The Novian software and IT infrastructure services group had a successful year in 2023, with aggregated revenue reaching EUR 40.3 million, marking a 21.9% increase from the previous year. Despite this growth, the group’s EBITDA decreased by 18.5% to EUR 1.2 million, and the operating profit shrank by 72.2% to EUR 0.14 million.
CEO Tomas Vitkus expressed his satisfaction with the group’s performance, highlighting their focus on meeting clients’ digitalization needs and providing innovative solutions, including AI applications. He emphasized the importance of developing modern technological solutions for efficient digitalization, such as using container platforms and microservices.
In terms of strategic business areas, the group saw growth in software development revenue and high performance computing (HPC) and cloud computing platforms. Revenue from digitization projects also increased, while IT maintenance services experienced a slight decline.
The Novian group’s activities were not limited to Lithuania, as they expanded their presence in other countries, earning EUR 11.3 million in revenue outside of Lithuania. The group’s companies worked on various projects globally, including digitization initiatives in Moldova and Sint Maarten.
Novian Technologies CEO Gytis Umantas highlighted the company’s efforts to enhance IT infrastructure managed services and expand their business geography. The company focused on improving service quality and implementing innovative projects, such as container management solutions for key institutions.
Overall, the Novian group’s commitment to innovation and client satisfaction has contributed to its growth and success in the IT sector. With a strong focus on digitalization and cutting-edge technologies, the group is well-positioned for continued expansion and success in the future.