For the first 9 months of this year, Transilvania Investments recorded a gross profit of RON 68.42 million, respectively 85% of the profit forecast for 2024.

The value of total assets continues to grow to almost RON 2 billion, an 10% increase since the beginning of this year. The positive evolution of the Romanian capital market is also reflected in the main indicators reported by Transilvania Investments.

The Company closes the first three quarters of 2024 with an increase of 22.47% in the value of the financial instruments portfolio compared to its value at 30.09.2023, respectively an increase of 10.15% compared to the value at 31.12.2023.

The average daily liquidity of TRANSI shares was 144% higher than the average for the whole year 2023. The price of TRANSI shares on 30 September this year was RON 0.3620 /share, which is 11% higher than at the end of 2023, and the trading discount decreased by 3 percentage points compared to the end of last year, reaching 59%.

"The performance of the companies in Transilvania Investments' portfolio, most of which are listed on the Bucharest Stock Exchange, supported the growth of the Fund's net asset value, which reached RON 1,891.45 million in September. We continue to be closely involved in the decisions of the companies in which we are the majority shareholder, in order to ensure the sustainable growth of the portfolio under management and thus to achieve the Fund's main objective, which is to maximise the aggregate return for our shareholders," says Marius Moldovan, Executive President of Transilvania Investments.

The launch of the sale process of the Orizont Hotel in Predeal and the signing of agreements with international hotel chains, which entail investments of almost EUR 50 million for the operationalization of the Mercure Brasov Center Hotel and Hyatt Regency, Aro Palace Brasov Hotel, are among the latest decisions taken by Transilvania Investments, as part of its objectives to increase the performance of tourism assets and support regional development.

The detailed financial results as at September 30 can be consulted on the company's website at: https://transilvaniainvestments.ro/wp-content/uploads/2024/11/Raport-T3-2024-Transilvania-Investments-EN.pdf

Transilvania Investments will also present its quarterly financial results as at 30.09.2024 during the video conference call with analysts and investors that will be held on 21.11.2024, at 10:00.

Brasov, October 15 2024

The Investor Day provided an in-depth look at Transilvania Investments' strategic vision, financial performance and future plans, confirming its status as one of the leading investment funds in Romania and the company's commitment to transparency, innovation and sustainable growth.

"The strategy defined for the next four years gives us the chance to take Transilvania Investments to a new level. Every aspect has been designed to explore the opportunities that the market has to offer in order to maximize the returns for our investors", said Marius Moldovan, Executive President, during the event.

The investment fund currently focuses on four business lines - tourism, real estate, active trading and private equity. For each of these, there are initiatives that will drive both short-term performance and long-term success. In his presentation, Marius Moldovan highlighted the importance of innovation and strategic partnerships, showing that Transilvania Investments is well positioned to effectively exploit market changes and continue to generate value.

In-depth analysis of the company's performance in the first half of 2024 confirmed that the directions being pursued are succeeding in delivering financial stability and shareholder value. "We are relying on a strong and experienced team, both at the subsidiary management level and in the operational teams. For these, we have set very clear long-term development objectives and profitability growth targets. Maintaining full transparency, both in our reporting and in our direct relationship with investors, will help us to focus on what we have set out to do", pointed out Stela Corpacian, Executive Vice President.

The investors attending the event were interested in how the company intends to capitalize on emerging trends while maintaining its core values. Răzvan Raț, Executive Vice President, emphasized the fund's intention to increase not only the value of the managed portfolio, but also its quality, capitalizing on growth opportunities in the sectors in which the fund holds investments, while at the same time identifying new areas of investment interest.

The emphasis on diversification was well received by attendees, who acknowledged the value of this strategy in today's volatile economic climate. The company's proactive approach to portfolio diversification was regarded as a key strength, providing resilience in the face of market volatility.

Until a future meeting, all the information presented at The Investor' Day 2024 is available online for all those interested here.

Brasov, October 1st. 2024

The financial performance in the first half of 2024 underscores the sustained growth trajectory of Transilvania Investments in recent years. Achieving a net profit of 73.91 million lei, Transilvania Investments solidifies its status as a leading investment fund in Romania.

As of June 30, Transilvania Investments reported a net profit of 73.91 million lei, 41.1% higher than the same period last year. Revenues also increased to 93.21 million lei, up by 40.21% compared to June 30, 2023. The total assets of the investment fund amounted to 2,061.88 million lei, an increase of 569.79 million lei, or 38.19% compared to the same period last year, and an increase of 13.04% compared to December 31, 2023. The price of a Transilvania Investments share, traded on the Bucharest Stock Exchange under the symbol TRANSI, was 0.3720 lei at the end of June, an increase of 31.45% compared to the price recorded at the end of June the previous year.

