NOV Group's Convention discusses Inovation

News date: 12 April 2019

The NOV Group held its annual Convention on April 12th. The event was attended by more than 130 employees with the goal of discussing the theme of innovation

The first moment of the Convention, exclusively for employees, took place at the Eurosol Hotel in Leiria during the afternoon, presenting the synthesis of the performance of 2018 and discussing the goals for 2019/2023 of the main activities and markets.

The CEO of the NOV Group, Joaquim Paulo Conceição spoke about the transformation that is intended for the next couple of years, that in a first stage in 2019, should lead to a turnover of 300 million euros, an EBITDA of 30 million euros and a net income of 11 million euros. By the year 2023, the transformation should be more radical with more than 600 million euros in turnover, around 100 million euros of EBITDA and more than 50 million euros in results, and above all, a reduced total gross debt by more than 500 million euros of the current value.

The Convention’s afternoon also had several moments of relaxation provided by the employees of the various companies of the Group.

In the evening, the NOV Group held its Gala Dinner at the space of LPM in Leiria. In addition to the various employees, some external guests were also present namely: Gonçalo Lopes, Vice-President of the Municipality of Leiria, Ana Sargento, Vice-President of the Polytechnic Institute of Leiria, and António Poças, President of the NERLEI Board.

Following the motto of iNOVation and in the context of the idea contest that the NOV Group held in 2018 were presented trophies to four employees who submitted the best ideas. These employees will be able to see their ideas applied in 2019 and will be entitled to a total monetary prize of 3,000 euros.

In addition, the three best Executive Commissions were honored and awarded with trophies for recognition to the Top Management team that recently bet on other professional challenges outside the NOV Group of their excellent performance in 2018.

The Gala Dinner was also attended by lyricist Mayya Rud who currently lives in Leiria, and who charmed everyone who was present with her voice and soul singing songs like Hallelujah, Adagio, Sole Mio or Time to Say Goodbye.