EVERGENT Investments Reports Record Financial Results for H1 2024

15 August 2024

EVERGENT Investments Reports Record Financial Results for H1 2024

The net result was 250 million lei as of June 30, 2024, 2.6 times higher than the budgeted level for the entire year of 2024.

On June 30, 2024, EVERGENT Investments, a company listed under the ticker EVER, reported a net result of 250 million lei, which is 2.6 times higher than the budgeted level for the entire year of 2024. This figure includes a net profit of 122.5 million lei and a net gain of 127.5 million lei from the sale of financial assets reflected in the retained earnings. The net result serves as the performance indicator for EVERGENT Investments, demonstrating the company's consistent ability to create value for its shareholders and exceed expectations for the entire year of 2024.

Outstanding Performances of EVERGENT Investments:

·       Total assets under management: 3.57 billion lei, marking a robust growth of 42.2% compared to June 30, 2023, setting a new record for the company.

·       Net asset value: 3.13 billion lei, up 39.4% from June 30, 2023, further strengthening the company’s financial position.

·       Net asset value per share (NAVPS): 3.45 lei per share, an increase of 41.3% compared to June 30, 2023, reflecting superior performance in asset management.

·       Dividends distributed in 2024: Totaling 81.7 million lei from the net profit of 2023, underscoring the company’s consistent return of value to its shareholders.

·       The value of dividends allocated for 2024 is 81.7 million lei from the net profit of 2023. This underscores the company's predictability to return value to its shareholders consistently.

·       Strategic investments in H1 2024: 213.34 million lei.

·       Sustainability focus: Over 55% of the portfolio is held in issuers that integrate ESG factors.

“The results achieved in the first half of 2024 are proof of the success of our investment strategy and our ability to identify opportunities beyond challenges. We are on a growth trend and continue to strengthen the company's financial position despite some market turbulence. We have reached a historic high of total assets under management, amounting to 3.57 billion lei, a significant increase of 42.2% compared to June 30, 2023, which meant exceeding the 700 million euro threshold. This semester, the level of investments exceeded 213 million lei, reflecting our ability to dynamically manage capital and return value to investors. We have a set of opportunities that we are exploring, and we are analyzing investment projects, taking into account the potential impact of adverse factors such as: inflation, interest rates and the electoral context,” said Mr. Claudiu Doroș, President and CEO of EVERGENT Investments.

The listed shares portfolio holds the main weight in the total value of assets, 70.3%, while the weight of unlisted shares is 8.1%. The main sectors in the portfolio structure remain the Financial-Banking sector with 43.9% and the Energy-Industrial sector with 23.4% of the total asset value. The listed shares portfolio is mainly composed by holdings in top companies within strategic sectors.

EVERGENT Investments has continued to develop the company to create value for investors and the Romanian community. In the second quarter, the company began distributing dividends totaling 81.7 million lei and launched one of the share buyback programs approved by shareholders on April 29, 2024. EVERGENT Investments stands out with the highest dividend yield (DY) in its sector, at 7.09% as of June 30, 2024.