INTERIM REPORT JAN-MAR 2019
INTERIM REPORT JAN-MAR 2019
Book value of fixed assets amounts to 24,733.2 (21,924.3) TEUR
- Equity amounts to 1,117 EUR (1,034) per share
- Earnings per share -0.028 (0.008) EUR
- Property holdings amount to 10,614 (9,665) hectares
- Timber volume is estimated to 1,015,000 (1,035,000) cubic meters
- Turnover was 75.2 (49.6) TEUR
- Operating profit was -541,7 (-111.2) TEUR
- Changes in forest value amounted to 0 (333.0) TEUR
- Profit/loss after tax amounted to -575.3 (155.2) TEUR
(Parentheses data refer to the corresponding period last year)
About the company:
Latvian Forest Company AB (publ) is a Swedish listed company that acquires, sells and conducts forestry on favorable valued forests in Latvia. The three main bases of the business are, in addition to forests being a sought-after real asset that grows by its own power:
- an expected increase in price levels for Latvian forest and agricultural properties.
- to create value increase through active forest management.
- to create value growth by building a larger property portfolio.
The expansion is financed by carrying out new issues in stages as properties are acquired and the business is developing. Through Latvian Forest Company, shareholders become partners in many properties instead of an individual, which provides a good risk spread. The activities carried out in current forestry create the turnover needed to cover the company's costs over time and eventually generate a surplus.
Latvian Forest Company AB has Euro as accounting and reporting currency. Share trading takes place at Spotlight Market in Swedish kronor.
Status & Property holdings
On February 4, the Board of Directors has decided to sign a letter of intent with Svenska Cellulosa Aktiebolaget (SCA), on the sale of all shares in the operating subsidiaries SIA Latvijas Mezu Kompanija and Baltic Forest IV SIA. The value of the fixed assets is calculated provisionally at TEUR 26,263. This corresponds to the buyer's estimate of the value of the total fixed assets of the two subsidiaries consisting mainly of forest and agricultural properties.
The purchase price for the shares amounted to the equity of the subsidiaries as of the date of entry corresponding to MEUR 16,7 adjusted for the difference between estimated and book value of the fixed assets. Certain reservation for any adjustments, which shall ultimately be determined by the parties within 30 business days in the share transfer agreement. These are provisionally estimated at TEUR 120 in favor of the Company. In addition, the parties have agreed that the buyer will repay shareholder loans equivalent to 9.4 MEUR. This corresponds to the value of the subsidiaries' forest and agricultural properties of MEUR 26.2. Prior to access, the Company's Board of Directors has decided to repay loan from Svenska Handelsbanken corresponding to TEUR 1,700 by taking up a short-term loan from Galjaden Fastigheter AB on March 25.
On March 27, the Company's Extraordinary General Meeting decided to approve the sale of all shares in the subsidiaries SIA Latvijas Mezu Kompanija and Baltic Forest IV SIA. SCA Mezs Latvija, a wholly owned subsidiary of Svenska Cellulosa Aktiebolaget SCA, has taken up and paid the shares in SIA Latvijas Mezu Kompanija and Baltic Forest IV SIA on April 8, 2019.
At the end of the period, the holdings amounted to a total of 10,614 (9,665) hectares. Of these, 8,060 (7,181) were forest and 1,943 (1,828) agricultural land and 611 other land. At the same time, the total growing stock was estimated at approximately 1,015,000 (1,035,000) cubic meters after felling and purchases and sales of property. Reduction in timber stocks compared to the previous report can be explained by felling equivalent to approximately 40,000 cubic meters in 2018 and by the company conducting extensive revisions to timber stocks after the change of forest manager in the beginning of last Year.
During the first quarter, a total of approximately MEUR 0.14 was invested in 6 individual properties and 138 hectares with a growing stock of about 10,000 cubic meters acquired, of which about 5,000 are fellable. The average growing stock was about 123 cubic meters per hectare of forest land.
Turnover and earnings
Net sales for the period amounted to TEUR 75.2 (49.6) and relate mainly to revenue from felling.
Sales have resulted in a cost increase of TEUR 400. This was a one-off cost relating to costs for legal advisers, termination of the existing and previous forest management agreements, including increased personnel costs.
The estimated fair value of forest resources amounted to MEUR 16.52 (14.23). In total, the value of woodland and other land and the fair value of forest resources amounted to MEUR 24.73. SCA valued the subsidiaries forest and agricultural properties at MEUR 26,263, which is 6 % more than the book- value. No change in fair value for biological fixed assets has been made during the period.
