{"id":13147,"date":"2011-02-28T00:00:00","date_gmt":"2011-02-27T22:00:00","guid":{"rendered":"https:\/\/www.invaldainvl.com\/press-releases\/a-profit-of-invalda-group-for-2010-amounts-to-ltl-40-7-m\/"},"modified":"2011-02-28T00:00:00","modified_gmt":"2011-02-27T22:00:00","slug":"a-profit-of-invalda-group-for-2010-amounts-to-ltl-40-7-m","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/press-releases\/a-profit-of-invalda-group-for-2010-amounts-to-ltl-40-7-m\/","title":{"rendered":"A profit of Invalda Group for 2010 amounts to LTL 40.7 m"},"content":{"rendered":"\n

In 2010 Invalda<\/em> Group earned LTL 40.7 million consolidated net profit attributable to shareholders of the parent company. In 2009 a loss in the real estate sector has resulted in LTL 88.6 million loss.<\/p>\n

\u201cWe think than last year’s results were good – all the main our businesses were profitable, and generally reached their objectives. We’ve made steps to strengthen Invalda\u2019s<\/em> capital base – a new LTL 50 million value shares were issued, the majority of banks liabilities were turned into long-term\u201d, – said Darius \u0160ulnis, the president of Invalda<\/em>. <\/p>\n

According to him, last year the focus was on adding value to existing businesses. Moreover, some small acquisitions were implemented.<\/p>\n

Pharmaceutical sector, in which Invalda owns 26.5 percent of Sanitas<\/em> shares, in 2010 earned for Invalda<\/em> LTL 14.1 million net profit. Sanitas<\/em>\u2019 group most of the income receives in Russia and Poland. A turnover of this group last year grew by 5.2 percent to LTL 339.4 million and net profit  increased three times up to LTL 53.3 million.<\/p>\n

\u201cWe consider that the result of the year and trends are good\u201c, – said D. \u0160ulnis.<\/p>\n

Furniture manufacturing sector, in which Invalda<\/em> owns 72 percent of Vilniaus Baldai<\/em> shares, earned for Invalda<\/em> LTL 20 million profit, or 78.6 percent more than in 2009 (LTL 11.2 million). Income of Vilniaus Baldai<\/em>, exporting the entire production, grew by 32.4 percent to LTL 197.2 million and net profit amounted to LTL 27.8 million.<\/p>\n

\u201cThe achieved results are the best in the company\u2019s history. A goal to the company is to continue to grow and improve its activities\u2019 performance. We hope that the volume growth can offset decreasing margins\u201c, – said D. \u0160ulnis.<\/p>\n

Road and bridge construction sector, in which Invalda<\/em> owns 43.4 percent of Kauno Tiltai<\/em> and 44.8 percent of Tiltra Group<\/em> shares, in 2010 brought to Invalda<\/em> LTL 10.1 million profit. In November a merger agreement with the Polish rail infrastructure construction market leader Trakcja Polska<\/em> was signed.<\/p>\n

\u201cAccording to our estimation, a year was efficient and may have material impact on the sector\u201d, – said D.\u0160ulnis.<\/p>\n

The information technology sector, in which Invalda<\/em> owns 80 percent of BAIP Group<\/em> shares, in 2010 gave to Invalda LTL 0.5 million loss. Excluding the depreciation of intangible assets accumulated after the acquisition and management share based payment expenses, BAIP Group<\/em> profit reached LTL 0.7 million. BAIP Group<\/em> revenues increased 8.6 percent to LTL 27.7 million. <\/p>\n

End of the year was successful for BAIP Group<\/em>. The company’s team, customer base and experience in the market increased, therefore, we believe that in 2010 the foundations for further growth of BAIP Group<\/em> were laid down\u201d, – said D.\u0160ulnis<\/p>\n

Real estate sector in 2010 earned for Invalda<\/em> LTL 1.1 million profit. In 2009 a decline in property values resulted in LTL 115.8 million loss.<\/p>\n

\u201cThe sector generates positive cash flows. During 2010 we exited from non-viable real estate projects, could stabilize rental income and changes in the value of the investment property didn\u2019t change significantly\u201d, – said D.\u0160ulnis.<\/p>\n

According to him, a more active work with some projects is more active in the real estate sector. Also analysis of new possibilities is executed.<\/p>\n

Seeking to expand facilities management services, a company Priemiestis<\/em>, maintaining apartment houses in Naujoji Vilnia, a district of Vilnius, was acquired during a privatization for LTL 2.25 million.<\/p>\n

About Invalda
Invalda AB<\/em> is one of the major Lithuanian investment companies whose primary objective is to steadily increase the investor equity value. For the purpose of attainment of this objective Invalda actively manages its investments, exercising control or significant influence over target businesses.
The largest part of Invalda<\/em> group activities are performed in Poland and Lithuania.
Invalda\u2019s<\/em> shares have been listed since December 19, 1995 (then – at the National Stock Exchange). From the January 1, 2008 the company\u2019s shares have been on the Main List of NASDAQ OMX Vilnius stock exchange.<\/p>\n

Additional information:
– consolidated and company’s unaudited financial statements for 12 months of 2010<\/a>;
– presentation of preliminary Invalda AB group results for 2010<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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