ENR Russia Invest SA announces anticipated 2012 Consolidated Net Profit and Attributable Net Asset Value per share as well as a new private equity transaction
2013-02-22 18:31:40 -
ENR Russia Invest SA /
ENR Russia Invest SA announces anticipated 2012 Consolidated Net Profit and
Attributable Net Asset Value per share as well as a new private equity
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The issuer is solely responsible for the content of this announcement.
2012 Consolidated Net Profit and Attributable Net Asset Value per share
ENR Russia Invest SA ("ENR" or the "Company") anticipates posting a
net profit of some CHF 20 million for the 2012 financial year which ended on 31
December 2012 (2011: CHF 7.21 million consolidated net loss). The 2012 numbers
are currently being audited and ENR's audited results will be released before
30 April 2013.
The sharp increase in the Company's 2012 net profit, amongst other things, was
due to ENR's successful exit from its private equity investment in Eastern
Property Holdings Limited ("EPH"). On 20 December 2012 ENR announced that the
sale of its investment in EPH will have a positive impact on its net asset value
("NAV"). The 2012 year-end attributable NAV per share of ENR is anticipated to
be around the CHF 45 levels (CHF 37.74 at year-end 2011), representing an
increase of some 20% year-on-year. This brings the NAV of ENR in CHF up to the
pre-crisis levels in 2007.
New private equity transaction
ENR, via its Cyprus subsidiary ENR Investment Limited ("ENR Investment") has
signed transaction agreements with OOO RS Nedvizhimost ("RSN") operating under
the OptCvetTorg® brand for a new private equity transaction in the Russian
Federation ("Russia"). ENR Investment will have a 50% interest in this flower
retail business and will invest €1.4 million, subject to agreed business plan
benchmarks being achieved. RSN sources ready-made flower bouquets from a leading
fresh-cut long stem flower producer ("Flower Production Unit") in Russia and via
a chain of some 24 indoor based outlets sells these flower bouquets to the
public. With this transaction ENR gains a foothold in a growth segment of the
Russian consumer economy and it is planned to make a follow on investment in the
Flower Production Unit.
The parties to the flower retail transaction are attending to practical
implementation steps and hope to fully close out the transaction within some 45
Contact person: Ben de Bruyn, ENR Russia Invest SA, tel: +41 22 716 1000
ENR Russia Invest is an investment company listed on the SIX Swiss Exchange. It
specialises in the management of equities and equity-like investments as well as
fixed income instruments in Russia, the CIS States and the Baltic States.
Additional information on ENR Russia Invest is available on the company website
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Source: ENR Russia Invest SA via Thomson Reuters ONE