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INVL Technology Investor Presentation 2021
2265_rns_2021-04-06_f4d5bf32-386c-4a45-affc-485382886bb9.pdf
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INL TECHNOLOGY
RESULTS OF 2020
INVL
INVL TECHNOLOGY KEY FIGURES
INL
STRUCTURE OF THE PORTFOLIO COMPANIES OF INVL TECHNOLOGY
4
I&NL
KEY FIGURES OF INVL TECHNOLOGY (THOUSAND EUR)
| INVL Technology | 31-12-2018 | 31-12-2019 | 31-12-2020 |
|---|---|---|---|
| NAV | 28,024,654 | 28,958,136 | 33,725,239 |
| NAV per share | 2.3018 | 2.3784 | 2.7700 |
| 12 months of 2019 | 12 months of 2019 | 12 months of 2020 | |
| Change in the fair value of financial assets | 3,421 | 1,279 | 6,740 |
| Dividends, interest and other incomes | 1,360 | 185 | 150 |
| Operating expenses | (533) | (531) | (2,123) |
| Net profit (loss) | 4,213 | 933 | 4,767 |
| 31-12-2018 | 31-12-2019 | 31-12-2020 | |
| Financial assets value | 24,229 | 25,912 | 32,652 |
| Cash and Cash equivalents | 2,230 | 1,401 | 2,191 |
| Bonds | 1,252 | 920 | 408 |
| Loans | - | 808 | 151 |
| Other assets | 439 | 39 | 2 |
| TOTAL ASSETS | 28,150 | 29,080 | 35,404 |
| Other liabilities | 125 | 122 | 1,679 |
| Equity | 28,025 | 28,958 | 33,725 |
| TOTAL EQUITY AND LIABILITIES | 28,150 | 29,080 | 35,404 |
5
| INVL TECHNOLOGY FINANCIAL ASSETS (THOUSAND EUR) | |||
|---|---|---|---|
| COMPANIES | 31-12-2018 | 31-12-2019 | 31-12-2020 |
| NRD Companies (includes Etronika UAB, NRD Systems UAB, Norway Registers Development AS and others) | 5,458 | 5,511 | 7,144 |
| Novian¹ (includes Novian Technologies UAB, Novian Systems UAB², Andmevara Services OU, Andmevara AS, Andmevara SRL, Zissor AS) | 12,085 | 15,295 | 19,740 |
| NRD CS UAB | 6,455 | 4,880 | 5,535 |
| „FINtime“ UAB | 231 | 226 | 233 |
| TOTAL | 24,229 | 25,912 | 32,652 |
| CHANGE IN FAIR VALUE OF FINANCIAL ASSETS, THOUS. EUR | 31-12-2020 | ||
| Opening balance (2019-12-31) | 25,912 | ||
| Revaluation | 6,740 | ||
| Opening balance (2020-12-31) | 32,652 | ||
| ¹In 2019, the Novian Group was completed. In addition to UAB Novian, UAB Novian Technologies (former name UAB BAIP) and UAB Acena, in 2019 this group included UAB Novian systems (former name UAB Algoritmy, sistemas) and Andmevara group of companies, owned directly by INVL Technology, as well as the newly acquired Zissor AS. The comparative value of Novian on 31.12.2018 has been calculated by summing the individual Novian on 31.12.2018 (includes UAB Novian, UAB BAIP and UAB Acena), UAB Algoritmy, sistemas and Andmevara (includes Andmevara AS, Andmevara SRL and Andmevara Services OU). | |||
| ² Acena, UAB has been merged into Novian Systems and ceased its operations at the end of 2020. |
INN
REVENUE OF INVL TECHNOLOGY FOR BY COUNTRY (THOUSAND EUR)
REVENUE OF INVL TECHNOLOGY OF 2019 BY COUNTRY
Lithuania
Norway
Tanzania
Kyrgyzstan
Estonia
Bangladesh
Sweden
Moldova
Rwamda
Burkina Faso
The United Kingdom
Latvia
The Cayman Islands
Others (36 countries)
REVENUE OF INVL TECHNOLOGY OF 2020 BY COUNTRY
Lithuania
Norway
Estonia
Zanzibar
The United Kingdom
Burundi
Rwanda
Barbados
Mauritius
Latvia
Kyrgyzstan
Botswana
Finland
Others (41 countries)
| TÜKST, EUR | 2019 | 2020, | Change |
|---|---|---|---|
| Lithuania | 19,477 | 22,615 | 3,138 |
| Others | 15,052 | 14,019 | (1,033) |
| Total | 34,529 | 36,634 | 2,105 |
INN
AGGREGATED REVENUE OF INVL TECHNOLOGY PORTFOLIO COMPANIES
AGGREGATED REVENUE OF INVL TECHNOLOGY PORTFOLIO COMPANIES (THOUS.EUR)
AGGREGATED EBITDA OF INVL TECHNOLOGY PORTFOLIO COMPANIES (THOUS.EUR)
| (THOUS.EUR) | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Revenue | 23,125 | 27,751 | 32,723 | 34,529 | 36,634 |
| Gross profit* | NA | NA | 9,935 | 9,349 | 10,246 |
| EBITDA** | 857 | 1,974 | 2,152 | 2,181 | 2,988 |
| EBIT | 273 | 1,395 | 1,591 | 949 | 1,641 |
| Net profit (loss)*** | (52) | 1,237 | 1,120 | 493 | 1,097 |
*From 2018 the methodology for calculating gross profit has been changed: by including direct labor costs in the cost. Until 2018, the information was not collected in this section, therefore, due to the lack of comparable data, the data for 2016 - 2017 are not provided.
**From 2019 IFRS 16 was adopted, which affected the amount of EBITDA, therefore the EBITDA for the periods 2016-2018 and 2019-2020 is not directly comparable.
*** - Net profit (loss) is presented after elimination of dividend income and elimination of one-off and atypical impairments of investments in subsidiaries recognized in standalone company reports.
INN
REVENUE OF THE MANAGED COMPANIES DISTRIBUTION
IN LITHUANIA AND ABROAD (THOUSAND EUR)
Total : 142 582
Total : 79 975
Total : 36 634
Total : 16 700
2014
Total : 24 668
2015
Total : 23 125
2016
Total : 27 751
2017
Total : 32 723
2018
Total : 34 529
2019
INVL
PROJECT GEOGRAPHY OF INVL TECHNOLOGY'S BUSINESSES
In 2020, INVL Technology companies carried out projects in 54 countries.
New countries: Portugal, Serbia, Anguilla, Afghanistan, Saint Lucia, Senegal.
INL
MANAGED COMPANIES RESULTS OF 2020
NRD Companies 2020 results.
11
NRD Companies
NRD Companies is a global information technology and consulting group of companies, specializing in the governance and development of the economic digital infrastructure for Governments, Registries, Tax Administrations, Financial Institutions, Retailers and National Postal Services.
Headquartered in Norway, serve customers from Norway, Lithuania, Bangladesh, Rwanda, Uganda and Tanzania.
The Group employs more than 110 professionals and is controlled by INVL Technology UTIB.
