OREANDA-NEWS. April 09, 2015. Audited results of Invalda LT, AB group for the period for 2014: 

- consolidated net profit attributable to shareholders of Invalda LT, AB totalled to EUR 4.0 million (LTL 13.9 million). In the same period of 2013 it was EUR 31.1 million (LTL 107.3 million);
- total consolidated net profit amounted to EUR 4.0 million (LTL 13.8 million). In the same period of 2013 it was EUR 31.4 million (LTL 108.5 million).

The net profit of Invalda LT, AB for 2014 amounted to EUR 20.5 million (LTL 70.8 million). In the same period of 2013 the profit of the company amounted to EUR 23.5 million (LTL 81 million).

The net profit of the group is 29.8 percent bigger than the last announced unaudited result of 12 months 2014. The main factors influenced the profit growth were increase in investments in the facility management company Inservis (including loans granted) from EUR 3.125 million to EUR 3.952 million, after specifications made in the compatible multiplier, also, change of the investment value to Litagra (including loans granted) from EUR 14.568 million to EUR 14.909 million.

Additional information:

Invalda LT,  one of the largest investment and asset management companies in Lithuania, is going to change its corporate name to Invalda INVL.

"We are in asset management business since 1991 and this business is strategic for Invalda LT. We intend to use INVL brand name in further development of asset management business, therefore we propose corporate name change of the parent company”, - said Darius ?ulnis, president of Invalda LT.

According to him, brand name INVL is also used by companies holding specialized assets, which were spun-off from Invalda LT – INVL Baltic Real Estate, INVL Baltic Farmland and INVL Technology.

The resolution regarding the change of the corporate name of the company is included into the agenda of the shareholders meeting of Invalda LT to be held on 30 April.

Board of Invalda LT also proposes for shareholders to authorize a buy-back of up to 10 per cent of own shares. Minimum buy-back price of one share is 3 euro and the maximum price should not exceed book value per share before the initiation of the buy-back. Decision should be valid for 18 months.

"We would like to have a possibility to initiate buy-backs by the board’s decision. Buy-backs could be executed to eliminate discount from book value or to pay free cash back to shareholders”, - said D. ?ulnis.

Shareholders are also asked to confirm the audited results for 2014. At the end of 2014 net asset value of Invalda LT amounted to EUR 44.5 million, or 3.75 euros per share. During 2014 Invalda LT earned EUR 20.5 million of net profit.