Novian, a software and IT infrastructure services group, saw a 21.9% increase in revenue in 2023, reaching EUR 40.3 million. Despite this growth, the group’s EBITDA shrank by 18.5% to EUR 1.2 million, and operating profit decreased by 72.2% to EUR 0.14 million.
CEO Tomas Vitkus expressed excitement about the group’s contribution to business growth through innovative programming and IT solutions, particularly in the digitalization space. Novian’s focus on container platforms and microservices has been key to meeting the growing demand for modern technological solutions.
In terms of strategic areas, software development revenue grew by 11.6% in 2023, while high performance computing and cloud computing platforms saw a significant increase of 3.3 times. The group also expanded its activities internationally, with revenue from other countries rising by 42.9%.
Novian Technologies CEO Gytis Umantas highlighted the company’s efforts to enhance IT infrastructure managed services and expand its business geography. Projects such as the deployment of container management platforms for various organizations demonstrate Novian’s commitment to innovation.
The group’s software services division faced challenges, including increased costs on a project for Lithuania’s Central Public Procurement Information System. Despite this, Novian Pro introduced Innovation as a Service and completed the integration of a software services company acquired in 2021.
Overall, Novian’s focus on digitalization and software development has positioned the group for continued growth and success in the IT industry.