Published: 2021-08-30 14:51:19 CEST
Attīstības finanšu institūcija Altum
Half Year financial report

JSC Development Finance Institution Altum Group unaudited interim condensed report for the six months period ended 30 June 2021

Inside information, 2021-08-30 14:51 CEST -- JSC Development Finance Institution Altum Group’s (hereinafter – Altum Group) outstanding portfolio (gross) is of 859 million euros as at 30 June 2021, comprised by 28,951 contracts, including:

  • guarantees portfolio of 380 million euros, the total number of contracts 21,336;
  • loan portfolio of 323 million euros, the total number of contracts 6,557;
  • investments in venture capital funds for the total amount of 84 million euros, the total number of projects financed by funds 286;
  • Land Fund of 72 million euros, the total number of transactions 772.

Since the beginning of the year, Altum Group’s financial instruments portfolio has grown by 6.9% (55 million EUR) in terms of volume and by 8.9% (2,373 projects) in terms of the number of projects.

According to the unaudited interim condensed reporting data, in 6 months of 2021 Altum Group has operated at 5.9 million euros profit.

JSC Development Finance Institution Altum is a Latvia state-owned company that ensures access of the enterprises and households to the financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy and enhancing mobilization of the private capital and financial resources. On 25 March 2019 Moody’s Investors Service (Moody’s) reconfirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was upgraded to investment grade rating baa3. The assigned Moody’s rating of Altum is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga. 

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.: +371 67774023, +371 26165699
         E-mail: Laura.Lapkovska@altum.lv


Altum_06_2021_ENG_NASDAQ.pdf