2018 marks a historical event in Lind Invest.
2018 was a historic year for Lind Invest, driven by the announcement of the transfer of ownership in Danske Commodities to Equinor.
The sale will mark a shift in the composition of assets in Lind Invest, and we are ready for the new situation, which leaves our investment strategy and approach unchanged.
The Group generated profit after tax of DKK 344.2 million in 2018, where Danske Commodities performed record-high and Lind Capital performed well.
Financial markets were volatile in 2018 and our investment portfolio generated a negative return in 2018, while markets and our internal benchmarks recorded significantly larger losses.
The financial portfolio benefitted from our investment philosophy by having exposure to companies with strong market positions, attractive valuations and strong free cash flow generation.
Since Lind Invest began our current investment strategy, the financial portfolio has delivered annual returns above our long-term strategic target, but 2018 detracted from our overall track record.
Lind Invest’s culture is based upon seeing opportunities where others don’t and on striking the right balance between analysis and execution. We all realise we need to develop, learn and adapt to change, which is one of the key drivers of our historical results. These abilities will be very important for the future success of Lind Invest.
With the internal capabilities and the external market opportunities, Lind Invest stand well prepared for the next journey and for 2019, and we are confident we will explore and are prepared to assess and execute on new opportunities.