For 9 months of 2015, the unaudited consolidated net profit of the AB INVL Baltic Real Estate group and the part of profit attributable to the shareholders of AB INVL Baltic Real Estate was EUR 1.87 million.
Additional information:
INVL Baltic Real Estate, the NASDAQ Vilnius exchange-listed company which invests in real estate, had revenue of EUR 4.156 million in nine months of this year and a net profit of EUR 1.87 million for the period. Because INVL Baltic Real Estate began operations in April 2014, there are no comparable figures for last year.
In the third quarter of this year, INVL Baltic Real Estate had a profit of EUR 1.253 million. The value of INVL Baltic Real Estate's equity capital at the end of September 2015 was EUR 16.4 million, or EUR 0.38 per share.
“The company’s steadily improving results are due to growing revenue and strict control of costs. Transactions that were concluded also contributed to the success of the third quarter,” said Andrius Daukšas, the CEO of INVL Baltic Real Estate.
In early July, INVL Baltic Real Estate completed a EUR 3.1 million transaction to increase its stake in the Latvian logistics centre Dommo to 100%. The Latvian companies Domma Grupa and Dommo Biznesa Parks, whose shares are 100% owned by INVL Baltic Real Estate group, altogether hold the 12,800 square-meter logistics centre and 58 hectares of land.
In August, INVL Baltic Real Estate group completed the sale of shares in UAB INTF Investicija, booking a profit of EUR 366 thousand on the transaction.
At the start of October, INVL Baltic Real Estate acquired 6,500 square metres of commercial property at the Vilnius Gates complex in the Lithuanian capital (address: Gynėjų St. 14). Under the agreements, if the parties fulfil the established conditions, a sum of EUR 7.75 million not including VAT may be paid for this property
“To finance this acquisition and balance the ratio of equity and debt capital, we’re going to offer more than 10 million euros of new shares. The issue will be available to both professional investors and small investors who want to invest smaller amounts,” Andrius Daukšas said.
The share issue is also meant to attract investments in the company’s diversified real estate portfolio, which will comprise about 58,200 square metres of commercial real estate in Vilnius and Riga, including the premises at Vilnius Gates.
Balancing of the company's ratio of debt and equity capital is sought before it becomes a closed-end type investment company. Once this status is obtained, management of the company will be transferred by way of trust to the asset management company INVL Asset Management.
On 17 August this year, the reorganisation of the real estate investment company INVL Baltic Real Estate and its 100%-controlled Invalda Nekilnojamasis Fondas was also completed, after which the companies merged. Following the merger, the company operates under the name INVL Baltic Real Estate.
INVL Baltic Real Estate manages roughly 58,200 square metres of real estate premises in Vilnius and Riga.
Person authorised to provide additional information:
CEO Andrius Daukšas
E-mail: andrius@invaldalt.com
INVL Baltic Real Estate Confirmation of responsible persons 2015 3Q.pdf
INVL Baltic Real Estate financial reports 2015 IIIQ.pdf
INVL Baltic Real Estate fact sheet 2015 IIIQ.pdf
