Turnover of Epsilon Net Group increased by 12.5% in 2018

The continuous growth path of Epsilon Net is once again reflected in the 2018 financial figures. The Group’s successful strategic plan has led to increasing financial figures and significant partnerships, while at the same time making it the largest proprietary business software company in Greece in the private sector.

Epsilon Net's turnover in the year 2018 stood at € 16.84 million compared to € 14.97 million in the same period last year, marking an increase of 12.5%.

Accordingly, earnings before tax for the year 2018 amounted to € 1.03 million, compared to € 784.4 thousand in 2017, recording an increase of 31.9%, while earnings after taxes for the year 2018 were € 1.04 million, compared to € 687.5 thousand in 2017, recording an increase of 51.5%.

This new positive outcome was mainly due to three key factors: the growth of PYLON platform for commercial and vertical applications with more than 10,000 installations, the further expansion of Payroll and HR applications that today exceed 70% of market share, as well as the continuous penetration into accounting offices serving today 65% ??of the market.

An indicative presentation of installations in companies per series of applications is listed below:

• ERP - Commercial and Mobile PYLON Series Applications:

Loumidis Coffee, Navy & Green, Panathinaikos FC, Kyknos, Audeca, Pairis, Greek-German Education, BioFarm, Gisakis Group, Sugar Word, Sweet Heart, Phytorgan, Veneta Cucine, Rivimetal, Falcon, Skouras SA Papagianni, Time Center, Liberty Group, Canaves Oia Hotel, Argyros Estate, Bark Bakery, Stand Art Design, Olive Leaf Products, PD Neurotechnology, Quality Fashion Brands Exclusive, Niki Inox, Votomos SA, Uniqueplast, Zitsa Winery, Veneziano Hotel, Naxos Agricultural Association, Greek Alykes, MTEE. SA, Astoria Hotel, EKAT BETON, Arxitex, Philoxenia Hotel, Sunseeker Hellas, GTSA - Tahmidzoglu, Forum SA, Vielfys, Solartech, 3D General Aviation Applications SA, Panionios Official Store, Rednet, Aria Hotels

• Payroll & HR Applications:

Coca-Cola, Air Liquide Hellas, Ergose, Uni-Pharma, Mothercare, Bed & Bath, Sheraton Rhodes, Belvedere Hotel Crete, Spanking Car Sales, Tsakos Columbia Ship management, Seaworld Management, Vitom, Souroti, Arcalia, Mylos Papafilis, Open Beyond Tv, Arvanitis Graphic Arts, Panathinaikos FC, Gelasakis Touristic, Lmw, Figura, Kaousis AE, Sioufas & Associates, Andrikopoulos N. & Associates, National Bank Cultural Foundation, Hellenic Center for Mental Hygiene & Research.

In 2018, the Group has also established strategic partnerships with important banking & financial organizations, which led to innovative technological projects, such as:

- Partnership with the National Bank of Greece in the PYLON e-Banking Online Services project, as well as the distribution of PYLON Commercial licenses to bank clients

- Partnership with Piraeus Bank in the rAPIdLINK project that implemented the concept of ??Open Banking and the project of E.F.T. POS that related to the Bank's EFT / POS connection to the PYLON platform applications

- Partnership with the BE Business Exchanges of the Eurobank Group and Crowel SOL in the PYLON-based MyBusiness project, aiming to provide its users with access to “homogenized” accounting services and best practices for increased economic benefits.

It is also worthwhile to note that the company's management forecasts that turnover will continue to show strong growth rates within the next three years 2019-2021 as a result of the implementation of the Epsilon Net Group's strategy.

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