Unaudited information of Invalda INVL group for 6 months of 2020

Unaudited results of Invalda INVL AB group for the 6 months of 2020:
- consolidated net loss of Invalda INVL group amounted to EUR 4.2 million, in the same period of 2019 consolidated net profit was EUR 7.18 million;
- consolidated equity capital in the end of June 2020 amounted to EUR 73.73 million, in the end of 6 months of 2019 it was EUR 72.96 million.

The net loss of Invalda INVL for the 6 months of 2020 amounted to EUR 4.2 million, in the same period of 2019 the net profit was EUR 7.18 million. Equity capital of Invalda INVL in the end of 6 months of 2020 amounted to EUR 73.55 million, in the end of 6 months of 2019 it was EUR 72.96 million.

Additional information:

Invalda INVL, one of the Baltic region’s leading asset management groups, had equity of EUR 73.5 million at the end of June this year, or EUR 6.29 per share. The figures, after estimating the dividends paid, are about 5% less than at the end of 2019. Dividends paid out to Invalda INVL’s shareholders in May this year (at EUR 0.80 per share) reduced the company’s equity by EUR 9.3 million.

In the second quarter of this year, amid rising global financial markets and good operating results, a large part of Invalda INVL’s investments regained value “trimmed” early in the year by the coronavirus pandemic’s negative effects on markets. Invalda INVL’s unaudited net loss in the first half of 2020 was EUR 4.2 million, whereas in the same period last year the company had a profit of EUR 7.2 million.

“Overall market trends will again have a significant impact on changes in the value of investments. Invalda INVL and our business holdings are adapting to the rapidly changing environment, operating successfully and growing. We have a strong team and adequate financial resources that enable us even in periods of uncertainty to work purposefully and take advantage of the opportunities that arise,” says Invalda INVL President Darius Šulnis.

Despite a successful second quarter this year, the drop in market values early in the year still had an impact on the clients’ asset portfolio managed by the group’s companies; in the first half of 2020 a loss of EUR 43 million was suffered. The total value of assets under management increased to EUR 1054.7 million.

Asset management business

Invalda INVL’s revenue from the asset management business in the first half of this year was EUR 6.46 million and compared with the same period of 2019 increased 37.8%. The company earned EUR 0.45 million from the asset management business, which is 5.4% more than in the same period last year.