EVERGENT Investments, an investment company listed under the ticker EVER, which differentiates itself through private equity projects, reports in the first half that it exceeded the forecasted net result for the whole year 2022.
The net result in the first half of 65.2 million lei exceeds the forecasted result for the whole year 2022.
The total assets under management (AUM) registered an increase of 1.7% compared to H1 2021, up to 2,450 million lei.
117 million lei invested in the first half.
62.2 million lei dividends were assigned on the payment date of June 10, 2022.
The total area of the “Blueberry Farms” project exceeded 100 ha.
“Atria Urban Resort” project obtains the building permit for Phase III, which consists of 338 “eco-friendly” apartments.
Over 50% of the EVERGENT Investments portfolio is aligned with ESG principles.
The net result registered on June 30, 2022 is comprised of 54.2 million lei net profit and 11 million lei net gain from the sale of assets reflected in the retained earnings. The total value of assets (AUM) is 2,450 million lei, up 1.7% compared to H1 2021, and the net asset value is 2,278 million lei, up 2.1% compared to the same period of the last year.
“The net result, of 65.2 million lei, for the first half exceeded the forecasted target for the whole year 2022, confirming the resilience of the company in the context of the overlapping of economic imbalances and geopolitical tensions. Although these factors led to an increase in risk aversion, we explored the opportunities that arose and capitalized on them by investing over 100 million lei in this period. Even if the perspective of the recession is increasingly pronounced, we remain confident in the agility of the EVERGENT Investments team to operate prudently in this tumultuous environment and we expect to close 2022 with positive results,” said Claudiu Doroș, President of the Board and CEO of EVERGENT Investments.
The investments in the Private Equity Portfolio continue
Private equity projects differentiate the company from other capital market entities and bring an attractive risk/return ratio, with significant long-term profit. The AIF legal framework allows the allocation of up to 40% of unlisted assets, and EVERGENT Investments has set a first “threshold” of 20-25% of assets for allocation in these projects.
- Agrointens, a company from the EVERGENT Group, increased the area for blueberry cultivation through the recent acquisition of a 23 ha plot in Ratesti, Arges county, reaching a total area of 109 ha after planting.
- Proiectul „Atria Urban Resort” a primit aprobarea de construire a Fazei a III a. 338 de apartamente vor fi construite în acord cu tendințele globale privind sustenabilitatea și reducerea amprentei de carbon. Clădirile vor fi dotate cu panouri solare pentru prepararea apei calde menajere și cu recuperatoare de căldură.
- “Atria Urban Resort” project received the building permit for Phase III. 338 apartments will be built in accordance with the global trends regarding sustainability and carbon footprint reduction. The buildings will be equipped with solar panels for domestic hot water and with heat recuperators.
On June 10, the company began to distribute dividends to its shareholders in a total amount of 62.2 million lei. Through the optimal mix between the predictable dividend policy and buyback programs, the company returns value to its shareholders. This aspect is supported by the dividend distribution rates of recent years, which prove the stability of the company’s cash flows, implicitly a strong financial position on the market.
About EVERGENT Investments
With over 30 years of experience in the capital market, EVERGENT Investments is an Investment Fund (RIAIF) and a company listed on the Bucharest Stock Exchange (under the ticker EVER), ranked among the top investment funds from Romania. The listed shares portfolio has the main weight, of 72.5%, and the unlisted shares have 9.6% of the total assets under management. The financial-banking sector with 41.6% and the energy-industrial sector with 26.94% of the total assets are maintained as the main sectors in the portfolio structure as of June 30, 2022. The investment of over 38% of EVERGENT’s total assets in TLV and BRD shares reflects a portfolio structure aligned with ESG principles.
Through its predictable dividend policy and buyback programs, the company offers to the shareholders both short-term profits and the prospect of increasing the value of the long-term assets. Over the past 13 years, the company has distributed dividends in excess of 738 million lei, and the value of the assets under management rose to 2.45 billion lei in mid-2022.
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