Novian, a software and IT infrastructure services group, saw a significant increase in revenue in 2023, reaching EUR 40.3 million, a 21.9% jump from the previous year. Despite this growth, the group’s EBITDA shrank by 18.5% to EUR 1.2 million. CEO Tomas Vitkus attributed this success to the growing demand for digitalization and the group’s commitment to providing innovative solutions.
One area that saw substantial growth was high performance computing (HPC) and cloud computing platforms, with revenue increasing by 3.3 times to EUR 4.3 million. The group also expanded its activities internationally, earning EUR 11.3 million in other countries, a 42.9% increase from the previous year.
Novian Technologies CEO, Gytis Umantas, highlighted the company’s focus on improving IT infrastructure managed services and expanding into new markets. The group also worked on projects in Africa and launched the Lithuanian Quantum Technology Association.
In the software services sector, Novian Pro signed contracts for projects in the public sector, aviation, and defense industries. The company introduced Innovation as a Service (IaaS) to facilitate AI development and completed the integration of a software services company acquired in 2021.
Despite facing challenges in certain projects, Novian remains optimistic about its future growth and continues to invest in cutting-edge technologies. The group’s commitment to innovation and client satisfaction sets it apart in the competitive IT industry.