{"id":14722,"date":"2021-04-30T00:00:00","date_gmt":"2021-04-29T21:00:00","guid":{"rendered":"https:\/\/www.invaldainvl.com\/group-company-press-releases\/invl-technology-earned-a-net-profit-of-eur-0-6-million-in-the-first-quarter-of-this-year\/"},"modified":"2021-04-30T00:00:00","modified_gmt":"2021-04-29T21:00:00","slug":"invl-technology-earned-a-net-profit-of-eur-0-6-million-in-the-first-quarter-of-this-year","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-technology-earned-a-net-profit-of-eur-0-6-million-in-the-first-quarter-of-this-year\/","title":{"rendered":"INVL Technology earned a net profit of EUR 0.6 million in the first quarter of this year"},"content":{"rendered":"\n

\tThe equity of INVL Technology, a company that invests in IT businesses, increased 2,1% in the first quarter of 2021 from EUR 33.7 million, or EUR 2.77 per share, to EUR 34.4 million, or EUR 2.82 per share.
\t 
\tINVL Technology’s net profit in the first quarter was EUR 0.6 million; in the same period last year the company had a net loss of EUR 0.1 million.  
\t 
\tDuring the first quarter of this year the value of the Novian companies decreased EUR 0.2 million, while the value of NRD Companies and NRD Cyber Security rose EUR 0.12 million and EUR 0.11 million, respectively. The consolidated revenue of NRD Companies AS with its subsidiaries increased 7.5% versus the same period last year, to EUR 1.8 million, while the companies’ consolidated EBITDA decreased 21% to EUR 0.2 million.
\t 
\tBoth the revenue and the EBITDA of the Novian group’s companies decreased. Revenue fell 17% to EUR 4.3 million and EBITDA fell from EUR 0.22 million to EUR 0.06 million. The poorer performance of the mentioned groups was offset by NRD Cyber Security’s significantly better operating results.
\t 
\tEven though the aggregated revenues of the companies in all business areas decreased, aggregated EBITDA was unchanged in the first quarter of 2021 compared to the same period of 2020 at EUR 0.4 million.
\t 
\tNRD Cyber Security, which works in the area of cyber security, is growing rapidly this year due to sales of proprietary products as well as consulting work and recurring services. The company’s first-quarter revenue grew 90% compared with the first quarter of 2020, from EUR 0.35 million to EUR 0.67 million. EBITDA, which was negative in the first quarter of 2020, was a positive EUR 0.17 million in the first quarter of this year.
\t 
\tOver the coming three years, Novian and NRD Companies, which work in public sector digitalization, will be significantly impacted by implementation of the recently announced EUR 673 billion EU Recovery and Resilience programme. Of that amount, EUR 2.2 billion is envisaged for Lithuania, with EUR 440 million of that going for digitalization of public services.
\t 
\t17 subsidiaries operating in 3 business directions<\/strong>
\t 
\tINVL Technology’s companies currently operate in three directions. Working in the area of business climate improvement and e-governance is the Norwegian company NRD Companies AS with its subsidiaries: Norway Registers Development AS of Norway with a Lithuanian subsidiary, NRD Systems UAB and Etronika UAB of Lithuania, Norway Registers Development Rwanda Ltd in Rwanda, NRD Bangladesh Ltd in Bangladesh, and the associate company Infobank Uganda Ltd in Uganda.
\t 
\tWorking in the IT services and software area is the Novian group: Novian UAB in Lithuania with the technologies companies Novian Technologies UAB, Andmevara Services OU in Estonia and Andmevara SRL in Moldova, with the software services companies Novian Systems UAB and Estonia’s Andmevara AS, and with the digitization and media monitoring software provider Zissor AS of Norway. Operating in the area of cybersecurity is NRD CS UAB.
\t 
\tIn July 2016, INVL Technology began to operate as a closed-end investment company. Its management was assumed by INVL Asset Management – a 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.<\/p>\n","protected":false},"excerpt":{"rendered":"

The equity of INVL Technology, a company that invests in IT businesses, increased 2,1% in the first quarter of 2021 from EUR 33.7 million, or EUR 2.77 per share, to..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[6],"class_list":["post-14722","post","type-post","status-publish","format-standard","hentry","category-group-company-press-releases","tag-imported"],"acf":[],"yoast_head":"\nINVL Technology earned a net profit of EUR 0.6 million in the first quarter of this year - Invalda INVL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.invaldainvl.com\/group-company-press-releases\/invl-technology-earned-a-net-profit-of-eur-0-6-million-in-the-first-quarter-of-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVL Technology earned a net profit of EUR 0.6 million in the first quarter of this year - 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