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 sixteen 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 interim financial statements
for the period ended on 31 December 2008.
More detailed information about financial results is disclosed in the interim
financial report for the period ended on 31 December 2008.
Balance sheet
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| | | EEK | EEK | | EUR | EUR |
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| | | 31.12.20 | 31.12.200 | | 31.12.2 | 31.12.200 |
| | | 08 | 7 | | 008 | 7 |
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| Assets | | | | | | |
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| Cash and bank | | 116 511 | 58 747 | | 7 446 | 3 755 |
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| Finance lease | | 4 | 4 410 230 | | 271 361 | 281 865 |
| receivables | | 245 873 | | | | |
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| Other receivables | | 31 090 | 59 081 | | 1 987 | 3 776 |
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| Total assets | | 4 | 4 528 058 | | 280 794 | 289 396 |
| | | 393 474 | | | | |
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| Liabilities | | | | | | |
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| Prepayments | | 8 949 | 0 | | 572 | 0 |
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| Issued Bonds | | 4 | 4 485 420 | | 277 497 | 286 671 |
| | | 341 887 | | | | |
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| Total liabilities | | 4 | 4 485 420 | | 278 069 | 286 671 |
| | | 350 836 | | | | |
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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 | | 0 | 1 850 | | 0 | 118 |
| for financial | | | | | | |
| year | | | | | | |
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| Total equity | | 42 638 | 42 638 | | 2 725 | 2 725 |
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| Total liabilities | | 4 | 4 528 058 | | 280 794 | 289 396 |
| and equity | | 393 474 | | | | |
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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 | | 133 | 138 354 | | 8 561 | 8 842 |
| the finance lease | | 951 | | | | |
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| Interest expense from | | -125 | -129 662 | | -8 012 | -8 287 |
| bonds | | 360 | | | | |
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| Net interest income | | 8 591 | 8 692 | | 549 | 555 |
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| Operating expenses | | -34 | -24 283 | | -2 188 | -1 552 |
| | | 242 | | | | |
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| Other financial income | | 25 652 | 15 591 | | 1 639 | 997 |
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| Net profit / loss for | | 0 | 0 | | 0 | 0 |
| financial year | | | | | | |
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| Average number of | | 1 | 1 | | 1 | 1 |
| issued shares | | | | | | |
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| Basic and diluted | | 0 | 0 | | 0 | 0 |
| earnings per share | | | | | | |
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Paying agent and parent company:
AS Lõhmus, Haavel & Viisemann
Kerli Lõhmus
CFO
Tel: +372 6800 425
