OREANDA-NEWS. Unaudited results of Invalda AB group for the period of 12 months ending on December 31, 2012:

- consolidated net profit attributable to shareholders of Invalda AB totaled to 23.3 million litas (€ 6.7 million), (in the same period of 2011 it was 209.0 million litas (€60.5 million));

- total consolidated net profit amounted to 30.7 million litas (€8.9 million), (in the same period of 2011 it was 216.5 million litas (€62.7 million)).

Net profit of the Company for the same period amounted to 20.9 million litas (€6.05 million) (Company’s net profit for 2011 totaled to 274.9 million litas (€79.6 million)).

A review of the results of Invalda AB group for 12 months of 2012:

Invalda AB, one of the largest investment companies in Lithuania, earned unaudited consolidated net profit of 23.3 million litas (€6.7 million) attributable to the parent company within 2012. This is 9 times less than in the same period of 2011 when the profit was 209.0 million litas (€60.5 million).

In 2012 Invalda AB allocated 59.6 million litas (€17.3 million) for the share buy-back program. Currently another share buy – back program has been started; the total amount of 42.9 million litas (€12.4 million) has been allocated for it.

D. Kaziunas explained, that the split – off terms of Invalda AB has been announced recently; according to those terms, a part of Invalda AB will be split – off and on the basis of this part a new public joint – stock company Invalda Privatus Kapitalas AB will be formed. In the split – off, 45.45 percent of the total assets of the Company (a balance sheet value of the Company’s assets at the end of 2012 totalled to 372.1 million litas (€107.8 million)) as well as 45.45 percent of the Company’s equity capital and liabilities will be allocated to the newly established entity.

The furniture manufacturing sector, where Invalda AB controls 72 percent stake in the largest Lithuanian furniture manufacturing company Vilniaus Baldai AB, earned 19.4 million litas (€5.6 million) of unaudited net profit for Invalda AB, i.e. 0.1 million litas (€0.03 million) more than in January-December of 2011 (19.3 million litas (€5.6 million)). In 2012, sales of Vilniaus Baldai AB reached 230.1 million litas (€66.6 million) or 3.5 per cent less than the sales in 2011 (238.4 million litas (€69.0 million)). Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) totalled to 34.8 million litas (€10.1 million) (in 2011 it was 36.1 million litas (€10.5 million)). Having eliminated the influence of one-off costs in 2012, EBITDA totalled to 37.8 million litas (€10.9 million) and exceeded EBITDA for 2011 by 2.4 percent (36.9 million litas (€10.7 million)). In 2012, the company earned a net profit of 26.8 million litas (€7.8 million). Vilnius Baldai AB announced that the amount of about 27 million litas (€7.8 million) will be allocated for the investments during the period of 2012-2013.

The loss in the real estate sector for 2012 amounted to 11.1 million litas (€3.2 million) (in 2011 it was 17.8 million litas (€5.2 million)). The loss was caused by revaluation of investment property, which reduced the value of assets by 8.7 million litas (€2.5 million), to 226.8 million litas (€65.7 million). In 2012 Invalda AB group company started a development of the complex of 20 residential apartments and 4 commercial premises Danes Uzutekis in the old town of Klaipeda as well as the construction of the new 40 residential apartment house Kopu Vetrunges in Kursiu Nerija.

In the facility management sector, where Invalda AB owns Inreal Pastatu Prieziura UAB and other companies, sales grew by 24.3 percent up to 13.3 million litas (€3.9 million), loss totaled to 0.3 million litas (€0.1 million).

The agricultural sector, where Invalda AB owns 36.8 percent shares in Litagra UAB, earned a profit of 7.2 million litas (€2.1 million) to Invalda AB. A turnover of Litagra UAB (by the Business Accounting Standards) during the 2012 increased by 34.9 percent, to 429.2 million litas (€124.3 million), and net profit amounted to 20.3 million litas (€5.9 million).

In the information technology infrastructure sector (Invalda AB owns 80 percent of BAIP Group UAB in this sector), Invalda AB incurred a loss of 1.1 million litas (€0.3 million). Consolidated turnover was 40.2 million litas (€11.6 million) or 16.5 percent less than 2011 (34.5 million litas (€10.0 million)).

Other important twelve months and post-balance sheet events:

On February 13, 2013 the Board of Invalda AB published the drawn – up the Company‘s split – off terms and initiated a share buy – back program for acquisition of up to 10 percent of the treasury shares. According to the publicly announced split – off terms, a part of Invalda AB will be split – off and on the basis of this part a new public joint – stock company Invalda Privatus Kapitalas AB will be formed. In the split – off, 45.45 percent of the total assets of the Company (a balance sheet value of the Company’s assets at the end of 2012 totaled to 372.1 million litas (€107.8 million)) as well as 45.45 percent of the Company’s equity capital and liabilities will be allocated to the newly established entity.