In the fourth quarter of 2019 Capitalia reported anual turnover of EUR 1.25 million and profit before tax of EUR 124 thousand. The results are good reflection of the result of our strategy shift that was implemented over the course of the last year and as a result of which the Company is concentrating on financing of larger businesses through co-financing with other investors.

The last quarter of the year was unexpectedly quiet with total issued financing of EUR 4.09 million (EUR 5.65 million in the previous quarter). Among the financed businesses during this period where, for example, such companies as Eskaro (paint production), Švaros Broliai (cleaning and carwash services), Pure Chocolate (chocolate product production) and Countin IT (stock-taking services). Capitalia has also concluded a venture capital investment in an education technology company Edurio that provides survey solutions for schools in Latvia and United Kingdom. Lastly, in December of the last year Capitalia became the first alternative financing provider that has received European code of good conduct compliance for its lending activities.

During the first quarter of 2020 we expect significant interest from the companies in alternative financing products and are hence aiming for active growth period of our portfolio under management. We also will continue to seek interesting venture capital investment opportunities.

Full interim annual report is available in Capitalia webpage in For Investors section (requires log-in).