INVL Technology, a company that invests in IT businesses, had an audited net profit of EUR 8.09 million in 2024, 56.6% more than in 2023 when the net profit was EUR 5.17 million.
The company’s equity and net asset value were EUR 51.43 million at the end of December 2024, which is 18.2% more than a year earlier. The value per share of its equity and NAV was EUR 4.2896 and grew 19%.
“INVL Technology’s portfolio companies working in cybersecurity, artificial intelligence, supercomputing, and the software development of information systems had good operating results. We are continuing work with potential investors on the process of selling the business,” says Kazimieras Tonkūnas, INVL Technology’s managing partner.
In mid-March last year, the company announced that it had signed an agreement with the Zurich branch of M&A intermediation service provider Corum Group’s Luxembourg-based unit Corum Group International, to advise and serve as M&A intermediary on the sale of the company’s portfolio of businesses.
Performance of INVL Technology’s portfolio companies
In 2024, INVL Technology’s portfolio companies had aggregated revenues of EUR 66.23 million, which is 5.8 % more than in 2023. Their gross profit increased 9.7 % in the period of comparison to EUR 19.78 million, while their aggregated EBITDA grew 42.7 % to EUR 5.13 million.
INVL Technology owns and manages the cybersecurity company NRD Cyber Security, the GovTech company NRD Companies, and the Baltic IT company Novian.
The consolidated revenue of NRD Cyber Security, which also owns NRD Bangladesh, increased 37.6% in 2024 compared to 2023 to EUR 10.19 million. NRD Cyber Security’s gross profit grew 12.7% in the same period of comparison to EUR 4.50 million, while its EBITDA rose 6.9% during the year to EUR 1.22 million.
NRD Companies had consolidated revenue of EUR 9.97 million last year, 9.3% less than in 2023. It had a gross profit of EUR 4.83 million in 2024, or 9.8% more than the previous year, while its group EBITDA decreased by 4.1% to EUR 1.30 million. Norway-based NRD Companies has the subsidiaries Norway Registers Development in Norway, with a branch in Lithuania, and NRD Systems and Etronika in Lithuania.
Novian had consolidated revenues of EUR 38.90 million in 2024, 2.4% more than in 2023, while its gross profit of EUR 8.80 million was 14.4% larger than the year before. The Novian group’s EBITDA more than doubled last year to EUR 2.58 million. The group consists of Novian in Lithuania with the technology-area businesses Novian Technologies, Zissor in Norway, Novian Eesti in Estonia, Andmevara in Moldova, and Novian Rwanda in Rwanda, and the software services businesses Novian Systems and Novian Pro in Lithuania.
INVL Technology, which is managed by INVL Asset Management, the leading alternative asset manager in the Baltics, is a closed-end investment company which must exit its investments no later than mid-July 2026 and distribute the money to shareholders.
Important information
This is a marketing communication of an information nature, which is not and shall not be construed as an offer to purchase investment shares of a collective investment undertaking, an investment recommendation, or investment research, as it is not designed to take into account the investment objectives, financial situation, or needs any individual investor.
When investing, the investors assume the risk associated with the investment. The value of investments can both rise and fall, and an investor may recover less than he/she/it has invested. Past investment results do not guarantee the same results or profitability in the future. Past performance is not a reliable indicator of future performance. Before making a decision to invest, potential investors should, on their own or with the help of investment advisers, assess the suitability of the investment for them along with the taxes and fees related to the investment, consider all the risks related to the investment, and carefully read the articles of association, prospectus and other documents of the respective collective investment undertaking.
