In the first quarter of 2024, Capitalia reported a turnover of EUR 353 thousand and a profit of EUR 57 thousand. The operating revenue remained stable in the last reporting quarter and solid profit growth was achieved. We expect the revenue to remain stable or slightly decrease due to changes in investing in crowdfunded loans on our platform. Since the reception of the ECSP licence Capitalia SE as a platform operator cannot invest in loans and our holding company continues this activity. January and February activity was strong while March was slower. During the first quarter of 2024, we managed to issued funding amount reached EUR 5.9 million.
On key events
In the first quarter of 2024, we managed to issue a funding amount of EUR 5.9 million (EUR 4.5 million in the last quarter of 2023). Among the financed businesses during this period were, for example, such companies as Kalna 22A, SIA (retail trade), SFM Latvia, SIA (metal products manufacturing), Adamlights, AS (lighting solutions manufacturing).
In alternative fund management, we have made 3 new investments from our cost-efficient Baltic bond fund and acquired bonds of Orkela (real estate development), Mapon (fleet management and asset tracking SaaS), and SBA Furniture Group (furniture manufacturing). Our venture capital fund investment period has ended, and no realizations made in the last quarter.
On plans for the next quarter
The second quarter of the new year started with strong business financing activity and we expect it to continue this way. We continue implementing final changes on our platform to ensure compliance with the European Crowdfunding Service Provider requirements. We continue building up our sales team for stronger outreach both to potential borrowers as well as to new investors.
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