MAIN ARTICLES OF PROFIT & LOSS STATEMENT
| EUR thousand | 1H 2025 | 1H 2024 |
| Revenue from strategic business | 8,733 | 5,955 |
| Profit from strategic business (including net changes in fair value) | 2,933 | 5,330 |
| Profit from other investments | 15,936 | 6,304 |
| Operating profit | 19,238 | 11,847 |
| Net profit (Group & Company) | 18,010 | 11,712 |
NET ASSET VALUE BREAKDOWN
| EUR thousand | 30/06/2025 | 30/06/2024 |
| Investments | 237,109 | 203,674 |
| Cash & cash equivalents | 5,700 | 558 |
| Other assets | 3,029 | 3,436 |
| Total assets | 245,838 | 207,668 |
| Total liabilities | 19,940 | 18,594 |
| NET ASSET VALUE | 225,898 | 189,074 |
| NET ASSET VALUE PER SHARE | 18.73 | 15.66 |
FINANCIAL RATIOS
| 30/06/2025 | 30/06/2024 | |
| Return on Equity (ROE), trailing 12 months, % | 24.4 | 37.0 |
| Debt – equity ratio | 0.10 | 0.10 |
| Earnings per share (EPS), EUR | 1.50 | 0.98 |
| Price to Book (P/B) | 1.05 | 0.89 |
The definitions of the used indicators and the calculation methodology are provided on the company’s website Formulas of performance indicators – Invalda INVL