Strong Relationships, Sustainable Growth – Reflections from the CEO
This is the CEO’s message from Novotek’s Annual and Sustainability Report 2024.
Another year has come to a close, and once again Novotek has expanded its geographical reach while also increasing both revenue and profit. Our clear focus on collecting, modelling, storing, visualising and analysing industrial data in all its forms continues to prove its strength. Internally, our journey to ensure we can grow geographically, in terms of talent and in what we offer, without losing momentum, efficiency or flexibility, is also ongoing.
The acquisition in Austria, the sale of ROB-EX, and changes to our accounting principles should all be seen in this light. Novotek has a clear ambition: to be a significantly larger company by the time we celebrate our 40th anniversary in 2026. We firmly believe in long-term relationships with our customers, our people and our partners.
“It is through long-term relationships that trust is built and strengthened, leading to great results and profitable business.”
It is through long-term relationships that trust is built and strengthened, leading to great results and profitable business. The extension of our agreement with GE Vernova for another three years, and the sale of our share in ROB-EX to them, are excellent examples of this. Both deals bring significant benefits to GE Vernova and Novotek and ultimately to our shared customers. In the case of ROB-EX, not only can we continue to sell the product in all our markets, except Denmark, but now with the GE Vernova brand behind it, we’re able to approach entirely new types of customers. GE Vernova will also invest in further developing the product, which will in turn benefit Novotek’s continued journey.
Austria, France and Germany
Our geographic expansion continued in 2024 with the launch of a company in France and the acquisition in Austria. That acquisition also gave us the majority stake in a company in Germany, where we had previously been a co-owner. Together, these developments provide a more stable platform in the DACH region and a springboard for further growth. In broader terms, 2024 marks the year in which Novotek established coverage across all Western European countries north of the Alps. Selective acquisitions will remain a strategic priority to further strengthen our market position.
The market situation in 2024 has been turbulent, with significant variation across regions, industries and time periods. This is likely the new normal, and Novotek is well prepared. Encouragingly, investments in the types of solutions we offer appear to continue, even as companies aim to cut costs and improve efficiency. This likely stems from a fundamental need: all businesses today must manage their digital flows, make use of the data they have, and apply insight and analysis to identify efficiencies and solve the challenges they face.
Novotek has moved in the right direction
Looking back, I see another year in which Novotek has moved in the right direction. Perhaps most exciting is the sense that we’ve only just begun to tap into the opportunities ahead of us. What’s even more energising is the feeling that companies are now ready to accelerate their investments in digital manufacturing solutions. That’s why I’m truly looking forward to 2025.
/ Tobias Antius
Chief Executive Officer, Novotek Group
