In the third quarter of 2021 Capitalia reported turnover of EUR 903 thousand and profit of EUR 172 thousand. The Company reported good financial results in the third quarter of the year as a result of active business financing interest. Additional revenue was contributed from the completion of a number of business sale advisory transactions.

In the third quarter of the year Capitalia issued new financing in the amount of EUR 3.86 million (EUR 4.39 million in the previous quarter). Among the financed businesses during this period where, for example, such companies as Volgers Eesti (demolition services), Saules Graža (solar panel installation) and Arcofire (fire safety equipment trade). Altogether, interest in the business financing has showed an increasing trend.

During the reporting quarter we have continued to develop alternative services, including advisory on the business sale and capital raising. In this quarter we have successfully helped to find a buyer for a nonbank financial institution in Latvia, as well as are continuing work on a number of other business disposal transactions. Also, we have closed our first alternative investment fund that would co-invest venture capital along with other leading regional funds.

We believe that over the fourth quarter of 2021 the financing activity will remain strong as we are planning to close a number of already initiated financing deals. In addition to growing the financing portfolio we will continue working on developing our advisory services to consolidate our position as trusted advisors both to businesses and investors.  We also expect that our venture capital fund will conduct its first 2-3 transactions.