Investor Presentation • Jun 5, 2023
Investor Presentation
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2023 www.novian.io
IT consulting
Data Empowerment
Data science and analytics
Process Automation
IT maintenance, HPC and cloud computing
Recurrent IT services (SaaS, Managed IT services)
The Novian group companies create added value for clients by helping them achieve their goals: to increase business revenue and improve the quality of public sector services.
| * | Novian Technologies |
Novian Eesti/ Andmevara SRL** |
Novian Systems*** | Andmevara AS | Elsis PRO | Zissor | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021*** | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | |||
| Revenue | 25,826 | 33,035 | 16,523 | 22,222 | 979 | 1,832 | 3,974 | 4,592 | 508 | 209 | 2 956 | 3 393 | 886 | 783 | ||
| Gross profit | 6,421 | 7,990 | 2,672 | 3,539 | 876 | 1,397 | 1,041 | 1,057 | 234 | 113 | 890 | 1 205 | 708 | 675 | ||
| EBITDA | 1,725 | 1,522 | 1,267 | 1,468 | 157 | 148 | 291 | 65 | (81) | (96) | 382 | 318 | 105 | (80) | ||
| EBIT | 814 | 489 | 875 | 934 | 147 | 94 | 148 | (82) | (142) | (96) | 80 | 27 | 103 | (85) | ||
| Net profit (loss) |
461 | 44 | 593 | 573 | 117 | 26 | 144 | (102) | (219) | (122) | 94 | 77 | 80 | (66) |
*Unaudited aggregated operating results of the Novian group are presented, which include the results of the companies submitted and the results of Novian UAB. When aggregating the profit (loss) statements, dividend income was eliminated. The standalone annual financial statements of Novian Technologies UAB, Novian Systems UAB, Elsis PRO UAB and Zissor AS of 2022 are audited.
**Includes results of Novian Eesti OÜ (former Andmevara Services OÜ) and Andmevara SRL.
**Adjusted net profit is represented after eliminating one-off and atypical losses recognized in the separate reports of Novian Systems UAB arising from the impairment of loans granted to a subsidiary. In 2021, the impairment of the loan to Andmevara AS is eliminated in the amount of EUR 817 thousand (additional deferred income tax income of EUR 123 thousand), in 2022 impairment of the loan is eliminated in the amount of EUR 92 thousand (additional deferred income tax income of EUR 14 thousand). The Novian group's aggregate net profit has been adjusted accordingly.
| * | Novian Novian Eesti/ Technologies Andmevara |
Novian Systems SRL** |
Andmevara AS | Elsis PRO | Zissor | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31-12-2021 | 31-12-2022 | 31-12-2021 | 31-12-2022 | 31-12-2021 | 31-12-2022 | 31-12-2021 | 31-12-2022 | 31-12-2021 | 31-12-2022 | 31-12-2021 | 31-12-2022 | 31-12-2021 | 31-12-2022 | |
| Tangible assets | 1,640 | 2,538 | 1,124 | 1,563 | 28 | 185 | 149 | 471 | 78 | - | 246 | 310 | 12 | 7 |
| Intangible assets | 2,367 | 2,229 | 48 | 59 | 4 | 3 | 1,882 | 1,905 | - | - | 433 | 262 | - | - |
| Other non-current assets | 1,963 | 3,806 | 441 | 702 | - | 60 | 1,368 | 2,123 | - | - | 97 | 165 | 86 | 100 |
| Current assets | 9,277 | 11,591 | 5,459 | 6,749 | 295 | 511 | 1,994 | 1,495 | 95 | 16 | 1,053 | 1,754 | 397 | 213 |
| of which cash | 2,687 | 2,051 | 1,484 | 695 | 111 | 84 | 424 | 86 | 36 | 5 | 357 | 254 | 259 | 102 |
| Total assets | 15,247 | 20,164 | 7,072 | 9,073 | 327 | 759 | 5,393 | 5,995 | 173 | 16 | 1,829 | 2,491 | 495 | 320 |
| Equity | 4,645 | 4,398 | 2,458 | 2,531 | 104 | 184 | 2,342 | 2,163 | (811) | (924) | 353 | 330 | 367 | 209 |
| Non-current liabilities | 2,994 | 5,367 | 286 | 786 | - | 115 | 1,389 | 2,350 | 27 | - | 117 | 221 | - | - |
| Of which financial debt | 2,834 | 5,181 | 262 | 766 | - | 115 | 1,253 | 2,184 | 27 | - | 117 | 221 | - | - |
| Current liabilities | 7,608 | 10,399 | 4,328 | 5,756 | 223 | 460 | 1,662 | 1,481 | 957 | 940 | 1,359 | 1,940 | 128 | 111 |
| of which financial debt | 1,373 | 1,321 | 418 | 384 | 50 | 20 | 832 | 89 | 876 | 909 | 307 | 281 | - | - |
| Total liabilities and equity |
15,247 | 20,164 | 7,072 | 9,073 | 327 | 759 | 5,393 | 5,995 | 173 | 16 | 1,829 | 2,491 | 495 | 320 |
*Unaudited aggregated operating results of the Novian group are presented, which include the results of the companies submitted and the results of Novian UAB. When aggregating balance sheet items, the value of investments in subsidiaries was eliminated. The standalone annual financial statements of Novian Technologies UAB, Novian Systems UAB, Elsis Pro UAB and Zissor AS of 2022 are audited.
