LHV Institutional Baltic Insight, February 17th, 2021
* Baltic Horizon Fund (NHCBHFFT ET) published a full set of Q4 2020 figures on Monday, whereas the core rental income and net profit numbers did not differ materially from those indicated in their monthly NAV announcements earlier. As predicted, the Fund’s Q4 2020 results came in somewhat disappointing, being negatively impacted by the ongoing COVID-19 pandemic and related lockdown measures imposed in the Baltics. EfTEN Real Estate Fund III (EFT1T ET) announced its Q4 2020 results on 16th February. The reported figures do not differ significantly from the preliminary numbers indicated in their monthly performance, and NAV announcements published earlier.* Linda Nektar's (LINDA ET) H2 2020 results came in broadly in line with our estimates, although the reported figures are at the lower end of the expected range in terms of total revenues and net profits. The management claims that the numbers are in line with their guidance, and the Company has been progressing well with the planned changes in the product portfolio during the last year.
* In November 2020, Novaturas AB (NTU1L LH) was forced to suspend its operations again, following the measures implemented by the governments in the Baltic States to contain the COVID-19 pandemic. The operations remained temporarily suspended in January 2021 and the Company operated only return flights to return travelers from Tenerife. Please also refer to the tables in the attachment.
Linda Nektar AS is an Estonia-based company specialized in the beverage industry. The Company mainly specializes in the production of fermented beverages for the drinks industry. Its portfolio includes Fruit wines, which uses mainly apple concentrate; Ferments , which includes a range of ferments that contain raw materials taken from fruits, sugars or malt, and Aroma Technology, which specializes in technologies for the capturing and recovery of flavors in wine.
Novaturas AB is a Lithuania-based company, which is engaged in the provision of travel services in the Baltic countries. The Company operates through three divisions: All Inclusive vacation packages around all time year; Sightseeing tour by coach and plane to approximately 30 destinations across the world, as well as ski trips. It also offers airline tickets and hotel accommodations. It sells tours through travel agencies and its Website.
LHV Bank is an independent pan-Baltic bank, based on Estonian capital. The company was founded in 1999 by two founders of Hansapank (today’s Swedbank in the Baltics) and has been offering a full range of investment services for 15 years. In May 2009, LHV received a credit institution licence allowing it to provide all banking services.
The head office is situated in Tallinn, Estonia. Cross-border services are offered in Vilnius, Lithuania and in Riga, Latvia. LHV provides brokerage (institutional and retail), asset management, banking and capital markets services. Compared to other banks, we are more innovative and have more solid experience in investment and entrepreneurship.
The Bank, together with the Group asset management company employs over 320 people. LHV Group shares are listed on Nasdaq Tallinn.
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