Current investments

In 1994-1995, Invalda acquired the controlling interest in a furniture manufacturer Vilniaus Baldu Kombinatas (currently – Vilniaus Baldai). A little later a strategic decision was passed to start cooperating with the Swedish concern Ikea that currently purchases the entire output of Vilniaus Baldai. The influx of investment into production and restructuring of the company’s production processes (in 2004-2005) turned Vilniaus Baldai into one of the largest furniture manufacturers in Lithuania able to generate strong cash flows and return to investors. The company at all times puts continuous efforts to increase the efficiency and competitiveness of its performance this being the only way in order to stay in the global market.
In 2010, the sales of Vilniaus Baldai were reported at EUR 57 m (LTL 197 m).

In 1992, within the privatisation process Invalda invested into Vilniaus Baldu Kombinatas AB (currently – Vilniaus Baldai), and in 1995 the holding of Invalda was increased to controlling interest. A little later a strategic decision was passed to start cooperating with the Swedish concern Ikea that currently purchases the entire output of Vilniaus Baldai.

In 2004-2005, Vilniaus Baldai invested into the expansion of its production facilities EUR 11.58 m. (LTL 40 m). The company acquired from an insolvent plant in England a series of furniture manufacturing equipment that was installed in a new plant, in the premises acquired from Vilmakas, a company earlier taken over by Invalda. Following the reconstruction the premises of the new plant were used as a site for launching the production facilities using BOF (board on frame) technology.

Vilniaus Baldai is steadily investing into the enhancement of its performance efficiency and competitiveness. After starting to work with Ikea, the efficiency increased almost 10 times; the income per employee at Vilniaus Baldai was about EUR 137,000 (LTL 473,700) in 2010.

Real estate sector

Invalda started its activities in the real estate sector in 1994. As the managed assets portfolio was increasing, real estate servicing companies were incorporated specifically for the provision of intermediation and valuation services (Inreal), the real estate and project management (Inreal Valdymas). All these companies steadily hold leading positions in the Lithuanian market.
Invalda Group was also actively investing into buildings and structures of commercial, residential and logistics purposes (both new projects and the already developed property). 
The assets of the Invalda Group real estate companies in the end of 2010 were valued EUR 78.8 m (LTL 272.2 m). 

Invalda has been an active player in the Lithuanian real estate market since 1994. Within that period it has built a number of residential and commercial objects the total value whereof is EUR 100 m (LTL 29 mln), of which worth highlighting are the Business centre IBC, residential house complexes “Delfinas” and “Nida” in Vilnius, "Zuvintas" in Kaunas, "Holiday Inn" hotel in Vilnius, logistics centre IBC and others.

Late in 2005, Invaldos Nekilnojamojo Turto Fondas acquired the premises of 40,000 m² in area from Lietuvos Telekomas (currently – TEO LT), for which it paid EUR 20.9 m (LTL 72.2 m).

The major real estate transactions include the following:

• A deal under which in 2007 the Invalda Group companies sold three office buildings and two logistics centres in Vilnius and Kaunas to a company managed by Irish investors for EUR 22.8 m (LTL 78.85 m).
• At the end of 2008, an office building of 12,000 m² in area at Savanoriu ave. in Vilnius for EUR 8.7 m (LTL 30 m) was sold . 
• In February 2008, two office buildings sold at Vytenio and Jasinskio streets in Vilnius generated EUR 5.4 m (LTL 18.55 m).

In June 2008 Inreal joined international commercial real estate leaders network GVA Worldwide.

The real estate companies of Invalda Group were also acting in Latvia, where several projects in cooperation with the concern MG Baltic were developed, and also Ukraine. 

In 2011 Inreal Valdymas has started developing a new residential apartment house on Elniakampis street in Valakampiai. Construction of this small three-storey 17 apartment house of original architecture is to be finished by the end of 2011. Investment in the project totals EUR 1.6 m (LTL 5.5 m). 

Agriculture Sector

On December 15, 2011, Invalda AB, has acquired 36.9 % shares of Litagra UAB, one of the largest companies operating in the agricultural sector of Lithuania. The shares were acquired for 38.6 mLTL, including 37.1 mLTL of new capital injected to Litagra for the future business expansion. Funds invested into the new capital of Litagra will help the company strengthen both its services to farmers and grain trading businesses at the same time allowing the expansion of grain and milk production. The other objective is growth through acquisitions. The companies of Litagra Group are engaged in the primary crop and livestock (milk) production, grain processing and agricultural services. Group companies trade in plant protection products, fertilizers, seeds, compound feed, feed supplements, veterinary products. Moreover, companies trade grain, provide drying of grain and other raw materials, cleaning, loading and storage services. Group companies provide agricultural services in Lithuania, Latvia and Estonia. The largest companies in Litagra group are Litagros prekyba (with a branch Litagra Latvija), Litagros grudai UAB, Litagra OÜ in Estonia, Joniskio grudai AB, Taurages grudai AB, Marijampoles grudai AB, Kedainiu grudai AB, Aristava in the Kedainiai district, Berzu agricultural company in the Kedainiai district, agricultural company Bausai, agricultural company of the Kalpoku land, agricultural company of the Sesupes land, Slapaberzes agricultural company, Ranktineliu agricultural company and others. During the three quarters of 2011 the consolidated sales of Litagra Group were 271.7 mLTL (78.7 mEUR), i.e. 17.5% higher than during period of the last year (231.3 mLTL (67 mEUR)). EBITDA of Litagra Group during the appropriate period has increased by 19% - from 16.3 mLTL (4.7 mEUR) to 19.4 mLTL (5.6 mEUR).