Holdings in the financial sector, specifically in banking and financial services, continue to comprise the largest portion of the fund's portfolio, accounting for over 46%. Furthermore, Transilvania Investments has ramped up its focus on enhancing the performance of companies where it holds a majority stake, with a particular emphasis on the hospitality and real estate sectors.

"The affiliation of several hotels owned by ARO Palace Brașov and Turism Felix with prestigious international chains is an important step. We are talking about investments of tens of millions of euros that offer new, long-term perspectives for these assets. For Turism, Hoteluri, Restaurante Marea Neagră, we have pursued a different approach by adopting a new business model centered on asset leasing. Regarding the real estate assets within our portfolio, including Transilvania Investments Alliance Real Estate and the International Trade Center in Brașov, the occupancy rate has climbed to nearly 80%, and the modernization of other assets has been expedited through ongoing projects in Sibiu," said Marius Moldovan, Executive President of Transilvania Investments.

Details can be found in the half-yearly report at 30.06 2024: https://transilvaniainvestments.ro/wp-content/uploads/2024/08/Raport-T1-2024-Transilvania-Investments-BVB-EN.pdf

Brasov, August 22, 2024

August 9, 2024

Marius Moldovan officially assumes the role of Executive President of the investment fund Transilvania Investments, following the approval from the Financial Supervisory Authority dated August 9th. Together with Stela Corpacian and Răzvan Raț, Executive Vice Presidents, Marius Moldovan undertakes the mission of implementing the fund's development strategy for the next four years, focused on maximizing returns for investors and ensuring sustainable growth.

With over two decades of experience in the Romanian capital market, Marius Moldovan returns to the executive team of the investment fund, which he previously led as president during 2020-2021. The roles he has held over time, both within the management and supervisory structures of Transilvania Investments and within the companies where Transilvania Investments is a majority shareholder, provide him with the necessary expertise to implement the strategic directions defined for the development of the investment fund.

In his new mandate as Executive President, Marius Moldovan, along with the Executive Board members, will aim to achieve the main objectives set by Transilvania Investments shareholders for the 2024-2028 period: achieving an annual growth of at least 6% in the net asset value per unit and a reduction of at least 7% in the trading discount, remunerating shareholders through a mix of instruments (dividends and reducing the trading discount), increasing the share of dividends generated by the portfolio of majority stakes, restructuring the historical portfolio, and more.

„Transilvania Investments has now a team prepared to bring a fresh perspective and implement innovative strategies within its operations. Our primary focus remains on increasing the value of the managed portfolio, with the identification of new opportunities being crucial to meeting the ambitious objectives set for our shareholders. I am confident that, through the new leadership, we will sustain the upward trend of the recent years.," says Marius Moldovan, the new Executive President of Transilvania Investments.

As of June 30, 2024, Transilvania Investments manages assets worth 2,061.88 million lei, an increase of 38.19% compared to the value recorded in the same period of the previous year and an increase of 13.04% compared to December 31, 2023. In July, the investment fund began distributing dividends to shareholders for the 2023 financial year, with a gross value of 0.015 lei per share. The financial results for the first half of this year will be published on August 12.

Evolution of a tradition: Transilvania Investments Golf Challenge, at its 3rd edition

Transilvania Investments Golf Challenge, now at its third edition, has quickly become a benchmark event, which combine the competitive spirit of golf with unrivaled networking opportunities. Hosted on one of the most beautiful golf courses in Romania, the Sun Garden Golf Resort, Baciu, the annual competition has become a tradition eagerly awaited either by golf enthusiasts and business professionals.

Transilvania Investments Golf Challenge has shown that it perfectly exploits the synergy between strategy, precision and patience, offering a unique environment of interaction for business professionals and beyond. The relaxed yet competitive atmosphere provided the perfect backdrop for conversation and networking.

The third edition of the Transilvania Investments Golf Challenge was the hottest yet. Despite the scorching heat, the participants demonstrated their skills on the 9 holes of fairways and greens. The prizes offered at the end, including for the longest drive or the nearest pin, were applauded and enthusiastically received.  

Partners from the investment fund's tourism portfolio, Aro Palace Brașov, Turism Felix, Turism Tușnad, Turism Covasna, Tratament Balnear Buziaș, Hotel Orizont Predeal and Hotel Central Ploiești, have offered, also this year, awards for the NET and GROSS categories.

