Catalin Chis, CEO and Chairman of the Board of Directors of LIH, said the companies in which Life is Hard holds ownership stakes, were also performant in 2022.
Thus, Performia Finance, a company 40% held by LIH, had a turnover of RON2.85 million at end-2022, up 26.20% at business level and up 12.07% in terms of profitability.
The company Innobyte Solutions, fully owned by LIH, boosted its resilience and its medium and long-term profitability for easier access to experts. The firm launched a new business line based on the VTEX platform whose global market share is on accelerated growth. The new business opportunity capitalized by the company entailed, in the first half of 2022, a decline in the financial performance compared to 2021. However, the positive effects came into sight in the last quarter of 2022 when the new business line generated an additional of over RON900,000 in the turnover which reached RON9.72 million, having a positive impact on profitability.
The two companies entered the portfolio of LIFE IS HARD in 2020 (Performia Finance), respectively in 2021 (Innobyte Solutions – a process completed in the course of 2022).
LIH shares have gained 8.43% since the beginning of 2023, amid deals worth RON698,176.
LIH, with a market capitalization of RON58 million, is 29.6% held by Ioan-Catalin Chis and 27.8% by Cluj-based Active Power Solutions, as per stock market data.