Emitents | Reverta, AS (iepriekšējais nosaukums - Parex banka, AS) (097900BHBR0000064855) |
Veids | Finanšu pārskati |
Valoda | EN |
Statuss | Publicēts |
Versija | |
Datums | 2017-05-31 14:34:36 |
Versijas komentārs | |
Teksts |
In the first three months of 2017 (hereinafter also referred to
as the Reporting Period), Joint Stock Company Reverta continued
efforts to work out the distressed assets and to recover funds, at
the same time, working actively to sell the remaining loan
portfolios and to get ready for the planned liquidation of the
company. In February 2017, Reverta made a regular interest payment to the
State Treasury in the amount of EUR 3.7 M. Overall, since the
beginning of this year, the State Treasury has received from
Reverta EUR 7.3 M because another payment of EUR 3.6 M was made
already after the Reporting Period. Since 1 August 2016 till the
end of Reporting Period, Reverta has repaid the State Treasury more
than EUR 430 M but the total amount repaid to the State in the form
of various payments is EUR 690.3 M, including EUR 16 M paid in
tax. During the Reporting Period, Reverta recovered EUR 13.5 M from
the workout and sales of distressed assets, but the total amount of
recovered funds since 1 August 2010 has reached EUR 753.7 M which
is 67 per cent of all distressed assets left to Reverta after the
takeover and split of Parex Bank. This result significantly exceeds
initial estimates of the company’s management and also the average
figures of the distressed assets sector. Good results have been achieved also in the sales of real estate
properties – during the Reporting Period 17 real estate objects,
including land plots, were sold for the total amount of EUR 4.3 M.
By the end of the Reporting Period, the real estate portfolio had
decreased to approximately 50 objects and it is planned that the
remaining real estate properties will be sold by the completion of
the liquidation of the company. During its operation, Reverta has
sold a total of 1800 real estate properties. This result confirms
the correctness of Reverta’s chosen sales strategy: to establish a
small and efficient sales unit with ambitious but clearly defined
goals and tasks in place, to review the prices of the real estate
objects on a regular basis and in line with market realities, and
also to identify and address appropriate target audience. During the Reporting Period, Reverta’s losses were in the amount
of EUR 5.7 M and consisted mainly of interest expense on the State
aid. In view of the low quality of the assets left to Reverta,
losses were incorporated already in the Restructuring Plan and
cannot be regarded as the measure of the performance of
Reverta. Reverta’s total assets at the end of the Reporting Period were EUR 51.6 M, as compared to EUR 1.1 B at the start of operation. Reverta has already worked out and disposed of all other assets, and the recovered funds have been repaid to the State. To suit the reducing assets and the liquidation process that
will be commenced soon, Reverta’s operation has been adjusted and
the staff numbers have been decreased. Events after the end of the Reporting Period: |
Pielikumi |