{"id":19281,"date":"2023-05-30T12:02:25","date_gmt":"2023-05-30T09:02:25","guid":{"rendered":"https:\/\/devenet.epsu.gr\/epsilon-net-47-04-increase-in-turnover-59-55-in-earnings-before-taxes-during-the-1st-quarter-2023\/"},"modified":"2024-10-17T18:11:27","modified_gmt":"2024-10-17T15:11:27","slug":"epsilon-net-47-04-increase-in-turnover-59-55-in-earnings-before-taxes-during-the-1st-quarter-2023","status":"publish","type":"post","link":"https:\/\/epsilonnet.gr\/en\/epsilon-net-47-04-increase-in-turnover-59-55-in-earnings-before-taxes-during-the-1st-quarter-2023\/","title":{"rendered":"EPSILON NET: 47.04% increase in Turnover & 59.55% in Earnings before Taxes during the 1st Quarter 2023"},"content":{"rendered":"

EPSILON NET Group of Companies<\/strong> continued successfully in the 1st quarter of 2023, the implementation of its business planning, resulting in a significant increase <\/strong>in its financial figures, which reflects its dominant position in the field of Business Software.<\/p>\n

The main financial figures of EPSILON NET Group<\/strong> for the 1st Quarter of 2023 are as follows:<\/p>\n

 <\/p>\n

Basic Financial Figures of the period 01\/01\/2023 \u2013 31\/03\/2023:<\/span><\/strong><\/p>\n\n\n\n\n\n\n
\n

GROUP FINANCIAL FIGURES
\n(in thousand \u20ac)<\/strong><\/p>\n<\/td>\n

\n

1\/1\/202<\/strong>3<\/strong>-31\/<\/strong>03<\/strong>\/202<\/strong>3<\/strong><\/p>\n<\/td>\n

\n

1\/1\/202<\/strong>2<\/strong>-31\/<\/strong>03<\/strong>\/202<\/strong>2<\/strong><\/p>\n<\/td>\n

\n

%<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Revenue<\/p>\n<\/td>\n

\n

20,782.33<\/p>\n<\/td>\n

\n

14,133.76<\/p>\n<\/td>\n

\n

47.04%<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA<\/p>\n<\/td>\n

\n

7,466.88<\/p>\n<\/td>\n

\n

4,719.12<\/p>\n<\/td>\n

\n

58.<\/strong>23<\/strong>%<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Earnings before Taxes<\/p>\n<\/td>\n

\n

6,429.39<\/p>\n<\/td>\n

\n

4,029.75<\/p>\n<\/td>\n

\n

59.<\/strong>55<\/strong>%<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Specifically, Turnover increased by 47.04%, Earnings before Taxes by 59.55%, while at the same time a significant improvement in EBITDA margin<\/strong> was achieved, which stood at 35.93%<\/strong> compared to 33.39% of the 1st quarter of 2022. The impressive growth rate in the Group’s financial figures was driven both by the significant organic growth rate (over 76%<\/strong>) and by the contribution of targeted acquisitions<\/strong> that accelerated the strategic goal of the Group’s Management for \u00aball-in-one solution\u00bb products and services, continuous expansion of market share and achievement of high final profitability performance<\/strong>.<\/p>\n

During the 1st quarter of 2023, Group’s Equity increased to \u20ac 63.61 million<\/strong>, while cash balances & equivalents amounted to \u20ac 28.97 million.<\/strong> Group, despite the investments made during this period, such as the acquisition of OROSIMO PLIROFORIKI S.A., increased its negative net debt to \u20ac10.7 million<\/strong> (while the calculation of negative borrowing has not included an amount of \u20ac3.18 million<\/strong>, invested in fixed-income securities, further increasing final net assets).<\/p>\n

 <\/p>\n

Condensed Statement of Financial Position<\/span><\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

GROUP FINANCIAL FIGURES
\n<\/strong>(in thousand \u20ac)<\/strong><\/p>\n<\/td>\n

\n

01\/01\/2023-31\/03\/2023<\/strong><\/p>\n<\/td>\n

\n

01\/01\/2022-31\/03\/2022<\/strong><\/p>\n<\/td>\n<\/tr>\n

\n

Cash and Cash Equivalents<\/p>\n<\/td>\n

\n

28,970.35<\/span><\/p>\n<\/td>\n

\n

22,828.83<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Long-Term Borrowing<\/p>\n<\/td>\n

\n

4,447.35<\/span><\/p>\n<\/td>\n

\n

11,246.22<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Long-Term Leasing Liabilities<\/p>\n<\/td>\n

\n

3,108.72<\/span><\/p>\n<\/td>\n

\n

1,568.80<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Short-Term Borrowing<\/p>\n<\/td>\n

\n

9,898.56<\/span><\/p>\n<\/td>\n

\n

6,972.82<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Short-Term Leasing Liabilities<\/p>\n<\/td>\n

\n

807.89<\/span><\/p>\n<\/td>\n

\n

651.95<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Net Borrowing<\/p>\n<\/td>\n

\n

-10,707.82<\/span><\/p>\n<\/td>\n

\n

-2,389.05<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Equity<\/p>\n<\/td>\n

\n

63,611.35<\/span><\/p>\n<\/td>\n

\n

44,712.88<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Total Employed Capital<\/p>\n<\/td>\n

\n

52,903.52<\/span><\/p>\n<\/td>\n

\n

42,323.83<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Leverage Rate<\/p>\n<\/td>\n

\n

-0.2024<\/span><\/p>\n<\/td>\n

\n

-0,0564<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Outlook for 2023<\/span><\/strong><\/p>\n

Management estimates for 2023 that both the parent company and the Group’s subsidiaries will continue to play a leading role in the digital transformation of the private sector of the Greek economy. The Group’s goal is to further expand the broad acceptance of its product and service portfolio and achieve significant growth in Turnover and customer base through organic growth<\/strong> and new acquisitions planned for 2023.<\/strong><\/p>\n

The significant increase in consolidated sales by 47%<\/strong> in the 1st<\/sup> quarter of 2023<\/strong>, is the result of the business planning developed by the Group in all markets in Greece and gradually abroad. The expansion of sales for 2023 is expected to be supported by:<\/p>\n