Unaudited interim financial statements for Q1, 2021

In the first quarter of 2021 Capitalia reported turnover of EUR 264 thousand and profit of EUR 26 thousand. The small drop of turnover reflects the smaller volume of deals that we have financed. We were able to report profit for the period as a result of low sales costs while keeping the same revenue amount. Our liquidity and balance sheet position has remained strong with significant available cash reserve.

In the first quarter of the year Capitalia issued new financing in the amount of EUR 4.69 million (EUR 4.38 million in the previous quarter). Among the financed businesses during this period where, for example, such companies as MIG Baltic (distribution of construction supplies), Ginmika (manufacturing of sewage products), Nākotne (manufacturing of metal elements) and Pure Chocolate (production of chocolate products). Altogether, interest in the business financing has remained subdued. Companies continue to be cautious in attraction of new debt financing as they await how the impact of the pandemic will weight on the regional economies. 

During the reporting quarter we have continued to develop alternative services and part of such strategy are managing four business sale and acquisition transactions. Also, we are finalizing work to acquire brokerage license. We hope to receive the license in the second quarter of 2021. We have established another daughter company SIA Capitalia Fund Management with the base capital of EUR 25,000 that aims to manage a number of alternative investment funds. We have prepared prospectuses for two planned funds and have started the fundraising process. 

We believe that over the second quarter of 2021 the financing activity will pick up. In addition to growing the financing portfolio we will start working on re-financing our maturing bond emission as well as fund raising of the planned investment funds.  
Published by at. 14:13