EVERGENT Investments reports a net result of RON 101.4 million in Q3 2022
- The net result of RON 101.4 million exceeds by 57% the estimated result for the entire year 2022
- The total value of the assets under management was RON 2,193 million
- RON 175.4 million invested in the first three quarters
- The company invested in the IT sector through the acquisition of a stake in the Romanian software manufacturer MWARE Solutions
- The total area of the "Blueberry Farms" exceeded 100 ha
- Optimum mix between the predictable dividend policy and the buyback programs
- More than 50% of the EVERGENT Investments portfolio is aligned with ESG principles.
EVERGENT Investments, a company listed under the ticker EVER, which differentiates itself through its private equity projects, reports that the estimated net result for the whole year 2022 was exceeded by 57% in the first 9 months of 2022. The net result of RON 101.4 million is comprised of RON 87 million net profit and RON 14.4 million net gain from financial asset sale reflected in retained earnings. The total value of the assets under management was RON 2,193 million and the value of the net assets was RON 2,067 million on September 30, 2022.
“In the first nine months of 2022, EVERGENT Investments achieved solid results, exceeding by 57% the estimated budget for the entire year 2022, in a context marked by geopolitical and economic uncertainties, that led to extreme market volatility. We have operated cautiously and rebalanced the asset portfolio with a strong focus on risk management. We continued to apply the company's strategy by allocating capital in the financial-banking and energy sectors at the BSE, but also in private equity investments in sectors such as IT and agribusiness, with increased profitability potential in the medium and long-term.
The obtained results confirm the solidity of the business model and the strength of EVERGENT Investments”, said Claudiu Doroș, President of the Board and CEO of EVERGENT Investments.
The investments continue in the Private Equity Portfolio
The private equity projects differentiate the company from other capital market players and bring an attractive return/risk ratio, with significant long-term profit. The AIF legal framework allows the allocation of up to 40% in unlisted assets and EVERGENT Investments has set a first threshold of 20-25% of assets for allocation in these projects.
- Agrointens, a company from the EVERGENT Group, increased the area for the cultivation of blueberries by purchasing a 23 ha plot of land in Ratesti, Arges county, reaching after planting a total area of 109 ha.
- EVERGENT invests in the IT sector by acquiring a significant stake in the Romanian software producer MWARE Solutions SA. The IT sector is one of major importance in the Romanian economy, with a contribution of about 6.2% to the Gross Domestic Product, which amounts to EUR 13.6 billion. The expectations of this sector are for double-digit growth rates in the coming years. MWARE SOLUTIONS differentiates itself from local and even international players in the IT deep-tech sector through its technological platform that provides the ability to analyze unstructured data within organizations using a semantic pattern of data understanding based on neural networks, with native deep-learning and machine learning capabilities to discover new perspectives in decision-making, customer understanding, new indicators and possibilities for automating organizational processes based on artificial intelligence.
- The residential complex ATRIA URBAN RESORT developed by EVERGENT together with Cityring Development, meets the nZEB energy efficiency standard, i.e. an energy consumption close to zero, complying with eco-friendly principles, starting with the third phase of the project. The systems used bring benefits to the owners because they allow the replacement of the indoor air with fresh air from the outside through a process called "energy transfer" so that the heat from the outgoing air is used to raise the temperature of the outside air as it enters the house, thus reducing additional energy consumption.
EVERGENT applies the predictable dividend policy of the last 15 years
In 2022, the company continues to apply the predictable dividend policy of the last 15 years, allocating RON 62.2 million lei for the distribution of dividends to its shareholders. Through the optimal mix between the predictable dividend policy and the buyback programs, the company returns value to its shareholders. This aspect is supported by the dividend distribution rates of the last years, which prove the stability of the company's cash flows, implicitly a strong financial position in the market.
About EVERGENT Investments
EVERGENT Investments, with over 30 years of experience in the Romanian capital market, is a trailblazer, contributing to the development of the community it belongs to. By applying a well-articulated and responsible strategy, EVERGENT Investments efficiently capitalizes on investment opportunities, both in the capital market and through private equity projects in agribusiness, real estate and technology.
Through its predictable dividend policy and buyback programs, the company provides the shareholders with both short-term profits and the long-term prospect of increasing the value of the assets owned. Over the past 11 years the company has distributed dividends of more than RON 675 million and the value of the assets under management exceeded the significance threshold of EUR 500 million in 2021.
The executive management of EVERGENT Investments consists of Claudiu DOROȘ as President CEO and Cătălin IANCU as Deputy CEO.
This is a press release.