Rail and road infrastructure

Late in 2005, Invalda in cooperation with their partners acquired one of the largest in Lithuania road building company Kauno Tiltai. Following the acquisition in Lithuania, the company opted to follow a strategy of expanding its presence in the much larger market of Poland. Due to a number of acquisitions and the organic expansion strategy, within next five years the revenues of the road building company group increased from EUR 45.6 m (LTL 157.6 m) in 2005 to more than EUR 0.35 b (LTL 1.2 b in 2010). In April 2011, Polish listed rail infrastructure construction group Trakcja – Tiltra (former company name Trakcja Polska) acquired Tiltra Group and Kauno Tiltai for PLN 777 m. Former Tiltra Group shareholders realized part of their investment and has become minority shareholders in Trakcja - Tiltra.

Trakcja - Tiltra is Polish rail infrastructure market leader engaged in the rail and tram infrastructure construction and assembling projects. In 2011 Trakcja - Tiltra acquired Tiltra Group companies, engaged in road and bridge construction in Poland and Lithuania.

Trakcja – Tiltra shares are quoted in the Warsaw Stock Exchange. Strategic investor of the company is Spanish Comsa Emte group, which manages 35 percent of shares.

The largest Trakcja - Tiltra group companies are PRKiI, Poldim, Kauno Tiltai and PEUiM.

In 2010 income of Trakcja – Tiltra amounted to PLN 427.2 m (not included EUR 0.35 b (LTL 1.2 b) income of Tiltra Group companies acquired in April 2011).

Invalda invested into Trakcja - Tiltra in 2011, during Trakcja - Tiltra and Tiltra Group merger transaction, held in April. Invalda has acquired 12.5 percent of Trakcja - Tiltra shares for PLN 132.5 m and became the second largest shareholder in the company.

In 2007, in cooperation with a team of highly experienced information technology (IT) specialists Invalda AB incorporated  BAIP Group (former name - Positor) – an IT investment vehicle that implemented three acquisition transactions in the Lithuanian and foreign  IT infrastructure, and currently ranks among major Lithuanian companies in the sector.

In June 2007, Invalda, in cooperation with an information technologies specialist group established an IT investment company BAIP Group (former name - Positor) in which Invalda holds an 80 percent interest. In late December 2007, BAIP Group acquired the company BAIP (former name - Baltic Amadeus Infrastrukturos Paslaugos) for which it paid EUR 2.9 m (LTL 10 m). 

As part of the further expansion strategy BAIP Group also acquired other smaller IT companies – Informatikos Pasaulis and Acena.

The revenues of IT sector in 2010 amounted to EUR 8 m (LTL 27.7 m). In 2010 BAIP Group actively worked in banking and financial enterprises sector by delivering equipment supply, data migration, IT infrastructure design and maintenance services in this way supporting a smooth system performance and protection of important data.

In 2011 BAIP together with partners designed and introduced at Vilnius University a supercomputer, which will allow scientists to perform a new quality of multidimensional calculations.

In November 2011 BAIP Group acquired 100 percent shares of Norwegian company Norway Registers Development for 1.2 mEUR. ). Norway Registers Development owns 70.73 percent shares of NRD UAB in Lithuania. Norway Registers Development has for already 15 years been participating in the creation of new register reforms in various countries and providing consultancy on the information system design. Its activity comprises the processes from the political commitment to the project designing, implementation support and execution as well as register operation and maintenance.

Facility management sector

Invalda group operates in facility management sector since 1994. Then in the company Invalda Real Estate a separate unit engaging in such activities was formed. Later facility management business divided into a separate company and services were started to provide to external customers. In early 2011 a companies Inreal Pastatu Prieziura and Priemiestis (acquired in 2010 from Vilnius city municipality) were in Invalda group. Area of managed buildings by these companies almost reached 1 million square meters, its turnover in 2010 exceeded EUR 2.9 m (LTL 10 mln). A company Jurita joined the facility management sector in August 2011.

Since 2011, facility management sector was divided into a separate sector in Invada’s statements, because it is intended to allocate resources for its development both organically and through acquisitions.

Inreal Pastatu Prieziura is one of the strongest companies in its field. It can provide all the facilities management services ranging from engineering to system maintenance facilities and clean-up or physical protection. Inreal Pastatu Prieziura is certified and meets the quality management standard ISO 9001:2008.

Priemiestis supervises residential houses in Vilnius New Vilnia district, also administers the New Vilnia marketplace.

In Justiniskes Jurita supervises 76 blocks of flats, which total area is about 151.7 thousand square meters.

Other companies

Activities – the production of solid wood, metal and road maintenance equipment.

Kelio Zenklai started its activities in 1981 as a road sign production workshop of the State enterprise Granitas; in 1994, Kelio Zenklai started operating as an independent economic entity. In 2003, the Invalda Group acquired the company Kelio Zenklai from the State property Fund.

Following this acquisition the scope of activities of Kelio Zenklai was significantly expanded and currently includes the following areas: metal and wood processing, furniture, staircase, road sign production and wholesale trade in different materials.

Currently Invalda owns 100 percent of Kelio Zenklai shares. In 2010 Kelio Zenklai received  EUR 2.2 m (LTL 7.6 m) income.