Press releases Corporate
15 Sep 2020

Growth continued: novomind Group generates over EUR 46 million in revenues and is optimistic about the future

Hamburg-based software developer again grows at double-digit rate in 2019 / Revenues up 10%; more than 20 new customers in Commerce and Customer Service / Positive forecast for 2020 despite COVID-19 influence

The Hamburg-based novomind Group successfully concluded the financial year 2019. The Group reported a consolidated total output (sales incl. changes in inventories and other related income) of EUR 46.4 million (2018: EUR 42 million). The 10% increase means that novomind reached the double-digit growth target for the 14th consecutive time. The Group’s main growth driver is novomind AG, which generated revenues of EUR 39.5 million (2018: EUR 34 million), an increase of 16 percent. Contributions to the Group result were also made by novomind management group GmbH, piazza blu² GmbH and novomind iSHOP GmbH.

More than 20 new customers were won across all of the Group’s business units in 2019. Among the new key accounts are Hawesko (Hanseatisches Wein und Sekt Kontor), Renault Bank direkt, the FALKE Group, Telecom Egypt and Swiss travel and outdoor retailer Transa, as well as numerous other fashion brands, online mail order companies and insurers. Moreover, all activities relating to the booming messaging business have been pooled in novomind messaging GmbH, a wholly-owned subsidiary of novomind AG.

The headcount was also expanded, with novomind AG now employing around 350 people (2018: 300) and the novomind Group as a whole employing a team of roughly 400 (2018: 360). The Rostock branch deserves special mention in this respect; established in 2018 with a team of 10, the branch more than doubled its staff as planned to 22 in 2019.

The expansion of the international novomind partner network, which was defined as one of the company’s top priorities in 2019, is also making progress. Today’s network of 20 implementation partners means that their number has quadrupled compared to the start in 2019 (5 partners).

novomind intends to continue growing in its anniversary year 2020 in spite of COVID-19

2020 is an exceptional year in many respects. The coronavirus pandemic is causing states of emergency across the globe and in nearly all sectors. novomind nevertheless remains optimistic about the future and intends to continue growing in the year of its 20th anniversary. “We have mastered the coronavirus crisis very well so far,” said Peter Samuelsen, founder and CEO of novomind. “This obviously also has to do with our service and product portfolio. We develop intelligent software solutions for commerce and customer service with the aim of contact avoidance – i.e. staying in contact with others through communication without having to physically contact them.” What was originally primarily developed for service and contact centers is being used by more and more enterprises and institutions as they aim to digitalize their processes. While messaging, video telephony, chat bots and artificial intelligence (AI) have long since become part of the day-to-day life of businesses and society, the COVID-19 pandemic has given digitalization an extra boost.

After a strong first quarter of 2020, novomind’s employees spent most of the lockdown working from home – a challenge for infrastructure and business development that continues to this day and has been successfully mastered to date. “In a truly remarkable act of cooperation with our customers, we were able to complete numerous project go-lives on time during this time while working from home,” said Samuelsen. “That was a real acid test – which we passed successfully together with our customers.”

This is another reason why Samuelsen is optimistic. “We will continue to pursue our growth strategy and expand our international partner network – in spite of the coronavirus. In the global market in which we operate with our software, our partners are key to our success.” What’s more, as an independent product developer, novomind is able to respond quickly to different requirements and is internationally flexible with the help of its partners.

novomind products are used in the areas of online commerce, product information management (PIM), international marketplace integration and customer service. Customers include organizations and institutions from all sectors and categories – from government agencies, financial services providers and midsized companies to international brands and corporations.