Fund Information / Factsheet • Nov 30, 2022
Fund Information / Factsheet
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Changes in Invalda INVL share price and OMX Vilnius index over 10 years
Shareholders of Invalda INVL
Investment management and life insurance is our core business. The Group's companies, operating across Lithuania, Latvia and Estonia, service over 300,000 private and institutional clients from both the Baltic region and abroad. These clients have entrusted the Invalda INVL Group with the management of over than EUR 1.75 billion covering a variety of asset classes including pension, mutual funds and life insurance commitments as well as individual portfolios, private equity and other alternative investment activities.
Founded in 1991 by a group of academics to create value and contribute to the country's economy. Over its history Invalda INVL has executed deals worth more than EUR 1.8 bln.
Listed on the stock exchange since 1995.
| Index/Shares | 01.01.2012 | 01.01.2022 | 30.09.2022 | Change (%) since Jan. 2012 |
Change (%) in 9 months 2022 |
|---|---|---|---|---|---|
| OMX Vilnius | 298.78 | 966.13 | 894.83 | 199.49 | -7.38 |
| Invalda INVL | EUR 1.943 | EUR 17.00 | EUR 11.00 | 466.13 | -35.29 |
| Company's | Group's | |||
|---|---|---|---|---|
| EUR thousand | 9M 2021 | 9M 2022 | 9M 2021 | 9M 2022* |
| Non-current assets | 98,236 | 98,912 | 91,514 | 97,566 |
| Current assets | 10,930 | 3,890 | 19,809 | 164,264 |
| Equity | 103,137 | 97,906 | 103,287 | 98,041 |
| Non-current liabilities | 2,620 | 1,099 | 4,851 | 13,018 |
| Current liabilities | 3,409 | 3,797 | 3,185 | 150,771 |
| Result before taxes | 20,601 | (18,053) | 20,931 | (18,489) |
| Net result | 19,418 | (16,195) | 19,446 | (16,149) |
| Net result attributable to holders of the parent Company |
- | - | 19,418 | (16,195) |
*The acquired life insurance business is consolidated in the Group's balance sheet as at 30.09.2022. Therefore, the numbers of the assets and liabilities have increased. The final decision whether to consolidate or not the life insurance business will be taken at the time of issue of annual reports for 2022 upon receipt of the auditor's confirmation regarding the compliance of such decision with the requirements of the accounting standards. The accounting of business combination has not been completed, therefore, its impact is not reflected in the Group's numbers for 9 months of 2022.
| EUR thousand | Evaluation criteria | 30.09.2021 | 30.09.2022 |
|---|---|---|---|
| Investment into investment management and life insurance business |
Equity method | 18,733 | 63,715 |
| Other investments | Fair value | 80,819 | 35,121 |
| Receivables | Book value | 5,154 | 3,363 |
| Other assets | Book value | 114 | 280 |
| Cash and cash equivalents | Book value | 4,346 | 323 |
| Total assets | Book value | 109,166 | 102,802 |
| Liabilities | Book value | (6,029) | (4,896) |
| Net asset value | Book value | 103,137 | 97,906 |
| Net asset value per share | Book value | 8.78 | 8.28 |
| ASSET FARMLAND FINACIAL LIFE MANAGEMENT MANAGEMENT ADVISORS |
||||||
|---|---|---|---|---|---|---|
| INVESTMENT MANAGEMENT AND LIFE INSURANCE BUSINESS | ||||||
| Pension Funds | Investment Funds | Life Insurance | Alternative investments |
Family Office | ||
| II pillar pension funds |
Stock Funds | Life insurance without accumulation |
Private Equity | |||
| III pillar pension funds |
Bond Funds | Unit-linked insurance |
Real Assets and Infrastructure |
|||
| Portfolio Management |
Private Debt | |||||
| Feeder Funds | ||||||
| >300,000 | €1.75 billion |
>30 | ||||
| Private and institutional clients (regional and international) |
Total AuM | Investment professionals >250 employees |
| EUR million (if not stated otherwise |
30.09.2021 | 30.09.2022 | Change, % |
|---|---|---|---|
| Number of clients, thousands |
257.7 | 300.4 | 16.6 |
| Amount earned (loss incurred) for clients |
131.7 | (163.1) | N/A |
| Assets under management |
1,499.7 | 1,753.9 | 17.0 |
| Investment life insurance | - | 134.4 | N/A |
| 2nd pillar pension funds | 926.7 | 973.8 | 5.1 |
| 3rd pillar pension funds | 72.9 | 83.5 | 14.5 |
| Investment funds | 54.3 | 51.4 | -5.3 |
| Portfolios | 88.4 | 110.5 | 25.0 |
| Alternative assets | 357.4 | 400.3 | 12.0 |
| Revenues investment management and life insurance business | 10.44 | 13.09 | 25.4 |
| Investment group | Investments included | Consolidated value of owned investments |
Consolidated profit (loss) from the investment before the impact of income tax |
|---|---|---|---|
| Investment managementand life insurance business (operational part)* |
Includes value and result from the management of money entrusted by clients, eliminating own investments of the asset management and insurance business |
8.8 | (1.86) |
| Investments in collective investment undertakings managed by INVL |
INVL Baltic Sea Growth Fund, INVL Sustainable Timberland and Farmland Fund II, INVL Renewable Energy Fund I, INVL Baltic Real Estate, INVL Technology, other products of INVL |
30.2 | (0.97) |
| Investments into banking sector | AB Šiaulių bankas**, Moldova-Agroindbank (maib) |
34.6 | (18.10) |
| Historical investments | UAB Litagra, AB Vernitas, Inservis group companies (sold in May 2022), UAB Kelio ženklai (loan) |
22.3 | 3.57 |
* The accounting of business combination has not been completed, therefore, its impact is not reflected in the Group's numbers for 9 months of 2022. The acquired life insurance business is consolidated. The final decision whether to consolidate or not the life insurance business will be taken at the time of issue of annual reports for 2022 upon receipt of the auditor's confirmation regarding the compliance of such decision with the requirements of the accounting standards.
** The positive or negative value of the forward (future acquisition from the EBRD) is included
On 22 November 2022 Šiaulių Bankas and Invalda INVL signed an agreement on the merger of part of the retail businesses.
The equity value of the transaction is EUR 40.2 million.
Once the deal is completed, Invalda INVL will obtain 62,270,383 units of Šiaulių Bankas shares, which will constitute 9.39 % of the authorized share capital of Šiaulių Bankas.
The INVL group's 237,500 retail clients and EUR 1.04 billion of retail-client assets under management (as of 30.09.2022) are to be incorporated into the combined retail business. This will be along with about 190 fund management and life insurance professionals.
The transaction is expected to be completed within one year.
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