Invalda INVL

Fund Information / Factsheet • Aug 31, 2020

INVALDA INVL: 2020 H1 RESULTS' FACTSHEET

Invalda INVL is an asset management group whose companies have been entrusted with the management of assets of over EUR 1 bln by more than 200 thousand clients.

Companies in the Invalda INVL group manage pension and mutual funds, alternative investments (private equity, private debt and real estate funds), individual portfolios and other financial instruments.

Founded in 1991 by a group of academics to accumulate funds and carry out investment activities. Over its history Invalda INVL has executed deals worth more than EUR 1.5 bln.

Listed on the stock exchange since 1995.

Shareholders of Invalda INVL

	Group's		Company's
EUR thousand	2019 H1	2020 H1	2019 H1	2020 H1
Non-current assets	67,248	70,309	66,838	72,867
Current assets	10,623	9,750	7,618	2,407
Equity	72,960	73,730	72,960	73,549
Non-current liabilities	2,544	3,143	1,050	991
Current liabilities	2,367	3,186	446	734
Result before taxes	7,458	(4,683)	7,417	(4,719)
Net result	7,181	(4,170)	7,181	(4,195)
Net result attributable to holders of the parent Company	7,181	(4,195)	-	-

Calculation of the net asset value of Invalda INVL

EUR thousand	Evaluation criteria	30.06.2019	30.06.2020
Investment into asset management	Equity method	10,634	12,559
Investments into INVL Baltic Sea Growth Fund (commitment to invest is excluded)	Fair value of net assets	3,263	3,702
Investments into INVL Baltic Real Estate	Market price	10,402	8,104*
Investments into Moldova Agroindbank	Comparative method of multipliers	3,709	6,449
Investments into INVL Technology	Market price	3,010	3,513
Investment into investment fund	Fair value of net assets	5,562*	4,294*
Investments into Litagra (including loans granted)	Comparative method of multipliers	15,146	14,992
Investments into Šiauliai Bank	Market price	14,992	13,443
Investments into Inservis (including loans granted)	Comparative method of multipliers	4,343	5,222
Investments into other subsidiary companies (including loans granted)	Fair value of net assets	651	479
Other assets, other investments	Book value	1,158	2,078
Cash and cash equivalents	Book value	1,586	439
Total assets	Book value	74,456	75,274
Liabilities	Book value	1,496	1,725
Net asset value	Book value	72,960	73,549
Net asset value per share	Book value	6.28	6.29

* The value of investments in non-consolidated companies is included

For 2019, Invalda INVL allocated a dividend of EUR 0.80 per share (total EUR 9.288 million).

Changes in Invalda INVL share price and OMX Vilnius index over 10 years

INVALDA INVL: 2020 H1 RESULTS' FACTSHEET

				OTHER MAJOR INVESTMENTS
							Company	Activity	Directly owned share, %	Value of the owned shares 30.06, mln. EUR	Profit (loss) from investment mln. EUR
							General partner investments
							INVL Baltic Sea Growth Fund bsgf.invl.com	The largest private equity investment fund in the Baltic countries. The fund is intended for professional investors.	12.22	3.70 + 16.09 commit ment to invest	(1.31)
							www.invlbalticrealestate.com	Investments in commercial real estate company, acting as a closed-end investment company.	29.98	7.49	1.90
ASSET MANAGEMENT ASSET MANAGEMENT	ASSET MANAGEMENT		FMĮ INVL FINASTA	FARMLAND MANAGEMENT			https://www.maib.md/	The largest commercial bank in Moldova providing a full range of financial services	7.9	6.45	(1.57)
EUR million (if not stated otherwise)	Lithuania	30.06.2019 Latvia	Total	Lithuania	30.06.2020 Latvia	Total	www.invltechnology.com	Investments in information technology company, acting as a closed-end	14.87	3.51	0.32
Number of clients, units	161.2	51.9	213.1	181.5	54.8	236.3		investment company.
Amount earned (loss incurred) for clients			64.7			(42.98)	Other historical investments	Primary agricultural
Asset under management*	839.3	86.2	925.5	936.3	118.4	1,054.7		production company that concentrates on
2nd pillar pension funds	448.7	81.2	529.9	510.8	117.0	627.8		agriculture - the cultivation	48.81	14.99	(1.78)
3rd pillar pension funds	30.5	1.3	31.8	41.4	1.4	42.8		of grain, milk and feed production.
Investment funds	58.5	-	58.5	52.6	-	52.6	www.litagragroup.lt
Portfolios	74.0	-	74.0	66.2	-	66.2		Lithuanian commercial bank providing financial
Alternative assets	227.6	3.7	231.3	265.3	-	265.3		services for business and private clients.	5.48	13.44	(3.22)
Revenues	4.46	0.23	4.69	6.14	0.32	6.46	www.sb.lt	Facility management
Profit (loss) before tax, EUR thousand**	601	(134)	467	806	(321)	485	www.inservis.lt	companies' group	100	5.22	1.04

* Eliminated investments into own products, for which management fee is not charged.

** According to accounting data of Invalda INVL.