Publication of the report for the 3rd quarter 2019

To sum up the 3rd quarter of 2019, the INC Group continued its previous organizational changes and entered into strategic cooperation with InnerValue. This cooperation has translated into accelerated development in recent weeks. The management is working on updating the strategy that will take into account the expansion of business areas. In the 3rd quarter, the INC Group reached PLN 90 thousand of net profit attributable to the shareholders of the parent company, and as at September 30, 2019 it had nearly PLN 5 million in cash.

– Thanks to the changes made in the INC Group in the last two orthree years- we have a full portfolio of services for companies seeking financing and listed on the stock exchange. We are working on updating the development strategy, which will be a response to dynamic changes in the Group and market needs, in particular of young, innovative companies. – says Paweł Śliwiński, president of INC.

In the third quarter, revenues from sales amounted to PLN 2.2 million, including revenues from sales of consultancy services and goods amounted to PLN 607 thousand. This means an increase of 1 percent y/y. Profit from the sale of consultancy services and goods amounted to PLN 459 thousand, and net result PLN -390 thousand The profit attributable to the shareholders of the parent company amounted to PLN 90 thousand. As at September 30, 2019, cash amounted to PLN 4.9 million, which means an increase of PLN 1.4 million since the beginning of the year.

– In recent weeks we have accelerated the development of the Group and we are ready for further growth. We have a stable and strong financial situation, almost PLN 5 million in cash and over PLN 12 million in financial assets. – adds Paweł Śliwiński.

In November this year, INC Group has signed contracts for the process of obtaining financing or introducing shares to trading on the NewConnect Market with three companies from the gaming industry. The Group also launched the StartupZone section on the CrowdConnect.pl platform. Two crowd investment offers have started on the CrowdConnect.pl platform. On November 21, 2019, the General Meeting of Shareholders decided to adopt an incentive program for InnerValue Managing Partners. The program is based on the increase of the company’s market value in the next three years. At the same time, the Shareholders decided to appoint Mateusz Wcześniak, the president of Movie Games, to the Supervisory Board.

  1. Extended Consolidated Quarterly Report 3Q2019
 Tags: , , ,