Attīstības finanšu institūcija Altum
Interim report (Q1 and Q3)
JSC Development Finance Institution Altum Group unaudited interim condensed report for the three months period ended 31 March 2019
Inside information, 2019-05-30 09:56 CEST --
JSC Development Finance Institution Altum Group’s (hereinafter – Altum Group) outstanding financial instruments portfolio (gross) is of 534 million euros as at 31 March 2019, comprised by 19,184 contracts, including:
• guarantees portfolio of 252 million euros, the total number of contracts 12,826;
• loan portfolio of 220 million euros, the total number of contracts 6,150;
• investments in venture capital funds for the total amount of 62 million euros, the total number of projects financed by funds – 208.
Since the beginning of the year, Altum Group’s financial instruments portfolio has grown by 4% (20.7 mln EUR) in terms of volume and by 5% (904 projects) in terms of the number of projects. Among financial instruments, the fastest growth is seen in the guarantees portfolio, which has grown by 6.6% (15.5 mln EUR) in terms of volume and by 8% in terms of the number of projects.
According to the unaudited interim condensed reporting data, in 3 months of 2019 Altum Group has operated at 2.089 million euros profit.
JSC Development Finance Institution Altum is a Latvia state-owned company that ensures access of the enterprises and households to the financial resources by means of support financial instruments - loans, guarantees, investments in venture capital funds - in the areas defined as important and to be supported by the state, thus developing the national economy and enhancing mobilization of the private capital and financial resources. On 25 March 2019 Moody’s Investors Service (Moody’s) reconfirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The baseline credit assessment (BCA) was upgraded to investment grade rating baa3. The assigned Moody’s rating of Altum is one of the highest credit ratings assigned to corporate entities in Latvia. On 24 October 2017 the bonds issued by Altum were listed on a regulated market – Baltic Bond List of Nasdaq Riga. ALTUM was the winner of Stock Exchange Event of the Year award in Nasdaq Baltic Awards 2019.
AS Attīstības finanšu institūcija Altum Investors Relationships Division
Tel.: +371 67774023, +371 26165699