Epsilon Net announced an increase in turnover, EBITDA and net profits for the first quarter.
In particular, the turnover amounted to 14,133.76 euros compared to 8,067.73 euros in the corresponding quarter last year, recording an increase of 75.19%. At the same time, EBITDA amounted to 4,719.12 euros against 2,689.31 euros, recording an increase of 75.48%, while net profit before taxes was at 4,029.75 euros against 2,235.49, increasing by 80.26%.
As mentioned in the relevant announcement, the high growth rates are a result, both of the dynamic organic growth of Epsilon Net (increase + 36%), and of the contribution of the targeted acquisitions implemented by the Group in 2020-2021 and continues in 2022.
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 creates an ecosystem of added value “all in one solution” and creating a comprehensive portfolio of products and services, aims 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) The leverage of 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 grant rate of 70% and a total budget of € 180,000. .000.
Source: Capital
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