INVL Technology Interim Results for 2024
As of June 30, 2024, INVL Technology reported an equity of EUR 43.95 million, equating to EUR 3.67 per share. This marks an increase from the end of the previous year, when these figures stood at EUR 43.53 million and EUR 3.61 per share, respectively.
Investment Growth Overview
By the end of June 2024, the Company had invested EUR 44.44 million into its managed companies, a significant rise from EUR 34.22 million at the same time last year. This growth highlights a positive trend in the Company's investment strategy.
Profitability Highlights
During the first half of 2024, the Company achieved a net profit of EUR 0.624 million, a striking contrast to the net loss of EUR 0.44 million reported in the same period of 2023. This impressive turnaround showcases INVL Technology's effective management and operational enhancements.
Company Performance Insights
INVL Technology, which focuses on investing in IT businesses, reported an equity and net asset value of EUR 43.95 million at the end of June this year. This represents a 1% increase since the start of the year. The per share value of equity and NAV was EUR 3.6658, reflecting a growth of 1.7% from earlier in the year.
Portfolio Companies' Performance
In the first half of this year, INVL Technology's portfolio companies generated a total revenue of EUR 27.34 million, which is a 6% decrease compared to the same period last year. However, gross profit rose by 7.2% to EUR 8.74 million, and aggregated EBITDA increased 2.2 times, reaching EUR 2.28 million, demonstrating improved operational efficiencies.
Revenue Distribution
Throughout the first six months of this year, the portfolio companies achieved EUR 17.47 million in revenue from the domestic market, making up 64% of the total revenue, while EUR 9.86 million came from international operations.
Core Companies Under Management
INVL Technology has established significant stakes in several key firms, including the cybersecurity company NRD Cyber Security, the GovTech firm NRD Companies, and the Baltic IT company Novian. Each of these subsidiaries plays a crucial role in enhancing INVL's market presence.
Future Expectations and Growth
Kazimieras Tonk?nas, the managing partner of INVL Technology, expressed optimism about the promising results expected from these companies as they continue to innovate in their respective sectors. There are high expectations for NRD Cyber Security to maintain its growth trajectory, while Novian's range of secured and ongoing projects is anticipated to help it not only recover but also surpass its 2023 revenue figures.
Sector-Specific Growth
NRD Cyber Security has demonstrated remarkable performance, achieving a 32.4% increase in consolidated revenue to EUR 3.64 million. Additionally, gross profit grew by 13.9% to EUR 1.91 million, and EBITDA saw a substantial rise of 42.3%, reaching EUR 570,000.
Performance of NRD Companies
On the other hand, NRD Companies reported a consolidated revenue of EUR 5.02 million in the first half of the year, which is a 19.4% decline compared to 2023. Despite this, gross profits remained stable at EUR 2.49 million, and EBITDA for NRD Companies increased by 3.9% to EUR 590,000, showcasing resilience in the face of market challenges.
Novian’s Revenue Performance
In the first half of 2024, Novian recorded total revenues of EUR 16.43 million, reflecting an 11.1% decrease from the same period in 2023. However, an increase in gross profit to EUR 3.75 million indicates operational improvements. Notably, Novian's EBITDA surged to EUR 1.12 million, marking an impressive 5.5 times increase compared to the previous year.
Strategic Partnerships and Advisory
Earlier this year, INVL Technology partnered with Corum Group, a prominent M&A advisory firm, to assist in the sale of its portfolio businesses. This strategic move aims to enhance shareholder value and streamline operations.
Conclusion on INVL Technology’s Performance
Managed by INVL Asset Management, a leading alternative asset manager in the Baltics, INVL Technology is well-positioned for growth. As a closed-end investment company, it is required to exit its investments by mid-July 2026 while distributing proceeds to its shareholders.
Frequently Asked Questions
What were INVL Technology's net profits for H1 2024?
INVL Technology reported a net profit of EUR 0.624 million for the first half of 2024.
How much did the company invest by June 2024?
The company's investments into managed companies reached EUR 44.44 million by June 2024.
What are the core companies in INVL Technology's portfolio?
INVL Technology's portfolio includes NRD Cyber Security, NRD Companies, and Novian.
How did NRD Cyber Security perform in H1 2024?
NRD Cyber Security's revenue increased by 32.4% to EUR 3.64 million in the first half of 2024.
What is the future outlook for INVL Technology?
The company anticipates continued growth and profitability across its portfolio in the upcoming periods.
