INTERIM REPORT JAN-JUN 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)
(Parentheses data refer to the corresponding period last year)
About the company:
Latvian Forest Company AB (publ) is a Swedish listed company that acquires in and conducts forestry on favorable valued forests in Latvia. The three main grounds 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 currency and all reporting takes place in EURO. Trading in the share at Spotlight takes place in Swedish kronor.
Results
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. The purchase price for the shares in the subsidiaries amounted to MEUR 16.7, with the addition of the buyer's repaid shareholder loan equivalent to MEUR 9.4, corresponding to the value of the subsidiaries' forest and agricultural properties (MEUR 26.2). The final purchase price has been determined by the entry balance sheet corresponding to TEUR 120 in a positive net working capital.
The result was TEUR 9,726.4 (18.3) for the first six months for the parent company. During the second quarter, the parent company performed a positive operating profit of TEUR 10,145.3 (17.6). This is a result of the above-mentioned sale.
Before the sale, the value of woodland and other land and the fair value of forest resources amounted to TEUR 24,727. SCA valued the subsidiaries forest and agricultural properties at TEUR 26,263, which is 6 % more than the book value.
Latvian Forest Company AB (publ) held the Annual General Meeting on June 27, 2019 and decided in accordance with the Board's proposal to pay dividends to shareholders with EUR 0.54 per share. On July 4, the company paid a total of EUR 11,075,973, corresponding to SEK 5.70 per share. This is due to the exchange rate of the Swedish krona, corresponding to SEK 10.54604 per EURO, on meeting day June 27, 2019. According to the Board's proposal, the remaining free equity shall be balanced into a new account.
Sales have resulted in a cost increase of approximately TEUR 670, of which TEUR 400 are one-off costs for the settlement of existing and previous forest management agreements, legal adviser costs and increased staff costs. The company has also had approximately TEUR 270 in increased one-off costs for legal and financial advisors at the parent company level.
In addition, the company has received demands from former Chairman Ted Alvenius and former board member and former CEO Fredrik Zetterstrom concerning compensation for increase in value at the sale of shares, in the company-owned operating subsidiaries. The Company's Board of Directors has previously made it clear, in the Company's annual report for 2017, that the Board considers that these agreements do not apply. The Company's Board of Directors has hired legal advisors to meet the requirements and clarify its basis. The Board of Directors has not made provisions in connection with these requirements.
The Board of Directors has decided to proactively evaluate investment opportunities in favorable valued forest in Latvia, according to the company's existing strategy. After dividends, the remaining liquid funds can be used for such investments, if the Company's Board of Directors should make such a decision.
Financing
During the first six months, no rights issues have been implemented. The company has no loans.
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 primarily will be made with preference for existing shareholders, so-called preferential rights issues. However, this does not prevent targeted issues from being carried out, inter alia, at acquisition of property portfolios or in specific situations where a directed issue may be required. The total number of newly issued shares and the number of shares likely to be added by the exchange of convertible-bonds or new subscription of shares on the basis of warrants shall be equal to not more than the number in the highest number of shares according to the articles of association. However, the aim is that existing shareholders should not be disadvantaged if a directed issue is implemented.
In connection with the above, the Meeting decided to authorize the Board of Directors, that on one or more occasions before the next Annual General Meeting, with or without deviation from the shareholders' preferential rights, decide on a new issue of shares, issue of warrants and/or convertibles within the limits of the Articles of Association. Payment shall be possible in cash, by setting off, capital contributed in kind or otherwise subject to Chapter 2 (Paragraph 5) Section 1 to 3 and 5 of the Swedish Companies Act.
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 EURO 0.112 (SEK 1.0) in share capital. According to the latest data, the five largest shareholders in voting value control 67.6 % of the capital and 67.2 % of the votes.
The market
The company management of Latvian Forest Company still thinks it is a favorable market for acquiring individual properties and property portfolios, despite record strong interest among investors on forest assets in Latvia 2019. The large investors who have completed acquisitions are expected to be busy establishing forest management procedures in the new market and will therefore have limited capacity to carry out the acquisition of individual properties. The local smaller forest owners will want to sell their properties after felling in order to avoid investment in forestry measures and improve their liquidity. It provides an opportunity to acquire such properties at a favorable price.
The favorable price level of wood products during 2018 has had a negative trend in the first six months 2019. This motivates many of the forest owners to review their plans and be more careful with their cash flow, which again favors a more active market for forest properties.
