Invalda AB - Other information

Revenue and EBITDA of BAIP group, IT sector company of Invalda LT group

Vilnius, Lithuania, 2014-02-12 08:37 CET (GLOBE NEWSWIRE) --  BAIP group, an IT
company of Invalda LT, is going to announce public release about preliminary
results of 2013. Invalda LT, AB owns 80% of BAIP group shares. The below
mentioned results are preliminary and may slightly differ from the results that
will be presented in the financial statements of Invalda LT. 

Enclosed below is the release of BAIP group:

BAIP group consolidated revenue, according to preliminary data, increased by 25
percent in 2013 and reached LTL 50.3 million (EUR 14.6 million), in 2012
revenue amounted to LTL 40.4 million (EUR 11.7 mln). Meanwhile EBITDA (earnings
before interest, taxes, depreciation and amortization), as compared to last
year when it was LTL 2.7 million (EUR 0.8 mln), increased by 63 percent and
reached LTL 4.4 million (EUR 1.3 million). 

In 2013, BAIP group operating in Norway, Lithuania and Tanzania has implemented
projects in Lithuania, Estonia, Latvia, Southeast Asia, Caribbean and East
African region: Rwanda, Mauritius, Uganda and Tanzania. 

BAIP group companies provided services and implemented projects in the Central
Bank of the Republic of Lithuania, Western Union, SEB Bank, Rwanda Development
Board (RDB), Mauritius Registrar-General's Department (RGD), Organisation of
Eastern Caribbean States, Vietnam Business Registration Offices, Lithuanian
Central Mortgage Office, Vytautas Magnus University, Vilnius University,
Prosecution Service of the Republic of Lithuania, shipping, logistics, retail,
transport companies and other organizations. 

“Revenue grew significantly in the areas of cyber defence, critical IT
infrastructure resilience, and information system design and development
services. We have also succeeded in our goal of including other group's
companies in service delivery in East Africa - BAIP and NRD CS now provide
services in the East African region”, explained the CEO of BAIP group
Kazimieras Tonkūnas. 

In 2013, along with the group's revenue, the number of companies within the
group also expanded. In April, in order to be closer to the customers, a part
of BAIP group Norway Registers Development AS (NRD AS) invested in East Africa
acquiring 70 percent shares of the company 360 Smart Consulting Ltd., which was
later renamed as Norway Registers Development East Africa Ltd. In addition, at
the end of 2013 BAIP group has spun-off its cyber defence services into an
independent, specialized cyber security company NRD CS. 

In 2014 BAIP group will continue to further develop and invest in its own cyber
security products and solutions, as well as modernise business, mortgage and
licensing register systems, and expand its portfolio with solutions necessary
for a comprehensive, sustainable and rapid progress of the developing
economies: consultations and information systems that support management of
public and centralised procurement, business inspections and state owned
enterprises, as well as solutions for modernisation of judiciary systems and
tax collection systems (eFilling). 

In terms of new businesses, BAIP group intends to combine young businesses in
rapidly growing countries of East Africa and Southeast Asia with European
information technology businesses and professionals, fund them and invest in
their development. BAIP group will continue its policy to be closer to the
customers and involve local business partners in its programs, as well as focus
on strengthening cooperation with Lithuanian and European service providers,
non-governmental professional organizations and academic sector. 

A ground for this has already been laid by the Memorandum of Understanding
signed between Norway Registers Development AS and Uganda Management and
Technology University. Furthermore, together with ISACA Tanzania Chapter, the
group is implementing a consultative Tanzanian National Cyber security
framework. 

In 2014 BAIP group companies are planning to implement projects in Latvia,
Portugal, Moldova, Georgia, Belarus, Tanzania, Uganda, Burundi, Rwanda, Viet
Nam, Laos, Mauritius and Central America. 


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