Capitalia unaudited interim financial statements for 2018
In the year of 2018 Capitalia reported turnover of EUR 716 thousand and profit of EUR 37 thousand. The turnover result is difficult to compare to previous financial year as due to reorganization part of the turnover and profit has been reported in the closing reports of Estonian and Lithuanian daughter companies. In accordance to the strategy, the Company has continued to decrease its overall assets that were EUR 2,205 thousand at the end of the reporting period, while total loans under management increased and stood at EUR 5,897 thousand.
On key events
During the year of 2018 we continued our focus on attraction of new clients and cooperation partners in all of the Baltic countries. We refinanced our public bond issue that as listed in NASDAQ Baltic with a new smaller closed bond placement. During the year we concluded reorganization of the Company as a result of which operations in Lithuania and Estonia are continued through branches rather than daughter companies. This will allow for easier cross-border administration of the Company. Furthermore, we continued with increased focus on financing medium sized companies though making loan syndicates with other investors. As a result of such strategy we have been able to significantly decrease amount of our liabilities that will ensure more stable and safe operations.
On plans for the next year
In 2019 Capitalia plans to continue promotion of the existing financing products, including venture capital investments, in the Baltics. In the first quarter of 2019 the Company has concluded landmark guarantee agreement with European Investment Fund for the total value of EUR 10 million that will allow us to more actively compete in the small business loan (up to EUR 25,000) issuance.
Full financial report is available in the Investor relations web page.