Significant events after the end of the period
Latvian Forest Company AB has signed a letter of intent on the acquisition of 2,232 hectares of forest and agricultural land in Latvia. The purchase price is estimated to be EUR 4,169,000. The portfolio consists of 713 hectares of woodland, 1,191 hectares of agricultural land and 328 hectares of other land covering 33 properties. In total, the holding has growing stock equivalent to 160,000 cubic meters of growing forest, of which 37,000 cubic meters are immediately fellable. Productive agricultural land equivalent to 730 hectares is leased to local farmers with an annual income of approximately EUR 48 000.
The remaining 461 hectares of agricultural land is expected by the company management to be converted into woodland.
The purchase is made through the acquisition of shares in a company and as the acquisition of individual properties from the same seller. The purchase will be completed after LFC conducted review of the company and its assets. The Board of Directors shall then approve the purchase. The possible acquisition will allow the company's operations to continue through continuous acquisition of new forest land portfolios that can be improved through active management.
LFC has established a Latvian subsidiary – SIA "Baltijas Mezu Investicijas" with the intention of acquiring forest properties in Latvia.
Other company news
The Annual General Meeting decided in accordance with the Board's proposal to re-elect board members Martin Hansson, Anders Nilsson and Andreas Norman and to elect Aleksandrs Tralmaks as board member. Ulrika Arver had declined re-election. It was decided that fees will be paid at a total of SEK 200,000 to the members of the Board, of which SEK 80,000 to the Chairman of the Board and SEK 60,000 each, to other members who do not receive compensation from the company.
Next report
The interim report for the period January to September 2019 is scheduled to be published on November 22, 2019.
Accounting principles
The parent company's accounts are prepared in accordance with RFR 2 Accounting for Legal Persons and the Annual Accounts Act.
About this report
This report has not been subject to special examination by the company's auditor.
Stockholm, 2019-08-24
For further information please contact
Aleksandrs Tralmaks, VD
+37129203972
info@latvianforest.se
Visit our website: www.latvianforest.se
|
RESULTATRÄKNING (TEUR)
|
|
YTD 2019
|
YTD 2018
|
Q2 2019
|
Q2 2018
|
Helår 2018
|
|
Nettoomsättning
|
|
15.6
|
32.0
|
-0.3
|
16.4
|
10.8
|
|
Övriga externa kostnader
|
|
-772.3
|
-77.3
|
-281.6
|
-51.8
|
-142.3
|
|
Rörelseresultat
|
|
-756.7
|
-45.3
|
-281.9
|
-35.4
|
-131.5
|
|
Resultat från finansiella investeringar
|
|
|
|
|
|
|
|
Finansiella intäkter
|
|
10,889.9
|
131.9
|
10,811.7
|
67.3
|
276.2
|
|
Finansiella kostnader
|
|
-406.8
|
-68.3
|
-384.5
|
-14.3
|
-61.6
|
|
Finansnetto
|
|
10,483.1
|
63.6
|
10,427.2
|
53.0
|
214.6
|
|
Resultat efter finansiella poster
|
|
9,726.4
|
18.3
|
10,145.3
|
17.6
|
83.1
|
|
PERIODENS RESULTAT
|
|
9,726.4
|
18.3
|
10,145.3
|
17.6
|
83.1
|
|
AKTIEDATA
|
|
30/06/2019
|
30/06/2018
|
Helår 2018
|
|
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 efter skatt, Euro
|
|
0.474
|
0.001
|
0.120
|
|
Eget kapital per aktie, Euro (före och efter utspädning)
|
|
1.154
|
0.676
|
0.679
|
|
FÖRÄNDRING I EGET KAPITAL, TEUR
|
|
Aktiekapital
|
Överkursfond
|
Balanserat och årets resultat
|
Totalt
|
|
Ingående eget kapital 1 januari 2018
|
|
2 297,3
|
11 766,9
|
-210,4
|
13 853,8
|
|
Årets resultat
|
|
|
|
83,1
|
83,1
|
|
Kapitalanskaffningskostnader
|
|
|
-2,0
|
|
-2,0
|
|
Utgående eget kapital 31 december 2018
|
|
2 297,3
|
11 764,9
|
-127,2
|
13 935,0
|
|
Ingående eget kapital 1 januari 2019
|
|
2 297,3
|
11 764,9
|
-127,2
|
13 935,0
|
|
Årets resultat
|
|
