Epsilon Net
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Epsilon Net (EPSIL) investor relations material

Epsilon Net has been acquired

Epsilon Net H2 2023 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2023 earnings summary21 Mar, 2024

Executive summary

  • 2023 revenue rose 24.13% YoY to €93.23m; earnings after taxes increased 58.87% to €20.02m under IFRS reporting.

  • Growth reflected stated organic growth of 60% and contributions from targeted acquisitions, supporting the 2023–2025 plan.

  • Strategic priorities include integrated business software solutions, market-share expansion, higher profitability, and gradual expansion abroad.

Financial highlights

  • Revenue was €93.23m in 2023 versus €75.11m in 2022, up 24.13% YoY.

  • Earnings after taxes were €20.02m versus €12.60m, up 58.87%; reported figures include IFRS 2 stock-option fair-value accounting.

  • Excluding IFRS 2 stock-option accounting, earnings after taxes were €21.93m versus €18.30m, up 19.82% YoY.

  • Adjusted EBITDA, excluding IFRS 2 stock-option accounting, was €31.08m versus €25.05m, up 24.06% YoY.

Outlook and guidance

  • Sales growth is expected to continue in 2024 and 2025, supported by POS interoperability, Digital Working Card expansion, B2G e-invoicing, and National Bank collaboration.

  • Priorities include strengthening integrated solutions and vertical offerings in Hospitality, Pharmacy, Retail & Fuel, and expanding in Cyprus, Romania, and through Epsilon Hospitality online sales.

  • Management expects the 2023–2025 plan, strategic cooperation with National Bank, and acquisitions to support further development in Greece and abroad.

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    Frequently asked questions

    Epsilon Net S.A. is a leading Greek company in the field of Information Technology, focusing on software development, digital content creation, and professional training services. Founded in 1999 by Ioannis Michos, Epsilon Net has grown to become a key provider of integrated business solutions, particularly for the financial and accounting sectors. The company's diverse product portfolio includes business management software, payroll and human resources applications, and specialized software solutions designed to meet the specific needs of various industries. Epsilon Net S.A. operates through its subsidiaries, including Epsilon Net Software, which focuses on software solutions; Epsilon Net Network, responsible for the distribution network; and Epsilon Net Training, offering a wide range of educational programs and training services. . The company is headquartered in Thessaloniki, Greece, and its shares are listed on the Athens Stock Exchange.