Audited results of Invalda INVL Group for 2023

Invalda INVL, which is the leading asset management group in the Baltics, had equity of EUR 178 million at the end of 2023, or EUR 14.83 per share. The figures were 36.1% and 34% larger, respectively, than a year earlier. 

Invalda INVL had record earnings last year. Its audited net profit was EUR 45.82 million, or 2.7 times the 2022 profit of EUR 16.67 million. 

“2023 was a successful and strategically important year for the Invalda INVL group. Sustained and focused efforts to build and grow the business with a favourable economic landscape across the target markets and sectors we invest in led to significant profits being returned to our investors and for the Group,” says Darius Šulnis, the CEO of Invalda INVL. 

“While we take the current geopolitical situation extremely seriously, we are continuing with our efforts to the benefit of our investors as we seek to further strengthen our businesses and creating value for the geographies where we operate. In order to provide our client base with the diversification they need, we also invest a significant part of their money outside the region,” Šulnis adds.  

Client assets under management by the companies of the group totalled EUR 963.7 million at the end of 2023. Gains of EUR 192.7 million were earned for the group’s clients during the year.  

The Asset Management and Family Office Business  

Invalda INVL’s revenue from the asset management business, i.e. the management of clients’ assets, was EUR 16,83 million in 2023 and grew by 10.9% versus 2022. 

“In 2023, we also completed an important strategic transaction to merge our long and successfully built retail investment management and life insurance business with Šiaulių Bankas. This will enable its clients to benefit from a product or service solution that is both convenient and creates optimal value-add for them now from a single source. We anticipate continued growth for this business moving forward, leading to an increase in the value of the Šiaulių Bankas share price. Given that our core asset management business is accounted for at a historical cost, the transaction captured a fair value for the retail business,” the CEO says.