Bangladesh
COMPANIES STRUCTURE
NRD Companies
Headquarters in
Oslo, Norway
| NRD Systems UAB
VILNIUS, LITHUANIA | 95,91% | 99% | NRD Bangladesh Ltd
DHAKA, BANGLADESH |
| --- | --- | --- | --- |
| ETRONIKA UAB
VILNIUS, LITHUANIA | 90% | 100% | Norway Registers Development
Rwanda Ltd
KIGALI, RWANDA |
| Norway Registers Development AS
OSLO, NORWAY | 100% | 70% | Norway Registers Development East
Africa Ltd
DAR ES SALAAM, TANZANIA |
| Norway Registers Development AS
Lithuanian branch
VILNIUS, LITHUANIA | | 30% | Infobank Uganda Ltd
KAMPALA, UGANDA |
Strategic Focus Areas for 2021
Accelerating technology innovations
Strengthening the global consultancy business line
Expanding the sales geography
Scaling and profitability
Through retaining and growing our professional talent base and continuing to focus on developing industry leading solutions and system integration business streams.
Through expanding our subject competencies in National ID, Civil, Business Registries and Tax Administration.
Through continued partnerships with Global Governance Consultancy and the FinTech market leaders.
Accelerate business growth and efficiency gains through a unified Group approach to achieve and beat the expected industry Compound Annual Growth Rate (CAGR) of 7-14% over the next 5 years.
NRD Companies
Sustainability
We embrace the United Nations and World Bank Sustainability Initiatives through our contribution to:
- Enabling the business environment & job creation
- Increasing the efficiency of government services
- Facilitating financial inclusion and access to finances
- Supporting domestic resource mobilisation
- Improving the accessibility of social and business services
- Facilitating environmental sustainability
- Securing the digital environment
SUNRID Companies
Global Footprint
NRD Companies implement products and projects in more than 50 countries worldwide.
NRD Companies
Solutions and products
Consultancy
Doing Business Reforms, Public Sector Reforms, National ID, Digital ID, Civil Registration, Digital Banking, E-service delivery.
ETRONIKA UAB
VILNIUS, LITHUANIA
etronika
NRD Systems UAB
VILNIUS, LITHUANIA
NRD Companies
Norway Registers Development AS
OSLO, NORWAY
NRD Companies
NRD Bangladesh Ltd
DHAKA, BANGLADESH
NRD Companies
Norway Registers Development Rwanda Ltd
KIGALI, RWANDA
NRD Companies
Public Sector Solutions
BUSREG - internationally proven company / legal entity registration platform. The platform offers not only a fast solution to the customer, but it can also be easily adapted to the needs of different countries. It improves the accessibility and efficiency of services for businesses and investors.
GxP - Customer-centric public e-service delivery platform. The platform is a tool for governments to proactively support citizens and businesses with e-services throughout their customer. It addresses issues of inter-institutional integrity and allows institutions to independently provide e-services to citizens. GxP provides data-driven insights to transform public e-services in response to changing citizens' needs and patterns of behaviour
VFDMS - Virtual Fiscal Device Management System is a new generation online cash register management solution. It addresses the latest VAT tax collection challenges that Tax Authorities face and improves tax revenue collection and reduces informal economy with no burden to businesses.
Financial and Retail Solutions
DIGITAL LOANS - is a platform for SME and Retail loans used by banks and other financial services providers to increase their loan portfolio in a shorter time, keep the lending management and related costs under control and excel in their operational risk management.
Banktron – an award-winning secure and intuitive digital banking platform. It is easily integrated with the latest FinTech solutions.
KASU RETAIL – An omnichannel solution to manage and accelerate retail business.
Projects
Consultancy
- Senegal: Civil registration system (2019-2020) - done
- Guyana: E-public service delivery infrastructure assessment (2020-2021)
- Kenya: Collateral registry assessment and maintenance (2020-2021)
- Eastern Caribbean States: Unique ID infrastructure assessment (2020-2021) - done
- Samoa: Civil Registry and National ID infrastructure assessment (2020-2021)
- Uganda: Digital transformation plan for the creation of microfinancing (2020) - done
- Zanzibar: Consultancy services for a business registry system expansion (2020-2021)
- Palestine: Legal, Institutional, Business Process and ICT Assessment for Automated Business Registry System at the Ministry of National Economy in Palestine (2021) – in progress
Solutions implemented
- Zanzibar: VFD - Virtual fiscal device management system (2019-2021)
- Cayman Islands: E-registry system creations (2018-2021)
- Anguilla: BUSREG implementation (2020-2021).
- Barbados: GxP - Public e-service delivery platform implementation (2020-2021)
- Latvia: Digital banking platform for Baltic International Bank (2018-2020)
- Northern Macedonia eGovernment project in Northern Macedonia (2020 - 2021)
- Kyrgyzstan: Kyrgyz Post development and implementation (2018-2021)
- Lithuania:
- Insurance policies management system - Beesure (2019-2020)
- Implementation of Leasing processes using DIGITAL Loans at Siauliu Bank. (2020)
Support & maintenance services
- Uganda:
- BUSREG maintenance (2019-2020-2021)
- Investor e-registry system maintenance (2020-2021)
- Zanzibar:
- Civil registry support and maintenance (2020-2021)
- Business registry system maintenance (2020-2021)
- Lithuania:
- E-customs system maintenance (ongoing)
- National E-registry system maintenance services (finished)
- VAT collection system development works (new)
- Digital banking migration, implementation/changes related to Open banking and improvement of Retail loan origination platform for Luminor Bank (finished)
- Enhancement of Insurance startup platform to support different partnership scenarios for Beesure (2020)
- COVID-19 loan origination process for Siauliu Bank.
- LSAF-T Subsystem Implementation Services State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania
- Mauritius:
- BUSREG support and maintenance (2020-2021)
- E-registry system monitoring services (2020-2021)
- E-registry migration services (2021) – done
Subcontracting
- Kenya: Cyber security (2019-2021)
- Ecuador: Cyber security (2019-2021)
- Egypt: Cyber security (2019-2021)
- Bangladesh: Cyber security (2018-2021)
- New Caledonia: Cyber security (2020-2021)
- Bhutan: Advisory Support for the IT Audit of PFM Information Systems (2020-2021)
- Botswana: Technical assistance to SADC Secretariat for cybersecurity risk assessment and threat mitigation (2021)
Visibility & Recognition
NRD Companies
Webinars and Conferences
Hosted events
- April 29 Webinar hosted by ETRONIKA AND W.UP. "Reimagining Digital Banking During and After COVID-19"
- May 28 Webinar "Catalysing Local Economic Recovery"
- July 14 Webinar "How to Easily Climb Up in Business Rankings"
- July 21-22, Two-day webinar "Digital Identity Management System" for the Samoa Government, businesses and citizen communities
- August 27 "Single Unique OECS ID: what does it take?"
- September 17 "What does it take to introduce Digital ID in the country and what are the gains?"