The real gain is in the interactions on the golf course and the collaborations that started on green. The Transilvania Investments Golf Challenge, the place where the precision of a golf swing meets the strategy of an investment plan, can be the foundation for future success on all levels.

 We look forward to the 2025 edition!

Brasov, July 16, 2024

Photo gallery © Action Foto and Lucian Muntean

The Financial Supervisory Authority has authorized Mr. Vasile-Cosmin Turcu and Mr. Horia-Cătălin Bozgan as members of the Supervisory Board for a term of office valid until 19.04.2025, in accordance with the Resolution of the Ordinary General Meeting of Shareholders no.1/22.04.2024 (Authorization no.73/11.07.2024).

Vasile-Cosmin Turcu has extensive experience of more than 25 years, mainly in strategic companies in the petrochemical industry in Romania, where he held management positions, as Executive Director of companies such as AZOMURES SA, COMES SA, ROMELECTRO SA, ROMPETROL RAFINARE SA, ROMINSERV SA /ROMPETROL GRUP and as member of the Boards of Directors at THR MAREA NEAGRĂ SA, SINTEZA SA. Cosmin graduated from the UBB Cluj as Chemical Technologist Engineer, with further studies, certifications and mentoring, leadership and management programs at prestigious universities in Dallas, Houston - USA, Germany and Romania.

 Horia-Cătălin Bozgan has been working for over 20 years in the financial-banking sector, being one of the best experts of the business environment in Brasov and in the central area of the country. With a remarkable activity, he coordinated, as director, the Brasov Branch of Banca Transilvania and is currently regional manager. He is a graduate of ASE Bucharest, with an MBA in Business Administration from the Maastricht School of Management - The Netherlands/ Bucharest.

As a result, the new composition of the Supervisory Board of the company, authorized as of the date of entry into force of the above-mentioned authorization, is as follows: Mr. Patrițiu Abrudan, Mr. Marius-Petre Nicoară, Mr. Constantin Frățilă, Mr. Vasile-Cosmin Turcu and Mr. Horia-Cătălin Bozgan.

Brasov, July 15 2024

Transilvania Investments Alliance S.A.  announces the commencement of the payment of the dividends distributed from the net profit of the financial year 2023 through Depozitarul Central S.A. („Depozitarul Central”) and Banca Transilvania („BT” or „the Payment Agent”), starting on 22.07.2024 (“Payment Date”), as follows:

• The dividend payment will be made in compliance with the capital market regulations and the provisions of the Tax Code in force and in accordance with the Resolution of the Ordinary General Meeting of Transilvania Investments Shareholders no. 1 of 22.04.2024.

• The shareholders entitled to receive dividends distributed from the net profit of the financial year 2023 are the shareholders registered in the Transilvania Investments Shareholder Register, kept by Depozitarul Central, as at 01.07.2024 – “Registration Date” (ex-date 28.06.2024).

• The gross dividend is RON 0.015/share, with the tax on dividends to be withhold at the rate provided by the law. The dividend payment will be made in RON (lei).

• The costs related to the payment of dividends, regardless of the payment method, shall be borne by the shareholders from the value of the net dividend.

• According to the provisions of the Tax Code in force, the standard tax rate applicable to dividend income is currently 8% of the gross amount of dividends, the exceptions regarding the non-taxation of the dividend income being provided separately. Also, non-resident shareholders may benefit from a more favourable tax rate, in accordance with the provisions of the Fiscal Code and the Double Taxation Convention concluded between Romania and the state of residence of the respective shareholder, based on the tax residence certificate valid on the date of dividend payment, submitted by the non-resident shareholder until 08.07.2024 at the latest.

• The payment of dividends afferent to the financial year 2023 is subject to the general provisions on limitation, being time-barred within 3 (three) years from the date of the commencement of payment. The last day of the payment of dividends for the financial year 2023 is 21.07.2027. The uncollected dividends afferent to the financial year 2022 will continue to be paid, along with the dividends related to the year 2023, until the end of the limitation period (22.06.2026).

The dividend payment methods are detailed in the current report: https://transilvaniainvestments.ro/wp-content/uploads/2024/06/Comunicat-plata-dividende-2023-EN.pdf

Brasov,  July 3, 2024.

Transilvania Investments, one of the most important investment funds in Romania, recorded a net profit of RON 16.69 million at the end of the first quarter. For the period 2024-2028, the investment fund aims to increase its net asset value per share by at least 6% and to reduce the trading discount by at least 7%.

