Unaudited information of Invalda INVL group for 9 months of 2019

Unaudited results of Invalda INVL AB group for the 9 months of 2019:



- consolidated net profit of Invalda INVL group amounted to EUR 13.65 million, in the same period of 2018 consolidated net profit was EUR 0.29 million;

- consolidated equity capital in the end of 9 months of 2019 amounted to EUR 79.67 million, in the end of 9 months of 2018 it was EUR 65.41 million;

The net profit of Invalda INVL for the 9 months of 2019 amounted to EUR 13.63 million, in the same period of 2018 the net profit was EUR 0.29 million. Equity capital of Invalda INVL in the end of 9 months of 2019 amounted to EUR 79.42 million, in the end of 9 months of 2018 it was EUR 65.41 million.

Additional information:

Invalda INVL, one of the Baltic region’s leading asset management groups, had equity of EUR 79.4 million, or EUR 6.84 per share, at the end of September this year (21.3% and 20.6% more, respectively, than at the end of 2018).

In the first nine months of this year, Invalda INVL earned a profit of EUR 13.6 million. In the same period of 2018, its profit was EUR 289 thousand.

The group’s companies had client assets under management of EUR 994.6 million at the end of September, an increase of 47.3% from the start of 2019. As of the end of October, the figure had risen to EUR 1.006 billion.

Asset management business

“First of all, we’re pleased that in the first three quarters of this year we earned more than EUR 89 million for clients. That was mainly influenced by growth of prices in global financial markets and successful management of the assets entrusted to us. Thanks to these factors as well as INVL pension funds’ increasing market share in Lithuania, which also reflects the choice people made during the pension reform of 2019, and the successful start of the INVL Baltic Sea Growth Fund, which is the group’s main private equity fund, our assets under management now exceed 1 billion euros,” Invalda INVL President Darius Šulnis said.

He said the group’s current priorities are active investments and rational exploitation of opportunities that are arising in the market.

Investments

At the end of September 2019, investments in products that the Invalda INVL group manages totalled more than EUR 29 million, and there was a commitment to invest EUR 15.7 million in the INVL Baltic Sea Growth Fund. Invalda INVL also has other historic investments whose total value at the end of September was over EUR 37 million. The group hasn’t any borrowings.

“Growth in the value of investments in Šiaulių Bankas, Litagra and Moldova-Agroindbank had the biggest impact on Invalda INVL’s 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, and private debt instruments. The group’s companies have more than EUR 1 billion of assets under management, entrusted to them by over 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.

The person authorized to provide additional information is:

Darius Sulnis, President of Invalda INVL

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