2015-02-27 13:38:56 CET

2015-02-27 13:39:57 CET


REGULATED INFORMATION

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INVL Technology - Interim information

Unaudited results of INVL Technology for 12 months of 2014 


Vilnius, Lithuania, 2015-02-27 13:38 CET (GLOBE NEWSWIRE) -- Unaudited net
profit of INVL Technology amounted to LTL 5.1 million (EUR 1.47 million). 

The financial statements cover the interim financial period of the company,
starting from the company's establishment date 29 April 2014 and ending on 31
December 2014, therefore there are no comparative data. 

Additional information:
INVL Technology in the end of 2014 controlled 65.65 percent of shares of
joint-stock company BAIP Group investing in IT companies. In February 2015
merger process of joint-stock company INVL Technology and joint-stock company
BAIP Group was completed. Joint-stock company BAIP Group took over all the
rights and duties of INVL Technology and continues its operations under the
name of INVL Technology. 
Profit came from the growth in value of investment in BAIP group. In the end of
2014 100 percent of BAIP group shares were valued LTL 33.5 million (EUR 9.70
million) while controlled 65.65 percent of shares - LTL 24.5 million (EUR 7.10
million). Valuation was performed using comparable multiples method using
average enterprise value and earnings before interest tax depreciation and
amortization (EBITDA) multiple 7.6 and applying 10 percent downward adjustment
on the result due to the size of BAIP Group. 
BAIP group consolidated income in 2014 grew by 14 percent to 57.8 million litas
(16.74 million EUR), EBITDA - 34 percent to 5.98 million litas (1.73 million
EUR) and net profit - 152 percent to 3.3 million litas (0.96 million EUR).  
The biggest INVL Technology investments currently are companies in Lithuania,
Norway and Tanzania. It controls 100 percent of critical IT infrastructure
service company BAIP, Microsoft solutions and licensing company Acena,
consulting company Norway Registers Development AS together with informational
systems creation services company NRD and its subsidiary in Tanzania East
Africa Ltd and specialized cyber security company NRD CS. Controlled companies
are operating in business climate improvement field, offer integrated national
information system creation, critical IT infrastructure resistance, national
cyber security and defence services in more than 50 countries around the world. 
In 2014, the biggest projects of BAIP, UAB, managed by INVL Technology include:
a cloud computing solution between Lithuania and Belarus (value of the project
- EUR 0.65 million (LTL 2.247 million), magnetic tape libraries at the Bank of
Lithuania, renewed for 0.5 million EUR (LTL 1.755 million) and National Open
Access Research Data Archive MIDAS infrastructure design and implementation.
The company also implemented Information Systems of Lithuanian Courts (LITEKO)
actual and archival data separation and storage solution at the National Courts
Administration (value - LTL 1.22 million (EUR 0.35 million). In Lithuania, the
company also did projects with SEB bank, Western Union, DPD, “Mokilizingas”,
“Litgrid”, „Intermedix Lietuva“, Central Mortgage Office, “Eurovaistinė”.   UAB
NRD provided ITIS_EU module "mini one-stop shop" design services and
maintenance of the Excise information system at the State Tax Inspectorate
under the Ministry of Finance of the Republic of Lithuania. The company also
implemented Population Registry modernization project and signed a three-year
modernization (development) and systems maintenance agreements with Central
Mortgage Office. 
Specialized cyber security company NRD CS established the first commercial
Cybersecurity Incident Response Team in the Baltics - NRD CIRT which became a
full member of an international organisation FIRST (the Forum of Incident
Response and Security Teams). NRD CIRT is also a listed member of Trusted
Introducer.   In Africa, “INVL Technology” companies implemented the Burundi
Central Bank data center modernization project as well as the development of
Mozambique companies register, created by Norway Registers Development AS seven
years ago. They also modernized IT infrastructure at the Central Bank of
Zimbabwe, performed activities in Zimbabwe. In Tanzania and Norway the
Norwegian Peace Corps (Fredskorpset Norway) funded staff exchange program took
place, in Southeast Asia - Viet Nam Register project was finished. 
Norway Registers Development East Africa Ltd., established in Tanzania,
organized its annual conference "Cyber Defence East Africa 2014". The
conference took place in September in Arusha and was attended by nearly 100 IT
professionals from Tanzania, Uganda and Burundi. The event was opened by the
Deputy Minister of Internal Affairs of Tanzania Pereira Ame Silima,
presentations were made by the Tanzania Police Force Cyber Crime Unit, Tanzania
national Computer Emergency Response Team (TZ-CERT) representatives, ISACA
Tanzania and ISACA Uganda chapters presidents and cyber security experts from
Lithuania, Croatia, Tanzania and Uganda. The conference was also attended by
the representatives from the East African Community, the American and Russian
embassies, Tanzanian public institutions, banks and private sector
organizations. 


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