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
