In the first half of 2024, Capitalia reported a turnover of EUR 764 thousand and a profit of EUR 27 thousand. This is the first time we are reporting consolidated figures. Operating revenue slightly grew and a positive net profit was achieved. We expect the consolidated revenue to continue growing together with the consolidated portfolio under management. Financing activity remained stable in the second quarter of 2024. During the first half of 2024, we managed to issue a funding amount of EUR 10.60 million (EUR 13.03 million during the first half of 2023). The lower issued amount and higher portfolio under management are explained by a discontinuation of a few larger factoring type of contracts and the average term of issued loans getting longer.
On key events
In the second quarter of 2024, we managed to issue a funding amount of EUR 4.7 million (EUR 5.9 million in the first quarter of 2024). Among the financed businesses during this period were, for example, such companies as Digital mind AS (information technologies), Genecode AS (scientific research), and MIG Baltic SIA (wholesale & retail trade).
In alternative fund management, we have made 1 new investment from our cost-efficient Baltic bond fund and acquired bonds of Given Jewellery, AS (Latvian jewelry retail company). Our venture capital fund investment period has ended, and no realizations made in the last quarter.
On plans for the next quarter
The third quarter, despite the slower season of summer, continues with a stable business financing activity and we expect no changes here. We continue implementing final changes on our platform to ensure compliance with the European Crowdfunding Service Provider requirements, as well as executing other performance updates for the benefit of the financing clients and investors.
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