**Includes results of Novian Eesti OÜ (former Andmevara Services OÜ) and Andmevara SRL.
| Thousands of EUR* | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | CAGR 2017-2022 |
CAGR 2022- 2027*** |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15,776 | 20,317 | 23,492 | 24,113 | 25,826 | 33,035 | 16% | 13% |
| EBITDA** | 791 | 1,138 | 1,556 | 1,788 | 1,725 | 1,522 | 15% | 30% |
*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.
** From 2019 IFRS 16 was adopted, which affected the amount of EBITDA, therefore the EBITDA for the periods 2018 and 2019-2022 is not directly comparable. The results of 2021 include results of Elsis PRO UAB that was acquired in 2021 (revenue EUR 2,956 thousand and EBITDA EUR 382 thousand).
*** Growth estimates.
CAGR – compound annual growth rate.
| CAGR 2017-2022 |
CAGR 2022-2027** |
|
|---|---|---|
| Recurrent IT services | 4% | 14% |
| Software Development | 17% | 16% |
| Digitization | 132% | 18% |
| High Performance and Cloud Computing Platforms |
34% | 48% |
* 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.
| CAGR 2017-2022 |
CAGR 2022-2027** |
|||
|---|---|---|---|---|
| Recurrent IT services | 10% | 17% | ||
| Software Development | 17% | 19% | ||
| Digitization | 120% | 12% | ||
| High Performance and Cloud Computing Platforms |
45% | 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. In calculating the gross profit figure, direct wage costs were not included in the cost of sales.
** Growth estimates.
CAGR – compound annual growth rate.
Companies: Novian Systems (Lithuania) Elsis PRO (Lithuania) Andmevara AS (Estonia)
| v | |||||
|---|---|---|---|---|---|
| Project | Development of the Galaxy platform for data exchange in nanosatellite constellations |
Automated Domain Name Verification System for the Gaming Control Authority (LPT) under the Lithuanian Finance Ministry |
Upgrade of the State Register of Sources of Ionizing Radiation and Occupational Exposure maintained by the Radiation Protection Centre |
Development of the National Information Impact Identification and Analysis Ecosystem (NAAS) |
Upgrade of Lithuanian State Tax Inspectorate (VMI) information systems |
| Scope | Elsis PRO is developing data communication solutions to enable nanosatellites to efficiently and rapidly transmit data to the nearest ground station. The system that is in development will help find the optimal way to deliver data the fastest and to prioritise data. The system is being developed using Data Distribution Service (DDS) technology for decentralised solutions. The project is a continuation of the first phase of Galaxy, which the company completed in 2020. It is being carried out and funded under a programme of the European Space Agency. |
Software was developed using Microsoft .NET technologies for the automated Domain Name Systems (DNS) verification. It checks whether websites on the LPT's list of remote gambling sites are blocked by an internet service provider. The solution makes it easier to trace and inspect illegal online gambling sites operating in Lithuania. |
The first phase of the project is underway. The aim of the project is to upgrade the individual dosimetry module to be able to record radiation doses received by first responders and accident clean-up workers. The desire is also to significantly improve the collection, processing, and administration of data on sources of ionizing radiation and data on personnel working with those sources, and to fully digitalize the related processes of the Radiation Protection Centre. Novian Systems is implementing modern data exchange, integration, administration and security solutions and tools, and is optimizing and modernizing the register. |
Elsis PRO and partners are developing a prototype of the system. To ensure scalability and cost-effectiveness, the system is being developed on the Amazon Web Services (AWS) public cloud platform, built according to component and serverless architecture principles. The project was initiated by Lithuania's General Jonas Žemaitis Military Academy and Mykolas Romeris University and is coordinated by the Agency for Science, Innovation and Technology. It is being financed from the Operational Programme for EU Funds Investments for 2014-2020 and the European Regional Development Fund. |
Novian Systems is modernizing these VMI systems: the Taxpayers Electronic Education, Consultation and Information Service System (ESKIS), the Personal Income Tax Information System (GYPAS), the ITIS_EU information system for exchange of VAT information between EU countries, and the Integrated Tax Information System (IMIS). |
| Benefits | Once a prototype of the platform for managing exchanges of data between nanosatellites is created, decisions will be made on the system's further development and use on satellites. |
Until now such checks were carried out manually. Automation has significantly reduced the time needed and improved the quality of this work. |
The upgrade will digitalize new Radiation Protection Centre processes, enhance previously digitalized ones, and ensure their continuity. |
The system will enable the analysis of data from social media and news portals, as well as the creation and enhancement of tools to ensure the security of the information space. The AI (machine learning) "teacher student" model will help identify new information phenomena. |
The projects will enable improvement of the information systems used by the VMI in line with current needs in their regard. |
The Novian group has made full settlement in the transaction to acquire the software services company Elsis PRO. It did so on 26 May 2022, as per the agreements on the purchase and sale of the shares of Elsis PRO. The final value of the deal, at EUR 1.865 million, was determined after the preparation of Elsis PRO's audited financial statements for 2021.
