Implementing its business planning, the Epsilon Net group recorded strong growth in all its financial figures in the first quarter of 2022, consolidating its leading position in the field of Business Software.
According to the company announcement, an overall increase of 75.19% in turnover was recorded, an increase of 75.48% in EBITDA and an increase of 80.26% in pre-tax profits.
These high growth rates of financial figures are a result of both its dynamic organic growth (increase + 36%), and the contribution of targeted acquisitions that the group implemented in 2020-2021 and continues in 2022, it is typically reported.
The financial results confirm in the current year the strategic choices of the Group for:
– focus on the digital transformation of the Greek economy
– high rates of organic growth based on the continuous evolution of the product portfolio with all in one solution
– emphasis on growth and through targeted acquisitions, further strengthening of the customer base & penetration in vertical markets.
During the first quarter of 2022, the Group’s Equity increased to 44.71 million euros, while cash and cash equivalents amounted to 22.83 million euros.
Perspectives
The group with strategically designed moves is creating an ecosystem of added value “all in one solution” and creating a total portfolio of products & services, aiming on the one hand to continuously expand the customer base and in addition to increase the final revenue per customer.
The significant increase in the 1st quarter is a strong starting point for the continuation and despite the special & demanding conditions that have been created in the global & Greek economy, it confirms the management’s estimate for an increase of + 50% of annual revenues compared to 2021 and EBITDA margin in annual basis higher than 30%.
The number of active customers of the Group is now over 105,000, while the successful integration of the new subsidiaries and the operational integration of various departments, contributes significantly to the achievement of economies of scale and the improvement of the operating margin.
Significant impact on the results of the group are expected from:
1) the continuation of the implementation of the targeted acquisitions program. It should be noted that the Group presents particularly significant liquidity and negative net debt despite the continuous investments, acquisitions and the recent acquisition of privately owned facilities at the Group’s headquarters.
2) the increase of annual revenue per customer, due to the new products & services presented
3) leverage the programs of the Recovery Fund for the private sector, such as the action “Digital Business Transformation” and more specifically the program “Digital SME Tools” which is expected to start in June, with a subsidy rate of 70% and total budget support of € 180,000 .000.
The management of the Group, being the leading Business Software company in Greece, consistently continues the execution of the business plan for 2022 and expects the further development of the customer base, the financial results & the high liquidity to accelerate the dynamics of the Group and to constitute the driving forces for the start of a new development cycle in Greece and abroad.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Giannis Antetokounmpo Invests in AI Video Production Platform
The platform, founded in 2021 by Victorien Tixier and Xavier Green, automatically tags and organizes content, allowing teams to speed up distribution to broadcasters, sponsors, and even the athletes themselves
Greece’s Industrial Production Rises 5.8% in December
For the entire year, the average General Index of Industrial Production increased by 5.2% in comparison to the corresponding period in 2023.
Study Shows Athens Traffic Congestion Up
On average, car drivers and their passengers who venture out onto Greater Athens’ roads will spend roughly half an hour in the vehicle to cover a distance of 10 kilometers
Judge Blocks Elon Musk’s Team from Accessing Treasury Payment System
Judge blocks Elon Musk’s team from Treasury access over security risks and potential misuse of federal payment data.
Make Europe Great Again in Madrid
Far-right leaders rally in Madrid to 'Make Europe Great Again
Seismologists Cautiously Optimistic as Aegean Earthquake Activity Evolves
Seismologists grow increasingly optimistic as Aegean earthquake activity shows signs of decline
Earthquakes Continue to Shake the Cyclades, Experts Monitor Declining Activity
Ongoing earthquakes rattle Greece's Cycladic islands, but experts believe activity may be slowing.
Santorini Earthquakes Might Affect Greek Tourism Revenue: NBG Report
The areas directly affected by the tremors account for approximately 4% of both the country's annual tourism revenues and the total annual turnover in the accommodation and food service sectors
Greek Trade Deficit Surges to €34.6 Billion in 2024 Amid Export Decline
Conversely, numbers indicate that exports declined, totaling to 49.90 billion euros in 2024, down from 51.02 billion euros in 2023 marking a 2.2% decrease.
Culture Ministry Takes Action to Protect Santorini’s Antiquities
So far, no damage has been reported to the island’s cultural heritage, with exhibits already safeguarded. Meanwhile, the Greek Ministry of Culture held an emergency meeting on February 6.
![Ηλεκτρική ενέργεια: Αυξήσεις στα τιμολόγια Μαρτίου δείχνει το ράλι του φυσικού αερίου [γράφημα]](https://www.ot.gr/wp-content/uploads/2025/02/shutterstock_679399249-90x90.jpg)
![Αεροδρόμια: Οι πιο δημοφιλείς προορισμοί για τους ξένους τουρίστες [γράφημα]](https://www.ot.gr/wp-content/uploads/2023/05/el.venizelos_aerodromio_680562846-1-90x90.jpg)
![Ηλεκτρική ενέργεια: Αυξήσεις στα τιμολόγια Μαρτίου δείχνει το ράλι του φυσικού αερίου [γράφημα]](https://www.ot.gr/wp-content/uploads/2025/02/shutterstock_679399249-600x400.jpg)
![Επενδύσεις: Πόσο στηρίζουν το ελληνικό ΑΕΠ – Τι δείχνει μελέτη της Alpha Bank [γραφήματα]](https://www.ot.gr/wp-content/uploads/2023/12/ot_artificial_ependyseis-600x352.png)
