INVL Technology results for 9 months of 2023
30 Octubre 2023 - 1:45AM
INVL Technology results for 9 months of 2023
Equity of the Company and the Company's net
asset value as of 30 September 2023 was EUR 37.81 million or
EUR 3.13 per share. At the end of 2022, these figures were
EUR 38.27 million and EUR 3.17 respectively.
Investments of the Company into managed
companies amounted to EUR 34.20 million at the end of September
2023 and EUR 33.91 million at the end of September 2022.
The net loss of the Company for 9 months of 2023
was EUR 538 thousand, the net profit of the Company for 9 months of
2022 amounted to EUR 1.19 million.
Additional information:
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.
The person authorized to provide additional information:
Kazimieras Tonkūnas INVL Technology Managing Partner
E-mail k.tonkunas@invltechnology.lt
- Factsheet of INVL Technology for 9 months of 2023
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