September 15, 2022. NRD Companies, a global group of information technology companies, specializing in creating GovTech and FinTech solutions and providing related advisory services, recently released its H1 2022 report. in the first half of 2022 decreased by 6% compared to the same period in 2021, from 3.3 million to 3.1 million euros. EBITDA (earnings before interest, taxes, depreciation and amortization) decreased from 204,000 to -359,000 EUR. That said, revenue from the retail sector increased by 119%, while the e-government sector decreased by 15% compared to the first half of 2021.
“The continued long-term effects of the pandemic in Southeast Asia and the Caribbean have manifested in the cancellation or postponement of a number of projects. Despite this, the NRD companies have pursued a strategy to ensure sustainable business growth for 2022 and beyond. We continued to invest heavily in the expansion of the Consulting department by recruiting experts in the digitalization of public services; Development of commercial, civil and other registers; digital identification and digital signature; Digital inclusion and other areas. This strategy worked because during the reporting period, the firm’s consultants began or continued to develop long-term projects, ranging from periods of 5 months to 4 years. These include ICT strategies and the provision of business registry assessments in several countries, including Sint Maarten, the Commonwealth of Dominica, Trinidad and Tobago, Palestine, Guyana and Somalia,” says Mindaugas Glodas, CEO of NRD Companies.
NRD Companies has also managed to retain its most valuable asset: people. More so, the group hired new technical and business development experts, increased salaries and invested in developing employee skills and improving methodologies in order to increase productivity. Significant investments have also been made in the development of URP (Unified Registry Platform), an internationally proven platform for building advanced registry solutions in various jurisdictions, aimed at reducing implementation costs. and increase value for customers.
NRD Companies has started to implement a series of consultancy projects in various countries, including the development in Lithuania of the intelligent electronic cash register system (iEKA project) for the Lithuanian State Tax Inspectorate. In addition, NRD Companies continues the implementation of the Business e-Register platform in Belize, pursues many other projects and is already in the negotiation phase for new projects in its main areas: E-Registers; E-governance; electronic services; collection of taxes; Smart retail; Digital bank.
“Our teams are well positioned to deliver development, implementation and consulting projects in our target markets of Africa, South East Asia and the Caribbean. In the first half of 2022, the group implemented projects in 29 countries. We will continue to adhere to our goal of remaining a leading provider of e-registry solutions while providing the accompanying consulting solutions needed to transform developing countries,” concludes Glodas.
ABOUT BDNI COMPANIES
NRD Companies is a global group of IT and consulting firms, specializing in the governance and development of economic digital infrastructure. Based in Norway, the group brings together companies operating in Fintech, GovTech and practice-based consulting to help countries achieve the United Nations Sustainable Development Goals. NRD companies have a successful track record in implementing projects, such as electronic registers, online service delivery platforms, national postal digitization, tax administration platforms and other digital solutions, on 5 continents. The group is a recognized leader in the industry and is controlled by UTIB INVL Technology.
NRD Companies is a parent company for the following subsidiaries: Norway Registers Development AS, NRD Systems, NRD Rwanda, ETRONIKA, Infobank Uganda. More information: www.nrdcompanies.com