News

22
11.2019

INTERIM REPORT JAN-SEP 2019

INTERIM REPORT JAN-SEP 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)

(Parentheses data refer to the corresponding period last year)

 

About the Company

Latvian Forest Company AB (publ) is a Swedish listed company that invests in and conducts forestry on highly valued forest 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 growth 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.

 

Annual report and results

The company management has concentrated on three main tracks during the third quarter. The first one was to close the deal with SCA, through a transfer of TEUR 100 in adjusted positive net operating capital according to the share transfer agreement signed between SCA and LFC. The company also made a dividend on Monday, July 4, 2019, as decided by the Annual General Meeting. Dividend to shareholders amounted to EUR 0.54 per share or a total of TEUR 11,076. The dividend was paid in Swedish kronor and corresponded to SEK 5.70 per share.

The second important task was to identify solutions for requirements for an intermediary relating to compensation for value increase in connection with the sale of all shares in the operating subsidiaries, by the former CEO and board member Fredrik Zetterström and Chairman Ted Alvenius. The company does not share their view about the legal interpretation of profit sharing. During the third quarter, the company has tried to reconcile with Fredrik Zetterström and Ted Alvenius.

On October 31, the Company was informed that Fredrik Zetterström had submitted to the Stockholm Chamber of Commerce Arbitration, notice where Fredrik Zetterström requires the company to pay TEUR 378 in profit share according to the employment contract. The company disputes Fredrik Zetterström's action and claims that it should be dismissed as the company considers that the CEO agreement signed by Fredrik Zetterström on February 18, 2011, replaces the previously signed employment contract.

In conjunction with the Board of Directors having agreed with former Chairman Ted Alvenius, the shareholders are called to a General Meeting on December 16 with proposal to approve the preliminary settlement with him. In conclusion, the settlement means that Ted Alvenius is dropping his future claims against LFC of just over EUR 464,000, together with interest, in respect of alleged entitlement under bonus agreements, against LFC paying to his individual firm 2,500,000 SEK excl. Vat.

Finally, the Company's Board of Directors has decided to continue its operations by investing in forest properties and conducting active forestry. During the third quarter, the company management has actively sought investment opportunities that have led to LFC acquiring 3,460 hectares of forest and agricultural land in Latvia after the end of the period. More about these investments can be found in the section on significant events after the end of the period. On August 19, LFC formed a subsidiary with the intention of investing in forest assets in Latvia - Baltijas Mezu Investicijas SIA.

The book result was TEUR 9,523.4 (2,020.5) for the first six months for the parent company. During the third quarter, the Group had a negative operating profit of TEUR 50,1.

According to previously disclosed information, the sale has resulted in a cost increase of approximately TEUR 670, of which TEUR 400 is a one-off cost for the settlement of the existing and previous forest management agreements, costs for legal advisers and increased personnel cost.  The company has not made any felling during the year. As a result, the Group had a negative operating profit equivalent to TEUR -806,6 (305.3). The company had TEUR 12,198 in liquid assets at the end of the third quarter and had paid down payments on properties under purchases equivalent to TEUR 211.8.

 

Financing

During the first nine months, no rights issues have been implemented. The company has no loans.

Financial 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. The so-called quota value of each share amounts to EUR 0,112 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 thinks that it still is a favorable market for acquiring individual properties and property portfolios, despite record strong interest among investors in forest assets in Latvia in 2019. The company management has observed that many of the local logging companies suffer from liquidity shortages that lead them to divest their property holdings of felled forest in order to obtain funds for the acquisition of new properties. This is because the prices of timber and pulp have been reduced by 10 - 12% compared to last year, while demand has fallen. This also affects individuals who previously chose to sell properties instead of carrying out the felling themselves. Their net income from sales is reduced and therefore such properties are offered to a wider clientele. This gives LFC an opportunity to acquire properties at a favorable price since the company has available liquid assets.

In addition, some of the smaller forest owners in Scandinavia are probing opportunities to sell their property holdings, for two reasons mainly. Administrative operating costs related to forest ownership in foreign markets are increasing and the new generation of forest owners no longer want to invest in owning forest abroad. In such cases, LFC is open to acquiring such assets by paying partly by cash and partly by issuing new shares.

