LHV Ilmarise Kinnisvaraportfelli OÜ started its activities in 2005 when it took
over property finance lease portfolio from OÜ Ilmarise Kvartal and carried out a
placement of bonds backed with those finance lease agreements. Bonds issued
amounted to 18.5 million kroons (1.2 million EUR) with maturity up to 2029.
Underlying property is mainly situated in Tallinn Ilmarise District.
As at today fourteen bond redemptions have taken place in total amount of 14,2
million kroons (0.9 million EUR). Detailed information about outstanding bonds
and finance lease receivables is available in the I half-year interim report for
the period ended on 30 June 2008.
More detailed information about financial results is disclosed in the I
half-year interim report for the period ended on 30 June 2008.
Balance sheet
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| | | EEK | EEK | | EUR | EUR |
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| | | 31.12. | 31.12.20 | | 31.12.2 | 31.12.20 |
| | | 2008 | 07 | | 008 | 07 |
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| Assets | | | | | | |
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| Cash and bank | | 120 | 58 747 | | 7 676 | 3 755 |
| | | 110 | | | | |
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| Finance lease | | 4 331 | 4 410 | | 276 843 | 281 865 |
| receivables | | 653 | 230 | | | |
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| Other receivables | | 10 381 | 59 080 | | 663 | 3 776 |
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| Total assets | | 4 462 | 4 528 | | 285 183 | 289 396 |
| | | 144 | 058 | | | |
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| Liabilities | | | | | | |
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| Supplier payables | | 4 720 | 0 | | 302 | 0 |
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| Issued Bonds | | 4 414 | 4 485 | | 282 156 | 286 671 |
| | | 786 | 420 | | | |
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| Total liabilities | | 4 419 | 4 485 | | 282 458 | 286 671 |
| | | 506 | 420 | | | |
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| Equity | | | | | | |
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| Share capital | | 40 000 | 40 000 | | 2 556 | 2 556 |
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| Statutory reserve | | 2 638 | 2 638 | | 169 | 169 |
| capital | | | | | | |
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| Retained earnings | | 0 | -1 850 | | 0 | -118 |
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| Net profit/loss for | | 0 | 1 850 | | 0 | 118 |
| financial year | | | | | | |
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| Total equity | | 42 638 | 42 638 | | 2 725 | 2 725 |
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| Total liabilities and | | 4 462 | 4 528 | | 285 183 | 289 396 |
| equity | | 144 | 058 | | | |
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Income statement
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| | | EEK | EEK | | EUR | EUR |
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| | | 6 | 6 months | | 6 | 6 months |
| | | months | | | months | |
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| | | 2008 | 2007 | | 2008 | 2007 |
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| Interest income from | | 136 | 141 894 | | 8 704 | 9 069 |
| the finance lease | | 187 | | | | |
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| Interest expense from | | -127 | -138 339 | | -8 127 | -8 841 |
| bonds | | 163 | | | | |
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| Net interest income | | 9 024 | 3 555 | | 577 | 228 |
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| Operating expenses | | -79 | -61 705 | | -5 062 | -3 944 |
| | | 200 | | | | |
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| Other financial income | | 70 176 | 60 000 | | 4 485 | 3 835 |
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| Net profit / loss for | | 0 | 1 850 | | 0 | 119 |
| financial year | | | | | | |
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| Average number of | | 1 | 1 | | 1 | 1 |
| issued shares | | | | | | |
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| Basic and diluted | | 0 | 1 850 | | 0 | 119 |
| earnings per share | | | | | | |
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Paying agent and parent company:
AS Lõhmus, Haavel & Viisemann
Kerli Lõhmus
CFO
Tel: +372 6800 425