Felling and clearing
During the first quarter, the company was only able to fell 1.261 cubic meters, which was only part of planned felling volumes, i.e. standing forest timber for sale. The average felling price was EUR 34.41 per cubic meter. In addition, the company received TEUR 20 in compensation from the power grid company that will carry out the construction of new power lines. Compensation relates to felling which must be made in connection with this. The company ceased felling when it signed the letter of intent with the buyer on February 4.
Financing
During the first quarter, no rights issues have been implemented. The company raised a loan of MSEK 21.5 from Galjaden Fastigheter AB in connection with a need to amortize loans from Svenska Handelsbanken on March 25 according to the agreement. This loan was repaid to Galjaden Fastigheter AB on April 9.
Financing Strategy
The Board of Directors continues to probe the various possibilities about the company's future following the sale of the company's operating subsidiaries. If the company will continue operations as a Swedish listed company that invests in and conducts forestry on favorable valued forest in Latvia, the Board of Directors will follow the previously adopted financing strategy.
Following comments from and probing among various shareholders and potential investors, the Board of Directors has decided that future financing in the form of rights issues will primarily take place within the framework of rights issues with preference for existing shareholders. However, this does not prevent targeted issues from being carried out in the event of the acquisition of property portfolios or in specific situations where a directed issue may be required. However, the aim is that existing shareholders should not be disadvantaged if a directed issue is implemented.
Shares
At the end of the period, the share capital amounted to EUR 2,297,307 divided into 80,000 Class A shares and 20,431,061 Class B shares. Class A shares represent ten votes and Class B shares one vote each. Each share represents EUR 0.112 (SEK 1.0) in share capital. According to the latest data, the five largest shareholders control 67.6 % of the capital and 67.2 % of the votes.
Significant events after the end of the period
On April 8, SCA Mezs Latvija, a wholly owned subsidiary of Svenska Cellulosa Aktiebolaget SCA, took up and paid the shares in SIA Latvijas Mezu Kompanija and Baltic Forest IV SIA.
In view of an intermediary with the Chairman of the Board relating to compensation for increase in value in connection with the sale of all shares in the operating subsidiaries, Ted Alvenius has left his post as board member and chairman of Latvian Forest Company AB and made it available with immediate effect on May 20, 2019.
The Board of Directors has decided to propose to the Annual General Meeting to decide on dividends to shareholders, who will be paid with EUR 0.54 per share. The dividend will be paid in Swedish kronor and currently corresponds to approximately SEK 5.81 per share. The record date for obtaining a dividend should be Monday July 1, 2019. The last day for trading the company's shares including the right to dividend is Thursday, June 27, 2019. The proposed dividend totals EUR 11,075,973. The Board of Directors also proposes that the remaining free equity be balanced into new accounts.
Next report
The interim report for the period January to June 2019 is scheduled to be published on August 23, 2019.
Annual Report and Annual General Meeting
Notice of the Annual General Meeting on June 27, 2019 has taken place and the Annual Report and associated material will be available no later than two weeks before the Annual General Meeting.
Accounting principles
This interim report has been prepared for the Group in accordance with IFRS (International Financial Reporting Standards) such as those adopted by the EU, RFR 1 Supplemented accounting rules for groups and the Annual Accounts Act. The parent company's accounts are prepared in accordance with RFR 2 Accounting for Legal Persons and the Annual Accounts Act.
As of January 1, 2018, the company applies IFRS 15 Revenue from contracts with customers, with full retro activity. This means that the revenue is reported when the customer receives control over the sold-out goods or service and can use and obtain the benefits from the goods or services. The effect on the company is none or virtually none. See note 1 below. See also the Annual Report for 2017.
|
Note 1 - IFRS 15, Revenue from contracts with customers
|
|
|
TEUR
|
Jan-Mar 2019
|
Jan-Mar 2018
|
Jan-Dec 2018
|
|
Avverkningsrättigheter
|
43
|
42
|
1,160
|
|
Mark-, jakt- och fiskerättigheter
|
6
|
5
|
47
|
|
Övrigt
|
4
|
3
|
5
|
|
Totalt
|
53
|
50
|
1,212
|
| |
|
|
|
|
- varav nettoomsättning
|
53
|
50
|
1,212
|
|
- varav övrig omsättning
|
0
|
0
|
0
|
| |
|
|
|
|
Tidpunkt för intäktsredovisning
|
|
|
|
|
Varor, tjänster överförda till kund
|
|
|
|
|
vid en tidpunkt
|
53
|
50
|
1,212
|
|
Varor, tjänster överförda till kund
|
|
|
|
|
över tid
|
0
|
0
|
0
|
For the most part, the company sells felling rights. These are then prepared by the company so that a buyer can immediately initiate logging. It may therefore be said that almost everything the company sells falls to the customer while payment is paid. This means that the customer receives the full benefit of the item or service upon payment.
