Interim information of Invalda INVL for 6 months of 2019

Invalda INVL had equity of EUR 73 million, or EUR 6.28 per share, at the end of June 2019, which is 11.4% and 10.8% more, respectively, than at the start of the year.
 
In the first half of the year, Invalda INVL earned a profit of EUR 7.2 million. Its profit in the same period of 2018 was EUR 124 thousand.
 
The group’s companies had client assets under management of EUR 925.5 million at mid-year, an increase of 37% since the start of 2019.
 
Asset management business
 
“During the first half of this year the markets were favourable and in managing the assets entrusted to us we earned nearly EUR 65 million for clients at the group level. Due to good long-term investment results and our specialization, by the end of the reform of the pension system in Lithuania the number of people choosing the pension funds that we manage grew significantly,”said Darius Šulnis, the president of Invalda INVL.

The INVL Baltic Sea Growth Fund, after raising EUR 106 million in a successful first closing and becoming the largest private equity investment fund in the Baltics, has already made its first two investments and is now working on several other transactions.
 
“Prioritizing the interests of the clients who put their trust in us, we also seek to bring benefits to the companies and businesses we invest in. Thus, we are open and actively seek opportunities and projects that create value for all stakeholders and for the Baltic region,” Darius Šulnis said.

Revenues from asset management rose 36.7% in the reporting period compared to the first half of 2018, to EUR 4.7 million, while the profit from this business was EUR 0.4 million.

Investments

“It is our policy for Invalda INVL to invest its free funds together with INVL clients,” Darius Šulnis said. The fair value of investments in products the group manages exceeded EUR 25 million at the end of the first half of the year, and the company’s commitment to invest in the INVL Baltic Sea Growth Fund was EUR 15.8 million. Invalda INVL conducts its main investment activities through this fund.
 
Invalda INVL also has other historic investments whose total value at the end of the first half of this year was over EUR 35 million. The largest were the investments in Šiaulių Bankas and Litagra.
 
“Growth in the value of investments was the main factor that influenced Invalda INVL’s first-half results,” Darius Šulnis said.

Invalda INVL, operating since 1991, is one of the leading asset management groups in the Baltic countries. The companies that the group owns in Lithuania and Latvia manage more than 20 mutual and pension funds (2nd and 3rd pillar), alternative investments, individual portfolios, private equity, private debt, and other financial instruments. The group’s companies have assets under management of more than EUR 900 million, entrusted to them by more than 200 000 clients in Lithuania and Latvia as well as international investors. The shares of Invalda INVL have traded on the Nasdaq Baltic securities exchange since 1995.
 

Invalda INVL financial statements for 1H2019 
Invalda INVL Interim report for 1H2019
Factsheet for 1H2019
Management Confirmation

 
The person authorized to provide additional information:
Darius Sulnis
President of Invalda INVL
E-mail: darius.sulnis@invl.com

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