Alina Holdings PLC Reports Annual Financial Results for 2023

Alina Holdings PLC has released its audited results for the fiscal year ended December 31, 2023. The company reported an IFRS loss of £1,123,000, which translates to a loss of 4.95p per share. This compares to the previous year's loss of £136,000, or 0.60p per share. Such losses primarily stem from the decline in value of HEIQ investments and losses on hedges, albeit partially offset by gains in Dolphin Capital Advisors.

The Chairman, Duncan Soukup, elaborated on the outcomes in his statement, acknowledging that the year's performance was below expectations. He highlighted the Nasdaq 100's recovery, led by significant gains in stocks like Nvidia, which contrasted with their conservative expectations amidst higher interest rates and sticky inflation. Despite the adverse market conditions, Alina's strategic positioning, particularly in hedging, was not as effective as hoped, modestly dragging the company's performance.

Notably, Alina successfully closed a prominent short position in Tesla on April 23, 2024, realizing a gain of $731k. On the property front, the company faced challenges such as underperformance in Brislington, Bristol, due to tenant issues and scaffolding disruptions. The updates were more positive in Hastings, where refurbishments were completed and illegal tenancies resolved.

Soukup expressed concerns over ongoing geopolitical risks not being adequately priced into U.S. stock values, indicating potential market corrections ahead. Alina plans to maintain a substantial long positioning while continuing to shield against downside risks.