Participated
- March 5-6 Prague. "LendingUP 2020" - sponsor, booth and speaker
- May 18-20 "E-Governance Conference" - virtual booth
- June 15-18 Conference "FinTech Week Lithuania" - virtual booth, speaker in a panel discussion and networking
- June 10 "FinTech Talents Virtual Spring 2020"
- August 5 "FinTech Junction Summer 2020" - virtual event, networking and pitches
- PARCEL+POST EXPO Virtual 'Live' Conference
Awards
National representatives for selecting the best solutions for the WORLD SUMMIT AWARDS WSA and awarded "Personal Income Tax Return Wizard" as
"THE BEST SOLUTION FOR THE COUNTRY" and
"THE FAVOURITE OF THE PUBLIC"
The competition was organised by the Information Society Development Committee together with the Communications Regulatory Authority of the Republic of Lithuania.
Financial Results
NRD Companies
NRD Companies aggregated income according countries (Thousand. EUR)
2019 Y AGGREGATED INCOME ACCORDING COUNTRIES
2020 Y. AGGREGATED INCOME ACCORDING COUNTRIES
| Thousand. EUR | 2019 Y. | 2020 Y. | Difference |
|---|---|---|---|
| Lithuania | 2 736 | 2 295 | (441) |
| Other countries | 4 859 | 6 352 | 1 493 |
| Total | 7 595 | 8 647 | 1 052 |
NRD Companies
NRD Companies key financial indicators
| Thousand, EUR | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Aggregated income | 6 809 | 8 172 | 7 918 | 7 595 | 8 647 |
| Aggregated EBITDA* | (42) | 565 | 448 | 171 | 613 |
- From 2019 IFRS 16 was adopted, which affected the amount of EBITDA, therefore the EBITDA for the periods 2016-2018 and 2019-2020 is not directly comparable.
NRD Companies
Key profit (loss) items (Thousand. EUR)²
| NRD Companies | ||||||||
|---|---|---|---|---|---|---|---|---|
| NRD AS³ | NRD Systems⁴ | Etronika⁵ | ||||||
| 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | |
| Revenue | 6,597 | 6,989 | 3,127 | 4,247 | 1,994 | 2,430 | 2,360 | 1,926 |
| Gross profit | 2,031 | 2,603 | 850 | 1,216 | 354 | 906 | 955 | 618 |
| EBITDA | 166 | 610 | 126 | 144 | (179) | 354 | 349 | 128 |
| EBIT | (68) | 332 | 121 | 136 | (273) | 247 | 253 | 3 |
| Net Profit (Loss) | (119) | 160 | 102 | 68 | (288) | 163 | 193 | (29) |
2 Unaudited consolidated results of NRD Companies are presented.
3 The results of Etronika UAB and NRD Systems UAB and NRD AS are included into results of NRD Companies. The audit of standalone financial statements of these entities are in progress
NRD Companies
Key profit (loss) items (Thousand. EUR)²
| "NRD Companies" | ||||||||
|---|---|---|---|---|---|---|---|---|
| NRD AS³ | NRD Systems³ | Etronika³ | ||||||
| 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | |
| Tangible assets | 434 | 259 | 14 | 9 | 246 | 142 | 171 | 106 |
| Intangible assets | 370 | 220 | 15 | 14 | 2 | 1 | 281 | 171 |
| Other non-current assets | 77 | 343 | - | 307 | 57 | 14 | 21 | 23 |
| Current assets | 5,079 | 6,305 | 3,057 | 4,107 | 1,244 | 2,087 | 1,396 | 1,175 |
| of which cash | 478 | 939 | 65 | 67 | 273 | 545 | 107 | 218 |
| Total assets | 5,960 | 7,127 | 3,086 | 4,437 | 1,549 | 2,244 | 1,869 | 1,475 |
| Equity | 1,417 | 1,646 | 682 | 701 | 217 | 380 | 628 | 602 |
| Non-current liabilities | 460 | 558 | - | - | 135 | 215 | 314 | 338 |
| Of which financial debt | 395 | 277 | - | - | 135 | 215 | 260 | 62 |
| Current liabilities | 4,083 | 4,923 | 2,404 | 3,736 | 1,197 | 1,649 | 927 | 535 |
| of which financial debt | 1,288 | 782 | 676 | 490 | 359 | 244 | 362 | 48 |
| Total liabilities and equity | 5,960 | 7,127 | 3,086 | 4,437 | 1,549 | 2,244 | 1,869 | 1,475 |
2 Unaudited consolidated results of NRD Companies are presented.
3 The results of Etronika UAB and NRD Systems UAB and NRD AS are included into results of NRD Companies. The audit of standalone financial statements of these entities are in progress
NRD Companies
NRD Companies income according business sectors and countries of operation
Business sectors 2018
Business sectors 2019
Business sectors 2020
■ Registers (business, civil)
■ Government
■ Tax administration
■ Finance
■ Retail
COUNTRIES OF OPERATION
Revenue in the area of national tax administration systems, civil and business registers have grown significantly over the last three years. The geography of projects has expanded.
NRD Companies
NOVIAN
Novian group's results for 2020
www.novian.io
The Novian group combined its capabilities in 2020
NOVIAN
Novian companies act in 3 areas
NOVIAN
- NOVIAN | Systems
- Andmevara AS
-
Tallinn, Estonia
-
NOVIAN | Technologies
- Andmevara Services OÜ
- Tallinn, Estonia
- Andmevara SRL
-
Chișinău, Moldova
-
Zissor
a Novian company - Drammen, Norway
Novian group is strengthening its international presence and increasing value for its clients by offering integrated services.
For that purpose, Novian has refined its operational competencies – the group’s companies operate in three areas.
The market is also being offered integrated services under the shared name of Novian:
At the end of 2020, BAIP became Novian Technologies and Algoritmų Sistemos – Novian Systems.
Acena, a provider of business analytics and process automation solutions, was merged into Novian Systems.
NOVIAN
32
Focus on regional markets and technological advances
Main directions of the Novian group:
- Expand the geography of the activities of the group’s companies giving priority to the Baltic and Nordic markets.
- Increase the companies’ competencies in the areas of high-performance computing devices, digital transformation, big data and artificial intelligence.
NOVIAN
33
Services and solutions integrated for unique needs
34
Business
- Organization's need for digitalization
- The Novian approach
- Fast implementation combining the Novian companies' experience, capacity and services.
Public sector
- Digital needs analysis
- 2
- 3
Clients benefit from over 80 solutions and services
NOVIAN
35
NOVIAN
Key events in 2020
Key events
- In February 2020, through an internal transaction, Algoritmu Sistemos acquired the business analytics and process automation solutions company Acena from BAIP. The transaction strengthened the systems development area within the Novian group.
- Since 28 September 2020, Evaldas Rėkus has been the CEO of Novian. He replaced Artūras Zdanavičius who had been acting CEO since 1 August 2020 in place of the company’s previous head Giedrius Cvilikas.
- As digital transformation gains momentum, the Novian group aims to strengthen its positions internationally and increase value for clients by offering integrated services. For that purpose, Novian’s main companies, BAIP and Algoritmu Sistemos, changed their names and as of 8 December 2020 began operating as Novian Technologies and Novian Systems respectively.
- In December 2020, the new Novian group website www.novian.io was launched.
