Valdymas, UAB SEB pensija 3
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- Swedbank Investiciju Valdymas, UAB Swedbank Pensija 5
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- MP Pension Funds Baltic, UAB MP Extremo II
IRR*
Source: Bank of Lithuania. Data is provided since the establishment of firms' activities (data as of 31-03-2014)
Comment: THE BANK OF LITHUANIA WARNS AND POINTS OUT THAT:
Historical results (represented by this figure) does not guaranty, that the same or similar results can be anticipated in the future.
Taking into account IRR, it is necessary to pay attention to the fact that the start of the activity of pension funds was not the same, it is important to take into account the period of operation of the fund. The best decision would be to compare the funds, operating during the same period.
*IRR (internal rate of return) shows, the average growth (percent) per annum on the each transfer (investment) into pension funds made by SODRA. IRR takes into account all pension fund deductions as well as time of the transfer of funds.
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Results of MP Pension Funds Baltic
| Euros, if not stated otherwise | 2012 | 2013 |
|---|---|---|
| Number of customers, unit | 41 603 | 57 656 |
| Total value of managed assets | 48 193 488 | 73 018 360 |
| Income | 491 643 | 702 588 |
| Cost of sales | 505 387 | 308 029 |
| Administration cost | 541 146 | 636 657 |
| Result before taxes | (627 097) | (329 073) |
| Net result | (627 097) | 277 505 |
| Owners’ equity | 1 147 739 | 1 868 623 |
/ INVALDA
About Invalda LT
- Invalda LT, AB - is one of the major companies in Lithuania investing in other businesses and managing assets.
- The start of activity – 1991.
- The company is the only one out of a few hundred investment joint-stock companies that has created a value of a few hundred million litas for the shareholders.
- The shares are listed on NASDAQ OMX Vilnius market since 1995.
- The company's shares grew more than 50 times, since the company was listed on the market.
- Amount of shareholders of the company is nearly 4000. Capitalization – EUR 33 million. Capitalization of the specialised companies separated from Invalda LT and listed on the stock exchange since June 2014 – EUR 28 million.
- Value of executed transactions – EUR 1.2 billion.
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Group structure of Invalda LT
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Is currently seeking for the management company license issued by the Bank of Lithuania and intends to manage funds and closed-end investment companies.
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Intended management
- Management
- Ownership
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The Board of Invalda LT
Alvydas Banys – Chairman of the Board
After graduating from Vilnius Gediminas Technical University, Alvydas Banys worked as a junior scientific co-worker in Economic's Institute of Lithuania's Science Academy for two years. 1996 - 2006 he held a position as the vice president of Invalda LT, AB. 1996 - 2000 he was a Board Member of the Company, and from 2001 to 2007, he held a position as the Chairman of the Board. While working in the Company, Alvydas Banys took part in the real estate business, hotel management as well as management of manufacturing company's. Currently, Alvydas Banys is the Chairman of the Board at Invalda LT, INVL Baltic Farmland, INVL Baltic Real Estate, INVL Technology and Invalda LT Investments. He is also a Member of the Board at Litagra, UAB and BAIP group, UAB.
Indrė Mišeikytė – Member of the Board
Indrė Mišeikytė has graduated architecture studies in Vilnius Gediminas Technical University. From 1994 till 1996 she worked in Vilniaus Baldai, AB, later - in real estate and investment companies Gildeta, UAB, Kremi UAB. From 2002 she works as an architect in Inreal Valdymas, UAB. As of April 2012 she is a Member of the company's Board. Currently, Indrė Mišeikytė is a Member of the Board at INVL Baltic Farmland, INVL Baltic Real Estate, INVL Technology. Since 2013 she is a Member of the Board at Invalda Privatus Kapitalas, AB.
Darius Šulnis – Member of the Board, President
Darius Šulnis acquired his Master's degree in accounting and audit at Vilnius University. In 2013 Darius finished his studies at Duke University (USA) and acquired the degree of Master of Business Administration. He had been managing the financial brokerage firm Finasta for eight years and a real estate company Inreal Valdymas, UAB for four years. Darius Šulnis was a Member of various Boards and Supervisory Boards at number of Polish, Latvian and Lithuanian companies. Darius Šulnis now holds a position as the President and a Member of the Board at Invalda LT, AB. Also he is a Member of the Board at Invalidos Nekilnojamojo Turto Fondas, AB; Litagra, UAB; BAIP grupė, UAB and Invalda LT Investments, UAB. Furthermore Darius Šulnis now holds a position as the director and a Member of the Board at INVL Baltic Farmland, AB; INVL Baltic Real Estate, AB and INVL Technology, AB.
