NRD Cyber Security revenue grew 14% in 2020 Vilnius Stock Exchange:INC1L


The consulting and technology development company for cybersecurity, NRD Cyber ​​Security, achieved sales of EUR 3.23 million in 2020, an increase of 14% compared to sales of EUR 2.84 million in 2019.

According to verified data, NRD Cyber ​​Security also achieved a net profit of EUR 321,000 last year, which corresponds to an increase of 38% compared to EUR 232,000 in the same reporting period in 2019.

Private sector revenue in 2020 more than tripled its corresponding revenue in 2019; In 2020, NRD Cyber ​​Security accounted for 25% of total revenue and 9% in 2019.

2020 was an important year for NRD Cyber ​​Security with a large number of clients in the financial sector. In the first half of 2020, NRD Cyber ​​Security's activities included the signing of a service contract with the Central Bank of Nigeria, projects at the Egyptian Central Bank and in the country's commercial banking sector, and one from the European Investment Bank.

The total investments of NRD Cyber ​​Security in research and experimental development (R&D) at the end of 2020 amounted to EUR 1.8 million, of which EUR 997,000 was financed by the European Union, the remainder from its own resources. In 2020 alone, EUR 1 million was made available for this purpose, of which EUR 567,000 came from European Union funds and the rest from own funds.

One of its R&D products, CySystem, designed for critical infrastructure managers and to identify, monitor and analyze cyber threats for the critical infrastructure of national, industry or multinational companies, is already used by countries in Europe, Asia and Africa .

Another important NRD Cyber ​​Security product is CyberSet. The company's project activities are aimed at developing a product for small IT service providers around the world who want to offer their customers managed security services. CyberSET consists of a series of automated processes that integrate typical security functions. This product will significantly lower the entry threshold for new Managed Security Service Providers (MSSPs) into various national markets and enable them to start up as MSSPs in a short time without major investments and thus to fit into the global security network.

NRD Cyber ​​Security also actively contributes to strengthening the cybersecurity and resilience of the countries. According to the company's CEO, Vilius Benetis, NRD Cyber ​​Security stands out in the market for its hands-on training in managing computer security incident management teams (CSIRT) and security operations centers (SOC). Their products focus on protecting critical information infrastructure by automating the management of security teams. It is worth noting that NRD Cyber ​​Security has been invited to join the international Cyber ​​Resilience for Development (Cyber4Dev) project and develop and run a CSIRT training course in different countries to strengthen the technological skills of CSIRT employees .

The company has also successfully delivered the training course for centers of excellence for creating and managing cybersecurity teams, organized as part of the International Telecommunication Union (ITU).

About NRD Cyber ​​Security

NRD Cyber ​​Security is a company that provides cybersecurity consulting, incident response, and technology implementation and development services. It aims to create secure digital environments for countries, governments and businesses and conducts a wide range of projects around the world. The company is led by INVL Technology, a Nasdaq Vilnius-listed IT investment company.

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
Email k.tonkunas@invltechnology.lt



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