Published: 2021-05-31 08:40:20 CEST
Invalda INVL
Notification on material event

Unaudited information of Invalda INVL group for 3 months of 2021

Invalda INVL’s equity at the end of March this year was EUR 86 million, or EUR 7.36 per share, which is 3.5% larger than at the end of 2020.

In the first quarter of this year Invalda INVL had a profit of EUR 2.8 million. In the same period last year it had a loss of EUR 10.6 million. 

The group’s client assets under management at the end of the first quarter totalled EUR 1.33 billion, which is 6.4% more than at the start of 2021 (EUR 1.25 billion).

Asset management business

“The start of the year was successful for most of the funds that the group manages, with gains of EUR 62.9 million earned for clients in the first quarter. That, to a significant degree, is also why assets under management grew. Nonetheless, reduced management fees for 2nd pillar pension funds and a lack of success fee income negatively affected the quarterly results for this business,” said Invalda INVL President Darius Šulnis.

Invalda INVL’s revenue from the asset management business in the first quarter was EUR 2.8 million and compared to the corresponding period of 2020 decreased 29.8%. The company’s profit from the asset management business in the reporting period was EUR 0.09 million, which is about one-fourth the level in the first quarter last year.

“We are pleased that already completed investments have earned a return for our clients and so during the first quarter INVL Baltic Real Estate paid out EUR 11 million to investors via share buy-back. We continue working on new opportunities and growth of the business,” Darius Šulnis said.

Investments

The value of investments in products which the Invalda INVL group manages totalled more than EUR 26 million at the end of the first quarter this year, while that of other historical investment holdings was over EUR 42 million. Increase in the value of investments in the period resulted in a gain of EUR 3 million.

In March, the group sold shares of INVL Baltic Real Estate for EUR 5.3 million, reducing its stake in the company to 14.37%.

“There were no major changes in the value of specific holdings in the quarter. We believe successful activities of the various companies and funds will translate into growth in the value of investments this year,” Darius Šulnis said.

The person authorized to provide additional information is:
Darius Sulnis, President of Invalda INVL
E-mail Darius.Sulnis@invl.com

 

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Factsheet_Invalda INVL_2021Q1.pdf