News from INVL Technology managed companies: NRD Cyber Security net profit increased by 49% in H1 of 2023

In the first half of this year, NRD Cyber ​​Security, a company that offers cybersecurity solutions, consulting, and other services, earned EUR 321,000 net profit, 49% more than during the same period in 2022. Company's income in H1 of 2023 reached EUR 2,752, 14% more than in the first half 2022. Also, the share of income from the financial sector grew significantly - compared to the same period in 2022, it grew by 121% this year.

The first half of the year was notable for NRD Cyber ​​Security, because with its managed security service CyberSOC, the organisation has started providing round-the-clock network monitoring. It is the first organisation in Lithuania to offer continuous threat monitoring by competent analysts rather than automated tools. Also, in the first half of 2023, the overall number of managed security service CyberSOC customers grew, with some of them choosing the 24/7 service option.

The organisation not only expanded its clientele in Lithuania, but also in new markets: Albania, Kyrgyzstan, Saudi Arabia, Uzbekistan, and through World Bank projects in Armenia, Mongolia, São Tomé and Príncipe, and Tajikistan. Most projects addressed strengthening cybersecurity capabilities as well as creating and modernising cybersecurity teams (CSIRTs). A particularly important project was carried out together with the UK government's Foreign, Commonwealth and Development Office (FCDO) and Geneva Centre for Security Sector Governance (DCAF). As a result, a design for the CSIRT of the Kosovo energy sector was created. Also, Natrix and CyberSet, the cyber resilience tools developed by NRD Cyber ​​Security, continue to be successfully deployed globally - in the first half of 2023, these solutions were installed in Malta and have been helping to protect critical information infrastructure.

NRD Cyber Security has organised events and carried out other initiatives that strengthen the cyber resilience for countries and organisations in Lithuania and abroad. These are: international webinars for security teams on strengthening operations; educational articles and reports on how organisations can improve their cybersecurity maturity; and others.

The second half of this year has started equally busy. A large-scale complex project with The European Union Agency for Cybersecurity (ENISA) has been launched, which aims to strengthen the cyber resilience of EU countries. NRD Cyber ​​Security assesses risks and checks the cybersecurity readiness level of the Lithuanian public sector organisations. Also, NRD Cyber Security team is planning to use Zero Trust method in creating and developing the national cybersecurity principles whilst working on a project in Mongolia. The SOCshare project is also underway, which, by creating tools for sharing cyber threats, aims to raise the maturity of SOCs operating in the EU.

About NRD Cyber Security

NRD Cyber Security offers cybersecurity solutions, consulting, and other services. The company creates a secure digital environment for countries, governments, and organisations and implements cybersecurity resilience enhancement projects around the world. Its experts have extensive experience in cybersecurity incident management, auditing, security operations centres and other services. NRD Cyber Security has developed cybersecurity technology solutions which have been successfully deployed in various countries around the world. Its employees are members of international cybersecurity organisations and have developed international good practices in incident response. INVL Technology, an investment company in IT businesses that is listed on Nasdaq Vilnius, manages NRD Cyber Security.

The person authorized to provide additional information:

INVL Technology Managing Partner

Kazimieras Tonkūnas

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