MAIN ARTICLES OF PROFIT & LOSS STATEMENT
| EUR thousand | 9M 2025 | 9M 2024 |
| Revenue from strategic business | 13,723 | 9,053 |
| Profit from strategic business (including net changes in fair value) | 2,241 | 13,931 |
| Profit from other investments | 11,587 | 12,380 |
| Operating profit | 14,378 | 26,713 |
| Net profit (Group & Company) | 13,884 | 25,788 |
NET ASSET VALUE BREAKDOWN
| EUR thousand | 30/09/2025 | 30/09/2024 |
| Investments | 231,490 | 215,431 |
| Cash & cash equivalents | 6,506 | 926 |
| Other assets | 687 | 2,880 |
| Total assets | 238,683 | 219,237 |
| Total liabilities | -16,695 | -16,756 |
| NET ASSET VALUE | 221,988 | 202,481 |
| NET ASSET VALUE PER SHARE | 18.41 | 16.85 |
FINANCIAL RATIOS
| 30/09/2025 | 30/09/2024 | |
| Return on Equity (ROE), trailing 12 months, % | 15.3 | 40.2 |
| Debt – equity ratio | 0.09 | 0.09 |
| Earnings per share (EPS), EUR | 1.15 | 2.14 |
| Price to Book (P/B) | 1.26 | 0.85 |
The definitions of the used indicators and the calculation methodology are provided on the company’s website Formulas of performance indicators – Invalda INVL