Fondul Proprietatea recorded, in the first quarter of the year, a net loss of 2.4 million lei, down from the 5.8 million lei posted in the same period in 2024, according to a company report submitted to the Bucharest Stock Exchange on Thursday.
The fund reached a net operating income of 6.4 million lei, in the first quarter of this year, compared to 0.9 million lei in the same period last year.
It also had operating expenses of 8.6 million lei in the first quarter of this year, compared to 6.3 million lei in the first quarter of 2024.
"Operating income mainly includes gross dividend income, fair value changes related to instruments at fair value through profit or loss, interest income and net gains/losses realized from transactions with financial instruments. Changes in the fair value of the Fund's holdings are recognized in profit or loss. Operating income is influenced by the performance of portfolio companies and their decisions regarding dividend distribution, changes in the share price of listed companies as well as the performance of the money market. Interest income in Q1 2025 came from short-term deposits and distribution bank accounts held with banks. The income tax recorded by the Fund for Q1 2025 amounts to 0.5 million lei and includes amounts recorded both in the profit or loss account (0.2 million lei) and in equity - as a result of the transfer to the retained earnings of the blance of uncollected dividend distributions,for which the statute of limitations has expired (0.3 million lei)," the report states.
According to the same source, the key performance indicator for the Fund is the net asset value (NAV). The Fund is required to publish the net asset value per share monthly according to local regulations issued by the capital market regulator, within 15 calendar days from the end of the reporting month and from the date on which capital changes were registered with the Trade Register.
Total NAV at the end of the first quarter was 2.148 billion lei, compared to 2.336 billion lei at the end of the first quarter of 2024.
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