The equity and the net asset value of INVL Technology, a company that invests in IT businesses, amounted to EUR 37.9 million at the end of March this year. Equity per share was EUR 3.1402. The figures were slightly (0.97%) lower than at the start of the year.
INVL Technology had a EUR 373,000 loss in the first quarter of 2023, compared to a net profit of EUR 693,000 in the same period last year. The results under comparison were affected by the reversal of a performance-fee provision in the first quarter of 2022.
Performance of INVL Technology’s business holdings
The businesses that INVL Technology owns and manages had aggregated revenues of EUR 13.66 million in the first quarter this year, or 24% more than in the same period last year. Their gross profit grew 23.7% in the period of comparison to EUR 3.44 million, while their aggregated EBITDA rose nearly eight-fold to EUR 310,000.
The revenues of INVL Technology’s business holdings in Lithuania in January-March 2023 totalled EUR 8.86 million and increased 14.2% from the same period last year, while their revenues abroad grew 47.4% to EUR 4.8 million.
“We expect that growth in the companies’ earnings abroad along with demand from large corporates and the public sector will help to maintain a high rate of growth this year, and that slower growth of labour costs will ensure higher profitability,” says Kazimieras Tonkūnas, INVL Technology’s managing partner.
INVL Technology owns the cybersecurity company NRD Cyber Security, the Novian software services and IT infrastructure group, and, in the area of business climate improvement and e-governance, the NRD Companies businesses.
INVL Technology is a closed-end investment company traded on the secondary list of the Nasdaq Vilnius stock exchange (INC1L). It is managed by INVL Asset Management. INVL Technology’s investments will be realised by 14 July 2026, the proceeds will be paid out to shareholders, and the fund will wind down.