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Invalda LT participation in the market
| Vilniaus Baldai, AB | I UMEGA
Umega, AB | VI EHTSE
Umega, AB |
| --- | --- | --- |
| Activity – furniture manufacturing
Invested (1994-2013) – EUR 5.21 million
Sold (2013-2014) – EUR 59.9 million | LUMEGA
Umega, AB | Sanitas, AB
HOECHST-BIOTIKA |
| Activity – metal processing
Invested (1994-2011) – EUR 0.6 million
Sold (2012) – EUR 1.36 million | TILTRA | TILTRA |
| Acivity – generic medicines manufacturing
Invested (2003-2009) – EUR 43.82 million
Sold (2008-2011) – EUR 123.9 million | GO
HOECHST-BIOTIKA | Agrowill Group, AB |
| Acivity – road and bridge construction
Invested (December 2005 - 2007) – EUR 7.2 million
Sold (2011) – EUR 52.9 million | TILTRA | Agrowill Group, AB |
| Tetra
Finasta
Activity – finance and investments
Invested (1998) – EUR 13.8 million
Sold (2009) – EUR 22.46 million | Volterra | Hidroprojektas, UAB |
| Activity – hotel management
Invested (1995-2003) – EUR 4.3 million
Sold (2008) – EUR 19.8 million | AG | Girių Bizonas, UAB |
| Hidro
Voltera, UAB
Activity – insurance brokerage services
Invested (2004) – EUR 18 thousand
Sold (2007) – EUR 115.8 thousand | Apzeldinimas, UAB
Apzeldinimas, UAB | Klaipedos Konditerija, AB
Klaipedos Konditerija, AB |
| Azuolas, AB
Activity – production of soft furniture
Invested (1992-1999) – EUR 0.1 million
Sold (2000) – EUR 0.6 million | Medienos plausas, AB
Activity – manufacturing of soft fibreboards and moulded-fibre packaging
Invested (1992) – EUR 0.15 million
Sold (1997-1998) – EUR 4.9 million | Vilniaus |
The above are the following changes to the market in the case of the product and services described in the above.
Other investments
Invalda LT, AB had been managing shareholdings in Visagino Duona, Birstono Mineraliniai Vandenys, Kedainiu Biochemija, Vilniaus Paukstynas, Zagares Zirgynas, Naujieji Verkiai, Grigiskes, Liejiniai, Jonavos Agroservisas, Sirijus, Lietkabelis, Vilniaus Vingis, Klijai, Rudalita, Senasis Merkurijus, Melioservisas, Galincius, Veruga, Medisteka, Epusis, Staduva, Vilbaldas, Bankas Hermis, Vilniaus Bankas, and a number of other companies.
Dividends (if allocated) were count in with the amount of purchase.
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Disclaimer
- The presentation was prepared by Invalda LT, AB.
- Management company and closed-end investment companies need licenses issued by the Bank of Lithuania. There are no guarantees these licenses will be issued.
- The information was acquired from the third-party resources and it is considered reliable. However, some data might have changed from its publication date till preparation of this presentation.
- This presentation is not a proposal to buy or sell securities, to provide investment services or investment advice. This presentation or any part of it shall not be the basis for the conclusion of a contract, commitment or investment decision.
- The company is not responsible for any decisions made by third persons based solely on the information disclosed in this presentation.
- Data provided here is for information purposes only.
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Contact information:
Invalida LT, AB
Šeimyniškių str. 1A, LT-09312 Vilnius, Lithuania
Tel. +370 5 279 0601
[email protected]
www.invaldalt.com
MP Pension Funds Baltic, UAB
Savanorių pr. 349, LT-51480 Kaunas, Lithuania
Tel. +370 700 55959
[email protected]
www.mpensija.lt
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