The equity and the net asset value of INVL Technology, a company that invests in IT businesses, amounted to EUR 37.81 million at the end of the third quarter this year. Equity per share was EUR 3.1327. The figures decreased by 1.2% from the start of the year.
INVL Technology had an unaudited loss of EUR 538,000 loss in nine months of 2023, compared to a net profit of EUR 1.19 million in the same period last year. (Results for 2022 were affected by the reversal of a performance-fee provision by EUR 2.34 million.)
Performance of INVL Technology’s portfolio companies
The businesses that INVL Technology owns and manages had aggregated revenues of EUR 42.29 million in January-September this year, or 28.5% more than in the same period last year. Their gross profit grew 25.6% in the period of comparison to EUR 11.54 million, while their aggregated EBITDA rose 83.8% to EUR 1.56 million.
The revenues of INVL Technology’s portfolio companies in Lithuania in three quarters of 2023 totalled EUR 24.98 million and increased 14.6% from the same period last year, while their revenues abroad grew 55.8% to EUR 17.32 million.
“The companies’ growth has been affected most by international operations. The orders that are in place suggest a high rate of growth can be sustained this year,” says Kazimieras Tonkūnas, INVL Technology’s managing partner.
INVL Technology manages NRD Cyber Security (a cybersecurity company), NRD Companies (a GovTech company) and Novian (a Baltic IT company).
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 be wound down.