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IVL1L Invalda Invl AB News Story

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Asset manager Invalda INVL's Q1 net profit drops on lower equity investment values

Asset manager Invalda INVL's Q1 net profit drops on lower equity investment values


Overview

  • Lithuania asset manager's Q1 net profit dropped sharply due to lower equity investment values

  • Asset management and family office revenue rose 47% yr/yr in Q1

  • Client assets under management rose 9% yr/yr to EUR 2.1 bln at quarter end


Outlook

  • Company did not provide specific guidance for the current qtr or full yr


Result Drivers

  • EQUITY INVESTMENT LOSSES - Decrease in value of equity investment portfolio was the primary driver of lower Q1 profit

  • ARTEA BANK SHARE PRICE - Correction in Artea bank's share price had a negative impact of about EUR 3 mln on results

  • ASSET MANAGEMENT GROWTH - Asset management and family office services revenue rose 46.8% yr/yr, boosting strategic business profit


Company press release: ID:nGNE4ZVnZ5


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Net Income

EUR 0.12 mln


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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