INVL Technology - Notification on material event

Unaudited results of BAIP Group, UAB for 6 months of 2014

Vilnius, Lithuania, 2014-07-29 07:57 CEST (GLOBE NEWSWIRE) -- Public joint
stock company INVL Technology owns 80% in BAIP Group, a group of specialized
companies working in the field of IT and legal informatics. 

Compared to the first half of 2013, BAIP group consolidated revenue in the
first half of 2014 increased by 30 percent and reached LTL 24.82 million (EUR
7.188 million). In the same period last year it was LTL 19.101 million (EUR
5.532 million). EBITDA increased by 58 percent and reached LTL 2.257 million
(EUR 0.654 million EUR). In the same period last year EBITDA amounted to LTL
1.429 million (EUR 0.414 million). 

In the second quarter of 2014 consolidated revenue of BAIP group according to
preliminary data reached LTL 14.698 million (EUR 4.257 million) - 41 percent
increase, compared to the same period last year - LTL 10.409 million (EUR 3.015
million). BAIP group EBITDA (earnings before interest, taxes, depreciation and
amortization) also increased by 41 percent and reached LTL 1.168 million (EUR
0.338 million). In the same period last year EBITDA amounted to LTL 0.829
million (EUR 0.24 million). 


Additional information about important events of BAIP Group companies:

During the second quarter of 2014, BAIP group company BAIP together with joint
venture partners and Vilnius University signed an agreement for the Lithuanian
National Open Access Research Data Archive (MIDAS) hardware and software
delivery, implementation and user trainings. The new infrastructure will be
used for the promotion of research data exchange, distribution and
interdisciplinary collaboration in Lithuania and abroad. The contract is worth
LTL 5.653 million (EUR 1.637 million). 

BAIP has also signed a LTL 0.577 million (EUR 0.167 million) worth data centre
equipment purchase and installation contract with Litgrid, AB. The equipment
will provide a coordinated high reliability solution that will establish
organization's data computing, transfer and storage platforms. 

NRD, UAB signed a 36 month-long agreement with National Health Insurance Fund
under the Ministry of Health for software development and maintenance services
as well as  a contract with Lithuanian Central Mortgage Office for the
registers application for the adoption of euro. 

During the second quarter of 2014, BAIP group companies have been implementing
projects in Lithuania, Burundi, Mauritius and Viet Nam. In Lithuania and
Belarus BAIP implemented and configured a cloud computing infrastructure worth
LTL 1.857 million (EUR 0.538 million). BAIP also renewed magnetic tape
libraries at the Bank of Lithuania for LTL 1.451 million (EUR 0.42 million). 

Since May, NRD has implemented an integrated Management system which combines
quality, environment protection and information security aspects and complies
to the requirements of LST EN ISO 9001:2008, LST EN ISO 14001:2005 and LST
ISO/IEC 27001:2006 standards. 


         The person authorized to provide additional information:
         Kazimieras Tonkunas
         Director of BAIP Group
         e-mail K.Tonkunas@baipgroup.lt