Regarding this report
This report has not been subject to special examination by the Company's auditor
For further information please contact
Aleksandrs Tralmaks, VD
+37129203972
info@latvianforest.se
Visit our website: www.latvianforest.se
|
KONCERNENS RESULTATRÄKNING (TEUR)
|
|
Jan-Mar 2019
|
Jan-Mar 2018
|
Jan-Dec 2018
|
|
Nettoomsättning
|
|
74.9
|
46.5
|
1,198.7
|
|
Övriga intäkter
|
|
0.3
|
3.1
|
0.0
|
|
Summa intäkter
|
|
75.2
|
49.6
|
1,198.7
|
|
Råvaror och förnödenheter
|
|
-35.6
|
-41.8
|
-172.1
|
|
Övriga externa kostnader
|
|
-569.3
|
-103.5
|
-364.3
|
|
Personalkostnader
|
|
-11.9
|
-15.4
|
-44.1
|
|
Avskrivningar och nedskrivningar
|
|
-0.1
|
-0.1
|
-0.4
|
|
|
|
|
|
|
|
Operativt rörelseresultat
|
|
-541.7
|
-111.2
|
617.8
|
|
Reavinster fastighetsförsäljningar
|
|
0.0
|
0.0
|
3.1
|
|
Rörelseresultat före värdeförändring skog
|
|
-541.7
|
-111.2
|
620.9
|
|
Värdeförändring skog
|
|
0.0
|
333.0
|
1,913.9
|
|
Rörelseresultat
|
|
-541.7
|
221.8
|
2,534.8
|
|
Finansiella intäkter
|
|
0.8
|
0.1
|
0.0
|
|
Finansiella kostnader
|
|
-34.4
|
-66.7
|
-110.6
|
|
Finansnetto
|
|
-33.6
|
-66.6
|
-110.6
|
|
Resultat före skatt
|
|
-575.3
|
155.2
|
2,424.2
|
|
Aktuell skatt
|
|
-
|
-
|
0.0
|
|
Uppskjuten skatt
|
|
-
|
-
|
0.0
|
|
ÅRETS RESULTAT
|
|
-575.3
|
155.2
|
2,424.2
|
|
AKTIEDATA
|
2019-03-31
|
2018-03-31
|
2018-12-31
|
|
Genomsnittligt antal aktier
|
20,511,061
|
20,511,061
|
20,511,061
|
|
Antal aktier
|
20,511,061
|
20,511,061
|
20,511,061
|
|
Resultat per aktie, Euro
|
-0.028
|
0.008
|
0.118
|
|
Eget kapital per aktie, Euro
|
1.117
|
1.034
|
1.145
|
|
Kassaflöde från den löpande verksamheten per aktie, Euro
|
-0.019
|
-0.015
|
0.007
|
|
KONCERNENS BALANSRÄKNING (TEUR)
|
|
2019-03-31
|
2018-03-31
|
2018-12-31
|
|
TILLGÅNGAR
|
|
|
|
|
|
Skogsmark och övrig mark
|
|
8,210.7
|
7,684.9
|
8,102.0
|
|
Biologiska tillgångar, växande skog
|
|
16,516.5
|
14,232.4
|
16,472.0
|
|
Inventarier
|
|
0.7
|
1.1
|
0.8
|
|
Depositioner
|
|
5.3
|
5.9
|
5.3
|
|
Fordran uppskjuten skatt
|
|
-
|
0.0
|
-
|
|
Summa anläggningstillgångar
|
|
24,733.2
|
21,924.3
|
24,580.1
|
|
Kundfordringar
|
|
23.7
|
46.0
|
242.6
|
|
Kortfristiga fordringar
|
|
145.8
|
62.1
|
67.5
|
|
Likvida medel
|
|
220.3
|
1,085.3
|
455.9
|
|
Summa omsättningstillgångar
|
|
389.8
|
1,193.4
|
766.0
|
|
SUMMA TILLGÅNGAR
|
|
25,123.0
|
23,117.7
|
25,346.1
|
| |
|
|
|
|
|
EGET KAPITAL OCH SKULDER
|
|
|
|
|
|
Eget kapital
|
|
22,904.2
|
21,210.5
|
23,479.5
|
|
Räntebärande långfristiga skulder
|
|
-
|
1,758.8
|
-
|
|
Räntebärande kortfristiga skulder
|
|
2,062.9
|
-
|
1,758.8
|
|
Leverantörsskulder
|
|
66.2
|
74.6
|
