Enlight Research on INVL Technology: Portfolio companies’ 6-month earnings exceeded expectations

Enlight Research has published an analysis of the financial results for the first half of 2023 of INVL Technology, a publicly listed company that invests in IT businesses.

The report by Enlight Research states that the January-June revenues and profits of the businesses in INVL Technology’s portfolio were higher than analysts projected. The NAV discount is at an all-time high of around 38 % vs. the long-term average of 21% since 2017, the report notes.

“We raise our sum-of-the-parts Base case Fair value per share to EUR 3.34 (prev. 3.15), vs. the latest reported NAV of EUR 3.14,” English Research says, adding: “We foresee a continued positive NAV development in the forecast period 2023-25E.”

Enlight Research provides private and institutional investors with investment analysis that they can use to form their own investment decisions. The company makes its reports available to all investors free of charge, also encouraging investors to use a range of research, both commissioned and traditional, to guide their investment decisions. Its senior analysts have at least 20 years of experience writing research reports.

The Enlight Research analysis commissioned by INVL Technology does not constitute investment research. The report was prepared for informational purposes and cannot be considered an offer to buy or sell shares. The responsibility for such a decision lies with the investor.

INVL Technology manages NRD Cyber Security (a cybersecurity company), NRD Companies (a GovTech company) and Novian (a Baltic IT company).

INVL Technology is a closed-end investment company traded on the secondary list of the Nasdaq Vilnius stock exchange (INC1L). It is managed by INVL Asset Management. INVL Technology’s investments will be realised by 14 July 2026, the proceeds will be paid out to shareholders, and the fund will be wound down.