2014-08-26 07:37:27 CEST

2014-08-26 07:38:26 CEST


REGULATED INFORMATION

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INVL Technology - Interim information

Unaudited results of INVL Technology for 6 months of 2014 


Vilnius, Lithuania, 2014-08-26 07:37 CEST (GLOBE NEWSWIRE) -- Unaudited net
profit of INVL Technology amounted to LTL 2.747 million (EUR 0.796 million). 

The financial statements cover the first interim financial period of the
company, starting from the company's establishment date 29 April 2014 and
ending on 30 June 2014, therefore there are no comparative data. 

Additional information:
The equity of INVL Technology, AB, which invests into information technology
companies, amounted to LTL 19.854 million (EUR 5.75 million) or LTL 33.5 (EUR
9.7) per share at the end of June 2014. 

The results of INVL Technology presents only the first two months of activity,
as the company started to operate in the market at the end of April 2014, after
the split-off from Invalda LT, AB an asset management company. During this
period INVL Technology, AB earned LTL 2.747 million (EUR 0,796 million) net
profit, which was mainly influenced by the value growth of BAIP group. INVL
Technology holds 80 percent shares in BAIP group, a company investing in
information technology companies. 

“The BAIP group managed to significantly increase its results both in Lithuania
and foreign markets, therefore we are expecting that historically 2014 will be
the best year for BAIP group. The change in value was influenced by the last
twelve months increase in earnings before interests, taxes, depreciation and
amortization (EBITDA).” - Darius Sulnis, the director of INVL Technology, AB
said. 

As it was announced earlier, consolidated revenue of BAIP group in the first
half of 2014 compared to the same period in 2013 increased 30 percent and
amounted to LTL 24.82 million (EUR 7.188 million) , EBITDA increased to 58
percent and totalled to LTL 2.257 million (EUR 0.654 million). 

INVL Technology is presented as an investment company, which does not
consolidate its subsidiaries and does not prepare consolidated financial
reports (according to tenth International Financial Reporting Standard). The
shares of BAIP group was evaluated according to EBITDA of  last twelve months
using the average multiplier of the Central and Eastern Europe technology
companies, which is equal to 7.6. 

The reason for the growth of the BAIP group's shares value is that the  EBITDA
of the last twelve months changed from LTL 4.462 million (EUR 1.292 million) in
March 2014 to LTL 5.111 million (EUR 1.48 million) in June 2014. 


         The person authorized to provide additional information:
         Darius Sulnis
         Director
         E-mail:Darius@InvaldaLT.com