INVL Technology results for 9 months of 2022

As of September 30, 2022, the company’s equity and the company’s net asset value were EUR 37.35 million or EUR 3.09 per share. At the end of 2021, these figures were EUR 36.13 million and EUR 2.99, respectively.

The company’s investments in managed companies stood at 33.91 million EUR at the end of September 2022 and 31.78 million EUR at the end of September 2021.

The company’s net profit for the 9 months of 2022 was 1.19 million EUR, the company’s net profit for the 9 months of 2021 was 1.54 million EUR.

The provision of management and success fees had a positive impact on the company’s net asset value, which decreased by 2,339 thousand EUR in the 9 months of 2022 and 1,535 thousand EUR in the 9 months of 2021.

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Additional information:

INVL Technology, a company that invests in IT businesses, has equity and net asset value of EUR 37.35 million, or EUR 3.0948 per share, at the end of the third quarter of this year. The figure was up 3.4% from the start of the year.

INVL Technology’s net profit for the first nine months of 2022 was 1.194 million EUR and decreased by 22.4% compared to the same period last year.

Performance of INVL Technology’s business holdings

The companies that own and manage INVL Technologies had a combined revenue of 32.9 million euros in the first three quarters of this year, which is 23.6% more than in the same period of 2021. Their gross profit has increased by 9.6%. EBITDA was EUR 0.85 million and decreased by 56.9%.

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Regarding the geographical distribution of revenues, the businesses owned and managed by INVL Technologies had revenues of EUR 21.8 million in Lithuania, or 43% more compared to the nine months of 2021, and EUR 11.1 million or 2.4% less abroad.

“As we expected, the third quarter shows a positive picture – sales of companies have increased compared to last year. Kazimieras Tonkūnas, managing partner of INVL Technology, says foreign revenue continued to rise in the third quarter, reaching EUR 4.2 million, compared to EUR 6.9 million in the first half of the year.

This year, he notes, INVL Technology’s business holdings are expected to maintain the pace of revenue growth and return to last year’s profit levels. “We continue to have active sales and expect to ensure revenue growth in 2023 as well,” Tonkunas says.

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INVL Technology companies operate in three strategic directions. NRD Cyber ​​Security is a company dealing in cyber security, software and IT infrastructure services of Novian group of companies and NRD companies are dealing in business climate improvement and e-governance.

INVL Technology started operating as a closed-end investment company in July 2016. Its management was taken over by INVL Asset Management – ​​part of the leading Baltic investment management and life insurance group INVL. INVL Technology will operate as a closed-end investment company till July 14, 2026.

Person authorized to provide additional information:
Kazimieras Tonkunas
INVL Technology Managing Partner
e-mail [email protected]

  • INVL Technology Fact Sheet for 9 months of 2022

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