Unaudited net loss of INVL Technology amounted to LTL 3 thousand (EUR 0.87 thousand).
The financial statements cover the interim financial period of the company, starting from the company’s establishment date 29 April 2014 and ending on 30 September 2014, therefore there are no comparative data.
The equity of INVL Technology, AB, which invests into information technology companies, amounted to LTL 17.104 million (EUR 4.95 million) or LTL 28.86 litas (EUR 8.36) per share at the end of September 2014.
The results of INVL Technology presents only the five months of activity, as the company started to operate in the market at the end of April 2014, after a separation from Invalda LT, one of the major companies in Lithuania investing in other businesses and managing assets. During this period INVL Technology, AB has suffered a loss of LTL 3 thousand (EUR 0.87 thousand).
Value of investments into BAIP Group reduced by LTL 2.727 million (EUR 0.79 million) and reached LTL 16.996 million (EUR 4.92 million) compared with the end of first half of the year. The change in value was influenced by the last twelve months increase in earnings before interests, taxes, depreciation and amortization (EBITDA) from LTL 5.111 million (EUR 1.48 million) (in the end of June 2014) to LTL 4.805 million (EUR 1.39 million) (in the end of September 2014) as well as reduce in the average multiplier of the Central and Eastern Europe technology companies from 7.6 to 7.3
“We are looking forward to a successful end of the BAIP group financial year and we are continuing to build the base for attracting new capital and investments in 2015” – Darius Sulnis, director of INVL Technology, said.
INVL Technology holds 80 percent stake in BAIP Group, a company investing into IT companies, shares.
During 9 months of 2014 consolidated revenue of BAIP Group, a group of specialized companies working in the field of informatics and legal informatics, according to preliminary data reached LTL 40.302 million (EUR 11.67 million), which is 30 percent more compared to the same period last year – LTL 31.084 million (EUR 9 million). BAIP group EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 21 percent and reached LTL 3.015 million (EUR 0.87 million). In the same period last year EBITDA amounted to LTL 2.493 million (EUR 0.722 million).
The shares of INVL Technology, AB are listed on NASDAQ Vilnius secondary list since 4 June 2014.
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