39.7
|
|
Övriga skulder
|
|
8.6
|
5.2
|
5.7
|
|
Upplupna kostnader och förutbetalda intäkter
|
|
81.1
|
68.6
|
62.4
|
|
Summa skulder
|
|
2,218.8
|
1,907.2
|
1,866.6
|
|
SUMMA EGET KAPITAL OCH SKULDER
|
|
25,123.0
|
23,117.7
|
25,346.1
|
|
Ställda säkerheter
|
|
1,764.1
|
1,764.7
|
1,764.1
|
|
Soliditet
|
|
91.2%
|
91.8%
|
92.6%
|
|
Skuldsättningsgrad
|
|
0.10
|
0.09
|
0.08
|
|
KONCERNENS KASSAFLÖDESANALYS (TEUR)
|
|
2019-03-31
|
2018-03-31
|
2018-12-31
|
|
Rörelseresultat
|
|
-541.7
|
221.8
|
2,534.8
|
|
Justerings- och tilläggsposter:
|
|
|
|
|
|
- Beräknad värdeförändring skog
|
|
-
|
-333.0
|
-1,913.9
|
|
- Avskrivningar anläggningstillgångar
|
|
0.1
|
0.1
|
0.4
|
|
- Erhållna räntor
|
|
0.8
|
-
|
-
|
|
- Erlagda räntor
|
|
-14.5
|
-11.3
|
-49.0
|
|
- Omräkningsdifferens av resultat i utländsk valuta
|
|
-
|
0.1
|
-
|
|
Kassaflöde från den löpande verksamheten före förändringar av rörelsekapital
|
|
-555.3
|
-122.3
|
572.3
|
|
Kassaflöde från förändringar i rörelsekapital
|
|
165.9
|
-180.4
|
-428.6
|
|
Kassaflöde från den löpande verksamheten
|
|
-389.4
|
-302.7
|
143.7
|
|
Investeringsverksamheten
|
|
|
|
|
|
Mark
|
|
-108.7
|
-195.1
|
-612.2
|
|
Biologiska anläggningstillgångar och mark
|
|
-44.5
|
-65.3
|
-724.0
|
|
Maskiner och inventarier
|
|
-
|
-1.1
|
-1.1
|
|
Kassaflöde från investeringsverksamheten
|
|
-153.2
|
-261.5
|
-1,337.3
|
|
Finansieringsverksamheten
|
|
|
|
|
|
Nyemissioner
|
|
-
|
-
|
-
|
|
Kapitalanskaffningskostnader
|
|
-
|
-2.0
|
-2.0
|
|
Förändring av lån
|
|
307.0
|
-
|
-
|
|
Kassaflöde från finansieringsverksamheten
|
|
307.0
|
-2.0
|
-2.0
|
|
ÅRETS KASSAFLÖDE
|
|
-235.6
|
-566.2
|
-1,195.6
|
|
Likvida medel vid periodens ingång
|
|
455.9
|
1,651.5
|
1,651.5
|
|
Periodens kassaflöde enligt ovan
|
|
-235.6
|
-566.2
|
-1,195.6
|
|
Likvida medel vid periodens utgång
|
|
220.3
|
1,085.3
|
455.9
|
|
KONCERNENS FÖRÄNDRINGAR I EGET KAPITAL (TEUR)
|
|
Aktiekapital
|
Övrigt tillskjutet kapital
|
Balanserade resultat inkl periodens resultat
|
Totalt eget kapital
|
|
Eget kapital 31 december 2017/1 januari 2018
|
|
2,297.3
|
11,766.8
|
6,993.2
|
21,057.3
|
|
Periodens resultat
|
|
|
|
2,424.2
|
2,424.2
|
|
Nyemissioner
|
|
|
|
|
0.0
|
|
Kapitalanskaffningskostnader
|
|
|
-2.0
|
|
-2.0
|
|
Eget kapital 31 december 2018/1 januari 2019
|
|
2,297.3
|
11,764.8
|
9,417.4
|
23,479.5
|
|
|
|
|
|
|
|
|
Periodens resultat
|
|
|
|
-575.3
|
-575.3
|
|
Kapitalanskaffningskostnader
|
|
|
|
|
0.0
|
|
Eget kapital 31 mars 2019
|
|
2,297.3
|
11,764.8
|
8,842.1
|
22,904.2
|
|
Eget kapital 31 december 2017/1 januari 2018
|
|
2,297.3
|
11,766.8
|
6,993.2
|
21,057.3
|
