Navigation software provider NNG reported revenue growth of over 46% in 2013
In addition to the 2013 financial figures, NNG’s substantial increase of staff and international awards further demonstrate how the Hungary-based company has achieved significant success on a global scale.
NNG LLC’s financial numbers reveal extraordinary growth: the company that develops the iGO Navigation solution has seen revenue grow by 46% compared to last year. This figure is especially remarkable considering that the company’s revenues come primarily from license fees.
Last year the company saw a 43.5% increase in its gross profit compared to 2012, while its operating profits in the last year increased by nearly 70%. The company’s growth is also reflected in the year-over-year expansion of staff, particularly the addition of employees who work in the company’s core business sector: technology. The software provider plans to fill 180 new vacancies in the near future, most of which with highly qualified developers and programmers. The staff could number well over 700 employees by the end of the year, which would be a 20% increase for the third year in a row.
This financial success and workforce expansion is owed to the company’s “Navigation for All” strategy, which is aimed at providing affordable navigation on a global scale, from premium category vehicles to lower category vehicles. This approach was initially questioned throughout the industry; however, NNG’s vision has proven to be an industry game changer, as evidenced by yet another prestigious award. A jury of influential European decision makers recently recognized NNG’s strategy as the best among 17,000 European companies who competed for recognition at the European Business Awards.
