INVL Technology Interim information for 3 months of 2023
28 Abril 2023 - 1:45AM
INVL Technology Interim information for 3 months of 2023
Equity of INVL Technology and the Company's net
asset value as of 31 March 2023 was EUR 37.90 million or EUR 3.1402
per share (31 December 2022 these figures were EUR 38.27 million
and EUR 3.1711 respectively).
Investments of the Company into managed
companies amounted to EUR 34.70 million at the end of March 2023
and EUR 35,01 million at the end of March 2022.
The net loss of the Company for 3 months of 2023
was EUR 0.373 million; the net profit of the Company for 3 months
of 2022 amounted to EUR 0.693 million.
Additional information:
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.
The person authorized to provide additional information:
Kazimieras Tonkūnas INVL Technology Managing Partner
E-mail k.tonkunas@invltechnology.lt
- Factsheet of INVL Technology_2023 IQ
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