Unaudited interim financial statements for year 2022
In 2022 Capitalia reported turnover of EUR 1.25 million and profit of EUR 48 thousand. The operating results slightly improved in the last reporting quarter and a modest profit growth was achieved. While in October activity was still low it started picking up in November and in December we managed to issue a record monthly funding amount of EUR 2.7m.
On key events
In the last quarter of the year Capitalia issued new financing in the amount of EUR 5.6 million (EUR 3.5 million in the previous quarter). Among the financed businesses during this period were, for example, such companies as Cinīši Agro (agriculture), Fito-AL (agriculture) and Grind grupa (plastic waste trade).
In alternative fund management, we have completed venture capital investment in Giraffe360 (Latvia), in an investment round led by pan-European VC firm Founders Fund. We have made the first 3 investments from our new cost-efficient Baltic bond fund and acquired bonds of CleanR grupa (Latvia, waste management services), Delfingroup (Latvia, financial services), and Baltic Horizon (Estonia, real estate).
On plans for the next quarter
We believe that over the first quarter of 2023 the business financing activity will start slower and increase towards the middle of the quarter despite the ongoing economic concerns. We have identified several industries with high optimism regarding future outlook as well as can observe that companies have started to adjust to working in the current high inflation environment. Our financing is becoming more attractive as commercial banks are increasing their interest rates and we expect to see good projects for financing.
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