|
|
9 726,4
|
9 726,4
|
|
Utgående eget kapital 30 juni 2019
|
|
2 297,3
|
11 764,9
|
9 599,2
|
23 661,4
|
|
|
|
|
|
|
|
|
BALANSRÄKNING (TEUR)
|
|
30/06/2019
|
30/06/2018
|
Helår 2018
|
|
TILLGÅNGAR
|
|
|
|
|
|
Andelar i dotterföretag
|
|
0.0
|
6,073.9
|
6,073.9
|
|
Fordran koncernbolag
|
|
0.0
|
6,939.9
|
7,639.7
|
|
Depositioner
|
|
5.1
|
5.9
|
5.3
|
|
Summa anläggningstillgångar
|
|
5.1
|
13,019.7
|
13,718.9
|
|
Kortfristiga fordringar (note 2)
|
|
146.5
|
37.0
|
16.1
|
|
Kassa och bank
|
|
23,554.3
|
839.5
|
243.0
|
|
Summa omsättningstillgångar
|
|
23,700.8
|
876.5
|
259.1
|
|
SUMMA TILLGÅNGAR
|
|
23,705.9
|
13,896.2
|
13,978.0
|
|
|
|
|
|
|
|
EGET KAPITAL OCH SKULDER
|
|
|
|
|
|
Eget kapital
|
|
23,661.4
|
13,870.1
|
13,934.9
|
|
Övriga skulder
|
|
26.9
|
9.3
|
27.1
|
|
Upplupna kostnader
|
|
17.6
|
16.8
|
16.0
|
|
Summa skulder
|
|
44.5
|
26.1
|
43.1
|
|
SUMMA EGET KAPITAL OCH SKULDER
|
|
23,705.9
|
13,896.2
|
13,978.0
|
|
Soliditet
|
|
99.8%
|
99.8%
|
99.7%
|
|
KASSAFLÖDESANALYS (TEUR)
|
|
30/06/2019
|
30/06/2018
|
Helår 2018
|
|
Rörelseresultat
|
|
-756.7
|
-45.3
|
-131.5
|
|
Justeringsposter:
|
|
|
|
|
|
- Erhållna räntor
|
|
86.4
|
131.9
|
276.2
|
|
- Erlagda räntor
|
|
-12.2
|
-
|
-
|
|
- Realiserade valutakursförluster
|
|
-8.5
|
-
|
-
|
|
Överskott vid försäljning av dotterföretag
|
|
10,803.5
|
-
|
-
|
|
Kassaflöde från den löpande verksamheten före förändringar av rörelsekapital
|
|
10,112.5
|
86.6
|
144.7
|
|
Kassaflöde från förändringar i rörelsekapital
|
|
-128.7
|
-38.4
|
6.8
|
|
Kassaflöde från den löpande verksamheten
|
|
9,983.8
|
48.2
|
151.5
|
|
Investeringsverksamheten
|
|
|
|
|
|
Försäljning av andelar i dotterföretag
|
|
6,073.9
|
-
|
-
|
|
Kassaflöde från investeringsverksamheten
|
|
6,073.9
|
0.0
|
0.0
|
|
Finansieringsverksamheten
|
|
|
|
|
|
Kapitalanskaffningskostnader
|
|
-
|
-2.0
|
-2.0
|
|
Förändring av fordringar på koncernföretag
|
|
7,639.7
|
-842.3
|
-1,542.1
|
|
Kassaflöde från finansieringsverksamheten
|
|
7,639.7
|
-844.3
|
-1,544.1
|
|
ÅRETS KASSAFLÖDE
|
|
23,697.4
|
-796.1
|
-1,392.6
|
|
Likvida medel vid årets ingång
|
|
243.0
|
1,635.6
|
1,635.6
|
|
Årets kassaflöde enligt ovan
|
|
23,697.4
|
-796.1
|
-1,392.6
|
|
Kursdifferens i likvida medel
|
|
-386.1
|
0.0
|
0.0
|
|
Likvida medel vid periodens utgång
|
|
23,554.3
|
839.5
|
243.0
|
Note 1, Group
In Q2, 2019, the company sold all shares in the Latvian subsidiaries. The accounts refer only to the parent company since no group exists on the last of June.
Note 2, Short-term receivables
Short-term receivables consist mainly of a final adjustment of the purchase price for the sold shares. The buyer paid the amount, TEUR 120, in July. Other items consist of interim claims and Vat.
Latvian Forest Company offentliggör emissionsmemorandum
10.04.2024
Read more
Latvian Forest Company genomför företrädesemission om 27,3 Mkr för fortsatt expansion
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
Read more
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
Read more
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)
Read more
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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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.
Read more
Annual Report and Consolidated Financial Statements for Latvian Forest Company Aktiebolag (publ)
03.06.2019
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INTERIM REPORT JAN-MAR 2019
24.05.2019
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
Read more
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.
Read more
Disclosure Notice
16.04.2019
Galjaden Invest AB has increased its holding in Latvian Forest Company AB to 20.03%.
Read more
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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