Equity of the Company and the Company's net asset value as of 31 March 2018 was EUR 23,35 mln or EUR 1.9180 per share (in the end of 2017 – EUR 23.81 mln and EUR 1.9557 respectively).
Investments of the Company into managed companies amounted to EUR 20.48 million at the end of March 2018 (EUR 20.808 mln  – at the end of 2017).
The net loss of the Company for 3 months of 2018 was EUR 460 thousand (net loss for the same period in 2017 was EUR 468 thousand).
 
Additional information:
The equity of INVL Technology, a company that invests in IT businesses, was EUR 23.352 million, or EUR 1.92 per share, at the end of the first quarter of this year, and decreased 1.93% from the start of the year.
 
The company’s investments in businesses it owns totalled EUR 20.48 million at the end of March, which is EUR 328 000 less than at the start of the year. INVL Technology’s net loss in the reporting period was EUR 460 000, a bit smaller than its loss of EUR 468 000 in the same period last year.
 
“We started the year with a consolidation of business holdings, which we see as not just helping create competitive advantage in the Baltic countries, but also enabling an expansion of INVL Technology’s activities in countries of Northern Europe and making its businesses more attractive for potential investors. In addition, we continue actively looking for new investment opportunities, giving priority to acquisitions in Norway, Sweden or Lithuania,” said Kazimieras Tonkūnas, INVL Technology’s managing partner.
 
He said the results for the start of this year were due not just to the fact that some projects are still ongoing, but also to changes in the US dollar exchange rate. “Taking a longer-term perspective, the increases in most of the businesses’ revenues early this year are a basis for expecting a good year,” Tonkūnas said.
 
Looking at the businesses’ first-quarter results, NRD Companies had revenue of EUR 1.4 million, or 49.1% more than in the same period last year (EUR 0.97 million), while its EBITDA was EUR 105 000, up from a negative EUR 99 000. NRD CS’s revenue, meanwhile, grew 30.6% to EUR 303 000 (from EUR 232 000 in the first quarter of 2017), as its EBITDA fell to negative EUR 80 000 (from negative EUR 69 000 last year).
 
Andmevara AS’s revenue, at EUR 266 000, shrank 13.6% compared with the first quarter last year (when it was EUR 308 000), and its EBITDA fell to negative EUR 61 000 (from negative EUR 23 000). The revenues of BAIP and Acena this year decreased 20.4% to EUR 1.96 million (versus EUR 2.5 million last year); their EBITDA was a negative EUR 46 000 (versus a positive EUR 104 000 last year). The revenue of Algoritmu Sistemos, meanwhile, grew 51.7% in the first quarter of this year to EUR 525 000 (from EUR 346 000 in the same period last year), while its EBITDA was negative EUR 36 000 (versus negative EUR 86 000 last year).
 
A previous division of INVL Technology’s business holdings into four operating areas was replaced this year by three functional groups: a business climate improvement and e-governance group (to which the NRD Companies group belongs), a cyber security group (to which NRD CS belongs), and an IT services and software group (formed by combining operations in the areas of IT infrastructure and solutions for IT-intensive industries, and including Novian, BAIP, Acena, Algoritmu Sistemos and Andmevara AS).
 
INVL Technology has invested in the Norwegian company Norway Registers Development AS with subsidiaries NRD 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. It has also invested in Novian UAB (named Vitma until Feb. 2018) 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 with subsidiary Andmevara SRL in Moldova.
 
On its receipt of a closed-end investment company license in July 2016, INVL Technology’s management was assumed by INVL Asset Management – a part of Invalda INVL, one of the leading asset management groups in the Baltics. INVL Technology will operate as a closed-end investment company until 14 July 2026.
 
The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail [email protected]

Attached:
1. Financial statements for 3 months of 2018
2. Factsheet
3. Management statement