Audited INVL Technology results for 2015

INVL Technology, a Company, investing in IT businesses, during 2015 had an audited net profit of EUR 2.51 million. Fair value of investments managed by the Company after acquisitions and revaluation reached EUR 16.96 million in 2015.


Value of companies, controlled by INVL Technology, at the end of 2015 was estimated by an independent evaluator – Deloitte verslo konsultacijos UAB. Value of Vitma, which controls 100 per cent of critical IT infrastructure company BAIP UAB and its subsidiary Acena UAB, was estimated at EUR 11.47 million, cybersecurity company NRD CS UAB – at EUR 1.77 million, NRD group – EUR 3.7 million.


During 2015, the Company also received EUR 598 thousands dividends from the managed companies. Equity of the Company as of 31 December 2015 was EUR 24.24 million or EUR 1.99 per share.


“During 2015, INVL Technology issued shares worth EUR 10 million and began investing raised capital in order to profit from an increase in the value of owned enterprises. INVL Technology managed Norway Registers Development AS acquired 80 per cent shares of ETRONIKA UAB and signed Infobank Uganda Limited shareholders agreement. Another company managed by INVL Technology – BAIP UAB – began permanent operations in Latvia and Estonia”, commented the director of INVL Technology Kazimieras Tonkunas.


The company has also previously announced that in 2016 the acquisition of information system development company Algoritmu sistemos was completed, Norway Registers Development Rwanda Ltd. was established in Kigali (Rwanda) and Estonian Andmevara AS acquisition deal is expected to be completed by mid-April.


The largest INVL Technology investments currently are companies in Lithuania, Norway, Tanzania, Uganda and Rwanda: Norway Registers Development AS with subsidiaries NRD UAB, ETRONIKA UAB, Norway Registers Development East Africa Ltd and Norway Registers Development Rwanda Ltd, BAIP UAB with subsidiary Acena UAB, NRD CS UAB and Algoritmu sistemos UAB.




In 2015, revenue of NRD group (Norway Registers Development AS with subsidiaries), working in the field of business climate improvement and e-governance, was EUR 5.93 million while in 2014 it was EUR 3.29 million. EBITDA of NRD group in 2015 reached EUR 871 thousand, while in 2014 it was EUR 74 thousand. ETRONIKA UAB is included from the month the control was transferred – 1 July 2015.


BAIP UAB with subsidiary Acena UAB, working in the area of IT infrastructure, had revenue of EUR 12.15 million in 2015, while in 2014 it amounted to EUR 14.23 million. EBITDA of the companies last year was EUR 1.27 million, while in 2014 it reached EUR 1.72 million.


The revenue of specialised cyber defence company NRD CS in 2015 increased by 75 per cent from previous year and reached EUR 1.52 million (in 2014 it was EUR 870 thousand). EBITDA was EUR 191 thousand. In 2014, NRD CS EBITDA was EUR 37 thousand.

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