|
MODERBOLAGETS RESULTATRÄKNING (TEUR)
|
|
Jan-Mar 2019
|
Jan-Mar 2018
|
Jan-Dec 2018
|
|
Nettoomsättning
|
|
15.9
|
15.6
|
10.8
|
|
Övriga externa kostnader
|
|
-490.7
|
-25.5
|
-142.3
|
|
|
|
|
|
|
|
Rörelseresultat
|
|
-474.8
|
-9.9
|
-131.5
|
|
Resultat från finansiella investeringar
|
|
|
|
|
|
Finansiella intäkter
|
|
78.2
|
64.6
|
276.2
|
|
Finansiella kostnader
|
|
-22.3
|
-54.0
|
-61.6
|
|
Finansnetto
|
|
55.9
|
10.6
|
214.6
|
|
Resultat efter finansiella poster
|
|
-418.9
|
0.7
|
83.1
|
|
PERIODENS RESULTAT
|
|
-418.9
|
0.7
|
83.1
|
|
Nettoomsättning
|
|
15.9
|
15.6
|
10.8
|
|
MODERBOLAGETS BALANSRÄKNING (TEUR)
|
|
2019-03-31
|
2018-03-31
|
2018-12-31
|
|
TILLGÅNGAR
|
|
|
|
|
|
Andelar i dotterföretag
|
|
6,073.9
|
6,073.9
|
6,073.9
|
|
Fordran koncernbolag
|
|
9,380.9
|
6,797.6
|
7,639.7
|
|
Depositioner
|
|
5.3
|
5.9
|
5.3
|
|
Summa anläggningstillgångar
|
|
15,460.1
|
12,877.4
|
13,718.9
|
|
Kortfristiga fordringar
|
|
40.7
|
26.7
|
16.1
|
|
Kassa och bank
|
|
146.2
|
991.0
|
243.0
|
|
Summa omsättningstillgångar
|
|
186.9
|
1,017.7
|
259.1
|
|
SUMMA TILLGÅNGAR
|
|
15,647.0
|
13,895.1
|
13,978.0
|
| |
|
|
|
|
|
EGET KAPITAL OCH SKULDER
|
|
|
|
|
|
Eget kapital
|
|
13,516.0
|
13,852.5
|
13,934.9
|
|
Räntebärande kortfristiga skulder
|
|
2,062.9
|
-
|
-
|
|
Övriga skulder
|
|
46.0
|
25.8
|
27.1
|
|
Upplupna kostnader
|
|
22.1
|
16.8
|
16.0
|
|
Summa skulder
|
|
2,131.0
|
42.6
|
43.1
|
|
SUMMA EGET KAPITAL OCH SKULDER
|
|
15,647.0
|
13,895.1
|
13,978.0
|
|
Soliditet
|
|
86.4%
|
99.7%
|
99.7%
|
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02.04.2024
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Ändrat datum för offentliggörande av bokslutskommuniké 2023
19.02.2024
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Interim report Jan-Sept. 2023
22.11.2023
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FLAGGING MESSAGE Galjaden Invest AB has reduced its holding in Latvian Forest Company AB
20.09.2023
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Interim report Jan-June 2023
25.08.2023
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COMMUNIQUÉ FROM THE ANNUAL GENERAL MEETING
26.06.2023
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NOTICE LFC ANNUAL GENERAL MEETING 2023 - MAY 30, 2023
30.05.2023
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Interim report January-March 2023
24.05.2023
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THE BUYER WITH WHOM LATVIAN FOREST COMPANY AB HAS NEGOTIATED THE SALE OF ITS TWO LATVIAN SUBSIDIARIES HAS ANNOUNCED THAT IT DOES NOT INTEND TO COMPLETE THE CONTEMPLATED TRANSACTION.
