Transilvania Investments recorded a net profit worth RON 232.26 million (EUR 47 mln) in 2023, according to the unaudited preliminary financial results. The result is 264.5% higher compared to the previous year, and the highest achieved in the last 5 years.

The net income, totaling RON 279.16 million at the end of 2023, is 205.6% higher compared to the income afferent to the previous year. On 31 December 2023, the Company’s total assets were worth RON 1,814.18 million, being 27.2% higher than those recorded in the corresponding period of the previous year.

The 2023 results reflect the portfolio streamlining strategy implemented in the last 3 years for all 5 main business lines. For the travel and leisure sector, the new business models implemented in the companies in which Transilvania Investments is a majority shareholder, such as Aro Palace and THR Marea Neagră, have led to increased profitability by redefining the medium-term plans. With an EUR 14 million investment, completed in 2023, Turism Felix is, for its part, a company with an important potential that will be exploited in the next years.

The real estate sector is in focus this year. With assets held in Brașov and Sibiu, Transilvania Investments works, together with the teams of the portfolio companies Independența, Casa Albă and Mecanica Codlea to develop new projects. The diversification of the portfolio by new financial investments, the capitalization of some investments through exits, but also the increase in the liquidity degree, are also among the actions that facilitated the resumption of dividend payments to shareholders in 2023.

The final annual financial statements will be subject to the financial audit and will be submitted for approval to the shareholders.

On February 15, the Supervisory Board of Transilvania Investments appointed a new Executive Board for the next four years. Starting April 21, the investment fund will be led by Mihai Buliga as Executive President, Stela Corpacian as Executive Vice-President, and Răzvan-Legian Raț as Executive Vice-President.

*This is a press release.