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Invalda INVL — Fund Information / Factsheet 2019
Aug 30, 2019
2247_fs_2019-08-30_1097686c-fe12-4a13-8457-4950b52422cb.pdf
Fund Information / Factsheet
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INVALDA INVL 2019 H1 RESULTS' FACTSHEET
Invalda INVL is an asset management group whose companies have been entrusted with the management of assets of over EUR 900 million by more than 200 thousand clients.
Companies in the Invalda INVL group manage pension and mutual funds, alternative investments (private equity, private debt and other financial instruments), 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 1.4 bln.
Listed on the stock exchange since 1995.
Changes in Invalda INVL share price and OMX Vilnius index over 10 years
Shareholders of Invalda INVL
Invalda INVL EUR 0.4837 EUR 4.70 EUR 5.50 1037.15 .. 17.02 ..
| Group's | Company's | ||||
|---|---|---|---|---|---|
| 6 months | 6 months | 6 months | 6 months | ||
| EUR thousand | 2018* | 2019 | 2018* | 2019 | |
| Non-current assets | 52,580 | 67,248 | 56,150 | 66,838 | |
| Current assets | 15,787 | 10,623 | 11,422 | 7,618 | |
| Equity | 65,236 | 72,960 | 65,236 | 72,960 | |
| Non-current liabilities | 1,539 | 2,544 | 1,439 | 1,050 | |
| Current liabilities | 1,592 | 2,367 | 897 | 446 | |
| Result before taxes | 223 | 7,458 | 221 | 7,417 | |
| Net result | 124 | 7,181 | 124 | 7,181 |
Calculation of the net asset value of Invalda INVL
| EUR thousand | Evaluation criteria | 30.06.2018* | 30.06.2019 | |
|---|---|---|---|---|
| Investment into asset | Equity method | 9,111 | 10,634 | |
| management | ||||
| Investments into INVL Baltic | Fair value of net | |||
| Sea Growth Fund (commitment | assets | - | 3,263 | |
| to invest is excluded) | ||||
| Investments into INVL Baltic | Market price | 9,761 | 10,402 | |
| Real Estate | ||||
| Investments into Moldova | Comparative method | - | 3,709 | |
| Agroindbank | of multipliers | |||
| Investments into INVL | Market price | 2,712 | 3,010 | |
| Technology | ||||
| Subsidiary cash and investment | Fair value of net | 9,209 | 5,562 | |
| into investment fund | assets | |||
| Investments into Litagra | Comparative method | |||
| (including loans granted) | of multipliers | 10,168 | 15,146 | |
| Investments into Šiauliai Bank |
Market price | 18,597 | 14,992 | |
| Investments into Inservis | Comparative method | |||
| (including loans granted) | of multipliers | 2,251 | 4,343 | |
| Other listed shares | Market price | - | - | |
| Investments into other | 651 | |||
| subsidiary companies (including | Fair value of net | 865 | ||
| loans granted) | assets | |||
| Other loans, other assets | Book value | 1,355 | 1,158 | |
| Cash and cash equivalents | Book value | 3,543 | 1,586 | |
| Total assets | Book value | 67,572 | 74,456 | |
| Liabilities | Book value | 2,336 | 1,496 | |
| Net asset value | Book value | 65,236 | 72,960 | |
| Net asset value per share | Book value | 5.64 | 6.28 |
*The figures have been recalculated taking into account the impact of IFRS 15 on the final figures in the annual audited financial accounts for 2018
More information www.invaldainvl.com
INVALDA INVL 2019 H1 RESULTS' FACTSHEET
| ASSET MANAGEMENT ASSET ASSET FMĮ INVL FARMLAND MANAGEMENT MANAGEMENT FINASTA MANAGEMENT |
||||||||
|---|---|---|---|---|---|---|---|---|
| EUR million | 2018 | 30.06.2019 | ||||||
| (if not stated otherwise) | Lithuania | Latvia | Total | Lithuania | Latvia | Total | ||
| Number of clients, thousand | 150.4 | 51.9 | 202.3 | 161.2 | 51.9 | 213.1 | ||
| Amount earned to clients | (21.9) | 64.7 | ||||||
| Asset under management* | 600.3 | 75.1 | 675.4 | 839.3 | 86.2 | 925.5 | ||
| 2nd pillar pension funds | 353.3 | 69.3 | 422.6 | 448.7 | 81.2 | 529.9 | ||
| 3rd pillar pension funds | 23.9 | 1.2 | 25.1 | 30.5 | 1.3 | 31.8 | ||
| Investment funds | 66.3 | - | 66.3 | 58.5 | - | 58.5 | ||
| Portfolios | 52.0 | - | 52.0 | 74.0 | - | 74.0 | ||
| Alternative assets | 104.8 | 4.6 | 109.4 | 227.6 | 3.7 | 231.3 | ||
| Revenues (January – June) |
3.17 | 0.26 | 3.43 | 4.46 | 0.23 | 4.69 | ||
| Profit before tax (January – |
* eliminated investments into own products, for which management fee is not charged
** according to accounting data of Invalda INVL. The figures for I half of 2018 have been recalculated considering the impact of IFRS 15 on the final figures in the annual audited accounts for 2018
June)** (EUR thousand) (77) (1) (78) 601 (134) 467
OTHER MAJOR INVESTMENTS AS OF 30.06.2019
| Company | Activity | Directly owned share, % |
Value of the owned shares 30.06.19, 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. |
18.01% | 3.26 + 15.8 commit ment to invest |
(0.08) |
| www.invlbalticrealestate.com | Investments in commercial real estate company, acting as a closed-end investment company. |
32.42% | 10.40 | 0.64 |
| https://www.maib.md/ | The largest commercial bank in Moldova providing a full range of financial services |
7.9% | 3.71 | 0.13 |
| www.invltechnology.com | Investments in information technology company, acting as a closed-end investment company. |
14.37% | 3.01 | 0.49 |
| Other historical investments | ||||
| www.litagragroup.lt | Primary agricultural production company that concentrates on agriculture - the cultivation of grain, milk and feed production. |
45.53%* | 15.15 | 2.92 |
| www.sb.lt | Lithuanian commercial bank providing financial services for business and private clients. |
5.48% | 14.99 | 2.74 |
| www.inservis.lt | Facility management companies' group |
100% | 4.34 | 0.25 |
* In July 2019, the general meeting of shareholders of Litagra decided to reduce the company's authorized capital. After the reduction of the authorized capital Invalda INVL will hold 48.81%