- Novian has strengthened its information systems development company Novian Systems. Following the merger of Acena, a provider of business analytics and process automation solutions, into Novian Systems at the end of 2020, Novian Systems offers a broader range of software services.
NOVIAN
NOVIAN
38
A new Novian space on the web: www.novian.io
NOVIAN
2020 financial results
Novian group companies' financial indicators (thousands of EUR)
| Novian4 | Technologies area | Software services area | Media monitoring and digitization area | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Novian Technologies UAB | Andmevara Services OU/ „Andmevara SRL“5 | Novian Systems UAB | Andmevara AS | Acena UAB6 | „Zissor AS“ | |||||||||
| 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | |
| Revenue | 23,492 | 24,113 | 17,072 | 18,223 | 673 | 651 | 2,759 | 2,824 | 1,023 | 789 | 1,257 | 915 | 708 | 711 |
| Gross Profit | 5,591 | 5,725 | 2,549 | 2,838 | 672 | 651 | 993 | 1,144 | 450 | 190 | 347 | 250 | 580 | 652 |
| EBITDA | 1,556 | 1,798 | 1,258 | 1,628 | 93 | 65 | 339 | 473 | (108) | (256) | (12) | (69) | 78 | 108 |
| EBIT | 755 | 1,006 | 684 | 1,066 | 76 | 49 | 234 | 348 | (171) | (318) | (18) | (74) | 43 | 88 |
| Net Profit (loss)7 | 385 | 580 | 462 | 761 | 41 | 30 | 190 | 297 | (229) | (374) | (20) | (74) | 34 | 68 |
4 The unaudited aggregated results of the Novian group are presented, which include the results of the companies and the results of Novian UAB. The audit of standalone financial statements of Novian Technologies UAB, Novian Systems UAB and Zissor AS is in progress.
5 Represents results of Andmevara Services OU and Andmevara SRL.
6 Acena UAB was merged into Novian Systems UAB on 31 December 2020. The Acena UAB merge has completed the liquidation procedures, and all the rights and obligations of Acena have been assumed by Novian Systems UAB, which will continue Acena UAB activities after the reorganization. The standalone financial statements of Acena UAB will not be prepared and published. The information in this report is presented separately for both companies in order to disclose the actual activities of the companies in 2020 and ensure comparability of data with 2019.
7 Adjusted net profit is represented after eliminating one-off impairments of investments in subsidiaries recognized in standalone reports of Novian Technologies UAB and Novian Systems UAB. In 2019 Novian Technologies UAB eliminated the impairment of Acena UAB EUR -117 thousand (additional deferred income tax income- EUR 18 thousand), Novian Systems UAB eliminated the impairment of Andmevara AS EUR -150 thousand (additional deferred income tax income - EUR 23 thousand). In 2020 Novian Systems UAB eliminated the impairment of Andmevara AS EUR-64 thousand (additional deferred income tax income EUR 10 thousand) and impairment of Acena UAB EUR -27 thousand (additional deferred income tax income of EUR 4 thousand). The aggregated net profit of the Novian group was adjusted accordingly.
NOVIAN
Novian group companies' financial indicators (thousands of EUR)
| Novian⁴ | Technologies area | Software services area | Media monitoring and digitization area | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Novian Technologies UAB | Andmevara Services OU / Andmevara SRL⁵ | Novian Systems UAB | Andmevara AS | Acena UAB⁶ | Zissor AS | |||||||||
| 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | |
| Tangible Assets | 1,251 | 1,008 | 897 | 611 | 12 | 19 | 296 | 228 | 34 | 138 | 9 | 7 | 1 | 3 |
| Intangible Assets | 1,861 | 1,840 | 65 | 62 | 4 | 3 | 1,768 | 1,773 | 2 | 1 | 1 | - | 20 | - |
| Other non-current assets | 681 | 454 | 812 | 287 | - | - | 177 | 386 | - | - | - | - | 132 | 104 |
| Current assets | 11,404 | 10,064 | 7,793 | 7,228 | 153 | 134 | 1,818 | 2,236 | 456 | 248 | 875 | 292 | 273 | 426 |
| Of which cash | 3,540 | 2,242 | 2,016 | 1,221 | 29 | 37 | 595 | 377 | 218 | 21 | 596 | 119 | 70 | 274 |
| Total assets | 15,197 | 13,366 | 9,567 | 8,188 | 169 | 156 | 4,059 | 4,623 | 492 | 387 | 885 | 299 | 426 | 533 |
| Equity | 5,122 | 5,693 | 2,591 | 3,352 | (47) | (19) | 2,745 | 2,964 | (218) | (592) | 139 | 65 | 318 | 365 |
| Non-current liabilities | 687 | 730 | 336 | 154 | - | - | 351 | 450 | - | 86 | - | - | - | 40 |
| of which financial debt | 483 | 360 | 328 | 147 | - | - | 155 | 87 | - | 86 | - | - | - | 40 |
| Current liabilities | 9,388 | 6,943 | 6,640 | 4,682 | 216 | 175 | 963 | 1,209 | 710 | 893 | 746 | 234 | 108 | 128 |
| Of which financial debt | 1,746 | 1,042 | 1,205 | 209 | 130 | 50 | 66 | 495 | 345 | 729 | - | - | - | - |
| Total liabilities and equity | 15,197 | 13,366 | 9,567 | 8,188 | 169 | 156 | 4,059 | 4,623 | 492 | 387 | 885 | 299 | 426 | 533 |
⁴ The unaudited aggregated results of the Novian group are presented, which include the results of the companies and the results of Novian UAB. The value of investments in subsidiaries was eliminated by aggregating balance sheet items. The audit of standalone financial statements of Novian Technologies UAB, Novian Systems UAB and Zissor AS is in progress.
⁵ Represents results of Andmevara Services OU and Andmevara SRL.
⁶ Acena UAB was merged into Novian Systems UAB on 31 December 2020. The Acena UAB merge has completed the liquidation procedures, and all the rights and obligations of Acena have been assumed by Novian Systems UAB, which will continue Acena UAB activities after the reorganization. The standalone financial statements of Acena UAB will not be prepared and published. The information in this report is presented separately for both companies in order to disclose the actual activities of the companies in 2020 and ensure comparability of data with 2019.
NOVIAN
Novian group main financial indicators (thousands of EUR)
| Thousands of EUR | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Revenue | 14,555 | 15,776 | 20,317 | 23,492 | 24,113 |
| EBITDA* | 774 | 791 | 1,138 | 1,556 | 1,798 |
- The Novian group's revenue and EBITDA mainly grew organically. In the 2016-2020 period there was an additional acquisition of the company Zissor, whose impact is not material (annual revenue of approx. EUR 700,000).
- Most of the Novian group's growth is due to the recent more successful development of Novian Technologies. Strong attention is being given to Novian Systems' area of operations as well, which it is hoped will also start to demonstrate stable growth in coming periods.
- The activities of Novian Technologies are diversified between the public and private sector, while most of Novian Systems' activities are concentrated in the public sector.
NOVIAN
- IFRS 16 was implemented in 2019 with an impact on the size of EBITDA, thus the EBITDA indicators for 2016-2018 and 2019-2020 are not directly comparable.
