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JSC Development Finance Institution Altum Group unaudited interim condensed report for the nine-month period ended 30 September 2021
Emitents Attīstības finanšu institūcija Altum, AS (5493007HPQSSX8BJ4315)
Veids 2.2. Iekšējā informācija
Valoda EN
Statuss Publicēts
Datums 2021-11-30 13:06:38
Versijas komentārs

JSC Development Finance Institution Altum Group’s (hereinafter – Altum Group) outstanding gross portfolio is of 973 million euros as at 30 September 2021, of which the gross portfolio of financial instruments totalled 881 million euros, comprised by 30,045 contracts, including:

  • guarantees portfolio of 395 million euros, the total number of contracts 22,366;
  • loan portfolio of 325 million euros, the total number of contracts 6,611;
  • investments in venture capital funds for the total amount of 88 million euros, the total number of projects financed by funds 282;
  • Land Fund of 73 million euros, the total number of transactions 786.

Since the beginning of the year, Altum Group’s financial instruments portfolio has grown by 9.7% (78 million euros) in terms of volume and by 13% (3,467 contracts) in terms of the number of contracts.

According to the unaudited interim condensed reporting data, in 9 months of 2021 Altum Group has operated at 9.2 million euros profit.

Reinis Bērziņš, Chairman of the Management Board of Altum:

“ALTUM has continued to develop throughout the reporting period, as evidenced by our growing business volumes. In the first 9 months of the year, the growth of ALTUM’s portfolio was ensured by programmes that are not related to overcoming the consequences of the Covid-19 crisis. This proves that companies are taking advantage of the rapid economic recovery and actively invest in or replenish their working capital. ALTUM loans for purchase of agricultural land and loans for the growth of SMEs, high demand for housing guarantees for families with children and young professionals, performance of the Capital Fund and steady growth of the Land Fund were the biggest contributors to the increase in the portfolio. During the reporting period, ALTUM commenced work on the European Union’s Recovery and Resilience Facility (RRF) programmes for climate change mitigation projects in the SME and apartment building segments, which will ensure better availability of green financing in Latvia. I would also like to emphasize ALTUM’s activity at the stock exchange - in September we became the first Latvian company to join Nasdaq Sustainable Bond Network with our green bonds, while in October we launched the third bond issue programme that we had been working on during the reporting period and which attained the best financial terms of all of our bond issues to date.”

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. 

         Laura Lapkovska
         AS Attīstības finanšu institūcija Altum Investors Relationships Division
         Tel.: +371 26165699
         E-mail: Laura.Lapkovska@altum.lv

Altum_09_2021_ENG_Nasdaq.pdf (2260.21 kB)
Altum_09_2021_ENG_Nasdaq.pdf (2260.21 kB)