At the end of September, the equity of Invalda INVL amounted to EUR 222 million, or EUR 18.41 per share. Compared to the same period last year, these figures were up by 17.1% and 16.7%, respectively, including the dividends paid.
For the nine months of 2025, Invalda INVL earned an unaudited net profit of EUR 13.9 million, compared to EUR 25.8 million in net profit in the same period last year. The decline in the result for the reporting period was due to lower returns from investments during the first nine months of this year.
"We continue to actively raise capital, invest, manage assets, and return earnings to our investors. We adhere to our chosen strategy while adapting to the uncertainty that has become the new reality," says Darius Šulnis, the CEO of Invalda INVL.
Capital raised from investors and the increasing value of investments raised the total value of client assets under management to EUR 2.08 billion - up 25.5% over the year and 22.8% since the start of 2025. Gains of EUR 18.2 million were earned for the group's clients in the nine months of this year.
Strategic business: capital for new acquisitions
Invalda INVL's revenue from the management of assets entrusted by clients totalled EUR 13.7 million for the three quarters of 2025, an increase of 51.6% compared to January-September of 2024.
The result of the group's strategic business, including the company's investments in the products the group manages, was a profit of EUR 2.2 million, compared to EUR 13.9 million in profit in the same period last year.
A key event after the end of the third quarter was the successful raise of EUR 410 million for the INVL Private Equity Fund II. It has become not only the largest private equity fund in the Baltics but also one of the largest in Central and Eastern Europe. The fund has already achieved its first milestone with two major acquisitions. In November, it completed the purchase of Eesti Keskkonnateenused, the largest waste management group in Estonia. Previously, in partnership with the International Finance Corporation (IFC) and Accession Capital Partners (ACP), it had signed an agreement to acquire POLMED, one of Poland's leading private healthcare services groups.
Equity investments: strongest contributions from banks and Litagra
From other equity investments, aside from the asset management business, Invalda INVL earned EUR 13 million in the first nine months of this year.
The nine-month performance of the equity investment portfolio was driven mainly by investments in the banking sector and the agricultural business. The positive impact from Artea bank amounted to EUR 5 million. The lower results of Artea bank - and thus the impact on the value of this investment - were influenced by the interest rate reduction cycle in the euro area and ongoing bank's transformation. Maib, the largest bank in Moldova, posted record profits and contributed EUR 4 million to the result. Operating effectively in a favourable market, the agricultural group Litagra added EUR 4 million to Invalda INVL's result.
Additional information is provided by
Darius Sulnis, CEO of Invalda INVL
Darius.Sulnis@invl.com
