The value of cash and investments of the INC Group increased by PLN 8,4 million in 2Q 2020

Estimated financial data for the end of the second quarter have been published. During this time, the Group increased its cash position and recorded a significant increase in the value of equity investments. Currently, the INC Group has PLN 30.8 million in cash and short-term investments, compared to PLN 22.4 million at the end of March this year, including over PLN 8 million in cash (PLN +3 million q / q). The Group effectively uses the favorable market environment and continues dynamic development.

– The past quarter was a record period for us. During that time, we raised PLN 20.4 million of capital for our clients. This result is more than 5 times better than the value achieved in Q1. I can say that the pandemic did not adversely affect our business. Moreover, the current market environment is favorable for our business. I mean, first of all, record low interest rates and the deterioration of the attractiveness of other forms of investment, including so far popular real estate. This allows us to be fully optimistic about waiting for the full data for the first half of 2020. In addition, we plan to obtain approximately PLN 100 million for our clients within the next year – comments Paweł Śliwiński, president of INC.

As at June 30 2020, INC together with companies in which it owns 100% of ownership, i.e. INC Brokerage House and INC Private Equity ASI, had a total of: PLN 5.2 million in cash (an increase by PLN 3.5 million in the quarter), PLN 14.8 million of equity investments in listed companies not included in the capital group (+ PLN 4.2 million q / q) and PLN 0.2 million of investments outside the public market. In total, it is over PLN 20 million and as much as 61% more than at the end of the first quarter of this year. Together with the Carpathia Capital fund, the INC Group had over PLN 8 million in cash and securities worth PLN 22.7 million at the end of the quarter. In the last 3 months, the INC Group has also invested in 7 new entities from the gaming and biotechnology industries.

– In Q2, the boom still did not leave the NewConnect market. We still witnessed record high turnover and an influx of new investors to this market. In Q2 alone, the NCIndex quotations increased by over 81%, which clearly shows strong demand sentiment. The INC Group, due to the number of projects related to the NewConnect market, is and will be the beneficiary of the positive situation on this market – adds Paweł Śliwiński.

The good results of the INC Group go hand in hand with the new development strategy adopted in mid-March. It assumes achieving the position of a national leader in comprehensive services for small and medium-sized companies looking for financing for development. One of the foundations of INC’s development plan are diversified sources of income from consulting and transaction activities. The group also plans to expand its operations beyond Poland.