Significant events after the end of the period

 

Latvian Forest Company AB has signed a purchase agreement for the acquisition of 3,460 hectares of forest and agricultural land in Latvia. As a result, the company's holdings will consist of 1,874 hectares of woodland, 1,218 hectares of agricultural land and 368 hectares of other land. The timber storage is estimated at 306,000 cubic meters of growing forest, of which 90,700 cubic meters are immediately fellable. 763 hectares of agricultural land are leased to local farmers. An additional 500 hectares of agricultural land and other land is expected by the company management to be converted to woodland. In total, the company including these acquisitions has invested approximately MEUR 7. The largest part or 2,030 hectares of the newly acquired properties are close to Rezekne. A further 215 hectares of 48,000 cubic meters of timber stock have been acquired through auction from Nica municipality in Western Latvia. The company has bought 203 hectares near Rauna in Drusti parish and 540 hectares in other parts of Livonia.

 

On November 12, the Company's Board of Directors has called the shareholders of Latvian Forest Company AB (publ), to an Extraordinary General Meeting on Monday, December 16, 2019, at 10:00 A.m. in Galjaden Fastigheter's premises on Linnégatan 18 in Stockholm. Among other things, the Board of Directors proposes the following items to the agenda:

  • to decide on the approval of settlement agreements with Ted Alvenius.
  • to change the articles of association and decide to describe the company's direction of business as described below.
  • to change the articles of association and decide on the re-stamping of Class A shares to Class B shares

The Board of Directors proposes that the Annual General Meeting decides to approve the preliminary settlement reached with LFC's former Chairman of the Board, Ted Alvenius. In conclusion, the settlement means that Ted Alvenius is dropping his claims against LFC of just over TEUR 464, plus interest, in respect of alleged entitlement under bonus agreements, against LFC paying to his individual firm SEK 2,500,000 excl. Vat.

The Board of Directors proposes that the Annual General Meeting decides to amend the business description in the articles of associations. The company shall carry out purchase and sale of land, preferably but not exclusively in Latvia. The company shall, directly or indirectly, carry out forestry operations including the granting of rights to the assets, marketing and sale of products derived from those assets. Furthermore, the company shall carry out the sale of consultancy services in respect of the above-mentioned industry, own and manage properties and carry out compatible activities. The company shall own and manage shares and other share certificates in industrial enterprises, operate industrial and commercial operations, preferably extensive forestry and forest industry, and other similar activities.

The Board of Directors also proposes that the Annual General Meeting decide to relabel 80,000 Class A shares into Class B shares. The share capital shall amount to EUR 2,297,307,432830 divided into 20,511,061 shares.

Next report

The interim report for the period January to December 2019 is scheduled to be published on February 20, 2020.

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.

 

For further information contact

Aleksandrs Tralmaks, CEO

+37129203972

aleksandrs.tralmaks@latvianforest.se

Or visit our website: www.latvianforest.se

KONCERNEN

         

KONCERNENS RESULTATRÄKNING, TEUR

 

 

 

 

 

 

YTD 2019

YTD 2018

Q3 2019

Q3 2018

Helår 2018

Nettoomsättning

15,6

707,1

0,0

351,1

1 198,7

Övriga intäkter

0,4

0,9

0,2

0,1

0,0

Summa intäkter

16,0

708,0

0,2

351,2

1 198,7

Råvaror och förnödenheter

 

-106,2

0,0

-33,6

-172,1

Övriga externa kostnader

-820,7

-261,3

-48,4

-61,6

-364,3

Personalkostnader

-1,9

-34,9

-1,9

-9,8

-44,1

Avskrivningar och nedskrivningar

 

-0,3

0,0

-0,1

-0,4

Operativt rörelseresultat

-806,6

305,3

-50,1

246,1

617,8

Reavinster fastighetsförsäljningar

0,0

3,1

0,0

0,0

3,1

Rörelseresultat före värdeförändring skog

-806,6

308,4

-50,1

246,1

620,9

Värdeförändring skog

0,0

1 806,1

0,0

1 350,9

1 913,9

Rörelseresultat

-806,6

2 114,5

-50,1

1 597,0

2 534,8

Finansiella intäkter

10 890,7

0,0

0,8

-0,5

0,0

Finansiella kostnader

-560,7

-94,0

-153,9

-1,7

-110,6

Finansnetto

10 330,0

-94,0

-153,1

-2,2

-110,6

Resultat före skatt

9 523,4

2 020,5

-203,2

1 594,8

2 424,2

Aktuell skatt

-

-

-

-

0,0

Uppskjutna skatter

-

-

-

-

0,0

ÅRETS RESULTAT

9 523,4

2 020,5

-203,0

1 594,8

2 424,2

 

AKTIEDATA

 

30.09.2019

30.09.2018

31.12.2018

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, euro

 

0,464

0,099

0,118

Eget kapital per aktie, euro

 

0,604

1,125

1,145

Kassaflöde från den löpande verksamheten per aktie, euro

-0,025

-0,005

0,007

 

