Invalda INVL

Earnings Release • Apr 8, 2025

Invalda INVL is the leading Baltic asset management group with an open approach, which grows and develops, and creates well-being for people through its activities.

Invalda INVL, founded in 1991, is a pioneer in private equity management in the Baltic States.

For 30 years Invalda INVL has been listed on Nasdaq Baltic, with its share price increasing more than 300 times.

WHO WE ARE

GROUP OVERVIEW. 31 DECEMBER 2024

€157m Earned for clients in 12 months of 2024

€1.6b +17%YoY AuM 31/12/2024

65investment professionals of whom 28 have significant experience

130 Employees in the group

EXECUTIVES*

*Our team is larger than what fits on a single slide! Explore www.invl.com & www.invlseimosbiuras.com to meet the rest of our professionals.

Alvydas Banys Indrė Mišeikytė Tomas Bubinas Darius Šulnis Raimondas Rajeckas

Vytautas Plunksnis Andrej Cyba Asta Jovaišienė Andrius Načajus Andrejs Martinovs

Board members of Invalda INVL, INVL Asset Management, INVL Family Office, CEO's of these companies and CFO. Part of them are members of the Business Development Committee of Invalda INVL.

INVALDA INVL 31/12/2024

THE MAIN GEOGRAPHY OF OUR BUSINESSES

STRATEGIC BUSINESS

Key metrics of portfolio companies of private equity funds

Revenue €854m

Normalised EBITDA €207m

Employees >12,500

INVALDA INVL GROUP

NET ASSET VALUE BREAKDOWN
€ thousand	31/12/2024	31/12/2023	Δ
Investments	242,567	237,446	5,121
Cash & cash equivalents	2,467	1,305	1,162
Other assets	367	3,098	-2,731
Total assets	245,401	241,849	3,552
Total liabilities	(23,360)	(63,819)	40,459
NET ASSET VALUE	222,041	178,030	44,011
NET ASSET VALUE PER SHARE	18.48	14.83	3.65

SHAREHOLDING STRUCTURE

MAIN ARTICLES OF PROFIT & LOSS STATEMENT
€ thousand	31/12/2024	31/12/2023	Δ
Revenue from strategic business	14,055	16,825	-2,770
Profit from strategic business (including net changes in fair value)	17,846	39,312	-21,466
Profit from other investments	29,675	11,010	18,665
Operating profit	48,109	50,639	-2,530
Net profit (Group & Company)	44,384	45,816	-1,432

FINANCIAL RATIOS
	2024	2023
Return on Equity (ROE), %	22.19	29.67
Debt – equity ratio	0.11	0.36
Earning per share (EPS), EUR	3.69	3.85
Price to Book (P/B)	1.02	0.80

INVESTMENTS' BREAKDOWN
Company or investment group	Votes (%) or investments included		Value, € million		Profit (loss) from investment, € million
	2024	2023	2024	2023	2024	2023
Investments into strategic business	Core companies of strategic business (100%)		6.6*	30.2*		39.4**
	General Partner investments		74.9	59.0	17.8
Šiaulių bankas	19.93%	18.45%	108.9	85.4	23.6	4.8
maib	7.45%	7.92%	22.4	22.2	4.8	6.1
Litagra	48.81%	48.81%	24.5	19.3	3.3	(2.6)

GROUP OVERVIEW. 31 DECEMBER 2024

NAV PER SHARE AND MARKET PRICE HISTORICAL DYNAMICS

	31/12/2024 31/12/20
NAV per share	EUR 18.48	EUR 14.
Market price per share	EUR 18.80	EUR 11.

* equity method

** EUR 29.8 million profit from the transfer of the retail business was included