The company continued to strengthen its financial position, generating a net result of RON47.7 million, consisting of a net profit of RON26.2 million and a net gain of RON21.5 million from the sale of financial assets at fair value through other comprehensive income (FVTOCI), reflected in the reported result.
As of June 30, 2023, the total value of assets of RON2.511 billion has increased by 2.5% compared to June 30, 2022 and the net asset value per share of RON2.4424 has increased by 2.2% compared to June 30, 2022.
“EVERGENT Investments recorded a good financial performance in the second quarter of 2023, by exceeding the threshold of half a billion euros of total assets under management, i.e. an increase of 2.5% compared to June 30, 2022. We continued to strengthen the company’s position and generated a net result of 47.7 million lei, in the context of heightened volatility, the European and global macro-financial climate and regional geo-political tensions. We acted quickly and focused capital in sectors with development potential”, said Claudiu Doros, CEO and Chairman of the Board of Directors of Evergent Investments.
According to Doros,”the pace and speed of change is unexpectedly dynamic and it is not surprising that there are significant disruptions in some areas, offering new opportunities. We have high standards for new investments, but are expanding options to optimise portfolio performance and create long-term value. Thus, investments in the first half of 2023 reached 186 million lei, while we distributed dividends of more than 82 million lei from the net result of 2022″.
Relative to the total value of assets under management, 75% represents the listed shares portfolio while 10.8% is the unlisted shares portfolio. The main sectors in the portfolio structure remain the financial-banking sector with 41.3% and energy-industrial with 22% of total assets value.
“We allocate resources following a fundamental analysis process that identifies resilient business models with substantial long-term returns. Consequently, we implement a customized strategy for each individual project. Our objective is to create stronger companies and long-term sustainable value.
Running and completed projects:
✓ “Blueberry Farm” Project- with 100% holding through Agrointens SA and EVER AGRIBIO SA (subsidiary set-up in 2022, with the objective of entering the bio segment, with high growth potential), is about intensive agriculture with high added value. We are leaders of blueberry production with a planted area of 105 ha planted and pending planting. Blueberry production is a scalable business and we already hold new lands (50ha at EVER AGRIBIO farm), that will guarantee future growth.
“Atria Urban Resort” real-estate Project- with 50% holding through Straulești Lac Alfa SA, targets the 4-stage building of a residential centre that includes 1.378 apartments, located in the NW area of Bucharest municipality, near Colosseum Retail Park with easy access to the North area of the capital. On the reporting date, the construction and sale for Stage 1 with 160 apartments is completed. Stage 2 includes a number of 398 apartments, was completed in December 2021 and 323 apartments were sold (81%) of the total number of apartments. At present, we are currently running the building of Stage 3, with 350 apartments, in accordance with nZem energy efficiency standards.
Iasi Real Estate Project developed through EVERLAND SA, from Bd. Primaverii, no. 2, located on a 2.55 ha land is a residential multifunctional complex with office and commercial functions, with zonal urban plan approved on 28th February 2022. EVERLAND Centre, with a value of over 100 million euro, is a major urban reconversion project from a former, unused industrial area to the newest central urban hub in Iași. Urban indicators in the PUZ stage for M1 area are the following: POT max 45%, CUT max 4 and Rh max S/Ds+P+20E, and for M2 area: POT max 45%, CUT max 2.5 and Rhmax S/Ds +P+16E, with a spread area of 83,800 sqm, of 16,765 sqm offices, 62,870 sqm living area with 850 apartments, 4,191 sqm for additional services, 6,000 sqm green area and the corresponding parking lots, most of them underground.
In “Veranda Mall” Project we have an indirect 37% holding through Professional Imo Partners SA and Nord SA. The extension stage was completed with about 6,300 sqm with the area dedicated to commercial galleries and a multiplex cinema equipped with 12 projection rooms, the leasable area reaching approximately 34,000 sqm. The activity of the Veranda mall has steadily improved, revenues have exceeded the pre-pandemic level.
MWARE Solutions has built a comprehensive digitalization stack, which, alongside the existing BigConnect products, includes an Enterprise edition database and a low-code framework for application development. This stack currently represents a complete and highly competitive alternative to the technological stacks offered by other market players”, the report also shows.
Evergent Investments has a market value of RON1.1 billion. EVER shares have lost 13.9% so far in 2023, amid deals worth RON54.2 million, and 1.7% over the last 12 months, amid deals worth RON161.7 million, in line with stock market data.