Equity of the Company as of 31 December 2018 was EUR 28,1 mln or EUR 2.31 per share.
 
Investments of the Company into managed companies amounted to EUR 24.3 million at the end of 2018.
 
The net profit of the Company for 12 months of 2018 was EUR 4.3 mln; the net profit of the Company for the fourth quarter of 2018 amounted to EUR 4.2 mln.

Reported financial indicators of the company are preliminary, unaudited and do not represent disclosure of the net asset value of the company. Net asset value of the company will be reported under the terms set in the Articles of Association of the company. If audited net asset value is different from the value calculated based on preliminary financial indicators, provisions on error reporting set by Articles of Association of the company shall not be applied.

Additional information:
INVL Technology, a company that invests in IT businesses, according to preliminary unaudited data, had equity of EUR 28.1 million at the end of 2018, or EUR 2.31 per share. Equity per share increased almost 18 per cent during the year.
 
The value of the company’s investments in the businesses it owns totalled EUR 24.3 million at the end of 2018 and grew 16.9 per cent during the year (from EUR 20.8 million at the end of 2017). The company’s net profit for 2018, taking into account a revaluation of financial assets, was EUR 4.3 million.
 
“Last year the structure of INVL Technology’s holdings changed – the share of the fast-growing IT segment of cybersecurity and financial technology companies in the value of the full portfolio of businesses increased from 27 per cent in 2017 to 33 per cent in 2018. Moreover, the businesses got more than 6 per cent of revenue from new products introduced on the market,” said Kazimieras Tonkūnas, INVL Technology’s managing partner. 
 
Considering the results achieved by the portfolio companies, their unconsolidated revenue grew 18 per cent compared to 2017 to EUR 32.7 million in 2018, with total profit for the year up 17 per cent to EUR 13.6 million in 2018 (versus EUR 11.6 million in 2017). The aggregate EBITDA increased from EUR 1.97 million in 2017 to EUR 2.32 million in 2018. Growth of the companies’ revenue and value was also ensured by the strengthening of strategic partnerships, international operations and consolidation which was undertaken.
 
The companies strengthened their international ties. NRD CS became one of the seven partners of Oxford University’s Global Cyber Security Capacity Centre for assessing the cybersecurity maturity of countries, and in February 2019 – one of the International Telecommunication Union (ITU) cybersecurity competence centres for the region of Europe.
 
In 2018, INVL Technology companies carried out projects in 23 countries, of which 7 were for the first time. This year the companies will give more attention to the expansion of operations in European countries, especially the Balkans, and in Central Asia.
 
Preliminary businesses’ results
 
NRD Companies, which works in the area of business climate improvement and e-governance, had revenue in 2018 of EUR 7.1 million, or 1.5 per cent less than in the year before, while EBITDA was EUR 609 thousand and increased 9.3 per cent in the year.
 
The IT services and software group companies BAIP, Acena, Algoritmu Sistemos and Andmevara companies’ last year increased both revenues and EBITDA.
 
The revenue of BAIP and Acena, which are owned by Novian, grew 30.2 per cent in 2018 compared to 2017, to EUR 15.3 million. Their EBITDA was EUR 836 thousand and increased 7.2 per cent from the year before.
 
Algoritmu Sistemos’s revenue last year was EUR 3.2 million, or 16.3 per cent more than in 2017, while its EBITDA was EUR 420 thousand, which is 31.3 per cent more than in 2017.
 
Andmevara companies’ revenue for 2018 grew 39.5 per cent from the prior year to EUR 1.5 million, and its EBITDA was EUR 31 thousand (versus a negative EUR 271 thousand in 2017).
 
The revenue of NRD CS, which belongs to the cybersecurity group, in 2018 increased 11 per cent from the year before to EUR 3.9 million, while its EBITDA shrank 7.3 per cent to EUR 559 thousand.
 
INVL Technology has invested in the Norwegian company Norway Registers Development AS with a subsidiary in Lithuania, NRD Companies AS of Norway with subsidiaries NRD Systems UAB and Etronika UAB in Lithuania, Norway Registers Development East Africa Ltd in Tanzania, Norway Registers Development Rwanda Ltd in Rwanda and NRD Bangladesh Ltd in Bangladesh, and the associate company Infobank Uganda Ltd in Uganda. INVL Technology’s portfolio of businesses also includes Novian UAB with subsidiaries BAIP UAB and Acena UAB as well as NRD CS UAB and Algoritmu Sistemos UAB, all in Lithuania, and Estonia’s Andmevara AS and Andmevara Services OU with subsidiary Andmevara SRL in Moldova.
 
 Attached:
Unaudited interim condensed financial statements for 12 months of 2018;
Summary of key data;
Management statement.

 
The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail [email protected]