{"id":22215,"date":"2023-10-04T14:50:05","date_gmt":"2023-10-04T11:50:05","guid":{"rendered":"https:\/\/devenet.epsu.gr\/analyst-briefing-consistent-execution-of-the-2023-2025-business-plan-with-a-final-revenue-target-of-e150-million\/"},"modified":"2023-10-04T14:50:05","modified_gmt":"2023-10-04T11:50:05","slug":"analyst-briefing-consistent-execution-of-the-2023-2025-business-plan-with-a-final-revenue-target-of-e150-million","status":"publish","type":"post","link":"https:\/\/epsilonnet.gr\/en\/analyst-briefing-consistent-execution-of-the-2023-2025-business-plan-with-a-final-revenue-target-of-e150-million\/","title":{"rendered":"ANALYST BRIEFING: Consistent execution of the 2023-2025 business plan, with a final revenue target of \u20ac150 million"},"content":{"rendered":"

Following the release of the Financial Statements for the 1st<\/sup>\u00a0Semester of the year, EPSILON NET Group held via teleconference on Tuesday, October 3rd, the “Analysts’ Briefing”, during which analysts, institutional investors and journalists were presented with the Financial Results of the period, the actions to strengthen internal processes and the Group’s prospects for 2023-2024.<\/p>\n

During the meeting, Group’s financial figures were presented in detail, according to which\u00a0Turnover<\/strong>\u00a0increased by\u00a035%<\/strong>\u00a0in H1 of 2023 with sales amounting to \u20ac41.62mln. compared to \u20ac30.75mln. of the corresponding period of last year and\u00a0Adjusted EBITDA<\/strong>\u00a0at \u20ac14.17mln. for \u20ac10.74mln.\u00a0Cash & Cash Equivalents<\/strong>\u00a0amounted to \u20ac\u00a032.17min<\/strong>, long-term debt amounted to \u20ac 11.84mln,\u00a0positive net cash to \u20ac 14.3mln.<\/strong>, Group’s Equity amounted to \u20ac 68.83mln. and\u00a0organic growth<\/strong>\u00a0for that period was 77%.<\/p>\n

Group\u2019s executive team, commenting on the effect on the Group\u2019s Financial Results from\u00a0<\/strong>the application of\u00a0IFRS 2\u00a0<\/strong>regarding the\u00a0Stock Option Plan<\/strong>, noted that as confirmed in practice by the results of the first half of 2023, this accounting treatment does not change Group’s growth prospects in the slightest.<\/p>\n

At the same time, it was clarified that after the completion of the existing Program of 1,600,000 stock option rights, no other Share Option Program will be established.<\/p>\n

Additionally, Chairman & CEO of the Group, Mr. I. Michos, stated<\/p>\n

\u201cWe are ready to\u00a0take the appropriate actions in order to strengthen the proper level of organization and operation of our Group and upgrade our overall efficiency<\/em><\/p>\n

Based on the current legal and institutional framework, we are working on the methodology needed\u00a0to appoint a new auditor.\u00a0<\/strong>Due to our next steps of expansion abroad,we intent to cooperate, with one of the\u00a0major international audit firms.<\/strong><\/em><\/p>\n

 <\/p>\n

We\u2019ll strengthen our Board of Directors, with a new\u00a0independent member<\/strong>, with high knowledge and expertise in the fields of Finance Accounting and Corporate Governance.<\/em><\/p>\n

We will start a process of evaluating all internal procedures and the project implementation methodology we apply. To achieve this goal. We are going to cooperate with a specialized consulting team that will start a\u00a0GAP analysis\u00a0<\/strong>of all our procedures applied at all levels in the fields of Operations, Accounting, Financial Management, Corporate Governance and ESG principles.\u201d<\/em><\/p>\n

 <\/p>\n

Outlook<\/strong><\/p>\n

In relation to the Group’s prospects for the period 2023-2025, it was clarified by the Management that its planning includes 5 main areas:<\/p>\n

1) Increase revenue through organic growth<\/p>\n

2) Development of the Group’s operations through targeted acquisitions<\/p>\n

3) Expansion into vertical markets<\/p>\n

4) Expansion of operations in the fields of Fintech and Embedded Finance through the strategic partnership with NBG<\/p>\n

5) Gradual expansion abroad<\/p>\n

Finally, Group’s management, following the strong results of the 1st<\/sup>\u00a0Semester, stated that implements with consistency<\/strong>\u00a0its business plan for 2023 \u2013 2025, which forecasts total sales of\u00a0\u20ac150mln<\/strong>. for 2025, i.e. doubling compared to 2022 sales, while achieving high profitability, with EBITDA margin moving above\u00a030%.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Following the release of the Financial Statements for the 1st\u00a0Semester of the year, EPSILON NET Group held via teleconference on Tuesday, October 3rd, the “Analysts’ Briefing”, during which analysts, institutional investors and journalists were presented with the Financial Results of the period, the actions to strengthen internal processes and the Group’s prospects for 2023-2024.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[],"class_list":["post-22215","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"yoast_head":"\nANALYST BRIEFING: Consistent execution of the 2023-2025 business plan, with a final revenue target of \u20ac150 million | EPSILONNET<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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