INVL technology results for 9 months in 2022

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

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

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

The Company’s NAV was positively impacted by the provision for management and performance fees, which decreased by EUR 2,339,000 in the 9 months of 2022 and by EUR 1,535,000 in the 9 months of 2021.

Additional information:

INVL Technology, a company investing in IT businesses, had equity and net asset value of €37.35 million, or €3.0948 per share, at the end of the third quarter of this year. The numbers are up 3.4% year-to-date.

INVL Technology’s net income for the first nine months of 2022 was EUR 1.194 million, down 22.4% compared to the same period last year.

Performance of the company holdings of INVL Technology

The companies that INVL Technology owns and manages had total revenues of EUR 32.9 million in the first three quarters of this year. The EBITDA was EUR 0.85 million, down 56.9%.

Referring to the geographical distribution of revenues, the companies owned and managed by INVL Technology generated revenues in Lithuania of EUR 21.8 million or 43% more than in the nine months of 2021 and EUR 11.1 million or 2.4% less abroad.

“As we expected, the third quarter paints a positive picture – company sales are higher than in the previous year. Foreign sales continued to increase, reaching EUR 4.2 million in the third quarter compared to EUR 6.9 million in the first half of the year,” says Kazimieras Tonkūnas, Managing Partner of INVL Technology.

He notes that INVL Technology’s business holdings are expected to maintain their rapid revenue growth this year and return to last year’s levels of profitability. “We continue active sales and expect to ensure sales growth in 2023 as well,” says Tonkūnas.

INVL Technology companies operate in three strategic directions. The company NRD Cyber ​​​​Security works in the field of cyber security, the Novian group of companies works in the field of software and IT infrastructure services, and the companies of the NRD companies work in the fields of improving the business climate and e-governance.

INVL Technology was founded in July 2016 as a closed investment company. Management has been taken over by INVL Asset Management – part of the leading Baltic investment management and life insurance group INVL. INVL Technology will be managed as a closed investment company until July 14, 2026.

Person entitled to information:
Kazimiera’s Tonkunas
Managing Partner of INVL Technology
E-mail [email protected]

  • INVL Technology fact sheet for 9 months 2022

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