Epsilon Net: More than double sales and profit jump in 9 months

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The Epsilon Net group recorded more than double sales and an even bigger surge in profits in the first nine months of 2021.

As detailed in the relevant corporate announcement, “the Group’s turnover in the nine months of 2021 amounted to € 28.56 million compared to € 11.50 million in the nine months of 2020, recording an increase of 148%, Profits before Taxes, Interest and Depreciation (EBITDA) of the Group amounted to € 7.83 million compared to € 2.47 million in the corresponding period of 2020, (+ 217%), while Earnings before Taxes increased by 354% amounting to € 5.53 million. € against € 1.22 million in the same period of 2020.

φδγδφIt should be noted that in the financial results of the 3rd Quarter 2021 the results of Data Communication & Technolife are fully consolidated, as well as the results of the newly established Epsilon SingularLogic (based on the completion on 14/7/2021 at the legal level of the split and contribution process corresponding branch by Singular Logic). The results of the newly acquired company IQom specializing in the field of Retail participate in the results of the Group from 14/9/2021 (date of acquisition of the company) onwards.

The liquidity of the Group, provides the possibility of implementing new business transactions and utilization of investment opportunities, moving to very satisfactory levels (Cash and Equivalents 18.12 million euros), despite the significant acquisitions that have been repaid in full during the last quarter. 2020 and the first nine months of 2021, amounting to over 18 million euros (Data Communication, SingularLogic, Technolife, iQom).

Furthermore, during the nine months of 2021, the Group’s Equity (+ 69.7%) increased significantly, amounting to 34.04 million euros.

Estimation of the potential effects due to COVID-19 & the increase in energy costs

The EPSILON NET Group, since 2020, has FULLY adapted its operation and SUCCESSFULLY faced the difficulties that arose from the consequences of the pandemic due to COVID-19, utilizing the appropriate technologies and infrastructure that it has developed for remote work, ensuring to the maximum extent the health of the employees, while maintaining the high quality of the services provided to customers and partners. The increase in the cost of energy and raw materials is not expected to affect the operation of the company, since due to the nature of its field of activity, they do not participate in production costs, in the development of new products and in the provision of services.

The achievement of strong growth rates in both 2020 and 2021, proves the adaptability and flexibility of all the companies of the Group, strengthening the prospects for the continuation of its significantly positive course and for the whole of the current year.

During the third quarter, the Group consistently continued the implementation of its investment plan, utilizing its know-how and its important position in the field of business software. In September, the subsidiary of the Epsilon SingularLogic Group, acquired an 80% stake in iQom, which is active in providing specialized IT solutions to companies in the private sector.


The total of products, services and activities of the Group, recorded an impressive increase in sales during the period January-September 2021, continuing the excellent course of the first half and strengthening the management’s estimate for a strongly dynamic year, which will be a milestone year. for the start of a new development cycle and the basis for the further expansion of the Group, both in the domestic market and abroad.

Within the nine months of 2021, both the spin-off and the integration of the private proprietary software sector of Singular Logic in the newly established Epsilon SingularLogic, as well as the corporate transformation of the Group and the operational integration of the of the departments that came from the strategic acquisitions of 2020 & 2021. The operational and operational integration of different departments & specialized working groups, contributes decisively to the achievement of economies of scale and is the basis for the improvement of the operating margin, while it is also the integrated utilization of future acquisitions.

Catalytic effect on the dynamic development of the Group, has the continuous utilization of cutting-edge cloud technologies, mobility that are integrated especially in the innovative software platforms Galaxy and Pylon, which give a significant technological advantage to the Group’s products and services for medium and large companies and business groups.

At the same time, the Group’s dominant position in the field of e-invoicing and myDATA e-books of AADE, in combination with the expanded portfolio of web applications of the EpsilonSMART series for very small & small businesses and for freelancers, have contributed significantly to its further expansion. with a large customer base, with the number of active facilities of the Group, from 30,000 facilities at the beginning of 2020, to today number over 100,000 active facilities, which are the starting point for achieving a significant degree of annual recurring revenue and the basis for its continuous and uninterrupted growth course.

At the same time and guided by its integrated contribution to the Digital Transformation of the private sector, it systematically monitors the developments in the level of new financing possibilities that will arise in the near future from the financial tools of the “Recovery and Sustainability Fund” & the “NSRF 2021-2027” and has strategically prepared structures & collaborations (which will be gradually scaled from the first quarter of 2022) to make the most of the business opportunities created by the new conditions of the digital economy worldwide.

The Epsilon Net Group of companies continues in the last quarter of 2021 to consistently and consistently implement its strategic planning for the systematic expansion of its customer base and the technological solutions it offers, both horizontally and in dynamic vertical markets in Greece. creating an integrated ecosystem all in one solution, while also planning the gradual development of its operations abroad.

Mr. Ioannis Michos, Founder of the Group, Chairman of the Board of Directors & CEO of EPSILONNET, commenting on the results, made the following statement:

“Going through the last months of 2021, a milestone year for our Group, I feel that we have succeeded in laying the foundations for a new creative cycle with strong growth rates.

Our leading role in the digital transformation of the Private Sector, is proven daily by the acceptance of all products and services we have developed for electronic invoicing and business adaptation to myDATA but also by the excellent course of Web applications of the EpsilonSMART series.

The Group is at its most mature moment, in relation to the experience & know-how of our people, with the level of technological choices and our constant investments and in relation to its ever-increasing dynamics for the future.

In the large family of companies of the Epsilon Net Group, guided by the anthropocentric approach, the corporate vision and the dedication to our customers, we continue with consistency and continuity all together to create the next day. We methodically build a group based on the all in one solution, creating a strong working relationship with our customers. We contribute decisively to the digital transformation. Our goal is to have the corporate size that inspires security in customers in the ever-changing business and technological environment with the successive legislative changes but at the same time to maintain the flexibility to personally see the needs of each
customer separately.

Our strategy remains to generate daily value for our people, our partners and our shareholders.

The results of the nine months of 2021, reward us and give us the strength and the responsibility to continue our development course as the largest software Group for businesses in Greece “.


Source From: Capital

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