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 |
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(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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