In the third quarter of 2019 Capitalia reported turnover of EUR 956 thousand and profit of EUR 132 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 third quarter of the year was unexpectedly active and Capitalia financed businesses for the total amount of EUR 5.65 million (EUR 4.69 million in the previous quarter). Among the financed businesses during this period where, for example, such companies as Kleintech (IT development), Peruza (production of industrial equipment), PTC (wholesale of packaging equipment and materials) and Volas (roofing services). Furthermore, we have concluded a venture capital investment in a fast growing and ambitious Latvian venture working in education sector. We have also continued to provide loans with European Investment Fund’s guarantee instrument and since launch of the program in the beginning of this year 51 companies have received the financing with this subsidy. 

During the fourth quarter of the year we expect to focus on the growth of financing portfolio, especially expanding our presence in the Estonian market.