INVL Technology, a company that invests in IT businesses, published its audited results for 2018. They show the company’s equity at the end of 2018 was EUR 28 million, or EUR 2.3 per share, and increased 17.7 percent during the year. At the end of 2017, INVL Technology had equity of EUR 23.8 million, or EUR 1.96 per share.
The value of INVL Technology investments in the businesses it owns totalled EUR 24.2 million at the end of 2018 and grew 16.4 per cent during the year (from EUR 20.8 million at the end of 2017). The company’s net profit for 2018, taking into account a revaluation of financial assets, was EUR 4.2 million or 3.2 percent larger than in 2017.
INVL Technology also published its net asset value as of the end of 2018, which was EUR 28 million, for a net asset value per share of EUR 2.3018.
INVL Technology has invested in the Norwegian company Norway Registers Development AS with a subsidiary in Lithuania, NRD Companies AS of Norway with subsidiaries NRD Systems 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. INVL Technology’s portfolio of businesses also includes Novian UAB 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 and Andmevara Services OU with subsidiary Andmevara SRL in Moldova.
In July 2016, INVL Technology began to operate as a closed-end investment company. Its management was assumed by INVL Asset Management which is 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.