Basic Financial Results – 3rd Quarter 2020

Following the letter of the Hellenic Capital Market Commission dated 18/11/2020, EPSILON NET Group announces the basic financial figures and the evolution of its business activity during the third quarter of the fiscal year 2020.

Basic Financial Figures 1/1/2020 – 30/9/2020:

Basic Financial Figures 1/7/2020 – 30/9/2020:

Group Revenue in the nine month period of 2020 amounted to € 11.50 million compared to € 10.26 million in the nine month period of 2019, recording an increase of 12.15%, Group EBITDA amounted to € 2.47 million compared to € 2.09 million in 2019, recording an increase of 17.96%, while Net Profit before Taxes increased by 61.19% amounting to € 1.22 million compared to 0.75 million in the same period of 2019.

Group Revenuein the third quarter of 2020 amounted to € 3.06 million compared to € 2.39 million in the third quarter of 2019, recording an increase of 28.17%, Group EBITDA amounted to € 0.64 million compared to € 0.53 million in the same period of 2019, recording an increase of 20.57%, while Net Profit before Taxes increased by 94.65% amounting to 0.23 million € compared to 0.12 million € in the same period of 2019.

Basic Figures of Financial Position

From the comparison of the financial figures of the current period with the corresponding figures of 2019, Group moves forward with positive pace and increases its financial performance in this difficult situation of COVID-19 pandemic for the domestic and global economy, due to the following factors:
a) During the restrictive measures, the tendency of companies to acquire and use information systems based on web and cloud technologies that ensure the operation of the business remotely, increases. Group investments made in recent years meet the above needs of companies, resulting in increased demand for these products and services,

b) The Certification received by the Group for e-invoicing products and services in August 2020, ranks it among the first choices of companies for their harmonization with the new obligation of the e-books myData from the Tax Authorities in Greece,

c) Software applications and services of the Group are important for the daily operation of companies, as absolutely necessary tools in order to continue their operation and the exchange of data with the Greek authorities,

d) Group has a strong client base, with over 30,000 active customers, covering a wide range of domestic market activities. This results to non-significant exposure to major negative changes that may occur due to COVID-19 in certain sectors of the Greek economy.

In addition, EPSILON NET Group, heavily invested in technologies and equipment that guarantee maximum security in data management, designed and implemented policies & procedures of complete remote work, without changing high level of communication / support with customers and their external partners. Today, almost all of the employees work consistently and successfully from home and the operation of all Group companies, continues efficiently.

Group's products and services are enhanced by the impact of measures for the financial consequences of COVID-19, as their utilization by companies and accounting departments and offices, requires up-to-date information systems, with immediate adaptation to the constant changes of Labor, Insurance and Tax Laws.

The strategic position of the Group in the market is expected to be further strengthened, through important deals, such as the acquisition of 80% of Data Communication in October, as well as the acquisition agreement of Singular Logic SA. , by EPSILON NET and SPACE HELLAS equally, in November.

Strong liquidity and adaptability shown by the Group in similar crises, creates optimism that the new wave of the pandemic will be addressed successfully.

See also

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Announcement for the Completion of Acquisition of SINGULARLOGIC

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