Revenue of Novian group by country (thousands of EUR)
| Thousands of EUR | 2019 | 2020 | Change |
|---|---|---|---|
| Lithuania | 14,330 | 17,186 | 2,856 |
| Other countries | 9,162 | 6,927 | (2,235) |
| Total | 23,492 | 24,113 | 621 |
NOVIAN
Revenue of Novian group according to the sectors. Number of the countries
Revenue of Novian group according to the sectors
Novian group: countries of operations
Over the last three years, the Novian group's earnings in the financial and private sectors have grown.
In 2020, revenues in the private and financial sectors made up 56% of all the Novian group's revenues.
NOVIAN
The geography of Novian's companies and projects
Offices operate in 5 countries
The companies' projects in 2016-2020 took place in 50 countries
NOVIAN
NOVIAN
Technologies business area
Novian Technologies (Lithuania), Andmevara Services OU (Estonia) and Andmevara SRL (Moldova)
Technologies business area
Solutions and services:
- Critical IT infrastructure design, deployment and maintenance
- Critical IT infrastructure maintenance managed services
- Cloud computing strategy and transformation implementation
- Data storage, recovery and archiving solutions
- Modern digital workplace strategy and implementation
- Supply-chain and infrastructure lifecycle management
Industries where active:
- Finance and insurance
- Wholesale and retail trade
- Logistics and warehousing
- ITT
- Energy
- Manufacturing
- Public sector
- Scientific institutions
Technologies and methodologies:
- Methodologies: CIMF v.3, Migritis
- Technology partners:
- Dell EMC, NVIDIA, Lenovo, IBM, Cisco, Zabbix, Prometheus, Oracle
- Microsoft Azure, Google Cloud, RedHat Openshift
- Commvault, Veritas, Quantum
- Mobile Iron, Solarwinds, Kyocera.
NOVIAN
Technologies business area*: key income statement and balance sheet items (thousands of EUR)
| Novian Technologies UAB | Andmevara Services OU / Andmevara SRL** | |||
|---|---|---|---|---|
| 2019 | 2020 | 2019 | 2020 | |
| Revenue | 17,072 | 18,223 | 673 | 651 |
| Gross profit | 2,549 | 2,838 | 672 | 651 |
| EBITDA | 1,258 | 1,628 | 93 | 65 |
| EBIT | 684 | 1,066 | 76 | 49 |
| Net profit (loss)7 | 462 | 761 | 41 | 30 |
| Novian Technologies UAB | Andmevara Services OU / Andmevara SRL** | |||
| 2019 | 2020 | 2019 | 2020 | |
| Tangible Assets | 897 | 611 | 12 | 19 |
| Intangible Assets | 65 | 62 | 4 | 3 |
| Other non-current assets | 812 | 287 | - | - |
| Current assets | 7,793 | 7,228 | 153 | 134 |
| Of which cash | 2,016 | 1,221 | 29 | 37 |
| Total assets | 9,567 | 8,188 | 169 | 156 |
| Equity | 2,591 | 3,352 | (47) | (19) |
| Non-current liabilities | 336 | 154 | - | - |
| Of which financial debt | 328 | 147 | - | - |
| Current liabilities | 6,640 | 4,682 | 216 | 175 |
| Of which financial debt | 1,205 | 209 | 130 | 50 |
| Total liabilities and equity | 9,567 | 8,188 | 169 | 156 |
Includes Novian Technologies (Lithuania), Andmevara Services OU (Estonia) and Andmevara SRL (Moldova).
*Includes the results of Andmevara Services OU and Andmevara SRL.
*** Adjusted net profit is represented after eliminating one-off impairment of investment in subsidiaries. Impairment of UAB Acena EUR -117 thousand (additional deferred income tax income- EUR 18 thousand) is eliminated in 2019 Novian Technologies, UAB.
NOVIAN
Technologies business area: main financial indicators (thousands of EUR)
| Thousands of EUR | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Revenue | 9,736 | 10,065 | 14,111 | 17,745 | 18,874 |
| EBITDA* | 341 | 730 | 839 | 1,351 | 1,693 |
Novian Technologies business area shows stable growth due to its ability to operate in Lithuanian and foreign markets, allowing it to choose the most favorable operating scenario based on market conditions.
NOVIAN
*IFRS 16 was implemented in 2019 with an impact on the size of EBITDA, thus the EBITDA indicators for 2016-2018 and 2019-2020 are not directly comparable.
Technologies business area: revenue by country (thousands of EUR)
| Thousands of EUR | 2019 | 2020 | Change |
|---|---|---|---|
| Lithuania | 10,447 | 13,561 | 3,114 |
| Other countries | 7,298 | 5,313 | (1,985) |
| Total | 17,745 | 18,874 | 1,129 |
NOVIAN
Technologies business area: revenue according to the sectors. Number of the countries
Revenue according to the sectors
Over the last three years, the companies of Novian technologies business area have significantly increased revenues in the private and financial sectors.
NOVIAN
Main projects in 2020
KORFA
Luminor
RAHVUSARHIV
kypk
| Project | Vilnius University High-Performance Computing Cluster | Maintenance and servicing of critical IT infrastructure and workstations | Supply, installation and maintenance of “netKiosk” infoterminals | Project to digitize archive materials | Creation of the IT infrastructure for GovCloud services |
|---|---|---|---|---|---|
| Work performed | Equipment chosen, 2-level data-storage solution designed, software module for service management, self-service and connection installed. Business plan prepared. | Maintenance of IT infrastructure taken over from in-house unit, maintenance and administration tools deployed and CIMF method-ology put in place. Following an audit, changes to IT infrastructure were implemented. | Custom infoterminal solution developed for the bank, taking care of supply, installation and maintenance; 69 „netKiosk“ self-service terminals operate in Lithuania, Latvia and Estonia. | Approximately 1.8 million archive documents related to the establishment and reestablishment of Estonian statehood were digitized and public access to the documents was provided. | Oracle virtualization and integration of a monitoring and backup solution for IT systems. |
| Benefits | Overall computing performance of the cluster increases by a factor of 12. Speed at which computational and storage resources exchange information doubles. The solution will allow VU to participate in EuroHPC and similar projects. | More efficient use of resources and security of IT systems ensured. | The bank's customers can obtain services quickly and conveniently. The bank is using its resources more efficiently. | Improved access to Estonia's information and cultural heritage is one more step in the development of the electronic services of the National Archive. | Deployment and integration of the government cloud. Consolidation of equipment permits easy maintenance and efficient resource use. |
NOVIAN
NOVIAN
Software services business area
Novian Systems (Lithuania), Andmevara AS (Estonia)
Software services business area
Solutions and services:
- Development and maintenance of information systems
- Information systems integration
- Business process digitization
- Performance analytics solutions
- Robotic process automation
- Big data
- Consulting
Industries where active:
- E-governance
- E-tax
- Regulatory institutions
- E-health
- Environmental protection
- Smart cities
- Corporations
- Scientific institutions
Technologies:
- Programming in Oracle/Java and Microsoft.NET
- Low-code solutions with Microsoft Power Apps
- Process robotization
- Big data and performance analytics, artificial intelligence
NOVIAN
Software services business area*: key income statement and balance sheet items (thousands of EUR)
| Novian Systems UAB | Andmevara AS | Acena UAB** | ||||
|---|---|---|---|---|---|---|
| 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | |
| Revenue | 2,759 | 2,824 | 1,023 | 789 | 1,257 | 915 |
| Gross profit | 993 | 1,144 | 450 | 190 | 347 | 250 |
| EBITDA | 339 | 473 | (108) | (256) | (12) | (69) |
| EBIT | 234 | 348 | (171) | (318) | (18) | (74) |
| Net profit (loss)*** | 190 | 297 | (229) | (374) | (20) | (74) |
| Novian Systems UAB | Andmevara AS | Acena UAB** | ||||
| 2019 | 2020 | 2019 | 2020 | 2019 | 2020 | |
| Tangible assets | 296 | 228 | 34 | 138 | 9 | 7 |
| Intangible assets | 1,768 | 1,773 | 2 | 1 | 1 | - |
| Other non-current assets | 177 | 386 | - | - | - | - |
| Current assets | 1,818 | 2,236 | 456 | 248 | 875 | 292 |
| Of which cash | 595 | 377 | 218 | 21 | 596 | 119 |
| Total assets | 4,059 | 4,623 | 492 | 387 | 885 | 299 |
| Equity | 2,745 | 2,964 | (218) | (592) | 139 | 65 |
| Non-current liabilities | 351 | 450 | - | 86 | - | - |
| Of which financial debt | 155 | 87 | - | 86 | - | - |
| Current liabilities | 963 | 1,209 | 710 | 893 | 746 | 234 |
| Of which financial debt | 66 | 495 | 345 | 729 | - | - |
| Total liabilities and equity | 4,059 | 4,623 | 492 | 387 | 885 | 299 |
Includes Novian Systems (Lithuania), Andmevara AS (Estonia), Acena (Lithuania).
