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Novian: a leading Baltic IT company

Novian is a leading Baltic software development, IT infrastructure, managed IT services and digitization company with annual revenue of 40 million euros (in 2023). With offices in 6 countries and its HQ in Vilnius, it employs more than 250 people and has delivered projects in more than 50 countries.

Formed in 2016 and born from BAIP, which was an IT reseller, when INVL Technology acquired it in 2007, Novian has reinvented itself as a software and managed IT services company. Key steps have included the acquisitions of Acena in 2008, Algoritmu Sistemos in 2016, and Elsis PRO in 2021.

Novian expanded its geography to cover the Baltics with the acquisition of Andmevara in 2016, and made inroads into the Nordics and boosted its digitization offering by acquiring Zissor in 2019.

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Key People

Tomas Vitkus
CEO of Novian and Novian Systems
Gytis Umantas
CEO of Novian Technologies and Novian Eesti OU
Tadas Jonušas
CEO of Novian Pro
Artūras Milašauskas
CEO of Zissor, Chief Innovation Officer at Novian Technologies
Asta Urmanavičienė
CEO of Andmevara SRL
Rokas Ralys
Head of Digital Transformation & Innovation at Novian
Paulius Vaitkevičius
Head of Innovations for Software Services at Novian
Marius Žilinskas
Head of Sales and and Development at Novian Systems
Aušra Kibirkštienė
CFO&COO at Novian Technologies
Ieva Dunajevaitė -Narmontienė
Head of Communication and Marketing of Novian

Legal Structure

Company & Business Structure

Novian companies operate across 4 lines of business: software, IT infrastructure, managed IT services and digitization.
*Payroll and related costs are not included in cost of sales. In calculating the gross profit figure, direct wage costs were not included in the cost of sales.

Revenue structure in 2023 by line of business

Gross profit by line of business (millions of euros)*

*Payroll and related costs are not included in cost of sales. In calculating the gross profit figure, direct wage costs were not included in the cost of sales.

Number of employees by line of business

Geography & Sectors

Historically Novian was a Baltic company operating in the B2G sector. Over the years it has diversified its business into the European Economic Area and the B2B sectors.
*Excluding finance and aeronautics.

Revenue split by geography, millions of euros

Revenue split by sector, millions of euros

*Excluding finance and aeronautics.

Proprietary Software & Methodologies

Novian proprietary software includes:

Masis – Novian Systems’ municipal tax management software

Atris – Novian Systems’ waste management software

PRO.Risks – Novian Pro’s risk management software

SHIFT – Novian Pro’s ATCO rostering software

Galaxy – Novian Pro’s nanosatellite communication software

Zissor’s Media Monitoring software

Zissor’s Archive Digitization software

Zissor’s PDF-to-Article Conversion software

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Novian proprietary methodologies include:

CIMF – Novian Technologies’ critical IT infrastructure and database maintenance methodology

MigrITIS – Novian Technologies’ IT infrastructure and IS migration methodology

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Growth Targets for 2023-2028

Novian targets:
  • CAGR revenue growth of
    12%
  • share of gross profit for recurring SaaS and managed IT services of at least
    28%
CAGR revenue growth of
12%
share of gross profit for recurring SaaS and managed IT services of at least
28%
Novian's strategic areas for company value growth:
  • Software business

    EBITDA CAGR growth of

    44%
  • Digitization

    EBITDA CAGR growth of

    46%
  • HPC and cloud computing

    Gross profit CAGR growth of

    24%
    on the back of governments’ digitalisation and environment protection projects
Software business

EBITDA CAGR growth of

44%
Digitization

EBITDA CAGR growth of

46%
HPC and cloud computing

Gross profit CAGR growth of

24%
on the back of governments’ digitalisation and environment protection projects

