Novian, a software and IT infrastructure services group, reported aggregated revenue of €33m in 2022, up 27.9% YoY. The group’s EBITDA contracted 11.8% to €1.5m and its operating profit fell 39.9% to €0.5m. Novian’s companies earned €25m, or 76% of their revenue, in Lithuania, up 39.4% YoY. Revenue earned abroad was €7.9m, or 1.4% more than the previous year. The group’s CEO, Evaldas Rėkus, said the company aimed to strengthen its competitive position in areas such as software development, digitisation, and high-performance and cloud computing platforms. Software development revenue increased 15% to €8.2m, while digitisation revenue rose 27% to €1.5m.
Based on Marketscreener, Novian, the software and IT infrastructure services group, had a successful year in 2022. The group’s aggregated revenue amounted to EUR 33 million, which is a 27.9% increase from the previous year. However, the group’s EBITDA contracted by 11.8% to EUR 1.5 million, and the operating profit decreased by 39.9% to EUR 0.5 million.
The Novian group’s companies earned EUR 25 million of their revenue in Lithuania, which is a significant increase of 39.4% from 2021. Revenue earned abroad was EUR 7.9 million, which is 1.4% more than the previous year. The group’s companies had activities in 36 countries in 2022.
Novian CEO Evaldas Rėkus said, “We aim to strengthen our competitive position, with particular focus on Novian’s strategic areas like software development, digitization, and high-performance and cloud computing platforms. We were active in all these areas last year and are pleased to see revenue growth in all of them.”
Comparing the performance of the group’s companies in 2022 to 2021, revenue from software development increased by 15% to reach EUR 8.2 million, and revenue from digitization rose by 27% to EUR 1.5 million. Revenue from high-performance computing (HPC) and cloud computing platforms was up 3.5% to reach EUR 1.3 million, while revenue from recurring services remained at a similar level, amounting to EUR 5 million.
Novian’s CEO, Rėkus, stated, “As regards software development, we feel the need for public sector digitalization in Lithuania. We’re contributing to the modernization of national information systems – we work with tax systems, registries, and other areas.” Novian is also focusing on innovation by further developing its nanosatellite-constellation data-exchange platform for the space industry and taking part in the creation of a National Information Impact Identification and Analysis Ecosystem.
IT maintenance was an important part of recurring services, and digital transformation projects were also in focus. “Digital transformation consulting projects are playing an increasingly important role in our business. Since last year, we’ve been providing the Bank of Lithuania with services for the transformation of applications to microservice-based architecture, and we upgraded infrastructure at the Central Bank of Rwanda,” said Gytis Umantas, the head of Novian Technologies and Novian Eesti.
Novian gave special attention to strategic areas, which led to revenue growth in software development, digitization, and high-performance and cloud computing platforms. The group’s activities in 36 countries demonstrate its global reach and commitment to providing innovative and reliable IT infrastructure services.
