AB Invalda INVL audited annual financial statements for 2019 and allocation of dividends for the year 2019 - Seite 2

“This year the main management priority is adapting to the new reality sparked by the coronavirus pandemic. First of all, we aim to preserve maximum value of the investments entrusted to us and, seizing opportunities, undertake new ones,” Darius Šulnis said. He also noted, that the INVL Baltic Sea Growth Fund intends to make significant investments this year. Moreover, capitalising on the team’s experience and historical success and considering market opportunities and needs, the start of a second fund to invest in forest and agricultural land is planned.

Investments

At the end of 2019, investments in products that the Invalda INVL group manages amounted to more than EUR 32 million, while the legacy investments totalled more than EUR 41 million.

“The value of Invalda INVL’s investment portfolio grew during 2019, with gains of EUR 17.8 million for the company. That result was influenced most by growth in the value of investments in Šiaulių Bankas, Litagra, Moldova-Agroindbank and INVL Baltic Real Estate,” Darius Šulnis said.

“We have a stated policy of investing together with our clients, thus seeking maximum alignment of the interests of investors and the general partner. We continuously increase such investments – with the final closing of the INVL Baltic Sea Growth Fund, the decision was made to invest a total of EUR 20.1 million in that fund, continuing Invalda INVL’s long years of activity in the area of private equity investments,” Šulnis said.

In his view, looking at last year and this year, the cyclicality of the economy is obvious, where times of growth are followed by more difficult periods, being replaced by growth again. We have entered a period of uncertainties and challenges during which a decrease in the value of some investments, with related losses, is highly likely. “For our part, we are prepared for such changes: we have a strong team of professionals and a sustainable business model, we do not have financial debt, and we have sufficient financial reserves. Moreover, the downturn is a good time to enhance and develop Invalda INVL’s asset management business, investing and seizing opportunities that arise in the markets, so that, once it is over, we are even better and stronger,” Invalda INVL’s president said.