Novian’s Revenue Soars to EUR 40.3 Million in 2023

The Novian software and IT infrastructure services group has reported a remarkable 21.9% increase in revenue, reaching EUR 40.3 million in 2023. This significant growth is a testament to the company’s commitment to providing innovative solutions to its clients.

Novian’s revenue growth

The company’s EBITDA for last year was EUR 1.2 million, a decrease of 18.5% compared to the previous year. The operating profit for 2023 was EUR 0.14 million, a 72.2% decrease from 2022.

“As demand for digitalization grows, we are striving to create value for clients by addressing their needs and providing advanced programming and IT infrastructure solutions, seeking ways to effectively apply innovations, including AI.” - Tomas Vitkus, CEO of Novian group.

Novian’s Expertise in Digitalization

The company’s experience in developing modern technological solutions for fast and efficient digitalization has been a key factor in its growth. Instead of monolithic information systems, container platforms are used to upgrade IT infrastructure, and microservices are used to deploy new applications and information systems.

Novian’s digitalization solutions

Software Development Revenue Grows 11.6%

The Novian group’s software development revenue grew 11.6% last year compared to 2022, from EUR 8.2 million to EUR 9.1 million. The company’s expertise in high-performance computing (HPC) and cloud computing platforms saw a significant increase in revenue, rising from EUR 1.3 million to EUR 4.3 million.

Novian’s software development revenue

Digitization and IT Infrastructure Managed Services

In the digitization area, revenue grew 6.5% in 2023 to EUR 1.6 million. The company’s IT infrastructure managed services have been enhanced, with a focus on improving the quality of critical IT infrastructure managed services.

Novian’s digitization and IT infrastructure managed services

International Expansion

The Novian group’s companies earned EUR 29 million of their revenue, or 72%, in Lithuania; the amount is 15.3% more than in 2022. Revenue earned in other countries was EUR 11.3 million, or 42.9% more than in the year-ago period. The group had activities in a total of 37 countries last year.

Novian’s international expansion

Notable Projects

The company has implemented several notable projects, including the deployment of container management platform solutions for the Bank of Lithuania, the Centre of Registers, and the Information Society Development Committee of Lithuania. An HPC solution was implemented for the 16 countries of the Southern African Development Community (SADC), enabling them to forecast weather faster and more accurately.

Novian’s notable projects

In the digitization area, projects in Moldova stood out for their size, with more than 40 million pages to be digitized. A digitization project was begun in Sint Maarten, with plans to set up a digitalization centre and digitize about 4 million pages.

Novian’s digitization projects

Software Development for Public Sector, Aviation, and Defence

The company continues to actively develop national information systems, with experience in tax and healthcare projects. They are working on others in the area of defence, and provide dedicated teams of programmers on demand for projects and organisations, including embedded software development.

Novian’s software development