Financial Performance

Novian (thousands of euros)*
Group Results
2019 2020 2021 2022 2023 CAGR
’19-’23		 CAGR
’23-’28**
Revenue 23,492 24,113 25,826 33,035 40,268 14% 12%
Gross profit*** 8,564 8,628 10,382 13,141 14,469 14% 13%
EBITDA**** 1,556 1,788 1,725 1,522 1,897 5% 34%
EBIT**** 755 996 814 489 793 1% 53%
Revenue Gross profit**** EBITDA EBIT
2019 23,492 8,564 1,556 755
2020 24,113 8,628 1,788 996
2021 25,826 10,382 1,725 814
2022 33,035 13,141 1,522 489
2023 40,268 14,469 1,897 793
CAGR
’19-’23		 14% 14% 5% 1%
CAGR
’23-’28**		 12% 13% 34% 53%
*Results of newly acquired companies are included from the year of acquisition, i.e. the figures present both organic and acquisition-based growth. Negative impact derived from group structuring process is not eliminated.
**Growth estimates.
***In calculating the gross profit figure, direct wage costs were not included in the cost of sales.
****Normalized 2023 EBITDA and EBIT due to VPT project (657 thous. EUR).
Novian (thousands of euros)*
Recurrent IT services
2019 2020 2021 2022 2023 CAGR
’19-’23		 CAGR
’23-’28**
Revenue 4,644 4,373 4,957 5,055 4,718 0% 16%
Gross profit*** 2,943 2,917 3,564 3,601 3,409 4% 17%
Revenue Gross profit***
2019 4,644 2,943
2020 4,373 2,917
2021 4,957 3,564
2022 5,055 3,601
2023 4,718 3,409
CAGR
’19-’23		 0% 4%
CAGR
’23-’28**		 16% 17%
*Results of newly acquired companies are included from the year of acquisition, i.e. the figures present both organic and acquisition-based growth. Negative impact derived from group structuring process is not eliminated.
**Growth estimates.
***In calculating the gross profit figure, direct wage costs were not included in the cost of sales.
Novian (thousands of euros)*
Software business
2019 2020 2021 2022 2023 CAGR
’19-’23		 CAGR
’23-’28**
Revenue 3,845 3,747 7,108 8,173 9,119 24% 17%
Gross profit*** 3,430 3,448 5,102 6,026 6,405 17% 15%
EBITDA**** 262 261 602 136 543 20% 44%
Revenue Gross profit*** EBITDA****
2019 3,845 3,430 262
2020 3,747 3,448 261
2021 7,108 5,102 602
2022 8,173 6,026 136
2023 9,119 6,405 543
CAGR
’19-’23		 24% 17% 20%
CAGR
’23-’28**		 17% 15% 44%
*Results of newly acquired companies are included from the year of acquisition, i.e. the figures present both organic and acquisition-based growth. Negative impact derived from group structuring process is not eliminated.
**Growth estimates.
***In calculating the gross profit figure, direct wage costs were not included in the cost of sales.
****Normalized 2023 EBITDA due to VPT project (657 thous. EUR).
Novian (thousands of euros)*
IT infrastructure business
2019 2020 2021 2022 2023 CAGR
’19-’23		 CAGR
’23-’28**
Revenue 14,702 15,556 13,427 19,373 25,984 15% 8%
Gross profit*** 2,315 2,368 1,805 3,024 4,461 18% 4%
EBITDA 402 411 420 1,122 1,475 38% 17%
Revenue Gross profit*** EBITDA
2019 14,702 2,315 402
2020 15,556 2,368 411
2021 13,427 1,805 420
2022 19,373 3,024 1,122
2023 25,984 4,461 1,475
CAGR
’19-’23		 15% 18% 38%
CAGR
’23-’28**		 8% 4% 17%
*Results of newly acquired companies are included from the year of acquisition, i.e. the figures present both organic and acquisition-based growth. Negative impact derived from group structuring process is not eliminated.
**Growth estimates.
****In calculating the gross profit figure, direct wage costs were not included in the cost of sales.
Novian (thousands of euros)*
Managed IT services
2019 2020 2021 2022 2023 CAGR
’19-’23		 CAGR
’23-’28**
Revenue 4,218 4,044 4,139 4,022 3,602 -4% 19%
Gross profit 2,404 2,345 2,642 2,968 2,687 3% 20%
Revenue Gross profit
2019 4,218 2,404
2020 4,044 2,345
2021 4,139 2,642
2022 4,022 2,968
2023 3,602 2,687
CAGR
’19-’23		 -4% 3%
CAGR
’23-’28*		 19% 20%
*Results of newly acquired companies are included from the year of acquisition, i.e. the figures present both organic and acquisition-based growth. Negative impact derived from group structuring process is not eliminated.
**Growth estimates.
Novian (thousands of euros)*
Digitization business
2019 2020 2021 2022 2023 CAGR
’19-’23		 CAGR
’23-’28**
Revenue 726 765 1,152 1,467 1,562 21% 15%
Gross profit*** 414 467 832 1,123 916 22% 17%
EBITDA 19 21 148 83 82 44% 46%
Revenue Gross profit*** EBITDA
2019 726 414 19
2020 765 467 21
2021 1,152 832 148
2022 1,467 1,123 83
2023 1,562 916 82
CAGR
’19-’23		 21% 22% 44%
CAGR
’23-’28**		 15% 17% 46%
*Results of newly acquired companies are included from the year of acquisition, i.e. the figures present both organic and acquisition-based growth. Negative impact derived from group structuring process is not eliminated.
**Growth estimates.
***In calculating the gross profit figure, direct wage costs were not included in the cost of sales.
  • 1
See full financial statements

