Unaudited information of Invalda INVL group for 6 months of 2020 - Seite 2

“The strategic Invalda INVL asset management business withstood the initial challenges provoked by the pandemic: it is generating positive cash flows and developing resolutely. Our main priority remains the same in times of instability too – to preserve and grow the value of clients’ assets and to perform actions and investments that create the conditions for profit in the future,” the president of Invalda INVL states.

At the start of this year, the INVL Baltic Sea Growth Fund, the largest private equity investment fund in the Baltic region, successfully held its final closing and attracted nearly EUR 165 million from investors. In addition, in late June the fund acquired a controlling stake (52.81% of shares) in Eco Baltia, the largest plastic recycling and waste collection group in the Baltics. The fund is actively working on several potential transactions and continues seeking companies that fit its investment strategy.

The real estate investment company INVL Baltic Real Estate in March sold the IBC Business Centre in Vilnius for EUR 33 million. After the transaction, dividends of EUR 20.4 million were paid out to investors.

According to Darius Šulnis, several investment projects for clients of the group are now in progress, of which at least one – INVL’s second forest and agricultural land fund – should launch in the near future.

Investments

At the end of the June this year, the value of investments in products that the Invalda INVL group manages totalled more than EUR 26 million, while that of other historical investment holdings was over EUR 35 million. A loss of EUR 12.3 million was sustained from the decline in the value of investments during the first half of 2020, but EUR 7.2 million of dividends were received.

“As we had anticipated, companies, which are successfully operating and adapting to market changes, are recovering value – the value of some of them is already higher than it was at the end of 2019. We would expect such trends to continue if global and/or macroeconomic indicators do not sharply deteriorate. To remain competitive and grow in the current environment, it’s vital to be able to quickly change and seize opportunities, which is what we intend to continue doing,” Invalda INVL’s president says.