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JSC Development Finance Institution Altum unaudited interim condensed report for the three months period ending 31 March 2025
Emitents Attīstības finanšu institūcija Altum, AS (5493007HPQSSX8BJ4315)
Veids 2.2. Iekšējā informācija
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Datums 2025-05-28 13:26:20
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As of 31 March 2025, JSC Development Finance Institution Altum (hereinafter – ALTUM) had the gross portfolio of support instruments of EUR 1,291 million, of which the gross portfolio of financial instruments totalled EUR 1,287 million, comprised of 39,725 contracts, including:

  • loan portfolio of EUR 495 million, the total number of contracts 7,196,
  • guarantees portfolio of EUR 548 million, the total number of contracts 30,932,
  • investments in venture capital funds for the total amount of EUR 97 million, the total number of projects financed by funds 195,
  • Land Fund of EUR 147 million, the total number of transactions 1,402.

Since the beginning of the year, ALTUM’s financial instruments portfolio has grown by EUR 56 million in terms of volume and by 2.6 % (995 projects) in terms of the number of projects.

According to the unaudited interim condensed reporting data, in the three months of 2025 ALTUM generated EUR 4.7 million in profit.

Reinis Bērziņš, Chairman of the Management Board of Altum:

“Increased lending pace is characteristic for the first quarter of 2025. During the first three months of the year, the volume of new transactions of ALTUM's financial instruments increased by 30% compared to the same period in 2024. The most rapid growth was recorded in the guarantee portfolio, particularly within the private individuals segment. This growth was primarily driven by the active issuance of guarantees for improving the energy efficiency of multi - apartment buildings, implemented with support from the EU Recovery Fund, as well as sustained demand for housing guarantees. For the second consecutive quarter, demand for guarantees in SME segment reached its highest level since the end of 2022. Active deployment of EU Recovery Fund programmes contributes to new loan volume in particular loans for digital transformation and construction of affordable housing. In addition, the first quarter demonstrates high demand for SME lending, and we see that the issuance of large investment loans with a capital rebate continues actively.

ALTUM’s first quarter results show its stable contribution to fostering economic growth and its effective role in the implementation of national and EU-level support instruments.”

JSC Attīstības finanšu institūcija Altum (JSC Development Finance Institution Altum) is a Latvian 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 28 January 2025 Moody’s Ratings affirmed Altum’s Baa1 long-term issuer rating, with outlook stable. The rating as well as the short-term issuer rating at P-2, the same as affirmed on 2 February 2024. ALTUM is rated by Moody’s Finance Companies Methodology, published in July 2024. 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
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