News from INVL Technology managed companies: NRD Companies Reports Revenue Increase In 2022
09 Mayo 2023 - 1:00AM
News from INVL Technology managed companies: NRD Companies Reports
Revenue Increase In 2022
In 2022, NRD Companies concentrated its
efforts on offering consulting services and implementing digital
solutions in the Caribbean, Central American and African regions
while seeing an uptick in its global brand
recognition.
NRD Companies, a global IT and consulting group
of companies, specializing in governance and economic digital
infrastructure development, and the provisioning of subject matter
consultancy services, has recently released its 2022 annual report.
The company's consolidated revenue in 2022 of €8.079 million was up
27% from the previous year. EBITDA decreased to €211 thousand
compared to €297 thousand in 2021.
Revenue increased in 2022 as a result of the
company’s vastly improved performance in several strategic
directions: E-registers, E-services and finance, implementation of
digital solutions, and the provision of consulting services. It is
noteworthy that market conditions gradually improved in 2022
following a challenging pandemic-related 2021.
Mindaugas Glodas, CEO of NRD Companies comments
that “2022 was a busy year of digital transformation projects in
the E-Registers and Public E-Services domains as well as in
capacity building consultancy projects in our strategic geographic
regions: Caribbean, Central America and Africa. In Anguilla we
carried out a fully remote implementation of a national
business e-registry system. This project proved that not only our
staff is capable of remote project management but that our clients
are receptive to this development as well. In Belize, we
implemented the Online Business Registration System (OBRS). I am
extremely proud of our client, the Belize Financial Services
Commission, and the NRD Companies team as the project gained global
recognition and was selected as a WSIS Prize 2023 Champion; In
Trinidad and Tobago, we developed a national E-payment strategy
which will act as a foundation for additional national reforms
aiming to improve tax collection within the country; in , Sint
Maarten, we have been working intensively on a 4 year long project
of developing a nationwide E-government infrastructure; and in an
ongoing project in Ghana, we are providing consulting services to
the Ministry of Finance’s External Resource Mobilization and
Economic Relations Division for the development of a corporate
strategic plan and organizational policy manuals.”
Commenting on the EBITDA decrease, Mindaugas
Glodas referred to the 14% increase in payroll cost. In addition,
an increase in subcontracting costs also played a relatively
significant role.
The company was also included in Forrester's
"The Digital Banking Engagement Platforms Landscape," further
solidifying its position as a leader in the industry, while gaining
global attention from major media outlets such as Bloomberg, The
Wall street Journal, The Paypers, and others.
“Despite the challenges faced in 2022, NRD
Companies demonstrated solid growth in revenue and maintained the
trust of its customers. The products developed by our group of
companies, in addition to our consulting services provided
throughout 2022, assisted many growing economies to reduce the
digital divide and implement digital innovations. This will result
in major improvements to the provision of government services in
2023 and beyond, and will have a significant impact on areas such
as ease of doing business, financial security, financial inclusion,
and overall quality of life. Our successful projects in Caribbean,
Central American and African countries are testimony to our
expertise, our experience working in those regions, and the trust
we have built with our clients. These accomplishments are also
inline with the UN's sustainable development goals. In 2023, NRD
Companies will continue to adhere to its objective to remain a
leading solutions and consultancy provider in support of
transforming developing countries.” concludes Glodas.
About NRD Companies
NRD Companies is a global IT and consulting
group of companies, specializing in governance and economic digital
infrastructure development. Headquartered in Norway, the group
unites companies operating in Fintech, GovTech, and practice-based
consulting areas in aiding countries to reach UN sustainable
development goals. NRD companies have a successful track record of
implementing projects, such as e-service delivery platforms,
national post digitalization, tax administration platforms, and
other digital solutions, in all 5 continents. The Group is a
recognized leader in the industry and is controlled by the INVL
Technology UTIB. NRD Companies is a parent company for the
following subsidiary corporations: Norway Registers Development AS,
NRD Systems, ETRONIKA, Infobank Uganda. More
information: http://www.nrdcompanies.com/
The person authorized to provide additional information:INVL
Technology Managing PartnerKazimieras
TonkūnasE-mail k.tonkunas@invltechnology.lt
- NRD_Companies_2022_results
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