Novian, the software and IT infrastructure services group, reported aggregated revenue of EUR 33 million in 2022, up 27.9% from the previous year. The group’s EBITDA contracted 11.8% to EUR 1.5 million, while operating profit decreased by 39.9% to EUR 0.5 million. The Novian group earned 76% of its revenue, or EUR 25 million, in Lithuania, a 39.4% increase from 2021, with revenue earned abroad reaching EUR 7.9 million, up 1.4% from the previous year. Novian CEO Evaldas Rėkus said the company aimed to strengthen its competitive position in software development, digitization, and high-performance and cloud computing platforms. Revenue growth was seen in all of these areas, with software development revenue up 15% to EUR 8.2 million, digitization revenue up 27% to EUR 1.5 million, and HPC and cloud computing revenue up 3.5% to EUR 1.3 million.
As covered by a recent report from INVL Technology-managed companies, Novian had a successful year in 2022, with aggregated revenue of EUR 33 million, which is 27.9% more than the previous year. The group’s EBITDA for the year was EUR 1.5 million, and there was an operating profit of EUR 0.5 million, which is 39.9% less than the year before.
Novian group’s companies earned EUR 25 million of their revenue in Lithuania, which is 39.4% more than in 2021. Revenue earned abroad was EUR 7.9 million, or 1.4% more than a year earlier. The companies had activities in a total of 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 15% and reached EUR 8.2 million, and that from digitization rose 27% to EUR 1.5 million, while revenue from high performance computing (HPC) and cloud computing platforms was up 3.5% and reached EUR 1.3 million. Revenue from recurring services remained at a similar level and was EUR 5 million.
Novian is contributing to the modernization of national information systems in Lithuania, including tax systems, registries, and other areas. The company is also focusing on innovation, 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, while 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.
To cap it all off, Novian had a successful year in 2022, with revenue growth in all strategic areas, including software development, digitization, and high-performance and cloud computing platforms. The company is contributing to the modernization of national information systems in Lithuania and focusing on innovation, including the development of its nanosatellite-constellation data-exchange platform. Digital transformation consulting projects are also playing an increasingly important role in Novian’s business.