NOVELIC announces 2018 results and presents 2018 operations overview

NOVELIC is proud to announce the 2018 revenue showing 67% increase and profitable operations.

“With the revenue increase of over 67% in 2018, CAGR of 72% over a five-year period, 2013-2018, and a gross margin larger than 20%, NOVELIC proves a continued profitable growth trajectory. A strong capability to deliver ensures the basis for a long-term high-tech cooperation with partners. One new multiB€ turnover customer has been won in 2018. NOVELIC technologies and expertise in automotive radar sensor area have significantly contributed to its revenue. Newly introduced design services in mechanical engineering, such as design of e-motors and housing, proved to be a success. Internal R&D efforts have strongly been enhanced and backed by successful IP protection strategy. The company operational capability with cross sectional organisational structure, was significantly improved, enabling future growth and smooth operations at more than one design locations” Mr Darko Tasovac, Novelic Chief Executive Officer explains.

NOVELIC is a Belgrade based high tech private ltd with a strong design team in: system design, analogue & digital integrated electronics, signal processing, mechanical engineering and embedded design for industrial & automotive & health care & smart home markets. Novelic designs technologies for mm-Wave radar sensors and has three granted patents and more than 6 pending ones for a short range radar sensor applications.

For more information:
Dr Veselin Brankovic, CMO
E-mail: info@novelic.com
Belgrade, 19/02/2019