News from companies managed by INVL Technology: Novian had a turnover of 16.4 million euros in the first half of 2024

The Novian software and IT infrastructure services group had total revenues of EUR 16.4 million in the first half of 2024, down 11.1% compared to the same period last year. The group’s EBITDA was EUR 1.1 million, compared to EUR 0.2 million in the same period a year earlier. Operating profit for the first six months of this year was EUR 0.6 million, compared to an operating loss of EUR 0.3 million in the first half of 2023. During the reporting period, Novian group companies earned EUR 12.6 million of their revenues, or 77%, in Lithuania and had projects in a total of 36 countries.

“The results for the first half of the year reflect our work to establish a solid foundation for further business growth. We believe that the competences of our companies and specialists will enable us to continue to successfully meet customer needs, with effective innovations and consulting activities,” says Tomas Vitkus, CEO of the Novian Group. He says that the companies continue to actively provide opportunities for cooperation in various IT areas and that the new contracts signed and tenders won in the middle of the year suggest that the revenue and profit figures will grow.