The businesses of the Novian IT infrastructure and software group had aggregated revenue of EUR 10.5 million in the first half of this year, EUR 45 000 more than in the corresponding period of 2019. According to unaudited figures, the aggregated EBITDA of the group’s businesses was EUR 0.8 million and increased 2.7 times compared to the first half of 2019. The Novian group recorded a net profit of EUR 0.3 million for the six-month period; in the same period last year it had a net loss of EUR 0.2 million.
Although the group’s companies faced challenges related to the coronavirus pandemic –some of them, especially mid-sized businesses, temporarily reduced operations– nonetheless, thanks to growing large-scale complex projects and business needs related to remote work, the group kept revenue at a level similar to last year’s.
“The group’s structure having been streamlined at the start of the year, the companies are determinedly continuing their activities in the areas of IT infrastructure and software services, and digitalization, focusing their attention on services and products that will also meet the future needs of business and organizations. In a geographic sense, we continue aiming to expand in the Baltic countries and Norway,” said Artūras Zdanavičius, Novian’s acting CEO.
Growth in supercomputer projects
“We see especially big prospects in the field of supercomputers. Already this year, the volume of projects in the area has grown and we believe it will increase in the future too,” said Gytis Umantas, the head of technologies business at Novian and the CEO of BAIP. The Estonian company Andmevara Services OU and its subsidiary in Moldova, Andmevara SRL, also operate in the technologies area.
Umantas said projects in the first half of the year that stood out include the deployment and integration of a cloud for the Lithuanian state and the Southern African Development Community (SADC) Climate Services Centre project, during which climate change and weather forecasting solutions are being implemented in 14 African countries.
In June this year, a contract was also signed on the installation of high-performance computing devices at Vilnius University’s Faculty of Mathematics and Informatics. The new equipment will enable the fast and effective conduct of research in the fields of artificial intelligence development, neural network training and large-scale computing, as well as other creative and research activities for which large-scale computing is needed.
Probing of big data possibilities
The Novian group companies that work in software development are also focusing on competence building. “We strive to be a technology partner that walks in step with the needs of business and organisations. Currently we are able to offer a full range of software services and are also delving deeper into big data, artificial intelligence and other areas,” said Elena Vengrienė, the head of software business at Novian and the CEO of Algoritmu Sistemos.
She said that was made possible by the streamlining of the software companies’ structure at the start of this year – with the acquisition of Acena, Algoritmu Sistemos’s portfolio of products was broadened by the addition of solutions for business intelligence and process automation. That synergy is making it possible to offer clients broader digital transformation and software solutions. Estonia-based Andmevara AS also operates in the software area.
In the first half of this year, the software companies conducted projects to develop the Lithuanian State Tax Inspectorate’s personal income tax information system and to develop and modernise the Labour Inspectorate’s information system for continuous monitoring of working conditions in the workplace. They also helped create and develop an information system and registers for the Estonian Patent Office and helped advise the tax authorities of Zanzibar in a project to deploy a virtual fiscal device management system.
Expanded product portfolio in Norway
Norway-based Zissor is currently focusing on expanding its client portfolio by providing media monitoring software and digitalization services world-wide, and has also broadened its portfolio of offerings with the software and IT infrastructure products and services of Novian group’s businesses. They make it possible to provide companies and organizations with a full portfolio of IT services, and for public sector institutions, to carry out a variety of projects of both municipal and national scale.
The Novian group increased its revenue from projects in Lithuania in the first half of this year. They made up 68% of total revenue (57% last year) and, compared to the first half of last year, grew 21% to EUR 7.2 million. Of total revenue, 10% was in Estonia and 6% in Norway. The Novian group’s companies in the Baltic countries, Norway and Moldova employ a total of approximately 180 professionals.
The Novian group of businesses is owned by INVL Technology, a company that invests in IT businesses.
More information:
Presentation of Novian group results for the 1st half of 2020.
