OREANDA-NEWS. On 21 May 2009 was announced, that according to the company IFRS-based financial statements, the net assets value of PAVA increased 4 times compared to 2007.

The major factor for this dynamics is creation of a vertically integrated structure, re-organizing and streamlining operations. Throughout 2008, PAVA sought to maximize feedstock security and significantly expanded the land bank. Later, the land assets have undergone revaluation accounting for further increase of capital.

Secondly, the growth of the company’s retained earnings has had an impact on the net assets value. In 2008 this figure was up by 31.1% from the previous period and reached USD17,088,000.