Customer Base

Public sector
  • Ministry of Finance (LT)
  • Lithuanian State Data Agency (LT)
  • Center of Registers (LT)
  • Kyrgyz Post (KG)
Tax administration
  • State Tax Inspectorate (LT)
  • Burundian Revenue Authority (BI)
  • Rwanda Revenue Authority (RW)
  • 41 municipalities in Lithuania (LT)
Environment
  • West African Science Service Centre on Climate Change and Adapted Land Use (BF)
  • Ministry of Environment (LT)
  • 3 regional waste management centres (LT)
  • South African Development Community (SA)
Health and social care
  • National Health Insurance Fund (LT)
  • States Medicine Control Agency (LT)
Finance
  • National Bank of Rwanda (RW)
  • SEB (LT, LV, EE)
  • Swedbank (LT, LV, EE)
  • Nasdaq Baltic (LT)
Retail
  • Iki (LT)
  • Rimi (LT)
  • Norfa (LT)
  • Maxima (LT, EE)
Logistics
  • LTG Lietuvos Gelezinkeliai (LT)
  • DPD (LT)
Aerospace
  • ADB Safegate (AT)
  • Eurocontrol (BE)
  • Oro Navigacija (LT)
  • European Space Agency (BE)
Media
  • Cision (UK)
  • Alma Media (FI)

Notable Projects

Lithuanian population and housing census digitalization

A new information system using data from 19 key state registers and information systems enabled 5 specialists to fully handle the 2021 census compared to 6,000 interviewers in 2011.

Vilnius University high-performance computing devices’ cluster

A unique new computing cluster increased performance tenfold to allow for quantum computer modelling and quantum algorithm development.

Nanosatellite data transmission and management platform

A system specifications and technology plus high-level architecture to support nanosatellites’ communication with each other and ground stations.

Integrated air traffic analysis and management system

A system that automatically schedules air traffic controller work using artificial intelligence and big data solutions, resulting in more flights serviced with the same resources, and fewer flight delays while ensuring safe air navigation.

System for 24/7 large-scale monitoring of newspaper and magazines

In production since 2000, with article recognition, metadata extraction, keyword searches and other features.

Key Highlights

  • 1
    Software developer for the aerospace and defence industries – a supplier to the European Defence Agency, the European Space Agency, Eurocontrol and others.
  • 2
    At the forefront of the transition from monolithic to flexible IT solutions – containers and microservices.
  • 3
    One of the world's leading technology providers in media monitoring and library digitization.
  • 4
    Robust capabilities in high performance and cloud computing platforms for governments and environmental protection.
  • 5
    Management team with an exceptional track record and decades of experience in the industry.
1
Software developer for the aerospace and defence industries – a supplier to the European Defence Agency, the European Space Agency, Eurocontrol and others.
2
At the forefront of the transition from monolithic to flexible IT solutions – containers and microservices.
3
One of the world's leading technology providers in media monitoring and library digitization.
4
Robust capabilities in high performance and cloud computing platforms for governments and environmental protection.
5
Management team with an exceptional track record and decades of experience in the industry.
  • 1

Want to Know More?

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