29.04.2023
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LATVIAN FOREST COMPANY CONTINUES WORK TO COMPLETE THE SALE OF ITS SUBSIDIARIES IN LATVIA TO SWEDEN BASED, WELL ESTABLISHED COMPANY.
17.04.2023
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Changed date for Year-end report 2022
20.02.2023
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LATVIAN FOREST COMPANY ENTERS INTO LETTER OF INTENT WITH SWEDEN BASED, WELL ESTABLISHED COMPANY REGARDING THE SALE OF ITS SUBSIDIARIES IN LATVIA
15.02.2023
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Interim report Jan-Sept. 2022
23.11.2022
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New date for Interim Report January-September 2022
14.11.2022
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Interim report Jan-June 2022
22.08.2022
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COMMUNICATION FROM ANNUAL GENERAL MEETING
30.06.2022
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Interim Report January - March 2022
27.05.2022
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Last day for trading in BTA B is 2022-03-11
09.03.2022
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CHANGED DATE FOR YEAR-END REPORT 2021
18.02.2022
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LATVIAN FOREST COMPANY'S PREMIUM ISSUE SUBSCRIBED
01.02.2022
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Correction: Carry out a rights issue of SEK 25 million for continued expansion
07.01.2022
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LATVIAN FOREST COMPANY AB (PUBL.) COMPLETES PREPARATION ISSUE OF SEK 25 MILLION FOR CONTINUED EXPANSION
07.01.2022
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LATVIAN FOREST COMPANY AB (PUBL.) HAS FINISHED THE BUSINESS REGARDING THE PURCHASE OF ALL SHARES OF UAB SILUONA.
02.12.2021
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CHANGED DATE FOR INTERIM REPORT JAN-SEPT 2021
12.11.2021
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LATVIAN FOREST COMPANY AB (PUBL.) HAS SIGNED AN AGREEMENT REGARDING THE PURCHASE OF ALL SHARES OF A LITHUANIAN COMPANY OWNING 1,338 HECTARES OF LAND WITH 301,000 m³ OF LUMBER.
01.11.2021
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Interim report Jan-June 2021
30.08.2021
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CORRECTION: UPDATE IN PREVIOUS PRESS RELEASE "CHANGED DATE FOR INTERIM REPORT JANUARY-JUNE 2021" REGARDING MAR CLASSIFICATION.
23.08.2021
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ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR LATVIAN FOREST COMPANY AKTIEBOLAG 2020
03.08.2021
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COMMUNICATION FROM ANNUAL GENERAL MEETING
30.06.2021
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Interim report January-March 2021
06.06.2021
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NOTICE TO ATTEND THE ANNUAL GENERAL MEETING OF LATVIAN FOREST COMPANY AB (PUBL)
31.05.2021
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Latvian Forest Companys företrädesemission registrerad
27.05.2021
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Latvian Forest Company's rights issue oversubscribed
07.05.2021
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LATVIAN FOREST COMPANY PUBLISHES PROSPECTUS
22.04.2021
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Latvian Forest Company provide a rights issue of approximately 78.2 MSEK for continued expansion
12.04.2021
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Changed release date for Interim Report Jan-Mar 2021
12.04.2021
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Interim report Jan-Sept. 2020
30.11.2020
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AMENDED DATE OF INTERIM REPORT JAN-SEPT. 2020
19.11.2020
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LATVIAN FOREST COMPANY AB (PUBL.) HAS COMPLETED THE TRANSACTION REGARDING THE PURCHASE OF ALL SHARES IN LATFOLDE AB
30.10.2020
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LATVIAN FOREST COMPANY AB BORROWS 1.1 MEUR FROM SWEDBANK
23.10.2020
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SUPPLEMENT - LATVIAN FOREST COMPANY AB (PUBL.) SIGNS CONDITIONAL PURCHASE AGREEMENT REGARDING THE PURCHASE OF ALL SHARES OF LATFOLDE AB
18.09.2020
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LATVIAN FOREST COMPANY AB (PUBL.) SIGNS CONDITIONAL PURCHASE AGREEMENT REGARDING THE PURCHASE OF ALL SHARES OF LATFOLDE AB
18.09.2020
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Interim report Jan-June 2020
26.08.2020
Interim report Jan-June 2020
- Book value of fixed assets 12,264.8 (0) TEUR
- Equity amounts to 0.669 (1.154) EUR per share
- Earnings per share 0.024 (0.474) EUR
- Property holdings amount to 4,324* (0) hectares
- Timber volume estimated at 500,000* (0) cubic meters
- Net sales 103.7 (15.6) TEUR
- Operating profit -498.6 (0) TEUR
- Change in value, forest 1,080.7(0) TEUR
- Net profit 498.3 (9,726.4) (0) TEUR
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LATVIAN FOREST COMPANY AB HAS SOLD 195.7 HECTARES OF FARMLAND AND A 2.3 HECTARE FARM.