 

 

 

 

 

 

 

 

KONCERNENS FÖRÄNDRINGAR I EGET KAPITAL

Aktiekapital

Övrigt tillskjutet kapital

Balanserade resultat inkl. årets 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

2 297,3

11 764,8

9 417,4

23 479,5

 

Eget kapital 1 januari 2019

2 297,3

11 764,8

9 417,4

23 479,5

 

Periodens resultat

 

 

9 523,4

9 523,4

 

Korrigering för tidigare bokförda övervärden på biologiska anläggningstillgångar (skog)

 

 

-9 544,5

-9 544,5

 

Utdelning till aktieägare

 

 

-11 076,0

-11 076,0

 

Eget kapital 30 september 2019

2 297,3

11 764,8

-1 679,7

12 382,4

 
           

 

           
           
           
           

KONCERNENS BALANSRÄKNING, TEUR

 

30.09.2019

30.09.2018

Helår 2018

 

TILLGÅNGAR

 

 

 

 

 

Skogsmark och övrig mark

 

 

7 837,8

8 102,0

 

Biologiska tillgångar, växande skog

 

 

16 003,0

16 472,0

 

Inventarier

 

 

0,9

0,8

 

Depositioner

 

5,1

5,9

5,3

 

Fastigheter under inköp

 

211,8

-

-

 

Summa anläggningstillgångar

 

216,9

23 847,6

24 580,1

 

Kundfordringar

 

 

111,3

242,6

 

Kortfristiga fordringar

 

7,2

95,6

67,5

 

Likvida medel

 

12 190,9

842,5

455,9

 

Summa omsättningstillgångar

 

12 198,1

1 049,4

766,0

 

SUMMA TILLGÅNGAR

 

12 415,0

24 897,0

25 346,1

 

EGET KAPITAL OCH SKULDER

 

 

 

 

 

Eget kapital

 

12 382,4

23 075,8

23 479,5

 

Räntebärande långfristiga skulder

 

-

1 758,8

-

 

Räntebärande kortfristiga skulder

 

-

-

1 758,8

 

Leverantörsskulder

 

14,0

8,4

39,7

 

Övriga skulder, ej räntebärande

 

2,3

5,0

5,7

 

Upplupna kostnader och förutbetalda intäkter

 

16,3

49,0

62,4

 

Summa skulder

 

32,6

1 821,2

1 866,6

 

SUMMA EGET KAPITAL OCH SKULDER

 

12 415,0

24 897,0

25 346,1

 

Ställda säkerheter

 

0,0

1 764,7

1 764,1

 

Soliditet

 

99,7%

91,8%

92,6%

 

Skuldsättningsättningsgrad

 

0,00

0,09

0,08

 
           

 

KONCERNENS KASSAFLÖDESANALYS, TEUR

 

30.09.2019

30.09.2018

Helår 2018

Rörelseresultat

 

-806,6

221,8

2 534,8

Justeringsposter:

 

 

 

-

 - Beräknad värdeförändring skog

 

0,0

-333,0

-1 913,9

 - Avskrivningar anläggningstillgångar

 

0,0

0,1

0,4

 - Erhållna räntor

 

87,2

-

-

 - Erlagda räntor

 

-12,8

-11,3

-49,0

 - Omräkningsdifferens av resultat i utländsk valuta

 

-8,3

0,1

-

Kassaflöde från den löpande verksamheten före förändringar av rörelsekapital

 

-740,5

-122,3

572,3

Kassaflöde från förändringar i rörelsekapital

 

227,7

-180,4

-428,6

Kassaflöde från den löpande verksamheten

 

-512,8

-302,7

143,7

Investeringsverksamheten

 

 

 

 

Försäljning av aktier i dotterföretag

 

1 259,0

-

-

Försäljning mark

 

7 890,2

-195,1

-612,2

Försäljning biologiska anläggningstillgångar

 

16 472,0

-65,3

-724,0

Försäljning maskiner och inventarier

 

0,8

-1,1

-1,1

Kassaflöde från investeringsverksamheten

 

25 622,0

-261,5

-1 337,3

Finansieringsverksamheten

 

 

 

 

Utdelning till aktieägarna

 

-11 076,0

-

-

Kapitalanskaffningskostnader

 

-

-2,0

-2,0

Förändring av lån

 

-1 758,8

-

-

Kassaflöde från finansieringsverksamheten

 

-12 834,8

-2,0

-2,0

ÅRETS KASSAFLÖDE

 

12 274,4

-566,2

-1 195,6

Likvida medel vid årets ingång

 

455,9

1 651,5

1 651,5

Valutaförändring i likvida medel

 

