INVL Technology - Interim information

Unaudited results of INVL Technology for 9 months of 2015

Vilnius, 2015-11-30 08:49 CET (GLOBE NEWSWIRE) -- INVL Technology, AB –
company, investing in IT businesses, listed on NASDAQ Vilnius stock exchange
(Nasdaq Vilnius: INC1L) from June 2014. The Company's financial assets measured
at fair value was EUR 12,136 thousand on the 30 September, 2015. Compared to
the 31 December, 2014, the fair value decreased by EUR 2,766 thousand (compared
to the fair value of the financial assets on the 31 December, 2014, acquired
during reorganisation which ended on the 9 February 2015). During the first
nine months of 2015 the Company had a net loss of EUR 2,440 thousand, which was
incurred mainly due to the aforementioned change in the fair value as well as
the interest expenses. During the first nine months of 2015, the Company
received EUR 598 thousands dividends from the managed companies, and it did not
sell any of the companies, except for Acena UAB which was transferred to the
subsidiary BAIP UAB. 

The Company performs independent appraisal annually while preparing annual
financial statements. During preparation of interim condensed financial
statements, the Company measures fair value of investments either using EBITDA
multiple, using historical EBITDA of last 12 months and multiples of comparable
entities, either acquisition cost if the transaction occurred recently. Acena
UAB and ETRONIKA UAB were stated at acquisition cost due to the recent
transactions. Value of ETRONIKA UAB is not reflected in the value growth of NRD
group companies. 

The Company is as an investment entity, which was created on 9 February 2015
after INVL Technology AB was merged into BAIP grupė AB. BAIP grupė AB took over
all the rights and obligations and continues operations under the new name –
INVL Technology AB. As the Company continues activities, which allow the
Company to comply with requirements of IFRS 10, applicable to investment
entity, the Company's investments are accounted for at fair value and are not
consolidated, the comparative figures are provided of the former INVL
Technology AB that was merged to BAIP grupė, AB. 


         The person authorized to provide additional information:
         Kazimieras Tonkūnas
         Director
         E-mail: K.Tonkunas@invltechnology.lt

Viðhengi:

AB INVL Technology IFRS 2015 Q3 EN_FINAL.PDF

Confirmation of responsible persons.pdf