20.07.2020
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COMMUNIQUÉ FROM THE ANNUAL GENERAL MEETING
29.06.2020
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NOTICE OF ANNUAL GENERAL MEETING OF LATVIAN FOREST COMPANY AB (PUBL)
29.06.2020
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Interim report Jan-Mar 2020
25.05.2020
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Arbitration Institute has adjudicated on claims from former CEO Fredrik Zetterström
20.05.2020
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Regarding the company's former CEO Fredrik Zetterström, the Arbitration is expected to be on May 20, 2020.
28.04.2020
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Year- end report 2019
20.02.2020
Period January-December 2019
- Book value of fixed assets 8,660 (24,574) TEUR
- Equity amounts to 0,665 (1,145) EUR per share)
- Property holdings amount to 3,816 (10,452) hectares
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MINUTES HELD AT THE ANNUAL GENERAL MEETING OF LATVIAN FOREST COMPANY AB (PUBL)
20.12.2019
Minutes kept at the Annual General Meeting of Latvian Forest Company AB (publ), org. 556789-0495, at 10.00, Monday, December 16, 2019 in Stockholm.
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INTERIM REPORT JAN-SEP 2019
22.11.2019
- Equity amounts to EUR 0.604 (1,125) per share
- Profit after financial items 9,523.4 (2,020.5) TEUR
- Earnings per share EUR 0.464 (0.099)
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LATVIAN FOREST COMPANY AB HAS SIGNED A PURCHASE AGREEMENT FOR THE ACQUISITION OF 3,460 HECTARES OF FOREST AND AGRICULTURAL LAND IN LATVIA.
12.11.2019
Parts of the acquisition have already been taken up and the remaining shall be taken later.
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NOTICE OF EXTRAORDINARY GENERAL MEETING LATVIAN FOREST COMPANY AB (PUBL)
12.11.2019
Shareholders wishing to participate in the Meeting shall be included in the share register kept by Euroclear Sweden AB ("VPC) and report their participation no later than Wednesday December 11, 2019.
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Former CEO and Board member Fredrik Zetterström has called for arbitration against Latvian Forest Company AB.
08.10.2019
LFC informs that its past CEO and board member Fredrik Zetterström has called for arbitration against Latvian Forest Company AB regarding profit sharing corresponding to EUR 378,500.
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INTERIM REPORT JAN-JUN 2019
23.08.2019
All shares in the subsidiaries have been sold, leading to a surplus of 10,803 TEUR
- Equity amounts to EUR 1,154 (0.676) per share
- Profit after financial items 9,726.4 (18.3) TEUR
- Earnings per share EUR 0.474 (0.001)
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Record day to receive dividends
01.07.2019
Today, Monday, July 1, 2019, is the record day to receive a dividend. According to a resolution of the Annual General Meeting dividend to the shareholders shall be paid EUR 0.54 per share or a total of EUR 11 075 973.
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Annual Report and Consolidated Financial Statements for Latvian Forest Company Aktiebolag (publ)
03.06.2019
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NOTICE OF THE ANNUAL GENERAL MEETING OF LATVIAN FOREST COMPANY AB (PUBL)
23.05.2019
Notice of the Annual General Meeting of Latvian Forest Company AB (publ).
Shareholders of Latvian Forest Company AB (publ), org. No. 556789-0495, (the "Company") is hereby invited to the Annual General Meeting on Thursday, June 27, 2019, at 10:00 a.m. in Galjaden Fastigheter's premises on Linnégatan 18 in Stockholm.
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Chairman of the Board Ted Alvenius leaves his post as board member and chairman of Latvian Forest Company AB with immediate effect.
20.05.2019
LFC informs that Chairman of the Board, Ted Alvenius, is of a different opinion than the remaining Board of Directors regarding a transaction involving compensation for value increase in connection with the sale of all shares in the operating subsidiaries.
