Audited results of Invalda INVL Group for 2020
Invalda INVL, one of the Baltic region’s leading asset management groups, had equity of EUR 83.2 million at the end of 2020, or EUR 7.11 per share, an increase of nearly 6% compared to the end of 2019 (also considering the EUR 9.3 million of dividends paid out). Invalda INVL’s net profit last year was EUR 5.3 million.
Group companies’ assets under management of more than 240 thousand clients amounted to EUR 1.25 billion at the end of 2020 and increased nearly 20% during the year. Investment return earned for clients during the year totalled EUR 52.5 million.
Asset management business
The year 2020 was moderately good for those investing with Invalda INVL despite the fact that the global and regional economy entered a period of challenges and uncertainty. That period continues, making a significant impact on the business climate in general as well as on specific areas, challenging and driving changes.
“We have given, and will continue to give, great attention to ensuring that the investments and the business we manage are fully resilient to the potential negative impact of the processes that are underway. Our main priority, however, is to assess and take advantage of current circumstances, and adapt to ongoing changes, so that the investments of the people who have entrusted their money to us can continue to increase in value, and so that our business can grow, become stronger, and fully meet the needs of our evolving world,” said Darius Šulnis, the President of Invalda INVL.
The pension funds the group manages increased their portfolios. The INVL Baltic Sea Growth Fund, which is the largest private equity fund in the Baltic region, acquired two large companies. And the INVL Sustainable Timberland and Farmland Fund II was successfully launched, as did the INVL Partner Global Distressed Debt Fund I – the group’s first product investing in a distressed debt fund established by a world-class investment management firm. The INVL Baltic Real Estate fund completed two successful exits, showing once more that the company is able to create a significant long-term return for its investors from real estate activities.
Invalda INVL had revenue of EUR 12.36 million from the asset management business in 2020, with a profit of EUR 1.8 million. The value of Invalda INVL’s strategic asset management business, recognized in the financial statements under the equity method, was EUR 13.9 million at the end of 2020.
The factors that most impacted Invalda INVL’s results, as usual, were changes in the value of its own investment portfolio and income from that portfolio. The company earned EUR 4.1 million from the portfolio in 2020, while the value of its investments, accounted for at market value, amounted to EUR 70.4 million.
Darius Šulnis notes there were no major changes in the composition of Invalda INVL’s investment portfolio last year. Investments in the products that are offered to INVL clients were deliberately further increased in order to increase the alignment of the interests of the investors and the manager.
“We manage and invest the assets entrusted to us in a consistent and disciplined manner, on the basis of our investors’ needs and expectations. We’re developing new products, expanding our range of clients and, as always, have numerous plans and ideas for further growth and improvement. We believe we will be able to properly assess the processes and changes taking place in the markets and react to them proactively, preserving sustainability and prudently taking advantage of the opportunities that arise,” Invalda INVL’s president said.
The audited results of the company which have been published will be approved at the annual general meeting of its shareholders on 30 April this year.
The person authorized to provide additional information is:
Darius Sulnis, President of Invalda INVL