{"id":17962,"date":"2023-04-06T17:18:24","date_gmt":"2023-04-06T14:18:24","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=17962"},"modified":"2023-04-06T17:18:27","modified_gmt":"2023-04-06T14:18:27","slug":"invl-technologys-net-asset-value-rose-to-eur-38-27-million","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/invl-technologys-net-asset-value-rose-to-eur-38-27-million\/","title":{"rendered":"INVL Technology\u2019s net asset value rose to EUR 38.27 million"},"content":{"rendered":"\n
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The equity and the net asset value of INVL Technology, a company that invests in IT businesses, amounted to EUR 38.27 million at the end of 2022 and grew 5.9% during the year. Equity per share, which increased the same percentage in the year, was EUR 3.17 at the end of 2022. The company had a net profit of EUR 2.1 million last year, which is 19.3% less than in 2021.<\/p>\n

From 14 July 2016, when it began to operate as a closed-end investment company, through the end of 2022, INVL Technology\u2019s equity per share rose 61.5% (also taking own-share purchases in 2021 into account), from EUR 1.96 to EUR 3.17 per share. The indicator\u2019s compound annual growth rate for the period was 7.7%.<\/p>\n

Calculating from the completion of INVL Technology\u2019s secondary share offering in 2015 through the end of 2022, equity per share increased 92.2% from EUR 1.65, with a CAGR of 9.1% for the period.<\/p>\n

\u201cThe fall in the value of technology companies worldwide and increased cost of capital in 2022 also had a negative impact on INVL Technology\u2019s asset holdings. On the other hand, the outlook for the businesses owned is positive. With increased sales of products and services in international markets, we believe their revenues will continue to grow faster than labour costs,\u201d says Kazimieras Tonk\u016bnas, INVL Technology\u2019s managing partner.<\/p>\n

During 2022, accounting for the effect of dividends that were paid, the value of the cyber-security company NRD Cyber Security grew 16% to EUR 9.9 million, the value of NRD Companies, which works in in business climate improvement and e-governance, increased 11% to EUR 7.3 million, and the value of the Novian group of IT service businesses decreased 9% to EUR 17.6 million.<\/p>\n

Regarding long-term plans, INVL Technology has begun to prepare for the sale of the businesses it owns and the wind-down of the fund in 2026.<\/p>\n

Performance of business holdings<\/strong><\/p>\n

Based on unaudited figures, the businesses that INVL Technology owns and manages had aggregated revenues of EUR 50.2 million in 2022, which is 24.7% more than in 2021. Their gross profit grew 22.4% in the period of comparison to EUR 14.7 million, while their aggregated EBITDA decreased 14.1% to EUR 2.5 million.<\/p>\n

\u201cLabour costs, which had been rising sharply, stabilised in the second half of 2022. Moreover, the businesses\u2019 earnings outside Lithuania started to grow significantly and profitability recovered,\u201d Kazimieras Tonk\u016bnas notes.<\/p>\n

NRD Cyber Security\u2019s consolidated revenue grew 13.3% last year to EUR 6.1 million compared to 2021. Its EBITDA was EUR 653,000, or 16.7% less compared to 2021. Since the end of 2021, NRD Bangladesh also operates in this business area.<\/p>\n

Novian had EUR 33.04 million of revenue in 2022, 27.9% more than in 2021. The Novian group\u2019s EBITDA last year was EUR 1.56 million and, compared to 2021, decreased 9.3%. The Novian group consists of Novian in Lithuania with the technology-area businesses Novian Technologies, Novian Eesti in Estonia and Andmevara in Moldova, the software services businesses Novian Systems and Elsis PRO in Lithuania and Estonia\u2019s Andmevara, and the digitization and media monitoring software supplier Zissor in Norway.<\/p>\n

NRD Companies\u2019 businesses last year had EUR 8.46 million of consolidated revenues, up 33.2% compared to 2021. This group\u2019s EBITDA in 2022 was EUR 213,000, or 28.3% smaller than in 2021. Operating in this business area is the Norwegian company NRD Companies and its subsidiaries Norway Registers Development in Norway with a branch in Lithuania, Lithuania\u2019s NRD Systems and Etronika, Norway Registers Development Rwanda in Rwanda, and the associate company Infobank Uganda in Uganda.<\/p>\n

INVL Technology is a closed-end investment company listed 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.<\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"

The equity and the net asset value of INVL Technology, a company that invests in IT businesses, amounted to EUR 38.27 million at the end of 2022 and grew 5.9% during the year. Equity per share, which increased the same percentage in the year, was EUR 3.17 at the end of 2022. The company had a net profit of EUR 2.1 million last year, which is 19.3% less than in 2021.<\/p>\n","protected":false},"author":19,"featured_media":17958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-17962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases"],"acf":[],"yoast_head":"\nINVL Technology\u2019s net asset value rose to EUR 38.27 million - 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\/en\/group-company-press-releases\/invl-technologys-net-asset-value-rose-to-eur-38-27-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVL Technology\u2019s net asset value rose to EUR 38.27 million - Invalda INVL\" \/>\n<meta property=\"og:description\" content=\"The equity and the net asset value of INVL Technology, a company that invests in IT businesses, amounted to EUR 38.27 million at the end of 2022 and grew 5.9% during the year. 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