EPSILON NET Group: Key Financial Figures Q1 2024
EPSILON NET Group of Companies, continued in the Q1 of 2024, the implementation of its business planning, resulting to an increase in its financial figures, which reflects its dominant position in the field of Business Software
The main financial figures of EPSILON NET Group for the 1st Quarter of 2024 are as follows:
Key financial data for the period 01/01/2024 – 31/03/2024
after applying accounting treatment based on the "fair value" method for Stock Options according to IFRS 2
|
GROUP FINANCIAL FIGURES (in thousand €) |
01/01/2024-31/03/2024 |
01/01/2023-31/03/2023 |
Change |
|
Revenue |
27,718.98 |
20,782.33 |
33.38% |
|
Earnings before Taxes* |
7,896.71 |
5,527.42 |
42.86 % |
It is noted that the Group's financial results at 31/03/2024 have been burdened by the fair value measurement of stock options under IFRS 2 with the amount of €0.30 mil. The corresponding amount that burdened the Group's financial figures on 31/03/2023 amounts to € 0.90 mil.
The corresponding financial figures of the Group (which are presented for information purposes) without applying accounting treatment based on the "fair value" method for stock options according to IFRS 2, are as follows:
Key financial data for the period 01/01/2024 – 31/03/2024
without applying accounting treatment based on the "fair value" method for Stock Options according to IFRS 2
|
GROUP FINANCIAL FIGURES (in thousand €) |
01/01/2024-31/03/2024 |
01/01/2023-31/03/2023 |
Change |
|
Revenue |
27,718.98 |
20,782.33 |
33.38% |
|
Earnings before Taxes* |
8,199.49 |
6,429.39 |
27.53% |
|
Adjusted EBITDA |
9,382.74 |
7,466.88 |
25.66% |
Condensed Statement of Financial Position
|
GROUP FINANCIAL FIGURES (in thousand €) |
01/01/2024-31/03/2024 |
01/01/2023-31/03/2023 |
|
Cash and Cash Equivalents |
28,517.53 |
28,970.35 |
|
Long-Term Borrowing |
9,478.49 |
4,447.35 |
|
Long-Term Leasing Liabilities |
4,052.98 |
3,108.72 |
|
Short-Term Borrowing |
3,280.30 |
9,898.56 |
|
Short-Term Leasing Liabilities |
1,233.00 |
807.89 |
|
Net Borrowing |
-10,472.75 |
-10,707.82 |
|
Equity |
67,327.13 |
63,611.35 |
|
Total Employed Capital |
56,854.38 |
52,903.52 |
|
Leverage Rate |
-0.1842 |
-0.2024 |
In Q1 2024, Group’s Equity increased to €67.30 mil. and cash & cash equivalents amounted to €28.52 mil. Negative net debt stood at €10.47 mil. (while in the calculation of negative borrowing has not been included an amount of €3.38 mil., invested in fixed-income securities compared to a corresponding amount of €3.18 mil. in Q1 2023).
The Group continues to consistently implement its business planning in all areas in which it operates. In parallel with the business development goals in Greece and abroad, a plan of actions is in progress to enhance the level of organization and operation of the Group aiming to upgrade its efficiency as well as implementing significant new investments in the areas of building infrastructure, Security, Fintech, Business Software & AI in order to ensure its leading position for the next five years.
Group's Management estimates that the investments of Greek businesses in the field of digital transformation will continue due to the dynamics of the economy and the parallel provision of incentives through the financial programs of the RECOVERY FUND & the NSRF 2021-2027. The positive results of Q1 2024 reward the Group's policy for the development and distribution of all-in-one solution products & services and its goal to continuously expand market share. From the position of the largest Business Software & Technology Solutions Group in Greece, we consistently continue the implementation of the business planning for the period 2023-2025.
For more information, please contact:
Investor Relations Department: email: [email protected]