In 2022 Novian Systems upgraded the Masis SMP municipal land -rent tax administration system in 41 Lithuanian municipalities served. It is made for handling the accounting for taxes (on land, property rental, etc.), fees and licences administered by a municipality, and for managing electronic services for individuals and businesses.
Companies: Novian Technologies (Lithuania), Novian Eesti OÜ (Estonia), NRD Rwanda (Rwanda) – from April 2023.
Effective 7 June, 2022 the Estonian IT company Andmevara Services OÜ has changed its name to Novian Eesti OÜ. The company continues to provide IT infrastructure and digitization services and also represents the group's other IT services and solutions.
In 2022 Novian Technologies joined the Artificial Intelligence Association of Lithuania.
In October 2022, Novian Technologies participated in the Meteorological Technology World Expo in Paris. There, the company presented a highperformance computing (HPC) solution that allows meteorologists to model climate change more accurately and make more accurate weather forecasts.
In March 2023, Novian Technologies together with software partner Zabbix organized the Zabbix Meeting Lithuania, an event to introduce the partner's solutions and services as well as Novian Technologies' services to the IT community (from managers to infrastructure specialists).
In May 2023 Novian Technologies' annual conference "Technology and Resilience 2023" was held, which focused on the topic of automation.
Novian Technologies in the 1st half of 2023 participated in Asia Climate Forum 2023 in Singapore, where presented HPC solutions for weather forecasting, climate change modeling and early warning systems.
Companies: Novian Technologies (Lithuania) Novian Eesti (Estonia) Andmevara SRL (Moldova) Zissor (Norway)
Companies, having archives
Equipment: Novian digitization centre in Estonia
| Project | Digitization of documents for the Estonian National Archive |
Digitization of the Norwegian newspaper Lister |
Digitization of a German newspaper |
PDF-to-XML conversion of French magazines |
PDF-to-XML conversion for Greenlandic publisher Sermitsiaq |
|---|---|---|---|---|---|
| Scope | Digitization of documents and creation of metadata. The project involved 4.2 million documents, including material from 14 different museums and archives all over Estonia. The project was carried out in the course of 2 years. The digitized documents are hosted on a public website. |
The project involved digitizing the newspaper's archive from 1901 to 2014, a total of 208,000 pages. It included scanning, optical character recognition, article segmentation and meta-data extraction. The project was carried out by Zissor and Novian Eesti. |
Zissor is providing ongoing PDF-to-XML conversion services for Visiolink, a supplier of digital publication solutions. The PDF format is translated into articles and metadata. Through Zissor's services, XML files and illustrations are created that can be used as e-paper solutions. |
in collaboration with Forecomm, a provider of e-paper solutions, Zissor is providing ongoing services for the conversion of PDF pages into articles and metadata which can be used as e-paper. |
Zissor is providing the ongoing service of converting the PDF pages of 7 of Sermitsiaq's publications into articles and meta-data, enabling them to be used in e paper format. |
| Benefits | All interested parties can easily and quickly access the national archive's holdings. |
The digital format will make it easier for subscribers and journalists to find and use information and ensure its long-term survival. |
This makes it easier to deliver articles, especially for reading on tablets and mobile phones. |
This makes the information easy to deliver on tablets and mobile phones. |
This encourages provision of the information on tablets and mobile phones. |
In 2022 a modern Novian group digitization centre began operating in Tallinn, Estonia. It provides a variety of technical solutions for document digitization, with five types of scanners that can scan any paper documents – from quick and easy A4 -format documents to complex large old newspapers and maps. The centre offers convenient logistics and digitization processes and results that are professional and reliable.
Zissor has finished and in the beginning of 2023 has presented for the clients the major upgrades to the Zissor Media System, which include new features like "extraction" of text from PDFs and automatic categorisation of articles using artificial intelligence.
Zissor's archive digitization software has been enhanced with the ability to digitize books.
More about Novian:
novian.lt | novian.io | novian.ee | novian.no
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