One of the leading asset management groups in Baltic region Invalda INVL equity at the end of first half 2015 amounted to EUR 47.8 million, or EUR 4.08 per share. During the first half equity per share grew by 8.8 per cent.
Net profit in first half of 2015 reached EUR 4.1 million, or 23.8 per cent less than in the same period of 2014 (EUR 5.4 million).
Asset management business
At the end of June 2015 asset management companies owned by Invalda INVL – INVL Asset Management, MP Pension Funds Baltic in Lithuanian and Finasta Asset Management in Latvia – managed assets amounting to EUR 305 million, or 10.8 per cent more than at the end of 2014 (EUR 275.3 million).
“In the nearest future we will finish merger of Lithuanian asset management companies INVL Asset Management and MP Pension Funds Baltic. Latvian company Finasta Asset Management name will be changed to INVL Asset Management to better reflect that company belongs to Invalda INVL group. Our main goal – to offer saving and investing solutions which best fit clients needs in the markets in which we are active”, – said Darius Sulnis, President of Invalda INVL.
Revenues from asset management business in first half amounted to EUR 1.8 million.
Other assets
Investments in associated and related companies
At the end of June 2015 investment into INVL Technology shares amounted to EUR 933 thousand. Invalda INVL participated in new share issue of INVL Technology, which was placed in July. After deals, which were finished in July, Invalda INVL invested in INVL Technology shares additional EUR 2.3 million and currently owns 15.7 per cent of INVL Technology shares.
“We believe that INVL Technology will successfully employ money, raised during share issue and expand information technologies companies portfolio”, – said D. Sulnis.
Investments into INVL Baltic Real Estate shares amounted to EUR 1.688 million, and loans to INVL Baltic Real Estate group amounted to EUR 5.4 million.
Agriculture
Stake in Baltic agricultural group Litagra (36.9 per cent) was valued EUR 16.2 million at the end of first half of 2015 – 9 per per cent more than at the end of 2014.
According to D. Sulnis, implemented and planned reforms in Litagra should improve companies competitive position and financial results and increase value of the company.
Banking activity
On 11 May 2015 Invalda INVL signed the agreements regarding the sale of bank Finasta and brokerage company Finasta shares to Siauliu bankas. To close the deal Siauliu bankas will issue new shares, which will be acquired by Invalda INVL.
100 per cent of Finasta bank and financial brokerage company Finasta was valued at EUR 6.19 million. After registering new share issue, Invalda INVL will own 6.79 per cent of Siauliu bankas shares.
“We believe that good results of Siauliu bankas and successful activity will increase value of Siauliu bankas shares further”, – said D. Sulnis.
In the first half from change in the value of Finasta Invalda INVL earned EUR 1.8 million.
Facilities management
Invalda INVL manages 100 percent of Facility management group Inservis (together with companies Priemiestis, Jurita, Naujosios Vilnios Turgaviete and Advima). At the end of 2015 facility management companies were valued EUR 4.1 million, during first half dividend of EUR 237 thousand from these companies were announced.
“Successfull organic growth and improvement in internal processes leads to positive changes in Inservis results”, – said D. Sulnis.
Other investments
At the end of first half, Invalda INVL had EUR 0.7 million investments in shares traded on stock exchange, also EUR 2.4 million other investments. All liabilities of Invalda INVL at the end of June amounted to EUR 0.8 million.
Invalda INVL shares are listed on NASDAQ Vilnius stock exchange.
INVL and Šiaulių bankas merged their retail services as of 1 December 2023.
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INVL and Šiaulių bankas merged their retail services as of 1 December 2023.