More than 1 in 3 medium or large Greek companies, and specifically 35%, have outdated business software.
Also, according to the data presented yesterday by analysts Epsilon Net, the picture is similar in small to medium enterprises, while in very small enterprises and freelancers 20% use old software and 45% do not use any computer solution.
This is the great opportunity that the management of Epsilon Net sees, expecting that the wave of digital transformation that began with the outbreak of the pandemic is not only not going to subside, but on the contrary will intensify in the coming years.
“The game is starting now”, said the CEO of the company, Giannis Michos, estimating that the needs that have arisen, in combination with regulations such as the MyDATA of AADE and the electronic invoices but also the subsidies of the Recovery Fund for the digital modernization of Greek companies, create strong prospects for the purchase of business software in the coming years.
The management of the listed company estimated that the group can play a leading role in the digital transformation of the private sector, utilizing, among other things, its 75% market share in the market of accounting offices that support more than 750,000 micro, small and medium enterprises in Greece.
The target is 75 million euros in revenue
Having more than doubled its revenue in 2021 compared to 2020, Epsilon Net has set the revenue target for 2022 at 75 million euros, ie 25 million euros more than last year.
According to the management of the listed company based on the sales trend in the first quarter, the above estimate is confirmed, while the EBITDA margin to move above 30% on turnover.
Mr. Michos stated that as in previous years, this increase in revenue will come from a combination of organic growth and acquisitions that will either add a new service or access to some vertical markets.
“After the investments we made in 2020 and 2021, we will continue with additional acquisitions. All our investments are pieces of a puzzle that aims to be able to offer all-in-one solutions,” he said.
The development director of Epsilon Net, Fotis Romoudis stated that the next moves, mainly in Greece but also abroad, will be made very carefully.
“Looking at a possible acquisition for us, it is very important to look at the team behind the company, and the experience it has,” he said, while answering a question from an analyst, he said that the acquisitions of Greek IT companies are now made with increased multipliers.
It is recalled that in 2021 the acquisition of Singular Logic by Space Hellas and the completion of the acquisitions of Technolife, iQom and PCS were completed. Last January, it successfully completed the acquisition of CSA SA leader in the field of software for pharmacies and drugstores.
Read also:
– Epsilon Net: Financial results and prospects for 2022 presented to analysts
Source: Capital
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