Invalda INVL Group Reports Growth in 2024 Financials
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Invalda INVL Group Reports Strong Growth in 2024
Invalda INVL, a leading Baltic asset management group, has made significant strides in its financial performance during the first half of 2024. By the end of June, the group reported that its client assets under management surged to EUR 1.58 billion, reflecting a 10% growth since the beginning of the year. This impressive achievement equates to gains of EUR 60.3 million for their clients within this period.
Improved Financial Metrics
As of June 2024, Invalda INVL’s total equity stood at EUR 189.07 million, translating to EUR 15.66 per share. These figures illustrate a remarkable increase of 46.6% and 43.6%, respectively, compared to the previous year, factoring in dividend payouts. In a notable turnaround, the group recorded an unaudited net profit of EUR 11.71 million during the first half of this year, in stark contrast to a loss of EUR 1.41 million reported during the same period last year.
Strategic Focus and Future Goals
The CEO of Invalda INVL, Darius Šulnis, emphasized the group's commitment to their main objective: managing entrusted assets effectively while exploring new market opportunities. This strategy remains integral to the continued growth and development of the group's operations.
Successful Public Offering
In a noteworthy financial move, Invalda INVL completed its first public offering of notes in June 2024, raising EUR 10 million. The offering attracted significant interest, being oversubscribed by 2.9 times, as Baltic institutional and retail investors showed strong demand. The Bank of Lithuania has greenlit a base prospectus allowing Invalda INVL to issue up to EUR 25 million in public notes, showcasing the group's robust market positioning.
Asset Management and Family Office Development
Invalda INVL generated EUR 5.96 million in revenue from its asset management and family office sector in the first half of the year, despite a 23% decline compared to the same period in 2023. This revenue drop stems from the transition of retail business revenues to Šiauli? Bankas in December of the previous year. However, the strategic business unit, which encompasses investments managed by the group, reported a profit of EUR 5.33 million, a notable recovery from a loss of EUR 2.22 million last year.
Launching New Investment Funds
One of the key initiatives for the year is the establishment of the INVL Private Equity Fund II, launched in April. The fund aims to build upon the successes of the INVL Baltic Sea Growth Fund and is set to invest in businesses across the Baltics, Poland, and neighboring regions. The fund is targeting a minimum raise of EUR 250 million and is positioned to be the largest of its kind in the Baltics, with an ambitious hard cap of EUR 400 million.
Investments in Sustainable Initiatives
Invalda INVL is also making strides in sustainable investments. The INVL Sustainable Timberland and Farmland Fund II secured EUR 17.6 million in loans during the second quarter for sustainable projects in forestry and land management. Additionally, the INVL Renewable Energy Fund I received EUR 24.4 million in financing from reputable institutions for a solar power plant project in Romania, with a commitment to invest over EUR 330 million in renewable projects in Romania and Poland by 2026.
Equity Investments Performance
The group’s other equity investments yielded a EUR 7 million impact on earnings in the first half of 2024. Invalda INVL benefited from the solid performance of its banking stakes, particularly from Šiauli? Bankas and Moldova-Agroindbank, which contributed EUR 5.81 million and EUR 2.29 million to the company’s pretax profit respectively.
Strategic Acquisitions and Challenges
In a strategic move, Invalda INVL, in collaboration with Tesonet Global and Willgrow, acquired a 16.33% stake in Šiauli? Bankas from the European Bank for Reconstruction and Development in May. This acquisition increased Invalda INVL's total shareholding in the bank to 19.93%. In contrast, the performance of Litagra, one of Lithuania’s leading agribusiness firms, posed challenges as it negatively impacted Invalda INVL's investments by EUR 1.1 million. CEO Darius Šulnis remains optimistic for improved results in the coming quarters.
Understanding Assets Under Management
It is essential to clarify the concept of Assets under Management (AuM). AuM represents the total assets managed or supervised by Invalda INVL and generally includes the fair value of managed assets and uncalled capital commitments. The calculated AuM can vary among asset managers, and as such, these metrics may not be directly comparable.
Contact Information
For those seeking additional insights and information, contact Darius Sulnis, the CEO of Invalda INVL, via email at Darius.Sulnis@invl.com.
Frequently Asked Questions
What defines Invalda INVL's growth in 2024?
Invalda INVL achieved a 10% growth in client assets under management, reaching EUR 1.58 billion by mid-2024.
How did Invalda INVL perform financially in 2024?
The group reported an unaudited net profit of EUR 11.71 million in the first half of 2024, a strong recovery compared to the previous year's loss.
What are the priorities for Invalda INVL in the coming year?
The main focus is on managing investments efficiently and launching new funds to tap market opportunities.
How is Invalda INVL contributing to sustainable investments?
The group is involved in various sustainable projects, including renewable energy investments and sustainable timberland management.
How can investors reach out to Invalda INVL for more information?
Investors can contact Darius Sulnis, CEO of Invalda INVL, via email at Darius.Sulnis@invl.com for inquiries.
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