*Acena UAB was merged into Novian Systems UAB on 31 December 2020. The Acena UAB merge has completed the liquidation procedures, and all the rights and obligations of Acena have been assumed by Novian Systems UAB, which will continue Acena UAB activities after the reorganization. The standalone financial statements of Acena UAB will not be prepared and published. The information in this report is presented separately for both companies in order to disclose the actual activities of the companies in 2020 and ensure comparability of data with 2019.
*** Adjusted net profit is represented after eliminating one-off impairments of investments in subsidiaries recognized in standalone reports of Novian Systems, UAB. In 2019 Novian Systems, UAB eliminated impairment of Andmevara AS EUR -150 thousand (additional deferred income tax income - EUR 23 thousand). In 2020 eliminated the impairment of Andmevara AS EUR-64 thousand (additional deferred income tax income EUR 10 thousand) and impairment of Acena,UAB EUR -27 thousand (additional deferred income tax income of EUR 4 thousand).
NOVIAN
Software services business area: main financial indicators (thousands of EUR)
| Thousands of EUR | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Revenue | 4,819 | 5,711 | 6,206 | 5,037 | 4,528 |
| EBITDA* | 435 | 103 | 392 | 219 | 149 |
The area's main company, Novian Systems, is operating stably (CAGR 2016-2020: revenue $6.3\%$ , EBITDA $2.4\%$ ), through the group's revenue has been negatively affected by a significant reduction in the revenue of Acena UAB in 2019-2020. The drop in EBITDA was mainly due to a loss-making project at Andmevara AS and Acena's negative operating results for 2019-2020.
NOVIAN
- IFRS 16 was implemented in 2019 with an impact on the size of EBITDA, thus the EBITDA indicators for 2016-2018 and 2019-2020 are not directly comparable.
Software services business area: revenue by country (thousands of EUR)
| Thousands of EUR | 2019 | 2020 | Change |
|---|---|---|---|
| Lithuania | 3,883 | 3,606 | (277) |
| Other countries | 1,154 | 922 | (232) |
| Total | 5,037 | 4,528 | (509) |
NOVIAN
Software services business area: revenue according to the sectors. Number of the countries
NOVIAN
Main projects in 2020
| Project | DEVELOPMENT AND DEPLOYMENT OF AN INTELLIMENT CONTROL PROCESS MANAGEMENT SUSYSTEM | INCENTIVE PERSONAL INCOME DECLARATION - WITHIN A FEW MINUTES | DEVELOPMENT OF SERVICES CONTROLLED BY LITHUANIAN SPEECH - LIEPA 2 | DIGITALIZATION OF THE 2021 LITHUANIAN POPULATION AND HOUSING CENSUS | E-PRESCRIPTIONS WILL ALLOW MEDICINES TO BE OBTAINED IN ALL EUROPEAN UNION COUNTRIES |
|---|---|---|---|---|---|
| DEVELOPMENT AND DEPLOYMENT OF AN INTELLIMENT CONTROL PROCESS MANAGEMENT SUSYSTEM | INCENTIVE PERSONAL INCOME DECLARATION - WITHIN A FEW MINUTES | DEVELOPMENT OF A COMPREHENSIVE PERSONAL INCOME TAX INFORMATION SYSTEM (GYPAS) | ADAPTATION OF SPEECH RECOGNITION AND SYNTHESIS ENGINES AND/OR COMPONENTS OF THEM FOR MOBILE DEVICES - MOBILE PHONES, TABLETS, SMART WATCHES, AND A HUMANOID ROBOT. | SYSTEM CREATED ENabling THE POPULATION AND HOUSING CENSUS TO BE CARRIED OUT USING DATA FROM THE 19 MAIN NATIONAL REGISTERS AND INFORMATION SYSTEMS. | AN INFORMATION SYSTEM IS BEING DEVELOPED, INTEGRATED WITH THE ESPBI IS, TO ENABLE THE EXCHANGE OF E-PRESCRIPTIONS AND E-DOCUMENTS ON DISPENSING MEDICINAL PRODUCTS BETWEEN THE REPUBLIC OF LITHUANIA AND OTHER EUROPEAN UNION COUNTRIES. |
| Work performed | DEVELOPED AND DEPLOYED AN INTELLIMENT CONTROL PROCESS MANAGEMENT SUSYSTEM TO FACILITATE THE STATE TAX INSPECTORATE'S HR MANAGEMENT AND ENSURE USE OF THE MOST RECENTLY OBTAINED DATA FOR THE CONTROL OF TAX CALCULATIONS AND PAYMENTS. | DEVELOPMENT OF A COMPREHENSIVE PERSONAL INCOME TAX INFORMATION SYSTEM (GYPAS) | ADAPTATION OF SPEECH RECOGNITION AND SYNTHESIS ENGINES AND/OR COMPONENTS OF THEM FOR MOBILE DEVICES - MOBILE PHONES, TABLETS, SMART WATCHES, AND A HUMANOID ROBOT. | SYSTEM CREATED ENabling THE POPULATION AND HOUSING CENSUS TO BE CARRIED OUT USING DATA FROM THE 19 MAIN NATIONAL REGISTERS AND INFORMATION SYSTEMS. | AN INFORMATION SYSTEM IS BEING DEVELOPED, INTEGRATED WITH THE ESPBI IS, TO ENABLE THE EXCHANGE OF E-PRESCRIPTIONS AND E-DOCUMENTS ON DISPENSING MEDICINAL PRODUCTS BETWEEN THE REPUBLIC OF LITHUANIA AND OTHER EUROPEAN UNION COUNTRIES. |
| Benefits | Allows the tax authority to move from classical control to tax collection based on operational information with ability to perform checks and react quickly. Enhances the prevention of tax violations and increases tax collection. | Simplified collection of personal income tax data, together with other updates, allows personal income tax returns to be submitted within minutes. | Increases accessibility of Lithuanian-language e-products and services by developing tools for Lithuanian speech-controlled services in a mobile setting (mobile phones, tablets, smart watches, robots). | To conduct the 2021 Lithuanian population census, 5 specialists will be enough. By comparison, the 2011 census was carried out by 6,000 interviewers. | Will increase access to better healthcare for EU citizens visiting Lithuania. Lithuanian citizens travelling through EU countries will be able to buy medicines according to an e-prescription. |
NOVIAN
NOVIAN
Media monitoring and digitization area
Zissor (Norway)
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Media monitoring and digitization area
Solutions and services:
- Media (press, online, broadcast, social networks) monitoring software
- Software to segment and digitize the contents of printed and/or scanned documents
- Media PDF file conversion to XML for other communication channels
Industries where active:
- Providers of media monitoring services
- Magazine and newspaper publishers
- National archives and libraries
Technologies:
Zissor intellectual products
Revenue of Zissor by country (thousands of EUR)
| Thousands of EUR | 2019 | 2020 | Change |
