Invalda AB - Other information

Revenue of BAIP Group, UAB in the first quarter of 2014 increased by 16 percent

Vilnius, Lithuania, 2014-05-08 08:42 CEST (GLOBE NEWSWIRE) -- INVL Technology,
AB which was split-off from Invalda LT on 29 April 2014, owns 80% of BAIP Group
shares. 

In the first quarter of 2014 consolidated revenue of BAIP group according to
unaudited data increased by 16 percent as compared to the same period last year
and amounted to LTL 10.122 million (EUR 2.93 million). Meanwhile EBITDA
(earnings before interest, taxes, depreciation and amortization) increased by
82 percent and reached LTL 1.089 million (EUR 0.32 million). 

In Lithuania BAIP group companies in the first quarter of 2014 signed a
contract with State Tax Inspectorate under the Ministry of Finance of the
Republic of Lithuania for the creation of ITIS_EU module mini one-stop shop.
Furthermore, a hardware and software supply, installation and configuration
contract worth LTL 2.247 million (EUR 0.65 million) was signed and partially
implemented with the University of Vilnius, which together with the Lithuanian
and Belarusian partners is currently carrying out a project “Social, economic
development and promotion of entrepreneurship through the development of a
cross-border R&D and innovation network in the field of cloud computing”. Three
year computer equipment lease and workplace maintenance service agreement was
signed with Litgrid, AB, with a maximum value of the contract amounting to LTL
1.462 million (EUR 0.42 million). 

BAIP group cyber security competence centre NRD CS added new solutions for
responding to national malware outbreaks and child abuse content to its
technology portfolio. In addition, NRD CS joined the Council on CyberSecurity -
an independent, expert, not-for-profit organization based in Washington DC - as
a Provider Member, focused on competencies and supporting the work of the
Council. Cyber security technological capacity strengthening contract was
signed with Lithuanian Railways (Lietuvos Gelezinkeliai, AB). 

Supply and Implementation of an eRegistry System in Mauritius Project has
contributed to the positive first quarter results of the whole BAIP group. In
November, 2013 the first stage of the Project - modernization and optimization
of the RGD - was finished, and currently the second stage is being implemented
- the services are being made available online. The whole project (with 5 year
maintenance) is worth LTL 9.3 million (EUR 2.69 million). Additionally, LTL
0.437 million (EUR 0.13 million) contract was signed with Mauritius
Registrar-General's Department (RGD) for the expansion of the data centre,
warranty maintenance and business continuity services. 

In Burundi two contracts have been signed, and 3 BAIP group companies, led by
BAIP, are currently implementing Burundi Central Bank data centre
infrastructure modernisation and 5 year maintenance project, financed by the
World Bank and worth LTL 6.79 million (EUR 1.97 million). 

BAIP group will continue its business development in East Africa, where the
company is currently implementing a programme for young businesses and science
projects. BAIP group is looking for young perspective businesses that could be
connected to European information technology businesses, scientists and
mentors, seeking to finance them and invest in their development. 

In addition, BAIP group companies have signed a contract with Fredskorpset
Norway (FK) which will support and finance young employee exchange among BAIP
group companies in Norway and Tanzania.During 21 month period, implemented  in
three 7-month-long rounds, a total of 17 young professionals from Tanzania and
Europe will intern at NRD and NRD EA respectively. As a result of this
programme, up to 20 new IT jobs in East Africa will be created, BAIP group
operations in East Africa will receive local support and a cluster of new IT
services will be developed. The first round of exchange will take place from
the 11th of August, 2014 to the 10th of March, 2015. Total value of the project
is almost LTL 1.564 million (EUR 0.45 million). 


         The person authorized to provide additional information:
         Vytautas Plunksnis
         Investment Manager
         E-mail: Vytautas@InvaldaLT.com