AB Invalda INVL audited annual financial statements for 2019 and allocation of dividends for the year 2019

The public joint-stock company Invalda INVL AB (hereinafter - the Company) informs that the audit of  Company's annual financial statements for 2019 has been completed. The consolidated annual financial statements, together with the annual consolidated report, are submitted to the General Shareholders Meeting to be held on 30 April 2020.

The Board of the Company decided to propose to the General Shareholders Meeting of the Company to be held on 30 April 2020 to allocate a dividend of EUR 0.80 per share for the year 2019 (the total amount allocated for dividends would be EUR 9.288 million).

Additional information:

Invalda INVL, one of the Baltic region’s leading asset management groups, had equity of EUR 86.8 million at the end of 2019, or EUR 7.47 per share (which is 32.5% and 31.8% more, respectively, than at the end of 2018). The net profit Invalda INVL earned last year was EUR 20.8 million, compared to a 2018 figure of EUR 0.34 million. The change in profit was mainly due to the increased value of investments.

Assets under management  of more than 230 000 clients of the group’s companies exceeded EUR 1 billion at the end of 2019 and increased by 54% during the year.

Asset management business

“The year 2019 was good for the Invalda INVL group. We continued focused work and global markets were also favourable. That allowed us to earn EUR 140 million for the people who entrusted us to manage their assets. All the products the group manages generated a positive return, and some were the best in their categories,” Invalda INVL President Darius Šulnis said.

Last year, he said, large forest and real estate sale transactions took place, thereby realizing part of the value created, earning a significant profit for investors and accumulating cash that they will be able to use in the current market environment. The INVL Baltic Forests Fund I had an average annual return of 27% for the last few years (EUR 20 million was paid out to investors in 2019), and that of INVL Baltic Real Estate was nearly 19% (EUR 20.4 euros of dividends to investors were approved in 2020).

“Team’s professionalism and Invalda INVL’s long-term work led to the fastest in the market growth of the number of clients during the pension fund reform and a successful start of the INVL Baltic Sea Growth Fund, the largest private equity investment fund in the Baltic region,”  Darius Šulnis said.

Invalda INVL’s revenue from the asset management business in 2019 totalled EUR 11.3 million. Despite extensive investments in growth of the asset management business and their negative effect on current operating results, in 2019 the company earned EUR 2.3 million from the asset management business.