LHV Institutional Baltic Insight, August 31st, 2021
* Olainfarm (OLF1R LR) reported its Q2 2021 results on 27th August 2021, beating our revenues expectations slightly but missing our profit forecast. In Q2 2021, total revenues amounted to EUR 33.2m (-2.4% y-o-y), slightly exceeding our projected range of EUR 30-33m.* The mandatory buyback of Olainfarm shares successfully ended on 17th August 2021. According to the report submitted by AB CITY during the offer, 2,427,408 shares (17.23% of the total number of voting rights) of Olainfarm were acquired. Along with an earlier stake of 30.85 %, the Offeror will now have a 48.08% stake in Olainfarm.
* Please also refer to the tables in the attachment.
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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