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 twelve bond redemptions have taken place in total amount of 14,1
million kroons (0.9 million EUR). Detailed information about outstanding bonds
and finance lease receivables is available in the annual report for the period
ended on 31 December 2007.
More detailed information about financial results is disclosed in the annual
report for the period ended on 31 December 2007.
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 |
| | | 07 | 6 | | 007 | 6 |
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| Assets | | | | | | |
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| Cash and bank | | 58 747 | 1 885 341 | | 3 755 | 120 495 |
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| Finance lease | | 4 410 | 4 581 643 | | 281 865 | 292 820 |
| receivables | | 230 | | | | |
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| Other receivables | | 59 081 | 0 | | 3 776 | 0 |
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| Total assets | | 4 528 | 6 466 984 | | 289 396 | 413 315 |
| | | 058 | | | | |
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| Liabilities | | | | | | |
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| Issued Bonds | | 4 485 | 6 426 196 | | 286 671 | 410 709 |
| | | 420 | | | | |
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| Total liabilities | | 4 485 | 6 426 196 | | 286 671 | 410 709 |
| | | 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 | | -1 850 | 50 121 | | -118 | 3 203 |
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| Net profit/loss | | 1 850 | -51 971 | | 118 | -3 322 |
| for financial | | | | | | |
| year | | | | | | |
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| Total equity | | 42 638 | 40 788 | | 2 725 | 5 928 |
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| Total liabilities | | 4 528 | 6 466 984 | | 289 396 | 413 315 |
| and equity | | 058 | | | | |
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Income statement
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| | | EEK | EEK | | EUR | EUR |
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| | | 2007 | 2006 | | 2007 | 2006 |
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| Interest income from | | 280 | 551 471 | | 17 911 | 35 245 |
| the finance lease | | 248 | | | | |
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| Interest expense from | | -268 0 | -499 841 | | -17 128 | -31 946 |
| bonds | | 01 | | | | |
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| Net interest income | | 12 247 | 51 630 | | 783 | 3 299 |
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| Other revenues | | 59 081 | 0 | | 3 776 | 0 |
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| Operating expenses | | -85 | -104 800 | | -5 496 | -6 698 |
| | | 988 | | | | |
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| Other financial income | | 16 510 | 1 199 | | 4 832 | 77 |
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| Net profit / loss for | | 1 850 | -51 971 | | 119 | -3 322 |
| financial year | | | | | | |
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| Average number of | | 1 | 1 | | 1 | 1 |
| issued shares | | | | | | |
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| Basic and diluted | | 1 850 | -51 971 | | 119 | -3 322 |
| earnings per share | | | | | | |
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Paying agent and parent company:
AS Lõhmus, Haavel & Viisemann
Kerli Lõhmus
Chief Accountant
Tel: +372 6800 425