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Disclosure Notice
16.04.2019
Galjaden Invest AB has increased its holding in Latvian Forest Company AB to 20.03%.
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Press Release - sale of all shares in SIA Latvijas mezu kompanija and Baltic Forest IV SIA.
08.04.2019
Latvian Forest Company has, in accordance with a resolution at the Extraordinary General Meeting on March 27, 2019, completed the sale of all shares in SIA Latvijas mezu kompanija and Baltic Forest IV SIA.
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Disclosure Notice
29.03.2019
Nils Robert Persson has increased his holding in Latvian Forest Company AB.
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NOTICE FROM EXTRAORDINARY ANNUAL GENERAL MEETING
27.03.2019
Latvian Forest Company AB (publ) held the Extraordinary Annual General Meeting on March 27, 2019. The meeting resolved on the sale of all shares in the operating subsidiaries SIA Latvijas Mezu Kompaniju and Baltic Forest IV SIA to SCA Mezs Latvija, SIA
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Summons to Extraordinary General Meeting of shareholders in Latvian Forest Company AB (publ)
13.03.2019
The shareholders of Latvian Forest Company AB (publ), Reg. No. 556789-0495 ("The Company") are hereby summoned to the Extraordinary General Meeting of shareholders to be held on Wednesday, March 27, 2019 at 10.00 in Galjaden Fastigheter premises on Linnégatan 18, Stockholm.
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Latvian Forest Company undertecknar aktieöverlåtelseavtal med SCA Mezs Latvija
08.03.2019
LATVIAN FOREST COMPANY SIGNS SHARE TRANSFER AGREEMENT WITH SCA MEZS LATVIA
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Bokslutskommuniké 2018
22.02.2019
- Bokfört värde på mark- och skogstillgångar uppgår till 24.574 (21.323)TEUR
- Eget kapital uppgår till 1,145 (1,027) EUR per aktie
- Fastighetsinnehaven uppgår till 10.452 (9.599) hektar
- Virkesvolymen uppskattas till ca 1.015.000 (995.160) kubikmeter
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Latvian Forest Company signs letter of intent with Svenska Cellulosa Aktiebolaget SCA with a view of selling the entire share capital of all its operating subsidiaries
04.02.2019
Latvian Forest Company AB signs letter of intent with Svenska Cellulosa Aktiebolaget SCA with a view of selling the company’s operations by way of sale of all shares in the operating subsidiaries SIA Latvijas mezu kompanija and Baltic Forest IV, SIA. The total sale price is estimated to 26 000 000 Euro.
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Interim Report January - September 2018
23.11.2018
- Book value on land and forest assets of 23.840 (21.062) TEUR
- Owners’ Equity per share was 1,125 (0,979) EUR
- Property holdings of 10.357 (9.416) hectares
- Timber volume was 1.016.600 (960.000) cubic meter
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Interim Report January - June 2018
23.08.2018
- Book value on land and forest assets of 22.137 (20.850) TEUR
- Owners’ Equity per share was 1,047 (1,068) EUR
- Property holdings of 9.877 (9.368) hectare
- Timber volume was 1.034.000 (940.000) cubic meter
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Come follow us on Instagram!
17.08.2018
Come follow us on Instagram
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European Foresters' Orienteering Championships 2018
01.08.2018
We at Latvian Forest Company are proud supporters of orienteering in Latvia.
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Interim Report January - March 2018
24.05.2018
- Book value on land and forest assets of 21.924,3 (20.829,8) TEUR
- Owners’ Equity per share was 1,034 (1,06) EUR
- Earnings per share 0,008 (0,0039) EUR
- Property holdings of 9.665 (9.368) hectare
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Interim Report January - March 2017
22.05.2017
- Book value on land and forest assets of 20.829,8 (19.228) TEUR
- Owners’ Equity per share was 1,06 (1,03) EUR
- Earnings per share was 0,0039 EUR
- Property holdings of 9.368 (8.590) hectare
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Bronsstädet AB largest shareholder
23.09.2014
Bronsstädet AB (556612-1124) has purchased 1.878.616 B-shares in Latvian Forest Company AB (publ). The ownership, after purchases, corresponds to 14.81 percent of capital and 14.01 percent of votes which makes Bronsstädet AB the largest shareholder in Latvian Forest Co.
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Acquisitions will be completed
04.03.2014
Following the completion of its due diligence analyses, the Latvian Forest Company AB has decided to complete the previously announced acquisitions.
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