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INVL Technology Investor Presentation 2019
2265_rns_2019-03-29_58cac4dd-2424-4b8f-8b5b-93c0ae769a20.pdf
Investor Presentation
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INL
TECHNOLOGY
RESULTS FOR 2018
INVL Technology is a closed-end investment company (CEF) which invests in IT businesses. It is listed on the Nasdaq Vilnius exchange. A strategy of INVL Technology is to invest in national-level European IT businesses with high globalisation potential and grow them into global players by utilizing the sales channels and intellectual capital of the managed companies.
| Name of the company | Special closed-end type private capital investment company INVL Technology |
|---|---|
| Company code | 300893533 |
| Start of CEF activities | 14-07-2016 |
| Period of activity | 10 years (+ 2 years) |
| Management company | INVL Asset Management UAB |
15 operating companies form a portfolio of INVL Technology directly and indirectly managed companies. The classification of companies into 4 areas of activity, as used until now, is replaced by 3 new functional groups
Currently NRD Companies is undergoing reorganisation. NRD Companies AS will become the managing company of the group and Norway Registers Development AS will become a consulting company.
| NET ASSET VALUE | ||
|---|---|---|
| EUR | 31-12-2017 | 31-12-2018 |
| NAV | 23,811,753 | 28,024,654 |
| NAV per share | 1.9557 | 2.3018 |
| KEY FIGURES OF INVL TECHNOLOGY | ||
| THOUSAND, EUR | 2017 | 2018 |
| Change in the fair value of financial assets | 4,112 | 3,421 |
| Profit (loss) before taxes | 4,084 | 4,213 |
| Net profit (loss) | 4,084 | 4,213 |
| THOUSAND, EUR | 31-12-2017 | 31-12-2018 |
| Financial assets value | 20,808 | 24,229 |
| Cash and Cash equivalents | 5,030 | 2,230 |
| Bonds | 1,235 | |
| Other assets | 39 | 456 |
| TOTAL ASSETS | 25,877 | 28,150 |
| Other liabilities | 2,065 | 125 |
| Equity | 23,812 | 28,025 |
| TOTAL EQUITY AND LIABILITIES | 25,877 | 28,150 |
| FINANCIAL ASSETS, THOUSAND EUR | ||
| COMPANIES | 31-12-2017 | 31-12-2018 |
| NRD Companies (includes Etronika UAB, NRD UAB, Norway Registers Development AS and others) | 3,624 | 5,458 |
| Novian (includes both BAIP UAB and Acena UAB) | 7,497 | 7,537 |
| Algoritmų sistemos UAB | 3,821 | 4,078 |
| Andmevara | 525 | 470 |
| NRD CS UAB | 5,067 | 6,455 |
| FINtime UAB | 274 | 231 |
| TOTAL | 20,808 | 24,229 |
| CHANGE IN FAIR VALUE OF FINANCIAL ASSETS | ||
| THOUSAND, EUR | ||
| Opening balance | 20,808 | |
| Revaluation | 3,421 | |
| CLOSING BALANCE | 24,229 |
INL TECHNOLOGY
RESULTS FOR 2018
THE RESULTS OF INVL TECHNOLOGY PORTFOLIO COMPANIES FOR 2018
KEY PROFIT (LOSS) ITEMS, THOUSAND EUR¹
| NRD companies | Etronika UAB² | NRD UAB² | ANDMEVARA³ | BAIP and ACENA | ALGORITMŲ SISTEMOS | NRD CS | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | |
| Revenue | 7,232 | 7,122 | 1,667 | 1,880 | 2,020 | 2,373 | 1,092 | 1,523 | 11,732 | 14,894 | 2,757 | 3,207 | 3,493 | 3,876 |
| Gross profit | 4,287 | 4,375 | 1,568 | 1,713 | 1,842 | 1,849 | 821 | 1,422 | 2,245 | 2,267 | 2,136 | 2,658 | 1,755 | 1,863 |
| EBITDA | 557 | 609 | 294 | 214 | 134 | 72 | (271) | 31 | 780 | 777 | 320 | 420 | 603 | 559 |
| EBIT | 363 | 453 | 268 | 174 | 93 | 35 | (292) | 2 | 317 | 293 | 301 | 389 | 586 | 535 |
| Net Profit (Loss) | 397 | 373 | 248 | 140 | 71 | 1 | (292) | (47) | 203 | 238 | 299 | 324 | 468 | 460 |
KEY BALANCE SHEET ITEMS, THOUSAND EUR¹
| NRD companies | Etronika UAB² | NRD UAB² | ANDMEVARA | BAIP and ACENA | ALGORITMŲ SISTEMOS | NRD CS | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31-12-2017 | 31-12-2018 | 31-12-2017 | 31-12-2018 | 31-12-2017 | 31-12-2018 | 31-12-2017 | 31-12-2018 | 31-12-2017 | 31-12-2018 | 31-12-2017 | 31-12-2018 | 31-12-2017 | 31-12-2018 | |
| Tangible assets | 257 | 58 | 9 | 2 | 305 | 29 | 63 | 25 | 1,005 | 678 | 40 | 89 | 34 | 48 |
| Intangible assets | 599 | 481 | 402 | 369 | 4 | 3 | 6 | 4 | 361 | 420 | 1,790 | 1,802 | 5 | 140 |
| Other non-current assets | 50 | 35 | 15 | 21 | 23 | 15 | - | - | 37 | 361 | 76 | 65 | 8 | 22 |
| Current assets | 3,606 | 4,801 | 464 | 670 | 1,042 | 1,688 | 235 | 900 | 4,146 | 9,018 | 1,440 | 1,941 | 2,215 | 2,486 |
| of which cash | 297 | 458 | 130 | 61 | - | 193 | 51 | 213 | 430 | 4,676 | 284 | 468 | 383 | 749 |
| Total assets | 4,512 | 5,375 | 890 | 1,062 | 1,374 | 1,735 | 304 | 929 | 5,549 | 10,477 | 3,346 | 3,897 | 2,262 | 2,696 |
| Equity | 1,404 | 1,773 | 297 | 437 | 654 | 510 | (27) | (72) | 2,032 | 2,231 | 2,613 | 2,756 | 787 | 840 |
| Non-current liabilities | 131 | 110 | 81 | 81 | - | - | - | - | 18 | 1,253 | 100 | 194 | - | - |
| Of which financial debt | - | - | - | - | - | - | - | - | 18 | 1,253 | - | - | - | - |
| Current liabilities | 2,977 | 3,492 | 512 | 544 | 720 | 1,225 | 331 | 1 001 | 3,499 | 6,993 | 633 | 947 | 1,475 | 1,856 |
| of which financial debt | 130 | 560 | 60 | 90 | 70 | 307 | 50 | 530 | 231 | 11 | - | - | 366 | - |
| Total liabilities and equity | 4,512 | 5,375 | 890 | 1,062 | 1,374 | 1,735 | 304 | 929 | 5,549 | 10,477 | 3,346 | 3,897 | 2,262 | 2,696 |
¹ Unaudited figures
² The results of Etronika UAB and NRD UAB are included into results of NRD Companies
³ Results of both Andmevara AS and Andmevara SRL included