InnoWave grows 45% in 2013

InnoWave, a Portuguese IT Company with strong international focus, has just announced its financial results for 2013 and outlook for 2014. In 2013, the company achieved a turnover of €4.5 million (€450.000 from the Belgian office), a 45 per cent increase over the €3.1 million in previous year.

The Consulting area represented 74 per cent of InnoWave’s business: Multimedia (Interactive Television and Mobile) with 16 per cent, BSS (CRM and Billing) and OSS (Network Provisioning and Service Fulfilment) with 25 per cent. The Product Area represented 26 per cent of the Portuguese IT Company business in 2013.

Last year, the international business represented 45 per cent of revenues. The two main export destinations were Canada and Belgium and, in terms of regions, USA/Canada and Europe represented 100 per cent of international turnover.

Regarding Human Resources (HR), InnoWave closed last year with 112 employees. According to the Exame/Accenture ranking, InnoWave was considered, for the third year in a row, one of the 100 Best Companies to Work in Portugal. In terms of structure, InnoWave divided its organization in two main areas – Operational and Strategic – and reinforced the Business Development and Product Management areas.

2013 was also marked by the launch of yubuy (TV commerce solution) at ZON and MEO platforms, joining Vodafone and achieving more than 1.5 million homes; the launch of “5 Para a Meia Noite” 5i App (the first 2nd Screen App in Portugal); and the implementation of InnSpect (test automation solution) at ZON.

For this year, InnoWave expects a turnover of €5.9 million (consolidated from the Portuguese and Belgian offices), close the year with a team of 135 employees and open the second office across borders (in the USA or Middle East). InnoWave also expects to launch a Skills Centre in Portugal – the InnoWave Centre of Expertise (ICE), being currently evaluating several possibilities for its location.

Also in 2014, InnoWave will launch a Software Testing Outsourcing offer, through the ICE, and will continue to invest in Interactive TV. In terms of marketing, InnoWave will participate in the major International events focused on interactive TV (TV Connect in London, IBC in the Netherlands, Sigma Evolve in New Orleans and an event in Dubai).

“We are going to reinforce our investment in internationalization, especially in mature and evolved markets. InnoWave wants to differentiate itself by its Excellence and Innovation, competing with the major global players, through solutions that improve people’s life”, highlights Tiago Gonçalves, Managing Partner of InnoWave Technologies.

Posted by on May 12 2014. Filed under Business, Press Releases, Results.

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