On Wednesday, the Ostrobothnia Arvo Sijoitusosuuskunta, a renowned investment cooperative, made its second earnings report public.
The esteemed Ostrobothnia Arvo Investment Cooperative shared its financial results for the period of July to December on the same day. This company had its inception on the First North marketplace of the Helsinki Stock Exchange just the previous year on the 20th of June.
The consolidated operating profit for the company during the six months from July to December in 2023 stood at 1.0 million euros. This is a significant rise from the previous year, where the figure stood at a loss of -4.8 million euros.
The group’s performance during the review period resulted in a profit of 0.6 million euros, a marked improvement from the loss of -1.6 million euros during the same period in the previous year. The profit attributed to each share during the review period was 0.74 euros, in stark contrast to the loss of -1.89 euros per share during the comparison period.
The group’s annualized return on invested capital during the review period was 1.5 percent, a decline when compared to the 4.0 percent during the same period in the previous year.
The parent company, Arvo Investment Cooperative, reported a result of 1.5 million euros, which is a significant rise from the 0.3 million euros during the comparison period. The profit per share for the parent company stood at 1.84 euros, compared to 0.39 euros during the previous year.
By the end of the year, two regional loan investments, amounting to a total of 1.2 million euros, were made in the regional investment portfolio.
In the national investment portfolio, an equity investment was realized, along with a combination of equity and loan investment, bringing the total to 5.0 million euros.
The demand for short-term bridge financing continued to be high. Bridge financing worth 5.6 million euros was recovered, and new bridge financing was granted for an amount of 7.6 million euros.
Regional and national investments made up 47 percent of the portfolio, an increase from 43 percent during the comparison period, measured by balance sheet values.
Loan investments constituted 33 percent of the portfolio of regional and national investments, declining from 38 percent in the comparison period.
This news is currently being updated and more information will be provided as it becomes available.
