OREANDA-NEWS. Unaudited consolidated net profit as well as consolidated net profit attributable to shareholders of INVL Baltic Real Estate amounted to LTL 476 thousand (EUR 138 thousand).

The financial statements cover the interim financial period of the company, starting from the company's establishment date 29 April 2014 and ending on 30 September 2014, therefore there are no comparative data.

INVL Baltic Real Estate, the company investing into real estate, consolidated equity was equal to LTL 49.774 million (EUR 14.42 million) or LTL 7.07 (EUR 2.05) per share at the end of the nine months of 2014.

INVL Baltic Real Estate has started its activity in the end of April 2014 after a separation from Invalda LT, one of the major companies in Lithuania investing in other businesses and managing assets. Due to this fact, income and profit announced represent only five months of activity. The rental income amounts to LTL 6.068 million (EUR 1.76 million) and the net profit is LTL 476 thousand (EUR 138 thousand).

The largest subsidiary company of INVL Baltic Real Estate, Invaldos Nekilnojamojo Turto Fondas, AB signed a loan agreement with Siauliu Bankas regarding LTL 53 million (EUR 15.35 million) loan at the end of the third quarter of 2014.

The term of the agreement is 5 years. Invaldos Nekilnojamojo Turto Fondas will refinance a loan of another financial institution.

"Having a long term bank financing, will enable us to concentrate on a long term goals to increase value and maximise returns to investors," - Darius Sulnis, a director of INVL Baltic Real Estate, said.

Group companies of INVL Baltic Real Estate have about 51 700 sq. m of the real estate space in Vilnius and Riga.