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BAIP group consolidated…

BAIP group consolidated revenue increased by 41 percent in the second quarter of 2014

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In the second quarter of 2014 consolidated revenue of BAIP group according to preliminary data reached 4.257 million EUR (31.981 million NOK) – 41 percent increase, compared to the same period last year – 3.015 million EUR (22.91 million NOK). BAIP group EBITDA (earnings before interest, taxes, depreciation and amortization) also increased by 41 percent and reached 0.338 million EUR (2.541 million NOK). In the same period last year EBITDA amounted to 0.24 million EUR (1.825 million NOK).

Compared to the first half of 2013, BAIP group consolidated revenue in 2014 increased by 30 percent and reached 7.188 million EUR (59.512 million NOK). In the same period last year it was 5.532 million EUR (45.401 million NOK). EBITDA increased by 58 percent and reached 0.654 million EUR (5.412 million NOK). In the same period last year EBITDA amounted to 0.414 million EUR (3.397 million NOK).

During the second quarter of 2014, BAIP group company BAIP together with joint venture partners and Vilnius University signed an agreement for the Lithuanian National Open Access Research Data Archive (MIDAS) hardware and software delivery, implementation and user trainings. The new infrastructure will be used for the promotion of research data exchange, distribution and interdisciplinary collaboration in Lithuania and abroad. The contract is worth 1.637 million EUR (13.672 million NOK).

BAIP has also signed a 0.167 million EUR (1.395 million NOK) worth data centre equipment purchase and installation contract with Litgrid, AB. The equipment will provide a coordinated high reliability solution that will establish organization’s data computing, transfer and storage platforms.

„NRD”, UAB signed a 36 month-long agreement with National Health Insurance Fund under the Ministry of Health for software development and maintenance services as well as a contract with Lithuanian Central Mortgage Office for the registers application for the adoption of euro.

During the second quarter of 2014, BAIP group companies have been implementing projects in Lithuania, Burundi, Mauritius and Viet Nam. In Lithuania and Belarus BAIP implemented and configured a cloud computing infrastructure worth 0.538 million EUR (4.491 million NOK). BAIP also renewed magnetic tape libraries at the Bank of Lithuania for 0.42 million EUR (3.509 million NOK).

Other important BAIP group news: since May, “NRD” has implemented an integrated Management system which combines quality, environment protection and information security aspects and complies to the requirements of LST EN ISO 9001:2008, LST EN ISO 14001:2005 and LST ISO/IEC 27001:2006 standards.

After the split-off of Invalda LT, AB, one of the major Lithuanian investment companies, BAIP group shareholders have changed. Since the 29th of April, 2014, 80 percent of BAIP group shares were transferred to the newly established INVL Technology, AB. Shares of INVL Technology, AB, – company, investing in IT services and industries – were listed at NASDAQ OMX Vilnius Stock Exchange on the 4th of May.

BAIP group – a group of specialized companies working in the field of informatics and legal informatics. Main focus areas include business climate improvement reforms, integrated national information system design, critical IT infrastructure resilience, national cyber security and cyber defence. The group manages: BAIP, “Acena”, “NRD”, Norway Registers Development AS, Norway Registers East Africa Limited, and NRD CS. BAIP group operates and implements projects in the Central and Eastern Europe, East Africa, Southeast Asia and other regions. “INVL Technology”, a split-off from an investment company “Invalda LT”, owns 80 percent shares of BAIP group, the rest belongs to BAIP group management.

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