-539,4

-

-

Årets kassaflöde enligt ovan

 

12 274,4

-566,2

-1 195,6

Likvida medel vid periodens utgång

 

12 190,9

1 085,3

455,9

 

MÖDERFÖRETAGET

 

 

 

 

MODERFÖRETAGETS RESULTATRÄKNING, TEUR

       
 

YTD 2019

YTD 2018

Q3 2019

Q3 2018

Nettoomsättning

16,0

47,7

16,3

15,7

Övriga externa kostnader

-821,0

-97,1

-539,4

-19,8

Rörelseresultat

-805,0

-49,4

-523,1

-4,1

Resultat från finansiella investeringar

 

 

 

0,0

Finansiella intäkter

10 890,7

202,3

79,0

70,4

Finansiella kostnader

-560,0

-58,2

-175,5

10,1

Finansnetto

10 330,7

144,1

-96,5

80,5

Resultat efter finansiella poster

9 525,7

94,7

-619,6

76,4

PERIODENS RESULTAT

9 525,7

94,7

-619,6

76,4

 

       

 

       

MODERFÖRETAGETS BALANSRÄKNING, TEUR

 

 

 

 

 

30.09.2019

30.06.2018

Helår 2018

 

TILLGÅNGAR

 

 

 

 

Andelar i dotterföretag

2,9

6 073,9

6 073,9

 

Fordran koncernföretag

260,6

6 939,9

7 639,7

 

Depositioner

5,1

5,9

5,3

 

Summa anläggningstillgångar

268,6

13 019,7

13 718,9

 

Kortfristiga fordringar (Not 2)

7,2

37,0

16,1

 

Kassa och bank

12 140,5

839,5

243,0

 

Summa omsättningstillgångar

12 147,7

876,5

259,1

 

SUMMA TILLGÅNGAR

12 416,3

13 896,2

13 978,0

 

EGET KAPITAL OCH SKULDER

 

 

 

 

Eget kapital

12 384,7

13 870,1

13 934,9

 

Övriga skulder

15,7

9,3

27,1

 

Upplupna kostnader

15,9

16,8

16,0

 

Summa skulder

31,6

26,1

43,1

 

SUMMA EGET KAPITAL OCH SKULDER

12 416,3

13 896,2

13 978,0

 

Soliditet

99,7%

99,8%

99,7%

 
         

   

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

Utdelning till aktieägarna

 

 

-11 076,0

-11 076,0

Periodens resultat

 

 

9 525,7

9 525,7

Utgående eget kapital 30 september 2019

2 297,3

11 764,9

-1 677,5

12 384,7

  

MODERFÖRETAGETS KASSAFLÖDESANALYS, TEUR

30.09.2019

30.09.2018

Helår 2018

Rörelseresultat

-804,9

-45,3

-131,5

Justeringsposter:

 

 

 

 - Erhållna räntor

87,2

131,9

276,2

 - Erlagda räntor

-12,2

-

-

 - Realiserade valutakursförluster

-8,3

-

-

Kassaflöde från den löpande verksamheten före förändringar av rörelsekapital

-738,2

86,6

144,7

Kassaflöde från förändringar i rörelsekapital

-2,5

-38,4

6,8

Kassaflöde från den löpande verksamheten

-740,7

48,2

151,5

Investeringsverksamheten

 

 

 

Försäljning av andelar i dotterföretag

16 874,5

-

-

Kassaflöde från investeringsverksamheten

16 874,5

0,0

0,0

Finansieringsverksamheten

 

 

 

Kapitalanskaffningskostnader

-

-2,0

-2,0

Utdelning till aktieägarna

-11 076,0

 

-

Förändring av fordringar på koncernföretag

7 379,1

-842,3

-1 542,1

Kassaflöde från finansieringsverksamheten

-3 696,9

-844,3

-1 544,1

ÅRETS KASSAFLÖDE

12 436,9

-796,1

-1 392,6

Likvida medel vid årets ingång

243,0

1 635,6

1 635,6

Årets kassaflöde enligt ovan

12 436,9

-796,1

-1 392,6

Kursdifferens i likvida medel

-539,4

0,0

0,0

Likvida medel vid periodens utgång

12 140,5

839,5

243,0

 

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.

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.

Read more
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.

Read more
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. 

Read more
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)

Read more
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
Press release 2019-06-27
28.06.2019

Report from the Annual General Meeting
Latvian Forest Company AB (publ) held the Annual General Meeting on June 27, 2019.

Read more
Annual Report and Consolidated Financial Statements for Latvian Forest Company Aktiebolag (publ)
03.06.2019

Read more
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

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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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