Updates from INVL Technology’s Managed Companies: NRD Companies

NRD Companies, a global IT and consulting group, has recently released its 2023 annual report, showcasing impressive growth and strategic achievements. In 2023, the company focused on developing products and solutions for the E-Government, Banking, and Retail sectors, as well as providing subject matter consultancy services in Africa, the Caribbean, and Southeast Asia.

The company reported a consolidated revenue of EUR 10.985 million, marking a significant year-over-year growth of 36%. Additionally, NRD Companies reported a consolidated operating profit of EUR 1.135 million, a substantial increase from the previous year. The EBITDA of the group also saw a remarkable 6.4 times increase compared to the previous year.

The revenue increase was mainly attributed to the success of two strategic business lines: e-Registries and Tax Administration. The company’s innovative solutions, such as the Unified Registry Platform and Virtual Fiscal Management System, played a key role in driving growth. Revenue from the Tax Administration business line surged by 211%, while revenue from the e-Registries business line witnessed a 28% increase.

NRD Companies demonstrated its expertise in E-Government and tax-related consultancy services in the Caribbean, completing successful projects in Trinidad and Tobago. In Africa, the company undertook a feasibility study to expand access to digital government services in Kenya and provided consultancy services to the Ministry of Finance in Ghana.

Mindaugas Glodas, CEO of NRD Companies, highlighted the company’s commitment to supporting digital transformation initiatives and fostering sustainable development. The company’s active participation in international dialogues and events further solidifies its position as a global leader in digital infrastructure development and subject matter consultancy services.