|---|---|---|---|
| Lithuania | - | 19 | 19 |
| Other countries | 708 | 692 | (16) |
| Total | 708 | 711 | 3 |
NOVIAN
Main projects in 2020
Magnolia Clipping & Broadcast Monitoring Service
MOTOR
Sykepleien
DH
| Project | Use of Zissor monitoring software by the U.S. company Magnolia Clipping & Broadcast Monitoring | Digitization of the Norwegian magazine “Motor” | Digitization of the Norwegian magazine “Sykepleien” | Conversion of the Danish weekly “Handelsblad” from PDF to XML |
|---|---|---|---|---|
| Work performed | Installed the Zissor Media System and an Oracle database. They went into operation a month later, after data conversion, testing and training. | Digitization of the Norwegian magazine “Motor” published from 1930 to 2020. Automated digitization was performed using the Zissor Content System, with scanning handled by Andmevara (Estonia). | Digitization of the Norwegian magazine “Sykepleien” issues published from 1912 to 2007. Automated digitization was performed using the Zissor Content System, with scanning handled by Andmevara (Estonia). | The weekly FTP upload of the publication is automatically digitized, separating images and text, for presentation as an article in XML format. All that is transferred to the e-solution and makes it easier to view articles. |
| Benefits | The largely manual process until now was replaced by an automated solution, leading to a significant increase in the volume and quality of information prepared. | The magazine’s entire history is available in image, PDF and XML formats, enabling inclusion on the magazine’s website in a way that is searchable and readable. | Issues of the magazine are available in image, PDF and XML formats, enabling their inclusion on the magazine’s website in a way that is searchable and readable. | The publication is easier to read on a computer, tablet or mobile phone, as articles are adapted to devices in terms of the formatting of text and images. |
NOVIAN
NRD Cyber Security
Let's cooperate on securing digital environment!
NRD Cyber Security establishes cybersecurity capacity building practices and enhances cyber resilience to nations and organizations.
The company specializes in the establishment and modernization of cybersecurity teams (CSIRTs) and security operations centers (SOCs) as well as cyber threat intelligence and managed security services.
NRDCS.LT
S
NRD Cyber Security
FOCUS
Cybersecurity operations build-out, incident detection and handling, establishment and support of Computer Security Incident Response Teams (CSIRTs) and cyber capacity enhancement at organizational and national levels
CUSTOMERS
Governments, public and private sector organizations
KEY MARKETS
- Central governments
- Critical infrastructure
- Enterprise security
- Intelligence and law enforcement
NRD Cyber Security
NRD CYBER SECURITY PORTFOLIO: ORGANIZATIONAL CYBERSECURITY
Comprehensive security check
- Security risk assessment
- Compliance assessment and assurance*
- Cybersecurity maturity assessment
- Cloud infrastructure security assessment
- Penetration and vulnerability assessment
- Business and IT continuity check
Implementation of Security Solutions
- Security software/hardware
- CSIRT/SOC stacks
- Fraud investigation and analytical platforms
- Implementation of ISMS based on ISO 27001
- Information and cyber security strategy, policies and procedures
CyberSOC managed security
- CISO advisory services
- Security incident analysis and threat hunting
- Network intrusion detection
- Log monitoring
- Vulnerability monitoring
- Compliance monitoring*
Training courses
- Cybersecurity essentials
- Information and cyber security risk management
- Open source intelligence
- Intelligence analysis
- Digital forensics
- Incident response
- Internal audit
Emergency security assistance
- Security incident handling
- Digital forensics services
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*We use CIS-CSC, NIST CSF, GDPR, ISO 27001, SOC-CMM, SIM3, COBIT, etc.
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NRD Cyber Security
NRD CYBER SECURITY PORTFOLIO: NATIONAL CYBERSECURITY
| Cybersecurity capacity building | · National, governmental and sectorial CSIRT/SOC establishment · National cybersecurity strategy and legislative framework development · Development of frameworks for Critical Information Infrastructure(CII) protection · National cybersecurity maturity capacity assessment |
|---|---|
| Technology solutions | · Sensors for national Critical Infrastructure (CI) · Intelligence automation and data modelling · Open Source Intelligence (OSINT) · Cyberlabs for digital forensics investigations |
| Training courses | · Governing cybersecurity at the national level: best practices and lessons learned |
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NRD CYBER SECURITY GUIDING PRINCIPLES
1
2
3
4
5
UNDERSTAND UNIQUE CLIENT NEEDS
We allocate time and resources to collect information, analyze and engage with our clients and the context in which our solution or services will be deployed.
OFFER EFFECTIVE SOLUTIONS
We are vendor-independent company which means that we can always offer you several alternative solutions, including open-source and tailor-made, to fit your particular situation.
BUILD SUSTAINABLE ORGANISATIONS
We are not interested in selling you another expensive box that no-one knows how to use. We transfer knowledge, train your team and provide continuous post-project support to create real long-term value to your organization.
BE RESEARCH DRIVEN
We contribute to global cybersecurity research, invest in our own research and development projects and disseminate this information to all our projects. We follow internationally accepted methodologies and standards.
USE LOCAL DEPLOYMENT TEAMS
When delivering projects around the globe, we are organized around special deployment teams that are headed by project leaders experienced in multicultural environments.
