In 2024, INC Group fully launched its depositary service for investment funds (FIZ), achieving profitability in this area by the end of the year. Despite a relatively weak IPO market, the Group executed 12 securities issuance transactions with a total value of PLN 80 million. As a result, INC Brokerage House significantly expanded its investor base, gaining 2,500 new clients. This growth positions the Group to capitalize on market opportunities in 2025, with a project pipeline that already looks stronger than a year ago.
In 2024, INC Group achieved all its operational goals, focusing on market alignment for services and areas initiated in 2023. These included intensifying efforts to attract clients for its depositary services, executing offers as a direct participant of the Central Securities Depository of Poland (KDPW), and expanding its investor client base.
“Last year, we achieved all our operational objectives. Unfortunately, translating these achievements into financial results was slower than we had initially anticipated. Therefore, we are not fully satisfied with last year’s performance. However, what previously weighed on the Group’s results, such as the development of the FIZ depositary service, is now positively contributing to our financial outcomes. Additionally, we are in talks with several other funds, which should soon result in new agreements,” commented Paweł Śliwiński, CEO of INC S.A.
By the end of 2024, INC Brokerage House had over 3,500 agreements for order receipt and transmission, compared to 1,000 at the end of 2023. This dynamic growth was made possible by executing multiple securities issuance transactions, including the largest IPO preceding a NewConnect debut for Mentzen S.A. Other popular issuances included SatRev S.A. and Play of Battle S.A.
“A relatively weak market was not conducive to many transactions. Of course, our ambitions exceed 12 transactions per year. However, even in such conditions, we raised PLN 80 million for our clients and acquired 2,500 new investor clients. This large and fresh investor base serves as leverage for us to take full advantage of even a brief market revival. We also introduced three new companies to NewConnect and completed 11 secondary listings,” Śliwiński added.
With the main objectives of its current strategy achieved, INC’s management is beginning work on updating its development plans. The updated strategy for the next two years will be presented this quarter.
“We believe that the new plans will elevate us to an even higher organizational level and translate into increased value for shareholders, just like our previous efforts, the results of which will be reflected in this year’s financial performance. Furthermore, our project pipeline already looks stronger than a year ago. Therefore, we approach 2025 with a certain level of optimism,” concluded CEO Śliwiński.
Source: Manager Plus