According to the results as at 31 March this year, Transilvania Investments holds assets totaling RON 1,941.9 million, up 33.79% compared to the same period last year. Net assets also increased by 33.85%, amounting to RON 1,850.5 million (RON 0.8599/share). The gross profit achieved at the end of the first quarter of 2024, worth RON 16.52 million, is 13.72% higher than the profit forecast in the Revenue and Expenditure Budget for the first quarter of 2024.

This year, the shareholders approved a new Strategy of the investment fund to be implemented over the investment horizon from April 2024 to April 2028. Through this Strategy, Transilvania Investments has committed itself to its shareholders to achieve an annual increase in the net asset value per share of at least 6% and an annual reduction in the trading discount of at least 7%. The objectives of the Strategy also include rewarding shareholders through a mix of instruments (dividends and reduction of the trading discount), increasing the weight of dividends generated by the subsidiaries, restructuring the historical portfolio, continuing to implement best corporate governance practices etc.

In the coming period, the team's efforts will be focused on the implementation of the projects in the new business areas defined by the Fund's Strategy, namely the continuation of the projects started in the field of tourism, the efficient and centralized exploitation of real estate assets, active trading and the exploitation of the potential offered by the private equity investment niche.
Transilvania Investments is preparing to pay dividends for the year 2023. The shareholders approved the distribution of a gross dividend of RON 0.015/share, totaling RON 32.4 million, representing a 5.15% yield by reference to the average trading price of TRANSI shares in 2023.

For more information on the Fund's results and activity in Q1 2024, please consult the Quarterly Report as at 31.03.2024, which is available on the Company's website at www.transilvaniainvestments.ro (Investor Relations/Reports/Periodical reports section) and on the website of the Bucharest Stock Exchange at www.bvb.ro.

Brasov, 15th of May 2024

Transilvania Investments' strategy for the next 4 years: sustainable growth of net assets and investor returns

On 22 April this year, Transilvania Investments shareholders are invited to vote for the strategy that will be the core of the investment fund's activity for the next 4 years. Annual growth of at least 6% of the net asset value per share and annual reduction of at least 7% of the trading discount are the most important objectives of the investment fund team. The strategy proposed to shareholders for approval is published here.

The General Meeting of Shareholders takes place at a time when Transilvania Investments has obtained its best financial results in the last 5 years, with a profit of RON 237 million, increasing by 270% compared to the previous year and with assets under management amounting to RON 1.82 billion, increasing by 28%. The net asset value per share at the end of 2023 reached the record value of RON 0.8019.

These results allow the investment fund to allocate resources for development and investments and to ensure the shareholders remuneration both through the payment of dividends (RON 0.015/share, a yield of more than 5% related to the average trading price of the previous year) and through share buy-back programmes.

At the General Meeting of Shareholders to be held in Brasov, the investment fund comes to shareholders with a new executive team, currently under approval by the F.S.A., and an investment strategy for the next four years that responds to investor expectations. The main objective: maximising returns for the investors and ensuring sustainable growth of the net asset value.

Among the most important directions of action is the restructuring of the historical portfolio of holdings that have exhausted their growth potential. The Investment Fund has already taken the first steps in this direction by exiting from the shareholding of some companies, the exit policy being further implemented in order to secure sources of funding for investments with higher expected returns. Of these, assets in the tourism sector present important development opportunities. Solutions such as operating under international brands, which has been approached for the hotels in the ARO Palace portfolio, can also be implemented in other tourism companies in which the Fund is a majority shareholder.

Active trading, in order to maintain an adequate liquidity level profile of the managed portfolio, and efficient and centralised exploitation of real estate assets, including those of the industrial sector companies, are other directions of action that the fund team proposes to shareholders.

This strategy, based on balance and optimization, will allow Transilvania Investments to maintain the medium risk profile of the managed portfolio. For the first time, for the period 2024-2028, the fund defines clear objectives related to the annual growth of the Unit Net Asset Value (NAV) - at least 6%, and for the annual reduction of the trading discount - at least 7%.

Also as a new feature, Transilvania Investments will gradually review the company's sustainability policies and procedures (Environmental, Social, Governance), so that by 2028, the investment fund will integrate the sustainability-related risks into its investment decisions and consider the adverse impacts of investment decisions on sustainability factors. At the same time, the fund aims to gradually implement non-financial reporting in line with the relevant standards.

The information documents on the Fund's strategy, as well as on the other items on the agenda of the General Meetings of Shareholders convened for 22/23 April in Brasov are available on the company's website, in the sections O.G.M.S. April 2024 and E.G.M.S. April 2024. Shareholders who are unable to attend in person have the possibility to vote by electronic means or by correspondence until 19 April this year.

Brasov, March 29th, 2024