NRD CYBER SECURITY FINANCIAL REVIEW
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NRD Cyber Security
MAIN ITEMS OF THE INCOME STATEMENT
| UAB NRD CS | ||
|---|---|---|
| 2019 | 2020 | |
| Revenue | 2,836 | 3,229 |
| Gross profit | 1,345 | 1,519 |
| EBITDA | 341 | 434 |
| EBIT | 218 | 250 |
| Net Profit (Loss) | 232 | 321 |
MAIN BALANCE SHEET ITEMS
| UAB NRD CS | ||
|---|---|---|
| 2019 | 2020 | |
| Tangible assets | 292 | 181 |
| Intangible assets | 92 | 46 |
| Other non-current assets | 213 | 140 |
| Current assets | 1,156 | 2,079 |
| Of which cash | 465 | 654 |
| Total assets | 1,753 | 2,446 |
| Equity | 1,069 | 1,390 |
| Non-current liabilities | 101 | 57 |
| Of which financial debt | 101 | 57 |
| Current liabilities | 583 | 999 |
| Of which financial debt | 42 | 44 |
| Total liabilities and equity | 1,753 | 2,446 |
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8 The audit of the financial statements of NRD CS UAB are in progress.
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NRD Cyber Security
NRD CYBER SECURITY KEY FINANCIAL DATA
Revenue
EBITDA
| Thous. Eur | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|
| Revenue | 1,577 | 3,493 | 3,876 | 2,836 | 3,229 |
| EBITDA* | 110 | 603 | 559 | 341 | 434 |
- IFRS 16 was implemented in 2019 with an impact on the size of EBITDA, thus the EBITDA indicators for 2016-2018 and 2019-2020 are not directly comparable.
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NRD Cyber Security
NRD CYBER SECURITY REVENUE BY COUNTRY
| Thous. Eur | 2019 y. 12 months | 2020 y. 12 months | Change |
|---|---|---|---|
| Lithuania | 1,801 | 2,490 | 689 |
| Other countries | 1,035 | 739 | (296) |
| Total | 2,836 | 3,229 | 393 |
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NRD Cyber Security
NRD CYBER SECURITY REVENUE BY SECTOR AND NUMBER BY COUNTRIES
2018
2019
2020
NUMBER COUNTRIES OF OPERATION OF NRD CYBER SECURITY *
Over the past three years, NRD Cyber Security has been able to diversify its operations more, increasing the number of customers in the private sector. Revenues from financial sector customers have also increased over the past two years as more and more government and commercial banks decide to purchase the services and products provided by NRD Cyber Security (Cyber SOC, CSIRT services, own products). The significant increase in income from the academic sector during 2020 is associated with the ongoing project for the Lithuanian State University.
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*number of countries in which projects have been implemented.
NRD CYBER SECURITY PROJECTS
- CSIRT/SOC ESTABLISHMENT
- NATIONAL CYBER CAPACITY BUILDING
- ORGANIZATIONAL CYBER CAPACITY BUILDING
- TECHNOLOGY SOLUTIONS
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NRD Cyber Security
NRD CYBER SECURITY PROJECTS
CSIRT/SOC ESTABLISHMENT
NATIONAL CYBER CAPACITY BUILDING
TECHNOLOGY SOLUTIONS
- Egypt
Fin-CIRT set-up - Afghanistan
CERT maturity assessment -
Nigeria
Fin-CIRT set-up -
ENISA
Revising CSIRT/SOC establishment methodoly - Serbia
Cybersecurity ecosystem assessment -
European Investment Bank(EIB)
Development of cybersecurity project qualification methodology -
Cyprus
Cyber sensor technology - Egypt
CollectiveSight platform - Lithuania
Various Technological Solutions
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NRD Cyber Security
NRD CYBER SECURITY LONG-TERM GOALS
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NRD Cyber Security long term strategy is to increase shareholders value by transforming from consultancy and integration projects into recurring services and products delivery company for primary (Lithuanian, Western Europe including Nordic, African and Asian) and secondary (North and South Americas) markets
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Our current strengths are:
- Our capability to deliver winning proposals in regions with limited local cybersecurity capacity
- Strong presence in Lithuanian market, which fuels our R&D
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Capacity to align with strong international partnerships
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Our products in development are targeted at:
- Niche global markets (sectorial regulatory cybersecurity automatization)
- Enabling IT MSPs to handle SME’s needs for cybersecurity in effective way
- Mature CSIRT/SOC teams to automate their Cybersecurity Threat Intelligence needs
- Automating Intelligence operations (Open source collection and processing) needs
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INFORMATION ON THE INFLUENCE OF COVID-19 ON INVL TECHNOLOGY ACTIVITIES
The Company was not significantly affected by the COVID-19 virus pandemic. Due to the quarantine announced in Lithuania, which lasted from 16 March 2020 to 16 June 2020 and from 7 November 2020 (and still ongoing as at the date of the issuance and approval of these financial statements), Company's operations were not disrupted as the Company and the portfolio Companies can perform all the daily business operations remotely. The Company did not request or received any financial support due to the COVID-19 virus pandemic, as this was not relevant taking into account Company's operations. Considering the nature of activity it can be predicted that pandemic will not have a significant impact on the Company's results in the 2021 as well.
INL
IMPORTANT INFORMATION FOR CLOSED-END INVESTMENT COMPANY (UTIB) INVL TECHNOLOGY
-
Investments in the shares of closed-end investment companies (hereinafter may be referred as "CEF") are associated with investment risk and others risks specified in the Articles of Association and Prospectus of the closed-end investment company. The value of a company's shares can both rise and fall, and you may recover less than you invested or even lose the entire invested amount. Past results only show the changes in the value of a company's shares over a past period. Past results do not guarantee future performance.
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The information provided does not encompass all the information disclosed by the company and should be read together with the company's publicly announced financial and other information. The financial data provided should be evaluated together with the financial statements. The data presented reflect the situation for a past period of time and results for a past period are not a reliable indicator of future performance.
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The closed-end investment company and (or) the Management Company of the closed-end investment company does not guarantee the profitability of investments. The latest values of the shares of the closed-end investment company are available on the website www.invltechnology.com.
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Before making a decision to invest, you should personally or with the help of investment advisors assess the selected closed-end investment company's investment strategy, applicable fees and all investment-related risks. You should also carefully read closed-end investment company's Prospectus, Rules and Key Investor Information Document and other share distribution documents. These documents are available for review on the website www.invltechnology.com.
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All the information presented is of a promotional-informative nature and cannot be construed as a recommendation, offer or invitation to invest in the shares of the closed-end investment company. The closed-end investment company and (or) the Management Company of the closed-end investment company is not responsible for any decisions taken by third parties on the basis of information provided in this website alone and assumes no responsibility for expenses or direct or indirect losses experienced when using only this information. The information provided cannot be the basis for any subsequently concluded agreement. Although the content of this information of a promotional nature is based on sources considered to be reliable, the closed-end investment company and (or) the Management Company of the closed-end investment company is not responsible for inaccuracies or changes in the information, or for losses that may arise when investments are based on this information.
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The right of investors in the closed-end investment company to demand redemption of shares which they hold is restricted.
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INVL
THANK YOU
INVL TECHNOLOGY
Gynėjų st. 14, 01109
Vilnius, Lithuania
www.invltechnology.lt
[email protected]